1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
1. Investment Snapshot
2. Valuation
Discussion
Symbol
CPBI
Event Date
2023-10-20
Sector
Financials
Subsector
Banks
Offer Range
$10.00
Shares Offered
4.13M
4.13M
$41.3M
100.0%
Implied Upside vs Midpoint
Description
Central Plains Bancshares was incorporated on June 13, 2023, and has not engaged in any business to date. Upon completion of the conversion and stock offering, Central Plains Bancshares will register as a savings and loan holding company and will be subject to comprehensive regulation and examination by the Board of Governors of the Federal Reserve System, referred to as the “Federal Reserve Board” throughout this prospectus. Central Plains Bancshares’ principal office is located at 221 South Locust Street, Grand Island, Nebraska 68801, and the telephone number at that address is (308) 382-4000. Home Federal Savings and Loan Association of Grand Island Originally chartered in 1935, Home Federal Savings, which operates under the name “Home Federal Bank,” is a federally-chartered mutual savings association headquartered in Grand Island, Nebraska. We conduct our operations from our main office in Grand Island, Nebraska, six branch offices located in Grand Island, Hastings, Holdrege, Lexington and Superior, Nebraska, a drive-up facility in Grand Island, Nebraska and a loan production office in Lincoln, Nebraska. We consider our primary market area for deposit gathering to be the Nebraska counties of Adams, Dawson, Hall, Nuckolls and Phelps, with Lancaster County included in our primary market area for lending activities. Our business consists primarily of accepting deposits from the general public and investing those deposits, together with funds generated from operations, in one- to four-family residential mortgage loans secured by properties located in our primary market area, as well as commercial real estate loans. To a lesser extent, we also originate commercial and industrial loans, multi-family residential real estate loans, construction and land development loans, agricultural real estate and non-real estate loans and consumer loans. We offer a variety of deposit accounts including checking accounts, savings accounts and certificate of deposit accounts. In addition, we offer electronic banking services including mobile banking, on-line banking and bill pay, and electronic funds transfer via Zelle®. We have not needed to use significant levels of borrowings to fund our operations in recent years. In recent years, we have increased, at a managed pace and consistent with what we believe to be conservative underwriting standards, our originations of higher yielding commercial real estate loans. We intend to continue that focus after the conversion and stock offering. At March 31, 2023, we had total assets of $437.8 million, total deposits of $391.0 million and total equity of $38.7 million. We had net income of $1.6 million and $3.1 million for the fiscal years ended March 31, 2023 and 2022, respectively. We are subject to comprehensive regulation and examination by the Office of the Comptroller of the Currency (the “OCC”), our primary federal regulator. Our main office is located at 221 South Locust Street, Grand Island, Nebraska 68801, and our telephone number at that address is (308) 382-4000. Our website address is www.homefederalne.bank.
Central Plains Bancshares, Inc. annual income statement and balance sheet, FY 2023 to FY 2026, as reported in SEC filings.
| Metric | FY 2023 | FY 2024 | FY 2025 | FY 2026 |
|---|---|---|---|---|
| Net income | $1.6M | $3.8M | $3.7M | $4.0M |
| Metric | FY 2023 | FY 2024 | FY 2025 | FY 2026 |
|---|---|---|---|---|
| Total assets | $438M | $463M | $509M | $559M |
| Total liabilities | $399M | $385M | $425M | $470M |
| Total equity | $38.7M | $78.3M | $83.3M | $89.0M |
| Cash & equivalents | $16.6M | $11.5M | $28.7M | $29.9M |