Business
TFS Financial Reports Third Quarter and 2025 Fiscal Year-To-Date Results
CLEVELAND--(BUSINESS WIRE)-- TFS Financial Corporation (NASDAQ: TFSL) (the "Company", "we", "our"), the holding company for Third Federal Savings and Loan
About this update from Tfs Financial Corporation
[{"type":"text","content":" CLEVELAND--(BUSINESS WIRE)--\nTFS Financial Corporation (NASDAQ: TFSL) (the \"Company\", \"we\", \"our\"), the holding company for Third Federal Savings and Loan Association of Cleveland (the \"Association\"), today announced results for the quarter and nine months ended June 30, 2025.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250730910765/en/Chairman and CEO Marc A. Stefanski\n“This quarter’s performance further reinforces my optimism for this year,” said Chairman and CEO Marc A. Stefanski. “Equity lines of credit originations have grown 17% from 2024, and our net interest margin improved six basis points this quarter to 1.81%, a nine quarter high. Our purchase mortgage activity is strong as we navigate a weaker-than-typical home buying season. Originations and acquired mortgage loans have totaled almost $700 million year-to-date. Our Tier 1 capital ratio of nearly 11% shows that we are well capitalized, and further demonstrates our strength and stability.”\n\n\nOperating Results for the Quarter Ended June 30, 2025\n\n\nThe Company reported net income of $21.5 million for the quarter ended June 30, 2025 compared to net income of $21.0 million for the quarter ended March 31, 2025. The increase was mainly attributable to an increase in net interest income, partially offset by an increase in non-interest expense.\n\n\nNet interest income increased $3.0 million, or 4.2%, to $75.0 million for the quarter ended June 30, 2025 from $72.0 million for the quarter ended March 31, 2025. The increase was primarily due to a ten basis point increase in the weighted average yield of interest-bearing assets, primarily loans, partially offset by a five basis point increase in the weighted average cost of interest-bearing liabilities. Residential mortgage loans originated during a lower interest rate environment continue to amortize and be replaced with higher-yielding residential loans, including mortgage loans and equity loans and lines of credit. The interest rate spread for the quarter ended June 30, 2025 increased five basis points from the previous quarter, to 1.50%, and the net interest margin increased six basis points during the quarter to 1.81%.\n\n\nThe Company recorded a provision for credit losses of $1.5 million for both the quarter ended June 30, 2025 and the qu...