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Jun 30, 2022
TFS Financial Q3 2022 Earnings Report
Reported an increase in net income driven by loan growth and higher interest income.
Key Takeaways
TFS Financial Corporation reported a net income of $17.1 million for the quarter ended June 30, 2022, compared to $15.8 million for the quarter ended March 31, 2022. The increase was supported by higher interest income and holding more originated loans in the portfolio.
Net income increased to $17.1 million.
Net interest rate spread improved to 1.86%.
Loan growth reached $766 million, surpassing the previous quarter's $453 million.
Asset quality remained strong.
Forward Guidance
This report contains forward-looking statements, which can be identified by the use of such words as estimate, project, believe, intend, anticipate, plan, seek, expect and similar expressions. These forward-looking statements are subject to significant risks, assumptions and uncertainties, including, among other things, the following important factors that could affect the actual outcome of future events
Positive Outlook
- statements of our goals, intentions and expectations
- statements regarding our business plans and prospects and growth and operating strategies
- statements concerning trends in our provision for credit losses and charge-offs on loans and off-balance sheet exposures
- statements regarding the trends in factors affecting our financial condition and results of operations, including credit quality of our loan and investment portfolios
- estimates of our risks and future costs and benefits
Challenges Ahead
- significantly increased competition among depository and other financial institutions, including with respect to our ability to charge overdraft fees
- inflation and changes in the interest rate environment that reduce our interest margins or reduce the fair value of financial instruments, or our ability to originate loans
Historical Earnings Impact
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Avg. Return Before/After Earnings
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