TFS Financial's Q4 net income falls from prior quarter
TFSL•TFS Financial's fiscal fourth-quarter net income fell from the prior quarter to $24.66 million, while full-year net income rose 11% to a record $100.7 million. The quarterly decline reflected higher credit loss provisions and non-interest expense.
1. Quarterly results
TFS Financial reported fourth-quarter net income of $24.66 million, earnings per share of $0.09 and net interest income of $86.91 million. Net interest income rose with higher loan yields, partially offset by increased funding costs; the company attributed higher credit loss provisions to loan portfolio growth and higher non-interest expense to staffing costs, pension termination expense and other operating costs.
2. Pension obligation
The company expects its remaining pension plan obligation to settle in the quarter ending Dec. 31, 2026.
