TFS Financial Corporation - TFSL STOCK NEWS

TFS Financial Corporation (NASDAQ: TFSL) has declared a quarterly cash dividend of $0.2825 per share, payable on March 22, 2022, to stockholders of record on March 8, 2022. The mutual holding company, which owns 80.9% of the Company's common stock, waived its right to receive this dividend. This waiver follows the approval of its members and the Federal Reserve Bank of Cleveland, allowing the MHC to forgo dividends up to $1.13 per share until June 30, 2022. As of December 31, 2021, the Company reported assets totaling $14.1 billion.

Third Federal Savings & Loan, alongside local organizations, is offering free income tax preparation on February 12, 2022, for individuals earning less than $58,000. IRS-trained preparers will assist filers in claiming the Earned Income Tax Credit, a key poverty relief program. The event occurs at Cleveland Central Catholic High School from 9 AM to 3 PM. Participants can schedule appointments online or by phone. Third Federal has been aiding the community for eight years through this initiative, emphasizing the importance of tax refunds for local economies.

TFS Financial Corporation (NASDAQ: TFSL) reported a net income of $16.1 million for the quarter ending December 31, 2021, down from $17.0 million the previous quarter. Key highlights include $165 million in loan growth and improved net interest margin at 1.69%. The company maintained a $0.2825 quarterly dividend. Non-interest income decreased to $8.2 million, while total assets rose to $14.13 billion. The allowance for credit losses was $89.2 million, and total deposits fell 1% to $8.93 billion.

TFS Financial Corporation (NASDAQ: TFSL) has declared a quarterly cash dividend of $0.2825 per share, payable on December 14, 2021, to shareholders on record as of November 30, 2021. The mutual holding company, which owns 80.9% of the company's common stock, has waived its right to this dividend, following member approval and Federal Reserve consent. As of September 30, 2021, TFS Financial's assets stood at $14.1 billion.

TFS Financial Corporation (NASDAQ: TFSL) reported a net income of $17.0 million for the quarter and $81.0 million for the fiscal year ended September 30, 2021. This reflects a year-over-year increase from $13.6 million and a decrease from $83.3 million, respectively. Loan originations rose by 20%, totaling $3.63 billion. Net interest income decreased by 4.4% to $231.6 million due to lower yields. The allowance for credit losses increased, indicating improved credit profiles. Total assets decreased by 4.0% to $14.06 billion.

TFS Financial Corporation (NASDAQ: TFSL) announced a quarterly cash dividend of $0.2825 per share, payable on September 21, 2021, to shareholders of record by September 7, 2021. The mutual holding company, which owns 80.9% of the company’s common stock, has waived its right to receive this dividend. Previously, it waived dividends of $1.12 per share for the four quarters ending June 30, 2021. As of June 30, 2021, the company’s total assets were reported at $14.2 billion.

TFS Financial Corporation (NASDAQ: TFSL) reported a net income of $16.0 million for Q3 2021, down from $26.8 million in Q3 2020, primarily due to reduced loan sales and net interest income. For the nine months ending June 30, 2021, net income totaled $64.0 million, compared to $69.7 million the previous year. Loan originations increased by over 30%, with first mortgage origination at $845 million in Q3 2021. However, net interest income fell to $57.1 million, reflecting a 9.32% drop year-over-year. Total assets stood at $14.24 billion.

Third Federal's Chairman and CEO, Marc A. Stefanski, announced a $500,000 donation to The Literacy Cooperative to establish the Kurt Karakul Prize, honoring the Foundation's president since 2007. This grant aims to acknowledge individuals who champion literacy in their communities, furthering Kurt’s legacy of improving reading scores for local children. The Third Federal Foundation, established in 2007 with an endowment of $50 million, has historically supported various initiatives, including pandemic relief efforts. Third Federal, public since 2007 (Nasdaq: TFSL), operates across 25 states and D.C., with assets totaling $14.5 billion as of September 30, 2019.

TFS Financial Corporation (Nasdaq: TFSL) announced a special meeting for its mutual holding company, where members will vote on waiving their right to quarterly dividends of up to $1.13 per share for the next 12 months. This meeting is scheduled for July 13, 2021. The waiver aims to benefit customers and shareholders, according to Chairman and CEO Marc A. Stefanski. However, if the waiver is not approved, public stockholders might see a reduction in expected dividends. The MHC previously secured a waiver approval in July 2020.