TFS Financial CORP

For the period ended Dec 31, 2025. Filed Feb 5, 2026.

About this filing

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, 2025 · Filed Feb 5, 2026

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 Three Months Ended December 31,
	2025	2024
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$22,274	$22,426
Adjustments to reconcile net income to net cash provided by operating activities:
ESOP and stock-based compensation expense	2,654	2,349
Depreciation and amortization	6,257	5,309
Deferred income taxes	(103)	(10)
Provision (release) for credit losses	(1,000)	(1,500)
Net gain on the sale of loans	(2,329)	(1,115)
Other net losses (gains)	101	(19)
Proceeds from sales of loans originated as held for sale	32,452	34,970
Loan originations, acquisitions and principal repayments on loans held for sale	(17,212)	(22,716)
Increase in bank owned life insurance contracts	(2,603)	(2,548)
Net decrease in interest receivable and other assets	6,456	10,109
Net increase (decrease) in accrued expenses and other liabilities	11,801	(1,710)
Net cash provided by operating activities	58,748	45,545
CASH FLOWS FROM INVESTING ACTIVITIES:
Loans originated	(983,320)	(799,167)
Principal repayments on loans	840,178	733,146
Proceeds from sales, principal repayments and maturities of:
Securities available for sale	86,217	97,225
Proceeds from sale of:
Loans	89,479	47,802
Real estate owned	—	193
FHLB stock	11,695	4,522
Purchases of:
FHLB stock	(10,359)	—
Securities available for sale	(18,027)	(86,098)
Premises and equipment	(1,662)	(637)
Other	(231)	289
Net cash provided by (used in) investing activities	13,970	(2,725)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net (decrease) increase in deposits	(76,763)	14,431
Net increase in borrowers' advances for insurance and taxes	20,438	26,374
Net increase in principal and interest owed on loans serviced	11,928	10,665
Net (decrease) increase in short-term borrowed funds	(28,000)	41,000
Net increase in Fed Funds purchased	150,000	—
Proceeds from long-term borrowed funds	50,000	—
Repayment of long-term borrowed funds	(100,560)	(175,673)
Cash collateral/settlements (provided to) received from derivative counterparties	(54,391)	58,260
Acquisition or net settlement of treasury shares	(2,988)	(767)
Dividends paid to common shareholders	(15,112)	(14,897)
Net cash used in financing activities	(45,448)	(40,607)
NET INCREASE IN CASH AND CASH EQUIVALENTS	27,270	2,213
CASH AND CASH EQUIVALENTS—Beginning of period	429,439	463,718
CASH AND CASH EQUIVALENTS—End of period	$456,709	$465,931
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest on deposits	$77,621	$82,841
Cash paid for interest on borrowed funds	50,847	54,439
Cash paid (received) for interest on interest rate swaps	(8,492)	(18,173)
Cash paid for income taxes	200	113
SUPPLEMENTAL SCHEDULES OF NONCASH INVESTING AND FINANCING ACTIVITIES:
Transfer of loans to real estate owned	155	—
Transfer of loans from held for investment to held for sale	67,471	43,702
Transfer of loans from held for sale to held for investment	7,427	1,327
Treasury stock issued for stock benefit plans	3,024	1,390

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