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
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Income
CONSOLIDATED STATEMENTS OF INCOME (unaudited)
(In thousands, except share and per share data)
| For the Three Months Ended · For the Nine Months Ended | ||||
|---|---|---|---|---|
| June 30, | June 30, | |||
| 2024 | 2023 | 2024 | 2023 | |
| INTEREST AND DIVIDEND INCOME: | ||||
| Loans, including fees | $166,268 | $144,347 | $491,273 | $410,847 |
| Investment securities available for sale | 4,663 | 3,712 | 13,534 | 10,229 |
| Other interest and dividend earning assets | 13,975 | 8,598 | 40,751 | 22,103 |
| Total interest and dividend income | 184,906 | 156,657 | 545,558 | 443,179 |
| INTEREST EXPENSE: | ||||
| Deposits | 75,521 | 48,905 | 212,532 | 118,636 |
| Borrowed funds | 40,112 | 38,973 | 123,283 | 111,339 |
| Total interest expense | 115,633 | 87,878 | 335,815 | 229,975 |
| NET INTEREST INCOME | 69,273 | 68,779 | 209,743 | 213,204 |
| PROVISION (RELEASE) FOR CREDIT LOSSES | (500) | — | (2,500) | (2,000) |
| NET INTEREST INCOME AFTER PROVISION (RELEASE) FOR CREDIT LOSSES | 69,773 | 68,779 | 212,243 | 215,204 |
| NON-INTEREST INCOME: | ||||
| Fees and service charges, net of amortization | 2,097 | 1,919 | 5,690 | 5,779 |
| Net gain on the sale of loans | 723 | 21 | 1,646 | 617 |
| Increase in and death benefits from bank owned life insurance contracts | 2,254 | 2,790 | 7,638 | 7,151 |
| Other | 1,171 | 1,113 | 3,308 | 2,782 |
| Total non-interest income | 6,245 | 5,843 | 18,282 | 16,329 |
| NON-INTEREST EXPENSE: | ||||
| Salaries and employee benefits | 26,845 | 25,332 | 81,462 | 84,125 |
| Marketing services | 4,867 | 7,023 | 14,397 | 21,407 |
| Office property, equipment and software | 7,008 | 7,246 | 21,156 | 20,848 |
| Federal insurance premium and assessments | 3,258 | 3,574 | 11,049 | 9,823 |
| State franchise tax | 1,244 | 1,230 | 3,658 | 3,706 |
| Other expenses | 7,566 | 8,472 | 21,541 | 21,736 |
| Total non-interest expense | 50,788 | 52,877 | 153,263 | 161,645 |
| INCOME BEFORE INCOME TAXES | 25,230 | 21,745 | 77,262 | 69,888 |
| INCOME TAX EXPENSE | 5,277 | 4,142 | 15,889 | 14,184 |
| NET INCOME | $19,953 | $17,603 | $61,373 | $55,704 |
| Earnings per share—basic and diluted | $0.07 | $0.06 | $0.22 | $0.20 |
| Weighted average shares outstanding | ||||
| Basic | 278,291,376 | 277,472,312 | 278,104,352 | 277,384,689 |
| Diluted | 279,221,360 | 278,590,810 | 279,072,087 | 278,507,602 |
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