TFS Financial CORP

Listed Company

TFSLCIK 0001381668NasdaqLarge AcceleratedSavings Institution, Federally CharteredDelawareFY ends Sep 30

Period

FY 2025

Revenue

—

Net Income

$90.96M

Total Assets

$17.46B

Equity

$1.89B

Shares Out

280.57M

Op. Cash Flow

$82.42M

Business

TFS Financial CORP is a mid-tier stock holding company that primarily owns and derives cash flow from Third Federal Savings and Loan Association of Cleveland and its subsidiaries. It offers residential mortgage origination and servicing, home equity loans and lines of credit, residential construction loans, deposit products and related banking services, and maintains investment securities and loan servicing activities through Third Capital, Inc. Key business divisions include the holding company, Third Capital, Inc., and the Association. The company distributes products through branch offices, loan production offices, a customer service call center, an internet site, brokered channels and correspondent lending partners across Ohio, Florida and selected other states.

Summary from filing dated 2025-11-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Loans, including fees	706	664	566	396	382
Investment securities available for sale	19	18	14	6	4
Other interest and dividend earning assets	38	52	32	8	4
Interest income	763	734	612	409	389
Deposits	309	293	174	77	97
Borrowed funds	162	163	154	65	60
Interest expense	470	456	328	142	—
Net interest income	293	278	284	267	232
Financing Receivable, Credit Loss, Expense (Reversal)	3	−2	−2	1	—
Net interest income after provision for loan losses	290	280	285	266	241
Net gain on the sale of loans	5	3	498,000	1	33
Increase in and death benefits from bank owned life insurance contracts	11	10	9	10	10
Other	3	4	4	3	3
Non-interest income	29	25	21	24	55
Salaries and employee benefits	110	108	113	109	109
Marketing services	19	20	25	21	19
Office property, equipment and software	29	28	28	27	26
Federal insurance premium and assessments	14	15	13	9	9
State franchise tax	5	5	5	5	5
Other expenses	28	29	29	27	28
Total non-interest expense	204	204	213	198	196
Income tax expense	24	21	18	17	19
Net income	91	80	75	75	81
Earnings per share - Basic	0.32	0.28	0.27	0.26	0.29
Earnings per share - Diluted	0.32	0.28	0.26	0.26	0.29
Basic	279	278	277	277	277
Diluted	280	279	279	279	279
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	115	100	93	92	100

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Cash and due from banks	24	26	29	19	27
Other interest-earning cash equivalents	405	437	438	351	461
Cash and cash equivalents	429	464	467	370	488
Investment securities available-for-sale	521	526	508	458	422
Mortgage loans held for sale	58	18	3	10	9
Loans, net	15,663	15,322	—	—	—
Mortgage loan servicing assets, net	9	8	7	8	9
Federal Home Loan Bank stock, at cost	235	228	247	212	163
Real estate owned, net	2	174,000	1	1	289,000
Premises, equipment, and software, net	40	33	35	35	37
Accrued interest receivable	63	59	54	40	31
Bank owned life insurance contracts	325	318	312	304	297
Other assets	112	114	117	95	92
TOTAL ASSETS	17,456	17,091	16,918	15,790	14,057
Subtotal, Deposits	10,447	10,195	—	—	—
Borrowed funds	4,870	4,793	5,274	4,793	3,092
Borrowers' advances for insurance and taxes	113	114	124	117	110
Noninterest-Bearing Deposit Liabilities, Domestic	30	29	—	—	—
Accrued expenses and other liabilities	102	98	113	84	89
Total liabilities	15,562	15,228	14,991	13,946	12,325
Commitments and contingent liabilities	—	—	—	—	—
Preferred stock	0	0	0	0	0
Common stock	3	3	3	3	3
Paid-in capital	1,758	1,754	1,755	1,751	1,747
Treasury Stock, Value	774	772	—	−772	−768
Unallocated ESOP shares	−18	−23	−27	−31	−36
Retained earnings - substantially restricted	947	915	887	870	854
Accumulated other comprehensive loss	−21	−16	85	23	−68
Total shareholders' equity	1,894	1,863	1,927	1,844	1,732
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	17,456	17,091	16,918	15,790	14,057

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
ESOP and stock-based compensation expense	10	10	10	11	14
Depreciation and amortization	23	19	18	27	33
Deferred income taxes	1	3	4	−27	−14
Other net (gains) losses	−19,000	365,000	−199,000	810,000	689,000
Proceeds from Sale, Loan, Held-for-Sale	116	115	43	41	—
Loans originated for sale	−133	−132	−45	−66	−67
Payments for (Proceeds from) Bank Owned Life Insurance Policies	−11	−10	−9	8	—
Increase (Decrease) in Accounts Receivable and Other Operating Assets	1	−4	−39	13	—
Net increase in accrued expenses and other liabilities	−13	13	36	−1	15
Net cash provided by operating activities	82	89	91	39	83
Loans originated or acquired	−3,786	−2,992	−3,549	−5,274	−4,875
Principal repayments on loans	3,123	2,712	2,605	3,448	4,757
Securities available for sale	170	142	84	164	317
Proceeds from Securitization, Loan, Held-for-Sale	285	126	34	88	740
Real estate owned	193,000	1	484,000	429,000	206,000
Proceeds from Sale of Federal Home Loan Bank Stock	25	53	0	0	—
FHLB stock	−31	−35	−35	−50	—
Purchase of securities available for sale	−160	−134	−145	−250	−297
Premises, equipment, and software	−11	−3	−5	−3	−1
Other	3	4	2	1	3
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation	−384	−125	−1,009	−1,875	547
Net Change Interest-Bearing Deposits, Domestic	261	732	520	−73	—
Net increase (decrease) in borrowers' advances for insurance and taxes	−469,000	−11	7	8	−2
Net Change Noninterest-Bearing Deposits, Domestic	2	−1	−101,000	−12	—
Fair Value of Plan Assets	283	−777	417	875	−525
Increase (Decrease) in Federal Funds Purchased	0	0	−225	225	0
Proceeds from long-term borrowed funds	225	725	350	600	100
Repayment of long-term borrowed funds	−427	−427	−78	−4	−5
Cash collateral/settlements (provided to) received from derivative counterparties	−12	−147	88	162	90
Acquisition or net settlement of treasury shares	−4	−2	−6	−6	−6
Dividends paid to common shareholders	−60	−59	−58	−58	−57
Net cash provided (used in) by financing activities	267	33	1,015	1,717	−640
Net increase (decrease) in cash and cash equivalents	−34	−3	97	−119	−10
cash paid (received) for interest on interest rate swaps	−52	−89	−50	29	45
Cash paid for income taxes	16	16	22	40	26
Transfer of loans to real estate owned	2	247,000	869,000	1	330,000
Transfer of loans from held for investment to held for sale	309	130	34	86	699
Transfer of Loans Held-for-sale to Portfolio Loans	5	9	8	23	0
Increase (Decrease) Treasury Stock For Stock Benefit Plans	2	6	2	2	—

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