TFS Financial Corporation (TFSL) SEC Filings & Earnings Calls

Geographic concentration in Ohio and Florida

“At June 30, 2026, the percentage of aggregate Residential Core, Residential Home Today and Construction loans secured by properties in Ohio was 59% at both dates, and the percentage of those loans secured by properties in Florida was 16% and 17%, respectively.”

Interest rate sensitivity on ARM portfolio

“The adjustable-rate feature may impact a borrower's ability to afford the higher payments upon rate reset during periods of rising interest rates.” · word for word

Deposit outflows due to competitive pricing

“Deposits decreased $195.0 million, or 1.9%, to $9.99 billion” · word for word

Loan delinquency increase

“Total loan delinquencies increased $5.1 million to $43.5 million”

Potential reduction in dividend income for MHC members if waiver approved.

“Proposal to waive MHC's right to receive quarterly dividends totaling up to $1.27 per share.”

Deposit concentration risk

“Net (decrease) increase in deposits $ (264,724) for six months ended March 31, 2026.”

Geographic concentration risk

“A large concentration of the Company’s lending is in Ohio and Florida.” · word for word

Interest rate risk

“The unrealized losses on investment securities are primarily attributable to increases in market interest rates since the dates of acquisition.” · word for word

Deposit cost management risk

“savings accounts experienced increases in both average balances ($461.4 million) and cost (56 basis points)” · word for word

Loan delinquency increase

“Total loan delinquencies increased $1.5 million to $38.4 million, or 0.24% of total loans receivable” · word for word

CFO transition risk; potential disruption during handover period.

“CFO retirement and succession plan with a 6-month overlap period.”

MHC waiver of dividends reduces cash outflow but concentrates control; any change in waiver policy could impact liquidity.

“MHC waived dividends on 81% of shares; waiver approved through July 8, 2026.”

Interest rate risk from securities portfolio

“The unrealized losses on investment securities are primarily attributable to increases in market interest rates since the dates of acquisition.” · word for word

Concentration risk in Ohio and Florida real estate

“A large concentration of the Company’s lending is in Ohio and Florida.” · word for word

Non-interest expense increased 17.31% YoY, driven by one-time bonus and higher marketing costs, pressuring operating leverage.

“Total non-interest expense increased $8.3 million, or 17.31%, to $56.2 million” · word for word

Net interest income declined sequentially due to rate cuts, indicating sensitivity to Fed policy.

“Net interest income decreased $1.6 million, or 2.07%, to $75.7 million for the quarter ended December 31, 2025 when compared to the quarter ended September 30, 2025.” · word for word

Interest rate risk from asset-liability mismatch

“In general, our assets, consisting primarily of mortgage loans, have longer maturities than our liabilities, consisting primarily of deposits. As a result, a principal part of our business strategy is to manage interest rate risk and limit the exposure of our net interest income to changes in market interest rates.” · word for word

Constrained mortgage market due to high interest rates

“The decrease in residential mortgage loans was due to a relatively high interest rate environment, resulting in a constrained purchase mortgage market and minimal refinance activity.” · word for word

Concentrated ownership and control by TFS, MHC

“TFS, MHC, which, as of December 29, 2025, owned 227,119,132 shares, or 80.9%, of our outstanding common stock. As such, the vote of TFS, MHC will be determinative of the outcome of any vote or election.” · word for word

Credit risk from home equity portfolio growth

“The increased provision was mainly due to growth in the home equity portfolios.” · word for word

Interest rate risk from deposit mix shift

“Certificates of deposit 80.1% of average deposits in FY2025 vs 75.7% in FY2024.”

Concentration in Ohio real estate

“The majority of our Residential Core and Home Today loan portfolios is secured by properties located in Ohio.” · word for word

MHC waiver of dividends on 81% of shares reduces cash outflow but signals mutual ownership structure; no material risk.

“the MHC, the mutual holding company of the Company and owner of 227,119,132 shares, or 81% of the Company’s common stock outstanding, has waived its right to receive the dividend on its shares.” · word for word

Credit risk from home equity portfolio growth

“Allowance for credit losses increased primarily due to growth in home equity loan and lines of credit portfolios”

Slight increase in loan delinquencies

“Total loan delinquencies increased $2.8 million to $34.7 million, or 0.22% of total loans receivable” · word for word