Executive Summary
CFSB Bancorp Inc reported Q3 2024 revenue of $3.13 million, up 10.25% year over year and 1.79% quarter over quarter, signaling modest top-line growth within a constrained regional banking environment. Despite the revenue uptick, the quarter produced a net loss of $0.04 million and an operating loss of $0.082 million, with EPS of -$0.01. The negative profitability metrics reflect ongoing margin pressures and a near-term profitability hurdle, even as the company maintains liquidity and a solid tangible capital position. On the balance sheet, total assets stood at roughly $358.1 million, with total liabilities around $282.2 million and stockholders’ equity of $75.9 million, yielding a very conservative capital framework (debt ratio ~3.14%, debt-to-equity ~0.15). Cash and cash equivalents totaled $21.66 million at period end, and operating cash flow was modestly positive at $0.16 million, producing free cash flow of approximately $0.15 million for the quarter. The combination of stable liquidity and negative earnings suggests a path-to-profitability sensitivity to interest-rate developments, credit costs, and any restructuring of non-interest income streams. Management commentary (where available) and industry context imply a cautious outlook with a focus on balance sheet resilience and expense discipline to stabilize earnings over the near term.
Key Performance Indicators
QoQ: -4.65% | YoY:-20.71%
QoQ: 57.73% | YoY:-120.40%
QoQ: 80.95% | YoY:-111.27%
QoQ: 66.67% | YoY:-116.67%
Key Insights
Revenue: $3.13M (+10.25% YoY; +1.79% QoQ). Gross Profit: $1.826M; Gross Margin: 58.34%. Operating Income: -$0.082M (-$0.0262 on margin). Net Income: -$0.040M; Net Margin: -1.28%. EPS: -$0.01; Diluted EPS: -$0.01. EBITDA: -$0.023M; EBITDA Margin: -0.74%. Net debt position: -$10.416M (cash exceeds debt). Cash at end of period: $21.664M. Free cash flow: $0.150M. Current ratio: 0.0851; Quick ratio: 0.0851; Cash ratio: 0.0800. Total assets: $358.064M; Total liabilities: $282.202M; Total stockholders...
Financial Highlights
Revenue: $3.13M (+10.25% YoY; +1.79% QoQ). Gross Profit: $1.826M; Gross Margin: 58.34%. Operating Income: -$0.082M (-$0.0262 on margin). Net Income: -$0.040M; Net Margin: -1.28%. EPS: -$0.01; Diluted EPS: -$0.01. EBITDA: -$0.023M; EBITDA Margin: -0.74%. Net debt position: -$10.416M (cash exceeds debt). Cash at end of period: $21.664M. Free cash flow: $0.150M. Current ratio: 0.0851; Quick ratio: 0.0851; Cash ratio: 0.0800. Total assets: $358.064M; Total liabilities: $282.202M; Total stockholders’ equity: $75.862M. Trailing four-quarter revenue (approximate): $11.964M. Trailing twelve-month ROA: approximately -0.011%; ROE: approximately -0.053%. Price-to-book: 0.60; P/E: negative; P/S: 14.27 (qualitative based on relative multiple context).
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
3.13M |
10.25% |
1.79% |
| Gross Profit |
1.83M |
-20.71% |
-4.65% |
| Operating Income |
-82.00K |
-120.40% |
57.73% |
| Net Income |
-40.00K |
-111.27% |
80.95% |
| EPS |
-0.01 |
-116.67% |
66.67% |
Key Financial Ratios
operatingProfitMargin
-1.54%
operatingCashFlowPerShare
$0.03
freeCashFlowPerShare
$0.02
priceEarningsRatio
-283.14
Management Commentary
No earnings call transcript was provided in the data; as a result, no direct management quotes or quote-by-theme synthesis can be cited from the QQ3 2024 call.
Forward Guidance
Management guidance for QQ3 2024 was not disclosed in the provided data. Given the current profitability headwinds, the near-term focus is likely on preserving capital, maintaining liquidity, controlling operating costs, and pursuing core banking activities that can stabilize fee income and net interest income as interest rates evolve. Industry trends for regional banks suggest sensitivity to loan demand, deposit competition, and credit quality amid a volatile rate environment. Investors should monitor: (1) sustained liquidity and deposit stability, (2) efficiency improvements and non-interest income diversification, (3) credit cost trends and loan portfolio mix, and (4) any updates to capital strategy or potential strategic initiatives that could unlock profitability.