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Jun 30, 2021
TFS Financial Q3 2021 Earnings Report
TFS Financial Corporation's results for Q3 2021 were announced, revealing a decrease in net income compared to the same quarter last year, with strong loan originations.
Key Takeaways
TFS Financial Corporation reported a net income of $16.0 million for the quarter ended June 30, 2021, down from $26.8 million for the same period in 2020. The decrease was primarily due to lower gain on the sale of loans and lower net interest income. Loan originations remained strong, with a 30% increase over the previous year.
Net income decreased to $16.0 million from $26.8 million year-over-year.
Loan originations increased by more than 30% compared to the previous year.
Net interest income decreased to $57.1 million from $62.9 million year-over-year.
Net gain on sale of loans decreased to $3.4 million from $10.8 million year-over-year.
TFS Financial
TFS Financial
Forward Guidance
The company did not provide specific forward guidance in this earnings report.