Tfs Finl Corp Stock Price, News & Analysis

TFS Financial Corporation (NASDAQ: TFSL) reported a net income of $17.0 million for the quarter and $81.0 million for the fiscal year ended September 30, 2021. This reflects a year-over-year increase from $13.6 million and a decrease from $83.3 million, respectively. Loan originations rose by 20%, totaling $3.63 billion. Net interest income decreased by 4.4% to $231.6 million due to lower yields. The allowance for credit losses increased, indicating improved credit profiles. Total assets decreased by 4.0% to $14.06 billion.

TFS Financial Corporation (NASDAQ: TFSL) announced a quarterly cash dividend of $0.2825 per share, payable on September 21, 2021, to shareholders of record by September 7, 2021. The mutual holding company, which owns 80.9% of the company’s common stock, has waived its right to receive this dividend. Previously, it waived dividends of $1.12 per share for the four quarters ending June 30, 2021. As of June 30, 2021, the company’s total assets were reported at $14.2 billion.

TFS Financial Corporation (NASDAQ: TFSL) reported a net income of $16.0 million for Q3 2021, down from $26.8 million in Q3 2020, primarily due to reduced loan sales and net interest income. For the nine months ending June 30, 2021, net income totaled $64.0 million, compared to $69.7 million the previous year. Loan originations increased by over 30%, with first mortgage origination at $845 million in Q3 2021. However, net interest income fell to $57.1 million, reflecting a 9.32% drop year-over-year. Total assets stood at $14.24 billion.

Third Federal's Chairman and CEO, Marc A. Stefanski, announced a $500,000 donation to The Literacy Cooperative to establish the Kurt Karakul Prize, honoring the Foundation's president since 2007. This grant aims to acknowledge individuals who champion literacy in their communities, furthering Kurt’s legacy of improving reading scores for local children. The Third Federal Foundation, established in 2007 with an endowment of $50 million, has historically supported various initiatives, including pandemic relief efforts. Third Federal, public since 2007 (Nasdaq: TFSL), operates across 25 states and D.C., with assets totaling $14.5 billion as of September 30, 2019.

TFS Financial Corporation (Nasdaq: TFSL) announced a special meeting for its mutual holding company, where members will vote on waiving their right to quarterly dividends of up to $1.13 per share for the next 12 months. This meeting is scheduled for July 13, 2021. The waiver aims to benefit customers and shareholders, according to Chairman and CEO Marc A. Stefanski. However, if the waiver is not approved, public stockholders might see a reduction in expected dividends. The MHC previously secured a waiver approval in July 2020.

TFS Financial Corporation (NASDAQ: TFSL) has declared a quarterly cash dividend of $0.28 per share, payable on June 22, 2021, to stockholders of record as of June 8, 2021. The mutual holding company, which owns 80.9% of the Company’s common stock, has opted to waive its right to receive this dividend. This decision follows approval from its members and the Federal Reserve Bank of Cleveland.

As of March 31, 2021, TFS Financial's assets reached $14.5 billion.

Kurt Karakul, President and Executive Director of the Third Federal Foundation, will retire in June, transitioning to an advisory role until the end of 2021. He has spearheaded the Slavic Village P-16 program for 14 years, enhancing academic support in Cleveland. Chairman Marc A. Stefanski praised his community activism and leadership. The Foundation, established in 2007 with $50 million in stock and $5 million in cash, has funded various initiatives, including pandemic relief. Emily Thome will succeed Karakul as President and Executive Director, bringing 20 years of nonprofit experience.

A COVID-19 vaccine clinic is now open in Slavic Village, where vaccination rates are under 18%. The clinic, hosted by MetroHealth, offers the Pfizer vaccine for individuals aged 16 and older at a drive-thru and walk-thru location. Nearly 200 people have pre-registered, and additional clinics are scheduled for May 13 and May 20, welcoming walk-ins. The vaccine is provided free of charge. The clinic operates today, May 6, from noon to 7 PM, with media availability for executives from 12:30 to 1:30 PM.

Third Federal is hosting a drive-thru/walk-thru COVID-19 vaccine clinic on May 6, 13, and 20 in Cleveland’s Slavic Village. Targeting vulnerable areas, this initiative aims to improve the low vaccination rates in zip codes 44105 and 44104. Operating from noon to 7 PM, the clinics will administer the Pfizer vaccine to individuals aged 16 and older. Pre-registration is encouraged, and walk-ups will be accepted. Third Federal, which has $14.6 billion in assets, emphasizes its commitment to community health alongside MetroHealth.