000138166809/302021Q3FALSE416,715447,38415236,0780.010.01100,000,000100,000,000—0000.010.01700,000,000700,000,000332,318,750332,318,750280,623,687280,150,00651,695,06352,168,744—0.84—0.2820,5000.83—0.2812 months, 6 days2,11553342,4761313582521,87974231,51451000013816682020-10-012021-06-30xbrli:shares00013816682021-08-04iso4217:USD00013816682021-06-3000013816682020-09-300001381668us-gaap:MortgageReceivablesMember2021-06-300001381668us-gaap:MortgageReceivablesMember2020-09-300001381668tfsl:OtherLoansMember2021-06-300001381668tfsl:OtherLoansMember2020-09-30iso4217:USDxbrli:shares00013816682021-04-012021-06-3000013816682020-04-012020-06-3000013816682019-10-012020-06-300001381668us-gaap:BankingMember2021-04-012021-06-300001381668us-gaap:BankingMember2020-04-012020-06-300001381668us-gaap:BankingMember2020-10-012021-06-300001381668us-gaap:BankingMember2019-10-012020-06-300001381668us-gaap:CommonStockMember2020-03-310001381668us-gaap:AdditionalPaidInCapitalMember2020-03-310001381668us-gaap:TreasuryStockMember2020-03-310001381668us-gaap:DeferredCompensationShareBasedPaymentsMember2020-03-310001381668us-gaap:RetainedEarningsMember2020-03-310001381668us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-03-3100013816682020-03-310001381668us-gaap:RetainedEarningsMember2020-04-012020-06-300001381668us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-04-012020-06-300001381668us-gaap:AdditionalPaidInCapitalMember2020-04-012020-06-300001381668us-gaap:DeferredCompensationShareBasedPaymentsMember2020-04-012020-06-300001381668us-gaap:TreasuryStockMember2020-04-012020-06-300001381668us-gaap:CommonStockMember2020-06-300001381668us-gaap:AdditionalPaidInCapitalMember2020-06-300001381668us-gaap:TreasuryStockMember2020-06-300001381668us-gaap:DeferredCompensationShareBasedPaymentsMember2020-06-300001381668us-gaap:RetainedEarningsMember2020-06-300001381668us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-06-3000013816682020-06-300001381668us-gaap:CommonStockMember2021-03-310001381668us-gaap:AdditionalPaidInCapitalMember2021-03-310001381668us-gaap:TreasuryStockMember2021-03-310001381668us-gaap:DeferredCompensationShareBasedPaymentsMember2021-03-310001381668us-gaap:RetainedEarningsMember2021-03-310001381668us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-3100013816682021-03-310001381668us-gaap:RetainedEarningsMember2021-04-012021-06-300001381668us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-04-012021-06-300001381668us-gaap:AdditionalPaidInCapitalMember2021-04-012021-06-300001381668us-gaap:DeferredCompensationShareBasedPaymentsMember2021-04-012021-06-300001381668us-gaap:TreasuryStockMember2021-04-012021-06-300001381668us-gaap:CommonStockMember2021-06-300001381668us-gaap:AdditionalPaidInCapitalMember2021-06-300001381668us-gaap:TreasuryStockMember2021-06-300001381668us-gaap:DeferredCompensationShareBasedPaymentsMember2021-06-300001381668us-gaap:RetainedEarningsMember2021-06-300001381668us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-300001381668us-gaap:CommonStockMember2019-09-300001381668us-gaap:AdditionalPaidInCapitalMember2019-09-300001381668us-gaap:TreasuryStockMember2019-09-300001381668us-gaap:DeferredCompensationShareBasedPaymentsMember2019-09-300001381668us-gaap:RetainedEarningsMember2019-09-300001381668us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-09-3000013816682019-09-300001381668us-gaap:RetainedEarningsMember2019-10-012020-06-300001381668us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-10-012020-06-300001381668us-gaap:AdditionalPaidInCapitalMember2019-10-012020-06-300001381668us-gaap:DeferredCompensationShareBasedPaymentsMember2019-10-012020-06-300001381668us-gaap:TreasuryStockMember2019-10-012020-06-300001381668us-gaap:CommonStockMember2020-09-300001381668us-gaap:AdditionalPaidInCapitalMember2020-09-300001381668us-gaap:TreasuryStockMember2020-09-300001381668us-gaap:DeferredCompensationShareBasedPaymentsMember2020-09-300001381668us-gaap:RetainedEarningsMember2020-09-300001381668us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-09-300001381668srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:RetainedEarningsMemberus-gaap:AccountingStandardsUpdate201613Member2020-09-300001381668srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:AccountingStandardsUpdate201613Member2020-09-300001381668us-gaap:RetainedEarningsMember2020-10-012021-06-300001381668us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-10-012021-06-300001381668us-gaap:AdditionalPaidInCapitalMember2020-10-012021-06-300001381668us-gaap:DeferredCompensationShareBasedPaymentsMember2020-10-012021-06-300001381668us-gaap:TreasuryStockMember2020-10-012021-06-300001381668us-gaap:DepositsMember2020-10-012021-06-300001381668us-gaap:DepositsMember2019-10-012020-06-300001381668us-gaap:DebtMember2020-10-012021-06-300001381668us-gaap:DebtMember2019-10-012020-06-30xbrli:pure0001381668us-gaap:CommonStockMembertfsl:ThirdFederalSavingsMHCMember2021-06-300001381668us-gaap:EmployeeStockOptionMember2021-04-012021-06-300001381668us-gaap:EmployeeStockOptionMember2020-04-012020-06-300001381668us-gaap:EmployeeStockOptionMember2020-10-012021-06-300001381668us-gaap:EmployeeStockOptionMember2019-10-012020-06-300001381668tfsl:RestrictedAndPerformanceStockUnitsMember2021-04-012021-06-300001381668tfsl:RestrictedAndPerformanceStockUnitsMember2020-04-012020-06-300001381668tfsl:RestrictedAndPerformanceStockUnitsMember2020-10-012021-06-300001381668tfsl:RestrictedAndPerformanceStockUnitsMember2019-10-012020-06-300001381668us-gaap:SecuritiesInvestmentMember2021-06-300001381668us-gaap:SecuritiesInvestmentMember2020-09-300001381668us-gaap:CollateralizedMortgageObligationsMember2021-06-300001381668us-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2021-06-300001381668us-gaap:CollateralizedMortgageObligationsMember2020-09-300001381668us-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2020-09-300001381668us-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMember2021-06-300001381668tfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMember2021-06-300001381668tfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMember2020-09-300001381668us-gaap:ResidentialRealEstateMembertfsl:ResidentialHomeTodayMember2021-06-300001381668us-gaap:ResidentialRealEstateMembertfsl:ResidentialHomeTodayMember2020-09-300001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:ResidentialRealEstateMember2021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:ResidentialRealEstateMember2020-09-300001381668us-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMember2021-06-300001381668us-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMember2020-09-300001381668us-gaap:ResidentialRealEstateMember2021-06-300001381668us-gaap:ResidentialRealEstateMember2020-09-300001381668us-gaap:LoansMember2021-06-300001381668us-gaap:LoansMember2020-09-300001381668stpr:OHtfsl:ResidentialCoreHomeTodayandConstructionLoansMember2021-06-300001381668stpr:OHtfsl:ResidentialCoreHomeTodayandConstructionLoansMember2020-09-300001381668stpr:FLtfsl:ResidentialCoreHomeTodayandConstructionLoansMember2021-06-300001381668stpr:FLtfsl:ResidentialCoreHomeTodayandConstructionLoansMember2020-09-300001381668tfsl:EquityLoansAndLinesOfCreditMemberstpr:OH2021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMemberstpr:OH2020-09-300001381668tfsl:EquityLoansAndLinesOfCreditMemberstpr:FL2021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMemberstpr:FL2020-09-300001381668tfsl:EquityLoansAndLinesOfCreditMemberstpr:CA2021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMemberstpr:CA2020-09-300001381668tfsl:ResidentialNonHomeTodayMemberus-gaap:AdjustableRateResidentialMortgageMember2021-06-300001381668tfsl:ResidentialNonHomeTodayMemberus-gaap:AdjustableRateResidentialMortgageMember2020-09-300001381668tfsl:HomeTodayLoansOriginatedAfterSeptember2016Member2021-06-300001381668tfsl:ResidentialHomeTodayMember2021-06-300001381668tfsl:ResidentialHomeTodayMember2020-09-300001381668tfsl:PMICProvidedPrivateMortgageInsuranceMember2020-10-012021-06-300001381668tfsl:PMICProvidedPrivateMortgageInsuranceMember2021-06-300001381668tfsl:PMICProvidedPrivateMortgageInsuranceMember2020-09-300001381668tfsl:PMICProvidedPrivateMortgageInsuranceMemberus-gaap:FinancialAssetNotPastDueMember2021-06-300001381668tfsl:PMICProvidedPrivateMortgageInsuranceMemberus-gaap:FinancialAssetNotPastDueMember2020-09-300001381668tfsl:MGICProvidedPrivateMortgageInsuranceMember2021-06-300001381668tfsl:MGICProvidedPrivateMortgageInsuranceMember2020-09-300001381668tfsl:MGICProvidedPrivateMortgageInsuranceMemberus-gaap:FinancialAssetNotPastDueMember2021-06-300001381668tfsl:MGICProvidedPrivateMortgageInsuranceMemberus-gaap:FinancialAssetNotPastDueMember2020-09-30tfsl:loans0001381668tfsl:LoanSalesMember2021-04-012021-06-300001381668tfsl:LoanSalesMember2020-10-012021-06-300001381668tfsl:LoanSalesInContractsPendingSettlementMember2020-10-012021-06-300001381668tfsl:LoanSalesMember2020-04-012020-06-300001381668tfsl:LoanSalesMember2019-10-012020-06-300001381668tfsl:LoanSalesInContractsPendingSettlementMember2019-10-012020-06-300001381668srt:MaximumMemberus-gaap:ConstructionLoansMembertfsl:LTV85PercentPriorToMarch262020Member2021-06-300001381668tfsl:ActiveForbearancePlansMemberus-gaap:ResidentialRealEstateMember2021-06-300001381668tfsl:ActiveForbearancePlansMemberus-gaap:ResidentialRealEstateMember2020-09-300001381668tfsl:ActiveForbearancePlansMembertfsl:TroubledDebtRestructuringMember2021-06-300001381668tfsl:ActiveForbearancePlansMembertfsl:TroubledDebtRestructuringMember2020-09-300001381668tfsl:ActiveForbearancePlansMemberstpr:OHtfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMember2021-06-300001381668tfsl:ActiveForbearancePlansMemberstpr:OHtfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMember2020-09-300001381668tfsl:ActiveForbearancePlansMembertfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMemberstpr:FL2021-06-300001381668tfsl:ActiveForbearancePlansMembertfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMemberstpr:FL2020-09-300001381668tfsl:ActiveForbearancePlansMembertfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMembertfsl:OtherStatesMember2021-06-300001381668tfsl:ActiveForbearancePlansMembertfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMembertfsl:OtherStatesMember2020-09-300001381668tfsl:ActiveForbearancePlansMembertfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMember2021-06-300001381668tfsl:ActiveForbearancePlansMembertfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMember2020-09-300001381668tfsl:ActiveForbearancePlansMemberus-gaap:ResidentialRealEstateMembertfsl:ResidentialHomeTodayMember2021-06-300001381668tfsl:ActiveForbearancePlansMemberus-gaap:ResidentialRealEstateMembertfsl:ResidentialHomeTodayMember2020-09-300001381668tfsl:EquityLoansAndLinesOfCreditMembertfsl:ActiveForbearancePlansMemberstpr:OHus-gaap:ResidentialRealEstateMember2021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMembertfsl:ActiveForbearancePlansMemberstpr:OHus-gaap:ResidentialRealEstateMember2020-09-300001381668tfsl:EquityLoansAndLinesOfCreditMembertfsl:ActiveForbearancePlansMemberus-gaap:ResidentialRealEstateMemberstpr:FL2021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMembertfsl:ActiveForbearancePlansMemberus-gaap:ResidentialRealEstateMemberstpr:FL2020-09-300001381668tfsl:EquityLoansAndLinesOfCreditMemberstpr:CAtfsl:ActiveForbearancePlansMemberus-gaap:ResidentialRealEstateMember2021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMemberstpr:CAtfsl:ActiveForbearancePlansMemberus-gaap:ResidentialRealEstateMember2020-09-300001381668tfsl:EquityLoansAndLinesOfCreditMembertfsl:ActiveForbearancePlansMemberus-gaap:ResidentialRealEstateMembertfsl:OtherStatesMember2021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMembertfsl:ActiveForbearancePlansMemberus-gaap:ResidentialRealEstateMembertfsl:OtherStatesMember2020-09-300001381668tfsl:EquityLoansAndLinesOfCreditMembertfsl:ActiveForbearancePlansMemberus-gaap:ResidentialRealEstateMember2021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMembertfsl:ActiveForbearancePlansMemberus-gaap:ResidentialRealEstateMember2020-09-300001381668tfsl:ActiveForbearancePlansMembertfsl:PaymentDeferralEndingOneMonthFromReportDateMember2021-06-300001381668tfsl:PaymentDeferralEndingTwoMonthsFromReportDateMembertfsl:ActiveForbearancePlansMember2021-06-300001381668tfsl:ActiveForbearancePlansMembertfsl:PaymentDeferralEndingThreeMonthsFromReportDateMember2021-06-300001381668tfsl:ActiveForbearancePlansMembertfsl:PaymentDeferralEndingFourMonthsFromReportDateMember2021-06-300001381668tfsl:ActiveForbearancePlansMembertfsl:PaymentDeferralEndingFiveMonthsFromReportDateMember2021-06-300001381668tfsl:ActiveForbearancePlansMembertfsl:PaymentDeferralEndingSixMonthsFromReportDateMember2021-06-300001381668tfsl:ActiveForbearancePlansMember2021-06-300001381668us-gaap:ResidentialMortgageMemberus-gaap:ResidentialRealEstateMembertfsl:ShortTermRepaymentPlansMember2021-06-300001381668us-gaap:ResidentialMortgageMemberus-gaap:ResidentialRealEstateMembertfsl:ShortTermRepaymentPlansMember2020-09-300001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:ResidentialRealEstateMembertfsl:ShortTermRepaymentPlansMember2021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:ResidentialRealEstateMembertfsl:ShortTermRepaymentPlansMember2020-09-300001381668us-gaap:ResidentialMortgageMemberus-gaap:ResidentialRealEstateMembertfsl:ModificationNonTDRMember2021-06-300001381668us-gaap:ResidentialMortgageMemberus-gaap:ResidentialRealEstateMembertfsl:ModificationNonTDRMember2020-09-300001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:ResidentialRealEstateMembertfsl:ModificationNonTDRMember2021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:ResidentialRealEstateMembertfsl:ModificationNonTDRMember2020-09-300001381668tfsl:ModificationsEligbleForTDRReliefMembertfsl:ActiveForbearancePlansMember2021-06-300001381668tfsl:ModificationsEligbleForTDRReliefMembertfsl:ActiveForbearancePlansMember2020-09-300001381668tfsl:ActiveForbearancePlansMembertfsl:RequireAdditionalModificationsMember2021-06-300001381668tfsl:ActiveForbearancePlansMembertfsl:RequireAdditionalModificationsMember2020-09-300001381668tfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-06-300001381668tfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-06-300001381668us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembertfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMember2021-06-300001381668tfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancialAssetPastDueMember2021-06-300001381668tfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancialAssetNotPastDueMember2021-06-300001381668us-gaap:ResidentialRealEstateMemberus-gaap:FinancingReceivables30To59DaysPastDueMembertfsl:ResidentialHomeTodayMember2021-06-300001381668us-gaap:ResidentialRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMembertfsl:ResidentialHomeTodayMember2021-06-300001381668us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ResidentialRealEstateMembertfsl:ResidentialHomeTodayMember2021-06-300001381668us-gaap:ResidentialRealEstateMemberus-gaap:FinancialAssetPastDueMembertfsl:ResidentialHomeTodayMember2021-06-300001381668us-gaap:ResidentialRealEstateMemberus-gaap:FinancialAssetNotPastDueMembertfsl:ResidentialHomeTodayMember2021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-06-300001381668us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembertfsl:EquityLoansAndLinesOfCreditMemberus-gaap:ResidentialRealEstateMember2021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancialAssetPastDueMember2021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancialAssetNotPastDueMember2021-06-300001381668us-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-06-300001381668us-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-06-300001381668us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMember2021-06-300001381668us-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancialAssetPastDueMember2021-06-300001381668us-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancialAssetNotPastDueMember2021-06-300001381668us-gaap:ResidentialRealEstateMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-06-300001381668us-gaap:ResidentialRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-06-300001381668us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ResidentialRealEstateMember2021-06-300001381668us-gaap:ResidentialRealEstateMemberus-gaap:FinancialAssetPastDueMember2021-06-300001381668us-gaap:ResidentialRealEstateMemberus-gaap:FinancialAssetNotPastDueMember2021-06-300001381668tfsl:OtherLoansMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-06-300001381668tfsl:OtherLoansMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-06-300001381668us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembertfsl:OtherLoansMember2021-06-300001381668tfsl:OtherLoansMemberus-gaap:FinancialAssetPastDueMember2021-06-300001381668tfsl:OtherLoansMemberus-gaap:FinancialAssetNotPastDueMember2021-06-300001381668us-gaap:FinancingReceivables30To59DaysPastDueMember2021-06-300001381668us-gaap:FinancingReceivables60To89DaysPastDueMember2021-06-300001381668us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-06-300001381668us-gaap:FinancialAssetPastDueMember2021-06-300001381668us-gaap:FinancialAssetNotPastDueMember2021-06-300001381668tfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-09-300001381668tfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-09-300001381668us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembertfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMember2020-09-300001381668tfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancialAssetPastDueMember2020-09-300001381668tfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancialAssetNotPastDueMember2020-09-300001381668us-gaap:ResidentialRealEstateMemberus-gaap:FinancingReceivables30To59DaysPastDueMembertfsl:ResidentialHomeTodayMember2020-09-300001381668us-gaap:ResidentialRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMembertfsl:ResidentialHomeTodayMember2020-09-300001381668us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ResidentialRealEstateMembertfsl:ResidentialHomeTodayMember2020-09-300001381668us-gaap:ResidentialRealEstateMemberus-gaap:FinancialAssetPastDueMembertfsl:ResidentialHomeTodayMember2020-09-300001381668us-gaap:ResidentialRealEstateMemberus-gaap:FinancialAssetNotPastDueMembertfsl:ResidentialHomeTodayMember2020-09-300001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-09-300001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-09-300001381668us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembertfsl:EquityLoansAndLinesOfCreditMemberus-gaap:ResidentialRealEstateMember2020-09-300001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancialAssetPastDueMember2020-09-300001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancialAssetNotPastDueMember2020-09-300001381668us-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-09-300001381668us-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-09-300001381668us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMember2020-09-300001381668us-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancialAssetPastDueMember2020-09-300001381668us-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancialAssetNotPastDueMember2020-09-300001381668us-gaap:ResidentialRealEstateMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-09-300001381668us-gaap:ResidentialRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-09-300001381668us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ResidentialRealEstateMember2020-09-300001381668us-gaap:ResidentialRealEstateMemberus-gaap:FinancialAssetPastDueMember2020-09-300001381668us-gaap:ResidentialRealEstateMemberus-gaap:FinancialAssetNotPastDueMember2020-09-300001381668tfsl:OtherLoansMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-09-300001381668tfsl:OtherLoansMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-09-300001381668us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembertfsl:OtherLoansMember2020-09-300001381668tfsl:OtherLoansMemberus-gaap:FinancialAssetPastDueMember2020-09-300001381668tfsl:OtherLoansMemberus-gaap:FinancialAssetNotPastDueMember2020-09-300001381668us-gaap:FinancingReceivables30To59DaysPastDueMember2020-09-300001381668us-gaap:FinancingReceivables60To89DaysPastDueMember2020-09-300001381668us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-300001381668us-gaap:FinancialAssetPastDueMember2020-09-300001381668us-gaap:FinancialAssetNotPastDueMember2020-09-300001381668tfsl:COVID19ForbearanceShortTermRepaymentMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-06-300001381668tfsl:COVID19ForbearanceShortTermRepaymentMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-06-300001381668us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembertfsl:COVID19ForbearanceShortTermRepaymentMemberus-gaap:ResidentialRealEstateMember2021-06-300001381668tfsl:COVID19ForbearanceShortTermRepaymentMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-09-300001381668tfsl:COVID19ForbearanceShortTermRepaymentMemberus-gaap:ResidentialRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-09-300001381668us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembertfsl:COVID19ForbearanceShortTermRepaymentMemberus-gaap:ResidentialRealEstateMember2020-09-300001381668us-gaap:PerformingFinancingReceivableMember2021-06-300001381668us-gaap:PerformingFinancingReceivableMember2020-09-300001381668tfsl:PerformingFinancingReceivableChapter7BankruptcyMember2021-06-300001381668tfsl:PerformingFinancingReceivableChapter7BankruptcyMember2020-09-300001381668tfsl:ActiveForbearancePlansUnpaidInterestMember2021-06-300001381668tfsl:ActiveForbearancePlansUnpaidInterestMember2020-09-300001381668us-gaap:PerformingFinancingReceivableMembertfsl:TroubledDebtRestructuringMembertfsl:PresentValueOfCashFlowsMember2021-06-300001381668us-gaap:PerformingFinancingReceivableMembertfsl:TroubledDebtRestructuringMembertfsl:PresentValueOfCashFlowsMember2020-09-300001381668tfsl:FurtherDeteriorationInFairValueOfCollateralMember2021-06-300001381668tfsl:FurtherDeteriorationInFairValueOfCollateralMember2020-09-300001381668tfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMember2021-03-310001381668tfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMember2021-04-012021-06-300001381668us-gaap:ResidentialRealEstateMembertfsl:ResidentialHomeTodayMember2021-03-310001381668us-gaap:ResidentialRealEstateMembertfsl:ResidentialHomeTodayMember2021-04-012021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:ResidentialRealEstateMember2021-03-310001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:ResidentialRealEstateMember2021-04-012021-06-300001381668us-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMember2021-03-310001381668us-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMember2021-04-012021-06-300001381668us-gaap:ResidentialRealEstateMember2021-03-310001381668us-gaap:ResidentialRealEstateMember2021-04-012021-06-300001381668us-gaap:UnfundedLoanCommitmentMember2021-03-310001381668us-gaap:UnfundedLoanCommitmentMember2021-04-012021-06-300001381668us-gaap:UnfundedLoanCommitmentMember2021-06-300001381668tfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMember2020-03-310001381668tfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMember2020-04-012020-06-300001381668tfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMember2020-06-300001381668us-gaap:ResidentialRealEstateMembertfsl:ResidentialHomeTodayMember2020-03-310001381668us-gaap:ResidentialRealEstateMembertfsl:ResidentialHomeTodayMember2020-04-012020-06-300001381668us-gaap:ResidentialRealEstateMembertfsl:ResidentialHomeTodayMember2020-06-300001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:ResidentialRealEstateMember2020-03-310001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:ResidentialRealEstateMember2020-04-012020-06-300001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:ResidentialRealEstateMember2020-06-300001381668us-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMember2020-03-310001381668us-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMember2020-04-012020-06-300001381668us-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMember2020-06-300001381668us-gaap:ResidentialRealEstateMember2020-03-310001381668us-gaap:ResidentialRealEstateMember2020-04-012020-06-300001381668us-gaap:ResidentialRealEstateMember2020-06-300001381668tfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:AccountingStandardsUpdate201613Member2020-09-300001381668tfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMember2020-10-012021-06-300001381668us-gaap:ResidentialRealEstateMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:AccountingStandardsUpdate201613Membertfsl:ResidentialHomeTodayMember2020-09-300001381668us-gaap:ResidentialRealEstateMembertfsl:ResidentialHomeTodayMember2020-10-012021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:ResidentialRealEstateMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:AccountingStandardsUpdate201613Member2020-09-300001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:ResidentialRealEstateMember2020-10-012021-06-300001381668us-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:AccountingStandardsUpdate201613Member2020-09-300001381668us-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMember2020-10-012021-06-300001381668us-gaap:ResidentialRealEstateMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:AccountingStandardsUpdate201613Member2020-09-300001381668us-gaap:ResidentialRealEstateMember2020-10-012021-06-300001381668us-gaap:UnfundedLoanCommitmentMember2020-09-300001381668us-gaap:UnfundedLoanCommitmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:AccountingStandardsUpdate201613Member2020-09-300001381668us-gaap:UnfundedLoanCommitmentMember2020-10-012021-06-300001381668us-gaap:AccountingStandardsUpdate201613Member2020-09-300001381668tfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMember2019-09-300001381668tfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMember2019-10-012020-06-300001381668us-gaap:ResidentialRealEstateMembertfsl:ResidentialHomeTodayMember2019-09-300001381668us-gaap:ResidentialRealEstateMembertfsl:ResidentialHomeTodayMember2019-10-012020-06-300001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:ResidentialRealEstateMember2019-09-300001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:ResidentialRealEstateMember2019-10-012020-06-300001381668us-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMember2019-09-300001381668us-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMember2019-10-012020-06-300001381668us-gaap:ResidentialRealEstateMember2019-09-300001381668us-gaap:ResidentialRealEstateMember2019-10-012020-06-300001381668us-gaap:ResidentialRealEstateMemberus-gaap:SpecialMentionMembertfsl:ResidentialHomeTodayMember2021-06-300001381668us-gaap:SubstandardMemberus-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMember2021-06-300001381668us-gaap:PassMembertfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMember2021-06-300001381668tfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMemberus-gaap:SpecialMentionMember2021-06-300001381668us-gaap:SubstandardMembertfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMember2021-06-300001381668us-gaap:PassMemberus-gaap:ResidentialRealEstateMembertfsl:ResidentialHomeTodayMember2021-06-300001381668us-gaap:SubstandardMemberus-gaap:ResidentialRealEstateMembertfsl:ResidentialHomeTodayMember2021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:PassMemberus-gaap:ResidentialRealEstateMember2021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:ResidentialRealEstateMemberus-gaap:SpecialMentionMember2021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:SubstandardMemberus-gaap:ResidentialRealEstateMember2021-06-300001381668us-gaap:PassMemberus-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMember2021-06-300001381668us-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMemberus-gaap:SpecialMentionMember2021-06-300001381668us-gaap:PassMemberus-gaap:ResidentialRealEstateMember2021-06-300001381668us-gaap:ResidentialRealEstateMemberus-gaap:SpecialMentionMember2021-06-300001381668us-gaap:SubstandardMemberus-gaap:ResidentialRealEstateMember2021-06-300001381668us-gaap:PassMembertfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMember2020-09-300001381668tfsl:PerformingAtTimeOfPurchaseMembertfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMemberus-gaap:SpecialMentionMember2020-09-300001381668us-gaap:SubstandardMembertfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMember2020-09-300001381668us-gaap:UnlikelyToBeCollectedFinancingReceivableMembertfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMember2020-09-300001381668us-gaap:PassMemberus-gaap:ResidentialRealEstateMembertfsl:ResidentialHomeTodayMember2020-09-300001381668us-gaap:ResidentialRealEstateMemberus-gaap:SpecialMentionMembertfsl:ResidentialHomeTodayMember2020-09-300001381668us-gaap:SubstandardMemberus-gaap:ResidentialRealEstateMembertfsl:ResidentialHomeTodayMember2020-09-300001381668us-gaap:UnlikelyToBeCollectedFinancingReceivableMemberus-gaap:ResidentialRealEstateMembertfsl:ResidentialHomeTodayMember2020-09-300001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:PassMemberus-gaap:ResidentialRealEstateMember2020-09-300001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:ResidentialRealEstateMemberus-gaap:SpecialMentionMember2020-09-300001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:SubstandardMemberus-gaap:ResidentialRealEstateMember2020-09-300001381668tfsl:EquityLoansAndLinesOfCreditMemberus-gaap:UnlikelyToBeCollectedFinancingReceivableMemberus-gaap:ResidentialRealEstateMember2020-09-300001381668us-gaap:PassMemberus-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMember2020-09-300001381668us-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMemberus-gaap:SpecialMentionMember2020-09-300001381668us-gaap:SubstandardMemberus-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMember2020-09-300001381668us-gaap:UnlikelyToBeCollectedFinancingReceivableMemberus-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMember2020-09-300001381668us-gaap:PassMemberus-gaap:ResidentialRealEstateMember2020-09-300001381668us-gaap:ResidentialRealEstateMemberus-gaap:SpecialMentionMember2020-09-300001381668us-gaap:SubstandardMemberus-gaap:ResidentialRealEstateMember2020-09-300001381668us-gaap:UnlikelyToBeCollectedFinancingReceivableMemberus-gaap:ResidentialRealEstateMember2020-09-300001381668us-gaap:PerformingFinancingReceivableMemberus-gaap:PassMembertfsl:TroubledDebtRestructuringMember2021-06-300001381668us-gaap:PerformingFinancingReceivableMemberus-gaap:PassMembertfsl:TroubledDebtRestructuringMember2020-09-300001381668tfsl:ResidentialMortgageLoansAndHomeEquityLinesOfCreditMemberus-gaap:SpecialMentionMember2021-06-300001381668tfsl:ResidentialMortgageLoansAndHomeEquityLinesOfCreditMemberus-gaap:SpecialMentionMember2020-09-300001381668tfsl:PerformingAtTimeOfPurchaseMembertfsl:ResidentialNonHomeTodayMemberus-gaap:ResidentialRealEstateMemberus-gaap:SpecialMentionMember2021-06-300001381668us-gaap:SubstandardMembertfsl:ActiveForbearancePlansMembertfsl:ResidentialMortgageLoansAndHomeEquityLinesOfCreditMember2021-06-300001381668tfsl:OtherLoansMemberus-gaap:NonperformingFinancingReceivableMember2021-06-300001381668tfsl:OtherLoansMemberus-gaap:NonperformingFinancingReceivableMember2020-09-300001381668tfsl:InitialRestructuringMembertfsl:ResidentialNonHomeTodayMember2021-06-300001381668tfsl:MultipleRestructuringsMembertfsl:ResidentialNonHomeTodayMember2021-06-300001381668tfsl:Chapter7BankruptcyDischargedMembertfsl:ResidentialNonHomeTodayMember2021-06-300001381668tfsl:ResidentialNonHomeTodayMember2021-06-300001381668tfsl:InitialRestructuringMembertfsl:ResidentialHomeTodayMember2021-06-300001381668tfsl:MultipleRestructuringsMembertfsl:ResidentialHomeTodayMember2021-06-300001381668tfsl:Chapter7BankruptcyDischargedMembertfsl:ResidentialHomeTodayMember2021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMembertfsl:InitialRestructuringMember2021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMembertfsl:MultipleRestructuringsMember2021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMembertfsl:Chapter7BankruptcyDischargedMember2021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMember2021-06-300001381668tfsl:InitialRestructuringMember2021-06-300001381668tfsl:MultipleRestructuringsMember2021-06-300001381668tfsl:Chapter7BankruptcyDischargedMember2021-06-300001381668tfsl:InitialRestructuringMembertfsl:ResidentialNonHomeTodayMember2020-09-300001381668tfsl:MultipleRestructuringsMembertfsl:ResidentialNonHomeTodayMember2020-09-300001381668tfsl:Chapter7BankruptcyDischargedMembertfsl:ResidentialNonHomeTodayMember2020-09-300001381668tfsl:ResidentialNonHomeTodayMember2020-09-300001381668tfsl:InitialRestructuringMembertfsl:ResidentialHomeTodayMember2020-09-300001381668tfsl:MultipleRestructuringsMembertfsl:ResidentialHomeTodayMember2020-09-300001381668tfsl:Chapter7BankruptcyDischargedMembertfsl:ResidentialHomeTodayMember2020-09-300001381668tfsl:EquityLoansAndLinesOfCreditMembertfsl:InitialRestructuringMember2020-09-300001381668tfsl:EquityLoansAndLinesOfCreditMembertfsl:MultipleRestructuringsMember2020-09-300001381668tfsl:EquityLoansAndLinesOfCreditMembertfsl:Chapter7BankruptcyDischargedMember2020-09-300001381668tfsl:EquityLoansAndLinesOfCreditMember2020-09-300001381668tfsl:InitialRestructuringMember2020-09-300001381668tfsl:MultipleRestructuringsMember2020-09-300001381668tfsl:Chapter7BankruptcyDischargedMember2020-09-300001381668tfsl:InitialRestructuringMembertfsl:ResidentialNonHomeTodayMember2021-04-012021-06-300001381668tfsl:MultipleRestructuringsMembertfsl:ResidentialNonHomeTodayMember2021-04-012021-06-300001381668tfsl:Chapter7BankruptcyDischargedMembertfsl:ResidentialNonHomeTodayMember2021-04-012021-06-300001381668tfsl:ResidentialNonHomeTodayMember2021-04-012021-06-300001381668tfsl:InitialRestructuringMembertfsl:ResidentialHomeTodayMember2021-04-012021-06-300001381668tfsl:MultipleRestructuringsMembertfsl:ResidentialHomeTodayMember2021-04-012021-06-300001381668tfsl:Chapter7BankruptcyDischargedMembertfsl:ResidentialHomeTodayMember2021-04-012021-06-300001381668tfsl:ResidentialHomeTodayMember2021-04-012021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMembertfsl:InitialRestructuringMember2021-04-012021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMembertfsl:MultipleRestructuringsMember2021-04-012021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMembertfsl:Chapter7BankruptcyDischargedMember2021-04-012021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMember2021-04-012021-06-300001381668tfsl:InitialRestructuringMember2021-04-012021-06-300001381668tfsl:MultipleRestructuringsMember2021-04-012021-06-300001381668tfsl:Chapter7BankruptcyDischargedMember2021-04-012021-06-300001381668tfsl:InitialRestructuringMembertfsl:ResidentialNonHomeTodayMember2020-04-012020-06-300001381668tfsl:MultipleRestructuringsMembertfsl:ResidentialNonHomeTodayMember2020-04-012020-06-300001381668tfsl:Chapter7BankruptcyDischargedMembertfsl:ResidentialNonHomeTodayMember2020-04-012020-06-300001381668tfsl:ResidentialNonHomeTodayMember2020-04-012020-06-300001381668tfsl:InitialRestructuringMembertfsl:ResidentialHomeTodayMember2020-04-012020-06-300001381668tfsl:MultipleRestructuringsMembertfsl:ResidentialHomeTodayMember2020-04-012020-06-300001381668tfsl:Chapter7BankruptcyDischargedMembertfsl:ResidentialHomeTodayMember2020-04-012020-06-300001381668tfsl:ResidentialHomeTodayMember2020-04-012020-06-300001381668tfsl:EquityLoansAndLinesOfCreditMembertfsl:InitialRestructuringMember2020-04-012020-06-300001381668tfsl:EquityLoansAndLinesOfCreditMembertfsl:MultipleRestructuringsMember2020-04-012020-06-300001381668tfsl:EquityLoansAndLinesOfCreditMembertfsl:Chapter7BankruptcyDischargedMember2020-04-012020-06-300001381668tfsl:EquityLoansAndLinesOfCreditMember2020-04-012020-06-300001381668tfsl:InitialRestructuringMember2020-04-012020-06-300001381668tfsl:MultipleRestructuringsMember2020-04-012020-06-300001381668tfsl:Chapter7BankruptcyDischargedMember2020-04-012020-06-300001381668tfsl:InitialRestructuringMembertfsl:ResidentialNonHomeTodayMember2020-10-012021-06-300001381668tfsl:MultipleRestructuringsMembertfsl:ResidentialNonHomeTodayMember2020-10-012021-06-300001381668tfsl:Chapter7BankruptcyDischargedMembertfsl:ResidentialNonHomeTodayMember2020-10-012021-06-300001381668tfsl:ResidentialNonHomeTodayMember2020-10-012021-06-300001381668tfsl:InitialRestructuringMembertfsl:ResidentialHomeTodayMember2020-10-012021-06-300001381668tfsl:MultipleRestructuringsMembertfsl:ResidentialHomeTodayMember2020-10-012021-06-300001381668tfsl:Chapter7BankruptcyDischargedMembertfsl:ResidentialHomeTodayMember2020-10-012021-06-300001381668tfsl:ResidentialHomeTodayMember2020-10-012021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMembertfsl:InitialRestructuringMember2020-10-012021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMembertfsl:MultipleRestructuringsMember2020-10-012021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMembertfsl:Chapter7BankruptcyDischargedMember2020-10-012021-06-300001381668tfsl:EquityLoansAndLinesOfCreditMember2020-10-012021-06-300001381668tfsl:InitialRestructuringMember2020-10-012021-06-300001381668tfsl:MultipleRestructuringsMember2020-10-012021-06-300001381668tfsl:Chapter7BankruptcyDischargedMember2020-10-012021-06-300001381668tfsl:InitialRestructuringMembertfsl:ResidentialNonHomeTodayMember2019-10-012020-06-300001381668tfsl:MultipleRestructuringsMembertfsl:ResidentialNonHomeTodayMember2019-10-012020-06-300001381668tfsl:Chapter7BankruptcyDischargedMembertfsl:ResidentialNonHomeTodayMember2019-10-012020-06-300001381668tfsl:ResidentialNonHomeTodayMember2019-10-012020-06-300001381668tfsl:InitialRestructuringMembertfsl:ResidentialHomeTodayMember2019-10-012020-06-300001381668tfsl:MultipleRestructuringsMembertfsl:ResidentialHomeTodayMember2019-10-012020-06-300001381668tfsl:Chapter7BankruptcyDischargedMembertfsl:ResidentialHomeTodayMember2019-10-012020-06-300001381668tfsl:ResidentialHomeTodayMember2019-10-012020-06-300001381668tfsl:EquityLoansAndLinesOfCreditMembertfsl:InitialRestructuringMember2019-10-012020-06-300001381668tfsl:EquityLoansAndLinesOfCreditMembertfsl:MultipleRestructuringsMember2019-10-012020-06-300001381668tfsl:EquityLoansAndLinesOfCreditMembertfsl:Chapter7BankruptcyDischargedMember2019-10-012020-06-300001381668tfsl:EquityLoansAndLinesOfCreditMember2019-10-012020-06-300001381668tfsl:InitialRestructuringMember2019-10-012020-06-300001381668tfsl:MultipleRestructuringsMember2019-10-012020-06-300001381668tfsl:Chapter7BankruptcyDischargedMember2019-10-012020-06-30tfsl:contracts0001381668tfsl:ResidentialNonHomeTodayMember2019-10-012020-09-300001381668tfsl:ResidentialHomeTodayMember2019-10-012020-09-300001381668tfsl:EquityLoansAndLinesOfCreditMember2019-10-012020-09-3000013816682019-10-012020-09-300001381668tfsl:SavingsAccountsRangeexcludingMMAPercentageMember2021-06-300001381668tfsl:SavingsAccountsRangeexcludingMMAPercentageMember2020-09-300001381668us-gaap:MoneyMarketFundsMember2021-06-300001381668us-gaap:MoneyMarketFundsMember2020-09-300001381668us-gaap:FederalHomeLoanBankAdvancesMember2021-04-012021-06-300001381668us-gaap:FederalHomeLoanBankAdvancesMember2020-10-012021-06-300001381668us-gaap:FederalHomeLoanBankAdvancesMember2020-04-012020-06-300001381668us-gaap:FederalHomeLoanBankAdvancesMember2019-10-012020-06-300001381668us-gaap:InterestRateSwapMember2021-06-300001381668us-gaap:InterestRateSwapMembertfsl:EffectiveMaturityYear1Member2021-06-300001381668us-gaap:InterestRateSwapMembertfsl:EffectiveMaturityYear2Member2021-06-300001381668us-gaap:InterestRateSwapMembertfsl:EffectiveMaturityYear3Member2021-06-300001381668us-gaap:InterestRateSwapMembertfsl:EffectiveMaturityYear4Member2021-06-300001381668us-gaap:InterestRateSwapMembertfsl:EffectiveMaturityYear5Member2021-06-300001381668us-gaap:InterestRateSwapMembertfsl:EffectiveMaturityAfterYear5Member2021-06-300001381668us-gaap:FederalHomeLoanBankAdvancesMember2019-10-012020-09-300001381668us-gaap:InterestRateSwapMemberus-gaap:ContractTerminationMember2020-09-300001381668us-gaap:InterestRateSwapMembertfsl:InterestExpenseAndPrepaymentFeesMember2019-10-012020-09-300001381668us-gaap:ContractTerminationMember2020-09-300001381668us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-03-310001381668us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2021-03-310001381668us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-03-310001381668us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-03-310001381668us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2020-03-310001381668us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-03-310001381668us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-04-012021-06-300001381668us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2021-04-012021-06-300001381668us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-04-012021-06-300001381668us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-04-012020-06-300001381668us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2020-04-012020-06-300001381668us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-04-012020-06-300001381668us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-06-300001381668us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2021-06-300001381668us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-06-300001381668us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-06-300001381668us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2020-06-300001381668us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-06-300001381668us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-09-300001381668us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2020-09-300001381668us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-09-300001381668us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-09-300001381668us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2019-09-300001381668us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-09-300001381668us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-10-012021-06-300001381668us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2020-10-012021-06-300001381668us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-10-012021-06-300001381668us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-10-012020-06-300001381668us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2019-10-012020-06-300001381668us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-10-012020-06-300001381668us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMemberus-gaap:InterestRateContractMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-04-012021-06-300001381668us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMemberus-gaap:InterestRateContractMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-04-012020-06-300001381668us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMemberus-gaap:InterestRateContractMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-10-012021-06-300001381668us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMemberus-gaap:InterestRateContractMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2019-10-012020-06-300001381668us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-04-012021-06-300001381668us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-04-012020-06-300001381668us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-10-012021-06-300001381668us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2019-10-012020-06-300001381668us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2021-04-012021-06-300001381668us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2020-04-012020-06-300001381668us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2020-10-012021-06-300001381668us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2019-10-012020-06-300001381668us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-04-012021-06-300001381668us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-04-012020-06-300001381668us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-10-012021-06-300001381668us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2019-10-012020-06-300001381668us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-04-012021-06-300001381668us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-04-012020-06-300001381668us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-10-012021-06-300001381668us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2019-10-012020-06-300001381668us-gaap:RestrictedStockUnitsRSUMember2020-12-012020-12-310001381668us-gaap:PerformanceSharesMember2020-12-012020-12-310001381668us-gaap:EmployeeStockOptionMember2021-04-012021-06-300001381668us-gaap:EmployeeStockOptionMember2020-04-012020-06-300001381668us-gaap:EmployeeStockOptionMember2020-10-012021-06-300001381668us-gaap:EmployeeStockOptionMember2019-10-012020-06-300001381668us-gaap:RestrictedStockUnitsRSUMember2021-04-012021-06-300001381668us-gaap:RestrictedStockUnitsRSUMember2020-04-012020-06-300001381668us-gaap:RestrictedStockUnitsRSUMember2020-10-012021-06-300001381668us-gaap:RestrictedStockUnitsRSUMember2019-10-012020-06-300001381668us-gaap:PerformanceSharesMember2021-04-012021-06-300001381668us-gaap:PerformanceSharesMember2020-04-012020-06-300001381668us-gaap:PerformanceSharesMember2020-10-012021-06-300001381668us-gaap:PerformanceSharesMember2019-10-012020-06-300001381668us-gaap:RestrictedStockUnitsRSUMember2021-06-300001381668us-gaap:PerformanceSharesMember2021-06-300001381668srt:MinimumMember2020-10-012021-06-300001381668srt:MaximumMember2020-10-012021-06-300001381668tfsl:LoanOriginationCommitmentsFixedRateMember2021-06-300001381668tfsl:LoanOriginationCommitmentsVariableRateMember2021-06-300001381668tfsl:LoanOriginationCommitmentsEquityLoansandLinesofCreditIncludingBridgeLoansMember2021-06-300001381668us-gaap:LoanOriginationCommitmentsMember2021-06-300001381668tfsl:UnfundedCommitmentsEquityLinesofCreditMember2021-06-300001381668tfsl:UnfundedCommitmentsConstructionLoansMember2021-06-300001381668tfsl:UnfundedCommitmentsMember2021-06-300001381668tfsl:UnfundedCommitmentsEquityLinesOfCreditIncludingSuspendedAccountsMember2021-06-300001381668tfsl:LoansHeldForSaleSubjectToPendingAgencyContractIncludingTBAMember2021-06-300001381668tfsl:LoansHeldForSaleSubjectToPendingAgencyContractIncludingTBAMember2020-09-300001381668tfsl:LoansHeldForSaleSubjectToPendingAgencyContractsMember2021-06-300001381668tfsl:LoansHeldForSaleSubjectToPendingAgencyContractsMember2020-09-300001381668tfsl:LoansHeldForSaleSubjectToPendingAgencyContractsMember2021-04-012021-06-300001381668tfsl:LoansHeldForSaleSubjectToPendingAgencyContractsMember2020-10-012021-06-300001381668tfsl:LoansHeldForSaleSubjectToPendingAgencyContractsMember2020-04-012020-06-300001381668tfsl:LoansHeldForSaleSubjectToPendingAgencyContractsMember2019-10-012020-06-300001381668us-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:FairValueInputsLevel2Member2021-06-300001381668us-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:FairValueInputsLevel2Member2020-09-300001381668us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMembertfsl:CarriedAtCostMemberus-gaap:FairValueInputsLevel2Member2021-06-300001381668us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMembertfsl:CarriedAtCostMemberus-gaap:FairValueInputsLevel2Member2020-09-300001381668us-gaap:PerformingFinancingReceivableMemberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMembertfsl:TroubledDebtRestructuringMembertfsl:PresentValueOfCashFlowsMember2021-06-300001381668us-gaap:PerformingFinancingReceivableMemberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMembertfsl:TroubledDebtRestructuringMembertfsl:PresentValueOfCashFlowsMember2020-09-300001381668us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:FairValueInputsLevel3Member2021-06-300001381668us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:FairValueInputsLevel3Member2020-09-300001381668us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMembertfsl:OriginalOrAdjustedCostBasisMember2020-09-300001381668us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMembertfsl:OriginalOrAdjustedCostBasisMember2021-06-300001381668us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-06-300001381668us-gaap:CollateralizedMortgageObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2021-06-300001381668us-gaap:FairValueInputsLevel1Memberus-gaap:CollateralizedMortgageObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2021-06-300001381668us-gaap:CollateralizedMortgageObligationsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2021-06-300001381668us-gaap:CollateralizedMortgageObligationsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-06-300001381668us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2021-06-300001381668us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2021-06-300001381668us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMemberus-gaap:FairValueInputsLevel2Member2021-06-300001381668us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2021-06-300001381668us-gaap:FairValueInputsLevel1Membertfsl:LoansHeldForSaleSubjectToPendingAgencyContractsMember2021-06-300001381668tfsl:LoansHeldForSaleSubjectToPendingAgencyContractsMemberus-gaap:FairValueInputsLevel2Member2021-06-300001381668us-gaap:FairValueInputsLevel3Membertfsl:LoansHeldForSaleSubjectToPendingAgencyContractsMember2021-06-300001381668us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateLockCommitmentsMember2021-06-300001381668us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateLockCommitmentsMember2021-06-300001381668us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateLockCommitmentsMemberus-gaap:FairValueInputsLevel2Member2021-06-300001381668us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMember2021-06-300001381668us-gaap:FairValueMeasurementsRecurringMember2021-06-300001381668us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-06-300001381668us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2021-06-300001381668us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-06-300001381668us-gaap:CollateralizedMortgageObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2020-09-300001381668us-gaap:FairValueInputsLevel1Memberus-gaap:CollateralizedMortgageObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2020-09-300001381668us-gaap:CollateralizedMortgageObligationsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2020-09-300001381668us-gaap:CollateralizedMortgageObligationsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2020-09-300001381668us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2020-09-300001381668us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2020-09-300001381668us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMemberus-gaap:FairValueInputsLevel2Member2020-09-300001381668us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2020-09-300001381668us-gaap:FairValueInputsLevel1Membertfsl:LoansHeldForSaleSubjectToPendingAgencyContractsMember2020-09-300001381668tfsl:LoansHeldForSaleSubjectToPendingAgencyContractsMemberus-gaap:FairValueInputsLevel2Member2020-09-300001381668us-gaap:FairValueInputsLevel3Membertfsl:LoansHeldForSaleSubjectToPendingAgencyContractsMember2020-09-300001381668us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateLockCommitmentsMember2020-09-300001381668us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateLockCommitmentsMember2020-09-300001381668us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateLockCommitmentsMemberus-gaap:FairValueInputsLevel2Member2020-09-300001381668us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMember2020-09-300001381668us-gaap:FairValueMeasurementsRecurringMember2020-09-300001381668us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2020-09-300001381668us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2020-09-300001381668us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2020-09-300001381668tfsl:ForwardCommitmentsForSaleOfMortgageLoansMemberus-gaap:FairValueMeasurementsRecurringMember2020-09-300001381668us-gaap:FairValueInputsLevel1Membertfsl:ForwardCommitmentsForSaleOfMortgageLoansMemberus-gaap:FairValueMeasurementsRecurringMember2020-09-300001381668tfsl:ForwardCommitmentsForSaleOfMortgageLoansMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2020-09-300001381668tfsl:ForwardCommitmentsForSaleOfMortgageLoansMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2020-09-300001381668us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMember2021-03-310001381668us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMember2020-03-310001381668us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMember2020-09-300001381668us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMember2019-09-300001381668us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMemberus-gaap:OtherIncomeMember2021-04-012021-06-300001381668us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMemberus-gaap:OtherIncomeMember2020-04-012020-06-300001381668us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMemberus-gaap:OtherIncomeMember2020-10-012021-06-300001381668us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMemberus-gaap:OtherIncomeMember2019-10-012020-06-300001381668us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMember2021-06-300001381668us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMember2020-06-300001381668us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMember2021-04-012021-06-300001381668us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMember2020-04-012020-06-300001381668us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMember2020-10-012021-06-300001381668us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMember2019-10-012020-06-300001381668tfsl:CollateralDependentLoansNetMemberus-gaap:FairValueMeasurementsNonrecurringMember2021-06-300001381668tfsl:CollateralDependentLoansNetMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2021-06-300001381668tfsl:CollateralDependentLoansNetMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Member2021-06-300001381668tfsl:CollateralDependentLoansNetMembertfsl:CollateralValueMemberus-gaap:FairValueInputsLevel3Membertfsl:MeasurementInputDiscountedAppraisedValueMember2021-06-300001381668tfsl:CollateralDependentLoansNetMemberus-gaap:FairValueMeasurementsNonrecurringMember2020-09-300001381668tfsl:CollateralDependentLoansNetMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2020-09-300001381668tfsl:CollateralDependentLoansNetMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Member2020-09-300001381668tfsl:CollateralDependentLoansNetMembertfsl:CollateralValueMemberus-gaap:FairValueInputsLevel3Membertfsl:MeasurementInputDiscountedAppraisedValueMember2020-09-300001381668tfsl:RealEstateOwnedMemberus-gaap:FairValueMeasurementsNonrecurringMember2020-09-300001381668us-gaap:FairValueInputsLevel1Membertfsl:RealEstateOwnedMemberus-gaap:FairValueMeasurementsNonrecurringMember2020-09-300001381668tfsl:RealEstateOwnedMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Member2020-09-300001381668tfsl:RealEstateOwnedMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2020-09-300001381668us-gaap:FairValueMeasurementsNonrecurringMember2020-09-300001381668us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2020-09-300001381668us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Member2020-09-300001381668us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2020-09-300001381668tfsl:CollateralValueMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Membertfsl:MeasurementInputDiscountedAppraisedValueMember2021-06-300001381668tfsl:CollateralValueMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Membertfsl:MeasurementInputDiscountedAppraisedValueMember2021-06-300001381668srt:WeightedAverageMembertfsl:CollateralValueMemberus-gaap:FairValueInputsLevel3Membertfsl:MeasurementInputDiscountedAppraisedValueMember2021-06-300001381668tfsl:MeasurementInputClosureRateMembertfsl:SecondaryMarketPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMember2021-06-300001381668tfsl:MeasurementInputClosureRateMembersrt:MinimumMembertfsl:SecondaryMarketPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMember2021-06-300001381668tfsl:MeasurementInputClosureRateMembersrt:MaximumMembertfsl:SecondaryMarketPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMember2021-06-300001381668tfsl:MeasurementInputClosureRateMembersrt:WeightedAverageMembertfsl:SecondaryMarketPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMember2021-06-300001381668tfsl:CollateralValueMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Membertfsl:MeasurementInputDiscountedAppraisedValueMember2020-09-300001381668tfsl:CollateralValueMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Membertfsl:MeasurementInputDiscountedAppraisedValueMember2020-09-300001381668srt:WeightedAverageMembertfsl:CollateralValueMemberus-gaap:FairValueInputsLevel3Membertfsl:MeasurementInputDiscountedAppraisedValueMember2020-09-300001381668tfsl:MeasurementInputClosureRateMembertfsl:SecondaryMarketPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMember2020-09-300001381668tfsl:MeasurementInputClosureRateMembersrt:MinimumMembertfsl:SecondaryMarketPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMember2020-09-300001381668tfsl:MeasurementInputClosureRateMembersrt:MaximumMembertfsl:SecondaryMarketPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMember2020-09-300001381668tfsl:MeasurementInputClosureRateMembersrt:WeightedAverageMembertfsl:SecondaryMarketPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMember2020-09-300001381668us-gaap:CashMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-06-300001381668us-gaap:CashMember2021-06-300001381668us-gaap:CashMemberus-gaap:FairValueInputsLevel1Member2021-06-300001381668us-gaap:CashMemberus-gaap:FairValueInputsLevel2Member2021-06-300001381668us-gaap:CashMemberus-gaap:FairValueInputsLevel3Member2021-06-300001381668us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:CashEquivalentsMember2021-06-300001381668us-gaap:CashEquivalentsMember2021-06-300001381668us-gaap:FairValueInputsLevel1Memberus-gaap:CashEquivalentsMember2021-06-300001381668us-gaap:CashEquivalentsMemberus-gaap:FairValueInputsLevel2Member2021-06-300001381668us-gaap:CashEquivalentsMemberus-gaap:FairValueInputsLevel3Member2021-06-300001381668us-gaap:CarryingReportedAmountFairValueDisclosureMember2021-06-300001381668us-gaap:FairValueInputsLevel1Member2021-06-300001381668us-gaap:FairValueInputsLevel2Member2021-06-300001381668us-gaap:FairValueInputsLevel3Member2021-06-300001381668us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:MortgageReceivablesMember2021-06-300001381668us-gaap:MortgageReceivablesMember2021-06-300001381668us-gaap:FairValueInputsLevel1Memberus-gaap:MortgageReceivablesMember2021-06-300001381668us-gaap:MortgageReceivablesMemberus-gaap:FairValueInputsLevel2Member2021-06-300001381668us-gaap:FairValueInputsLevel3Memberus-gaap:MortgageReceivablesMember2021-06-300001381668tfsl:OtherLoansMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-06-300001381668tfsl:OtherLoansMember2021-06-300001381668tfsl:OtherLoansMemberus-gaap:FairValueInputsLevel1Member2021-06-300001381668tfsl:OtherLoansMemberus-gaap:FairValueInputsLevel2Member2021-06-300001381668tfsl:OtherLoansMemberus-gaap:FairValueInputsLevel3Member2021-06-300001381668us-gaap:CarryingReportedAmountFairValueDisclosureMembertfsl:AccruedInterestReceivableMember2021-06-300001381668tfsl:AccruedInterestReceivableMember2021-06-300001381668us-gaap:FairValueInputsLevel1Membertfsl:AccruedInterestReceivableMember2021-06-300001381668tfsl:AccruedInterestReceivableMemberus-gaap:FairValueInputsLevel2Member2021-06-300001381668tfsl:AccruedInterestReceivableMemberus-gaap:FairValueInputsLevel3Member2021-06-300001381668us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:DemandDepositsMember2021-06-300001381668us-gaap:DemandDepositsMember2021-06-300001381668us-gaap:FairValueInputsLevel1Memberus-gaap:DemandDepositsMember2021-06-300001381668us-gaap:DemandDepositsMemberus-gaap:FairValueInputsLevel2Member2021-06-300001381668us-gaap:DemandDepositsMemberus-gaap:FairValueInputsLevel3Member2021-06-300001381668us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:CertificatesOfDepositMember2021-06-300001381668us-gaap:CertificatesOfDepositMember2021-06-300001381668us-gaap:FairValueInputsLevel1Memberus-gaap:CertificatesOfDepositMember2021-06-300001381668us-gaap:CertificatesOfDepositMemberus-gaap:FairValueInputsLevel2Member2021-06-300001381668us-gaap:CertificatesOfDepositMemberus-gaap:FairValueInputsLevel3Member2021-06-300001381668us-gaap:CarryingReportedAmountFairValueDisclosureMembertfsl:AdvancePaymentsbyBorrowersforTaxesAndInsuranceMember2021-06-300001381668tfsl:AdvancePaymentsbyBorrowersforTaxesAndInsuranceMember2021-06-300001381668us-gaap:FairValueInputsLevel1Membertfsl:AdvancePaymentsbyBorrowersforTaxesAndInsuranceMember2021-06-300001381668tfsl:AdvancePaymentsbyBorrowersforTaxesAndInsuranceMemberus-gaap:FairValueInputsLevel2Member2021-06-300001381668us-gaap:FairValueInputsLevel3Membertfsl:AdvancePaymentsbyBorrowersforTaxesAndInsuranceMember2021-06-300001381668tfsl:PrincipalInterestAndRelatedEscrowOwedOnLoansServicedMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-06-300001381668tfsl:PrincipalInterestAndRelatedEscrowOwedOnLoansServicedMember2021-06-300001381668us-gaap:FairValueInputsLevel1Membertfsl:PrincipalInterestAndRelatedEscrowOwedOnLoansServicedMember2021-06-300001381668tfsl:PrincipalInterestAndRelatedEscrowOwedOnLoansServicedMemberus-gaap:FairValueInputsLevel2Member2021-06-300001381668tfsl:PrincipalInterestAndRelatedEscrowOwedOnLoansServicedMemberus-gaap:FairValueInputsLevel3Member2021-06-300001381668us-gaap:CashMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2020-09-300001381668us-gaap:CashMember2020-09-300001381668us-gaap:CashMemberus-gaap:FairValueInputsLevel1Member2020-09-300001381668us-gaap:CashMemberus-gaap:FairValueInputsLevel2Member2020-09-300001381668us-gaap:CashMemberus-gaap:FairValueInputsLevel3Member2020-09-300001381668us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:CashEquivalentsMember2020-09-300001381668us-gaap:CashEquivalentsMember2020-09-300001381668us-gaap:FairValueInputsLevel1Memberus-gaap:CashEquivalentsMember2020-09-300001381668us-gaap:CashEquivalentsMemberus-gaap:FairValueInputsLevel2Member2020-09-300001381668us-gaap:CashEquivalentsMemberus-gaap:FairValueInputsLevel3Member2020-09-300001381668us-gaap:CarryingReportedAmountFairValueDisclosureMember2020-09-300001381668us-gaap:FairValueInputsLevel1Member2020-09-300001381668us-gaap:FairValueInputsLevel2Member2020-09-300001381668us-gaap:FairValueInputsLevel3Member2020-09-300001381668us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:MortgageReceivablesMember2020-09-300001381668us-gaap:MortgageReceivablesMember2020-09-300001381668us-gaap:FairValueInputsLevel1Memberus-gaap:MortgageReceivablesMember2020-09-300001381668us-gaap:MortgageReceivablesMemberus-gaap:FairValueInputsLevel2Member2020-09-300001381668us-gaap:FairValueInputsLevel3Memberus-gaap:MortgageReceivablesMember2020-09-300001381668tfsl:OtherLoansMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2020-09-300001381668tfsl:OtherLoansMember2020-09-300001381668tfsl:OtherLoansMemberus-gaap:FairValueInputsLevel1Member2020-09-300001381668tfsl:OtherLoansMemberus-gaap:FairValueInputsLevel2Member2020-09-300001381668tfsl:OtherLoansMemberus-gaap:FairValueInputsLevel3Member2020-09-300001381668us-gaap:CarryingReportedAmountFairValueDisclosureMembertfsl:AccruedInterestReceivableMember2020-09-300001381668tfsl:AccruedInterestReceivableMember2020-09-300001381668us-gaap:FairValueInputsLevel1Membertfsl:AccruedInterestReceivableMember2020-09-300001381668tfsl:AccruedInterestReceivableMemberus-gaap:FairValueInputsLevel2Member2020-09-300001381668tfsl:AccruedInterestReceivableMemberus-gaap:FairValueInputsLevel3Member2020-09-300001381668us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:DemandDepositsMember2020-09-300001381668us-gaap:DemandDepositsMember2020-09-300001381668us-gaap:FairValueInputsLevel1Memberus-gaap:DemandDepositsMember2020-09-300001381668us-gaap:DemandDepositsMemberus-gaap:FairValueInputsLevel2Member2020-09-300001381668us-gaap:DemandDepositsMemberus-gaap:FairValueInputsLevel3Member2020-09-300001381668us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:CertificatesOfDepositMember2020-09-300001381668us-gaap:CertificatesOfDepositMember2020-09-300001381668us-gaap:FairValueInputsLevel1Memberus-gaap:CertificatesOfDepositMember2020-09-300001381668us-gaap:CertificatesOfDepositMemberus-gaap:FairValueInputsLevel2Member2020-09-300001381668us-gaap:CertificatesOfDepositMemberus-gaap:FairValueInputsLevel3Member2020-09-300001381668us-gaap:CarryingReportedAmountFairValueDisclosureMembertfsl:AdvancePaymentsbyBorrowersforTaxesAndInsuranceMember2020-09-300001381668tfsl:AdvancePaymentsbyBorrowersforTaxesAndInsuranceMember2020-09-300001381668us-gaap:FairValueInputsLevel1Membertfsl:AdvancePaymentsbyBorrowersforTaxesAndInsuranceMember2020-09-300001381668tfsl:AdvancePaymentsbyBorrowersforTaxesAndInsuranceMemberus-gaap:FairValueInputsLevel2Member2020-09-300001381668us-gaap:FairValueInputsLevel3Membertfsl:AdvancePaymentsbyBorrowersforTaxesAndInsuranceMember2020-09-300001381668tfsl:PrincipalInterestAndRelatedEscrowOwedOnLoansServicedMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2020-09-300001381668tfsl:PrincipalInterestAndRelatedEscrowOwedOnLoansServicedMember2020-09-300001381668us-gaap:FairValueInputsLevel1Membertfsl:PrincipalInterestAndRelatedEscrowOwedOnLoansServicedMember2020-09-300001381668tfsl:PrincipalInterestAndRelatedEscrowOwedOnLoansServicedMemberus-gaap:FairValueInputsLevel2Member2020-09-300001381668tfsl:PrincipalInterestAndRelatedEscrowOwedOnLoansServicedMemberus-gaap:FairValueInputsLevel3Member2020-09-300001381668us-gaap:CarryingReportedAmountFairValueDisclosureMembertfsl:ForwardCommitmentsForSaleOfMortgageLoansMember2020-09-300001381668tfsl:ForwardCommitmentsForSaleOfMortgageLoansMember2020-09-300001381668us-gaap:FairValueInputsLevel1Membertfsl:ForwardCommitmentsForSaleOfMortgageLoansMember2020-09-300001381668tfsl:ForwardCommitmentsForSaleOfMortgageLoansMemberus-gaap:FairValueInputsLevel2Member2020-09-300001381668tfsl:ForwardCommitmentsForSaleOfMortgageLoansMemberus-gaap:FairValueInputsLevel3Member2020-09-300001381668us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-10-012021-06-300001381668us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-10-012020-09-300001381668us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-09-300001381668us-gaap:InterestRateSwapMemberus-gaap:OtherAssetsMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-06-300001381668us-gaap:InterestRateSwapMemberus-gaap:OtherAssetsMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-09-300001381668us-gaap:InterestRateSwapMemberus-gaap:OtherLiabilitiesMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-06-300001381668us-gaap:InterestRateSwapMemberus-gaap:OtherLiabilitiesMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-09-300001381668us-gaap:InterestRateLockCommitmentsMemberus-gaap:OtherAssetsMemberus-gaap:NondesignatedMember2021-06-300001381668us-gaap:InterestRateLockCommitmentsMemberus-gaap:OtherAssetsMemberus-gaap:NondesignatedMember2020-09-300001381668tfsl:ForwardCommitmentsForSaleOfMortgageLoansMemberus-gaap:OtherLiabilitiesMemberus-gaap:NondesignatedMember2021-06-300001381668tfsl:ForwardCommitmentsForSaleOfMortgageLoansMemberus-gaap:OtherLiabilitiesMemberus-gaap:NondesignatedMember2020-09-300001381668us-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMember2021-06-300001381668us-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMember2020-09-300001381668us-gaap:OtherComprehensiveIncomeMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-04-012021-06-300001381668us-gaap:OtherComprehensiveIncomeMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-04-012020-06-300001381668us-gaap:OtherComprehensiveIncomeMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-10-012021-06-300001381668us-gaap:OtherComprehensiveIncomeMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-10-012020-06-300001381668us-gaap:InterestExpenseMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-04-012021-06-300001381668us-gaap:InterestExpenseMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-04-012020-06-300001381668us-gaap:InterestExpenseMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-10-012021-06-300001381668us-gaap:InterestExpenseMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-10-012020-06-300001381668us-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMemberus-gaap:OtherIncomeMember2021-04-012021-06-300001381668us-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMemberus-gaap:OtherIncomeMember2020-04-012020-06-300001381668us-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMemberus-gaap:OtherIncomeMember2020-10-012021-06-300001381668us-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMemberus-gaap:OtherIncomeMember2019-10-012020-06-300001381668tfsl:ForwardCommitmentsForSaleOfMortgageLoansMembertfsl:NetGainLossOnSaleOfMortgageLoansMemberus-gaap:NondesignatedMember2021-04-012021-06-300001381668tfsl:ForwardCommitmentsForSaleOfMortgageLoansMembertfsl:NetGainLossOnSaleOfMortgageLoansMemberus-gaap:NondesignatedMember2020-04-012020-06-300001381668tfsl:ForwardCommitmentsForSaleOfMortgageLoansMembertfsl:NetGainLossOnSaleOfMortgageLoansMemberus-gaap:NondesignatedMember2020-10-012021-06-300001381668tfsl:ForwardCommitmentsForSaleOfMortgageLoansMembertfsl:NetGainLossOnSaleOfMortgageLoansMemberus-gaap:NondesignatedMember2019-10-012020-06-30
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
________________________________
FORM 10-Q
________________________________
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the Quarterly Period Ended June 30, 2021
or 
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For transition period from              to             
Commission File Number 001-33390
________________________________________
TFS FINANCIAL CORPORATION
(Exact Name of Registrant as Specified in its Charter)
________________________________________
United States of America   52-2054948
(State or Other Jurisdiction of
Incorporation or Organization)
  (I.R.S. Employer
Identification No.)
7007 Broadway Avenue
Cleveland, Ohio   44105
(Address of Principal Executive Offices)   (Zip Code)
(216) 441-6000
Registrant’s telephone number, including area code:
Not Applicable
(Former name, former address and former fiscal year, if changed since last report)
________________________________________
Securities registered pursuant to Section 12(b) of the Act
Title of each class Trading Symbol(s) Name of each exchange in which registered
Common Stock, par value $0.01 per share TFSL The NASDAQ Stock Market, LLC

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  ¨
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes  x    No  ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer   x    Accelerated filer   ¨
Non-accelerated filer   o    Smaller Reporting Company  
Emerging Growth Company
If an emerging company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes ☐      No  x
As of August 4, 2021, there were 280,623,861 shares of the Registrant’s common stock, par value $0.01 per share, outstanding, of which 227,119,132 shares, or 80.9% of the Registrant’s common stock, were held by Third Federal Savings and Loan Association of Cleveland, MHC, the Registrant’s mutual holding company.


TFS Financial Corporation
INDEX
    Page
3
PART l – FINANCIAL INFORMATION
Item 1.
June 30, 2021 and September 30, 2020
4
Three and Nine Months Ended June 30, 2021 and 2020
5
Three and Nine Months Ended June 30, 2021 and 2020
6
Three and Nine Months Ended June 30, 2021 and 2020
7
Nine Months Ended June 30, 2021 and 2022
9
Item 2.
Item 3.
Item 4.
Item 1.
Item 1A.
Item 2.
Item 3.
Item 4.
Item 5.
Item 6.

2

GLOSSARY OF TERMS
TFS Financial Corporation provides the following list of acronyms and defined terms as a tool for the reader. The acronyms and defined terms identified below are used throughout the document.
ACL: Allowance for Credit Losses
FHFA: Federal Housing Finance Agency
ACT: Tax Cuts and Jobs Act
FHLB: Federal Home Loan Bank
AOCI: Accumulated Other Comprehensive Income
FICO: Fair Isaac Corporation
ARM: Adjustable Rate Mortgage
FRB-Cleveland: Federal Reserve Bank of Cleveland
ASC: Accounting Standards Codification
Freddie Mac: Federal Home Loan Mortgage Corporation
ASU: Accounting Standards Update
FRS: Board of Governors of the Federal Reserve System
Association: Third Federal Savings and Loan
GAAP: Generally Accepted Accounting Principles
Association of Cleveland
Ginnie Mae: Government National Mortgage Association
BOLI: Bank Owned Life Insurance
GVA: General Valuation Allowances
CARES Act: Coronavirus Aid, Relief and Economic Security
HPI: Home Price Index
Act
IRR: Interest Rate Risk
CDs: Certificates of Deposit
IRS: Internal Revenue Service
CECL: Current Expected Credit Losses
IVA: Individual Valuation Allowance
CFPB: Consumer Financial Protection Bureau
LIHTC: Low Income Housing Tax Credit
CLTV: Combined Loan-to-Value
LIP: Loans-in-Process
Company: TFS Financial Corporation and its
LTV: Loan-to-Value
subsidiaries
MGIC: Mortgage Guaranty Insurance Corporation
DFA: Dodd-Frank Wall Street Reform and Consumer
OCC: Office of the Comptroller of the Currency
Protection Act
OCI: Other Comprehensive Income
EaR: Earnings at Risk
PMI: Private Mortgage Insurance
EPS: Earnings per Share
PMIC: PMI Mortgage Insurance Co.
ESOP: Third Federal Employee (Associate) Stock
REMICs: Real Estate Mortgage Investment Conduits
Ownership Plan
SEC: United States Securities and Exchange Commission
EVE: Economic Value of Equity
TDR: Troubled Debt Restructuring
Fannie Mae: Federal National Mortgage Association
Third Federal Savings, MHC: Third Federal Savings
FASB: Financial Accounting Standards Board
and Loan Association of Cleveland, MHC
FDIC: Federal Deposit Insurance Corporation



3

Item 1. Financial Statements
TFS FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CONDITION (unaudited)
(In thousands, except share data)
June 30,
2021
September 30,
2020
ASSETS
Cash and due from banks $ 27,410  $ 25,270 
Other interest-earning cash equivalents 552,735  472,763 
Cash and cash equivalents 580,145  498,033 
Investment securities available for sale (amortized cost $416,715 and $447,384, respectively) 419,444  453,438 
Mortgage loans held for sale ($152 and $36,078 measured at fair value, respectively) 6,931  36,871 
Loans held for investment, net:
Mortgage loans 12,621,092  13,104,959 
Other loans 2,701  2,581 
Deferred loan expenses, net 43,922  42,459 
Allowance for credit losses on loans (66,435) (46,937)
Loans, net 12,601,280  13,103,062 
Mortgage loan servicing rights, net 9,094  7,860 
Federal Home Loan Bank stock, at cost 162,783  136,793 
Real estate owned, net —  185 
Premises, equipment, and software, net 38,676  41,594 
Accrued interest receivable 32,292  36,634 
Bank owned life insurance contracts 295,235  222,919 
Other assets 90,821  104,832 
TOTAL ASSETS $ 14,236,701  $ 14,642,221 
LIABILITIES AND SHAREHOLDERS’ EQUITY
Deposits $ 9,150,762  $ 9,225,554 
Borrowed funds 3,142,705  3,521,745 
Borrowers’ advances for insurance and taxes 66,138  111,536 
Principal, interest, and related escrow owed on loans serviced 27,694  45,895 
Accrued expenses and other liabilities 139,686  65,638 
Total liabilities 12,526,985  12,970,368 
Commitments and contingent liabilities
Preferred stock, $0.01 par value, 100,000,000 shares authorized, none issued and outstanding —  — 
Common stock, $0.01 par value, 700,000,000 shares authorized; 332,318,750 shares issued; 280,623,687 and 280,150,006 outstanding at June 30, 2021 and September 30, 2020, respectively 3,323  3,323 
Paid-in capital 1,745,344  1,742,714 
Treasury stock, at cost; 51,695,063 and 52,168,744 shares at June 30, 2021 and September 30, 2020, respectively (766,820) (767,649)
Unallocated ESOP shares (36,834) (40,084)
Retained earnings—substantially restricted 851,073  865,514 
Accumulated other comprehensive loss (86,370) (131,965)
Total shareholders’ equity 1,709,716  1,671,853 
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 14,236,701  $ 14,642,221 
See accompanying notes to unaudited interim consolidated financial statements.
4

TFS FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME (unaudited)
(In thousands, except share and per share data)
  For the Three Months Ended For the Nine Months Ended
June 30, June 30,
  2021 2020 2021 2020
INTEREST AND DIVIDEND INCOME:
Loans, including fees $ 93,584  $ 106,839  $ 289,885  $ 337,267 
Investment securities available for sale 828  2,397  2,781  8,172 
Other interest and dividend earning assets 979  722  2,609  4,097 
Total interest and dividend income 95,391  109,958  295,275  349,536 
INTEREST EXPENSE:
Deposits 23,461  33,064  75,702  108,863 
Borrowed funds 14,852  14,015  45,341  48,571 
Total interest expense 38,313  47,079  121,043  157,434 
NET INTEREST INCOME 57,078  62,879  174,232  192,102 
PROVISION (RELEASE) FOR CREDIT LOSSES (1,000) —  (7,000) 3,000 
NET INTEREST INCOME AFTER PROVISION (RELEASE) FOR CREDIT LOSSES 58,078  62,879  181,232  189,102 
NON-INTEREST INCOME:
Fees and service charges, net of amortization 2,491  2,170  7,446  6,435 
Net gain on the sale of loans 3,423  10,844  28,777  16,907 
Increase in and death benefits from bank owned life insurance contracts 2,361  1,559  7,815  5,581 
Other 1,174  749  2,580  7,276 
Total non-interest income 9,449  15,322  46,618  36,199 
NON-INTEREST EXPENSE:
Salaries and employee benefits 26,945  24,940  81,955  78,041 
Marketing services 4,073  3,673  15,131  12,163 
Office property, equipment and software 6,427  5,877  19,257  18,857 
Federal insurance premium and assessments 2,139  2,800  6,852  8,187 
State franchise tax 1,151  1,191  3,461  3,514 
Other expenses 7,115  6,352  21,733  20,949 
Total non-interest expense 47,850  44,833  148,389  141,711 
INCOME BEFORE INCOME TAXES 19,677  33,368  79,461  83,590 
INCOME TAX EXPENSE 3,696  6,528  15,469  13,851 
NET INCOME $ 15,981  $ 26,840  $ 63,992  $ 69,739 
Earnings per share—basic and diluted $ 0.06  $ 0.10  $ 0.23  $ 0.25 
Weighted average shares outstanding
Basic 276,864,229  275,956,011  276,597,435  275,789,040 
Diluted 278,931,432  277,521,881  278,492,283  277,842,653 

See accompanying notes to unaudited interim consolidated financial statements.
5

TFS FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited)
(In thousands)
For the Three Months Ended For the Nine Months Ended
June 30, June 30,
2021 2020 2021 2020
Net income $ 15,981  $ 26,840  $ 63,992  $ 69,739 
Other comprehensive income (loss), net of tax:
Net change in unrealized gain (losses) on securities available for sale (719) (4,010) (2,577) 8,166 
Net change in cash flow hedges 1,485  (11,571) 46,773  (86,135)
Net change in defined benefit plan obligation 467  451  1,399  1,355 
Total other comprehensive income (loss) 1,233  (15,130) 45,595  (76,614)
Total comprehensive income (loss) $ 17,214  $ 11,710  $ 109,587  $ (6,875)
See accompanying notes to unaudited interim consolidated financial statements.
6

TFS FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (unaudited)
(In thousands, except share and per share data)
For the Three Months Ended June 30, 2020
  Common
stock
Paid-in
capital
Treasury
stock
Unallocated
common stock
held by ESOP
Retained
earnings
Accumulated other
comprehensive
income (loss)
Total
shareholders’
equity
Balance at March 31, 2020 $ 3,323  $ 1,739,523  $ (767,723) $ (42,251) $ 853,155  $ (130,863) $ 1,655,164 
Net income —  —  —  —  26,840  —  26,840 
Other comprehensive income (loss), net of tax —  —  —  —  —  (15,130) (15,130)
ESOP shares allocated or committed to be released —  477  —  1,084  —  —  1,561 
Compensation costs for equity incentive plans —  1,178  —  —  —  —  1,178 
Treasury stock allocated to equity incentive plan —  (175) 68  —  —  —  (107)
Dividends paid to common shareholders ($0.28 per common share) —  —  —  —  (14,030) —  (14,030)
Balance at June 30, 2020 $ 3,323  $ 1,741,003  $ (767,655) $ (41,167) $ 865,965  $ (145,993) $ 1,655,476 
For the Three Months Ended June 30, 2021
Common
stock
Paid-in
capital
Treasury
stock
Unallocated
common stock
held by ESOP
Retained
earnings
Accumulated other
comprehensive
income (loss)
Total
shareholders’
equity
Balance at March 31, 2021 $ 3,323  $ 1,742,681  $ (766,407) $ (37,917) $ 849,394  $ (87,603) $ 1,703,471 
Net income —  —  —  —  15,981  —  15,981 
Other comprehensive income (loss), net of tax —  —  —  —  —  1,233  1,233 
ESOP shares allocated or committed to be released —  1,171  —  1,083  —  —  2,254 
Compensation costs for equity incentive plans —  1,202  —  —  —  —  1,202 
Treasury stock allocated to equity incentive plan —  290  (413) —  —  —  (123)
Dividends paid to common shareholders ($0.28 per common share) —  —  —  —  (14,302) —  (14,302)
Balance at June 30, 2021 $ 3,323  $ 1,745,344  $ (766,820) $ (36,834) $ 851,073  $ (86,370) $ 1,709,716 
See accompanying notes to unaudited interim consolidated financial statements.
7

For the Nine Months Ended June 30, 2020
  Common
stock
Paid-in
capital
Treasury
stock
Unallocated
common stock
held by ESOP
Retained
earnings
Accumulated other
comprehensive
income (loss)
Total
shareholders’
equity
Balance at September 30, 2019 $ 3,323  $ 1,734,154  $ (764,589) $ (44,417) $ 837,662  $ (69,379) $ 1,696,754 
Net income —  —  —  —  69,739  —  69,739 
Other comprehensive income (loss), net of tax —  —  —  —  —  (76,614) (76,614)
ESOP shares allocated or committed to be released —  2,538  —  3,250  —  —  5,788 
Compensation costs for equity incentive plans —  3,527  —  —  —  —  3,527 
Purchase of treasury stock (20,500 shares) —  —  (378) —  —  —  (378)
Treasury stock allocated to equity incentive plan —  784  (2,688) —  —  —  (1,904)
Dividends paid to common shareholders ($0.83 per common share) —  —  —  —  (41,436) —  (41,436)
Balance at June 30, 2020 $ 3,323  $ 1,741,003  $ (767,655) $ (41,167) $ 865,965  $ (145,993) $ 1,655,476 
For the Nine Months Ended June 30, 2021
Common
stock
Paid-in
capital
Treasury
stock
Unallocated
common stock
held by ESOP
Retained
earnings
Accumulated other
comprehensive
income (loss)
Total
shareholders’
equity
Balance at September 30, 2020 $ 3,323  $ 1,742,714  $ (767,649) $ (40,084) $ 865,514  $ (131,965) $ 1,671,853 
Cumulative effect from changes in accounting principle, net of tax1
—  —  —  —  (35,763) —  (35,763)
Net income —  —  —  —  63,992  —  63,992 
Other comprehensive income (loss), net of tax —  —  —  —  —  45,595  45,595 
ESOP shares allocated or committed to be released —  2,907  —  3,250  —  —  6,157 
Compensation costs for equity incentive plans —  4,315  —  —  —  —  4,315 
Treasury stock allocated to equity incentive plan —  (4,592) 829  —  —  —  (3,763)
Dividends paid to common shareholders ($0.84 per common share) —  —  —  —  (42,670) —  (42,670)
Balance at June 30, 2021 $ 3,323  $ 1,745,344  $ (766,820) $ (36,834) $ 851,073  $ (86,370) $ 1,709,716 
1Related to ASU 2016-13 adopted October 1, 2020.
See accompanying notes to unaudited interim consolidated financial statements.

8

TFS FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (In thousands)
  For the Nine Months Ended June 30,
  2021 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $ 63,992  $ 69,739 
Adjustments to reconcile net income to net cash provided by operating activities:
ESOP and stock-based compensation expense 10,480  9,315 
Depreciation and amortization 29,113  22,880 
Deferred income taxes (351) 1,217 
Provision (release) for credit losses (7,000) 3,000 
Net gain on the sale of loans (28,777) (16,907)
Net gain on sale of commercial property —  (4,257)
Other net (gains) losses 111  (470)
Proceeds from sales of loans held for sale 46,797  41,088 
Loans originated for sale (47,601) (45,092)
Increase in bank owned life insurance contracts (5,832) (4,687)
Net decrease (increase) in interest receivable and other assets 7,418  (1,892)
Net increase in accrued expenses and other liabilities 53,013  17,463 
Net cash provided by operating activities 121,363  91,397 
CASH FLOWS FROM INVESTING ACTIVITIES:
Loans originated (3,764,249) (3,142,885)
Principal repayments on loans 3,647,652  2,353,972 
Proceeds from principal repayments and maturities of:
Securities available for sale 254,748  173,450 
Proceeds from sale of:
Loans 640,148  563,667 
Real estate owned 206  2,366 
Premises, equipment and other Assets 71  23,512 
Purchases of:
Bank-owned life insurance (70,000) — 
FHLB stock (25,990) (34,935)
Securities available for sale (229,862) (133,740)
Premises and equipment (1,235) (2,832)
Other 3,013  358 
Net cash provided by (used in) investing activities 454,502  (197,067)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net (decrease) increase in deposits (74,792) 463,727 
Net decrease in borrowers' advances for insurance and taxes (45,398) (12,224)
Net (decrease) increase in principal and interest owed on loans serviced (18,201) 10,284 
Net decrease in short-term borrowed funds (400,359) (119,832)
Proceeds from long-term borrowed funds 25,000  250,000 
Repayment of long-term borrowed funds (3,681) (274,001)
Cash collateral/settlements received from (provided to) derivative counterparties 69,801  (114,394)
Purchase of treasury shares —  (414)
Acquisition of treasury shares through net settlement of stock benefit plans compensation (3,771) (1,904)
Dividends paid to common shareholders (42,352) (41,436)
Net cash (used in) provided by financing activities (493,753) 159,806 
NET INCREASE IN CASH AND CASH EQUIVALENTS 82,112  54,136 
CASH AND CASH EQUIVALENTS—Beginning of period 498,033  275,143 
CASH AND CASH EQUIVALENTS—End of period $ 580,145  $ 329,279 
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest on deposits $ 76,268  $ 108,809 
Cash paid for interest on borrowed funds 12,263  48,544 
Cash paid for income taxes 20,013  1,658 
SUPPLEMENTAL SCHEDULES OF NONCASH INVESTING AND FINANCING ACTIVITIES:
Transfer of loans to real estate owned 41  1,751 
Transfer of loans from held for investment to held for sale 588,243  593,446 
Treasury stock issued for stock benefit plans (4,696) 784 
See accompanying notes to unaudited interim consolidated financial statements.
9

TFS FINANCIAL CORPORATION AND SUBSIDIARIES
NOTES TO UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
(Dollars in thousands unless otherwise indicated)
1.BASIS OF PRESENTATION
TFS Financial Corporation, a federally chartered stock holding company, conducts its principal activities through its wholly owned subsidiaries. The principal line of business of the Company is retail consumer banking, including mortgage lending, deposit gathering, and, to a much lesser extent, other financial services. As of June 30, 2021, approximately 81% of the Company’s outstanding shares were owned by the federally chartered mutual holding company, Third Federal Savings and Loan Association of Cleveland, MHC. The thrift subsidiary of TFS Financial Corporation is Third Federal Savings and Loan Association of Cleveland.
The accounting and reporting policies followed by the Company conform in all material respects to U.S. GAAP and to general practices in the financial services industry. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates. The allowance for credit losses, the valuation of deferred tax assets, and the determination of pension obligations are particularly subject to change.
The unaudited interim consolidated financial statements reflect all adjustments of a normal recurring nature which, in the opinion of management, are necessary to present fairly the financial condition of the Company at June 30, 2021, and its results of operations and cash flows for the periods presented. Such adjustments are the only adjustments reflected in the unaudited interim financial statements.
In accordance with SEC Regulation S-X for interim financial information, these statements do not include certain information and footnote disclosures required for complete audited financial statements. The Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2020 contains audited consolidated financial statements and related notes, which should be read in conjunction with the accompanying interim consolidated financial statements. The results of operations for the interim periods disclosed herein are not necessarily indicative of the results that may be expected for the fiscal year ending September 30, 2021 or for any other period.
The Company has determined that all recently issued accounting pronouncements that have not yet been adopted will not have a material impact on the Company's consolidated financial statements or do not apply to its operations.
Effective October 1, 2020, the Company adopted ASU 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, as amended, which replaces the incurred loss methodology with an expected loss methodology referred to as the CECL methodology. Refer to NOTE 4. LOANS AND ALLOWANCE FOR CREDIT LOSSES for additional details.
Per ASC 606, Revenue from Contracts with Customers, an entity is required to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to receive in exchange for those goods or services. Three of the Company's revenue streams within scope of Topic 606 are the sales of REO, interchange income and deposit account and other transaction-based service fee income. Those streams are immaterial and therefore quantitative information regarding these streams is not disclosed.

2.EARNINGS PER SHARE
Basic earnings per share is the amount of earnings available to each share of common stock outstanding during the reporting period. Diluted earnings per share is the amount of earnings available to each share of common stock outstanding during the reporting period adjusted to include the effect of potentially dilutive common shares. For purposes of computing basic earnings per share, outstanding shares include shares held by the public, shares held by the ESOP that have been allocated to participants or committed to be released for allocation to participants, and the 227,119,132 shares held by Third Federal Savings, MHC. For purposes of computing dilutive earnings per share, stock options and restricted and performance share units with a dilutive impact are added to the outstanding shares used in the basic earnings per share calculation. Unvested shares awarded pursuant to the Company's restricted stock plans are treated as participating securities in the computation of EPS pursuant to the two-class method as they contain nonforfeitable rights to dividends. The two-class method is an earnings allocation that determines EPS for each class of common stock and participating security. Performance share units, determined to be contingently issuable and not participating securities, are excluded from the calculation of basic EPS. At June 30, 2021
10

and 2020, respectively, the ESOP held 3,683,386 and 4,116,726 shares, respectively, that were neither allocated to participants nor committed to be released to participants.

The following is a summary of the Company's earnings per share calculations.
  For the Three Months Ended June 30,
  2021 2020
  Income Shares Per share
amount
Income Shares Per share
amount
  (Dollars in thousands, except per share data)
Net income $ 15,981  $ 26,840 
Less: income allocated to restricted stock units 368  422 
Basic earnings per share:
Income available to common shareholders $ 15,613  276,864,229  $ 0.06  $ 26,418  275,956,011  $ 0.10 
Diluted earnings per share:
Effect of dilutive potential common shares 2,067,203  1,565,870 
Income available to common shareholders $ 15,613  278,931,432  $ 0.06  $ 26,418  277,521,881  $ 0.10 
  For the Nine Months Ended June 30,
  2021 2020
  Income Shares Per share
amount
Income Shares Per share
amount
  (Dollars in thousands, except per share data)
Net income $ 63,992  $ 69,739 
Less: income allocated to restricted stock units 1,181  1,220 
Basic earnings per share:
Income available to common shareholders $ 62,811  276,597,435  $ 0.23  $ 68,519  275,789,040  $ 0.25 
Diluted earnings per share:
Effect of dilutive potential common shares 1,894,848  2,053,613 
Income available to common shareholders $ 62,811  278,492,283  $ 0.23  $ 68,519  277,842,653  $ 0.25 
    
    The following is a summary of outstanding stock options that are excluded from the computation of diluted earnings per share because their inclusion would be anti-dilutive.
  For the Three Months Ended June 30, For the Nine Months Ended June 30,
  2021 2020 2021 2020
Options to purchase shares —  2,441,700  403,900  573,500 
Restricted and performance stock units —  55,553  —  48,265 

3.INVESTMENT SECURITIES
Investments available for sale are summarized in the tables below. Accrued interest in the periods presented is $883 and $1,121 as of June 30, 2021 and September 30, 2020, respectively, and is reported in accrued interest receivable on the unaudited CONSOLIDATED STATEMENTS OF CONDITION.
  June 30, 2021
  Amortized
Cost
Gross
Unrealized
Fair
Value
  Gains Losses
REMICs $ 411,127  $ 3,343  $ (802) $ 413,668 
Fannie Mae certificates 5,588  189  (1) 5,776 
Total $ 416,715  $ 3,532  $ (803) $ 419,444 

11

  September 30, 2020
  Amortized
Cost
Gross
Unrealized
Fair
Value
  Gains Losses
REMICs $ 441,419  $ 6,043  $ (259) $ 447,203 
Fannie Mae certificates 5,965  270  —  6,235 
Total $ 447,384  $ 6,313  $ (259) $ 453,438 

Gross unrealized losses on available for sale securities and the estimated fair value of the related securities, aggregated by the length of time the securities have been in a continuous loss position, at June 30, 2021 and September 30, 2020, were as follows:
June 30, 2021
Less Than 12 Months 12 Months or More Total
Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss
Available for sale—
  REMICs $ 146,334  $ 758  $ 7,300  $ 44  $ 153,634  $ 802 
Fannie Mae certificates —  —  44  44 
Total $ 146,334  $ 758  $ 7,344  $ 45  $ 153,678  $ 803 

September 30, 2020
Less Than 12 Months 12 Months or More Total
Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss
Available for sale—
  REMICs $ 105,566  $ 259  $ —  $ —  $ 105,566  $ 259 
We believe the unrealized losses on investment securities were attributable to changes in market interest rates. The contractual terms of U.S. government and agency obligations do not permit the issuer to settle the security at a price less than the par value of the investment. The contractual cash flows of mortgage-backed securities are guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae. REMICs are issued by or backed by securities issued by these governmental agencies. It is expected that the securities would not be settled at a price substantially less than the amortized cost of the investment. The U.S. Treasury Department established financing agreements in 2008 to ensure Fannie Mae and Freddie Mac meet their obligations to holders of mortgage-backed securities that they have issued or guaranteed.

Since the decline in value is attributable to changes in market interest rates and not credit quality and because the Company has neither the intent to sell the securities nor is it more likely than not the Company will be required to sell the securities for the time periods necessary to recover the amortized cost, the Company expects to receive all contractual cash flows from these investments. Therefore, no allowance for credit losses is recorded with respect to securities as of June 30, 2021.

12

4.LOANS AND ALLOWANCE FOR CREDIT LOSSES
LOAN PORTFOLIOS
Loans held for investment consist of the following:
June 30,
2021
September 30,
2020
Real estate loans:
Residential Core $ 10,366,651  $ 10,774,845 
Residential Home Today 67,124  75,166 
Home equity loans and lines of credit 2,159,132  2,232,236 
Construction 77,484  47,985 
Real estate loans 12,670,391  13,130,232 
Other loans 2,701  2,581 
Add (deduct):
Deferred loan expenses, net 43,922  42,459 
Loans in process (49,299) (25,273)
Allowance for credit losses on loans (66,435) (46,937)
Loans held for investment, net $ 12,601,280  $ 13,103,062 
Loans are carried at amortized cost, which includes outstanding principal balance adjusted for any unamortized premiums or discounts, net of deferred fees and expenses. Accrued interest is $31,409 and $35,513 as of June 30, 2021 and September 30, 2020, respectively, and is reported in accrued interest receivable on the unaudited CONSOLIDATED STATEMENTS OF CONDITION.
A large concentration of the Company’s lending is in Ohio and Florida. As of June 30, 2021 and September 30, 2020, the percentage of aggregate Residential Core, Home Today and Construction loans held in Ohio was 55% and 56%, respectively, and the percentage held in Florida was 18% and 17%, respectively. As of June 30, 2021 and September 30, 2020, home equity loans and lines of credit were concentrated in the states of Ohio (29% as of both dates), Florida (20% and 19%, respectively), and California (15% and 16%, respectively).
Residential Core mortgage loans represent the largest portion of the residential real estate portfolio. While the Company believes overall credit risk is low based on the nature, composition, collateral, products, lien position and performance of the portfolio, it could be affected by the duration and depth of the impact from COVID-19. The portfolio does not include loan types or structures that have experienced severe performance problems at other financial institutions (sub-prime, no documentation or pay-option adjustable-rate mortgages). The portfolio contains "Smart Rate" adjustable-rate mortgage loans whereby the interest rate is locked initially for mainly three or five years then resets annually, subject to various re-lock options available to the borrower. Although the borrower is qualified for its loan at a higher rate than the initial rate offered, the adjustable-rate feature may impact a borrower's ability to afford the higher payments upon rate reset during periods of rising interest rates while this repayment risk may be reduced in a declining or low rate environment. With limited historical loss experience compared to other types of loans in the portfolio, judgment is required by management in assessing the allowance required on adjustable-rate mortgage loans. The principal amount of adjustable-rate mortgage loans included in the Residential Core portfolio was $4,840,894 and $5,122,266 at June 30, 2021 and September 30, 2020, respectively.
Home Today was an affordable housing program targeted to benefit low- and moderate-income home buyers and most loans under the program were originated prior to 2009. No new loans were originated under the Home Today program after September 30, 2016. Home Today loans have greater credit risk than traditional residential real estate mortgage loans. At June 30, 2021 and September 30, 2020, approximately 11% and 12%, respectively, of Home Today loans include private mortgage insurance coverage. The majority of the coverage on these loans was provided by PMI Mortgage Insurance Co.(PMIC), which was seized by the Arizona Department of Insurance in 2011 and currently pays all claim payments at 77.5%. Appropriate adjustments have been made to the Company’s affected valuation allowances and charge-offs, and estimated loss severity factors were adjusted accordingly for loans evaluated collectively. The amount of loans in the Company's owned residential portfolio covered by mortgage insurance provided by PMIC as of June 30, 2021 and September 30, 2020, respectively, was $16,469 and $20,649, of which $15,513 and $19,681 was current. The amount of loans in the Company's owned residential portfolio covered by mortgage insurance provided by Mortgage Guaranty Insurance Corporation (MGIC) as
13

of June 30, 2021 and September 30, 2020, respectively, was $8,721 and $12,381, of which $8,300 and $12,381 was current. As of June 30, 2021, MGIC's long-term debt rating, as published by the major credit rating agencies, did not meet the requirements to qualify as "high credit quality"; however, MGIC continues to make claim payments in accordance with its contractual obligations and the Company has not increased its estimated loss severity factors related to MGIC's claim paying ability. No other loans were covered by mortgage insurers that were deferring claim payments or which were assessed as being non-investment grade.
Loans held for sale include loans originated within the parameters of programs established by Fannie Mae, for sale to Fannie Mae, and loans originated for the held for investment portfolio that are later identified for sale. During the three and nine months ended June 30, 2021 and June 30, 2020, reclassifications to the held for sale portfolio included loans that were sold during the period, including those in contracts pending settlement at the end of the period, and loans originated for the held for investment portfolio that were later identified for sale. At June 30, 2021 and September 30, 2020, respectively, mortgage loans held for sale totaled $6,931 and $36,871. During the three and nine months ended June 30, 2021, the principal balance of loans sold was $116,566 and $634,034, respectively, including $152 in contracts pending settlement. During the three and nine months ended June 30, 2020, the principal balance of loans sold was $314,913 and $638,160, respectively, including $45,231 in contracts pending settlement.
Home equity loans and lines of credit, which are comprised primarily of home equity lines of credit, represent a significant portion of the residential real estate portfolio and include monthly principal and interest payments throughout the entire term. Once the draw period on lines of credit has expired, the accounts are included in the home equity loan balance. The full credit exposure on home equity lines of credit is secured by the value of the collateral real estate at the time of origination. The impact of COVID-19 on employment, the general economy and, potentially, housing prices may adversely affect credit performance within the home equity loans and lines of credit portfolio.
The Company originates construction loans to individuals for the construction of their personal single-family residence by a qualified builder (construction/permanent loans). The Company’s construction/permanent loans generally provide for disbursements to the builder or sub-contractors during the construction phase as work progresses. During the construction phase, the borrower only pays interest on the drawn balance. Upon completion of construction, the loan converts to a permanent amortizing loan without the expense of a second closing. The Company offers construction/permanent loans with fixed or adjustable-rates, and a current maximum loan-to-completed-appraised value ratio of 85%. The Company also has one loan outstanding to a non-profit organization for a multi-use building project.
Other loans are comprised of loans secured by certificate of deposit accounts, which are fully recoverable in the event of non-payment, and forgivable down payment assistance loans, which are unsecured loans used as down payment assistance to borrowers qualified through partner housing agencies. The Company records a liability for the loans which are forgiven in equal increments over a pre-determined term, subject to residency requirements.
COVID-19
    Regulatory agencies have encouraged financial institutions to work prudently with borrowers who are or may be unable to meet their contractual payment obligations because of the effects of COVID-19, as set forth in the Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus (initially issued on March 22, 2020 and revised on April 7, 2020). FASB confirmed the foregoing regulatory agencies' view, that such short-term modifications (e.g., six months) made on a good-faith basis to borrowers who were current as of the implementation date of a relief program in response to COVID-19 are not TDRs. The regulatory agencies stated that performing loans granted payment deferrals due to COVID-19 in accordance with this interagency statement are not generally considered past due or non-accrual. The revised statement provides that eligible loan modifications related to COVID-19 may also be accounted for under section 4013 of the CARES Act or in accordance with ASC 310-40. The CARES Act offers temporary relief from TDRs on modifications made as a result of COVID-19 that were not more than 30 days past due as of December 31, 2019. The Company has elected to apply the temporary suspension of TDR requirements provided by the revised interagency statement for eligible loan modifications. For loan modifications that are not eligible for the suspension offered by the revised interagency statement, the Company considers the CARES Act to evaluate loan modifications within its scope, or existing TDR evaluation policies if the modification does not fall within the scope of these Acts.
As of June 30, 2021, some of our borrowers have experienced unemployment or reduced income as a result of the COVID-19 global pandemic and have requested some type of loan payment forbearance. At June 30, 2021 and September 30, 2020, respectively, active forbearance plans offered to borrowers affected by COVID-19 totaled $42,817 and $165,642, of which $5,311 and $15,623 are classified as troubled debt restructurings due to either their classification as a TDR prior to the COVID-19 forbearance or not meeting the criteria to be exempt from TDR classification. Forbearance plans allow borrowers experiencing temporary financial hardship to defer a limited number of payments to a later time and are initially offered for a
14

three-month period, which may be extended for borrowers that continue to be affected by COVID-19. The majority of active COVID-19 forbearance plans have been extended to at least 12 months with a weighted average term of 12.2 months.
The following table summarizes, as of June 30, 2021 and September 30, 2020, for each portfolio by geographic location, active forbearance plans by amortized cost and as a percent of total loans. The majority of our Home Today forbearance portfolio is secured by properties located in Ohio and therefore was not segregated by geographic location. 
June 30,
2021
Forbearance plans as % of respective Portfolio September 30,
2020
Forbearance plans as % of respective Portfolio
Real estate loans:
Residential Core
Ohio $ 12,925  $ 45,926 
Florida 6,679  38,804 
Other 16,216  56,107 
Total 35,820  0.34  % 140,837  1.31  %
Total Residential Home Today 1,230  1.84  % 5,391  7.21  %
Home equity loans and lines of credit
Ohio 616  2,352 
Florida 1,508  6,298 
California 1,994  4,974 
Other 1,649  5,790 
Total 5,767  0.26  % 19,414  0.86  %
Total real estate loans in active forbearance plans $ 42,817  0.34  % $ 165,642  1.26  %

The following table summarizes, as of June 30, 2021, the amortized cost of active forbearance plans according to the month during which the payment deferrals are currently scheduled to end. Forbearance plan term extensions are available, upon request.
Month ending Total
July 31, 2021 $ 18,424 
August 31, 2021 9,089 
September 30, 2021 9,633 
October 31, 2021 3,776 
November 30, 2021 853 
December 31, 2021 1,042 
Total active forbearance plans $ 42,817 

A COVID-19 forbearance plan is generally resolved through payment in full at termination of the forbearance; through a non-TDR repayment plan, where a portion of the forbearance is paid in addition to the original contractual payment over 12 months or less; or through a non-TDR capitalization, where the total of forborne payments are added to the principal balance of the account, either with or without an extension of the maturity date. If additional concessions are required beyond resolving the forbearance, the account will be considered for further modification in a troubled debt restructuring. At June 30, 2021 and September 30, 2020, there were $1,184 and $1,609 of residential mortgages and $201 and $116 equity loans and lines of credit, respectively, in short-term repayment plans and $89,661 and $31,467 of residential mortgages and $7,877 and $0 equity loans and lines of credit, respectively, whose forbearance amounts were capitalized, subsequent to COVID-19 forbearance plans, that did not require TDR classification. The amortized cost of loan modifications eligible for TDR relief, including non-TDR forbearance plans, subsequent non-TDR repayment plans and non-TDR modifications, including capitalization, was $138,830 and $194,601 at June 30, 2021 and September 30, 2020, respectively. At June 30, 2021 and September 30, 2020, forbearance plans that have subsequently required further modification in a troubled debt restructuring total $5,818 and $1,306, respectively.

15

Real estate loans in COVID-19 forbearance plans and those that are subsequently placed in non-TDR short-term repayment plans are reported as current and accruing when they are current in accordance with their revised contractual terms and were less than 30 days past due as of the implementation date of the relief program, March 13, 2020, per the revised interagency statement, or not more than 30 days past due as of December 31, 2019 per the CARES Act. Otherwise, the delinquency and resulting accrual status of these loans are determined by the lowest number of days the loan was past due on either the two aforementioned measurement dates (March 13, 2020 or December 31, 2019) or, considering the loan's revised contractual terms, the current reporting date. The uncertain and potentially tumultuous impact of COVID-19 on the economic and housing markets, as well as the risk profiles of accounts in COVID-19 forbearance plans granted by the Company, were considered in the determination of the allowance for credit losses as of June 30, 2021, as described later in this footnote.
DELINQUENCY and NON-ACCRUAL
An aging analysis of the amortized cost in loan receivables that are past due at June 30, 2021 and September 30, 2020 is summarized in the following tables. When a loan is more than one month past due on its scheduled payments, the loan is considered 30 days or more past due, regardless of the number of days in each month. Balances are adjusted for deferred loan fees and expenses and any applicable loans-in-process.
30-59
Days
Past Due
60-89
Days
Past Due
90 Days or
More Past
Due
Total Past
Due
Current Total
June 30, 2021
Real estate loans:
Residential Core $ 2,833  $ 2,455  $ 10,007  $ 15,295  $ 10,369,416  $ 10,384,711 
Residential Home Today 1,256  700  2,034  3,990  62,735  66,725 
Home equity loans and lines of credit 1,237  421  4,575  6,233  2,179,828  2,186,061 
Construction —  —  —  —  27,516  27,516 
Total real estate loans 5,326  3,576  16,616  25,518  12,639,495  12,665,013 
Other loans —  —  —  —  2,701  2,701 
Total $ 5,326  $ 3,576  $ 16,616  $ 25,518  $ 12,642,196  $ 12,667,714 

30-59
Days
Past Due
60-89
Days
Past Due
90 Days or
More Past
Due
Total Past
Due
Current Total
September 30, 2020
Real estate loans:
Residential Core $ 4,543  $ 2,344  $ 9,958  $ 16,845  $ 10,774,323  $ 10,791,168 
Residential Home Today 1,406  651  2,480  4,537  70,277  74,814 
Home equity loans and lines of credit 1,521  1,064  4,260  6,845  2,252,155  2,259,000 
Construction —  —  —  —  22,436  22,436 
Total real estate loans 7,470  4,059  16,698  28,227  13,119,191  13,147,418 
Other loans —  —  —  —  2,581  2,581 
Total $ 7,470  $ 4,059  $ 16,698  $ 28,227  $ 13,121,772  $ 13,149,999 
    
At June 30, 2021, reported delinquencies above include $626, $67 and $345 of active COVID-19 forbearance plans and subsequent short-term repayment plans in 30-59 days past due, 60-89 days past due, and 90 days or more past due, respectively. At September 30, 2020, reported delinquencies above include $1,125, $353 and $1,361 of active COVID-19 forbearance plans and subsequent short-term repayment plans in 30-59 days past due, 60-89 days past due, and 90 days or more past due, respectively. The remaining balance of active COVID-19 forbearance and subsequent short-term repayment plans are reported as current. As forbearance plans expire, those borrowers that do not enter subsequent workout plans or repay the deferred amounts in full are reported as 90 days or more past due.
At June 30, 2021 and September 30, 2020, real estate loans include $3,745 and $6,479, respectively, of loans that were in the process of foreclosure. Pursuant to the CARES Act and extensions by the Federal Housing Administration, most foreclosure proceedings are deferred until July 31, 2021 or later. The Consumer Financial Protection Bureau has amended federal mortgage
16

servicing regulations to help ensure that borrowers have time before foreclosure to explore their options, including loan modifications and selling their homes, to prevent avoidable foreclosures.
Loans are placed in non-accrual status when they are contractually 90 days or more past due. The number of days past due is determined by the number of scheduled payments that remain unpaid, assuming a period of 30 days between each scheduled payment. Loans with a partial charge-off are placed in non-accrual and will remain in non-accrual status until, at a minimum, the loss is recovered. Loans restructured in TDRs that were in non-accrual status prior to the restructurings and loans with forbearance plans that were subsequently restructured are reported in non-accrual status for a minimum of six months after restructuring. Loans restructured in TDRs with a high debt-to-income ratio at the time of modification are placed in non-accrual status for a minimum of 12 months. Additionally, home equity loans and lines of credit where the customer has a severely delinquent first mortgage loan and loans in Chapter 7 bankruptcy status where all borrowers have filed, and not reaffirmed or been dismissed, are placed in non-accrual status.
The amortized cost of loan receivables in non-accrual status is summarized in the following table. Non-accrual with no ACL describes non-accrual loans which have no quantitative or individual valuation allowance, primarily because they have already been collaterally reviewed and any required charge-offs have been taken, but may be included in consideration of qualitative allowance factors. Balances are adjusted for deferred loan fees and expenses. There are no loans 90 or more days past due and still accruing at June 30, 2021 or September 30, 2020.
June 30, 2021 September 30, 2020
Non-accrual with No ACL Total
Non-accrual
Total
Non-accrual
Real estate loans:
Residential Core $ 27,060  $ 28,825  $ 31,823 
Residential Home Today 8,236  8,817  10,372 
Home equity loans and lines of credit 10,094  11,543  11,174 
Total non-accrual loans $ 45,390  $ 49,185  $ 53,369 
At June 30, 2021 and September 30, 2020, respectively, the amortized cost in non-accrual loans includes $32,669 and $36,835 which are performing according to the terms of their agreement, of which $17,617 and $20,334 are loans in Chapter 7 bankruptcy status, primarily where all borrowers have filed, and have not reaffirmed or been dismissed.
Interest on loans in accrual status is recognized in interest income as it accrues, on a daily basis. Accrued interest on loans in non-accrual status is reversed by a charge to interest income no later than 90 days past due and income is subsequently recognized only to the extent cash payments are received. The Company has elected not to measure an allowance for credit losses on accrued interest receivable amounts since amounts are written off timely. Cash payments on loans in non-accrual status are applied to the oldest scheduled, unpaid payment first. The amount of interest income recognized on non-accrual loans was $201 and $646, and $225 and $827 for the three and nine months ended June 30, 2021 and June 30, 2020, respectively. At June 30, 2021 and September 30, 2020, the balance of accrued interest receivable includes $1,243 and $2,540 of unpaid interest on active COVID-19 forbearance plans, respectively. Cash payments on loans with a partial charge-off are applied fully to principal, then to recovery of the charged off amount prior to interest income being recognized, except cash payments may be applied to interest capitalized in a restructuring when collection of remaining amounts due is considered probable. A non-accrual loan is generally returned to accrual status when contractual payments are less than 90 days past due. However, a loan may remain in non-accrual status when collectability is uncertain, such as a TDR that has not met minimum payment requirements, a loan with a partial charge-off, an equity loan or line of credit with a delinquent first mortgage greater than 90 days past due, or a loan in Chapter 7 bankruptcy status where all borrowers have filed, and have not reaffirmed or been dismissed.
17

ALLOWANCE FOR CREDIT LOSSES
For all classes of loans, a loan is considered collateral-dependent when, based on current information and events, the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the sale of the collateral or foreclosure is probable. Factors considered in determining that a loan is collateral-dependent may include the deteriorating financial condition of the borrower indicated by missed or delinquent payments, a pending legal action, such as bankruptcy or foreclosure, or the absence of adequate security for the loan.
Charge-offs on residential mortgage loans, home equity loans and lines of credit and construction loans are recognized when triggering events, such as foreclosure actions, short sales, or deeds accepted in lieu of repayment, result in less than full repayment of the amortized cost in the loans.
Partial or full charge-offs are also recognized for the amount of credit losses on loans considered collateral-dependent when the borrower is experiencing financial difficulty as described by meeting the conditions below.

For residential mortgage loans, payments are greater than 180 days delinquent;
For home equity lines of credit, equity loans, and residential loans restructured in a TDR, payments are greater than 90 days delinquent;
For all classes of loans in a TDR forbearance plan, original payments are greater than 150 days past due;
For all classes of loans restructured in a TDR with a high debt-to-income ratio at time of modification;
For all classes of loans, a sheriff sale is scheduled within 60 days to sell the collateral securing the loan;
For all classes of loans, all borrowers have been discharged of their obligation through a Chapter 7 bankruptcy;
For all classes of loans, within 60 days of notification, all borrowers obligated on the loan have filed Chapter 7 bankruptcy and have not reaffirmed or been dismissed;
For all classes of loans, a borrower obligated on a loan has filed bankruptcy and the loan is greater than 30 days delinquent;
For all classes of loans, a forbearance plan has been extended greater than 12 months; and
For all classes of loans, it becomes evident that a loss is probable.

Collateral-dependent residential mortgage loans and construction loans are charged off to the extent the amortized cost in the loan, net of anticipated mortgage insurance claims, exceeds the fair value, less estimated costs to dispose of the underlying property. Management can determine if the loan is uncollectible for reasons such as foreclosures exceeding a reasonable time frame and recommend a full charge-off. Home equity loans or lines of credit are charged off to the extent the amortized cost in the loan plus the balance of any senior liens exceeds the fair value, less estimated costs to dispose of the underlying property, or management determines the collateral is not sufficient to satisfy the loan. A loan in any portfolio identified as collateral-dependent will continue to be reported as such until it is no longer considered collateral-dependent, is less than 30 days past due and does not have a prior charge-off. A loan in any portfolio that has a partial charge-off will continue to be individually evaluated for credit loss until, at a minimum, the loss has been recovered.
Residential mortgage loans, home equity loans and lines of credit and construction loans restructured in TDRs that are not evaluated based on collateral are separately evaluated for credit losses on a loan by loan basis at the time of restructuring and at each subsequent reporting date for as long as they are reported as TDRs. The credit loss evaluation is based on the present value of expected future cash flows discounted at the effective interest rate of the original loan. Expected future cash flows include a discount factor representing a potential for default. Valuation allowances are recorded for the excess of the amortized costs over the result of the cash flow analysis. Loans discharged in Chapter 7 bankruptcy are reported as TDRs and also evaluated based on the present value of expected future cash flows unless evaluated based on collateral. We evaluate these loans using the expected future cash flows because we expect the borrower, not liquidation of the collateral, to be the source of repayment for
18

the loan. Other loans are not considered for restructuring.
At June 30, 2021, individually evaluated loans that required an allowance were comprised only of loans evaluated for credit losses based on the present value of cash flows, such as performing TDRs, and, prior to October 1, 2020, loans with an indication of further deterioration in the fair value of the property not yet supported by a full review and collateral evaluation. All other individually evaluated loans received a charge-off, if applicable. At June 30, 2021 and September 30, 2020, respectively, allowances on individually reviewed loans evaluated for credit losses (IVAs) included those based on the present value of cash flows, such as performing TDRs, were $12,326 and $12,830, and quantitative allowances on loans with further deterioration in the fair value of the property not yet supported by a full review were $0 and $20.
The Company adopted the CECL allowance methodology as of October 1, 2020 using the modified retrospective approach, replacing the previous incurred loss methodology. The allowance for credit losses now represents the estimate of lifetime loss in our loan portfolio and unfunded loan commitments. An allowance is established using relevant available information, relating to past events, current conditions and supportable forecasts. The Company utilizes loan level regression models with forecasted economic data to derive the probability of default and loss given default factors. These factors are used to calculate the loan level credit loss over a 24-month period with an immediate reversion to historical mean loss rates for the remaining life of the loans.

Historical credit loss experience provides the basis for the estimation of expected credit losses. Qualitative adjustments to historical loss information are made for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, delinquency status or likely recovery of previous loan charge-offs. Qualitative adjustments for expected changes in environmental conditions, such as changes in unemployment rates, property values or other relevant factors are recognized when forecasted economic data used in the model differs from management's view or contains significant unobservable changes within a short period, particularly when those changes are directionally positive. Identifiable model limitations may also lead to qualitative adjustments. For the three and nine months ended June 30, 2021, a qualitative adjustment was made to the allowance for credit losses to align forecasted model results with management's view of the future. The published economic forecasts were more optimistic than management felt was appropriate due to the continued uncertainty in the economy related to the COVID-19 pandemic. A qualitative adjustment was also made to reflect the expected recovery of loan amounts previously charged off, beyond what the model is able to project. This adjustment resulted in a negative ending balance on the allowance for credit losses for the Home Today portfolio, where recoveries are expected to exceed charge-offs over the remaining life of that portfolio. Adjustments are evaluated quarterly based on current facts and circumstances.

Activity in the allowance for credit losses by portfolio segment is summarized as follows. See Note 11. LOAN COMMITMENTS AND CONTINGENT LIABILITIES for further details on the allowance for unfunded commitments.
  For the Three Months Ended June 30, 2021
  Beginning
Balance
Provisions Charge-offs Recoveries Ending
Balance
Real estate loans:
Residential Core $ 46,546  $ (156) $ (876) $ 546  $ 46,060 
Residential Home Today (705) (136) (140) 720  (261)
Home equity loans and lines of credit 21,236  (1,811) (587) 1,348  20,186 
Construction 672  (222) —  —  450 
Total real estate loans $ 67,749  $ (2,325) $ (1,603) $ 2,614  $ 66,435 
Total Unfunded Loan Commitments (1)
$ 21,953  $ 1,325  $ —  $ —  $ 23,278 
Total Allowance for Credit Losses $ 89,702  $ (1,000) $ (1,603) $ 2,614  $ 89,713 
(1) Total allowance for unfunded loan commitments is recorded in other liabilities on the CONSOLIDATED STATEMENTS OF CONDITION (unaudited) and primarily relates to undrawn home equity lines of credit.
19

  For the Three Months Ended June 30, 2020
  Beginning
Balance
Provisions Charge-offs Recoveries Ending
Balance
Real estate loans:
Residential Core $ 17,367  $ 2,125  $ (440) $ 573  $ 19,625 
Residential Home Today 5,070  (12) (220) 680  5,518 
Home equity loans and lines of credit 21,945  (2,113) (591) 1,175  20,416 
Construction —  —  — 
Total real estate loans $ 44,387  $ —  $ (1,251) $ 2,428  $ 45,564 

  For the Nine Months Ended June 30, 2021
  Beginning
Balance
Adoption
 of
ASU 2016-13
Provisions Charge-offs Recoveries Ending
Balance
Real estate loans:
Residential Core $ 22,381  $ 23,927  $ (424) $ (1,345) $ 1,521  $ 46,060 
Residential Home Today 5,654  (5,217) (1,944) (448) 1,694  (261)
Home equity loans and lines of credit 18,898  5,258  (6,177) (2,035) 4,242  20,186 
Construction 127  319  —  —  450 
Total real estate loans $ 46,937  $ 24,095  $ (8,226) $ (3,828) $ 7,457  $ 66,435 
Total Unfunded Loan Commitments (1)
$ —  $ 22,052  $ 1,226  $ —  $ —  $ 23,278 
Total Allowance for Credit Losses $ 46,937  $ 46,147  $ (7,000) $ (3,828) $ 7,457  $ 89,713 
(1) Total allowance for unfunded loan commitments is recorded in other liabilities on the CONSOLIDATED STATEMENTS OF CONDITION (unaudited) and primarily relates to undrawn home equity lines of credit.

  For the Nine Months Ended June 30, 2020
  Beginning
Balance
Provisions Charge-offs Recoveries Ending
Balance
Real estate loans:
Residential Core $ 19,753    $ (478)   $ (1,397)   $ 1,747    $ 19,625 
Residential Home Today 4,209    250    (808)   1,867    5,518 
Home equity loans and lines of credit 14,946    3,228    (1,948)   4,190    20,416 
Construction   —    —    —   
Total real estate loans $ 38,913    $ 3,000    $ (4,153)   $ 7,804    $ 45,564 
CLASSIFIED LOANS
The following tables provide information about the credit quality of residential loan receivables by an internally assigned grade. Revolving loans reported at amortized cost include equity lines of credit currently in their draw period. Revolving loans converted to term are equity lines of credit that are in repayment. Equity loans and bridge loans are segregated by origination year. Loans, or the portions of loans, classified as loss are fully charged off in the period in which they are determined to be uncollectible; therefore they are not included in the following table. No Home Today loans are classified Special Mention. No construction loans are classified Substandard. Balances are adjusted for deferred loan fees and expenses and any applicable
20

loans-in-process.
Revolving Loans Revolving Loans
By fiscal year of origination Amortized Converted
2021 2020 2019 2018 2017 Prior Cost Basis To Term Total
June 30, 2021
Real estate loans:
Residential Core
Pass $ 2,127,947  $ 1,927,521  $ 857,416  $ 943,980  $ 1,108,167  $ 3,324,169  $ —  $ —  $ 10,289,200 
Special Mention 31,412  713  111  712  301  1,034  —  —  34,283 
Substandard —  4,085  3,973  4,333  5,838  42,999  —  —  61,228 
Total Residential Core 2,159,359  1,932,319  861,500  949,025  1,114,306  3,368,202  —  —  10,384,711 
Residential Home Today (1)
Pass —  —  —  —  —  55,671  —  —  55,671 
Substandard —  —  —  —  —  11,054  —  —  11,054 
Total Residential Home Today —  —  —  —  —  66,725  —  —  66,725 
Home equity loans and lines of credit
Pass 33,660  16,426  14,172  13,485  12,210  $ 7,315  1,924,856  142,291  2,164,415 
Special Mention —  —  13  —  —  10  2,579  474  3,076 
Substandard —  —  203  57  389  33  5,443  12,445  18,570 
Total Home equity loans and lines of credit 33,660  16,426  14,388  13,542  12,599  7,358  1,932,878  155,210  2,186,061 
Construction
Pass 17,703  8,817  —  —  —  —  —  —  26,520 
Special Mention 996  —  —  —  —  —  —  —  996 
Total Construction 18,699  8,817  —  —  —  —  —  —  27,516 
Total real estate loans
Pass 2,179,310  1,952,764  871,588  957,465  1,120,377  3,387,155  1,924,856  142,291  12,535,806 
Special Mention 32,408  713  124  712  301  1,044  2,579  474  38,355 
Substandard —  $ 4,085  $ 4,176  $ 4,390  $ 6,227  $ 54,086  $ 5,443  $ 12,445  $ 90,852 
Total real estate loans $ 2,211,718  $ 1,957,562  $ 875,888  $ 962,567  $ 1,126,905  $ 3,442,285  $ 1,932,878  $ 155,210  $ 12,665,013 
(1) No new originations of Home Today loans since fiscal 2016.
The following tables provides the credit risk rating by portfolio as of the date presented.
Pass Special
Mention
Substandard Loss Total
September 30, 2020
Real estate loans:
Residential Core $ 10,748,284  $ 3,535  $ 39,349  $ —  $ 10,791,168 
Residential Home Today 62,462  —  12,352  —  74,814 
Home equity loans and lines of credit 2,241,434  3,057  14,509  —  2,259,000 
Construction 22,436  —  —  —  22,436 
Total real estate loans $ 13,074,616  $ 6,592  $ 66,210  $ —  $ 13,147,418 
The home equity lines of credit converted from revolving to term loans during the three and nine months ended June 30, 2021 totaled $3,013 and $8,808, respectively.
Residential loans are internally assigned a grade that complies with the guidelines outlined in the OCC’s Handbook for Rating Credit Risk. Pass loans are assets well protected by the current paying capacity of the borrower. Special Mention loans have a potential weakness, as evaluated based on delinquency status or nature of the product, that the Company deems to deserve management’s attention and may result in further deterioration in their repayment prospects and/or the Company’s
21

credit position. Substandard loans are inadequately protected by the current payment capacity of the borrower or the collateral pledged with a defined weakness that jeopardizes the liquidation of the debt. Also included in Substandard are performing home equity loans and lines of credit where the customer has a severely delinquent first mortgage to which the performing home equity loan or line of credit is subordinate and all loans in Chapter 7 bankruptcy status where all borrowers have filed, and have not reaffirmed or been dismissed. Loss loans are considered uncollectible and are charged off when identified. Loss loans are of such little value that their continuance as bankable assets is not warranted even though partial recovery may be effected in the future.
At June 30, 2021 and September 30, 2020, respectively, $84,036 and $92,439 of TDRs individually evaluated for credit loss have adequately performed under the terms of the restructuring and are classified as Pass loans. At June 30, 2021 and September 30, 2020, respectively, $34,226 and $0 of loans classified Special Mention are residential mortgage loans and home equity lines of credit identified, after origination, as being underwritten with inaccurate income documentation, that have not yet demonstrated repayment performance over a minimum period. At June 30, 2021 and September 30, 2020, respectively, $2,158 and $3,535 of loans classified Special Mention are residential mortgage loans purchased which were current and performing at the time of purchase. These loans are designated Special Mention due to the absence of mortgage insurance coverage and potentially weaker repayment prospects when compared with the Company's originated residential Core portfolio. Substandard loans increased between the periods presented primarily due to $24,320 of forbearance plans extended greater than 12 months that are considered collateral dependent and classified Substandard, for a minimum of one year, until a sustained period of repayment performance is satisfied.
Other loans are internally assigned a grade of non-performing when they become 90 days or more past due. At June 30, 2021 and September 30, 2020, no other loans were graded as non-performing.
TROUBLED DEBT RESTRUCTURINGS
Initial concessions granted for loans restructured as TDRs may include reduction of interest rate, extension of amortization period, forbearance or other actions. Some TDRs have experienced a combination of concessions. TDRs also may occur as a result of bankruptcy proceedings. Loans discharged in Chapter 7 bankruptcy are classified as multiple restructurings if the loan's original terms had also been restructured by the Company. The amortized cost in TDRs by category as of June 30, 2021 and September 30, 2020 is shown in the tables below.    
June 30, 2021 Initial Restructuring Multiple
Restructurings
Bankruptcy Total
Residential Core $ 33,545  $ 21,211  $ 13,730  $ 68,486 
Residential Home Today 13,091  14,309  2,789  30,189 
Home equity loans and lines of credit 27,802  3,257  1,774  32,833 
Total $ 74,438  $ 38,777  $ 18,293  $ 131,508 
September 30, 2020 Initial Restructuring Multiple
Restructurings
Bankruptcy Total
Residential Core $ 32,095  $