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Sep 30, 2024
TFS Financial Q4 2024 Earnings Report
Announced fourth quarter and 2024 fiscal year results, highlighting home equity and retail deposit growth.
Key Takeaways
TFS Financial Corporation reported a net income of $18.2 million for the quarter ended September 30, 2024. The decrease was mainly due to the change in the provision for credit losses and a decrease in net interest income between the two periods.
Net income was $18.2 million for the quarter ended September 30, 2024.
Net interest income decreased $0.6 million, or 0.9%, to $68.7 million for the quarter ended September 30, 2024.
Total assets increased by $55.8 million to $17.09 billion at September 30, 2024.
Deposits increased $169.1 million to $10.20 billion at September 30, 2024.
TFS Financial
TFS Financial
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.
- Estimates of our risks and future costs and benefits.
- Our ability to enter new markets successfully and take advantage of growth opportunities.
- Our ability to retain key employees.
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.
- General economic conditions, either globally, nationally or in our market areas, including employment prospects, real estate values and conditions that are worse than expected.
- The strength or weakness of the real estate markets and of the consumer and commercial credit sectors and its impact on the credit quality of our loans and other assets, and changes in estimates of the allowance for credit losses.
- Decreased demand for our products and services and lower revenue and earnings because of a recession or other events.