Central Plains Bancshares (CPBI) Q4 2024 earnings summary

Executive summary

• FY ended Mar. 31, 2025: net income was $3.654m, down 2.8% YoY, while net interest income rose 13.2% to $16.3m.

• Assets grew 9.8% to $508.7m; deposits increased 10.9% to $416.2m and gross loans rose 5.8% to $402.2m.

Financial highlights

• Interest and dividend income increased 17.8% to $24.7m; interest expense rose 26.6% to $8.2m, lifting net interest income to $16.489m from $14.473m.

• Provision for credit losses was $200k vs. $88k; income before tax was $4.523m vs. $4.636m, and net income was $3.654m vs. $3.759m.

• Non-interest income declined 8.5% to $2.610m; non-interest expense rose 14.1% to $14.376m, including higher salaries and public-company, audit and compliance costs.

• Basic and diluted EPS were $0.96 vs. $2.19; FY2024 weighted-average shares covered only the post-conversion period beginning Oct. 19, 2023.

Outlook and guidance

• Management expects sufficient funds for current commitments and anticipates retaining a significant portion of maturing time deposits, based on retention experience and current pricing strategy.

• $86.7m of certificates of deposit, excluding retirement accounts, mature within one year; lower retention could require higher deposit rates or borrowings, increasing interest expense.

• FY2026 expected pension contribution is $600k; the new Hastings branch opened in May 2025, while Lincoln occupancy permits were issued in March 2025.