Capitol Federal Financial in Topeka, Kan., is set up upgrade its core back-office system aa it nears $10 billion of assets.
The $9.6 billion-asset company plans to complete the conversion in September 2023, Andrew Liesch, an analyst at Piper Sandler, wrote in a note to clients following meetings with top executives.
“This new core should allow [Capitol] to introduce more products and services – and at a faster pace – enhancing the customer experience,” Liesch wrote.
Leisch said that management told him that the company’s “loan pipelines are solid, though some recent large paydowns could weigh on net growth this quarter.” Finally, the net interest margin should “exhibit some positive sensitivity to rate increases, as deposit repricing is likely to lag the hikes.”