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CFSB Bancorp, Inc. announced financial results for Q3 and year-to-date 2024, showing a net loss for Q3 but a decrease in net income year-over-year. The company faced challenges due to short-term rate changes affecting lending. Despite unchanged net interest income, the net interest margin decreased. Non-interest income varied, with expenses decreasing in Q3 but increasing year-over-year. The company recorded reversals of provisions for credit losses and saw a decrease in income tax expense. Total assets increased, primarily due to higher cash balances and FHLB stock, while liabilities saw an increase in deposits and FHLBB advances. Stockholders' equity decreased due to a net loss and changes in accounting methodology.
