NASDAQ: TFSL

TFS Financial CORP

CIK 0001381668 · SIC 6035 · Savings Institutions (Federal)

Mega by assets Assets $18.1B as of Oct 11, 2026

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. These forward-looking statements include, among other things: About this business →

Every 8-K is open in full. Other 10-Ks and 10-Qs show a 3-bullet preview. A free account reads 3 more full reports a month. Generating a report requires a verified account.

Sign up free

Want to see a complete report first? Today's free report (MU 10-K) is open in full — no account needed.

8-K Filed Sep 24, 2026 · Period ending Sep 24, 2026

Summary not yet generated.

8-K Filed Aug 27, 2026 · Period ending Aug 27, 2026

Summary not yet generated.

Partner

Trade TFSL commission-free

Open an account, get a free stock.

Sign up

Investing involves risk. Free stock terms apply.

10-Q Filed Aug 6, 2026 · Period ending Jun 30, 2026 Red flag

net income $30.5M. TFS Financial Q3 net income +42.0% YoY; controls section omitted from 10-Q filing

5 material changes detected. Sign up free to read the summary.

8-K Filed Jul 30, 2026 · Period ending Jul 30, 2026

TFS Financial reports record Q3 earnings of $30.5M; MHC approved to waive up to $1.27/share

5 material changes detected. Sign up free to read the summary.

8-K Filed Jul 7, 2026 · Period ending Jul 7, 2026

TFS Financial's mutual holding company members approve dividend waiver up to $1.27/share

3 material changes detected. Sign up free to read the summary.

8-K Filed May 28, 2026 · Period ending May 28, 2026

TFS Financial declares $0.28 dividend; 81% parent waives rights, reaching waiver cap

3 material changes detected. Sign up free to read the summary.

8-K Filed May 26, 2026 · Period ending May 26, 2026

TFS Financial's parent MHC to vote on waiving up to $1.27/share in dividends over next year

3 material changes detected. Sign up free to read the summary.

10-Q Filed May 7, 2026 · Period ending Mar 31, 2026

net income $23.2M. TFS Financial Q2 net income up 10.6% YoY; Fed rate cuts squeeze HELOC yields 66bp

5 material changes detected. Sign up free to read the summary.

8-K Filed Apr 30, 2026 · Period ending Apr 30, 2026

TFS Financial reports Q2 2026 earnings for period ended March 31, 2026

2 material changes detected. Sign up free to read the summary.

8-K Filed Apr 2, 2026 · Period ending Apr 2, 2026 Red flag

TFS Financial CFO Meredith Weil to retire January 2027; names bank veteran as successor

3 material changes detected. Sign up free to read the summary.

8-K Filed Feb 26, 2026 · Period ending Feb 26, 2026

Summary not yet generated.

10-Q Filed Feb 5, 2026 · Period ending Dec 31, 2025

Summary not yet generated.

10-K Filed Nov 25, 2025 · Period ending Sep 30, 2025

Summary not yet generated.

10-Q Filed Aug 7, 2025 · Period ending Jun 30, 2025

Summary not yet generated.

10-Q Filed May 8, 2025 · Period ending Mar 31, 2025

Summary not yet generated.

10-K Filed Nov 22, 2024 · Period ending Sep 30, 2024

Summary not yet generated.

Latest financial statements

From 10-Q filed Aug 6, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.

As filed

Consolidated Statements of Income (Unaudited)

(In thousands, except share and per share data)

Description Three months ended June 30, 2026 Three months ended June 30, 2025 Nine months ended June 30, 2026 Nine months ended June 30, 2025
INTEREST AND DIVIDEND INCOME:
Loans, including fees 190,048 177,493 558,509 521,151
Investment securities available for sale 4,184 4,816 12,410 14,026
Other interest and dividend earning assets 7,880 9,098 24,434 28,950
Total interest and dividend income 202,112 191,407 595,353 564,127
INTEREST EXPENSE:
Deposits 72,552 76,803 225,547 230,124
Borrowed funds 48,182 39,610 134,942 118,632
Total interest expense 120,734 116,413 360,489 348,756
NET INTEREST INCOME 81,378 74,994 234,864 215,371
PROVISION (RELEASE) FOR CREDIT LOSSES (3,500) 1,500 (4,500) 1,500
NET INTEREST INCOME AFTER PROVISION (RELEASE) FOR CREDIT LOSSES 84,878 73,494 239,364 213,871
NON-INTEREST INCOME:
Fees and service charges, net of amortization 2,753 2,467 7,763 6,912
Net gain on the sale of loans 826 726 4,899 3,028
Increase in and death benefits from bank owned life insurance contracts 3,394 2,733 8,876 8,095
Other 923 1,122 1,843 2,584
Total non-interest income 7,896 7,048 23,381 20,619
NON-INTEREST EXPENSE:
Salaries and employee benefits 28,449 27,651 89,121 81,923
Marketing services 4,060 5,810 14,325 14,096
Office property, equipment and software 8,368 7,653 24,056 22,114
Federal insurance premium and assessments 3,452 3,519 10,251 10,777
State franchise tax 1,149 1,204 3,362 3,450
Other expenses 8,618 7,348 24,610 19,854
Total non-interest expense 54,096 53,185 165,725 152,214
INCOME BEFORE INCOME TAXES 38,678 27,357 97,020 82,276
INCOME TAX EXPENSE 8,138 5,844 20,959 17,316
NET INCOME 30,540 21,513 76,061 64,960
Earnings per share—basic and diluted 0.11 0.08 0.27 0.23
Weighted average shares outstanding
Basic 278,850,699 278,832,875 278,820,927 278,699,423
Diluted 280,176,516 279,873,274 279,982,505 279,716,745

Consolidated Statements of Condition (Unaudited)

(In thousands, except share data)

Description June 30, 2026 September 30, 2025
ASSETS
Cash and due from banks 28,623 24,176
Other interest-earning cash equivalents 540,311 405,263
Cash and cash equivalents 568,934 429,439
Investment securities available for sale (amortized cost $505,645 and $542,197, respectively) 482,431 520,659
Mortgage loans held for sale ($14,478 and $22,861 measured at fair value, respectively) 14,478 57,662
Loans held for investment, net:
Mortgage loans 16,175,429 15,659,460
Other loans 7,423 8,153
Deferred loan expenses, net 72,241 69,943
Allowance for credit loss on loans (73,516) (74,244)
Loans, net 16,181,577 15,663,312
Mortgage loan servicing rights, net 8,861 8,549
Federal Home Loan Bank stock, at cost 268,101 235,363
Real estate owned, net 1,339 1,921
Premises, equipment, and software, net 45,646 40,022
Accrued interest receivable 63,689 62,553
Bank owned life insurance contracts 329,784 325,149
Other assets 110,168 111,687
TOTAL ASSETS 18,075,008 17,456,316
LIABILITIES AND SHAREHOLDERS’ EQUITY
Deposits 9,992,423 10,446,968
Borrowed funds 5,810,914 4,870,219
Borrowers’ advances for insurance and taxes 159,734 113,168
Principal, interest, and related escrow owed on loans serviced 44,683 30,328
Accrued expenses and other liabilities 109,843 101,709
Total liabilities 16,117,597 15,562,392
Commitments and contingent liabilities
Preferred stock, $0.01 par value, 100,000,000 shares authorized, none issued and outstanding — —
Common stock, $0.01 par value, 700,000,000 shares authorized; 332,318,750 shares issued; 280,440,995 and 280,590,497 outstanding at June 30, 2026 and September 30, 2025, respectively 3,323 3,323
Paid-in capital 1,761,637 1,757,813
Treasury stock, at cost; 51,877,755 and 51,728,253 shares at June 30, 2026 and September 30, 2025, respectively (778,588) (774,340)
Unallocated ESOP shares (15,167) (18,417)
Retained earnings—substantially restricted 977,589 946,776
Accumulated other comprehensive income (loss) 8,617 (21,231)
Total shareholders’ equity 1,957,411 1,893,924
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 18,075,008 17,456,316

Consolidated Statements of Cash Flows (Unaudited)

(In thousands)

Description Nine months ended June 30, 2026 Nine months ended June 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income 76,061 64,960
Adjustments to reconcile net income to net cash provided by operating activities:
ESOP and stock-based compensation expense 9,056 7,037
Depreciation and amortization 18,854 16,810
Deferred income taxes (54) 28
Provision (release) for credit losses (4,500) 1,500
Net gain on the sale of loans (4,899) (3,028)
Other net losses (gains) 251 (19)
Proceeds from sales of loans originated as held for sale 41,000 63,257
Loan originations, acquisitions and principal repayments on loans held for sale (29,107) (57,322)
Increase in bank owned life insurance contracts (7,776) (8,109)
Net (increase) decrease in interest receivable and other assets (2,166) 7,230
Net increase in accrued expenses and other liabilities 12,180 1,178
Net cash provided by operating activities 108,900 93,522
CASH FLOWS FROM INVESTING ACTIVITIES:
Loans originated (3,213,720) (2,712,340)
Principal repayments on loans 2,511,190 2,278,497
Proceeds from sales, principal repayments and maturities of:
Securities available for sale 150,369 145,230
Proceeds from sale of:
Loans 207,844 130,628
Real estate owned 459 193
FHLB stock 20,210 19,742
Purchases of:
FHLB stock (52,948) (23,786)
Securities available for sale (114,661) (141,707)
Premises and equipment (9,382) (9,310)
Other 2,796 2,487
Net cash used in investing activities (497,843) (310,366)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net (decrease) increase in deposits (459,014) 154,792
Net increase in borrowers' advances for insurance and taxes 46,566 4,262
Net increase in principal and interest owed on loans serviced 14,355 1,484
Net increase in short-term borrowed funds 1,146,000 420,000
Net increase in Fed Funds purchased 150,000 —
Proceeds from long-term borrowed funds 50,000 100,000
Repayment of long-term borrowed funds (401,275) (426,520)
Cash collateral/settlements received from (provided to) derivative counterparties 33,015 (2,131)
Acquisition or net settlement of treasury shares (6,263) (1,511)
Dividends paid to common shareholders (44,946) (44,669)
Net cash provided by financing activities 528,438 205,707
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 139,495 (11,137)
CASH AND CASH EQUIVALENTS—Beginning of period 429,439 463,718
CASH AND CASH EQUIVALENTS—End of period 568,934 452,581
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest on deposits 221,484 244,322
Cash paid for interest on borrowed funds 150,592 151,272
Cash paid (received) for interest on interest rate swaps (15,192) (44,330)
Cash paid for income taxes 13,014 11,780
SUPPLEMENTAL SCHEDULES OF NONCASH INVESTING AND FINANCING ACTIVITIES:
Transfer of loans to real estate owned 253 1,240
Transfer of loans from held for investment to held for sale 188,145 148,789
Transfer of loans from held for sale to held for investment 14,748 1,327
Treasury stock issued for stock benefit plans 2,041 1,845

Amounts as printed on the EDGAR/iXBRL face — (In thousands, except share and per share data); (In thousands, except share data); (In thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗

View AI report for this filing

About TFS Financial CORP

Source: Item 1 (Business) from the 10-K filed November 25, 2025. Description as filed by the company with the SEC.

Item 1.Business

Forward Looking Statements

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. These forward-looking statements include, among other things:

●statements of our goals, intentions and expectations;

●statements regarding our business plans and prospects and growth and operating strategies;

●
statements concerning trends in our provision for credit losses and charge-offs on loans and off-balance sheet exposures;

●statements regarding the trends in factors affecting our financial condition and results of operations, including credit quality of our loan and investment portfolios; and

●estimates of our risks and future costs and benefits.

These forward-looking statements are subject to significant risks, assumptions and uncertainties, including, among other things, the following important factors that could affect the actual outcome of future events:

●
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;

Read full description ↓

●
the strength or weakness of the real estate markets and of the consumer and commercial credit sectors and its impact on the credit quality of our loans and other assets, and changes in estimates of the allowance for credit losses;

●
decreased demand for our products and services and lower revenue and earnings because of a recession or other events;

●
changes in consumer spending, borrowing and savings habits, including repayment speeds on loans;

●
adverse changes and volatility in the securities markets, credit markets or real estate markets;

●our ability to manage market risk, credit risk, liquidity risk, reputational risk, regulatory risk and compliance risk;

●our ability to access cost-effective funding;

●legislative or regulatory changes that adversely affect our business, including changes in regulatory costs and capital requirements and changes related to our ability to pay dividends and the ability of Third Federal Savings, MHC to waive dividends;

●
changes in accounting policies and practices, as may be adopted by the bank regulatory agencies, the FASB or the PCAOB;

●
the adoption of implementing regulations by a number of different regulatory bodies, and uncertainty in the exact nature, extent and timing of such regulations and the impact they will have on us;

●
our ability to enter new markets successfully and take advantage of growth opportunities;

●
future adverse developments concerning Fannie Mae or Freddie Mac;

●
changes in monetary and fiscal policy of the U.S. Government, including policies of the U.S. Treasury, the Federal Reserve System, Fannie Mae, the OCC, FDIC, and others, and the effects of tariffs and retaliatory actions;

●
the ability of the U.S. Government to remain open, function properly and manage federal debt limits;

●the continuing governmental efforts to restructure the U.S. financial and regulatory system;

●changes in policy and/or assessment rates of taxing authorities that adversely affect us or our customers;

●
changes in accounting and tax estimates;

●
changes in our organization and changes in expense trends, including but not limited to trends affecting non-performing assets, charge-offs and provisions for credit losses;

●the inability of third-party providers to perform their obligations to us;

●changes in liquidity, including the size and composition of our deposit portfolio, and the percentage of uninsured deposits in the portfolio;

●the effects of global or national war, conflict or acts of terrorism;

●our ability to retain key employees;

●
civil unrest;

●
cyber-attacks, computer viruses and other technological risks that may breach the security of our websites or other systems to obtain unauthorized access to confidential information, destroy data or disable our systems; and

●the impact of a wide-spread pandemic, and related government action, on our business and the economy.

Because of these and other uncertainties, our actual future results may be materially different from the results indicated by any forward-looking statements. Any forward-looking statement made by us in this report speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law. Please see