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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
________________________________
FORM 10-K
________________________________
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended September 30, 2020
or
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For transition period from              to             
Commission File Number 001-33390
___________________________________________ 
TFS FINANCIAL CORPORATION
(Exact Name of Registrant as Specified in its Charter)
 ___________________________________________ 
United States of America 52-2054948
(State or Other Jurisdiction of
Incorporation or Organization)
 (I.R.S. Employer
Identification No.)
7007 Broadway Avenue 
Cleveland,Ohio 44105
(Address of Principal Executive Offices) (Zip Code)
(216) 441-6000
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange in which registered
Common Stock, par value $0.01 per shareTFSLThe NASDAQ Stock Market, LLC

Securities registered pursuant to Section 12(g) of the Act: None
___________________________________________ 
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.    Yes x    No o
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.    Yes  o    No  x
Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  o
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes  x    No o
Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer", "accelerated filer,” "smaller reporting company," and "emerging growth company" Rule 12b-2 of the Exchange Act:
 
Large accelerated filerx
Accelerated filer  o
Non-accelerated filer  o

Smaller reporting company
Emerging growth company
If an emerging company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. Yes  x  No  

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act.)    Yes      No x
The aggregate market value of the voting and non-voting common equity held by non-affiliates of the Registrant, computed by reference to the last sale price on March 31, 2020, as reported by the NASDAQ Global Select Market, was approximately $787.6 million.
At November 20, 2020, there were 280,243,482 shares of the Registrant’s common stock, par value $0.01 per share, outstanding, of which 227,119,132 shares, or 81.04% of the Registrant’s common stock, were held by Third Federal Savings and Loan Association of Cleveland, MHC, the Registrant’s mutual holding company.

DOCUMENTS INCORPORATED BY REFERENCE
Portions of the registrant’s Proxy Statement for the 2021 Annual Meeting of Shareholders are incorporated by reference in Part III hereof to the extent indicated therein.



TFS Financial Corporation
INDEX
 
Part I
Item 1.
Item 1A.
Item 1B.
Item 2.
Item 3.
Item 4.
Part II
Item 5.
Item 6.
Item 7.
Item 7A.
Item 8.
Item 9.
Item 9A.
Item 9B.
Part III
Item 10.
Item 11.
Item 12.
Item 13.
Item 14.
Part IV
Item 15.
Item 16.

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GLOSSARY OF TERMS
TFS Financial Corporation provides the following list of acronyms and other terms as a tool for the reader. The acronyms and other terms identified below are used throughout the document.
ACT: Tax Cuts and Jobs Act
Freddie Mac: Federal Home Loan Mortgage Association
AOCI: Accumulated Other Comprehensive Income
FRS: Board of Governors of the Federal Reserve System
ARM: Adjustable-Rate Mortgage
GAAP: Generally Accepted Accounting Principles
ASC: Accounting Standards Codification
Ginnie Mae: Government National Mortgage Association
ASU: Accounting Standards Update
GVA: General Valuation Allowance
Association: Third Federal Savings and Loan
HARP: Home Affordable Refinance Program
Association of Cleveland
HPI: Home Price Index
BOLI: Bank Owned Life Insurance
IRR: Interest Rate Risk
CDs: Certificates of Deposit
IRS: Internal Revenue Service
CECL: Current Expected Credit Losses
IVA: Individual Valuation Allowance
CFPB: Consumer Financial Protection Bureau
LIHTC: Low Income Housing Tax Credit
CLTV: Combined Loan-to-Value
LIP: Loans-in-Process
Company: TFS Financial Corporation and its
LTV: Loan-to-Value
subsidiaries
MMK: Money Market Account
DFA: Dodd-Frank Wall Street Reform and Consumer
MGIC: Mortgage Guaranty Insurance Corporation
Protection Act of 2010
OCC: Office of the Comptroller of the Currency
EaR: Earnings at Risk
OCI: Other Comprehensive Income
EPS:  Earnings per Share
OTS: Office of Thrift Supervision
ESOP: Third Federal Employee (Associate) Stock
PMI: Private Mortgage Insurance
Ownership Plan
PMIC: PMI Mortgage Insurance Co.
EVE: Economic Value of Equity
QTL: Qualified Thrift Lender
Fannie Mae: Federal National Mortgage Association
REMICs: Real Estate Mortgage Investment Conduits
FASB: Financial Accounting Standards Board
SEC: United States Securities and Exchange
FDIC: Federal Deposit Insurance Corporation
Commission
FHFA: Federal Housing Finance Agency
TDR: Troubled Debt Restructuring
FHLB: Federal Home Loan Bank
Third Federal Savings, MHC: Third Federal Savings
FICO: Financing Corporation
and Loan Association of Cleveland, MHC
FRB-Cleveland: Federal Reserve Bank of Cleveland

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PART I
Item 1.Business
Forward Looking Statements
     This report contains forward-looking statements, which can be identified by the use of such words as estimate, project, believe, intend, anticipate, plan, seek, expect and similar expressions. These forward-looking statements include, among other things:
statements of our goals, intentions and expectations;
statements regarding our business plans and prospects and growth and operating strategies;
statements concerning trends in our provision for loan losses and charge-offs;
statements regarding the trends in factors affecting our financial condition and results of operations, including asset quality of our loan and investment portfolios; and
estimates of our risks and future costs and benefits.
     These forward-looking statements are subject to significant risks, assumptions and uncertainties, including, among other things, the following important factors that could affect the actual outcome of future events:
significantly increased competition among depository and other financial institutions;
inflation and changes in the interest rate environment that reduce our interest margins or reduce the fair value of financial instruments;
general economic conditions, either globally, nationally or in our market areas, including employment prospects, real estate values and conditions that are worse than expected;
the strength or weakness of the real estate markets and of the consumer and commercial credit sectors and its impact on the credit quality of our loans and other assets, and changes in estimates of the allowance for loan losses;
decreased demand for our products and services and lower revenue and earnings because of a recession or other events;
changes in consumer spending, borrowing and savings habits;
adverse changes and volatility in the securities markets, credit markets or real estate markets;
our ability to manage market risk, credit risk, liquidity risk, reputational risk, and regulatory and compliance risk;
our ability to access cost-effective funding;
legislative or regulatory changes that adversely affect our business, including changes in regulatory costs and capital requirements and changes related to our ability to pay dividends and the ability of Third Federal Savings, MHC to waive dividends;
changes in accounting policies and practices, as may be adopted by the bank regulatory agencies, the Financial Accounting Standards Board or the Public Company Accounting Oversight Board;
the adoption of implementing regulations by a number of different regulatory bodies, and uncertainty in the exact nature, extent and timing of such regulations and the impact they will have on us;
our ability to enter new markets successfully and take advantage of growth opportunities, and the possible short-term dilutive effect of potential acquisitions or de novo branches, if any;
our ability to retain key employees;
future adverse developments concerning Fannie Mae or Freddie Mac;
changes in monetary and fiscal policy of the U.S. Government, including policies of the U.S. Treasury and the FRS and changes in the level of government support of housing finance;
the continuing governmental efforts to restructure the U.S. financial and regulatory system;
the ability of the U.S. Government to remain open, function properly and manage federal debt limits;
changes in policy and/or assessment rates of taxing authorities that adversely affect us or our customers;
changes in accounting and tax estimates;
changes in our organization, or compensation and benefit plans and changes in expense trends (including, but not limited to trends affecting non-performing assets, charge-offs and provisions for loan losses);
the inability of third-party providers to perform their obligations to us;
civic unrest;
cyber-attacks, computer viruses and other technological risks that may breach the security of our websites or other systems to obtain unauthorized access to confidential information, destroy data or disable our systems; and
the impact of wide-spread pandemic, including COVID-19, on our business and the economy.
      Because of these and other uncertainties, our actual future results may be materially different from the results indicated by any forward-looking statements. Any forward-looking statement made by us in this report speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law. Please see Item 1A. Risk Factors for a discussion of certain risks related to our business.
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TFS FINANCIAL CORPORATION
TFS Financial Corporation (“we,” “us,” or “our”) was organized in 1997 as the mid-tier stock holding company for the Association. We completed our initial public stock offering in 2007 and issued 100,199,618 shares of common stock, or 30.16% of our post-offering outstanding common stock, to subscribers in the offering. Additionally, at the time of the public offering, 5,000,000 shares of our common stock, or 1.50% of our outstanding shares, were issued to the newly formed charitable foundation, Third Federal Foundation. Third Federal Savings, MHC, our mutual holding company parent, held and continues to hold, the remainder of our outstanding common stock (227,119,132 shares). Net proceeds from our initial public stock offering were approximately $886 million and reflected the costs we incurred in completing the offering as well as a $106.5 million loan to the ESOP related to its acquisition of shares in the initial public stock offering.
Our ownership of the Association remains our primary business activity.
We also operate Third Capital, Inc. as a wholly-owned subsidiary. See THIRD CAPITAL, INC. below.
As the holding company of the Association, we are authorized to pursue other business activities permitted by applicable laws and regulations for savings and loan holding companies, which include making equity investments and the acquisition of banking and financial services companies.
Our cash flow depends primarily on earnings from the investment of the portion of the net offering proceeds we retained, and any dividends we receive from the Association and Third Capital, Inc. All of our officers are also officers of the Association. In addition, we use the services of the support staff of the Association from time to time. We may hire additional associates, as needed, to the extent we expand our business in the future.
THIRD CAPITAL, INC.
Third Capital, Inc. is a Delaware corporation that was organized in 1998 as our wholly-owned subsidiary. At September 30, 2020, Third Capital, Inc. had consolidated assets of $5.6 million, and for the fiscal year ended September 30, 2020, Third Capital, Inc. had consolidated net income of $5.3 million. Third Capital, Inc. has no separate operations other than as the holding company for its operating subsidiaries, and as a minority investor or partner in other entities. As of September 30, 2020, the only remaining entity which Third Capital, Inc. has an investment in is Third Cap Associates, Inc., an Ohio corporation that owns 49% and 60% of two title agencies that provide escrow and settlement services in the States of Ohio and Florida, primarily to customers of the Association. For the fiscal year ended September 30, 2020, Third Cap Associates, Inc. recorded net income of $1.8 million.
Third Capital Inc. had a partial ownership in Hazelmere Investment Group I, Ltd., a limited liability company that engaged in net lease transactions of commercial buildings. In October 2019, the limited liability company sold the remaining two commercial office buildings it owned and the company was dissolved in the fiscal year ended September 30, 2020. The properties had a net book value of $19.3 million at September 30, 2019 included in premises, equipment and software, net and other assets. Hazelmere Investment Group I, Ltd. recorded net income of $4.6 million during the fiscal year ended September 30, 2020, which included a $4.7 million net gain representing the Company's share of the gain on sale.
THIRD FEDERAL SAVINGS AND LOAN ASSOCIATION OF CLEVELAND
General
The Association is a federally chartered savings and loan association headquartered in Cleveland, Ohio, that was organized in 1938. In 1997 the Association reorganized into its current two-tier mutual holding company structure. The Association’s principal business consists of originating and servicing residential real estate mortgage loans and attracting retail savings deposits.
The Association’s business strategy is to originate mortgage loans with interest rates that are competitive with those of similar products offered by other financial institutions in its markets. Similarly, the Association offers checking accounts, savings accounts and certificate of deposit accounts, each bearing interest rates that are competitive with similar products offered by other financial institutions in its markets. The Association expects to continue to pursue this business philosophy. While this strategy does not enable the Association to earn the highest rates of interest on loans that it offers or to pay the lowest rates on its deposit accounts, the Association believes that this strategy is the primary reason for its successful growth in the past and will continue to be a successful strategy in the future.
The Association attracts retail deposits from the general public in the areas surrounding its main office and its branch offices. It also utilizes its internet website, direct mail solicitation and its customer service call center to generate loan applications and attract retail deposits. Brokered CDs and longer-term advances from the FHLB of Cincinnati as well as
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shorter-term advances from the FHLB of Cincinnati, hedged to longer effective durations by interest rate exchange contracts, are also used as cost effective funding alternatives. In addition to residential real estate mortgage loans, the Association originates residential construction loans to individuals for the construction of their personal residences by a qualified builder. The Association also offers home equity loans and lines of credit subject to certain property and credit performance conditions. The Association retains in its portfolio a large portion of the loans that it originates. Loans that the Association sells consist primarily of long-term, fixed-rate residential real estate mortgage loans. The Association retains the servicing rights on all loans that it sells. The Association’s revenues are derived primarily from interest on loans and, to a lesser extent, interest on interest-earning deposits in other financial institutions, deposits maintained at the FRS, federal funds sold, and investment securities, including mortgage-backed securities and dividends from FHLB of Cincinnati stock. The Association also generates revenues from fees and service charges. The Association’s primary sources of funds are deposits, borrowings, principal and interest payments on loans and securities and proceeds from loan sales.
The Association’s website address is www.thirdfederal.com. Filings of the Company made with the SEC are available, without charge, on the Association’s website. Information on that website is not and should not be considered a part of this document.
Market Area
The Association conducts its operations from its main office in Cleveland, Ohio, and from 37 additional, full-service branches and seven loan production offices located throughout the states of Ohio and Florida. In Ohio, the Association maintains 21 full-service offices located in the northeast Ohio counties of Cuyahoga, Lake, Lorain, Medina and Summit, three loan production offices located in the central Ohio counties of Franklin and Delaware (Columbus, Ohio) and four loan production offices located in the southern Ohio counties of Butler and Hamilton (Cincinnati, Ohio). In Florida, the Association maintains 16 full-service branches located in the counties of Pasco, Pinellas, Hillsborough, Sarasota, Lee, Collier, Palm Beach and Broward.
The Association also provides savings products in all 50 states and first mortgage refinance loans in 21 states and the District of Columbia. Home equity lines of credit are provided in 25 states and the District of Columbia. First mortgage loans and bridge loans to purchase homes are provided in 13 states while other equity loan products are provided in eight states. These products are provided through its branch network for customers in its core markets of Ohio, Florida, Kentucky and selected counties in Indiana as well as its customer service call center and its internet site for all customers not served by its branch network.
Competition
The Association faces intense competition in its market areas both in making loans and attracting deposits. Its market areas have a high concentration of financial institutions, including large money centers and regional banks, community banks and credit unions, and it faces additional competition for deposits from money market funds, brokerage firms, mutual funds and insurance companies. Some of its competitors offer products and services that the Association currently does not offer, such as commercial business loans, trust services and private banking.
The majority of the Association’s deposits are held in its offices located in Cuyahoga County, Ohio. As of June 30, 2020 (the latest date for which information is publicly available), the Association had $4.9 billion of deposits in Cuyahoga County, and ranked fifth among all financial institutions with offices in the county in terms of deposits, with a market share of 6.16%. As of that date, the Association had $6.5 billion of deposits in the State of Ohio, and ranked ninth among all financial institutions in the state in terms of deposits, with a market share of 1.44%. As of June 30, 2020 (the latest date for which information is publicly available), the Association had $2.8 billion of deposits in the State of Florida, and ranked 29th among all financial institutions in terms of deposits, with a market share of 0.40%. This market share data excludes deposits held by credit unions, whose deposits are not insured by the FDIC.
Many financial institutions, including institutions that compete in our markets, have targeted retail deposit gathering as a more attractive funding source than borrowings, and have become more active and more competitive in their deposit product pricing. The combination of reduced demand for borrowed funds, more competition with respect to rates paid to depositors, and low savings rates that lead to reduced appeal for investors that have traditionally allocated a portion of their portfolios to insured savings accounts, has created an increasingly difficult marketplace for attracting deposits, which could adversely affect future operating results.
From October 2019 through August 31, 2020 (the latest date for which information is publicly available), per data furnished by MarketTrac®, the Association had the largest market share of conventional purchase mortgage loans originated in Cuyahoga County, Ohio. For the same period, it also had the largest market share of conventional purchase mortgage loans originated in the seven northeast Ohio counties which comprise the Cleveland and Akron metropolitan statistical areas. In
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addition, based on the same statistics, the Association has consistently been one of the ten largest lenders in both Franklin County (Columbus, Ohio) and Hamilton County (Cincinnati, Ohio) since it entered those markets in 1999.
The Association’s primary strategy for increasing and retaining its customer base is to offer competitive deposit and loan rates and other product features, delivered with exceptional customer service, in each of the markets it serves.
We rely on the reputation that has been built during the Association’s over 80-year history of serving its customers and the communities in which it operates, the Association’s high capital levels, and the Association's extensive liquidity alternatives which, in combination, serve to maintain and nurture customer and marketplace confidence. The Company’s high capital ratio continues to reflect the beneficial impact of our 2007 initial public offering, which raised net proceeds of $886 million. At September 30, 2020, our ratio of shareholders’ equity to total assets was 11.4%. Our liquidity alternatives include management and monitoring of the level of liquid assets held in our portfolio as well as the maintenance of alternative wholesale funding sources. For the year ended September 30, 2020, our liquidity ratio averaged 5.59% (which we compute as the sum of cash and cash equivalents plus unpledged investment securities for which ready markets exist, divided by total assets) and, through the Association, we had the ability to immediately borrow an additional $250.8 million from the FHLB of Cincinnati under existing credit arrangements along with $364.1 million from the Federal Reserve Bank of Cleveland. See Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operation - Liquidity and Capital Resources.
We continue to utilize a multi-faceted approach to support our efforts to instill customer and marketplace confidence. First, we provide thorough and timely information to all of our associates so as to prepare them for their day-to-day interactions with customers and other individuals who are not part of the Company. We believe that it is important that our customers and others sense the comfort level and confidence of our associates throughout their dealings. Second, we encourage our management team to maintain a presence and to be available in our branches and other areas of customer contact, so as to provide more opportunities for informal contact and interaction with our customers and community members. Third, our CEO remains accessible to both local and national media, as a spokesman for our institution as well as an observer and interpreter of financial marketplace situations and events. Fourth, we periodically include advertisements in local newspapers that display our strong capital levels and history of service. We also continue to emphasize our traditional tagline—“STRONG * STABLE * SAFE”—in our advertisements and branch displays. Finally, for customers who adhere to the old adage of trust but verify, we refer them to the safety/security rankings of a nationally recognized, independent rating organization that specializes in the evaluation of financial institutions, which has awarded the Association its highest rating for more than one hundred consecutive quarters. During the fiscal year ended September 30, 2020, the COVID-19 pandemic presented a significant challenge to our customers, associates and communities. Our response to this challenge continues to support our customer and marketplace confidence. See Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operation-Overview.

Lending Activities
The Association’s principal lending activity is the origination of fixed-rate and adjustable-rate, first mortgage loans to purchase or refinance residential real estate. Adjustable-rate and up to 30-year fixed rate first mortgage loans to refinance real estate are offered in 21 states and the District of Columbia. Also, the Association offers adjustable-rate and up to 30-year fixed rate first mortgage loans to purchase real estate in 13 states. Further, the Association originates residential construction loans to individuals (for the construction of their personal residences by a qualified builder) in Ohio and Florida. The Association also offers home equity lines of credit in 25 states and the District of Columbia and home equity loans in eight states. Refer to Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operation-Monitoring and Limiting Our Credit Risk for additional information regarding home equity loans and lines of credit. At September 30, 2020, residential real estate, fixed-rate and adjustable-rate, first mortgage loans totaled $10.85 billion, or 82.6% of our loan portfolio, home equity loans and lines of credit totaled $2.23 billion, or 17.0% of our loan portfolio, and residential construction loans totaled $48.0 million, or 0.4% of our loan portfolio. At September 30, 2020, adjustable-rate, residential real estate, first mortgage loans totaled $5.12 billion and comprised 39.0% of our loan portfolio.
Loan Portfolio Composition. The following table sets forth the composition of the portfolio of loans held for investment, by type of loan segregated by geographic location, at the indicated periods, excluding loans held for sale. The majority of our construction loan portfolio is secured by properties located in Ohio and the balances of other loans are immaterial. Therefore, neither was segregated by geographic location.
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 September 30,
 20202019201820172016
 AmountPercentAmountPercentAmountPercentAmountPercentAmountPercent
 (Dollars in thousands)
Real estate loans:
Residential Core (1)
Ohio$6,020,882 $6,197,261 $6,052,208 $6,061,515 $5,937,114 
Florida1,823,125 1,748,816 1,758,762 1,739,098 1,678,798 
Other2,930,838 2,956,947 3,119,841 2,945,591 2,453,740 
Total10,774,845 82.0%10,903,024 82.5%10,930,811 84.7%10,746,204 86.2%10,069,652 85.5%
Residential Home
    Today (1)
Ohio71,801 81,081 90,604 103,803 116,253 
Florida3,280 3,771 4,150 4,924 5,414 
Other85 90 179 237 271 
Total75,166 0.684,942 0.694,933 0.7108,964 0.9121,938 1.0
Home equity loans and
lines of credit
Ohio655,867 677,212 652,271 606,301 597,735 
Florida432,301 415,849 369,252 340,530 370,111 
California349,701 357,550 268,230 205,157 210,004 
Other794,367 724,350 529,165 400,327 353,432 
Total2,232,236 17.02,174,961 16.51,818,918 14.11,552,315 12.41,531,282 13.0
Construction47,985 0.452,332 0.464,012 0.560,956 0.561,382 0.5
Other loans2,581 3,166 3,021 3,050 3,116 
Total loans receivable13,132,813 100.0%13,218,425 100.0%12,911,695 100.0%12,471,489 100.0%11,787,370 100.0%
Deferred loan expenses
(fees), net
42,459 41,976 38,566 30,865 19,384 
Loans in process(25,273)(25,743)(36,549)(34,100)(36,155)
Allowance for loan
losses
(46,937)(38,913)(42,418)(48,948)(61,795)
Total loans receivable, net$13,103,062 $13,195,745 $12,871,294 $12,419,306 $11,708,804 
 ______________________
(1)Residential Core and Home Today loans are primarily one- to four-family residential mortgage loans. See the Residential Real Estate Mortgage Loans section which follows for a further description of Residential Core and Home Today loans.

Loan Portfolio Maturities. The following table summarizes the scheduled repayments of the loan portfolio at September 30, 2020, according to each loan's final due date. Demand loans, loans having no stated repayment schedule or maturity, are reported as being due in the fiscal year ending September 30, 2021. Maturities are based on the final contractual payment date and do not reflect the impact of prepayments and scheduled principal amortization.
Due During the Years
Ending September 30,
Residential Real EstateHome Equity
Loans
and Lines of
Credit
Construction
Loans
Other
Loans
Total
CoreHome
Today
 (In thousands)
2021$1,499 $$6,313 $— $2,581 $10,396 
202224,949 88 4,737 — — 29,774 
202373,043 75 3,930 — — 77,048 
2024 to 2025347,136 329 14,809 — — 362,274 
2026 to 20301,269,395 322 188,009 — — 1,457,726 
2031 to 2035741,969 37,821 6,167 4,190 — 790,147 
2036 and beyond8,316,854 36,528 2,008,271 43,795 — 10,405,448 
Total$10,774,845 $75,166 $2,232,236 $47,985 $2,581 $13,132,813 

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The following table sets forth the scheduled repayments of fixed- and adjustable-rate loans at September 30, 2020 that are contractually due after September 30, 2021.
 Due After September 30, 2021
 FixedAdjustableTotal
 (In thousands)
Real estate loans:
Residential Core$5,651,313 $5,122,033 $10,773,346 
Residential Home Today75,085 78 75,163 
Home Equity Loans and Lines of Credit104,536 2,121,387 2,225,923 
Construction47,985 — 47,985 
Total$5,878,919 $7,243,498 $13,122,417 
Residential Real Estate Mortgage Loans. The Association’s primary lending activity is the origination of residential real estate mortgage loans. A comparison of 2020 data to the corresponding 2019 data can be found in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operation. The Association currently offers fixed-rate conventional mortgage loans with terms of 30 years or less that are fully amortizing with monthly loan payments, and adjustable-rate mortgage loans that amortize over a period of up to 30 years, provide an initial fixed interest rate for three or five years and then adjust annually, subject to rate reset options as discussed later in this section. At September 30, 2020, there were no “interest only” residential real estate mortgage loans held in the Association's portfolio.
The Association generally originates both fixed- and adjustable-rate mortgage loans in amounts up to the maximum conforming loan limits as established by the FHFA, which are currently $510,400 and $765,600, respectively, for single-family homes in most of our lending markets. The Association also originates loans in amounts that exceed the lending limit for conforming loans, which the Association refers to as “jumbo loans.” The Association generally underwrites jumbo loans in a manner similar to conforming loans. Jumbo loans are not uncommon in the Association’s market areas.
The Association offers “Smart Rate” adjustable-rate mortgage loan products secured by residential properties with interest rates that are fixed for an initial period of three or five years, after which the interest rate generally resets every year based upon a contractual spread or margin linked to the Prime Rate as published in the Wall Street Journal. As part of a loan retention program, these adjustable-rate loans provide the borrower with an attractive rate reset option, which allow the borrower to re-lock the rate an unlimited number of times at the Association’s then current lending rates, for another three or five years (which must be the same as the original lock period). Adjustable-rate mortgage loans generally present different credit risks than fixed-rate mortgage loans primarily because the underlying debt service payments of the borrowers increase as interest rates increase, thereby increasing the potential for default. All of the Association’s adjustable-rate mortgage loans are subject to periodic and lifetime limitations on interest rate changes.
All adjustable-rate mortgage loans have initial and periodic caps of two percentage points on interest rate changes, with a cap of five or six percentage points for the life of the loan. Many of the borrowers who select adjustable-rate mortgage loans have shorter-term credit needs than those who select long-term, fixed-rate mortgage loans. Prior to 2010, the Association’s adjustable-rate mortgage loan products secured by residential properties offered interest rates that generally reset every year based upon a contractual spread or margin above the average yield on U.S. Treasury securities, adjusted to a constant maturity of one year, as published weekly by the FRS (“Traditional ARM”). The Association will permit borrowers to convert Traditional ARMs into fixed-rate mortgage loans at no cost to the borrower. The Association has never offered “Option ARM” loans, where borrowers can pay less than the interest owed on their loan, resulting in an increased principal balance during the life of the loan. At September 30, 2020, "Smart Rate" adjustable-rate mortgage loans totaled $5.08 billion, or 99.1% of the adjustable-rate mortgage loan portfolio and Traditional ARMs totaled $44.1 million, or 0.9% of the adjustable-rate mortgage loan portfolio.
The Association has always considered the promotion of home ownership a primary goal. In that regard, it has historically offered affordable housing programs in all of its market areas. These programs are targeted toward low- and moderate-income home buyers. The Association’s philosophy has been to provide borrowers the opportunity for home ownership within their financial means. During the latter portion of fiscal 2016, the Association began to market its Home Ready mortgage loan product for low- and moderate-income homeowners. Third Federal’s Home Ready product is designed to be saleable to Fannie Mae under its Home Ready program. Previously, the Association’s primary affordable housing program was referred to as "Home Today". The vast majority of loans originated under the Home Today program had higher risk characteristics than our Core residential real estate mortgage loan, but the Association attempted to mitigate that higher risk through the use of private mortgage insurance and continued pre- and post-purchase counseling. As of September 30, 2020, the Association had $75.2 million of loans outstanding that were originated through its Home Today program, most of which were
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originated prior to March 2009. At September 30, 2020, of the loans that were originated under the Home Today program, 6.1% were delinquent 30 days or more compared to 0.2% for the portfolio of Core loans as of that date. At September 30, 2020, $2.5 million, or 3.3%, of loans originated under the Home Today program were delinquent 90 days and over and $10.4 million of Home Today loans were non-accruing loans, representing 19.4% of total non-accruing loans as of that date. See Delinquent Loans and Non-performing Assets and Restructured Loans for discussions of the asset quality of this portion of the Association’s loan portfolio.
The Association currently retains the servicing rights on all loans sold in order to generate fee income and reinforce its commitment to customer service. One- to four-family residential mortgage real estate loans that have been sold were underwritten generally to Fannie Mae guidelines. At the time of the closing of these loans the Association owns the loans and subsequently sells them to Fannie Mae and others providing normal and customary representations and warranties, including representations and warranties related to compliance, generally with Fannie Mae underwriting standards. At the time of sale, the loans are free from encumbrances except for the mortgages filed by the Association which, with other underwriting documents, are subsequently assigned and delivered to Fannie Mae and others. During the fiscal years ended September 30, 2020 and 2019, the Association recognized servicing fees, net of amortization, related to these servicing rights of $3.4 million and $4.2 million, respectively. As of September 30, 2020 and 2019, the principal balance of loans serviced for others totaled $2.01 billion and $1.80 billion, respectively. At September 30, 2020, substantially all of the loans serviced for Fannie Mae and others were performing in accordance with their contractual terms and management believes that it had no material repurchase obligations associated with these loans at that date. However, at September 30, 2020, an accrual for $0.6 million has been maintained for potential repurchase or loss reimbursement requests.
The Association actively monitors its interest rate risk position to determine its desired level of investment in fixed-rate mortgages. The historically low mortgage interest rates during fiscal 2020 have re-emphasized the strategic importance of the sales of first mortgage loans in our management of interest rate risk.
The Association requires title insurance on all of its residential real estate mortgage loans. The Association also requires that borrowers maintain fire and extended coverage casualty insurance (and, if appropriate, flood insurance up to $250 thousand) in an amount at least equal to the lesser of the loan balance or the replacement cost of the improvements. A majority of its residential real estate mortgage loans have a mortgage escrow account from which disbursements are made for real estate taxes and to a lesser extent for hazard insurance and flood insurance. The Association does not conduct environmental testing on residential real estate mortgage loans unless specific concerns for hazards are identified by the appraiser used in connection with the origination of the loan.
For home purchase loans with LTV ratios at origination in excess of 85% but equal to or less than 90%, the Association generally requires private mortgage insurance. During fiscal year 2020, the Association began to offer a new product allowing up to 90% LTV with no mortgage insurance for superior credit borrowers. LTV ratios in excess of 80% are not available for refinance transactions except for adjustable-rate, first mortgage loans and Home Ready loans. The Home Ready product requires private mortgage insurance on purchase transactions between 80.01% and 97% LTV and refinance transactions between 80.01% and 95% LTV.
During fiscal year 2020, the Association originated home purchase loans under a new high LTV product where initial LTV ratios are as high as 90% with no mortgage insurance. As of September 30, 2020, the Association had a total of $36.6 million of loans outstanding that were originated through this high LTV program. Prior to November 2008, the Association also originated loans under a high LTV program. These loans had initial LTV ratios as high as 95%. Borrowers did not obtain private mortgage insurance with respect to these loans, but the Association had negotiated with a private mortgage insurance carrier for pooled private mortgage insurance coverage. As of September 30, 2020, the Association had $27.5 million of loans outstanding that were originated through this high LTV program, $23.9 million of which the Association has insured through the private mortgage insurance carrier. Both of these programs originated with higher interest rates than the Association's other residential real estate loans and to qualify for these programs, the loan applicant must satisfy more stringent underwriting criteria (credit score, income qualification, and other criteria).
Home Equity Loans and Home Equity Lines of Credit. The Association offers home equity loans and home equity lines of credit, which are primarily secured by a second mortgage on residences. The home equity product is now offered in 25 states and the District of Columbia. Home equity lines of credit originated since 2013 require amortizing loan payments during the draw period. These offers were, and are, subject to certain property and credit performance conditions which, among other items, related to CLTV, geography, borrower income verification, minimum credit scores and draw period duration. At September 30, 2020 and 2019, home equity loans totaled $315.0 million, or 2.4%, and $421.8 million, or 3.2%, respectively, of total loans receivable (which included $204.1 million and $269.4 million, respectively, of home equity lines of credit which were in the amortization period and no longer eligible to be drawn upon and $9.2 million and $26.5 million of bridge loans), and home equity lines of credit totaled $1.92 billion, or 14.6%, and $1.75 billion, or 13.3%, respectively, of total loans
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receivable. A bridge loan permits a borrower to utilize the existing equity in their current home to fund the purchase of a new home before the current home is sold. Bridge loans are originated for a one-year term, with no prepayment penalties. These loans have fixed interest rates, and are currently limited to a combined 70% LTV ratio (first and second mortgage liens). The Association charges a closing fee with respect to bridge loans. Additionally, at September 30, 2020 and 2019, the unadvanced amounts of home equity lines of credit totaled $2.55 billion and $2.21 billion, respectively. Home equity products offered by the Association prior to 2015 varied significantly as the product was slowly reintroduced at much lower volumes following the 2008 housing crisis. Prior to June 2010, the Association offered home equity loans and home equity lines of credit with underwriting standards that were less restrictive than current underwriting standards, which impacted acceptable LTV ratios, minimum credit scores, income and employment verification and line amounts. The vast majority of those pre-2010 products have been paid off, refinanced under current underwriting standards or are in the amortization period and no longer eligible to be drawn upon.
The Association originated its home equity loans and home equity lines of credit without application fees (except for bridge loans) or borrower-paid closing costs. Home equity loans were offered with fixed interest rates, were fully amortizing and had terms of up to 15 years. The Association’s home equity lines of credit were offered with adjustable rates of interest indexed to the Prime Rate, as reported in The Wall Street Journal.

The following table sets forth credit exposure, principal balance, percent delinquent 90 days or more, the mean CLTV percent at the time of origination and the current mean CLTV percent of our home equity loans, home equity lines of credit and bridge loan portfolio as of September 30, 2020. Home equity lines of credit in the draw period are reported according to geographical distribution.
Credit
Exposure
Principal
Balance
Percent
Delinquent
90 days or More
Mean CLTV
Percent at
Origination(2)
Current  Mean
CLTV
Percent(3)
 (Dollars in thousands)   
Home equity lines of credit in draw period (by
state):
Ohio$1,496,419 $544,217 0.11 %59 %50 %
Florida715,748 346,738 0.02 %57 %50 %
California651,815 296,481 0.01 %61 %57 %
Other (1)1,606,571 729,836 0.02 %63 %59 %
Total home equity lines of credit in draw
period
4,470,553 1,917,272 0.05 %60 %54 %
Home equity lines in repayment, home equity
loans and bridge loans
314,964 314,964 1.07 %64 %44 %
Total$4,785,517 $2,232,236 0.19 %61 %52 %
______________________
(1)No other individual state has a committed or drawn balance greater than 10% of our total equity lending portfolio and 5% of total loans.
(2)Mean CLTV percent at origination for all home equity lines of credit is based on the committed amount.
(3)Current Mean CLTV is based on best available first mortgage and property values as of September 30, 2020. Property values are estimated using HPI data published by the FHFA. Current Mean CLTV percent for home equity lines of credit in the draw period is calculated using the committed amount. Current Mean CLTV on home equity lines of credit in the repayment period is calculated using the principal balance.
At September 30, 2020, 37.1% of our home equity lending portfolio was either in a first lien position (21.1%), in a subordinate (second) lien position behind a first lien that we held (13.3%) or behind a first lien that was held by a loan that we originated, sold and now service for others (2.7%). At September 30, 2020, 13.5% of our home equity line of credit portfolio in the draw period was making only the minimum payment on the outstanding line balance.

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The following table sets forth by calendar origination year, the credit exposure, principal balance, percent delinquent 90 days or more, the mean CLTV percent at the time of origination and the current mean CLTV percent of our home equity loans, home equity lines of credit and bridge loan portfolio as of September 30, 2020. Home equity lines of credit in the draw period are included in the year originated: 
Credit
Exposure
Principal
Balance
Percent
Delinquent
90 Days or More
Mean CLTV
Percent at
Origination(1)
Current Mean
CLTV
Percent(2)
 (Dollars in thousands)   
Home equity lines of credit in draw period (3)
2010 and Prior$707 $173 — %13 %50 %
201340 18 — %79 %52 %
201484,501 22,719 — %59 %39 %
2015135,647 44,423 0.09 %59 %41 %
2016342,505 127,500 0.16 %61 %46 %
2017732,371 309,981 0.11 %59 %49 %
20181,001,335 461,563 0.04 %60 %54 %
20191,309,845 645,398 0.02 %62 %59 %
2020863,602 305,497 — %59 %58 %
Total home equity lines of credit in
draw period
4,470,553 1,917,272 0.05 %60 %54 %
Home equity lines in repayment, home equity
loans and bridge loans
314,964 314,964 1.07 %64 %44 %
Total$4,785,517 $2,232,236 0.19 %61 %52 %
______________________
(1)Mean CLTV percent at origination for all home equity lines of credit is based on the committed amount.
(2)Current Mean CLTV is based on best available first mortgage and property values as of September 30, 2020. Property values are estimated using HPI data published by the FHFA. Current Mean CLTV percent for home equity lines of credit in the draw period is calculated using the committed amount. Current Mean CLTV on home equity lines of credit in the repayment period is calculated using the principal balance.
(3)There are no remaining principal balances of home equity lines of credit for years 2011 and 2012. Those years are excluded from the table above.
In general, the home equity line of credit product originated prior to 2010 was characterized by a ten year draw period followed by a ten year repayment period; however, there were certain extensions provided to customers that resulted in a draw period that extended beyond ten years.
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The following table sets forth by fiscal year when the draw period expires, the principal balance of home equity lines of credit in the draw period as of September 30, 2020, segregated by the current combined LTV range.
Current CLTV Category
Home equity lines of credit in draw period (by End of Draw Fiscal Year):< 80%80 - 89.9%90 - 100%>100%Unknown (1)Total
(Dollars in thousands)
2020$27,184$116$—$22$—$27,322
202117,571 — — — — 17,571 
202224 — — — — 24 
202318 — — — — 18 
202414,027 — — — — 14,027 
202541,731 — — — 17 41,748 
Post 20251,810,145 5,502 266 267 382 1,816,562 
   Total$1,910,700$5,618$266$289$399$1,917,272
______________________
(1) Market data necessary for stratification is not readily available.
Home equity lines of credit originated in 2009 or earlier had delinquency levels comparatively higher than the years following 2010. Home equity lines of credit originated during those years also saw higher loan amounts, higher permitted LTV ratios, and lower credit scores. Most of the remaining home equity lines of credit originated in 2009 or prior have come to the end of their draw period and are in repayment. The principal balance of all home equity products no longer in the draw period, including those lines originated in 2009 and earlier, is $204.1 million. In addition, as shown in the table below, the principal balance of home equity lines of credit in the draw period that have a current mean CLTV over 80% or unknown is $6.6 million, or 0.3% at September 30, 2020.
While there have been recent improvements, the previous past weakness in the housing market causes us to continue to conduct an expanded loan level evaluation of our home equity lines of credit which are delinquent 90 days or more.
The following table sets forth the breakdown of current mean CLTV percentages for our home equity lines of credit in the draw period as of September 30, 2020.
Credit
Exposure
Principal
Balance
Percent
of Total Principal Balance
Percent
Delinquent
90 days or
More
Mean
CLTV
Percent at
Origination(2)
Current
Mean
CLTV
Percent(3)
 (Dollars in thousands)    
Home equity lines of credit in draw period (by current mean CLTV):
< 80%$4,440,127 $1,910,700 99.7 %0.04 %60 %53 %
80 - 89.9%13,426 5,618 0.3 %0.39 %77 %82 %
90 - 100%598 266 — %— %75 %94 %
> 100%15,540 289 — %7.60 %55 %129 %
Unknown (1)862 399 — %— %42 %(1)
$4,470,553 $1,917,272 100.0 %0.05 %60 %54 %
______________________
(1)Market data necessary for stratification is not readily available.
(2)Mean CLTV percent at origination for all home equity lines of credit is based on the committed amount.
(3)Current Mean CLTV is based on best available first mortgage and property values as of September 30, 2020. Property values are estimated using HPI data published by the FHFA. Current Mean CLTV percent for home equity lines of credit in the draw period is calculated using the committed amount. Current Mean CLTV on home equity lines of credit in the repayment period is calculated using the principal balance.
Construction Loans. The Association originates construction loans to individuals for the construction of their personal single-family residence by a qualified builder (construction/permanent loans). The Association’s construction/permanent loans generally provide for disbursements to the builder or sub-contractors during the construction phase as work progresses. During
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the construction phase, the borrower only pays interest on the drawn balance. Upon completion of construction, the loan converts to a permanent amortizing loan without the expense of a second closing. The Association offers construction/permanent loans with fixed or adjustable rates, and a current maximum loan-to-completed-appraised value ratio of 80%. At September 30, 2020, construction loans totaled $48.0 million, or 0.4% of total loans receivable. At September 30, 2020, the unadvanced portion of these construction loans totaled $25.3 million.
Construction financing generally involves greater credit risk than long-term financing on improved, owner-occupied real estate. Risk of loss on a construction loan depends largely upon the accuracy of the initial estimate of the value of the property at completion of construction compared to the estimated cost (including interest) of construction and other assumptions. If the estimate of construction cost proves to be inaccurate, the Association may be required to advance additional funds beyond the amount originally committed in order to protect the value of the property. Moreover, if the estimated value of the completed project proves to be inaccurate, the borrower may hold a property with a value that is insufficient to assure full repayment of the construction loan upon the sale of the property. This is more likely to occur when home prices are falling.
Loan Originations, Purchases, Sales, Participations and Servicing. Lending activities are conducted by the Association’s loan personnel (all of whom are non-commissioned associates) operating at our main and branch office locations and at our loan production offices. All loans that the Association originates are underwritten pursuant to its policies and procedures, which, for real estate loans, are consistent with the ability to repay guidance provided by the CFPB. Loans originated with the intent to sell and certain other long-term, fixed-rate loans, as described below, are originated using Fannie Mae processing and underwriting guidelines. The majority of loans, however, are originated using guidelines that are similar, but not identical to Fannie Mae processing and underwriting guidelines. The Association originates both adjustable-rate and fixed-rate loans and advertises extensively throughout its market area. Its ability to originate fixed- or adjustable-rate loans is dependent upon the relative consumer demand for such loans, which is affected by current market interest rates as well as anticipated future market interest rates. The Association’s loan origination and sales activity may be adversely affected by a rising interest rate environment or economic recession, which typically results in decreased loan demand. The Association’s residential real estate mortgage loan originations are generated by its in-house loan representatives, by direct mail solicitations, by referrals from existing or past customers, by referrals from local builders and real estate brokers, from calls to its telephone call center and from the internet.
Except for loans originated in accordance with the guidelines of Fannie Mae's Home Ready program, which loans are originated with the intent to sell, the Association decides whether to retain, sell or securitize the loans that it originates, after evaluating current and projected market interest rates, its interest rate risk objectives, its liquidity needs and other factors. A combination of high loan origination levels, historically low mortgage interest rates and attractive Fannie Mae loan sale prices led to a significant increase in the level of loan sales during fiscal 2020. During the fiscal year ended September 30, 2020, the Association sold, or committed to sell, to Fannie Mae, in either whole loan or security form, $618.7 million of long-term, fixed-rate residential real estate mortgage loans, and to a private investor, $225.6 million of long-term, fixed-rate residential real estate mortgage loans, all on a servicing retained basis. In addition to sales of long-term, fixed-rate residential real estate mortgage loans, the Association has also previously sold to private parties, non-agency eligible, adjustable-rate loans on a servicing retained basis. Those sales evidenced the saleability of our loans that are not originated in accordance with agency specified procedures, including adjustable-rate loans. As described in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operation - Controlling Our Interest Rate Risk Exposure, only a portion of the Association's first mortgage loan originations are eligible for securitization and sale in Fannie Mae mortgage backed security form. The balance of loans held for sale was $36.9 million at September 30, 2020, which included $3.9 million that were originated pursuant to the guidelines of Fannie Mae's Home Ready program.
Historically, the Association has retained the servicing rights on all residential real estate mortgage loans that it has sold, and intends to continue this practice into the future. At September 30, 2020, the Association serviced loans owned by others with a principal balance of $2.01 billion. Loan servicing includes collecting and remitting loan payments, accounting for principal and interest, contacting delinquent borrowers, supervising foreclosures and property dispositions in the event of unremedied defaults, making certain insurance and tax payments on behalf of the borrowers and generally administering the loans. The Association retains a portion of the interest paid by the borrower on the loans it services as consideration for its servicing activities. During the fiscal year ended September 30, 2020, the Association transferred $53.0 million of loans in a single participation agreement that qualified for sales treatment. The Association does not expect to enter into loan participations in the near future.
Loan Approval Procedures and Authority. The Association’s lending activities follow written underwriting standards and loan origination procedures established by its Board of Directors. The loan approval process is intended to assess the borrower’s ability to repay the loan and the value of the property that will secure the loan. To assess the borrower’s ability to repay, the Association reviews the borrower’s employment and credit history and information on the historical and projected income and expenses of the borrower.
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The Association’s policies and loan approval limits are established by its Board of Directors. The Association’s Board of Directors has delegated authority to its Executive Committee (consisting of the Association’s Chief Executive Officer and two directors) to review and assign lending authorities to certain individuals of the Association to consider and approve loans within their designated authority. Residential real estate mortgage loans and construction loans require the approval of one individual with designated underwriting authority.
The Association requires independent third-party valuations of real property. Appraisals are performed by independent licensed appraisers.
Delinquent Loans. While we are not currently receiving payments on loans in active COVID-19 forbearance plans, the majority of these accounts are reported as current and accruing and are not currently included in the recorded investment of TDRs. See further discussion under the Allowance for Loan Losses caption later in this section,and also Note 5. LOANS AND ALLOWANCE FOR LOAN LOSSES of the Notes to Consolidated Financial Statements. The following tables set forth the recorded investment in loan delinquencies by type, segregated by geographic location and severity of delinquency at the dates indicated. There were no delinquencies in the construction loan portfolio for the fiscal years presented.
Loans Delinquent For
 30-89 Days90 Days or MoreTotal
 (Dollars in thousands)
September 30, 2020
Real estate loans:
Residential Core
Ohio$5,463 $6,982 $12,445 
Florida1,023 1,852 2,875 
Other401 1,124 1,525 
Total Residential Core6,887 9,958 16,845 
Residential Home Today
Ohio1,974 2,390 4,364 
Florida83 90 173 
Total Residential Home Today2,057 2,480 4,537 
Home equity loans and lines of credit
Ohio898 1,938 2,836 
Florida634 564 1,198 
California383 489 872 
Other670 1,269 1,939 
Total Home equity loans and lines of credit2,585 4,260 6,845 
Total$11,529 $16,698 $28,227 

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Loans Delinquent For
 30-89 Days90 Days or MoreTotal
 (Dollars in thousands)
September 30, 2019
Real estate loans:
Residential Core
Ohio$8,519 $5,503 $14,022 
Florida930 1,305 2,235 
Other1,405 866 2,271 
Total Residential Core10,854 7,674 18,528 
Residential Home Today
Ohio4,155 2,586 6,741 
Florida159 37 196 
Total Residential Home Today4,314 2,623 6,937 
Home equity loans and lines of credit
Ohio1,746 1,950 3,696 
Florida1,065 1,260 2,325 
California187 552 739 
Other1,189 2,035 3,224 
Total Home equity loans and lines of credit4,187 5,797 9,984 
Total$19,355 $16,094 $35,449 

Loans Delinquent For
 30-89 Days90 Days or MoreTotal
(Dollars in thousands)
September 30, 2018
Real estate loans:
Residential Core
Ohio$7,622 $7,392 $15,014 
Florida906 2,455 3,361 
Other1,346 960 2,306 
Total Residential Core9,874 10,807 20,681 
Residential Home Today
Ohio4,483 3,756 8,239 
Florida69 58 127 
Total Residential Home Today4,552 3,814 8,366 
Home equity loans and lines of credit
Ohio2,117 2,286 4,403 
Florida2,011 2,085 4,096 
California302 255 557 
Other2,037 1,307 3,344 
Total Home equity loans and lines of credit6,467 5,933 12,400 
Total$20,893 $20,554 $41,447 
 
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Loans Delinquent For
 30-89 Days90 Days or MoreTotal
 (Dollars in thousands)
September 30, 2017
Real estate loans:
Residential Core
Ohio$6,850 $8,756 $15,606 
Florida1,671 2,507 4,178 
Other149 712 861 
Total Residential Core8,670 11,975 20,645 
Residential Home Today
Ohio5,244 6,678 11,922 
Florida319 173 492 
Total Residential Home Today5,563 6,851 12,414 
Home equity loans and lines of credit
Ohio3,037 2,134