TFS Financial CORP

For the period ended Jun 30, 2024. Filed Aug 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.

Jun 30, 2024 · Filed Aug 8, 2024

TFSL$16.54-0.3%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (In thousands)

	For the Nine Months Ended June 30,
	2024	2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$61,373	$55,704
Adjustments to reconcile net income to net cash provided by operating activities:
ESOP and stock-based compensation expense	7,127	7,598
Depreciation and amortization	14,075	13,387
Deferred income taxes	(200)	(174)
Provision (release) for credit losses	(2,500)	(2,000)
Net gain on the sale of loans	(1,646)	(617)
Other net (gains) losses	276	(225)
Proceeds from sales of loans held for sale	67,711	34,819
Loans originated and principal repayments on loans for sale	(88,404)	(33,940)
Increase in bank owned life insurance contracts	(7,638)	(6,520)
Net decrease (increase) in interest receivable and other assets	4,212	(23,702)
Net increase in accrued expenses and other liabilities	92,894	32,566
Net cash provided by operating activities	147,280	76,896
CASH FLOWS FROM INVESTING ACTIVITIES:
Loans originated	(2,113,358)	(2,515,388)
Principal repayments on loans	1,980,087	1,868,345
Proceeds from sales, principal repayments and maturities of:
Securities available for sale	118,313	62,563
Proceeds from sale of:
Loans	106,561	23,018
Real estate owned	983	319
FHLB stock	49,530	—
Purchases of:
FHLB stock	(34,515)	(34,808)
Securities available for sale	(121,092)	(124,190)
Premises and equipment	(2,349)	(4,048)
Other	3,001	88
Net cash used in investing activities	(12,839)	(724,101)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net increase in deposits	564,596	145,140
Net decrease in borrowers' advances for insurance and taxes	(57,660)	(42,891)
Net decrease in principal and interest owed on loans serviced	(12,944)	(13,403)
Net increase (decrease) in short-term borrowed funds	(742,000)	518,050
Net increase (decrease) in Fed Funds purchased	—	(225,000)
Proceeds from long-term borrowed funds	575,000	350,000
Repayment of long-term borrowed funds	(276,766)	(2,232)
Cash collateral/settlements received from (provided to) derivative counterparties	(44,851)	33,561
Acquisition or net settlement of treasury shares	(1,924)	(5,636)
Dividends paid to common shareholders	(44,203)	(43,733)
Net cash (used in) provided by financing activities	(40,752)	713,856
NET INCREASE IN CASH AND CASH EQUIVALENTS	93,689	66,651
CASH AND CASH EQUIVALENTS—Beginning of period	466,746	369,564
CASH AND CASH EQUIVALENTS—End of period	$560,435	$436,215
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest on deposits	$213,378	$116,252
Cash paid for interest on borrowed funds	178,708	129,871
Cash paid (received) for interest on interest rate swaps	(67,081)	(29,356)
Cash paid for income taxes	13,724	17,444
SUPPLEMENTAL SCHEDULES OF NONCASH INVESTING AND FINANCING ACTIVITIES:
Transfer of loans to real estate owned	247	589
Transfer of loans from held for investment to held for sale	112,917	22,899
Transfer of loans from held for sale to held for investment	771	8,433
Treasury stock issued for stock benefit plans	5,831	1,769

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