TFS Financial Corporation reports news centered on its role as the holding company for Third Federal Savings and Loan Association of Cleveland, a savings and mortgage lender. Recurring updates cover quarterly operating results, net interest income, deposit mix, residential mortgage and home equity lending, credit-loss provisions, loan sales, capital ratios, and cash dividends.
Company announcements also address Third Federal’s customer programs, wealth-management access through advisory relationships, community initiatives, branch and lending-office activity in Ohio and Florida, and governance matters at the holding company and savings association.
TFS Financial Corporation (NASDAQ: TFSL) announced its financial results for the quarter and fiscal year ended September 30, 2020. The company reported a net income of $13.6 million for Q4 2020, down from $21.5 million in Q4 2019, while annual net income rose to $83.3 million from $80.2 million. First mortgage originations more than doubled to over $3 billion in 2020. However, net interest income for the fiscal year decreased by 8.7% to $242.3 million. Despite challenges from the pandemic, the company maintained strong loan quality and capital ratios, with all ratios exceeding regulatory requirements.