TFS FINANCIAL CORPORATION TFSL Income Statement

Tfs financial corporation (TFSL)

Income statement / 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	Jun'09
INTEREST AND DIVIDEND INCOME:
Loans, including fees
115,203	115,225	116,853	115,129	114,306	112,491	109,132	105,956	105,239	102,626	101,692	99,699	97,676	95,380	94,961	93,752	93,737	93,174	93,179	92,248	92,040	91,835	91,579	90,884	90,545	90,401	90,511	92,399	95,241	98,689	101,354	102,143	102,696	103,207	104,025	103,845	102,394	103,200	99,764	103,902	104,763	107,048	110,863
Investment securities available for sale
2,911	2,864	3,093	3,389	3,494	3,124	2,895	2,891	2,759	2,589	2,468	2,522	2,198	1,853	1,983	2,374	2,562	2,471	2,250	2,218	2,548	2,555	2,482	2,325	2,305	2,100	1,489	1,260	1,079	1,113	1,382	543	33	37	42	43	44	111	133	150	153	113	176
Investment securities held to maturity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	973	1,538	1,734	2,454	2,871	2,793	3,337	4,407	4,674	4,892	5,073	6,374
Other interest and dividend earning assets
1,412	1,963	2,367	2,525	2,643	2,673	2,491	2,271	2,182	2,014	1,817	1,500	1,209	981	928	867	846	786	993	1,206	1,059	1,346	503	547	495	518	545	545	515	586	539	566	551	557	512	527	502	793	1,006	664	580	569	457
Total interest and dividend income
119,526	120,052	122,313	121,043	120,443	118,288	114,518	111,118	110,180	107,229	105,977	103,721	101,083	98,214	97,872	96,993	97,145	96,431	96,422	95,672	95,647	95,736	94,564	93,756	93,345	93,019	92,545	94,204	96,835	100,388	103,275	104,225	104,818	105,535	107,033	107,286	105,733	107,441	105,310	109,390	110,388	112,803	117,870
INTEREST EXPENSE:
Deposits
37,483	38,316	38,355	37,159	35,077	32,762	29,321	26,310	23,630	22,994	22,213	21,831	21,320	22,057	22,667	22,543	22,351	22,439	22,627	23,001	23,422	24,476	24,744	23,210	21,962	23,262	25,194	27,049	28,030	31,135	36,300	37,704	38,390	40,706	42,455	43,723	44,386	47,278	49,683	51,446	52,320	55,013	59,032
Borrowed funds
17,005	17,551	19,628	18,366	17,605	17,714	16,215	14,535	14,852	14,247	13,656	11,618	9,477	7,927	7,579	7,061	7,035	6,351	5,815	5,082	4,803	4,124	3,088	2,674	2,349	1,962	1,272	1,027	875	837	672	657	643	574	562	518	446	477	484	480	474	485	485
Total interest expense
54,488	55,867	57,983	55,525	52,682	50,476	45,536	40,845	38,482	37,241	35,869	33,449	30,797	29,984	30,246	29,604	29,386	28,790	28,442	28,083	28,225	28,600	27,832	25,884	24,311	25,224	26,466	28,076	28,905	31,972	36,972	38,361	39,033	41,280	43,017	44,241	44,832	47,755	50,167	51,926	52,794	55,498	59,517
NET INTEREST INCOME
65,038	64,185	64,330	65,518	67,761	67,812	68,982	70,273	71,698	69,988	70,108	70,272	70,286	68,230	67,626	67,389	67,759	67,641	67,980	67,589	67,422	67,136	66,732	67,872	69,034	67,795	66,079	66,128	67,930	68,416	66,303	65,864	65,785	64,255	64,016	63,045	60,901	59,686	55,143	57,464	57,594	57,305	58,353
Provision for Loan and Lease 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	20,000
NET INTEREST INCOME AFTER PROVISION (CREDIT) FOR LOAN LOSSES
59,038	67,185	66,330	67,518	71,761	69,812	70,982	72,273	75,698	72,988	77,108	74,272	76,286	68,230	70,626	70,389	68,759	68,641	73,980	67,589	66,422	65,136	62,732	63,872	64,034	61,795	62,079	61,128	57,930	50,416	37,303	34,864	38,785	49,255	45,016	40,545	38,401	25,186	20,143	27,464	32,594	41,305	38,353
NON-INTEREST INCOME:
Mortgage servicing assets recovery
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-118	73	-3,972
Gain (Loss) on Sales of Loans, Net
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	-	-	-	-	-162	19,716	2,708	3,041	9,413
Increase in and death benefits from bank owned life insurance contracts
2,461	1,561	1,571	1,703	1,874	1,547	1,557	1,538	1,509	1,554	1,583	1,703	1,559	1,604	1,613	1,612	1,841	2,343	2,232	1,592	1,599	1,901	1,633	1,610	1,583	1,613	1,671	1,611	1,577	1,605	1,655	1,607	1,610	1,612	1,681	1,621	1,579	1,640	1,671	1,623	1,589	1,608	1,646
Income on private equity investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	763	-	-	123	200	231	115	542
Other
1,229	5,298	1,490	1,064	786	1,242	1,101	1,106	1,243	1,052	1,098	1,128	990	1,105	927	933	1,119	980	998	1,078	1,173	1,196	1,231	1,071	1,025	837	1,279	1,094	1,126	1,317	1,273	1,744	1,517	1,284	1,659	1,868	2,270	2,559	1,274	1,363	1,441	1,472	1,721
Total non-interest income
8,947	11,930	5,799	5,083	4,906	4,676	4,885	7,191	4,616	4,844	5,125	4,804	4,552	5,368	6,024	6,108	6,703	6,117	6,286	6,126	5,895	5,953	5,578	5,710	5,534	5,078	5,291	8,824	6,106	8,247	6,032	6,311	6,411	5,709	7,137	8,759	8,267	6,819	6,828	28,528	11,649	11,633	21,527
NON-INTEREST EXPENSE:
Salaries and employee benefits
27,216	25,885	26,326	26,149	26,152	25,364	24,807	27,199	26,057	23,253	23,452	23,470	23,945	23,755	22,505	23,055	25,054	24,948	24,692	23,077	24,304	23,565	22,953	21,973	23,325	22,082	22,115	21,929	21,824	20,603	20,304	18,375	21,049	20,385	19,020	19,694	19,815	17,485	20,036	22,223	20,485	21,171	20,330
Marketing services
4,029	4,461	1,785	6,063	6,719	4,797	2,914	5,284	6,016	5,038	5,204	5,183	4,791	4,535	3,805	4,499	4,331	4,321	2,519	7,200	5,685	4,500	4,151	3,492	3,360	3,253	3,512	3,219	3,127	3,125	2,669	2,376	2,377	2,377	1,439	2,102	2,103	2,101	1,072	920	2,026	2,025	900
Office property, equipment and software
6,534	6,446	6,379	6,806	6,261	6,986	6,383	7,135	6,728	6,651	6,562	5,985	6,111	5,873	6,236	5,924	5,939	5,763	5,532	5,465	5,658	5,393	5,180	5,242	5,283	4,989	5,691	5,004	5,293	5,021	5,026	5,392	5,073	4,998	5,091	4,986	4,887	5,110	4,718	5,046	5,362	5,253	5,654
Federal insurance premium and assessments
2,768	2,619	2,627	2,669	2,370	2,766	2,663	2,800	3,008	2,718	2,588	2,531	2,664	2,272	2,161	2,393	2,994	2,829	2,780	3,006	2,888	2,461	2,415	2,402	2,547	2,547	3,184	2,878	3,243	3,714	3,515	3,390	3,512	3,877	4,925	2,759	5,847	5,985	6,136	4,239	4,314	4,209	9,771
State franchise tax
1,191	1,132	1,231	1,265	1,282	1,262	1,189	1,176	1,284	1,126	1,246	1,318	1,317	1,354	1,327	1,240	1,444	1,448	1,514	1,449	1,548	1,403	1,587	1,498	1,731	1,687	1,651	1,564	1,749	1,663	1,662	1,672	1,716	989	979	1,459	1,428	939	893	1,329	1,338	1,042	1,211
Real estate owned expense, net
-	-	-	-	-	-	-	-	-	-	-	376	829	1,051	72	1,826	1,713	2,161	2,717	1,653	2,635	2,700	2,369	2,015	3,008	1,945	1,956	2,087	1,516	1,165	6,429	2,424	1,672	-2,335	13,967	-1,994	-1,987	-1,925	-1,297	-1,380	-927	-1,735	-1,582
Appraisal and other loan review expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	322	1,163	990	694	1,005	1,576	2,326	-	158	-	-	-
Other expenses
7,820	6,777	6,750	6,916	7,943	6,805	7,464	7,835	6,595	6,990	10,383	5,806	5,637	6,422	5,948	6,039	4,866	6,163	5,617	5,969	6,111	5,951	6,182	6,227	5,677	6,356	5,522	9,585	8,477	7,243	12,057	6,791	6,758	6,528	7,281	5,553	6,332	7,073	6,526	5,386	4,881	4,664	6,374
Total non-interest expense
49,558	47,320	45,098	49,868	50,727	47,980	45,420	51,429	49,688	45,776	47,179	44,669	45,294	45,262	42,054	44,976	46,341	47,633	45,371	47,819	48,829	45,973	44,837	42,849	44,931	42,859	43,631	46,266	45,229	42,534	44,517	40,742	43,320	42,479	41,584	39,552	43,975	42,944	41,820	40,681	39,333	40,099	45,822
INCOME BEFORE INCOME TAXES
18,427	31,795	27,031	22,733	25,940	26,508	30,447	28,035	30,626	32,056	35,054	34,407	35,544	28,336	34,596	31,521	29,121	27,125	34,895	25,896	23,488	25,116	23,473	26,733	24,637	24,014	23,739	23,686	18,807	16,129	-1,182	433	1,876	12,485	10,569	9,752	2,693	-10,939	-14,849	15,311	4,910	12,839	14,058
Income Tax Expense (Benefit)
1,170	6,153	5,514	4,476	5,810	6,175	8,842	7,160	7,312	12,443	12,036	11,619	12,083	8,726	11,790	10,901	9,845	9,274	11,872	8,638	7,822	8,472	7,622	9,102	8,252	7,990	7,970	7,439	6,017	4,976	-2,288	-459	854	4,026	2,090	3,767	469	-3,591	-4,102	5,074	1,988	3,913	4,022
Net Income (Loss) Attributable to Parent
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	10,036
Earnings per share—basic and diluted
0.06	0.09	-	0.06	0.07	0.07	-	0.07	0.08	0.07	-	0.08	0.08	0.07	-	0.07	0.07	0.06	0.08	0.06	0.05	0.06	0.06	0.06	0.05	0.05	0.05	0.05	0.04	0.04	0.01	0.00	0.00	0.03	0.02	0.02	0.01	-0.02	-0.03	0.03	0.01	0.03	0.03
Weighted average shares outstanding
Weighted Average Number of Shares Outstanding, Basic
275,835	275,578	275,462	275,384	275,359	275,376	275,419	275,468	275,656	275,816	276,083	277,056	277,787	277,925	279,302	280,815	282,314	283,834	286,015	288,553	291,377	293,797	296,318	298,681	300,261	300,634	302,086	301,913	301,753	301,576	301,434	301,274	301,153	301,044	300,728	300,347	300,215	300,140	300,004	299,826	299,693	299,658	300,245
Weighted Average Number of Shares Outstanding, Diluted
278,101	277,888	277,682	277,398	277,343	277,073	277,112	277,200	277,256	277,624	277,904	278,986	279,911	280,272	281,304	283,011	284,486	286,340	288,610	290,759	293,342	296,128	298,295	300,533	301,529	301,868	303,164	302,926	302,651	302,244	302,021	301,936	301,706	301,416	301,633	301,147	300,957	300,140	300,004	300,557	300,299	300,150	300,638
Banking
Fees and service charges, net of amortization
2,119	2,146	1,974	1,773	1,795	1,776	1,916	2,018	1,799	1,760	1,733	1,714	1,673	1,776	1,899	1,729	1,826	1,969	1,874	1,961	1,979	2,158	2,228	2,356	2,393	2,289	2,331	2,141	2,146	2,303	2,416	2,960	3,284	2,813	4,070	4,507	4,418	2,620	3,967	5,626	5,562	5,470	4,233