TFS Financial reports Q3 EPS 7c vs. 6c last year

Reports Q3 NII $69.3M vs. $68.8M last year. Reports Q3 net interest margin 1.67% vs. 1.71% in Q2. “Despite higher interest rates and economic uncertainty, our earnings are more than 10% higher this year than last year,” said CEO Marc A. Stefanski. “Retail deposit growth of 6% in the last three months is a result of our strong CD product offerings. Our $2.2 billion in loan originations have an average yield of 7.31%, and our ongoing expense management resulted in a 5% reduction from 2023. All of our capital ratios continue to exceed the amounts required to be well capitalized, including a Tier I capital ratio of nearly 11%, further showing that we are strong, stable, and safe.”