Tfs Financial Corporation · NASDAQ:TFSL
Tfs Financial — Q1 FY2024 Earnings Presentation
11 slides from Tfs Financial's earnings presentation, Dec 31, 2023
Slide 1: For the quarter ended December 31, 2023
For the quarter ended December 31, 2023
Slide 2: TFS Financial Corporation Overview
TFS Financial Corporation® Overview 1938 Founded by Ben and Gerome Stefanski, parents of our current Chairman and CEO, Marc Stefanski 1997 Organized as a mid‐tier stock holding company to own 100% of Third Federal Savings and Loan 2007 First step minority stock offering. Listed as TFSL on NASDAQ Apr
Slide 3: TFSL Stock Ownership – Why Invest?
TFSL Stock Ownership – Why Invest? Strong Dividend • Current annualized dividend of $1.13 per share represents 7.69% yield based on stock price of $14.69 at 12/29/23. • Dividend paid to minority shareholders only, subject to regulatory required MHC annual dividend waiver vote. On 7/11/23, 60% of MHC
Slide 4: Our Disciplined Strategy Drives Our Results
Our Disciplined Strategy Drives Our Results Strategic Overview • Originate and service first mortgage loans and home equity loans and lines of credit, funded through retail deposits, FHLB advances and brokered certificates of deposit. • Loyal deposit customer base provides stability to funding appro
Slide 5: Capital & Performance Highlights
Capital & Performance Highlights For Three Months \‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐Fiscal Year End (as of 09/30)‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐/ Ended 12/31/23 2023 2022 2021 2020 2019 Net Income (in 000s) $ 20,707 $ 75,250 $ 74,565 $ 81,007 $ 83,317 $ 80,237 Earnings Per Share: ‐GA
Slide 6: Capital Deployment and Dividend Payment and Yield
Capital Deployment • Dividends, managed portfolio growth, and strategic share repurchases will represent the focus for future capital deployment. • Quality loan growth of $33.2M for the quarter ended 12/31/23. • MHC member vote on 7/11/23 approved dividend waiver up to $1.13 through July 11, 2024; 9
Slide 7: Financial Highlights
Financial Highlights (Dollars in Thousands) As of or for the three months ended As of or for the fiscal year ended 12/31/2023 9/30/2023 12/31/2022 9/30/2023 9/30/2022 Balance Sheet Assets ($) 17,053,791 16,917,726 16,128,977 16,917,726 15,790,198 Net loans, including held for sale ($) 15,207,242 15,
Slide 8: Loan Performance & Originations
Loan Performance & Originations Strong Lending Standards • Net recoveries were recorded each of the past seven fiscal years for a cumulative total of $41.4 million. Net recoveries were $6.4 million for the fiscal year ended 9/30/23. Net recoveries of $9.7 million for FY 2022 compared to $5.2 million
Slide 9: Loan Composition by Product and State
Loan Composition by Product and State Loan Balances by Product Type (Held for Investment) Geographic Breakdown of Loan Balances $45,528 0% $3,197,747 21% $4,658,210 Fixed Rate 30% Ohio Total $7,288,041 ARMs Florida Total 48% HELOCs and ELOANs $7,801,930 Other Total $4,706,373 Other Consumer 51% 31%
Slide 10: Strong Deposit Funding Base Supplemented by Wholesale Borrowings
Strong Deposit Funding Base Supplemented by Wholesale Borrowings Deposit Composition Borrowings Composition $930,646 9% $900,000 18% $1,642,785 Checking 12 months or less 17% $2,407,558 Savings 13 to 36 months 48% CDs 37 months or more $7,329,576 $1,700,497 74% 34% Weighted Avg Weighted Avg 1 1,2 1,
Slide 11: Forward-Looking Statements
Forward-Looking Statements This presentation 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. These forward‐looking statements include, among other things: ● statements