Tfs Finl Corp Stock Price, News & Analysis

Third Federal Foundation has announced a $500,000 grant to Neighborhood Renaissance to tackle the affordable housing crisis in Palm Beach County, Florida. This three-year funding will establish a Real Estate Acquisition & Predevelopment Fund aimed at developing and preserving affordable homes for low- and moderate-income residents. The median home price is unaffordable for 80% of households in the area, exacerbated by a surge in demand. The initiative aims to create housing solutions in a competitive market.

TFS Financial Corporation (NASDAQ: TFSL) announced a quarterly cash dividend of $0.2825 per share, payable on September 20, 2022, to stockholders of record on September 6, 2022. The mutual holding company, Third Federal Savings and Loan Association of Cleveland, which owns 80.9% of the common stock, waived its right to this dividend. This follows the approval received from its members and the Federal Reserve Bank of Cleveland to waive dividend receipt up to $1.13 per share for four quarters ending June 30, 2023.

TFS Financial Corporation (NASDAQ: TFSL) reported a net income of $17.1 million for the quarter ending June 30, 2022, up from $15.8 million in the previous quarter. Loan growth surged by 67%, totaling $766 million, and net interest income rose 13.6% to $71.3 million. However, net income for the nine months dropped to $49.1 million from $64.0 million year-over-year, primarily due to a decrease in net gain on loan sales. The allowance for credit losses was $97.6 million, and total assets increased 9.6% to $15.41 billion.

TFS Financial Corporation (Nasdaq: TFSL) announced a special meeting for members of its mutual holding company to vote on waiving the right to receive up to $1.13 per share in quarterly dividends over the next year. This meeting will take place on July 12, 2022. The waiver is proposed as a measure to benefit customers and shareholders, reflecting the company’s commitment to financial stability. However, approval from both members and the Federal Reserve is required to proceed; failure to obtain this waiver could lead to reduced dividends for public stockholders.

TFS Financial Corporation (NASDAQ: TFSL) announced a quarterly cash dividend of $0.2825 per share, payable on June 21, 2022, to stockholders of record on June 7, 2022. Notably, the mutual holding company, which owns 80.9% of the Company's common stock, has waived its right to receive the dividend, previously waiving dividends totaling $0.8475 per share over the past three quarters. As of March 31, 2022, the Company's total assets stood at $14.6 billion, reflecting its ongoing commitment to providing competitive rates and services.

TFS Financial Corporation (NASDAQ: TFSL) reported its financial results for the quarter and six months ending March 31, 2022. The company achieved a net income of $15.8 million for the quarter, a decrease from $16.1 million the previous quarter. The net interest margin improved to 1.82%, and loan growth reached $453 million. However, net non-interest income dropped to $5.6 million for the quarter. The total assets rose to $14.58 billion, with strong asset quality reflected in a $1 million release of provision for credit losses.

TFS Financial Corporation (NASDAQ: TFSL) has declared a quarterly cash dividend of $0.2825 per share, payable on March 22, 2022, to stockholders of record on March 8, 2022. The mutual holding company, which owns 80.9% of the Company's common stock, waived its right to receive this dividend. This waiver follows the approval of its members and the Federal Reserve Bank of Cleveland, allowing the MHC to forgo dividends up to $1.13 per share until June 30, 2022. As of December 31, 2021, the Company reported assets totaling $14.1 billion.

Third Federal Savings & Loan, alongside local organizations, is offering free income tax preparation on February 12, 2022, for individuals earning less than $58,000. IRS-trained preparers will assist filers in claiming the Earned Income Tax Credit, a key poverty relief program. The event occurs at Cleveland Central Catholic High School from 9 AM to 3 PM. Participants can schedule appointments online or by phone. Third Federal has been aiding the community for eight years through this initiative, emphasizing the importance of tax refunds for local economies.

TFS Financial Corporation (NASDAQ: TFSL) reported a net income of $16.1 million for the quarter ending December 31, 2021, down from $17.0 million the previous quarter. Key highlights include $165 million in loan growth and improved net interest margin at 1.69%. The company maintained a $0.2825 quarterly dividend. Non-interest income decreased to $8.2 million, while total assets rose to $14.13 billion. The allowance for credit losses was $89.2 million, and total deposits fell 1% to $8.93 billion.