TFS Financial's Q2 earnings up

May 09, 2008 (Datamonitor via COMTEX) -- TFSL | news | PowerRating | PR Charts -- TFS Financial, the holding company for Third Federal Savings and Loan Association of Cleveland, reported net income of $14.8 million for the three months ended March 31, 2008, compared to net income of $12 million for the same period in 2007.

The company has reported net income of $33.6 million for the six months ended March 31, 2008, compared to net income of $27.8 million for the comparable period of 2007.

The company's provision for loan losses was $4.5 million for the three months ended March 31, 2008 and $2.3 million for the same period of 2007.

Total assets increased by $182.8 million to $10.5 billion at March 31, 2008 from $10.3 billion at September 30, 2007. The growth in assets was funded principally by a $117.2 million increase in deposits, and to a lesser extent by increased principal, interest and related escrow on loans serviced as well as additional retained earnings.

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