Welcome to our dedicated page for Tfs Finl news (Ticker: TFSL), a resource for investors and traders seeking the latest updates and insights on Tfs Finl stock.
TFS Financial Corporation (NASDAQ: TFSL), the holding company for Third Federal Savings and Loan Association of Cleveland, regularly issues news updates that reflect its focus on residential mortgage lending, home equity lending and retail deposit gathering. Company press releases cover topics such as quarterly and annual earnings, dividend declarations, capital and funding developments, and operational performance metrics.
Investors following TFSL news will see detailed discussions of net interest income, net interest margin, interest rate spread, provisions for credit losses and changes in the residential mortgage and home equity loan portfolios. The company also reports on deposit trends across savings accounts, checking accounts, money market accounts and certificates of deposit, as well as the use of Federal Home Loan Bank advances and brokered deposits in its funding mix.
News from TFS Financial frequently includes announcements of quarterly cash dividends on its common stock and explanations of the mutual holding company’s decisions to waive receipt of dividends on the majority stake it owns, subject to member approval and Federal Reserve non‑objection. Earnings releases provide insight into loan originations and acquisitions, loan sales and gains on sale, fee and service charge income, and non‑interest expenses such as salaries, marketing services and office-related costs.
In addition to financial results and dividends, TFSL news may highlight leadership changes at Third Federal, updates on stock repurchase activity authorized by the Board, and information about regulatory capital ratios under the Basel III framework. The Association also issues releases on community initiatives, including support for free income tax preparation events for qualifying individuals and families.
By reviewing the TFSL news feed, readers can track how management describes the performance of the mortgage and home equity businesses, deposit growth strategies, capital strength and community involvement. This page aggregates those press releases and related disclosures so that investors, customers and observers can monitor the company’s publicly reported developments over time.
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.
TFS Financial Corporation (NASDAQ: TFSL) reported net income of $23.0 million for Q2 2021, up from $17.3 million in Q2 2020. For the first half of 2021, net income rose to $48.0 million from $42.9 million. This increase was mainly due to higher gains from loan sales and improved credit loss estimates, despite a decrease in net interest income, which fell 9.29% year-over-year. Total assets decreased by $177.4 million to $14.46 billion, influenced by loan sales and repayments. Loan delinquencies declined, reflecting stronger economic trends.
TFS Financial Corporation (NASDAQ: TFSL) announced a quarterly cash dividend of $0.28 per share, payable on March 23, 2021, to stockholders of record by March 9, 2021. The mutual holding company, Third Federal Savings and Loan Association of Cleveland, which owns 80.9% of the Company’s stock, waived its right to receive this dividend. This waiver aligns with the previously approved plan allowing the MHC to forgo dividends up to $1.12 per share over four quarters ending June 30, 2021. TFS Financial's total assets were $14.6 billion as of December 31, 2020.
TFS Financial Corporation (NASDAQ: TFSL) reported a net income of $25.0 million for Q4 2020, down from $25.6 million in Q4 2019. This decline was attributed to decreased net interest income, which fell by $5.5 million to $58.7 million, influenced by lower yields on interest-earning assets. Non-interest income rose to $21.5 million, driven mainly by net gains from loan sales amounting to $16.4 million on $293.5 million of loans sold. The provision for loan losses showed a credit of $2.0 million, while total assets decreased slightly to $14.57 billion. The company declared a quarterly dividend of $0.28 per share.
Third Federal (NASDAQ: TFSL) announced its first-ever virtual Annual Winter Meeting, where CEO Marc Stefanski revealed that all 1,000 associates will receive a $1,500 net bonus, alongside their usual year-end bonuses. This reward acknowledges the hard work and dedication of associates during a challenging year, amid a significant refinance boom that boosted loan originations from $1.8 billion to over $3 billion in 2020. The company has also provided additional perks, reflecting a commitment to employee welfare and service excellence.
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