Tfs Financial Corporation (TFSL) has reported 0.94 percent fall in profit for the quarter ended Sep. 30, 2016. The company has earned $22.81 million, or $0.08 a share in the quarter, compared with $23.02 million, or $0.08 a share for the same period last year. Revenue during the quarter dropped 4.51 percent to $76.65 million from $80.27 million in the previous year period. Net interest income for the quarter dropped 0.52 percent over the prior year period to $67.63 million. Non-interest income for the quarter fell 4.17 percent over the last year period to $6.02 million.
Tfs Financial Corp has made negative provision of $3 million for loan losses during the quarter, compared with a negative provision of $6 million in the same period last year.
Net interest margin contracted 3 basis points to 2.18 percent in the quarter from 2.21 percent in the last year period.
Kevin Cummings, President and Chief executive officer commented, "While we continue to grow, asset quality remains strong here at Investors as our non-performing loan ratios continue to fall. We remain mindful of commercial real estate concerns in our primary lending areas and will continue to be diligent in our lending practices."
Deposits stood at $8,331.37 million as on Sep. 30, 2016, up 0.55 percent compared with $8,285.86 million on Sep. 30, 2015.
Investments stood at $517.87 million as on Sep. 30, 2016, down 11.48 percent or $67.19 million from year-ago. Shareholders equity was at $1,660.46 million as on Sep. 30, 2016.
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