Kansas’ Capitol Federal Savings was lauded this morning on NBC’s Today Show as “the little bank that could.”
The Topeka-based thrift was held up as an example of a financial institution that held true to its values and high standards “even when it seemed nothing could go wrong.”
The story shouldn’t come as a surprise to Eagle readers. In fact, Eagle banking reporter Jerry Siebenmark traveled to Topeka earlier this year and wrote about Cap Fed for a story that appeared in the Feb. 7 issue of Business Today.
It is nice, however, to see a local bank get some national recognition for doing things right. It’s also being recognized on Wall Street, where its stock (CFFN) is up about 35 percent in the past year. The S&P 500 is down about 40 percent in the same period.
My only criticism about the story: Why is it that national reporters always have to bring up Dorothy?
2 Comments
Years ago when we had the big S&L fiasco those institutions that stayed true (blue?) to their roots came through unscathed. This is true again. They remained ‘dull as dirt’ but ended up on top.
Lending to those that can actually afford the loan payments and are only buying the home to live in — what a radical business concept. “Dull as dirt” has its upside, doesn’t it; sort of the way banking is meant to be. Come to think of it, Warren Buffett’s business model is also dull and lethargic, but look what it’s done for him and his shareholders. In the long run, dull is exciting!