Parent Company Only Financial Statements

12 Months Ended

Sep. 30, 2025

Condensed Financial Information Disclosure [Abstract]

Parent Company Only Financial Statements

PARENT COMPANY ONLY FINANCIAL STATEMENTS

The following condensed financial statements for TFS Financial Corporation (parent company only) reflect the investments in, and transactions with, its wholly-owned subsidiaries. Intercompany activity is eliminated in the consolidated financial statements. 

	September 30,
	2025		2024
Statements of Condition
Assets:
Cash and due from banks	$	1,679	$	1,556
Investment securities - available for sale	3,923		3,844
Other loans:
Demand loan due from Third Federal Savings and Loan	111,178		124,683
ESOP loan receivable	28,571		33,015
Investments in:
Third Federal Savings and Loan	1,743,060		1,692,789
Non-thrift subsidiaries	8,672		8,440
Prepaid federal and state taxes	92		75
Deferred income taxes	—		80
Accrued receivables and other assets	8,662		9,277
Total assets	$	1,905,837	$	1,873,759
Liabilities and shareholders’ equity:
Line of credit due non-thrift subsidiary	$	8,697	$	8,439
Accrued expenses and other liabilities	3,093		2,696
Deferred income taxes	123		—
Total liabilities	11,913		11,135
Preferred stock, $0.01 par value, 100,000,000 shares authorized, none issued and outstanding	—		—
Common stock, $0.01 par value, 700,000,000 shares authorized; 332,318,750 shares issued; 280,590,497 and 280,710,854 outstanding at September 30, 2025 and September 30, 2024, respectively	3,323		3,323
Paid-in capital	1,757,813		1,754,365
Treasury stock, at cost; 51,728,253 and 51,607,896 shares at September 30, 2025 and September 30, 2024, respectively	(774,340)		(772,195)
Unallocated ESOP shares	(18,417)		(22,750)
Retained earnings—substantially restricted	946,776		915,489
Accumulated other comprehensive income	(21,231)		(15,608)
Total shareholders’ equity	1,893,924		1,862,624
Total liabilities and shareholders’ equity	$	1,905,837	$	1,873,759

	Years Ended September 30,
	2025		2024		2023
Statements of Comprehensive Income (Loss)
Interest income:
Demand loan due from Third Federal Savings and Loan	$	6,062	$	8,401	$	9,047
ESOP loan	2,308		2,805		2,433
Other interest income	64		72		54
Investment securities available for sale	45		45		45
Total interest income	8,479		11,323		11,579
Interest expense:
Borrowed funds from non-thrift subsidiaries	348		402		351
Total interest expense	348		402		351
Net interest income	8,131		10,921		11,228
Non-interest income:
Intercompany service charges	37		30		30
Dividend from Third Federal Savings and Loan	40,000		—		40,000
Total other income	40,037		30		40,030
Non-interest expenses:
Salaries and employee benefits	5,816		5,331		4,825
Professional services	1,742		1,159		1,253
Office property and equipment	13		13		13
Other operating expenses	133		250		217
Total non-interest expenses	7,704		6,753		6,308
Income before income tax benefit	40,464		4,198		44,950
Income tax benefit	(1,709)		(1,120)		(1,294)
Income before undistributed earnings of subsidiaries	42,173		5,318		46,244
Equity in undistributed earnings of subsidiaries (dividend in excess of earnings):
Third Federal Savings and Loan	48,554		74,097		28,843
Non-thrift subsidiaries	232		173		163
Net income	90,959		79,588		75,250
Change in net unrealized gain (loss) on securities available for sale	4,469		20,114		(7,273)
Change in cash flow hedges	(9,918)		(126,646)		66,649
Change in pension obligation	(174)		5,712		2,688
Total other comprehensive income (loss)	(5,623)		(100,820)		62,064
Total comprehensive income	$	85,336	$	(21,232)	$	137,314

	Years Ended September 30,
	2025		2024		2023
Statements of Cash Flows
Cash flows from operating activities:
Net income	$	90,959	$	79,588	$	75,250
Adjustments to reconcile net income to net cash provided by operating activities:
(Equity in undistributed earnings of subsidiaries) dividend in excess of earnings:
Third Federal Savings and Loan	(48,554)		(74,097)		(28,843)
Non-thrift subsidiaries	(232)		(173)		(163)
Deferred income taxes	183		73		87
ESOP and stock-based compensation expense	2,232		2,037		1,863
Net decrease (increase) in interest receivable and other assets	613		1,189		(1,351)
Net increase (decrease) in accrued expenses and other liabilities	225		223		(273)
Net cash provided by operating activities	45,426		8,840		46,570
Cash flows from investing activities:
Decrease in balances lent to Third Federal Savings and Loan	13,505		47,624		12,465
Net cash provided by investing activities	13,505		47,624		12,465
Cash flows from financing activities:
Principal reduction of ESOP loan	4,444		4,239		4,673
Purchase of treasury shares	(3,201)		—		(5,000)
Dividends paid to common shareholders	(59,533)		(58,953)		(58,294)
Acquisition of treasury shares through net settlement	(776)		(1,925)		(978)
Net increase in borrowings from non-thrift subsidiaries	258		307		647
Net cash used in financing activities	(58,808)		(56,332)		(58,952)
Net increase in cash and cash equivalents	123		132		83
Cash and cash equivalents—beginning of year	1,556		1,424		1,341
Cash and cash equivalents—end of year	$	1,679	$	1,556	$	1,424