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Dec 31, 2019
TFS Financial Q1 2020 Earnings Report
Net income increased due to gains from commercial property sales, loan sales, and loan loss provision credits, offset by decreased net interest income.
Key Takeaways
TFS Financial Corporation reported a net income of $25.6 million for the quarter ended December 31, 2019, compared to $20.3 million for the quarter ended December 31, 2018. Loan portfolio and retail deposits experienced growth, with minimal impact to net interest income.
Net income increased to $25.6 million compared to $20.3 million in the same quarter last year.
Loan portfolio grew by $278 million due to lower interest rates attracting refinances.
Retail deposits increased by $235 million, expanding the customer base.
Total assets reached $14.81 billion, marking a 1.8% increase from the previous quarter.
TFS Financial
TFS Financial
TFS Financial Revenue by Segment
Revenue by Segment
Fees and service charges, net of amortization Revenue
CapyFin.comNet gain on the sale of loans Revenue
CapyFin.comIncrease in and death benefits from bank owned life insurance contracts Revenue
CapyFin.comOther non-interest income Revenue
CapyFin.com