TFS Financial Q3 net income decreases

Comtex News Network

Aug 21, 2012 (Datamonitor via COMTEX) --TFS Financial Corporation, the holding company for Third Federal Savings and Loan Association of Cleveland, has reported that net income for the third quarter ended June 30, 2012 was $892,000, or $0.00 per share, compared to $5.98 million, or $0.02 per share, for the third quarter ended June 30, 2011.

Net interest income for the third quarter ended June 30, 2012 was $65.86 million, compared to $63.04 million for the third quarter ended June 30, 2011.

Net income for the nine months ended June 30, 2012 was $10.37 million, or $0.03 per share, compared to $861,000, or $0.00 per share, for the nine months ended June 30, 2011.

Net interest income for the nine months ended June 30, 2012 was $195.9 million, compared to $183.63 million for the nine months ended June 30, 2011.

"We are pleased that our net interest income has increased because of lower costs on deposits and a growing adjustable rate mortgage portfolio," said Chairman and CEO Marc. Stefanski. "However, the ongoing unpredictability in the housing market continues to impact our loan loss provision."

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