CFSB BANCORP, INC. ANNOUNCES FISCAL SECOND QUARTER AND YEAR-TO-DATE 2025 FINANCIAL RESULTS
CFSB Bancorp reported financial results for Q2 2025, showing a net loss of $162,000 ($0.03 per share) for the quarter ended December 31, 2024, compared to a net loss of $6,000 in the previous quarter and $210,000 in the same quarter last year. For the six months ended December 31, 2024, the company recorded a net loss of $168,000 ($0.03 per share).
Net interest income increased by $45,000 (2.7%) to $1.7 million in Q2, with net interest margin rising to 1.98%. The company saw improvements in interest-earning assets while deposit costs peaked. Total assets stood at $362.8 million as of December 31, 2024, a slight decrease from $363.4 million in June 2024. Asset quality remained strong with only five substandard loans totaling $1.6 million.
The bank's deposits decreased by $483,000 to $270.4 million, with a shift toward higher-yielding term certificates of deposit. Stockholders' equity decreased by $379,000 to $75.7 million.
CFSB Bancorp ha riportato i risultati finanziari per il secondo trimestre del 2025, mostrando una perdita netta di $162,000 ($0.03 per azione) per il trimestre conclusosi il 31 dicembre 2024, rispetto a una perdita netta di $6,000 nel trimestre precedente e $210,000 nello stesso trimestre dell’anno scorso. Nei sei mesi terminati il 31 dicembre 2024, l'azienda ha registrato una perdita netta di $168,000 ($0.03 per azione).
I ricavi da interessi netti sono aumentati di $45,000 (2.7%) raggiungendo $1.7 milioni nel secondo trimestre, con il margine di interesse netto che è salito a 1.98%. L'azienda ha registrato miglioramenti negli attivi generanti interessi, mentre i costi dei depositi hanno raggiunto il picco. Il totale degli attivi si attestava a $362.8 milioni al 31 dicembre 2024, con una leggera diminuzione rispetto a $363.4 milioni di giugno 2024. La qualità degli attivi è rimasta forte con solo cinque prestiti non standard per un totale di $1.6 milioni.
I depositi della banca sono diminuiti di $483,000 a $270.4 milioni, con un passaggio verso certificati di deposito a termine ad alto rendimento. Il patrimonio netto degli azionisti è diminuito di $379,000 a $75.7 milioni.
CFSB Bancorp informó los resultados financieros para el segundo trimestre de 2025, mostrando una pérdida neta de $162,000 ($0.03 por acción) para el trimestre que terminó el 31 de diciembre de 2024, en comparación con una pérdida neta de $6,000 en el trimestre anterior y $210,000 en el mismo trimestre del año pasado. Durante los seis meses finalizados el 31 de diciembre de 2024, la empresa registró una pérdida neta de $168,000 ($0.03 por acción).
Los ingresos netos por intereses aumentaron en $45,000 (2.7%) alcanzando los $1.7 millones en el segundo trimestre, con un margen de interés neto que subió al 1.98%. La empresa vio mejoras en los activos generadores de intereses, mientras que los costos de los depósitos alcanzaron un pico. Los activos totales se situaron en $362.8 millones al 31 de diciembre de 2024, una ligera disminución desde los $363.4 millones de junio de 2024. La calidad de los activos se mantuvo fuerte con solo cinco préstamos subestándar que totalizan $1.6 millones.
Los depósitos del banco disminuyeron en $483,000 a $270.4 millones, con un cambio hacia certificados de depósito a plazo de mayor rendimiento. El patrimonio de los accionistas disminuyó en $379,000 a $75.7 millones.
CFSB Bancorp는 2025년 2분기 재무 결과를 보고하며, 2024년 12월 31일로 끝나는 분기에 $162,000($0.03 주당)의 순손실을 보였으며, 이는 이전 분기의 $6,000 순손실과 작년 동기 $210,000 순손실에 비해 나타났습니다. 2024년 12월 31일로 끝나는 6개월 동안, 회사는 $168,000($0.03 주당)의 순손실을 기록했습니다.
순이자수익은 2.7% 증가하여 2분기에 $1.7백만에 도달했으며, 순이자 마진은 1.98%로 상승했습니다. 회사는 이자 발생 자산의 개선을 보았으나, 예치금 비용은 정점에 달했습니다. 2024년 12월 31일 현재 총 자산은 $362.8백만으로, 2024년 6월의 $363.4백만에서 약간 감소했습니다. 자산 품질은 여전히 강력하게 유지되었으며, 총 $1.6백만의 비표준 대출이 다섯 건 있었습니다.
은행의 예치금은 $483,000 감소하여 $270.4백만에 도달하였으며, 고수익 만기 예치증서로의 전환이 있었습니다. 주주 자본은 $379,000 감소하여 $75.7백만이 되었습니다.
CFSB Bancorp a annoncé ses résultats financiers pour le deuxième trimestre 2025, affichant une perte nette de 162 000 $ (0,03 $ par action) pour le trimestre se terminant le 31 décembre 2024, par rapport à une perte nette de 6 000 $ au trimestre précédent et 210 000 $ au même trimestre de l’année dernière. Pour les six mois se terminant le 31 décembre 2024, l'entreprise a enregistré une perte nette de 168 000 $ (0,03 $ par action).
Les revenus d'intérêts nets ont augmenté de 45 000 $ (2,7 %) pour atteindre 1,7 million $ au 2e trimestre, avec une marge d'intérêt nette passant à 1,98 %. L'entreprise a constaté des améliorations des actifs générant des intérêts, tandis que les coûts des dépôts ont atteint un pic. Les actifs totaux s'élevaient à 362,8 millions $ au 31 décembre 2024, un léger recul par rapport à 363,4 millions $ en juin 2024. La qualité des actifs est restée solide avec seulement cinq prêts non conformes totalisant 1,6 million $.
Les dépôts de la banque ont diminué de 483 000 $ pour atteindre 270,4 millions $, avec un changement vers des certificats de dépôt à terme offrant des rendements plus élevés. Les capitaux propres des actionnaires ont diminué de 379 000 $ pour atteindre 75,7 millions $.
CFSB Bancorp hat die finanziellen Ergebnisse für das 2. Quartal 2025 veröffentlicht und einen Nettoverlust von $162,000 ($0.03 pro Aktie) für das Quartal bis zum 31. Dezember 2024 ausgewiesen, verglichen mit einem Nettoverlust von $6,000 im vorhergehenden Quartal und $210,000 im gleichen Quartal des Vorjahres. Für die sechs Monate bis zum 31. Dezember 2024 verzeichnete das Unternehmen einen Nettoverlust von $168,000 ($0.03 pro Aktie).
Die Nettozinserträge stiegen um $45,000 (2.7%) auf $1.7 Millionen im 2. Quartal, während die Nettomarge für Zinsen auf 1.98% anstieg. Das Unternehmen sah Verbesserungen bei den zinstragenden Vermögenswerten, während die Kosten der Einlagen ihren Höchststand erreichten. Die Gesamtovermögen beliefen sich am 31. Dezember 2024 auf $362.8 Millionen, ein leichter Rückgang von $363.4 Millionen im Juni 2024. Die Vermögensqualität blieb stark, mit nur fünf nicht standardgemäßen Krediten in Höhe von insgesamt $1.6 Millionen.
Die Einlagen der Bank sanken um $483,000 auf $270.4 Millionen, mit einer Verschiebung hin zu höherverzinslichen Termindepots. Das Eigenkapital der Aktionäre sank um $379,000 auf $75.7 Millionen.
- Net interest income increased 2.7% quarter-over-quarter to $1.7 million
- Net interest margin improved by 6 basis points to 1.98%
- Strong asset quality with only $1.6 million in substandard loans
- No charge-offs or recoveries during the six-month period
- Quarterly net loss of $162,000 ($0.03 per share)
- Six-month net loss increased to $168,000 from $87,000 year-over-year
- Total assets decreased by $681,000 (0.2%) since June 2024
- Deposits declined by $483,000 (0.2%) to $270.4 million
- Stockholders' equity decreased by $379,000 to $75.7 million
Insights
CFSB Bancorp's Q2 FY2025 results reveal persistent profitability challenges in a complex interest rate environment. The net loss of
Key performance indicators show mixed signals:
- Net interest margin improved slightly to
1.98% from1.92% QoQ, but remains well below optimal levels - Deposit mix shift toward higher-cost CDs (
$6.8M increase) while losing$5.3M in low-cost demand deposits indicates ongoing funding pressure - Non-interest expenses increased
9.2% QoQ to$2.0M , suggesting challenges in operational efficiency - Strong capital position maintained with
$75.7M in stockholders' equity, providing stability amid challenges
The bank's asset quality remains solid with minimal problem loans (
The modest improvement in net interest income and margin suggests the bank may be near an inflection point, but continued pressure on funding costs and operational expenses could delay meaningful profitability improvement. The strong capital position provides a buffer for navigating these challenges, but efficiency improvements will be important for returning to sustainable profitability.
For the six months ended December 31, 2024, the Company recorded a net loss of
Michael E. McFarland, President and Chief Executive Officer, states "Returns on interest-earning assets continue to show improvement while the cost of deposits have peaked and short-term instruments should continue to decline. We continue to focus on loan growth and expense reductions. As our assets continue to reprice higher and our liabilities, including both deposits and wholesale funding, reprice lower, conditions have become more favorable. While this market environment has been extraordinarily challenging we continue to be optimistic."
Second Quarter Operating Results
Net interest income, on a fully tax-equivalent basis, increased by
Net interest income, on a fully tax-equivalent basis, increased by
The Company recorded reversals of the provision for credit losses of
Non-interest income decreased
Non-interest income decreased
Non-interest expense increased
Non-interest expense decreased
The Company recorded a provision for income tax of
The Company recorded a provision for income tax of
Year-to-Date Operating Results
Net interest income, on a fully tax-equivalent basis, decreased by
The Company recorded a reversal of the provision for credit losses of
Non-interest income increased
Non-interest expense decreased
The Company recorded a provision for income taxes of
Balance Sheet
Assets: At December 31, 2024, total assets amounted to
Asset Quality: At December 31, 2024, there were five one- to four-family loans totaling
Liabilities: At December 31, 2024, total liabilities amounted to
Stockholders' Equity. Total stockholders' equity decreased
About CFSB Bancorp, Inc.
CFSB Bancorp, Inc. is the federal mid-tier holding company of Colonial Federal Savings Bank and is the majority-owned subsidiary of 15 Beach, MHC. Colonial Federal Savings Bank is a federally chartered stock savings bank that has served the banking needs of its customers on the south shore of
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, which can be identified by the use of words such as "estimate," "project," "believe," "intend," "anticipate," "assume," "plan," "seek," "expect," "will," "may," "should," "indicate," "would," "contemplate," "continue," "target" and words of similar meaning. These forward-looking statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Certain factors that could cause actual results to differ materially from expected results include increased competitive pressures, demand for loan products, deposit flows, changes in the interest rate environment, the effects of inflation, general economic conditions (including potential recessionary conditions) or conditions within the securities markets, monetary and fiscal policies of the
You should not place undue reliance on forward-looking statements. CFSB Bancorp, Inc. undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release.
CFSB Bancorp, Inc. and Subsidiary
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December 31, | June 30, | |||||||
2024 | 2024 | |||||||
Assets: | ||||||||
Cash and due from banks | $ | 1,506 | $ | 1,339 | ||||
Short-term investments | 27,323 | 25,620 | ||||||
Total cash and cash equivalents | 28,829 | 26,959 | ||||||
Securities available for sale, at fair value | 103 | 113 | ||||||
Securities held to maturity, at amortized cost, net of allowance for credit losses | 147,917 | 146,994 | ||||||
Federal Home Loan Bank of | 704 | 704 | ||||||
Loans: | ||||||||
1-4 family | 136,195 | 138,005 | ||||||
Multifamily | 11,720 | 12,066 | ||||||
Second mortgages and home equity lines of credit | 4,004 | 3,372 | ||||||
Commercial | 15,056 | 16,833 | ||||||
Total mortgage loans on real estate | 166,975 | 170,276 | ||||||
Consumer | 92 | 65 | ||||||
Home improvement | 1,868 | 2,037 | ||||||
Total loans | 168,935 | 172,378 | ||||||
Allowance for credit losses | (1,407) | (1,553) | ||||||
Net deferred loan costs and fees, and purchase premiums | (376) | (387) | ||||||
Loans, net | 167,152 | 170,438 | ||||||
Premises and equipment, net | 3,130 | 3,246 | ||||||
Accrued interest receivable | 1,355 | 1,398 | ||||||
Bank-owned life insurance | 10,809 | 10,670 | ||||||
Deferred tax asset | 1,193 | 1,245 | ||||||
Operating lease right of use asset | 812 | 860 | ||||||
Other assets | 754 | 812 | ||||||
Total assets | $ | 362,758 | $ | 363,439 | ||||
Liabilities and Stockholders' Equity: | ||||||||
Deposits: | ||||||||
Non-interest-bearing NOW and demand | $ | 27,991 | $ | 34,124 | ||||
Interest-bearing NOW and demand | 29,126 | 28,262 | ||||||
Regular and other | 52,103 | 54,192 | ||||||
Money market accounts | 22,047 | 21,956 | ||||||
Term certificates | 139,091 | 132,307 | ||||||
Total deposits | 270,358 | 270,841 | ||||||
Federal Home Loan Bank of | 10,350 | 10,350 | ||||||
Mortgagors' escrow accounts | 1,684 | 1,525 | ||||||
Operating lease liability | 833 | 877 | ||||||
Accrued expenses and other liabilities | 3,862 | 3,796 | ||||||
Total liabilities | 287,087 | 287,389 | ||||||
Stockholders' Equity: | ||||||||
Common stock | 65 | 65 | ||||||
Additional paid-in capital | 28,302 | 28,139 | ||||||
Treasury stock | (504) | (78) | ||||||
Retained earnings | 50,058 | 50,226 | ||||||
Accumulated other comprehensive loss, net of tax | - | (1) | ||||||
Unearned compensation - ESOP | (2,250) | (2,301) | ||||||
Total stockholders' equity | 75,671 | 76,050 | ||||||
Total liabilities and stockholders' equity | $ | 362,758 | $ | 363,439 | ||||
CFSB Bancorp, Inc. and Subsidiary
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For the Three Months Ended | For the Six Months Ended | |||||||||||||||||||
December 31, | September 30, | December 31, | December 31, | December 31, | ||||||||||||||||
2024 | 2024 | 2023 | 2024 | 2023 | ||||||||||||||||
Interest and dividend income: | ||||||||||||||||||||
Interest and fees on loans | $ | 1,765 | $ | 1,784 | $ | 1,758 | $ | 3,549 | $ | 3,480 | ||||||||||
Interest and dividends on debt securities: | ||||||||||||||||||||
Taxable | 1,083 | 1,028 | 904 | 2,111 | 1,772 | |||||||||||||||
Tax-exempt | 73 | 77 | 93 | 150 | 190 | |||||||||||||||
Interest on short-term investments and certificates of deposit | 342 | 330 | 49 | 672 | 94 | |||||||||||||||
Total interest and dividend income | 3,263 | 3,219 | 2,804 | 6,482 | 5,536 | |||||||||||||||
Interest expense: | ||||||||||||||||||||
Deposits | 1,455 | 1,457 | 1,051 | 2,912 | 1,927 | |||||||||||||||
Borrowings | 119 | 119 | 114 | 238 | 164 | |||||||||||||||
Total interest expense | 1,574 | 1,576 | 1,165 | 3,150 | 2,091 | |||||||||||||||
Net interest income | 1,689 | 1,643 | 1,639 | 3,332 | 3,445 | |||||||||||||||
Reversal of credit losses for securities held to maturity | (15) | (15) | (99) | (30) | (141) | |||||||||||||||
Provision (reversal) of credit losses for off-balance sheet exposures | 33 | (8) | 3 | 25 | (12) | |||||||||||||||
Reversal of credit losses for loans | (97) | (48) | (8) | (145) | (117) | |||||||||||||||
Net interest income after (reversal) provsion of credit losses | 1,768 | 1,714 | 1,743 | 3,482 | 3,715 | |||||||||||||||
Non-interest income: | ||||||||||||||||||||
Customer service fees | 36 | 41 | 37 | 77 | 77 | |||||||||||||||
Income on bank-owned life insurance | 70 | 69 | 68 | 139 | 134 | |||||||||||||||
Other income | 59 | 60 | 67 | 119 | 121 | |||||||||||||||
Total non-interest income | 165 | 170 | 172 | 335 | 332 | |||||||||||||||
Non-interest expenses: | ||||||||||||||||||||
Salaries and employee benefits | 1,218 | 1,096 | 1,267 | 2,314 | 2,411 | |||||||||||||||
Occupancy and equipment | 237 | 251 | 240 | 488 | 494 | |||||||||||||||
Advertising | 38 | 36 | 36 | 74 | 74 | |||||||||||||||
Data processing | 108 | 94 | 101 | 202 | 190 | |||||||||||||||
Deposit insurance | 35 | 34 | 33 | 69 | 66 | |||||||||||||||
Other general and administrative | 408 | 360 | 432 | 768 | 790 | |||||||||||||||
Total non-interest expenses | 2,044 | 1,871 | 2,109 | 3,915 | 4,025 | |||||||||||||||
Income (loss) before income taxes | (111) | 13 | (194) | (98) | 22 | |||||||||||||||
Provision for income taxes | 51 | 19 | 16 | 70 | 109 | |||||||||||||||
Net loss | $ | (162) | $ | (6) | $ | (210) | $ | (168) | $ | (87) | ||||||||||
Net loss per share: | ||||||||||||||||||||
Basic | $ | (0.03) | $ | (0.00) | $ | (0.03) | $ | (0.03) | $ | (0.01) | ||||||||||
Diluted | $ | (0.03) | $ | (0.00) | $ | (0.03) | $ | (0.03) | $ | (0.01) | ||||||||||
Weighted average shares outstanding: | ||||||||||||||||||||
Basic | 6,271,579 | 6,294,603 | 6,284,768 | 6,283,091 | 6,283,485 | |||||||||||||||
Diluted | 6,271,579 | 6,294,603 | 6,284,768 | 6,283,091 | 6,283,485 | |||||||||||||||
CFSB Bancorp, Inc. and Subsidiary
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Average Balance and Yields | |||||||||||||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||||||||
December 31, 2024 | September 30, 2024 | December 31, 2023 | |||||||||||||||||||||||||||||||||
Average | Interest | Average | Average | Interest | Average | Average | Interest | Average | |||||||||||||||||||||||||||
Outstanding | Earned/ | Yield/ | Outstanding | Earned/ | Yield/ | Outstanding | Earned/ | Yield/ | |||||||||||||||||||||||||||
(Dollars in thousands) | Balance | Paid | Rate | Balance | Paid | Rate | Balance | Paid | Rate | ||||||||||||||||||||||||||
Interest-earning assets: | |||||||||||||||||||||||||||||||||||
Loans | $ | 168,996 | $ | 1,765 | 4.18 | % | $ | 171,488 | $ | 1,784 | 4.16 | % | $ | 176,149 | $ | 1,758 | 3.99 | % | |||||||||||||||||
Securities (1) | 148,673 | 1,175 | 3.16 | % | 147,649 | 1,125 | 3.05 | % | 149,187 | 1,022 | 2.74 | % | |||||||||||||||||||||||
Cash and short-term investments | 26,945 | 342 | 5.08 | % | 26,873 | 330 | 4.91 | % | 4,491 | 49 | 4.36 | % | |||||||||||||||||||||||
Total interest-earning assets | 344,614 | 3,282 | 3.81 | % | 346,010 | 3,239 | 3.74 | % | 329,827 | 2,829 | 3.43 | % | |||||||||||||||||||||||
Non-interest-earning assets | 17,169 | 17,170 | 16,875 | ||||||||||||||||||||||||||||||||
Total assets | $ | 361,783 | $ | 363,180 | $ | 346,702 | |||||||||||||||||||||||||||||
Interest-bearing liabilities: | |||||||||||||||||||||||||||||||||||
Interest-bearing demand deposits | $ | 30,034 | $ | 4 | 0.05 | % | $ | 29,753 | $ | 4 | 0.05 | % | $ | 29,746 | $ | 4 | 0.05 | % | |||||||||||||||||
Savings deposits | 53,149 | 13 | 0.10 | % | 54,004 | 14 | 0.10 | % | 58,992 | 15 | 0.10 | % | |||||||||||||||||||||||
Money market deposits | 22,216 | 13 | 0.23 | % | 22,365 | 14 | 0.25 | % | 24,153 | 15 | 0.25 | % | |||||||||||||||||||||||
Certificates of deposit | 136,928 | 1,425 | 4.16 | % | 133,142 | 1,425 | 4.28 | % | 115,397 | 1,017 | 3.53 | % | |||||||||||||||||||||||
Total interest-bearing deposits | 242,327 | 1,455 | 2.40 | % | 239,264 | 1,457 | 2.44 | % | 228,288 | 1,051 | 1.84 | % | |||||||||||||||||||||||
FHLB advances | 10,350 | 119 | 4.60 | % | 10,350 | 119 | 4.60 | % | 8,323 | 114 | 5.48 | % | |||||||||||||||||||||||
Total interest-bearing liabilities | 252,677 | 1,574 | 2.49 | % | 249,614 | 1,576 | 2.53 | % | 236,611 | 1,165 | 1.97 | % | |||||||||||||||||||||||
Non-interest-bearing liabilities: | |||||||||||||||||||||||||||||||||||
Non-interest-bearing demand deposits | 27,226 | 31,748 | 28,223 | ||||||||||||||||||||||||||||||||
Other non-interest-bearing liabilities | 5,934 | 5,809 | 5,968 | ||||||||||||||||||||||||||||||||
Total liabilities | 285,837 | 287,171 | 270,802 | ||||||||||||||||||||||||||||||||
Total stockholders' equity | 75,946 | 76,009 | 75,900 | ||||||||||||||||||||||||||||||||
Total liabilities and stockholders' equity | $ | 361,783 | $ | 363,180 | $ | 346,702 | |||||||||||||||||||||||||||||
Net interest income | $ | 1,708 | $ | 1,663 | $ | 1,664 | |||||||||||||||||||||||||||||
Net interest rate spread(2) | 1.32 | % | 1.21 | % | 1.46 | % | |||||||||||||||||||||||||||||
Net interest-earning assets(3) | $ | 91,937 | $ | 96,396 | $ | 93,216 | |||||||||||||||||||||||||||||
Net interest margin(4) | 1.98 | % | 1.92 | % | 2.02 | % | |||||||||||||||||||||||||||||
Cost of deposits(5) | 2.16 | % | 2.15 | % | 1.64 | % | |||||||||||||||||||||||||||||
Cost of funds(6) | 2.25 | % | 2.24 | % | 1.76 | % | |||||||||||||||||||||||||||||
Ratio of interest-earning assets to | 136.39 | % | 138.62 | % | 139.40 | % | |||||||||||||||||||||||||||||
(1) Includes tax equivalent adjustments for municipal securities, based on a statutory tax rate of | |||||||||||||||||||||||||||||||||||
CFSB Bancorp, Inc. and Subsidiary
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For the Three Months Ended | ||||||||||||
December 31, 2024 | September 30, 2024 | December 31, 2023 | ||||||||||
Securities interest income (no tax adjustment) | $ | 1,156 | $ | 1,105 | $ | 997 | ||||||
Tax-equivalent adjustment | 19 | 20 | 25 | |||||||||
Securities (tax-equivalent basis) | $ | 1,175 | $ | 1,125 | $ | 1,022 | ||||||
Net interest income (no tax adjustment) | $ | 1,689 | $ | 1,643 | $ | 1,639 | ||||||
Tax-equivalent adjustment | 19 | 20 | 25 | |||||||||
Net interest income (tax-equivalent adjustment) | $ | 1,708 | $ | 1,663 | $ | 1,664 | ||||||
CFSB Bancorp, Inc. and Subsidiary
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Average Balance and Yields | |||||||||||||||||||||||
Six Months Ended | |||||||||||||||||||||||
December 31, 2024 | December 31, 2023 | ||||||||||||||||||||||
Average | Interest | Average | Average | Interest | Average | ||||||||||||||||||
Outstanding | Earned/ | Yield/ | Outstanding | Earned/ | Yield/ | ||||||||||||||||||
(Dollars in thousands) | Balance | Paid | Rate | Balance | Paid | Rate | |||||||||||||||||
Interest-earning assets: | |||||||||||||||||||||||
Loans | $ | 170,242 | $ | 3,549 | 4.17 | % | $ | 176,408 | $ | 3,480 | 3.95 | % | |||||||||||
Securities (1) | 148,161 | 2,301 | 3.11 | % | 149,223 | 2,013 | 2.70 | % | |||||||||||||||
Cash and short-term investments | 26,909 | 672 | 4.99 | % | 4,172 | 94 | 4.51 | % | |||||||||||||||
Total interest-earning assets | 345,312 | 6,522 | 3.78 | % | 329,803 | 5,587 | 3.39 | % | |||||||||||||||
Non-interest-earning assets | 17,170 | 16,608 | |||||||||||||||||||||
Total assets | $ | 362,482 | $ | 346,411 | |||||||||||||||||||
Interest-bearing liabilities: | |||||||||||||||||||||||
Interest-bearing demand deposits | $ | 29,893 | $ | 7 | 0.05 | % | $ | 29,829 | $ | 7 | 0.05 | % | |||||||||||
Savings deposits | 53,577 | 27 | 0.10 | % | 60,719 | 30 | 0.10 | % | |||||||||||||||
Money market deposits | 22,291 | 27 | 0.24 | % | 25,212 | 32 | 0.25 | % | |||||||||||||||
Certificates of deposit | 135,035 | 2,850 | 4.22 | % | 113,604 | 1,858 | 3.27 | % | |||||||||||||||
Total interest-bearing deposits | 240,796 | 2,911 | 2.42 | % | 229,364 | 1,927 | 1.68 | % | |||||||||||||||
FHLB advances | 10,350 | 239 | 4.62 | % | 5,947 | 164 | 5.52 | % | |||||||||||||||
Total interest-bearing liabilities | 251,146 | 3,150 | 2.51 | % | 235,311 | 2,091 | 1.78 | % | |||||||||||||||
Non-interest-bearing liabilities: | |||||||||||||||||||||||
Non-interest-bearing demand deposits | 29,487 | 29,597 | |||||||||||||||||||||
Other non-interest-bearing liabilities | 5,871 | 5,697 | |||||||||||||||||||||
Total liabilities | 286,504 | 270,605 | |||||||||||||||||||||
Total stockholders' equity | 75,978 | 75,806 | |||||||||||||||||||||
Total liabilities and stockholders' equity | $ | 362,482 | $ | 346,411 | |||||||||||||||||||
Net interest income | $ | 3,372 | $ | 3,496 | |||||||||||||||||||
Net interest rate spread(2) | 1.27 | % | 1.61 | % | |||||||||||||||||||
Net interest-earning assets(3) | $ | 94,166 | $ | 94,492 | |||||||||||||||||||
Net interest margin(4) | 1.95 | % | 2.12 | % | |||||||||||||||||||
Cost of deposits(5) | 2.15 | % | 1.49 | % | |||||||||||||||||||
Cost of funds(6) | 2.24 | % | 1.58 | % | |||||||||||||||||||
Ratio of interest-earning assets to interest-bearing liabilities | 137.49 | % | 140.16 | % | |||||||||||||||||||
(1) Includes tax equivalent adjustments for municipal securities, based on a statutory tax rate of | |||||||||||||||||||||||
CFSB Bancorp, Inc. and Subsidiary
| ||||||||
For the Six Months Ended | ||||||||
December 31, | December 31, | |||||||
2024 | 2023 | |||||||
Securities interest income (no tax adjustment) | $ | 2,261 | $ | 1,962 | ||||
Tax-equivalent adjustment | 40 | 51 | ||||||
Securities (tax-equivalent basis) | $ | 2,301 | $ | 2,013 | ||||
Net interest income (no tax adjustment) | 3,332 | 3,445 | ||||||
Tax-equivalent adjustment | 40 | 51 | ||||||
Net interest income (tax-equivalent adjustment) | $ | 3,372 | $ | 3,496 | ||||
View original content:https://www.prnewswire.com/news-releases/cfsb-bancorp-inc-announces-fiscal-second-quarter-and-year-to-date-2025-financial-results-302363582.html
SOURCE CFSB Bancorp, Inc.
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