TFS Financial Corp
Annual Report 2020

Plain-text annual report

Strong ★ Stable ★ Safe 2020 Annual Report THIRD FEDERAL MANAGEMENT TEAM BOARD OF DIRECTORS Marc A. Stefanski Chairman Ben S. Stefanski III Secretary Anthony J. Asher Martin J. Cohen Robert A. Fiala William C. Mulligan Terrence R. Ozan John P. Ringenbach Meredith S. Weil Ashley H. Williams DIRECTOR EMERITUS Paul W. Stefanik MANAGEMENT TEAM Marc A. Stefanski Chairman and Chief Executive Officer Kathleen (Kitty) Danckers Chief Risk Officer Russell C. Holmes Chief Retail Officer Paul J. Huml Chief Financial Officer Susanne N. Miller Chief Accounting Officer Anna Maria P. Motta Chief Information Officer Andrew J. Rubino Chief Marketing Officer Meredith S. Weil Chief Operating Officer Cathy W. Zbanek Chief Synergy Officer INVESTOR RELATIONS Paul J. Huml TFS Financial Corporation 7007 Broadway Avenue Cleveland, Ohio 44105-1441 (216) 429-5325 (877) 513-2318 toll free paul.huml@thirdfederal.com CORPORATE HEADQUARTERS Third Federal Savings and Loan Association 7007 Broadway Avenue Cleveland, Ohio 44105-1441 (216) 441-6000 (800) 844-7333 toll free www.thirdfederal.com CONTACT INFORMATION TFS Financial Corporation a letter from our 7007 Broadway Avenue Cleveland, Ohio 44105-1441 chairman and (877) 513-2318 toll free Strong ★ Stable ★ Safe chief executive officer TRANSFER AGENT Broadridge Corporate Issuer Solutions P.O. Box 1342 Brentwood, NY 11717 (888) 314-4808 toll free www.shareholder.broadridge.com/tfs LOVE • TRUST Dear Stockholders, RESPECT • EXCELLENCE Strong. Stable. Safe. During times of crisis and uncertainty, these words have always meant that customers and communities could count on Third Federal. This year was no different. Strong, stable and safe took on bigger meaning in the face of a global pandemic. As an essential business, even in the early days of COVID-19, our lobbies and our phone lines remained open to customers, and support programs were put in place to help customers in need. We continued to support our community partners as more services were needed and fewer resources were available. our customers had to. Through this year, the why we are in business didn’t change, but we knew the how we serve Our branch and customer care associates worked from different offices to spread out our workforce and keep our associates and customers safe. More than 500 associates, none of whom had worked remotely prior to 2020, supported our business from many locations, including their own kitchen tables. Driven by our dedicated associates, and one of the strongest refinance markets ever, we were able to originate the most loans in a single year since our Initial Public Offering, growing loan originations from $1.8 billion to more than $3 billion in 2020, despite the wider challenges of the world around us. Third Federal is built to last. We stand on the solid foundation of the values on which we were founded – love, trust, respect, and a commitment to excellence. It made Third Federal a success in 1938, as it still does today, more than 82 years later. Sincerely, Marc A. Stefanski Chairman and CEO Top left: In March, nearly half of Third Federal’s associates began working from home, as a part of the company’s pandemic response. Here, an associate picks up her laptop. Associates from many departments helped to configure, train, and support the new work environment. Top right: In June, associates received the first of several care packages from the company, thanking them for their hard work and dedication. Bottom left: An associate shows her work-from-home set up on Third Federal Pride Day, celebrated each month during the year. Bottom right: Associates working in all retail branches and at Third Federal’s Corporate Campus, were treated to Kona Ice trucks in late summer. THIRD FEDERAL MANAGEMENT TEAM BOARD OF DIRECTORS Marc A. Stefanski Chairman Ben S. Stefanski III Secretary Anthony J. Asher Martin J. Cohen Robert A. Fiala William C. Mulligan Terrence R. Ozan John P. Ringenbach Meredith S. Weil Ashley H. Williams DIRECTOR EMERITUS Paul W. Stefanik MANAGEMENT TEAM Marc A. Stefanski Chairman and Chief Executive Officer Kathleen (Kitty) Danckers Chief Risk Officer Russell C. Holmes Chief Retail Officer Paul J. Huml Chief Financial Officer Susanne N. Miller Chief Accounting Officer Anna Maria P. Motta Chief Information Officer Andrew J. Rubino Chief Marketing Officer Meredith S. Weil Chief Operating Officer Cathy W. Zbanek Chief Synergy Officer INVESTOR RELATIONS Paul J. Huml TFS Financial Corporation 7007 Broadway Avenue Cleveland, Ohio 44105-1441 (216) 429-5325 (877) 513-2318 toll free paul.huml@thirdfederal.com CORPORATE HEADQUARTERS Third Federal Savings and Loan Association 7007 Broadway Avenue Cleveland, Ohio 44105-1441 (216) 441-6000 (800) 844-7333 toll free www.thirdfederal.com CONTACT INFORMATION TFS Financial Corporation a letter from our 7007 Broadway Avenue Cleveland, Ohio 44105-1441 chairman and (877) 513-2318 toll free TRANSFER AGENT chief executive officer Broadridge Corporate Issuer Solutions P.O. Box 1342 Brentwood, NY 11717 Strong ★ Stable ★ Safe (888) 314-4808 toll free www.shareholder.broadridge.com/tfs LOVE • TRUST RESPECT • EXCELLENCE Dear Stockholders, Strong. Stable. Safe. During times of crisis and uncertainty, these words have always meant that customers and communities could count on Third Federal. This year was no different. Strong, stable and safe took on bigger meaning in the face of a global pandemic. As an essential business, even in the early days of COVID-19, our lobbies and our phone lines remained open to customers, and support programs were put in place to help customers in need. We continued to support our community partners as more services were needed and fewer resources were available. Through this year, the why we are in business didn’t change, but we knew the how we serve our customers had to. Our branch and Customer Care associates worked from different offices to spread out our workforce and keep our associates and customers safe. More than 500 associates, none of whom had worked remotely prior to 2020, supported our business from many locations, including their own kitchen tables. Driven by our dedicated associates, and one of the strongest refinance markets ever, we were able to originate the most loans in a single year since our Initial Public Offering, growing loan originations from $1.8 billion to more than $3 billion in 2020, despite the wider challenges of the world around us. Third Federal is built to last. We stand on the solid foundation of the values on which we were founded – love, trust, respect, and a commitment to excellence. It made Third Federal a success in 1938, as it still does today, more than 82 years later. Sincerely, Marc A. Stefanski Chairman and CEO Top left: In March, nearly half of Third Federal’s associates began working from home, as a part of the company’s pandemic response. Here, an associate picks up her laptop. Associates from many departments helped to configure, train, and support the new work environment. Top right: In June, associates received the first of several care packages from the company, thanking them for their hard work and dedication. Bottom left: An associate shows her work-from-home set up on Third Federal Pride Day, celebrated each month during the year. Bottom right: Associates working in all retail branches and at Third Federal’s Corporate Campus, were treated to Kona Ice trucks in late summer. (cid:55)(cid:43)(cid:44)(cid:54)(cid:3)(cid:51)(cid:36)(cid:42)(cid:40)(cid:3)(cid:44)(cid:49)(cid:55)(cid:40)(cid:49)(cid:55)(cid:44)(cid:50)(cid:49)(cid:36)(cid:47)(cid:47)(cid:60)(cid:3)(cid:47)(cid:40)(cid:41)(cid:55)(cid:3)(cid:37)(cid:47)(cid:36)(cid:49)(cid:46) (cid:55)(cid:43)(cid:44)(cid:54)(cid:3)(cid:51)(cid:36)(cid:42)(cid:40)(cid:3)(cid:44)(cid:49)(cid:55)(cid:40)(cid:49)(cid:55)(cid:44)(cid:50)(cid:49)(cid:36)(cid:47)(cid:47)(cid:60)(cid:3)(cid:47)(cid:40)(cid:41)(cid:55)(cid:3)(cid:37)(cid:47)(cid:36)(cid:49)(cid:46) THIRD FEDERAL MANAGEMENT TEAM BOARD OF DIRECTORS Marc A. Stefanski Chairman Ben S. Stefanski III Secretary Anthony J. Asher Martin J. Cohen Robert A. Fiala William C. Mulligan Terrence R. Ozan John P. Ringenbach Meredith S. Weil Ashley H. Williams DIRECTOR EMERITUS Paul W. Stefanik MANAGEMENT TEAM Marc A. Stefanski Chairman and Chief Executive Officer Kathleen (Kitty) Danckers Chief Risk Officer Russell C. Holmes Chief Retail Officer Paul J. Huml Chief Financial Officer Susanne N. Miller Chief Accounting Officer Anna Maria P. Motta Chief Information Officer Andrew J. Rubino Chief Marketing Officer Meredith S. Weil Chief Operating Officer Cathy W. Zbanek Chief Synergy Officer INVESTOR RELATIONS Paul J. Huml TFS Financial Corporation 7007 Broadway Avenue Cleveland, Ohio 44105-1441 (216) 429-5325 (877) 513-2318 toll free paul.huml@thirdfederal.com CORPORATE HEADQUARTERS Third Federal Savings and Loan Association 7007 Broadway Avenue Cleveland, Ohio 44105-1441 (216) 441-6000 (800) 844-7333 toll free www.thirdfederal.com CONTACT INFORMATION TFS Financial Corporation a letter from our 7007 Broadway Avenue Cleveland, Ohio 44105-1441 chairman and (877) 513-2318 toll free Strong ★ Stable ★ Safe chief executive officer TRANSFER AGENT Broadridge Corporate Issuer Solutions P.O. Box 1342 Brentwood, NY 11717 (888) 314-4808 toll free www.shareholder.broadridge.com/tfs LOVE • TRUST Dear Stockholders, RESPECT • EXCELLENCE Strong. Stable. Safe. During times of crisis and uncertainty, these words have always meant that customers and communities could count on Third Federal. This year was no different. Strong, stable and safe took on bigger meaning in the face of a global pandemic. As an essential business, even in the early days of COVID-19, our lobbies and our phone lines remained open to customers, and support programs were put in place to help customers in need. We continued to support our community partners as more services were needed and fewer resources were available. our customers had to. Through this year, the why we are in business didn’t change, but we knew the how we serve Our branch and customer care associates worked from different offices to spread out our workforce and keep our associates and customers safe. More than 500 associates, none of whom had worked remotely prior to 2020, supported our business from many locations, including their own kitchen tables. Driven by our dedicated associates, and one of the strongest refinance markets ever, we were able to originate the most loans in a single year since our Initial Public Offering, growing loan originations from $1.8 billion to more than $3 billion in 2020, despite the wider challenges of the world around us. Third Federal is built to last. We stand on the solid foundation of the values on which we were founded – love, trust, respect, and a commitment to excellence. It made Third Federal a success in 1938, as it still does today, more than 82 years later. Sincerely, Marc A. Stefanski Chairman and CEO Top left: In March, nearly half of Third Federal’s associates began working from home, as a part of the company’s pandemic response. Here, an associate picks up her laptop. Associates from many departments helped to configure, train, and support the new work environment. Top right: In June, associates received the first of several care packages from the company, thanking them for their hard work and dedication. Bottom left: An associate shows her work-from-home set up on Third Federal Pride Day, celebrated each month during the year. Bottom right: Associates working in all retail branches and at Third Federal’s Corporate Campus, were treated to Kona Ice trucks in late summer. THIRD FEDERAL MANAGEMENT TEAM BOARD OF DIRECTORS Marc A. Stefanski Chairman Ben S. Stefanski III Secretary Anthony J. Asher Martin J. Cohen Robert A. Fiala William C. Mulligan Terrence R. Ozan John P. Ringenbach Meredith S. Weil Ashley H. Williams DIRECTOR EMERITUS Paul W. Stefanik MANAGEMENT TEAM Marc A. Stefanski Chairman and Chief Executive Officer Kathleen (Kitty) Danckers Chief Risk Officer Russell C. Holmes Chief Retail Officer Paul J. Huml Chief Financial Officer Susanne N. Miller Chief Accounting Officer Anna Maria P. Motta Chief Information Officer Andrew J. Rubino Chief Marketing Officer Meredith S. Weil Chief Operating Officer Cathy W. Zbanek Chief Synergy Officer INVESTOR RELATIONS Paul J. Huml TFS Financial Corporation 7007 Broadway Avenue Cleveland, Ohio 44105-1441 (216) 429-5325 (877) 513-2318 toll free paul.huml@thirdfederal.com CORPORATE HEADQUARTERS Third Federal Savings and Loan Association 7007 Broadway Avenue Cleveland, Ohio 44105-1441 (216) 441-6000 (800) 844-7333 toll free www.thirdfederal.com CONTACT INFORMATION TFS Financial Corporation a letter from our 7007 Broadway Avenue Cleveland, Ohio 44105-1441 chairman and (877) 513-2318 toll free TRANSFER AGENT chief executive officer Broadridge Corporate Issuer Solutions P.O. Box 1342 Brentwood, NY 11717 Strong ★ Stable ★ Safe (888) 314-4808 toll free www.shareholder.broadridge.com/tfs LOVE • TRUST RESPECT • EXCELLENCE Dear Stockholders, Strong. Stable. Safe. During times of crisis and uncertainty, these words have always meant that customers and communities could count on Third Federal. This year was no different. Strong, stable and safe took on bigger meaning in the face of a global pandemic. As an essential business, even in the early days of COVID-19, our lobbies and our phone lines remained open to customers, and support programs were put in place to help customers in need. We continued to support our community partners as more services were needed and fewer resources were available. Through this year, the why we are in business didn’t change, but we knew the how we serve our customers had to. Our branch and customer care associates worked from different offices to spread out our workforce and keep our associates and customers safe. More than 500 associates, none of whom had worked remotely prior to 2020, supported our business from many locations, including their own kitchen tables. Driven by our dedicated associates, and one of the strongest refinance markets ever, we were able to originate the most loans in a single year since our Initial Public Offering, growing loan originations from $1.8 billion to more than $3 billion in 2020, despite the wider challenges of the world around us. Third Federal is built to last. We stand on the solid foundation of the values on which we were founded – love, trust, respect, and a commitment to excellence. It made Third Federal a success in 1938, as it still does today, more than 82 years later. Sincerely, Marc A. Stefanski Chairman and CEO Top left: In March, nearly half of Third Federal’s associates began working from home, as a part of the company’s pandemic response. Here, an associate picks up her laptop. Associates from many departments helped to configure, train, and support the new work environment. Top right: In June, associates received the first of several care packages from the company, thanking them for their hard work and dedication. Bottom left: An associate shows her work-from-home set up on Third Federal Pride Day, celebrated each month during the year. Bottom right: Associates working in all retail branches and at Third Federal’s Corporate Campus, were treated to Kona Ice trucks in late summer. Strong ★ Stable ★ Safe 2020 Annual Report 

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