Loan Originations Continue to Drive TFS Financial Corporation Results
By
Staff
3 mins ago
CLEVELAND–(BUSINESS WIRE)–TFS Financial Corporation (NASDAQ: TFSL) (the “Company”), the holding company for Third Federal Savings and Loan Association of Cleveland (the “Association”), today announced results for the three months and six months ended March 31, 2021.
The Company reported net income of $23.0 million for the quarter ended March 31, 2021 compared to net income of $17.3 million for the quarter ended March 31, 2020. Net income of $48.0 million was reported for the six months ended March 31, 2021 compared to net income of $42.9 million for the six months ended March 31, 2020. The increase in net income for the quarter and six month periods is primarily the result of higher net gain on the sale of loans and releases from the allowance for credit losses, partially offset by a decrease in net interest income and an increased income tax provision. Other changes include a
Retoman en Brasil juicio sobre condenas anuladas a Lula
prensa-latina.cu - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prensa-latina.cu Daily Mail and Mail on Sunday newspapers.
Marybel Villegas truena contra designación de candidatura de Morena en Cancún
razon.com.mx - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from razon.com.mx Daily Mail and Mail on Sunday newspapers.
Third Federal Savings and Loan needs to improve lending in underserved areas, government says
Marc Stefanski, president and CEO, Third Federal Savings and Loan Association of Cleveland.
Third Federal Savings and Loan Association of Cleveland is struggling with making loans in low-income communities, according to Community Reinvestment Act (CRA) examinations by the Office of the Comptroller of the Currency.
Third Federal, whose business is almost exclusively in home mortgages, has been given a CRA rating of needs to improve by the OCC for the second time in its last two examination periods.
The rating comes for an institution that has been lauded for its charitable giving and efforts in underserved communities. In 2018, Third Federal president and CEO Marc Stefanski was recognized at the National Civil Rights Summit for his leadership in Fair Housing in Banking and Commerce.