TFS FINANCIAL CORPORATION TFSL Cash Flow

Tfs financial corporation (TFSL)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income
17,257	25,642	21,517	18,257	20,130	20,333	21,605	20,875	23,314	19,613	23,018	22,788	23,461	19,610	22,806	20,620	19,276	17,851	23,023	17,258	15,666	16,644	15,851	17,631	16,385	16,024	15,769	16,247	12,790	11,153	1,106	892	1,022	8,459	8,479	5,985	2,224	-7,348	-10,747	10,237	2,922	8,926
Adjustments to reconcile net income to net cash provided by operating activities:
ESOP and stock-based compensation expense
3,293	3,283	3,111	2,965	2,958	2,746	2,780	2,778	3,270	2,528	2,629	2,708	2,844	3,071	2,957	3,141	3,643	3,695	3,542	3,430	3,306	3,702	2,730	3,092	3,488	2,847	2,909	3,112	2,674	2,661	2,597	2,757	2,793	2,968	2,494	2,879	2,915	1,850	3,209	3,621	3,245	3,066
Excess tax effect related to stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
6,694	7,794	6,177	6,155	5,212	5,406	5,670	6,856	7,267	5,394	4,343	5,449	5,306	5,787	5,361	5,163	4,623	4,222	4,919	4,660	4,009	3,865	4,157	3,152	2,847	3,129	3,997	5,121	5,976	6,221	8,370	5,098	3,252	6,047	4,024	3,255	4,346	7,779	6,902	3,907	3,664	3,992
Mortgage servicing asset impairment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	73
Deferred income taxes
-118	-64	21,422	76	4	434	-616	-39	-181	4,785	3,665	-107	-23	13	11,061	18	10	10	9,573	-388	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-8,643	-400	0	800	-10,542	0	0	0
Provision (credit) for loan losses
6,000	-3,000	-2,000	-2,000	-4,000	-2,000	-2,000	-2,000	-4,000	-3,000	-7,000	-4,000	-6,000	0	-3,000	-3,000	-1,000	-1,000	-6,000	0	1,000	2,000	4,000	4,000	5,000	6,000	4,000	5,000	10,000	18,000	29,000	31,000	27,000	15,000	19,000	22,500	22,500	34,500	35,000	30,000	25,000	16,000
Net gain on the sale of loans
3,138	2,925	764	543	451	111	311	2,529	65	478	711	259	330	883	1,585	1,834	1,917	825	1,182	1,495	1,144	698	486	673	533	339	10	3,978	1,257	3,022	688	0	0	0	-	-	-	-	-207	19,761	2,708	3,041
Net gain on sale of commercial property
0	4,257	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other net losses
500	13	76	-300	-185	293	-716	-2	-340	-69	-309	172	-201	-224	616	-455	-188	-586	-1,006	-338	-728	-890	-735	-168	-947	-679	144	2,599	-2,402	415	-307	51	-1,356	-415	-136	-1,486	-857	-940	-520	5,462	-10,976	3,718
Proceeds from sales of loans held for sale
17,639	9,753	18,731	16,270	6,448	7,068	9,888	7,778	4,265	3,654	5,681	8,667	10,019	4,805	4,121	4,524	4,160	3,480	6,738	9,994	7,241	3,842	3,822	7,140	6,491	10,022	14,374	23,052	14,547	22,197	13,819	12,766	0	0	-	-	-	-	91,591	38,226	64,047	49,263
Loans originated for sale
9,971	15,606	19,442	17,649	6,614	7,287	8,932	9,148	3,361	4,523	5,116	5,208	6,185	8,438	8,348	3,471	4,974	3,673	6,370	9,104	6,789	4,748	4,925	9,502	6,337	7,143	14,226	19,730	15,832	15,757	9,640	0	0	0	-	-	-	-	4,811	84,382	31,757	86,538
Increase in bank owned life insurance contracts
-	1,577	-	-	-	1,551	1,548	1,538	1,509	1,543	1,589	1,565	1,559	1,607	1,611	1,599	1,601	43	1,666	1,598	1,599	1,628	1,632	1,615	1,583	1,619	1,666	7,993	-1,578	-1,613	11,302	-1,614	-1,590	-1,618	-1,673	-1,620	-1,586	-1,640	-1,671	-1,623	-1,589	-1,606
Net (increase) decrease in interest receivable and other assets
2,043	5,705	10,100	330	8,869	-6,097	2,038	5,472	3,394	-4,092	682	1,392	5,611	-6,302	1,038	8,710	5,638	-2,299	683	964	2,705	-2,179	1,623	231	2,489	-1,951	-834	-10,807	2,731	-7,998	-19,497	331	13,797	-4,811	-12,740	-6,114	1,047	-925	-5,809	-7,857	5,423	45,699
Net increase in accrued expenses and other liabilities
-416	16,066	-6,633	7,527	-4,756	3,582	-1,170	-3,330	-53,276	50,577	1,310	2,025	-55,200	50,570	-250	-385	-46,232	42,739	-6,957	5,540	-42,987	45,418	-13,752	1,132	-43,770	48,853	-8,687	15,155	-52,958	44,751	6,308	-2,723	-53,671	55,006	-57,754	57,318	-56,217	47,349	2,640	4,612	-50,363	50,146
Other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	93	107	67	-12	-9	124	63	118	-10	-131	57	188	38	191	129	33	74	141	82	334	159	234	-132	560	-122	2,091	587	-176
Net cash provided by operating activities
33,146	29,391	30,370	29,480	8,727	34,424	24,044	14,233	-44,180	98,018	19,814	17,133	-32,935	97,156	29,951	15,029	-29,395	69,329	25,934	27,795	-23,211	71,584	18,250	24,163	-19,497	80,592	24,238	50,203	-25,838	92,207	50,322	47,135	-33,253	91,422	-21,268	105,202	-34,081	85,715	117,985	-10,677	11,092	-1,876
CASH FLOWS FROM INVESTING ACTIVITIES:
Loans originated
913,485	1,055,571	862,029	980,557	538,202	647,400	865,158	969,277	723,686	780,652	790,692	818,953	946,949	866,302	1,005,488	820,091	649,952	548,729	819,701	740,718	588,650	611,208	651,406	617,685	620,675	535,266	722,418	718,089	507,528	511,600	628,766	822,000	656,634	821,282	491,526	358,752	471,828	1,162,813	938,867	688,175	591,762	527,250
Principal repayments on loans
699,840	583,081	679,208	824,974	541,235	583,980	647,661	683,162	574,070	603,929	616,570	654,764	605,330	618,202	691,293	619,408	493,871	505,786	600,049	559,989	446,089	446,149	503,796	443,220	398,420	437,672	582,760	600,071	580,420	606,535	593,804	534,044	518,523	539,416	416,331	349,822	395,994	625,397	483,190	564,342	487,422	351,264
Proceeds from principal repayments and maturities of:
Securities available for sale
49,522	52,574	50,693	39,308	30,561	31,998	37,003	35,255	32,136	35,452	36,444	34,413	36,232	46,226	43,661	39,036	33,998	37,825	40,962	43,130	36,174	33,679	68,057	29,385	29,932	30,015	44,724	50,040	53,706	57,918	55,094	18,140	838	517	796	645	1,077	8,380	1,231	3,227	901	3,498
Securities held to maturity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	35,258	48,752	55,523	48,495	46,711	73,577	94,393	79,052	84,326	88,218	58,257
Proceeds from sale of:
Loans
99,119	200,923	13,910	10,391	31,926	13,393	16,147	296,249	33,833	26,268	22,402	65,580	62,709	67,467	45,851	54,275	62,008	24,571	50,427	37,303	25,341	20,385	13,933	9,893	13,659	11,079	-132	92,819	128,303	61,231	0	0	0	0	-	-	-	-	-4,588	507,378	167,085	122,636
Real estate owned
530	635	758	839	977	1,423	780	980	1,973	2,547	2,104	1,935	2,346	2,376	5,502	4,972	5,899	6,027	6,094	7,133	6,216	5,691	7,054	5,976	5,715	6,993	6,701	5,548	7,049	6,519	5,781	6,573	5,716	4,661	4,405	4,319	3,136	3,746	3,198	4,212	4,672	5,339
Premises, Equipment and Other Assets
0	23,512	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of:
FHLB stock
34,000	0	2,211	6,103	0	0	0	0	1,433	2,121	2,880	4,233	7,068	5,956	0	383	0	0	0	0	5,384	23,675	0	6	3,506	1,279	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Securities available for sale
30,585	56,377	36,260	25,428	37,272	59,052	30,487	34,929	43,398	42,786	46,246	25,188	48,612	63,472	35,653	0	8,842	50,681	56,663	31,451	37,158	45,853	114,991	64,549	27,145	44,147	70,454	53,790	61,905	90,305	92,569	41,907	3	9	3	140	107	2,041	2,190	193	5,843	2,105
Securities held to maturity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	5,211	73,875	14,423	0	12,424	0	0	84,508	100,352	87,781	107,431
Premises and equipment
947	537	890	895	1,076	917	1,657	972	1,942	3,802	2,811	676	298	365	1,646	2,336	2,360	2,783	2,134	1,660	568	1,160	310	276	1,160	1,070	1,092	-2,919	3,488	1,158	4,577	1,455	286	1,014	337	682	723	874	1,297	546	1,939	615
Other
-478	-16	-367	-991	312	310	0	0	-11	11	-262	-554	51	-27	-1	-41	-518	-24	-480	-9	0	-295	-1	-6	0	-18	0	104	17	-5	-43	14	10	11	240	493	170	190	-6	0	14	-136
Net cash used in investing activities
-129,528	-251,744	-156,454	-136,480	27,837	-76,885	-195,711	10,468	-128,436	-161,176	-164,847	-91,804	-296,361	-201,797	-256,479	-105,078	-64,860	-27,960	-180,486	-126,265	-117,940	-175,697	-173,866	-194,036	-204,760	-95,985	-159,911	-20,586	196,540	129,145	-71,190	-276,572	-156,979	-236,622	-22,079	54,705	8,979	-434,002	-464,773	374,219	60,959	-96,271
CASH FLOWS FROM FINANCING ACTIVITIES:
Net increase in deposits
86,891	234,536	51,915	-18,321	135,611	105,596	83,295	57,866	143,071	55,726	-24,234	-12,146	-47,984	-95,379	-37,532	51,087	12,451	19,504	-176,201	-38,859	-38,296	-114,664	-49,343	287,731	101,258	-150,267	-166,031	-126,752	-47,213	-176,924	24,270	133,973	164,663	-57,397	14,014	-54,046	-37,372	-58,627	-56,268	204,999	95,793	36,911
Net decrease in borrowers’ advances for insurance and taxes
-6,166	-3,937	45,797	-31,308	-7,612	-6,554	42,509	-27,662	-7,240	-5,048	44,582	-28,868	-1,936	-5,645	44,164	-28,762	-4,510	-4,871	42,119	-27,249	-2,932	-1,912	33,985	-22,948	-3,653	-2,506	23,861	-13,226	-7,553	442	-15,792	22,907	5,732	-3,218	-29,418	20,925	5,302	-3,643	-20,795	12,701	4,761	124
Net decrease in principal and interest owed on loans serviced
-2,781	-1,406	13,729	-10,381	-1,016	-913	8,802	-9,234	-985	-2,859	10,297	-11,090	-9,402	-3,440	14,816	-15,933	5,023	-3,998	4,553	-15,430	10,793	-5,093	13,541	-12,283	-6,566	-15,767	-3,195	-35,949	-14,147	1,497	33,000	-56,331	-35,010	34,021	62,429	-13,320	-189,702	8,027	176,470	-3,068	-31,886	37,190
Net increase(decrease) in short-term borrowed funds
214,269	-51,093	-84,317	359,421	-58,144	110,031	143,486	13,724	-5,504	165,337	250,438	212,762	348,307	349,175	283,066	225,912	217,078	-29,829	72,279	133,069	15,198	224,284	13,142	-146,916	4,119	124,225	152,104	101,056	-220,966	-84,926	-111,542	148,639	154,605	124,633	-49,991	26	99,993	-3	0	-5	0	5
Proceeds from long-term borrowed funds
100,000	150,000	275,000	0	0	0	0	15,000	0	88	0	0	0	0	0	84	10,206	30,000	200,000	100,000	150,000	150,294	110,000	110,000	100,000	130,000	120,000	60,000	70,000	70,000	30,000	5,000	0	0	-	-	-	-6,000	-	-	-	0
Repayment of long-term borrowed funds
120,967	112,239	121,302	115,893	86,113	97,401	86,548	81,027	36,287	77,947	121,833	36,179	31,485	18,603	7,163	66,479	108,134	4,573	2,732	1,742	2,150	8,512	1,903	15,816	20,009	13,320	2,049	1,913	1,115	5,265	0	3,000	0	0	-	-	-	-	-	-	-	-
Cash collateral received from (provided to) derivative counterparties
-129,338	27,921	-35,990	-50,036	-31,041	-35,319	6,611	6,985	24,430	16,850	1,482	-11,801	142	17,702	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of treasury shares
19	395	1,147	1,803	2,468	3,669	2,745	4,011	5,613	7,372	10,002	19,214	7,143	17,670	33,685	27,664	31,958	35,054	47,865	43,122	41,804	39,755	33,084	42,221	0	26,058	0	0	0	0	-	-	-	-	-	-	-	-	0	0	0	1,810
Excess tax benefit related to stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	503	689	328	1,678	343	144	150	945	57	34	0	0	-	-	-	-	-	-	-	-	36	-19	-16	-1	-24	0	40	41
Acquisition of treasury shares through net settlement of stock benefit plans compensation
221	1,576	443	178	756	161	174	468	118	1,012	-41	121	231	2,193	1,112	1,401	962	4,222	872	543	350	2,346	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid to common shareholders
14,031	13,375	13,363	12,393	12,404	12,305	12,341	8,416	8,464	8,408	8,462	6,338	6,477	6,432	6,603	5,453	5,607	5,751	5,906	4,330	4,543	4,711	4,886	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	0	5,201	5,192	5,168
Net cash provided by financing activities
127,637	228,436	129,879	119,108	-63,943	59,305	182,895	-37,243	120,140	118,505	148,352	98,806	243,649	199,813	256,454	132,080	93,915	-37,116	85,718	101,938	86,066	198,530	81,509	157,581	175,149	46,307	124,690	-16,784	-220,110	-196,060	10,778	205,374	278,526	104,475	60,624	-71,329	-128,399	-52,961	140,973	184,024	53,994	67,045
NET INCREASE IN CASH AND CASH EQUIVALENTS
31,255	6,083	3,795	12,108	-27,379	16,844	11,228	-12,542	-52,476	55,347	3,319	24,135	-85,647	95,172	29,926	42,031	-340	4,253	-68,834	3,468	-55,085	94,417	-74,107	-12,292	-49,108	30,914	-10,983	12,833	-49,408	25,292	-10,090	-24,063	88,294	-40,725	17,277	88,578	-153,501	-401,248	-205,815	547,566	126,045	-31,102
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for income taxes
1,628	21	3	39	9,605	42	7,433	10,265	14,540	287	7,253	10,973	19,764	218	6,033	8,205	7,866	9,711	7,150	6,104	9,199	80	11,000	8,100	5,492	508	4,442	2,000	6,600	6,600	4,100	3,894	7,300	4,500	3,100	0	0	4,500	8,000	3,100	3,300	5,500
SUPPLEMENTAL SCHEDULES OF NONCASH INVESTING AND FINANCING ACTIVITIES:
Transfer of loans to real estate owned
474	1,277	548	394	1,236	1,295	824	514	1,607	1,293	2,392	1,696	2,498	1,403	2,412	3,241	3,061	3,420	5,204	6,447	5,303	6,807	8,945	6,825	4,727	6,503	8,906	6,375	7,468	4,992	5,815	7,535	5,547	4,109	3,369	6,384	6,259	5,057	4,921	-1,159	6,113	7,435
Transfer of loans from held for investment to held for sale
97,096	198,694	13,705	10,262	31,720	13,382	16,001	296,288	34,133	26,141	22,180	66,172	63,400	66,968	44,925	53,238	60,819	24,196	39,870	46,845	24,806	15,545	12,693	10,776	13,524	11,095	0	13,982	58,119	264,908	0	0	245,920	0	-	-	-	-	-	-	-	-
Transfer of Loans Held-for-sale to Portfolio Loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	25,027	0	0	0	0
Treasury stock issued for stock benefit plans
928	32	-799	53	322	746	-209	-100	-1	3,050	68	190	128	749	83	607	372	2,050	365	690	5,986	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deposits
Cash paid for interest
37,208	37,729	39,364	36,877	34,754	32,368	28,998	25,721	23,518	22,268	22,205	21,664	21,426	22,078	22,774	22,388	22,405	22,380	22,776	22,537	23,237	24,543	24,674	22,526	21,473	23,470	25,188	27,037	27,809	31,673	36,183	37,734	38,082	41,464	42,355	43,727	44,011	48,359	49,599	52,012	51,794	57,405
Borrowed funds
Cash paid for interest
16,827	19,485	22,275	21,343	21,675	16,450	18,205	15,790	14,334	12,726	11,900	9,570	8,247	6,499	7,029	6,522	6,691	6,179	5,537	5,012	4,606	3,839	2,946	2,589	2,231	1,737	1,168	971	841	763	667	667	643	564	554	491	454	473	484	485	474	480