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The Ohio company has been giving customers longer grace periods to address overdraft charges. While it has seen service charges decline, the company has been adding customers and checking accounts.
July 24 -
Regional banks are reporting strong commercial loan growth as they have for so many quarters. Yet this time it looks like more of the growth is coming from existing clients, and there are also some early warnings about credit challenges.
July 21 -
TFS Financial announced dividend plans recently that have many wondering whether it is headed toward a second-step conversion in the near future. The speculation makes sense, but the Cleveland company would face some obstacles.
July 3
TFS Financial in Cleveland reported lower second-quarter profit due to increased expenses for a range of matters, including personnel costs.
The $12.3 billion-asset holding company for Third Federal Savings and Loan Association of Cleveland said its net income fell 2.1% to $17.3 million, or 6 cents per share
Net interest income fell 0.4% to $67.6 million. The net interest margin tightened 22 basis points to 2.19%.
Noninterest income rose 7.3% to $6.1 million on a higher net gain on loan sales, which rose to $1.5 million.
Noninterest expense rose 11.7% to $47.8 million. The cost of marketing services soared 106.2% to $7.2 million. TFS also spent more on salaries and employee benefits, office property and equipment, and federal insurance premiums and assessments.