Tfs Financial Corporation · NASDAQ:TFSL
Tfs Financial — Q3 FY2024 Earnings Presentation
11 slides from Tfs Financial's earnings presentation, Jun 30, 2024
Slide 1: For the quarter ended June 30, 2024
For the quarter ended June 30, 2024
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? 1 ‐ Regulation MM requires annual dividend waiver vote subject to annual non‐objection by the Federal Reserve Board. The FRB is performing its normal review process for the July 9, 2024 dividend waiver; the timing and determination by the FRB regarding the MHC's wa
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 Nine Months \‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐Fiscal Year End (as of 09/30)‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐/ Ended 6/30/24 2023 2022 2021 2020 2019 Net Income (in 000s) $ 61,373 $ 75,250 $ 74,565 $ 81,007 $ 83,317 $ 80,237 Earnings Per Share: ‐GAAP
Slide 6: Capital Deployment: Dividend Payment and Yield
Capital Deployment Dividend Payment and Yield2 0.35 10.00% Quarterly Dividend Per Share ($) 9.00% 0.30 8.00% 0.25 Dividend Yield (%) 7.00% 0.20 6.00% 5.00% 0.15 4.00% 0.10 3.00% 2.00% 0.05 1.00% $0.2800 $0.2800 $0.2825 $0.2825 $0.2825 0.00 0.00% Quarter Ended Quarter Ended Quarter Ended Quarter Ende
Slide 7: Financial Highlights
Financial Highlights (Dollars in Thousands) As of or for the three months ended As of or for the fiscal year ended 6/30/2024 3/31/2024 12/31/2023 9/30/2023 9/30/2022 Balance Sheet Assets ($) 17,034,940 17,017,150 17,053,791 16,917,726 15,790,198 Net loans, including held for sale ($) 15,220,353 15,1
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 $32,100 0% $3,588,820 24% Fixed Rate $4,759,672 31% Ohio Total $7,090,150 ARMs 47% Florida Total HELOCs and ELOANs $7,676,271 Other Total Other Consumer 50% $4,497,753 29%
Slide 10: Strong Deposit Funding Base Supplemented by Wholesale Borrowings
Strong Deposit Funding Base Supplemented by Wholesale Borrowings Deposit Composition Borrowings Composition $865,440 9% $975,000 20% $1,395,013 14% Checking 12 months or less $2,006,721 Savings 42% 13 to 36 months CDs 37 months or more $7,743,775 $1,825,373 77% 38% 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