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Jun 30, 2023
TFS Financial Q3 2023 Earnings Report
Reported an increase in net income and loan portfolio growth despite economic headwinds.
Key Takeaways
TFS Financial Corporation reported a net income of $17.6 million for the quarter ended June 30, 2023, an increase of $1.7 million compared to the previous quarter. The loan portfolio grew by more than $320 million, and total assets increased by $333.3 million to $16.59 billion. Deposits increased by $66 million, and the company paid a $0.2825 dividend per share.
Net income increased to $17.6 million.
Residential mortgage loans increased by $490 million with an average yield of 5.69%.
Total deposits increased by $66 million.
Dividend of $0.2825 per share was paid.
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.
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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