TFS Financial Corporation - TFSL STOCK NEWS

Third Federal Savings & Loan is partnering with several organizations to provide free income tax preparation on February 11, 2023, at Cleveland Central Catholic High School. The event, which runs from 9am to 2pm, targets individuals and families earning less than $60,000. IRS-certified tax preparers will assist in identifying eligibility for the Earned Income Tax Credit (EITC), a major poverty relief program. This initiative aims to alleviate the stress and costs of tax filing for qualified participants.

Appointment information is available at refundohio.org or by calling 2-1-1.

TFS Financial Corporation (NASDAQ: TFSL) reported strong quarterly results for the period ending December 31, 2022. Net income was $22.2 million, a $6.1 million increase year-over-year, driven by a 30% increase in net interest income to $75.2 million. The Company experienced $219 million in loan growth and maintained a solid Tier 1 leverage ratio of 11.38%, well above regulatory requirements. However, net income decreased by $3.2 million compared to the previous quarter, impacted by rising marketing costs. Total assets grew to $16.13 billion, while total deposits increased by $93.3 million to $9.01 billion.

TFS Financial Corporation (NASDAQ: TFSL) declared a quarterly cash dividend of $0.2825 per share, payable on December 13, 2022. Stockholders of record on November 29, 2022 will receive this payment. The mutual holding company, which owns 81% of the common stock, waived its right to receive this dividend as approved by its members and the Federal Reserve Bank of Cleveland, allowing up to $1.13 per share in total waivers through June 30, 2023. As of September 30, 2022, TFS Financial's total assets amounted to $15.79 billion.

TFS Financial Corporation (NASDAQ: TFSL) reported net income of $74.6 million for the fiscal year ended September 30, 2022, down from $81.0 million in the previous year. Despite challenges, the company achieved over $1.7 billion in loan growth and a 15% increase in net interest income to $267.4 million. The net interest margin improved to 1.88%. Total assets rose 12% to $15.79 billion. The company also declared a $1.13 dividend per share. However, provisions for credit losses increased to $1.0 million from a release of $9.0 million a year prior.

Third Federal Foundation has announced a $500,000 grant to Neighborhood Renaissance to tackle the affordable housing crisis in Palm Beach County, Florida. This three-year funding will establish a Real Estate Acquisition & Predevelopment Fund aimed at developing and preserving affordable homes for low- and moderate-income residents. The median home price is unaffordable for 80% of households in the area, exacerbated by a surge in demand. The initiative aims to create housing solutions in a competitive market.

TFS Financial Corporation (NASDAQ: TFSL) announced a quarterly cash dividend of $0.2825 per share, payable on September 20, 2022, to stockholders of record on September 6, 2022. The mutual holding company, Third Federal Savings and Loan Association of Cleveland, which owns 80.9% of the common stock, waived its right to this dividend. This follows the approval received from its members and the Federal Reserve Bank of Cleveland to waive dividend receipt up to $1.13 per share for four quarters ending June 30, 2023.

TFS Financial Corporation (NASDAQ: TFSL) reported a net income of $17.1 million for the quarter ending June 30, 2022, up from $15.8 million in the previous quarter. Loan growth surged by 67%, totaling $766 million, and net interest income rose 13.6% to $71.3 million. However, net income for the nine months dropped to $49.1 million from $64.0 million year-over-year, primarily due to a decrease in net gain on loan sales. The allowance for credit losses was $97.6 million, and total assets increased 9.6% to $15.41 billion.

TFS Financial Corporation (Nasdaq: TFSL) announced a special meeting for members of its mutual holding company to vote on waiving the right to receive up to $1.13 per share in quarterly dividends over the next year. This meeting will take place on July 12, 2022. The waiver is proposed as a measure to benefit customers and shareholders, reflecting the company’s commitment to financial stability. However, approval from both members and the Federal Reserve is required to proceed; failure to obtain this waiver could lead to reduced dividends for public stockholders.

TFS Financial Corporation (NASDAQ: TFSL) announced a quarterly cash dividend of $0.2825 per share, payable on June 21, 2022, to stockholders of record on June 7, 2022. Notably, the mutual holding company, which owns 80.9% of the Company's common stock, has waived its right to receive the dividend, previously waiving dividends totaling $0.8475 per share over the past three quarters. As of March 31, 2022, the Company's total assets stood at $14.6 billion, reflecting its ongoing commitment to providing competitive rates and services.