TFS Financial CORP
For the period ended Dec 31, 2023. Filed Feb 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2023 · Filed Feb 8, 2024
TFSL$16.54-0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (In thousands)
| For the Three Months Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income | $20,707 | $22,193 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| ESOP and stock-based compensation expense | 2,321 | 2,631 |
| Depreciation and amortization | 4,581 | 4,209 |
| Deferred income taxes | (25) | (45) |
| Provision (release) for credit losses | (1,000) | (1,000) |
| Net gain on the sale of loans | (481) | (17) |
| Other net (gains) losses | 239 | (300) |
| Proceeds from sales of loans held for sale | 4,369 | 6,699 |
| Loans originated and principal repayments on loans for sale | (2,123) | (9,676) |
| Increase in bank owned life insurance contracts | (3,191) | (2,238) |
| Net decrease (increase) in interest receivable and other assets | 1,960 | (6,617) |
| Net increase in accrued expenses and other liabilities | 8,969 | 62,971 |
| Net cash provided by operating activities | 36,326 | 78,810 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Loans originated | (769,865) | (857,810) |
| Principal repayments on loans | 649,526 | 626,555 |
| Proceeds from sales, principal repayments and maturities of: | ||
| Securities available for sale | 79,120 | 21,945 |
| Proceeds from sale of: | ||
| Loans | 84,975 | 12,381 |
| Real estate owned | 133 | 45 |
| FHLB stock | 26,913 | — |
| Purchases of: | ||
| FHLB stock | (34,515) | (10,125) |
| Securities available for sale | (80,835) | (40,318) |
| Premises and equipment | (703) | (1,963) |
| Other | 3,414 | 457 |
| Net cash used in investing activities | (41,837) | (248,833) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Net increase in deposits | 463,767 | 92,037 |
| Net decrease in borrowers' advances for insurance and taxes | (15,324) | (8,180) |
| Net decrease in principal and interest owed on loans serviced | (607) | (1,413) |
| Net increase in short-term borrowed funds | (717,000) | (85,000) |
| Net increase (decrease) in Fed Funds purchased | — | (75,000) |
| Proceeds from long-term borrowed funds | 575,000 | 350,000 |
| Repayment of long-term borrowed funds | (100,805) | (1,142) |
| Cash collateral/settlements received from (provided to) derivative counterparties | (97,809) | (7,677) |
| Acquisition of treasury shares | (1,918) | (4,919) |
| Dividends paid to common shareholders | (14,771) | (14,666) |
| Net cash provided by financing activities | 90,533 | 244,040 |
| NET INCREASE IN CASH AND CASH EQUIVALENTS | 85,022 | 74,017 |
| CASH AND CASH EQUIVALENTS—Beginning of period | 466,746 | 369,564 |
| CASH AND CASH EQUIVALENTS—End of period | $551,768 | $443,581 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
| Cash paid for interest on deposits | $60,484 | $28,797 |
| Cash paid for interest on borrowed funds | 62,517 | 35,375 |
| Cash paid (received) for interest on interest rate swaps | (22,351) | (4,064) |
| Cash paid for income taxes | 220 | 428 |
| SUPPLEMENTAL SCHEDULES OF NONCASH INVESTING AND FINANCING ACTIVITIES: | ||
| Transfer of loans to real estate owned | — | 236 |
| Transfer of loans from held for investment to held for sale | 84,868 | 12,368 |
| Treasury stock issued for stock benefit plans | 5,824 | 1,751 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.