1 unchanged sentence
The Bank is a wholly-owned subsidiary of the Company and is a federally chartered and insured savings bank headquartered in Topeka, Kansas.
−Removed: We have been, and intend to continue to be, a community-oriented financial institution offering a variety of financial services to meet the needs of the communities we serve.
−Removed: We attract deposits primarily from the general public and from businesses, and invest those funds primarily in permanent loans secured by first mortgages on owner-occupied, one- to four-family residences and in commercial loans, either secured by real estate or for commercial and industrial purposes.
−Removed: We also participate with other lenders in commercial loans, and have purchased loans primarily secured by mortgages on one- to four-family residences.
−Removed: The Bank also invests in certain investment securities and mortgage-backed securities ("MBS") using funding from deposits and Federal Home Loan Bank of Topeka ("FHLB") borrowings.
+Added: The Bank continues to transition from a retail oriented financial institution to one with an expanded focus on commercial customers by strategically growing all aspects of commercial banking through investment in technology, people, products, and services.
+Added: We attract deposits primarily from the general public and from businesses, and invest those funds primarily in commercial loans, either secured by real estate or for commercial and industrial purposes, and in permanent loans secured by first mortgages on owner-occupied, one- to four-family residences.
+Added: The Bank is active in commercial lending markets even when the lending opportunity is outside of the Bank's local footprint.
+Added: We also participate with other lenders in commercial loans, and have previously purchased loans from correspondent lenders secured by mortgages on one- to four-family residences but we suspended that line of business in June 2024.
+Added: The Bank invests in certain investment securities and mortgage-backed securities ("MBS").
+Added: The Bank funds our lending and investing activities from deposits and Federal Home Loan Bank of Topeka ("FHLB") borrowings.
We offer a variety of deposit accounts having a wide range of interest rates and terms, which generally include savings accounts, money market accounts, interest-bearing and non-interest-bearing checking accounts, and certificates of deposit with terms ranging from 91 days to 120 months.
−Removed: The Bank offers a suite of treasury management services designed to support business customers in managing their financial operations efficiently and securely.
−Removed: Our treasury management solutions include cash flow optimization, fraud prevention tools, and payment services tailored to meet the needs of commercial clients.
−Removed: By leveraging these services, we help businesses streamline their operations, reduce financial risk, and maximize liquidity while helping the Bank gather deposit and fee income.
+Added: We also offer a broad range of banking services, including a full suite of treasury management services designed to support commercial customers in managing their financial operations efficiently and securely.
+Added: By leveraging treasury management services, we help businesses streamline their operations, reduce financial risk, and maximize liquidity while growing the Bank's non-interest-bearing deposit base and diversifying fee-based income.
+Added: We also offer tailored banking services for our small business customers and are actively expanding our suite of private banking and trust and wealth management products and services.
The Company's results of operations are primarily dependent on net interest income, which is the difference between the interest earned on loans, securities, and cash, and the interest paid on deposits and borrowings.
On a weekly basis, management reviews deposit flows, loan demand, cash levels, and changes in several market interest rates to assess all pricing strategies.
−Removed: The Bank's pricing strategy for first mortgage loan products includes setting interest rates based on secondary market prices and competitor pricing for our local lending markets.
−Removed: Pricing for commercial loans is generally based on competitor pricing and the credit risk of the borrower with consideration given to the overall relationship of the borrower.
+Added: The Bank's pricing strategy for commercial loans is generally based on competitor pricing and the credit risk of the borrower, with consideration given to the overall relationship of the borrower.
+Added: Pricing for first mortgage loan products includes setting interest rates based on secondary market prices and competitor pricing for our local lending
Generally, deposit pricing is based upon a survey of competitors in the Bank's market areas, and the need to attract funding and retain maturing deposits.
The Company is significantly affected by prevailing economic conditions, including federal monetary and fiscal policies and federal regulation of financial institutions.
−Removed: Deposit balances are influenced by a number of factors, including interest rates paid on competing investment products, the level of personal income, and the personal rate of savings within our market
−Removed: Lending activities are influenced by the demand for housing and business activity levels, our loan underwriting guidelines compared to those of our competitors, as well as the interest rate environment and interest rate pricing competition from other lending institutions.
+Added: Deposit balances are influenced by a number of factors, including interest rates paid on competing investment products, the level of personal income, and the personal rate of savings within our market areas.
+Added: Lending activities are influenced by the demand for business and housing activity levels, our loan underwriting guidelines compared to those of our competitors, as well as the interest rate environment and interest rate pricing competition from other lending institutions.
Management Strategy
−Removed: We seek to provide qualified borrowers the broadest possible access to home ownership through our mortgage lending programs and to offer a complete set of personal and commercial banking products and services to our customers.
−Removed: We strive to enhance stockholder value while maintaining a strong capital position.
+Added: We seek to offer a comprehensive suite of commercial and consumer banking products and services to our customers.
+Added: We strive to enhance stockholder value while maintaining a sound asset quality position and strong capital position.
To achieve these goals, we focus on the following strategies:
−Removed: We are one of the leading originators of one- to four-family loans in the state of Kansas.
−Removed: We originate these loans primarily for our own portfolio, and we service the loans we originate.
−Removed: Historically, we purchased one- to four-family loans from correspondent lenders but recently suspended that activity for balance sheet management purposes.
+Added: We offer both commercial and one- to four-family loan products to our customers.
+Added: We continue to strategically grow our commercial loan portfolio through prospecting for new relationships and maintaining and expanding existing relationships.
+Added: We maintain strong relationships with local real estate agents to attract one- to four-family loan business.
+Added: We rely on our marketing efforts and customer service reputation to be top of mind for commercial customers and attract business from walk-in customers, customers that apply online, and existing customers.
We offer several commercial lending options and participate in commercial loans with other lenders, both locally and outside our market areas.
We offer both fixed- and adjustable-rate products with various terms to maturity and pricing options.
−Removed: We maintain strong relationships with local real estate agents to attract loan business.
−Removed: We rely on our marketing efforts and customer service reputation to attract business from walk-in customers, customers that apply online, and existing customers.
−Removed: Our business development efforts help to bring new business relationships to the Bank.
+Added: We monitor concentration levels such as collateral type, geographic location, tenant brand name, borrowing relationships, and, in the case of participation loans, lending relationships, among other factors.
+Added: We are one of the leading originators of conventional one- to four-family loans in the state of Kansas.
+Added: We originate these loans primarily for our own portfolio, and we generally service the loans we originate.
+Added: Historically, we purchased one- to four-family loans from correspondent lenders but suspended that activity during fiscal year 2024.
+Added: We also originate a variety of consumer loans, the majority of which are home equity loans and lines of credit for which the Bank also has the first mortgage or is in the first lien position.
Deposit Services.
−Removed: We offer a wide array of retail and business deposit products and services.
−Removed: These products include checking, savings, money market, certificates of deposit, and retirement accounts.
−Removed: We also offer Treasury Management solutions tailored to meet the needs of our commercial clients.
−Removed: Our deposit services are provided through our network of traditional branches and retail in-store locations, our call center (which operates on extended hours), mobile banking, telephone banking, and online banking and bill payment services.
+Added: We offer a wide array of deposit products and services to our commercial and retail customers.
+Added: Our deposit product offerings include checking, savings, money market, certificates of deposit, and retirement accounts.
+Added: Deposit services are provided through our network of traditional branches and retail in-store locations, our call center (which operates on extended hours), mobile banking, telephone banking, and online banking and bill payment services.
+Added: We offer a competitive suite of treasury management services to meet the needs of our commercial customers.
+Added: Our treasury management solutions include services such as cash flow optimization, fraud prevention tools, and payment services tailored to our commercial customers.
+Added: We listen to the needs of our commercial clients that utilize these services and actively evaluate new technology in order to capture a larger share of their business with additional products and services.
+Added: We have also deployed a team of business development officers tasked with growing the deposit base within the small business customer segment, focusing on serving small businesses in our market areas with specialized products specifically designed for these customers.
+Added: We are preparing to implement a comprehensive suite of private banking products and services in fiscal year 2026 to better serve our customers and grow our non-interest revenue.
+Added: We believe that our private banking line of business will bridge the gap between high-net-worth depository customers, small business owners or commercial customers, and corporate trustee opportunities for the Bank.
Cost Control.
We generally are effective at controlling our costs of operations.
+Added: We believe our investments in developing a full suite of commercial products and services, and our expanded services in private banking and trust and wealth management, are appropriate and that their successful execution can generate revenue in excess of the related costs.
We centralize our loan servicing and deposit support functions for efficient processing.
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This large average deposit base per branch helps to control costs.
−Removed: Our one- to four-family lending strategy and our effective management of credit risk allow us to service a large portfolio of loans at efficient levels because it costs less to service a portfolio of performing loans.
−Removed: We recognize it is more expensive to offer a full suite of commercial products and services, but we will continue our efforts to control those costs.
−Removed: The Bank continues to invest in its infrastructure, which can increase costs.
+Added: Our prudent underwriting requirements and our effective management of credit risk allow us to service a large portfolio of loans at efficient levels because it costs less to service a portfolio of performing loans.
Asset Quality.
+Added: Maintaining strong asset quality has always been a top priority for us, and is even more important now, as we expand our commercial loan portfolio.
We utilize underwriting standards for all of our lending products, including the loans we purchase and participate in, that are designed to limit our exposure to credit risk.
−Removed: We require complete documentation for both originated and purchased loans, and make credit decisions based on our assessment of the borrower's ability to repay the loan in accordance with its terms.
−Removed: Additionally, we monitor the asset quality of existing loans and strive to work proactively with customers who face challenging financial conditions.
+Added: We require complete documentation for both loans originated by the Bank and for commercial participation loans and make credit decisions based on our assessment of the borrower's ability to repay the loan in accordance with its terms.
+Added: We monitor concentration levels by collateral type, geographic location, and borrowing relationship.
+Added: We also monitor the credit quality of existing loans and borrowers, which includes monitoring financial performance at least annually for commercial borrowers with total loans of $2.5 million or more.
+Added: We strive to work proactively with customers, especially if they face challenging financial conditions.
Capital Position.
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Stockholder Value.
−Removed: We strive to provide stockholder value while maintaining a strong capital position.
+Added: We strive to provide long-term, sustainable stockholder value while maintaining a strong capital position.
We continue to generate returns to stockholders through dividend payments and share repurchases.
Total dividends declared and paid during fiscal year 2025 were $44.3 million.
−Removed: The Company repurchased 3,280,110 shares for $19.3 million during fiscal year 2024, which all occurred in the first half of the year.
−Removed: The Company's cash dividend payout policy is reviewed quarterly by management and the Board of Directors, and the ability to pay dividends under the policy depends upon a number of factors, including the Company's financial condition and results of operations, regulatory capital requirements, regulatory limitations on the Bank's ability to make capital distributions to the Company, and the amount of cash at the holding company level.
−Removed: For fiscal year 2025, it is the current intention of the Board of Directors to continue the regular quarterly cash dividend of $0.085 per share.
+Added: The Company also repurchased 618,260 shares for $3.9 million during fiscal year 2025, all of which occurred during the fourth quarter of the fiscal year.
+Added: The Company's cash dividend payout policy is reviewed quarterly by management and the Board of Directors, and the ability to pay dividends under the policy depends upon a number of factors, including the Company's financial condition and results of operations, regulatory capital requirements, regulatory limitations on the Bank's ability to make capital distributions to the Company, the Bank's current tax earnings and accumulated earnings and profits, and the amount of cash at the holding company level.
+Added: For fiscal year 2026, it is the intention of the Company's Board of Directors to pay out a regular quarterly cash dividend of $0.085 per share, totaling $0.34 per share for the year, and to seek further opportunities for value-enhancing share repurchases.
Interest Rate Risk Management.
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Therefore, fluctuations in interest rates have a significant impact not only upon our net income but also upon the cash flows related to those assets and liabilities and the market value of our assets and liabilities.
−Removed: In order to maintain what we believe to be acceptable levels of net interest income in varying interest rate environments, we actively manage our interest rate risk and assume a moderate amount of interest rate risk consistent with policies approved by the Board of Directors.
+Added: To maintain what we believe to be acceptable levels of net interest income in varying interest rate environments, we actively manage our interest rate risk and assume a moderate amount of interest rate risk consistent with policies approved by the Board of Directors.
Market Area and Competition
Our corporate office is located in Topeka, Kansas.
−Removed: As of September 30, 2024, we had a network of 48 branches (44 traditional branches and four in-store branches) located in nine counties throughout Kansas and three counties in Missouri.
+Added: As of September 30, 2025, we had a network of 46 branches (44 traditional branches and two in-store branches) located in nine counties throughout Kansas and three counties in Missouri.
We primarily serve the metropolitan areas of Topeka, Wichita, Lawrence, Manhattan, Emporia, and Salina, Kansas and a portion of the metropolitan area of greater Kansas City.
+Added: We operate in a highly competitive environment for quality commercial banking relationships across the markets we serve.
+Added: Larger national, regional and local financial institutions, as well as credit unions, farm credit lenders, commercial finance companies, insurance companies, and other non-bank lenders have increased their presence in our market areas thereby increasing competition.
+Added: Additionally, we face competition from smaller local institutions that often offer aggressive pricing and specialized loan structures and banking services.
+Added: We compete in a number of ways, including a comprehensive suite of products and services, competitive loan pricing, and a strong reputation in the market areas we serve.
+Added: We provide competitive interest rates on both deposit and lending products and offer a full suite of treasury management services to
+Added: commercial customers.
+Added: Through our treasury management services, we pair our commercial customers with experienced relationship managers who offer a broad range of customized services, digital platforms and sophisticated cash management tools tailored to their business.
+Added: We offer specialized products and services to our small business customers and have a team of bankers focused on the deposit and loan needs of small businesses in our market areas.
+Added: We are focused on the financial needs of customers and strategically invest in all aspects of commercial banking by aligning technology, people, products and services to expand the offering of products and services to our customers to remain competitive and grow commercial banking.
Competition in originating one- to four-family and consumer loans and attracting retail deposits primarily comes from local, regional, and national banks, savings institutions, credit unions, mortgage brokerage firms, investment banking and brokerage firms, and online competitors that are not confined to any specific market area.
−Removed: The Bank has consistently been one of the top originators of residential one- to four-family loans in the state of Kansas.
−Removed: This has been achieved through strong relationships with real estate agents and targeted marketing campaigns which emphasize the strength of Capitol Federal's brand, competitive pricing, and the Bank's history as a portfolio lender.
−Removed: The Bank offers a diversified retail deposit product line, and trust and brokerage services.
+Added: As noted above, the Bank has consistently been one of the top originators of residential one- to four-family loans in the state of Kansas.
+Added: This has been achieved through strong relationships with real estate agents and marketing which emphasizes the strength of Capitol Federal's brand, competitive pricing, and the Bank's history as a portfolio lender.
+Added: The Bank offers a diversified retail deposit product line, and we are actively expanding our suite of private banking and trust and wealth management products and services by strategically investing in staff and technology.
Management considers our well-established banking network and our reputation for financial strength and customer service to be major factors in our success at attracting and retaining customers in our market areas.
−Removed: The Bank ranked third in deposit market share, at 6.1%, in the state of Kansas as reported in the June 30, 2024 Federal Deposit Insurance Corporation ("FDIC") "Summary of Deposits - Market Share Report."
−Removed: There is similarly intense competition for quality commercial lending relationships in the areas we serve.
−Removed: Larger national, regional and local financial institutions, as well as credit unions, farm credit lenders, commercial finance companies, insurance companies, and other non-bank lenders have increased their presence in our market areas, ultimately placing downward pressure on pricing.
−Removed: We also compete with smaller local financial institutions that may have aggressive pricing and unique terms.
−Removed: We compete in a number of ways including customer service, quality of execution, range of products offered, price and reputation among others.
−Removed: While we provide competitive interest rates on both deposit and lending products, we believe that we can compete most successfully by focusing on the financial needs of growing companies and small and middle-market businesses, pairing these companies with experienced relationship managers who can offer a broad range of customized services, digital platforms and sophisticated cash management tools tailored to their business through our Treasury Management solutions.
+Added: The Bank ranked second in deposit market share, at 6.2%, in the state of Kansas as reported in the June 30, 2025 Federal Deposit Insurance Corporation ("FDIC") "Summary of Deposits - Market Share Report."
Available Information
−Removed: Our website address is www.capfed.com.
−Removed: Our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and all amendments to those reports can be obtained free of charge from our website.
−Removed: These reports are available on our website as soon as reasonably practicable after they are electronically filed with or furnished to the SEC.
−Removed: These reports are also available on the SEC's website at http://www.sec.gov.
+Added: Financial and other Company information, including press releases, Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and all amendments to those reports can be obtained free of charge from our investor relations website, https://ir.capfed.com.
+Added: SEC filings are available on our website immediately after they are electronically filed with or furnished to the SEC, and are also available on the SEC's website at www.sec.gov.
Regulation and Supervision
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Loan commitments and loans outstanding to the Bank's largest borrowing relationship totaled $103.2 million at September 30, 2025, all of which was current according to its terms.
+Added: As of September 30, 2025, the lending relationship was composed of several commercial and industrial loans with a combined gross balance of $85.1 million and multiple commercial real estate loans with a combined gross balance of $18.1 million.
+Added: The borrower is located in Kansas and the properties securing the commercial real estate loans are located in Kansas.
The OCC has adopted guidelines establishing safety and soundness standards on matters such as loan underwriting and documentation, asset quality, earnings standards, internal controls and audit systems, interest rate risk exposure, and compensation and other employee benefits.
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During these examinations, the examiners may require the Bank to increase its ACL, change the classification of loans, and/or recognize additional charge-offs based on their judgments, which can impact our capital and earnings.
+Added: In October 2025, the OCC announced several regulatory changes aimed at reducing burdens and tailoring oversight for community banks.
+Added: Effective January 1, 2026, the OCC will eliminate certain mandatory, non-statutory examination requirements, allowing examiners to adjust exam scope and frequency based on each bank’s size, complexity, and risk profile.
+Added: The agency also introduced initiatives to simplify model risk-management expectations for smaller institutions and expand eligibility for streamlined licensing procedures for well-managed community banks.
+Added: Together, these measures are designed to make supervision more risk-focused and less prescriptive, while maintaining safety and soundness standards.
Regulatory Capital Requirements.
7 unchanged sentences
The OCC is authorized and, under certain circumstances, required to take certain actions against federal savings banks that are not adequately capitalized because they fail to meet the minimum requirements associated with their elected capital framework.
−Removed: Any such institution must submit a capital restoration plan for OCC approval and may be restricted in, among
−Removed: other things, increasing its assets, acquiring another institution, establishing a branch or engaging in any new activities, and may not make capital distributions.
+Added: Any such institution must submit a capital restoration plan for OCC approval and may be restricted in, among other things, increasing its assets, acquiring another institution, establishing a branch or engaging in any new activities, and may not make capital distributions.
Institutions that are deemed by the OCC to be "critically undercapitalized" are subject to the appointment of a conservator or receiver.
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Under FRB and OCC safe harbor regulations, a savings institution generally may make capital distributions during any calendar year equal to net income of the previous two calendar years and current year-to-date net income (to the extent not previously distributed).
−Removed: A savings institution that is a subsidiary of a savings and loan holding company, such as the Company, that proposes to make a capital distribution must submit written notice to the OCC and FRB 30 days prior to such distribution.
+Added: A savings institution that is a
+Added: subsidiary of a savings and loan holding company, such as the Company, that proposes to make a capital distribution must submit written notice to the OCC and FRB 30 days prior to such distribution.
The OCC and FRB may object to the distribution during that 30-day period based on safety and soundness or other concerns.
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The FDIC assesses deposit insurance premiums on all FDIC-insured institutions quarterly based on annualized rates.
−Removed: Under these rules, assessment rates for an institution with total assets of less than $10 billion are determined by capital adequacy, asset quality, management, earnings, liquidity, and sensitivity (CAMELS) composite ratings and certain financial ratios, and range from 2.5 to 32.0 basis points, subject to certain adjustments.
+Added: Under these rules, assessment rates for an institution with total assets of less than $10 billion are determined by CAMELS composite rating (capital adequacy, asset quality, management, earnings, liquidity, and sensitivity to market rates) and certain financial ratios, and range from 2.5 to 32.0 basis points, subject to certain adjustments.
Assessment rates for an institution with $10 billion or more in total assets are assigned an individual rate based on a scorecard that measures the institution's composite rating, ability to withstand asset-related and funding-related stress and the magnitude of potential losses to the FDIC in the event of failure.
10 unchanged sentences
In connection with its lending activities, the Bank is subject to a number of federal laws designed to protect borrowers and promote lending to various sectors of the economy and population.
−Removed: These include the Equal Credit Opportunity Act, the Truth-in-Lending Act, the Home Mortgage Disclosure Act, the Real Estate Settlement Procedures Act, the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 ("SAFE Act"), and the Community Reinvestment Act ("CRA").
−Removed: With respect to federal consumer protection laws, regulations are generally promulgated by the Consumer Financial Protection Bureau ("CFPB"), but the OCC, rather than the CFPB, currently
−Removed: examines the Bank for compliance with such laws and regulations because the Bank's regulatory assets have yet to exceed $10 billion for four consecutive quarter-ends.
+Added: These include the Equal Credit Opportunity Act, the Truth-in-Lending Act, the Home Mortgage Disclosure Act, the Real Estate Settlement Procedures Act, the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 ("SAFE Act"), Service Members Civil Relief Act, and the Community Reinvestment Act ("CRA").
+Added: With respect to federal consumer protection laws, regulations are generally promulgated by the Consumer Financial Protection Bureau ("CFPB"), but the OCC, rather than the CFPB, currently examines the Bank for compliance with such laws and regulations because the Bank's regulatory assets have yet to exceed $10 billion for four consecutive quarter-ends.
The CRA requires the appropriate federal banking agency, in connection with its examination of an FDIC-insured institution, to assess its record in meeting the credit needs of the communities served by the institution, including low and moderate income neighborhoods.
12 unchanged sentences
At September 30, 2025, the Bank had no outstanding borrowings from the discount window.
−Removed: In March 2023, the FRB created a Bank Term Funding Program ("BTFP") to make additional funding available to eligible depository institutions.
−Removed: Advances could have been requested under the BTFP until March 11, 2024.
−Removed: The BTFP offered loans up to one year in length that could be prepaid without penalty.
−Removed: The amount that could be borrowed under the BTFP was based upon the par value of the securities pledged as collateral to the FRB.
−Removed: At September 30, 2023, the Bank had $500.0 million of BTFP borrowings.
−Removed: In October 2023, the Bank paid off the $500.0 million of BTFP borrowings and did not enter into additional BTFP borrowings during fiscal year 2024.
Federal Home Loan Bank System.
The Bank is a member of one of 11 regional Federal Home Loan Banks, each of which serves as a reserve, or central bank, for its members within its assigned region and is funded primarily from proceeds derived from the sale of consolidated obligations of the Federal Home Loan Bank System.
−Removed: The Federal Home Loan Banks make loans, called advances, to members and provide access to a line of credit in accordance with policies and procedures established by the Board of Directors of FHLB, which are subject to the oversight of the Federal Housing Finance Agency.
+Added: The Federal Home Loan Banks make loans, known as advances, to members and provide access to a line of credit in accordance with policies and procedures established by the Board of Directors of FHLB, which are subject to the oversight of the Federal Housing Finance Agency.
At September 30, 2025, the Bank had $1.95 billion of FHLB advances, at par.
11 unchanged sentences
The HOLA prohibits a savings and loan holding company (directly or indirectly, or through one or more subsidiaries) from acquiring another savings association, or holding company thereof, without prior written approval from the FRB;
−Removed: acquiring or retaining, with certain exceptions, more than 5% of a non-subsidiary savings association, a non-subsidiary holding company, or a non-subsidiary company engaged in activities other
−Removed: than those permitted by the HOLA;
+Added: acquiring or retaining, with certain exceptions, more than 5% of a non-subsidiary savings association, a non-subsidiary holding company, or a non-subsidiary company engaged in activities other than those permitted by the HOLA;
or acquiring or retaining control of a depository institution that is not federally insured.
1 unchanged sentence
The FRB has long set forth in its regulations its "source of strength" policy, which requires bank holding companies to act as a source of strength to their subsidiary depository institutions by providing capital, liquidity and other support in times of financial stress.
−Removed: This policy now also applies to savings and loan holding companies.
+Added: This policy also applies to savings and loan holding companies.
Transactions with Affiliates.
16 unchanged sentences
See additional discussion regarding the Bank's pre-1988 bad debt recapture in "Part IA.
−Removed: Risk Factors - Other Risks", "Part II.
−Removed: Management's Discussion and Analysis of Financial Condition and Results of Operations - Comparison of Operating Results for the Years Ended September 30, 2024 and 2023" and "Part II, Item 8.
+Added: Risk Factors - Other Risks" and "Part II, Item 8.
Financial Statements and Supplementary Data - Notes to Consolidated Financial Statements - Note 9.
6 unchanged sentences
The Bank files a Kansas privilege tax return.
−Removed: For Kansas privilege tax purposes, the minimum tax rate is 4.5% of earnings during fiscal year 2024, which is calculated based on federal taxable income, subject to certain adjustments.
+Added: For Kansas privilege tax purposes, the minimum tax rate was 4.18% of earnings during fiscal year 2025, which is calculated based on federal taxable income, subject to certain adjustments.
The Bank has not received notification from the state of any potential tax liability for any years still subject to audit.
−Removed: The Bank's minimum rate for the Kansas privilege tax return will be reduced to 4.18% of earnings starting in fiscal year 2025.
Additionally, the Bank files state tax returns in 16 other states and two cities where it has significant loan balances.
10 unchanged sentences
Capitol Federal employees recorded over 4,976 hours in volunteer time for local organizations and charities during fiscal year 2025.
−Removed: Our Company respects, values and encourages diversity in our employees and customers.
−Removed: We seek to recognize and develop the unique contributions each individual brings to our Company, and we are fully committed to maintaining a culture of diversity as a pillar of our values and our success.
−Removed: These efforts are supported by our Board of Directors.
+Added: Our Company seeks to recognize and develop the unique contributions each individual brings to our Company, and we are fully committed to maintaining a culture that supports our corporate values.
+Added: We strive to maintain a workforce reflective of the communities we serve.
+Added: In addition, our Board of Directors is comprised of members with varying backgrounds, education and experiences to help us understand and support our customers and stockholders.
Since 1977, at least one woman has served as a director of the Bank and, since its inception in 1999, at least one woman has served on the Board of Directors of the Company.
−Removed: In addition, since 2012, at least one underrepresented minority has served as a director of the Company and the Bank.
−Removed: The Board of Directors annually reviews the Company's diversity recruitment efforts and employment statistics.
−Removed: To assist in expanding diversity, the Company recruits employees through sources and organizations targeted at diverse communities.
+Added: In addition, since 2012, at least one underrepresented minority has served as a director of the
+Added: Company and the Bank.
+Added: The Board of Directors annually reviews the Company's recruitment efforts and employment statistics.
+Added: The Company recruits employees through sources and organizations across a variety of networks and communities.
The Company also provides multiple opportunities for professional development and growth, including continuing education when applicable and specialty education within banking.
1 unchanged sentence
Education for this program is currently provided by Banktastic.
−Removed: Annual employee educational requirements include targeted diversity, equity and inclusion training for all managers.
−Removed: All employees receive annual training on providing fair, high-quality service and understanding the causes of discrimination.
−Removed: The Company actively participates in initiatives to promote diversity and inclusion, both internally and externally.
−Removed: The Company has an Inclusion Task Force that promotes diversity and inclusion.
−Removed: During the current fiscal year, the Inclusion Task Force hosted events such as book and documentary discussions and developed an internal community webpage.
−Removed: Our employees, together with the Capitol Federal Foundation, contribute to programs that promote educational opportunities in all communities as well as housing in low-and-moderate income communities, including scholarships specifically for diverse candidates.
+Added: Annual employee educational requirements include respectful treatment of all other employees and customers.
+Added: All employees receive annual training on providing fair, high-quality service and understanding the causes of legal ramifications of discrimination.
+Added: Our employees, together with the Capitol Federal Foundation, contribute to programs that promote educational opportunities in all communities as well as housing in low-and-moderate income communities.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.