Capitol Federal Financial in Topeka, Kan., will amend its quarterly results, reducing its previously reported loss, to correct its accounting treatment for certain securities sales.
The $10.2 billion-asset company said that it should have recorded $13.3 million of securities losses in the current quarter.
As a result, the company’s net loss for the previous quarter was lowered from $111.7 million to $101.7 million.
The company sold $1.3 billion of securities – 94% of its portfolio – incurring a $206 million pretax loss from the sales.
The sales should lower the bank’s assets to $9.7 billion by the end of this year.