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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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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