Business

Cap Fed conversion leads to quarterly loss

The holding company of Capitol Federal Savings said today it posted a loss of $11.3 million in the quarter ended Dec. 31 because of a one-time, $40 million contribution to its foundation as a result of its conversion to a fully publicly traded company in the same period.

The Topeka-based company said that without the contribution, net income for the quarter would have been $14.7 million, a decrease of $6.3 million from the same quarter a year ago.

Under the conversion from a mutual holding company, the two parent companies of Capitol Federal Savings — Capitol Federal Savings Bank MHC and Capitol Federal Financial — disappeared. A new holding company, Capitol Federal Financial, registered in Maryland, became the bank's parent.

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