Central Plains Bancshares Reports 9.8% Asset Growth and $3.7M Net Income for Fiscal Year Ending March 31, 2025

Central Plains Bancshares, Inc. reported a solid financial performance for the fiscal year ending March 31, 2025, with total assets reaching $508.7 million, a 9.8% increase from $463.3 million in the previous year. The company’s net income for the period was $3.7 million, a slight decrease of 2.8% compared to $3.8 million in the prior year. This decline was attributed to increased non-interest expenses, which rose by 14.1% to $14.4 million, primarily due to higher salaries and employee benefits as the company expanded its workforce to support growth initiatives.

The company experienced a notable increase in interest income, which rose by 17.8% to $24.7 million, driven largely by a $3.2 million increase in interest income from loans. The average balance of loans increased by 8.1% to $391.3 million, reflecting Central Plains Bancshares' focus on growing its loan portfolio while maintaining asset quality. The yield on loans also improved, rising 44 basis points to 5.68%. However, interest expense also increased significantly, up 26.6% to $8.2 million, primarily due to higher costs associated with interest-bearing liabilities.

In terms of strategic developments, Central Plains Bancshares completed its initial public offering on October 19, 2023, raising approximately $41.3 million by selling 4,130,815 shares at $10.00 each. The company has since focused on enhancing its product offerings and expanding its market presence, particularly in the Nebraska counties of Adams, Dawson, Hall, Lancaster, Nuckolls, and Phelps. As of March 31, 2025, the company had consolidated deposits of $416.2 million, a 10.9% increase from the previous year, indicating strong customer retention and growth in deposit accounts.

Operationally, Central Plains Bancshares has expanded its loan portfolio, particularly in the agricultural sector, which saw a significant increase of 117.5% to $42.8 million. The company also reported a decrease in non-performing loans as a percentage of total loans, from 0.17% to 0.36%, reflecting improved asset quality. The total employee count stood at 68 full-time and five part-time employees, with plans for further hiring to support growth strategies.

Looking ahead, Central Plains Bancshares expressed optimism about its growth trajectory, emphasizing its commitment to enhancing customer relationships and expanding its service offerings. The company plans to continue monitoring economic conditions and adjusting its strategies accordingly to maintain its competitive edge in the financial services market.