In December, The $9.6 billion-asset thrift company raised $1.2 billion in second-step conversion and invested much of the proceeds in mortgage-backed and other securities. The increased earnings were largely a result of the yields on those securities, Capitol Federal said in a news release Friday.
For the nine months that ended June 30, Capitol Federal said that profits declined 59% year over year primarily because it contributed $40 million to a charitable foundation it set up with funds it raised in the stock offering.
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