TFS Financial Corporation announced net income of $21.0 million for the quarter ended March 31, 2025. For the six months ended March 31, 2025, net income increased by $2.0 million, or 5%, to $43.4 million compared to $41.4 million in the prior year period. This year-to-date improvement was mainly due to an increase in non-interest income and a decrease in non-interest expense.
Net interest income for the second quarter increased by $3.7 million, or 5.4%, to $72.0 million, driven by a 14 basis point decrease in the weighted average cost of interest-bearing liabilities. The net interest margin improved by nine basis points to 1.75% during the quarter. The company recorded a $1.5 million provision for credit losses for the quarter, a change from a release in the prior quarter, with the total allowance for credit losses increasing to $99.9 million.
Total assets increased by $54.1 million to $17.11 billion at March 31, 2025, with loans held for investment increasing by $17.2 million. Deposits grew by $190.4 million, or 2%, to $10.40 billion, primarily from retail certificates of deposit. The company's capital ratios remained strong, with a Tier 1 leverage ratio of 10.92% and Common Equity Tier 1 ratio of 18.18%, both exceeding regulatory 'well capitalized' thresholds.
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