TFS Financial Corporation · NASDAQ:TFSL
TFS Financial — Q3 2023 Earnings Presentation
11 slides from TFS Financial's earnings presentation, Jun 30, 2023
Slide 1: For the quarter ended June 30, 2023
For the quarter ended June 30, 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 8.99% yield based on stock price of $12.57 at 6/30/23. • 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 Nine Months \‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐Fiscal Year End (as of 09/30)‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐/ Ended 6/30/23 2022 2021 2020 2019 2018 Net Income (in 000s) $ 55,704 $ 74,565 $ 81,007 $ 83,317 $ 80,237 $ 85,407 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% $0.2500 $0.2800 $0.2800 $0.2825 $0.2825 0.00 0.00% Quarter Ended Quarter Ended Quarter Ended Quarter Ende
Slide 7: Financial Highlights
Financial Highlights (Dollars in Thousands) As of and for the three months ended As of and for the nine months ended Fiscal Year End 6/30/2023 3/31/2023 6/30/2022 6/30/2023 6/30/2022 9/30/2022 Balance Sheet Assets ($) 16,594,988 16,261,680 15,405,209 16,594,988 15,405,209 15,790,198 Net loans, inclu
Slide 8: Loan Performance & Originations
Loan Performance & Originations Strong Lending Standards • Net recoveries were recorded each of the past six fiscal years for a cumulative total of $35.0 million. Net recoveries were $9.7 million for the fiscal year ended 9/30/22. Net recoveries of $5.2 million for FY 2021 compared to $5.0 million f
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 $65,985 1% $2,866,204 19% $4,557,400 Fixed Rate 30% Ohio Total $7,217,163 ARMs Florida Total 48% HELOCs and ELOANs $7,613,593 Other Total $4,757,698 Other Consumer 51% 32%
Slide 10: Strong Deposit Funding Base Supplemented by Wholesale Borrowings
Strong Deposit Funding Base Supplemented by Wholesale Borrowings Deposit Composition Borrowings Composition $1,051,152 12% $793,050 15% Checking 12 months or less $1,927,015 21% Savings 13 to 36 months $2,758,905 $6,086,282 CDs 51% $1,875,599 37 months or more 67% 34% Weighted Avg Weighted Avg 1 1,2
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