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Sep 30, 2021
TFS Financial Q4 2021 Earnings Report
Net income increased due to a rise in net interest income and a decrease in non-interest expense, despite a decline in net gain on loan sales.
Key Takeaways
TFS Financial Corporation reported a net income of $17.0 million for the quarter ended September 30, 2021, compared to $13.6 million for the same quarter in the previous year. The increase was driven by higher net interest income and lower non-interest expense, partially offset by lower net gain on the sale of loans. Loan origination volumes remained high, and the credit profile of customers remained strong.
Net income increased to $17.0 million compared to $13.6 million in the prior year quarter.
Net interest income rose to $57.4 million from $50.2 million in the prior year quarter.
Non-interest expense decreased to $47.4 million from $50.6 million in the prior year quarter.
Total assets decreased to $14.06 billion from $14.64 billion year-over-year.
TFS Financial
TFS Financial
Forward Guidance
This report contains forward-looking statements and our actual future results may be materially different from the results indicated by any forward-looking statements.