CFSB Bancorp, Inc. reported a modest increase in total assets, rising to $366.2 million as of March 31, 2025, up from $363.4 million at the end of the previous fiscal year. This growth was primarily driven by a $2.8 million increase in net loans, which reached $173.2 million, reflecting a 1.6% rise. The bank's cash and cash equivalents also saw a 4.8% increase, totaling $28.3 million. However, the company experienced a decrease in securities held to maturity, which fell by $1.1 million to $145.9 million, attributed to maturities and principal repayments.
In terms of profitability, CFSB Bancorp reported a net income of $4,000 for the three months ended March 31, 2025, a significant improvement from a net loss of $40,000 during the same period in 2024. The increase in net interest income, which rose by 7.0% to $1.8 million, contributed to this positive outcome. Interest and dividend income increased by 8.6% to $3.3 million, driven by higher yields on loans and securities. Conversely, non-interest income decreased slightly by 4.2% to $160,000, primarily due to lower customer service fees.
The bank's total liabilities increased by 1.1% to $290.5 million, largely due to a $3.0 million rise in deposits, which reached $273.8 million. This increase was primarily in certificates of deposit, which rose by 4.4%. The bank's stockholders' equity decreased by 0.5% to $75.7 million, influenced by the net loss for the nine months ended March 31, 2025, and the repurchase of shares.
CFSB Bancorp's operational metrics showed a slight decline in the allowance for credit losses, which decreased to $1.5 million, or 0.86% of total loans, down from $1.6 million, or 0.91% of total loans, a year earlier. The bank's management attributed this decrease to improved asset quality and changes in loan composition. Looking ahead, the bank remains focused on maintaining a strong liquidity position and plans to continue leveraging its deposit base to support loan growth while managing interest rate risk effectively.
About CFSB Bancorp, Inc. /MA/
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