What changed in this filing

/stocks — the workspaceLOADING

Item 9A. Controls and Procedures

2025-11-25 compared with 2024-11-22 · 330 added, 269 removed, 1881 unchanged (24% of the section changed)

2 unchanged sentences

Under the supervision of and with the participation of the Company’s management, including our principal executive officer and principal financial officer, we have evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) as of the end of the period covered by this report.

Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Act is accumulated and communicated to the issuer’s management, including its principal executive and principal financial officers, or persons

performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

Based upon that evaluation, our principal executive officer and principal financial officer concluded that, as of the end of the period covered by this report, our disclosure controls and procedures were effective to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the SEC’s rules and forms.

55 unchanged sentences

Name Title Age

Chief Information Officer, the Association

Deborah (Debbie) L.

4 unchanged sentences

Mulhern Chief Innovation Officer, the Association

Rubino Chief Information Officer, the Association 49

Rubino Chief Operating Officer, the Association

Stefanski Chief Strategy Officer, the Association 37

1 unchanged sentence

Zbanek Chief Synergy Officer, the Association 52

Long was appointed to the role of Chief Consumer Banking Officer by the Board of Directors on November 21, 2024.

The executive officers of the Company and the Association are elected annually and hold office until their respective successors are elected or until death, resignation, retirement or removal by the Board of Directors.

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Unless otherwise indicated, executive officers have held their positions for the past five years.

Carfagna was named Chief Information Officer in 2025.

He joined the organization in 2014 as a project manager on strategic business initiatives.

Following that role, he managed marketing research before moving to Information Technology in 2020.

As an IT manager, he has had responsibility for software developers working on updated programming and efficient interfaces for both internal and customer audiences, technology project managers directing system enhancements, and most recently, all information systems operations.

Carfagna holds a Bachelor’s degree in Economics from Harvard University and an MSA from the University of Notre Dame.

Deborah (Debbie) L.

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In her current role, Ms.

Long leads the Third Federal retail branch system in Ohio and Florida, Customer Care, and our operations and servicing teams.

Long leads the Third Federal retail branch system in Ohio and Florida and Customer Care.

She holds a BS from the University of Akron.

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Mulhern moved to IT management, then to operations where he managed various departments including Loan Servicing, Default Servicing and Deposit Operations.

He was named the Chief Credit Officer in August 2018, and Director of Internal Audit in June 2019, where he earned his CIA credentials.

He was named the Chief Credit Officer in 2018, and Director of Internal Audit in 2019, where he earned his CIA credentials.

Mulhern joined the Finance Department in February 2021 and served as Chief Financial Officer through 2023.

1 unchanged sentence

Prior to joining Third Federal, Mr.

Mulhern was in public accounting with Coopers & Lybrand where he earned his CPA credentials, and spent more than a decade as a small business owner.

Rubino h as been with the Association since 2000, joining the company as a business analyst.

He was named Chief Information Officer in 2021.

Mulhern was in public accounting with Coopers & Lybrand where he earned his CPA credentials (no longer active), and spent more than a decade as a small business owner.

Rubino h as been with the Association since 2000.

He was named Chief Operating Officer in 2025, after serving as Chief Information Officer since 2021.

Rubino has held a variety of leadership positions throughout the company, serving as Information Security Officer and managing several strategic areas of the company, including:

Loan Production, Customer Care, Internet Services, Operations Support and Marketing, most recently serving as Chief Marketing Officer.

Loan Production, Customer Care, Internet Services, Operations Support and Marketing, and serving as Chief Marketing Officer.

He holds both a BS in Management Information Systems and an MBA from the University of Akron.

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The ACL for off-balance sheet commitments is comprised of expected lifetime losses on unfunded loan commitments to extend credit where the obligations are not unconditionally cancellable.

As of September 30, 2024, the Company’s loan portfolio totaled $15.3 billion, and the related ACL was $70.0 million.

The Company’s off-balance sheet commitments totaled $5.4 billion, and the related ACL was $27.8 million.

The ACL is established using relevant available information, relating to past events, current conditions, and reasonable and supportable forecasts.

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Qualitative adjustments are then made to account for factors that management does not believe are captured in the Current Expected Credit Losses (“CECL”) quantitative models.

The determination of the appropriate level of the allowance for the loan portfolio inherently involves a high degree of subjectivity and requires significant estimates of current credit risks using both quantitative and qualitative analyses.

The determination of the appropriate level of the allowance for credit losses inherently involves a high degree of subjectivity and requires significant estimates of current credit risks using both quantitative and qualitative analyses.

Auditing certain aspects of the ACL, including the (1) model methodology, (2) model accuracy, (3) model assumptions, (4) interpretation of the results, and (5) use of qualitative adjustments, involves especially subjective and complex judgment.

Given the significant judgment in determining the ACL estimate, performing audit procedures to evaluate the reasonableness of management’s estimate of the ACL requires a high degree of auditor judgment and an increased extent of effort, including the need to involve our credit specialists.

the significant judgment in determining the ACL estimate, performing audit procedures to evaluate the reasonableness of management’s estimate of the ACL requires a high degree of auditor judgment and an increased extent of effort, including the need to involve our credit specialists.

How the Critical Audit Matter Was Addressed in the Audit

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Mortgage loans held for sale ($ 22,861 and $ 10,713 measured at fair value, respectively)

57,662 17,775

Loans held for investment, net:

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Retained earnings—substantially restricted 946,776 915,489

Accumulated other comprehensive income

( 15,608 ) 85,212

Accumulated other comprehensive income (loss) ( 21,231 ) ( 15,608 )

Total shareholders’ equity 1,893,924 1,862,624

81 unchanged sentences

Comprehensive income

Cumulative effect from changes in

accounting principle, net of tax 1

— — — — 7,898 — 7,898

Net income — — — — 79,588 — 79,588

2 unchanged sentences

Compensation costs for equity incentive plans — 3,875 — — — — 3,875

Purchase of treasury stock ( 361,869 shares)

— — ( 5,000 ) — — — ( 5,000 )

Share-based compensation activity

4 unchanged sentences

Comprehensive income

Cumulative effect from changes in

accounting principle, net of tax 1

— — — — 7,898 — 7,898

Net income — — — — 90,959 — 90,959

2 unchanged sentences

Compensation costs for equity incentive plans — 3,979 — — — — 3,979

Purchase of treasury stock ( 247,865 shares)

— — ( 3,234 ) — — — ( 3,234 )

Share-based compensation activity

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Net gain on the sale of loans ( 5,342 ) ( 2,747 ) ( 498 )

Net gain on sale of commercial property — — ( 181 )

Other net losses (gains) 365 ( 199 ) 810

Other net (gains) losses ( 19 ) 365 ( 199 )

Proceeds from sales of loans held for sale 116,226 114,665 43,124

Loans originated, purchased and principal repayments on loans held for sale

( 131,920 ) ( 45,082 ) ( 66,162 )

Loans originated, acquired and principal repayments on loans held for sale ( 133,102 ) ( 131,920 ) ( 45,082 )

Increase in bank owned life insurance contracts ( 10,663 ) ( 9,949 ) ( 9,355 )

Net increase in interest receivable and other assets ( 4,304 ) ( 39,360 ) ( 13,043 )

Net increase (decrease) in accrued expenses and other liabilities 13,163 36,495 ( 1,155 )

Net decrease (increase) in interest receivable and other assets 1,039 ( 4,304 ) ( 39,360 )

Net (decrease) increase in accrued expenses and other liabilities ( 13,225 ) 13,163 36,495

Net cash provided by operating activities 82,419 88,600 90,722

CASH FLOWS FROM INVESTING ACTIVITIES:

Loans originated or purchased

( 2,991,733 ) ( 3,549,306 ) ( 5,273,730 )

Loans originated or acquired ( 3,786,379 ) ( 2,991,733 ) ( 3,549,306 )

Principal repayments on loans 3,122,822 2,711,908 2,605,262

4 unchanged sentences

Real estate owned 193 1,150 484

Premises, equipment and other assets — — 389

24,582 53,119 —

Purchases of:

6 unchanged sentences

CASH FLOWS FROM FINANCING ACTIVITIES:

Net increase (decrease) in deposits 732,330 520,029 ( 72,511 )

Net increase in deposits 260,619 732,330 520,029

Net (decrease) increase in borrowers' advances for insurance and taxes ( 469 ) ( 10,780 ) 7,167

Net decrease in principal and interest owed on loans serviced ( 1,058 ) ( 101 ) ( 11,563 )

Net (decrease) increase in short-term borrowed funds ( 777,000 ) 417,000 875,000

Net increase (decrease) in principal and interest owed on loans serviced 1,575 ( 1,058 ) ( 101 )

Net increase (decrease) in short-term borrowed funds 283,000 ( 777,000 ) 417,000

Proceeds (repayments) from Fed Funds purchased — — ( 225,000 )

1 unchanged sentence

Repayment of long-term borrowed funds ( 427,000 ) ( 427,322 ) ( 77,876 )

Cash collateral/settlements received from (provided to) derivative counterparties ( 147,211 ) 88,144 162,094

Cash collateral/settlements (provided to) received from derivative counterparties

( 11,931 ) ( 147,211 ) 88,144

Acquisition or net settlement of treasury shares

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Under these agreements, service fees charged to the Company are waived provided certain average compensating balances are maintained throughout each month.

Investment Securities —Our fixed-maturity securities are accounted for on an available-for-sale basis.

Investment Securities —The Company's fixed-maturity securities are accounted for on an available-for-sale basis.

Securities held as available-for-sale are reported at fair value, with the corresponding unrealized gains and (losses), net of deferred income taxes, reported in AOCI.

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payments that increase in the future, failure of the issuer to make scheduled payments and all available information relevant to the securities collectability, changes in ratings assigned by a rating agency, and other credit enhancements that affect the securities expected performance.

Investment income consist of interest and accretion (net of amortization).

Investment income consists of interest and accretion (net of amortization).

Interest is recognized on an accrual basis using the level-yield method.

9 unchanged sentences

For derivative instruments not designated as hedging instruments, the Company recognizes gains and (losses) on the derivative instrument in current earnings during the period of change.

Mortgage Banking Activity —Mortgage loans originated or purchased and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate.

Mortgage Banking Activity —Mortgage loans originated or acquired and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate.

Mortgage loans included in pending agency contracts to sell and securitize loans are carried at fair value.

1 unchanged sentence

Net unrealized gains or losses on loans carried at fair value are recognized in a valuation allowance by charges to income.

The Company has retained servicing on loans that are sold and initially recognizes an asset for mortgage loan servicing rights based on the fair value of the servicing rights.

The Company generally retains servicing on loans that are sold and initially recognizes an asset for mortgage loan servicing rights based on the fair value of the servicing rights.

Residential mortgage loans represent the single class of servicing rights and are measured at the lower of cost or fair value on a recurring basis.

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Servicing fee income net of amortization and other loan fees collected on loans serviced for others are included in Fees and service charges, net of amortization on the CONSOLIDATED STATEMENTS OF INCOME .

Loans and Related Deferred Loan Expenses, net —Loans originated or purchased with the intent to hold into the foreseeable future are carried at unpaid principal balances adjusted for partial charge-offs, the allowance for credit losses and net deferred loan expenses.

Loans and Related Deferred Loan Expenses, net —Loans originated or acquired with the intent to hold into the foreseeable future are carried at unpaid principal balances adjusted for partial charge-offs, the allowance for credit losses and net deferred loan expenses.

Interest on loans is accrued and credited to income as earned.

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A modification granted to a borrower experiencing financial difficulty is defined as an agreement in which, for economic reasons related to a borrower’s financial difficulties, a more than insignificant concession is granted to the borrower that would not otherwise be available.

The modifications to the payment terms of a loan may include interest rate reductions, term extensions, significant payment delays or, other, or a combination thereof.

Allowance for Credit Losses —The allowance for credit losses represents the estimate of lifetime losses in our loan portfolio and off-balance sheet commitments.

The allowance for credit losses is assessed on a quarterly basis and provisions

(releases) for credit losses are made accordingly.

The modifications to the payment terms of a loan may include interest rate reductions, term extensions, significant payment delays, other concessions, or a combination thereof.

Allowance for Credit Losses —The allowance for credit losses represents the estimate of lifetime losses in the Company's loan portfolio and off-balance sheet commitments.

The allowance for credit losses is assessed on a quarterly basis and

provisions (releases) for credit losses are made accordingly.

The allowance is established using relevant available information, relating to past events, current conditions and supportable economic forecasts.

2 unchanged sentences

The allowance for credit losses is increased by recoveries and decreased by charge-offs.

Also, qualitative adjustments were made to reflect expected recovery of loan amounts previously charged-off, beyond what the model is able to project.

Also, qualitative adjustments include expected recovery of loan amounts previously charged-off, beyond what the model is able to project.

For further discussion on the allowance for credit losses, non-accrual, and modifications, see Note 5.

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The Company's policy is to release income tax effects from AOCI only when the entire portfolio to which the underlying transactions relate to is liquidated, sold or extinguished.

Revenue from Contracts with Customers —The core principle of the guidance requires an entity 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.

Revenue from Contracts with Customers —The core principle of ASC 606 requires an entity 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

1 unchanged sentence

Those streams are immaterial and therefore quantitative information regarding these streams is not disclosed.

Pension Benefits —The determination of our obligations and expense for pension benefits is dependent upon certain assumptions used in calculating such amounts.

Pension Benefits —The determination of the Company's obligations and expense for pension benefits is dependent upon certain assumptions used in calculating such amounts.

Key assumptions used in the actuarial valuations include the discount rate and expected long-term rate of return on plan assets.

15 unchanged sentences

At September 30, 2025, 2024 and 2023, potentially dilutive shares include stock options, restricted stock units and performance share units issued through share-based compensation plans.

Segment Reporting —The Company operates as a single reportable segment that derives revenues primarily by providing residential mortgage loans and deposit products to customers in the United States.

The Company's CODM is the CEO, who regularly assesses performance on a consolidated basis and decides how to allocate resources based on net income as reported in the Company's CONSOLIDATED STATEMENTS OF INCOME.

The CODM uses net income to evaluate income generated from segment assets (return on assets), compare performance to peer banks and monitor budget-to-actual results.

The CODM is also regularly provided with and reviews expense information at a level consistent with that disclosed in the Company's consolidated financial statements, including its significant expense categories:

interest expense, provisions for credit losses, salaries and employee benefits and marketing expense.

As the Company consists of one reportable segment, the segment assets are reflected on the CONSOLIDATED STATEMENTS OF CONDITION as "total assets" and the noted significant segment expenses are listed on the CONSOLIDATED STATEMENTS OF INCOME.

The Accounting policies for the segment are the same as those described in this Note 1.

Reclassification —Certain prior year amounts have been reclassified to conform with the current year presentation.

These reclassifications had no effect on the financial position or reported results of operations.

STOCK TRANSACTIONS

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TFS Financial Corporation issued 5,000,000 shares of common stock, or 1.50 % of its post-offering outstanding common stock, to Third Federal Foundation.

Pursuant to the eighth repurchase program for the repurchase of 10,000,000 shares authorized by the Board of Directors in October, 2016, no shares were repurchased during the year ended September 30, 2024, 361,869 shares were repurchased during the year ended September 30, 2023, and 337,259 shares were repurchased during the year ended September 30, 2022.

Pursuant to the eighth repurchase program for the repurchase of 10,000,000 shares authorized by the Board of Directors in October 2016, 247,865 shares were repurchased during the year ended September 30, 2025, no shares were repurchased during the year ended September 30, 2024, and 361,869 shares were repurchased during the year ended September 30, 2023.

At September 30, 2025, there were 4,944,086 shares remaining to be purchased under the eighth repurchase program.

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The risk-based capital guidelines include both a definition of capital and a framework for calculating risk-weighted assets by assigning balance sheet assets and off-balance sheet assets to broad risk categories.

In 2019, a final rule adopted by the federal banking agencies provided banking organizations with the option to phase in, over a three-year period, the adverse day-one regulatory capital effects of the adoption of the CECL accounting standard.

In 2020, as part of its response to the impact of COVID-19, U.S.

federal banking regulatory agencies issued a final rule which provides banking organizations that implement CECL during the 2020 calendar year the option to delay for two years, an estimate of CECL’s effect on regulatory capital relative to the incurred loss methodology’s effect on regulatory capital, followed by a three-year transition period, which the Association and Company have adopted.

During the two-year delay, the Association and Company added back to CET1 100% of the initial adoption impact of CECL plus 25% of the cumulative quarterly changes in the allowance for credit losses.

Beginning fiscal year 2023, the cumulative transitional amounts became fixed and are being phased out of CET1 capital ratably over three years.

At September 30, 2025 , the Association exceeded all regulatory capital requirements and is considered “well capita lized” under regulatory guidelines.

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1,721,625 17.17 % 451,207 4.50 % 651,744 6.50 %

The Association paid dividends of $ 0 and $ 40 million to the Company during the fiscal years ended September 30, 2024 and 2023, respectively.

The Association paid dividends of $ 40.0 million and $ 0 to the Company during the fiscal years ended September 30, 2025 and 2024, respectively.

As permitted under interim final rules issued by the FRS on August 12, 2011, a majority of Third Federal Savings, MHC's members eligible to vote approved Third Federal Savings, MHC waiving dividends aggregating up to $1.13 per share on the common stock of the Company for the 12 months following the special meeting of members held on July 8, 2025.

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At September 30, 2025 and September 30, 2024, investment securities included $ 50,032 and $ 68,932 , respectively, of U.S.

government obligations pledged as collateral on our open swap positions to meet requirements established by the clearing organization.

government obligations pledged as collateral on the Company's open swap positions to meet requirements established by the clearing organization.

Accrued interest on investment securities is $ 2,556 and $ 2,399 at September 30, 2025, and September 30, 2024, respectively, and is reported in accrued interest receivable on the CONSOLIDATED STATEMENTS OF CONDITION .

The following is a summary of our securities portfolio by remaining period to contractual maturity and yield at September 30, 2024.

The following is a summary of the Company's securities portfolio by remaining period to contractual maturity and by weighted average yield at September 30, 2025 and September 30, 2024.

Maturities are based on the final contractual payment dates, and do not reflect the impact of prepayments or early redemptions that may occur.

Weighted average yields are not presented on a tax-equivalent basis and are calculated by multiplying each carry value by its yield and dividing the sum of these results by the total carry values.

We did not hold any tax-free securities.

We did not hold any tax-free securities at September 30, 2025 or September 30, 2024.

September 30, 2025 September 30, 2024

7 unchanged sentences

Total $ 542,197 $ 520,659 3.54 % $ 553,559 $ 526,251 3.40 %

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 unrealized loss position, at September 30, 2024 and 2023, were as follows:

September 30, 2025

38 unchanged sentences

Residential Home Today 35,933 40,936

Home equity loans and lines of credit 3,885,307 3,030,526

Home equity lines of credit (1)

4,062,798 3,323,381

Home equity loans (1)

749,548 561,926

Construction 12,302 21,701

6 unchanged sentences

Loans held for investment, net $ 15,663,312 $ 15,322,059

(1) At and for the year ended September 30, 2025, balances of and activity related to home equity lines of credit and home equity loans are reported as separate line items.

Prior periods have been reclassified to conform to the current presentation.

Loans held for investment are carried at amortized cost, which includes outstanding principal balance adjusted for any unamortized premiums or discounts, net of deferred fees and expenses and any applicable loans-in-process.

1 unchanged sentence

A large concentration of the Company’s lending is in Ohio and Florida.

At September 30, 2024 and September 30, 2023, the percentage of aggregate Residential Core, Home Today and Construction loans secured by properties in Ohio was 58 % and 57 %, respectively, and the percentage of loans secured by properties in Florida was 17 % and 18 %, respectively.

At September 30, 2024 and September 30, 2023, home equity loans and lines of credit were concentrated in the states of Ohio ( 24 % and 26 %, respectively), Florida ( 23 % and 22 %, respectively), and California ( 17 % as of both dates).

At September 30, 2025 and September 30, 2024, the percentage of aggregate Residential Core, Home Today and Construction loans secured by properties in Ohio was 59 % and 58 %, respectively, and the percentage of loans secured by properties in Florida was 17 % as of both dates.

At September 30, 2025 and September 30, 2024, home equity lines of credit were concentrated in the states of Ohio ( 22 % and 23 %, respectively), Florida ( 21 % and 22 %, respectively), and California ( 17 % and 16 %, respectively), and home equity loans were concentrated in Ohio ( 23 % and 26 %, respectively), Florida ( 22 % and 25 %, respectively), and California ( 18 % and 19 %, respectively).

Residential Core mortgage loans represent the largest portion of the residential real estate portfolio.

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No new loans were originated under the Home Today program after 2016.

Home Today loans have greater credit risk than traditional residential real estate mortgage loans.

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.

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.

At September 30, 2024 and September 30, 2023, respectively, the amortized cost of home equity lines of credit was $ 3,361,176 and $ 2,733,275 , and the amortized cost of home equity loans and bridge loans was $ 565,840 and $ 334,006 .

Home Today loans have greater credit risk than traditional residential mortgage loans.

The Company originates construction loans to individuals for the construction of their personal single-family residence by a qualified builder (construction/permanent loans).

1 unchanged sentence

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.

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 %.

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 who qualify for the Company's down payment assistance programs, often managed in cooperation with partner housing agencies.

The Company records a liability for the down payment assistance loans which are forgiven in equal increments over a pre-determined term, subject to residency requirements.

Loans held for sale include loans originated or purchased with the intent to sell which are generally priced in alignment with secondary market pricing and may be subject to loan level pricing adjustments.

Additionally, loans originated or purchased for the held for investment portfolio may later be identified for sale and transferred to the held for sale portfolio, which may include loans originated or purchased within the parameters of programs established by Fannie Mae.

Loans held for sale include loans originated or acquired with the intent to sell which are generally priced in alignment with secondary market pricing and may be subject to loan level pricing adjustments.

Additionally, loans originated or acquired for the held for investment portfolio may later be identified for sale and transferred to the held for sale portfolio, which may include loans originated or acquired within the parameters of programs established by Fannie Mae.

During the years ended September 30, 2025 and September 30, 2024, 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.

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Residential Home Today 752 266 560 1,578 33,893 35,471

Home equity loans and lines of credit 4,134 1,121 4,360 9,615 3,917,401 3,927,016

Home equity lines of credit

4,791 1,382 5,296 11,469 4,089,196 4,100,665

Home equity loans

511 339 935 1,785 753,705 755,490

Construction — — — — 7,272 7,272

9 unchanged sentences

Residential Home Today 814 307 693 1,814 38,657 40,471

Home equity loans and lines of credit 3,271 690 3,876 7,837 3,059,444 3,067,281

Home equity lines of credit

3,556 1,014 4,078 8,648 3,351,495 3,360,143

Home equity loans

578 107 282 967 565,906 566,873

Construction — — — — 10,015 10,015

3 unchanged sentences

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

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.

11 unchanged sentences

Residential Home Today 2,858 3,032 3,506 3,672

Home equity loans and lines of credit 8,070 8,880 7,035 7,877

Home equity lines of credit

10,071 11,141 7,610 8,361

Home equity loans

1,280 1,492 460 519

Total non-accrual loans $ 33,070 $ 38,706 $ 30,513 $ 33,610

8 unchanged sentences

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 modification that has not met minimum payment requirements, a loan with a partial charge-off, a home 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.

90 days past due, or a loan in Chapter 7 bankruptcy status where all borrowers have filed, and have not reaffirmed or been dismissed.

ALLOWANCE FOR CREDIT LOSSES

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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.

The Company adopted ASU 2022-02 on October 1, 2023, which eliminated the accounting for TDRs.

As such, at September 30, 2024, there was no allowance for individually reviewed TDRs (IVAs), based on the present value of cash flows, as compared to September 30, 2023, when there was $ 9,546 .

Effective with this adoption, losses on loans with modifications to borrowers experiencing financial difficulties, previously identified as TDRs, will be estimated as described above, in the same manner as loans that have not been subject to such modifications.

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.

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.

Identifiable model limitations may also lead to qualitative adjustments, such as those made to reflect the expected recovery of loan amounts previously charged-off, beyond what the model is able to project.

The qualitative adjustments 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.

The net qualitative adjustment at September 30, 2024, was a net reduction to the allowance for credit loses of $ 5,519 , compared to a reduction of $ 13,425 at September 30, 2023.

At September 30, 2024, a portion of the allowance for credit losses that had been measured qualitatively at September 30, 2023, was included in the model-driven quantitative estimate due to enhancements in data quality.

The net qualitative adjustment at September 30, 2025, was a reduction to the allowance for credit losses of $ 1,801 , compared to a reduction of $ 5,519 at September 30, 2024.

Qualitative adjustments are evaluated quarterly, at a minimum, based on current facts and circumstances.

Partial or full charge-offs are recognized for the amount of credit losses on loans 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;

Partial or full charge-offs are recognized for the amount of credit losses on loans when the borrower is experiencing financial difficulty.

Charge-offs are taken when:

• For residential mortgage loans, payments are at least 150 days delinquent, but no later than 180 days delinquent;

• For home equity loans and lines of credit and modified residential loans, payments are greater than 90 days delinquent;

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For the Year Ended September 30, 2025

Balance Adoption of ASU 2022-02

Provisions (Releases) Charge-offs Recoveries Ending

Balance Provisions (Releases) Charge-offs Recoveries Ending

Real estate loans:

1 unchanged sentence

Residential Home Today ( 2,672 ) ( 1,555 ) ( 15 ) 1,804 ( 2,438 )

Home equity loans and lines of credit 23,047 ( 2,470 ) 5,946 ( 875 ) 2,584 28,232

Home equity lines of credit

16,590 4,400 ( 1,064 ) 2,143 22,069

Home equity loans

11,642 2,965 ( 17 ) 55 14,645

Construction 40 ( 11 ) — — 29

6 unchanged sentences

For the Year Ended September 30, 2024

Balance Provisions (Releases) Charge-offs Recoveries Ending

Balance Adoption of ASU 2022-02 Provisions (Releases) Charge-offs Recoveries Ending

Real estate loans:

1 unchanged sentence

Residential Home Today ( 1,236 ) ( 1,896 ) ( 1,533 ) ( 112 ) 2,105 ( 2,672 )

Home equity loans and lines of credit 20,032 ( 399 ) ( 665 ) 4,079 23,047

Home equity lines of credit

16,086 ( 2,468 ) 1,311 ( 842 ) 2,503 16,590

Home equity loans

6,961 ( 2 ) 4,635 ( 33 ) 81 11,642

Construction 129 — ( 109 ) — 20 40

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Residential Home Today ( 997 ) ( 2,370 ) ( 320 ) 2,451 ( 1,236 )

Home equity loans and lines of credit 19,454 ( 3,820 ) ( 954 ) 5,352 20,032

Home equity lines of credit

15,546 ( 2,784 ) ( 649 ) 3,973 16,086

Home equity loans

4,486 2,385 ( 16 ) 106 6,961

Construction 354 ( 225 ) — — 129

9 unchanged sentences

Revolving loans converted to term are home equity lines of credit that are in repayment.

Home 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;

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No Home Today loans are classified Special Mention and all construction loans are classified Pass for both periods presented.

Revolving Loans Revolving Loans

By fiscal year of origination Amortized Converted

2024 2023 2022 2021 2020 Prior Cost Basis To Term Total

Revolving Loans Amortized Cost Basis

Revolving Loans Converted to Term

By fiscal year of origination

2025 2024 2023 2022 2021 Prior Total

September 30, 2025

9 unchanged sentences

Total Residential Home Today — — — — — 35,471 — — 35,471

Home equity loans and lines of credit

Home equity lines of credit

Pass — — — — — — 4,028,977 51,726 4,080,703

1 unchanged sentence

Substandard — — — — — — 9,678 5,235 14,913

Total Home equity loans and lines of credit 305,981 164,778 57,506 18,602 5,190 14,816 3,300,466 59,677 3,927,016

Total Home equity lines of credit

— — — — — — 4,043,334 57,331 4,100,665

Home equity loans

Pass 317,633 236,210 126,622 43,623 13,831 14,336 — — 752,255

Special Mention 197 538 173 113 — 25 — — 1,046

Substandard 155 324 1,199 227 106 178 — — 2,189

Total Home equity loans

317,985 237,072 127,994 43,963 13,937 14,539 — — 755,490

Total Construction 4,998 2,274 — — — — — — 7,272

5 unchanged sentences

(1) No new originations of Home Today loans since fiscal 2016.

Revolving Loans Revolving Loans

By fiscal year of origination Amortized Converted

2023 2022 2021 2020 2019 Prior Cost Basis To Term Total

Revolving Loans Amortized Cost Basis

Revolving Loans Converted to Term

By fiscal year of origination

2024 2023 2022 2021 2020 Prior Total

September 30, 2024

9 unchanged sentences

Total Residential Home Today — — — — — 40,471 — — 40,471

Home equity loans and lines of credit

Home equity lines of credit

Pass — — — — — — 3,290,851 54,190 3,345,041

1 unchanged sentence

Substandard — — — — — — 5,880 4,880 10,760

Total Home equity loans and lines of credit 210,131 72,358 24,129 7,113 6,224 13,926 2,664,707 68,693 3,067,281

Total Home equity lines of credit

— — — — — — 3,300,466 59,677 3,360,143

Home equity loans

Pass 305,870 163,969 57,254 18,461 5,147 14,621 — — 565,322

Special Mention 111 613 101 — — 51 — — 876

Substandard — 196 151 141 43 144 — — 675

Total Home equity loans

305,981 164,778 57,506 18,602 5,190 14,816 — — 566,873

Total Construction 7,932 2,083 — — — — — — 10,015

5 unchanged sentences

(1) No new originations of Home Today loans since fiscal 2016.

The following table presents gross charge-offs of residential loan receivables recorded during the fiscal year-to-date period presented.

There were no gross charge-offs in the construction loan portfolio for the period presented.

The following table presents gross charge-offs of residential loan receivables recorded during the fiscal years presented.

There were no gross charge-offs in the construction loan portfolio for the periods presented.

For the Year Ended September 30, 2025

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— — — — — 15 — — 15

Home equity loans and lines of credit

Home equity lines of credit

— — — — — — 607 457 1,064

Home equity loans

— — — — 17 — — — 17

Total real estate loans $ — $ — $ — $ — $ 17 $ 33 $ 607 $ 457 $ 1,114

For the Year Ended September 30, 2024

Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term

By fiscal year of origination

2024 2023 2022 2021 2020 Prior Total

Real estate loans:

Residential Core

$ 11 $ — $ 20 $ — $ — $ 195 $ — $ — $ 226

Residential Home Today

— — — — — 112 — — 112

Home equity lines of credit

— — — — — — 470 372 842

Home equity loans

— — 16 17 — — — — 33

Total real estate loans $ 11 $ — $ 36 $ 17 $ — $ 307 $ 470 $ 372 $ 1,213

The home equity lines of credit converted from revolving to term loans during the years ended September 30, 2025 and September 30, 2024, totaled $ 13,705 and $ 10,475 , respectively.

6 unchanged sentences

Loss loans are considered uncollectible and are charged-off when identified.

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.

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.

Other loans are internally assigned a grade of non-performing when they become 90 days or more past due.

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MODIFICATIONS TO BORROWERS EXPERIENCING FINANCIAL DIFFICULTY

On October 1, 2023, the Company adopted ASU 2022-02, which eliminates the accounting guidance for TDRs and enhances the disclosure requirements for certain loan modifications when a borrower is experiencing financial difficulty.

For additional information on the adoption, refer to Note 20.

RECENT ACCOUNTING PRONOUNCEMENTS .

To mitigate losses, the Company works with borrowers who are experiencing financial difficulty to identify solutions the borrowers can afford by entering into agreements to modify their loans.

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In evaluating the need for a subsequent modification, the borrower’s ability to repay is generally assessed utilizing a debt-to-income and cash flow analysis.

The following tables present the amortized cost of modifications by type during the period presented.

For the year ended September 30, 2024, there were no modifications made on construction loans.

For the Year Ended September 30, 2024

The following tables present the amortized cost of modifications by type in effect during the period presented for borrowers experiencing financial difficulty.

For the years ended September 30, 2025 and September 30, 2024, there were no modifications made on construction loans.

Year Ended September 30, 2025

Interest Rate Reduction

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Residential Home Today — 26 335 156 63 580 1.64 %

Home equity loans and lines of credit — 30 733 396 25 1,184 0.03 %

Home equity lines of credit — 109 284 565 — 958 0.02 %

Home equity loans — — 67 — — 67 0.01 %

Total $ — $ 1,912 $ 2,431 $ 1,372 $ 397 $ 6,112 0.04 %

The following tables present the financial effects of the loan modifications presented above to borrowers experiencing financial difficulty for the year ended September 30, 2024.

For the Year Ended September 30, 2024

Year Ended September 30, 2024

Interest Rate Reduction

Term Extension

Significant Payment Delay

Combination-Rate Reduction & Term Extension

% of Total Class

Residential Core $ 66 $ 1,416 $ 3,074 $ 842 $ 478 $ 5,876 0.05 %

Residential Home Today — 103 283 224 — 610 1.51 %

Home equity lines of credit — 30 690 305 25 1,050 0.03 %

Home equity loans — — 43 91 — 134 0.02 %

Total $ 66 $ 1,549 $ 4,090 $ 1,462 $ 503 $ 7,670 0.05 %

The following tables present the financial effects of the loan modifications presented above based on the type of modification.

For the Year Ended September 30, 2025 For the Year Ended September 30, 2024

Interest Rate Reduction

Term Extension

Interest Rate Reduction Term Extension

Weighted-Average Contractual

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Weighted-Average Years Added to Life

Weighted-Average Contractual

Interest Rate Weighted-Average Years Added to Life

Residential Core 5.88 % 3.50 % 10.5 3.96 % 2.07 % 10.3

Residential Home Today 6.69 % 3.68 % 2.4 3.93 % 2.01 % 14.9

Home equity loans and lines of credit 6.37 % 3.31 % 6.4

The performance of loans modified for borrowers experiencing financial difficulty is closely monitored by the Company to understand the effectiveness of modification efforts.

Home equity lines of credit 4.90 % 3.89 % 22.3 6.66 % 3.28 % 6.0

Home equity loans — % — % 0.0 5.29 % 3.50 % 1.8

The performance of loans modified for borrowers experiencing financial difficulty is closely monitored by the Company to evaluate the effectiveness of modification efforts.

Modifications made to borrowers experiencing financial difficulty that subsequently become 90 days or more past due under the modified terms are considered subsequently defaulted.

The table below summarizes information about modifications that were modified on or after October 1, 2023 and subsequently defaulted during the year ended September 30, 2024.

The following tables provide information, by type of modification, about loans that were modified within the last 12 months and subsequently defaulted during the years ended September 30, 2025 and September 30, 2024.

There were no home equity loans that subsequently defaulted during the years ended September 30, 2025 and September 30, 2024.

For the Year Ended September 30, 2025

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Residential Home Today — — 57 — 63 120

Home equity loans and lines of credit — — 190 — — 190

Total $ — $ 4 $ 233 $ 14 $ — $ 251

The following table presents performance by loan type on loans modified during the year ended September 30, 2024, for borrowers experiencing financial difficulty.

The loans in delinquency status primarily consisted of loans with significant payment delays, which continue to be reported delinquent based on their original contractual terms.

September 30, 2024 30-59

Past Due 60-89

Past Due 90 Days or

Due Total Past

Residential Core $ 651 $ 355 $ 1,165 $ 2,171 $ 3,705 $ 5,876

Residential Home Today 55 70 217 342 268 610

Home equity loans and lines of credit 98 — 476 574 610 1,184

Total $ 804 $ 425 $ 1,858 $ 3,087 $ 4,583 $ 7,670

TROUBLED DEBT RESTRUCTURINGS PRIOR TO THE ADOPTION OF ASU 2022-02

Prior to the adoption of ASU 2022-02 on October 1, 2023, initial concessions granted for loans restructured as TDRs include reduction of interest rate, extension of amortization period, capitalization of delinquent amounts, forbearance or other actions.

Some TDRs had experienced a combination of concessions.

TDRs also could occur as a result of bankruptcy proceedings.

Loans discharged in Chapter 7 bankruptcy were classified as multiple restructurings if the loan's original terms had also been restructured by the Company.

At September 30, 2023, $ 73,172 of TDRs individually evaluated for credit loss had adequately performed under the terms of the restructuring and were classified as Pass loans.

The amortized cost in TDRs by category, at September 30, 2023, is shown in the table below.

September 30, 2023 Initial Restructuring Multiple

Restructurings Bankruptcy Total

Residential Core $ 28,546 $ 15,730 $ 9,577 $ 53,853

Residential Home Today 9,390 10,114 1,691 21,195

Home equity loans and lines of credit 21,063 2,460 879 24,402

Home equity lines of credit — — 64 — — 64

Total $ — $ — $ 396 $ 78 $ 397 $ 871

The following tables set forth the amortized cost in TDRs restructured during the periods presented.

For all loans modified during during the years ended September 30, 2023 and September 30, 2022, the pre-modified outstanding amortized cost was not materially different from the post-modified amortized cost.

For the Year Ended September 30, 2024

Initial Restructuring Multiple

Restructurings Bankruptcy Total

Interest Rate Reduction

Term Extension

Significant Payment Delay

Combination-Rate Reduction & Term Extension Other Total

Residential Core $ — $ — $ 25 $ 14 $ — $ 39

Residential Home Today — 4 18 — — 22

Home equity loans and lines of credit 1,289 233 1 1,523

Home equity lines of credit — — 190 — — 190

Total $ — $ 4 $ 233 $ 14 $ — $ 251

For the Year Ended September 30, 2022

Initial Restructuring Multiple

Restructurings Bankruptcy Total

The following table presents performance by loan type during the years ended September 30, 2025 and September 30, 2024, on loans modified during the previous 12 months for borrowers experiencing financial difficulty.

The loans in delinquency status primarily consisted of loans with significant payment delays prior to modification, which continue to be reported delinquent based on their original contractual terms.

September 30, 2025 30-59

Past Due 60-89

Past Due 90 Days or

Due Total Past

Residential Core $ — $ 217 $ 771 $ 988 $ 3,518 $ 4,506

Residential Home Today — 54 184 238 342 580

Home equity loans and lines of credit 510 175 163 848

Home equity lines of credit — — 106 106 853 959

Home equity loans — — 67 67 — 67

Total $ — $ 271 $ 1,128 $ 1,399 $ 4,713 $ 6,112

The table below summarizes information about TDRs restructured within 12 months of the periods presented for which there was a subsequent payment default (at least 30 days past due on one scheduled payment) during the periods presented.

For the Year Ended September 30, 2023 For the Year Ended September 30, 2022

TDRs That Subsequently Defaulted Number of

Contracts Recorded

Investment Number of

Contracts Recorded

September 30, 2024 30-59

Past Due 60-89

Past Due 90 Days or

Due Total Past

Residential Core $ 651 $ 355 $ 1,165 $ 2,171 $ 3,705 $ 5,876

Residential Home Today 55 70 217 342 268 610

Home equity loans and lines of credit 1 46 2 108

Home equity lines of credit 98 — 433 531 518 1,049

Home equity loans — — 43 43 92 135

Total $ 804 $ 425 $ 1,858 $ 3,087 $ 4,583 $ 7,670

1 unchanged sentence

The Company sells certain types of loans through whole loan sales and through securitizations.

In each case, the Company retains a servicing interest in the loans or securitized loans.

The Company retains a servicing interest in the majority of loans or securitized loans.

Certain assumptions and estimates are used to determine the fair value allocated to these retained interests at the date of transfer and at subsequent measurement dates.

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This creates reinvestment risk, which is the risk that the Company may not be able to reinvest the proceeds of loan and securities prepayments at rates that are comparable to the rates earned on the loans or securities prior to receipt of the repayment.

During 2024, 2023 and 2022, $ 237,106 , $ 77,206 and $ 128,118 , respectively, of mortgage loans were securitized and/or sold including accrued interest thereon.

In these transactions, the Company retained residual interests in the form of mortgage loan servicing rights.

Primary economic assumptions used to measure the value of the Company’s retained interests at the date of sale resulting from the completed transactions were as follows (per annum):

During 2025, 2024 and 2023, $ 397,062 , $ 237,106 and $ 77,206 , respectively, of mortgage loans were securitized and/or sold including accrued interest thereon with servicing retained.

Primary economic assumptions used to measure the value of the Company’s retained servicing interests at the date of sale resulting from the completed transactions were as follows (per annum):

Primary prepayment speed assumptions (weighted average annual rate) 14.4 % 15.5 %

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and (3) the discount factor applied to future net cash flows to convert them to present value.

The Company established these factors based on independent analysis of our portfolio and reviews these assumptions periodically to ensure that they reasonably reflect current market conditions and our loan portfolio experience.

The Company established these factors based on independent analysis of its portfolio and reviews these assumptions periodically to ensure that they reasonably reflect current market conditions and its loan portfolio experience.

September 30, 2025

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Servicing rights are evaluated periodically for impairment based on the fair value of those rights.

Twenty risk tranches are used in evaluating servicing rights for impairment, segregated primarily by interest rate stratum within original term to maturity categories with additional strata for less uniform account types.

Nineteen risk tranches are used in evaluating servicing rights for impairment, segregated primarily by interest rate stratum within original term to maturity categories with additional strata for less uniform account types.

Activity in mortgage servicing rights is summarized as follows.

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The Company receives annual servicing fees ranging from 0.02 % to 0.84 % of the outstanding loan balances.

Servicing income, net of amortization of capitalized servicing rights, included in non-interest income, amounted to $ 4,255 in 2024, $ 4,516 in 2023 and $ 4,251 in 2022.

Servicing income, net of amortization of capitalized servicing rights, included in non-interest income, amounted to $ 4,301 in 2025,

$ 4,255 in 2024 and $ 4,516 in 2023.

The unpaid principal balance of mortgage loans serviced for others was approximately $ 2,134,527 , $ 1,966,634 and $ 1,933,249 at September 30, 2025, 2024 and 2023, respectively.

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Furniture, fixtures and equipment 42,576 41,958

Software 21,591 21,591

30,401 21,591

Leasehold improvements 12,093 12,563

2 unchanged sentences

Total $ 40,022 $ 33,187

(1) As of September 30, 2025, Software includes $ 8,751 of software in development.

During the years ended September 30, 2025, 2024 and 2023, depreciation and amortization expense on premises, equipment, and software was $ 4,620 , $ 4,615 and $ 4,921 , respectively.

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Additionally, all variable lease costs that are not based on an index or rate, such as "common area maintenance" costs, are expensed as incurred.

Most of the Company's leases include options to extend for periods that range from three to five years.

Most of the Company's leases include options to extend for five years.

The leases do not have early-termination options.

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September 30,

Right-of-use assets (a) $ 42,868 $ 37,517

Right-of-use assets, net of accumulated amortization (a)

$ 17,483 $ 17,841

Lease liabilities (b) $ 17,992 $ 18,304

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(a) Included in Other assets in the CONSOLIDATED STATEMENTS OF CONDITION .

Effective September 30, 2025, and for all periods presented, right-of-use assets are disclosed net of accumulated amortization.

Prior to this date they were presented as the gross amount.

At September 30, 2024, the gross right-of-use assets was $ 42,868 and accumulated amortization was $ 25,027 .

(b) Included in Accrued expenses and other liabilities in the CONSOLIDATED STATEMENTS OF CONDITION

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The FDIC places restrictions on banks with regard to issuing brokered deposits based on the bank's capital classification.

As a well-capitalized institution at September 30, 2024 and September 30, 2023, the Association may accept brokered deposits without FDIC restrictions.

As a well-capitalized institution at September 30, 2025 and 2024, the Association may accept brokered deposits without FDIC restrictions.

The scheduled maturity of certificates of deposit is summarized in the table below, which include the effective maturities and fixed interest rates of the $575,000 of brokered CDs that are tied to interest rate swaps discussed in Note 17.

130 unchanged sentences

Deferred tax liabilities:

FHLB stock basis difference — 5,135

Mortgage servicing rights 1,883 1,613

2 unchanged sentences

Lease ROU asset 4,135 4,173

Fair value adjustment

Deferred loan costs, net of fees 15,568 15,576

19 unchanged sentences

The Company recognizes interest and penalties on income tax assessments or income tax refunds, where applicable, in the financial statements as a component of its provision for income taxes.

The Company recognized $ 7 , $ 0 , and $ 0 of interest expense or penalties on income tax assessments, and $ 0 , $ 0 , and $ 34 of interest on income tax refunds related to net operating loss carry-backs during the years ended September 30, 2024, 2023 and 2022, respectively.

The Company recognized $ 0 , $ 7 , and $ 0 of interest expense or penalties on income tax assessments during the years ended September 30, 2025, 2024 and 2023, respectively.

There was no interest related to income tax assessments accrued at September 30, 2025 or 2024.

3 unchanged sentences

With few exceptions, the Company is no longer subject to income tax examinations in its major jurisdictions for tax years prior to 2022.

On July 4, 2025, H.R.

1, commonly referred to as the One Big Beautiful Bill Act, (the "Act"), was signed into law.

The Act makes various provisions of the 2017 Tax Cuts and Jobs Act permanent.

The Company continues to evaluate the future impacts of these provisions, and does not expect the Act to have a material impact on the Company's financial statements.

The Company makes certain investments in limited partnerships which invest in affordable housing projects that qualify for the LIHTC.

11 unchanged sentences

There were no settlement adjustments made during the fiscal years 2025 or 2024.

As of September 30, 2024, the Plan utilizes a liability-driven investing (LDI) strategy.

The LDI strategy de-risks the Plan by allocating more to long-duration, fixed income assets.

The Plan's target asset allocation is currently 80 % in LDI fixed income and 20 % in equity.

The Company’s Board of Directors approved the termination of the Plan, effective December 31, 2025, with the final transfer of assets expected within nine to 12 months of plan termination.

In anticipation of the plan termination, certain assumptions were changed to determine the projected benefit obligation which include the following:

• Retirees and 20 % of active and terminated vested participants are valued assuming a group annuity purchase.

• The remaining 80 % of active and terminated vested participants are valued assuming lump sum payments, using prescribed lump sum segment rates for August 2025 and the prescribed mortality assumption for 2025.

Those assumption changes resulted in a net decrease of $ 3,502 in the benefit obligation at September 30, 2025.

The company is in the process of notifying plan participants and the appropriate regulatory bodies.

The termination is not expected to have any material impact on the Company's liquidity or capital resources.

At September 30, 2025, the Plan continues to use an LDI strategy;

however, during fiscal year 2025 the target allocation mix changed to 80 % LDI fixed income and 20 % in cash, from 80 % in LDI fixed income and 20 % in equity at September 30, 2024.

This fully derisked structure reduces financial volatility as the plan moves toward termination.

The following table sets forth the change in projected benefit obligation for the defined benefit plan:

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Amortization of net loss and other — 547 1,020

Recognized net loss due to settlement — — 882

Net periodic benefit (income) cost

2 unchanged sentences

The following table summarizes Plan assets measured at fair value on a recurring basis as of September 30, 2025 and 2024.

FAIR VALUE for more information on how our fair value hierarchy is evaluated:

FAIR VALUE for more information on how the Company's fair value hierarchy is evaluated:

Recurring Fair Value Measurements at Reporting Date Using

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Fixed income:

government obligations

Mutual Bond Fund

10,158 10,158 — —

6 unchanged sentences

68,931 10,158 58,773 —

Mutual equity funds

$ 76,809 $ 18,036 $ 58,773 $ —

$ 81,216 $ 19,025 $ 62,191 $ —

(1) Plan assets measured at fair value on a recurring basis excludes approximately $ 1,382 of net unsettled security transactions.

11 unchanged sentences

Government strips 9,024 — 9,024 —

Asset-Backed Securities

Total fixed income 63,998 1,807 62,191 —

Mutual equity funds 16,624 16,624 — —

Total $ 70,532 $ 19,342 $ 51,190 $ —

$ 81,216 $ 19,025 $ 62,191 $ —

(1) Plan assets measured at fair value on a recurring basis excludes approximately 1,094 of net unsettled security transactions .

There are no redemption restrictions on Plan assets at September 30, 2025.

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If warranted, the assumption is modified.

The following table provides estimates of expected future benefit payments during each of the next five fiscal years, as well as in the aggregate for years six through 10.

Additionally, the table includes the minimum employer contributions expected during the next fiscal year:

Expected Benefit Payments During the Fiscal Years Ending September 30:

Aggregate expected benefit payments during the five fiscal year period beginning October 1, 2029, and ending September 30, 2034 22,690

Minimum employer contributions expected to be paid during the fiscal year ending September 30, 2025 —

During the termination period, future benefit payments are expected to be $ 9,620 .

Since the plan is fully funded, no minimum employer contributions are expected.

For the fiscal years ended September 30, 2025, 2024, and 2023, AOCI includes pretax net actuarial losses of $ 4,680 , $ 4,484 , and $ 11,862 , respectively, which have not been recognized as components of net periodic benefit costs as of the measurement date.

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Shares that are committed to be released will be allocated to participants at the end of the plan year (December 31).

ESOP shares that are unallocated or not yet committed to be released totaled 2,275,031 at September 30, 2024, and had a fair market value of $ 34,830 .

ESOP shares that are unallocated or not yet committed to be released totaled 1,841,691 at September 30, 2025,

and had a fair market value of $ 29,974 .

Participants have the option to receive dividends on allocated shares in cash or leave the dividend in the ESOP.

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The following is a summary of the status of the Company’s restricted stock units as of September 30, 2025, and changes therein during the year then ended.

No awards were forfeited during the year ended September 30, 2024.

Awarded Weighted

Awarded Weighted Average Grant Date Fair Value

Outstanding at September 30, 2024 1,139,665 $ 12.49

1 unchanged sentence

( 132,354 ) $ 14.25

( 200 ) 12.94

Outstanding at September 30, 2025 (1) 1,185,811 $ 12.31

6 unchanged sentences

For performance stock units, fair value is estimated as the product of the number of performance units granted, adjusted for the probability of achievement, and the grant date market price of the Company’s common stock.

The Company recognizes compensation expense for the fair value of performance share units on a straight-line basis over the requisite service period, based on the performance condition that is probable of achievement.

The Company recognizes compensation expense for the fair value of performance share units on a straight-line basis over the

requisite service period, based on the performance condition that is probable of achievement.

Probability of achievement is reassessed at each reporting period and the cumulative effect of a change in estimate, if any, is recognized in the period of change.

2 unchanged sentences

No awards were forfeited during the year ended September 30, 2025.

Awarded Weighted

Awarded Weighted Average Grant Date Fair Value

Outstanding at September 30, 2024 213,445 14.45

135,300 12.58

( 50,445 ) 17.80

Performance adjustment

7 unchanged sentences

The following is a summary of the Company’s stock option activity and related information for the Equity Plan for the year ended September 30, 2025.

There were no stock options exercised or forfeited during the year ended September 30, 2024.

There were no stock options granted during the years ended 2023 and 2022.

Stock Options Weighted

2 unchanged sentences

Outstanding at September 30, 2024 2,189,675 $ 15.40 2.56 $ —

Granted 12,000 $ 13.23

( 107,400 ) $ 14.77

( 600 ) $ 12.94

( 863,800 ) $ 14.87

Outstanding at September 30, 2025 1,229,875 $ 15.81 2.95 $ 57,951

2 unchanged sentences

The fair values of the stock options were estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions.

There were no stock options granted during the year ended September 30, 2023.

Expected dividend yield

8.54 % 8.73 %

Expected volatility

29.14 % 26.50 %

Risk-free interest rate

3.95 % 4.18 %

Expected option term (in years)

The expected dividend yield for 2024 was estimated on the then-current annualized dividend payout of $ 1.13 per share, which was not expected to change.

The expected dividend yields for 2025 and 2024 were estimated on the then-current annualized dividend payouts of $ 1.13 per share at both dates, which was the best estimate available on the measurement date.

Volatility of the company's stock was used in the estimation of fair value.

2 unchanged sentences

The five and seven year Treasury yield in effect at the time of the grant provides the risk free rate of return for periods within the expected term of the options.

The weighted average grant date fair value of options granted during the year ended September 30, 2024 was $ 1.22 .

The weighted average grant date fair value of options granted during the years ended September 30, 2025 and 2024 was $ 1.51 and $ 1.22 , respectively.

Expected future compensation relating to the non-vested options outstanding as of September 30, 2025 is $ 125 over a weighted average period of 1.16 years.

4 unchanged sentences

Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract.

Commitments to originate or purchase loans generally have fixed expiration dates of 60 to 360 days or other termination clauses and may require payment of a fee.

Commitments to originate or acquire loans generally have fixed expiration dates of 60 to 360 days or other termination clauses and may require payment of a fee.

Unfunded commitments related to home equity lines of credit generally expire 10 years following the date that the line of credit was established, subject to various conditions including compliance with payment obligation, adequacy of collateral securing the line and maintenance of a satisfactory credit profile by the borrower.

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LOANS AND ALLOWANCES FOR CREDIT LOSSES for discussion on credit loss methodology.

Interest rate risk on commitments to extend credit results from the possibility that interest rates may have moved unfavorably from the position of the Company since the time the commitment was made.

At September 30, 2024, the Company had commitments to originate or purchase loans and related allowances as follows:

Interest rate risk on commitments to extend credit results from the possibility that interest rates may move unfavorably from the position of the Company since the time the commitment was made.

At September 30, 2025, the Company had commitments to originate or acquire loans and related allowances as follows:

Commitment Allowance

1 unchanged sentence

Adjustable-rate mortgage loans

Home equity loans and lines of credit

183,325 2,633

Home equity lines of credit 131,348 1,391

Home equity loans 90,206 1,905

Total $ 328,148 $ 4,111

6 unchanged sentences

At September 30, 2025 and September 30, 2024, the Company had $ 59,340 and $ 17,411 , respectively, in commitments to sell mortgage loans.

At September 30, 2024 and September 30, 2023, the Company had $ 15,891 and $ 51,275 , respectively, in commitments to purchase mortgage loans, which are included in mortgage loan commitments above.

At September 30, 2025 and September 30, 2024, the Company had $ 28,460 and $ 15,891 , respectively, in commitments to acquire mortgage loans, which are included in mortgage loan commitments above.

The above commitments are expected to be funded through normal operations.

18 unchanged sentences

For the years ended September 30, 2025 and 2024, net gain (loss) on the sale of loans includes $ 28 and $ 337 , respectively, related to unrealized gains or losses during the period due to changes in the fair value of loans held for sale subject to pending agency contracts.

At September 30, 2024 and 2023 there were $ 7,061 and $ 0 of loans held for sale carried at cost.

At September 30, 2025 and 2024 there were $ 34,801 and $ 7,061 of loans held for sale carried at cost, respectively.

Loans held for sale are included in Level 2 of the hierarchy.

17 unchanged sentences

At September 30, 2025 and 2024, $ 2,355 and $ 220 , respectively, of real estate owned is included in Level 3 of the hierarchy with assets measured at fair value on a non-recurring basis where the cost basis equals or exceeds the estimated fair values, less estimated costs to dispose, of $ 434 and $ 46 , respectively.

Real estate owned includes $ 0 and $ 194 of properties carried at their original or adjusted cost basis at September 30, 2024 and 2023, respectively.

Derivatives — Derivative instruments include interest rate lock commitments on loans being originated or purchased for the held for sale portfolio, forward commitments on contracts to deliver mortgage loans, and interest rate swaps designated as cash flow hedges.

There was no real estate owned carried at their original or adjusted cost basis at September 30, 2025 and 2024.

Derivatives — Derivative instruments include interest rate lock commitments on loans being originated or acquired for the held for sale portfolio, forward commitments on contracts to deliver mortgage loans, and interest rate swaps designated as cash

Derivatives not designated as cash flow hedges are reported at fair value in Other assets or Other liabilities on the CONSOLIDATED STATEMENT OF CONDITION with changes in value recorded in current earnings.

22 unchanged sentences

government and agency obligations 53,955 — 53,955 —

72,776 — 72,776 —

Mortgage loans held for sale 22,861 — 22,861 —

16 unchanged sentences

government and agency obligations 72,776 — 72,776 —

Forward commitments for the sale of mortgage loans 11 — 11 —

Total $ 508,335 $ — $ 508,335 $ —

Mortgage loans held for sale

10,713 $ — 10,713 $ —

Interest rate lock commitments

$ 395 — — $ 395

Total $ 537,359 $ — $ 536,964 $ 395

Forward commitments for the sale of mortgage loans

Total $ 72 $ — $ 72 $ —

The table below presents a reconciliation of the beginning and ending balances and the location within the CONSOLIDATED STATEMENTS OF INCOME where gains (losses) due to changes in fair value are recognized on interest rate lock commitments which are measured at fair value on a recurring basis using significant unobservable inputs (Level 3).

3 unchanged sentences

Beginning balance $ 395 $ ( 1 ) $ ( 333 )

(Loss)/Gain during the period due to changes in fair value:

Gain during the period due to changes in fair value:

Included in other non-interest income ( 123 ) 396 332

1 unchanged sentence

Change in unrealized gains for the period included in earnings for assets held at end of the reporting date $ 272 $ 395 $ ( 1 )

$ 395 $ ( 1 ) $ ( 333 )

Summarized in the tables below are those assets measured at fair value on a nonrecurring basis.

9 unchanged sentences

Real estate owned (1)

2,355 — — 2,355

Total $ 47,630 $ — $ — $ 47,630

10 unchanged sentences

Collateral-dependent loans, net of allowance $ 39,577 $ — $ — $ 39,577

Mortgage loans held for sale 3,260 — 3,260 —

Real estate owned (1)

1,413 — — 1,413

Total $ 39,797 $ — $ — $ 39,797

5 unchanged sentences

• Residential Properties 0 - 28 % 3.2 %

0 - 28 % 4.0 %

Interest rate lock commitments $ 272 Quoted Secondary Market pricing Closure rate 0 - 100 % 98.7 %

8 unchanged sentences

Cash and due from banks $ 24,176 $ 24,176 $ 24,176 $ — $ —

$ 26,287 $ 26,287 $ 26,287 $ — $ —

Interest earning cash equivalents 405,263 405,263 405,263 — —

437,431 437,431 437,431 — —

Investment securities available for sale 520,659 520,659 — 520,659 —

526,251 526,251 — 526,251 —

Mortgage loans held for sale 57,662 58,325 — 58,325 —

17,775 17,986 — 17,986 —

Mortgage loans held for investment 15,655,159 14,564,394 — — 14,564,394

Other loans 8,153 8,153 — — 8,153

Federal Home Loan Bank stock

228,494 228,494 N/A — —

Federal Home Loan Bank stock 235,363 235,363 N/A — —

Accrued interest receivable 62,553 62,553 — 62,553 —

59,398 59,398 — 59,398 —

Cash collateral received from or held by counterparty 6,910 6,910 6,910 — —

Derivatives 272 272 — — 272

Checking and passbook accounts

$ 2,150,770 $ 2,150,770 $ — $ 2,150,770 $ —

Checking and savings accounts $ 1,957,745 $ 1,957,745 $ — $ 1,957,745 $ —

Certificates of deposit 8,489,223 8,511,443 — 8,511,443 —

8,044,309 7,989,992 — 7,989,992 —

Borrowed funds 4,870,219 4,892,273 — 4,892,273 —

4,792,847 4,819,873 — 4,819,873 —

Borrowers’ advances for taxes and insurance 113,168 113,168 — 113,168 —

113,637 113,637 — 113,637 —

Principal, interest and escrow owed on loans serviced 30,328 30,328 — 30,328 —

4 unchanged sentences

Cash and due from banks $ 26,287 $ 26,287 $ 26,287 $ — $ —

$ 29,134 $ 29,134 $ 29,134 $ — $ —

Interest earning cash equivalents 437,431 437,431 437,431 — —

437,612 437,612 437,612 — —

Investment securities available for sale 526,251 526,251 — 526,251 —

508,324 508,324 — 508,324 —

Mortgage loans held for sale 17,775 17,986 — 17,986 —

3,260 3,260 — 3,260 —

Mortgage loans held for investment 15,316,354 13,922,944 — — 13,922,944

Other loans 5,705 5,705 — — 5,705

Federal Home Loan Bank stock

247,098 247,098 N/A — —

Federal Home Loan Bank stock 228,494 228,494 N/A — —

Accrued interest receivable 59,398 59,398 — 59,398 —

53,910 53,910 — 53,910 —

Cash collateral received from or held by counterparty 7,844 7,844 7,844 — —

Checking and passbook accounts

$ 2,790,476 $ 2,790,476 $ — $ 2,790,476 $ —

Derivatives 395 395 — — 395

Checking and savings accounts $ 2,150,770 $ 2,150,770 $ — $ 2,150,770 $ —

Certificates of deposit 8,044,309 7,989,992 — 7,989,992 —

6,659,344 6,571,674 — 6,571,674 —

Borrowed funds 4,792,847 4,819,873 — 4,819,873 —

5,273,637 5,256,278 — 5,256,278 —

Borrowers’ advances for taxes and insurance 113,637 113,637 — 113,637 —

124,417 124,417 — 124,417 —

Principal, interest and escrow owed on loans serviced 28,753 28,753 — 28,753 —

Derivatives 72 72 — 72 —

DERIVATIVE INSTRUMENTS

7 unchanged sentences

Derivatives qualifying as cash flow hedges are settled daily, bringing their fair value to $ 0 .

Quarterly, a quantitative analysis is preformed to monitor the ongoing effectiveness of the hedging instrument.

All derivative positions were initially, and continue to be, highly effective at September 30, 2024.

Quarterly, a quantitative analysis is preformed to monitor the ongoing effectiveness of each hedging instrument.

All derivative positions continue to be highly effective at September 30, 2025.

The Company enters into forward commitments for the sale of mortgage loans primarily to protect against the risk of lost revenue from adverse interest rate movements on net income.

23 unchanged sentences

$ 11,500 $ 272 11,467 395

Other Liabilities

— — 1,830 ( 1 )

Forward Commitments for the sale of mortgage loans

Other Assets — — 2,094 11

Other Liabilities 59,340 ( 351 ) 17,411 ( 72 )

6 unchanged sentences

Amount of gain/(loss) recognized Other comprehensive income $ 33,639 $ ( 75,900 ) $ 146,807

Amount of gain/(loss) reclassified from AOCI Interest expense:

Amount of gain reclassified from AOCI

Interest expense:

Borrowed funds and Deposits

32 unchanged sentences

Accrued expenses and other liabilities 3,093 2,696

Deferred income taxes 123 —

Total liabilities 11,913 11,135

62 unchanged sentences

Cash flows from investing activities:

Purchase of securities available for sale — — ( 4,071 )

(Increase) decrease in balances lent to Third Federal Savings and Loan 47,624 12,465 304

Net cash provided by (used in) investing activities 47,624 12,465 ( 3,767 )

Decrease in balances lent to Third Federal Savings and Loan

13,505 47,624 12,465

Net cash provided by investing activities

13,505 47,624 12,465

Cash flows from financing activities:

3 unchanged sentences

Acquisition of treasury shares through net settlement ( 776 ) ( 1,925 ) ( 978 )

Net increase (decrease) in borrowings from non-thrift subsidiaries 307 647 1,649

Net increase in borrowings from non-thrift subsidiaries

Net cash used in financing activities ( 58,808 ) ( 56,332 ) ( 58,952 )

Net increase (decrease) in cash and cash equivalents 132 83 ( 4,016 )

Net increase in cash and cash equivalents

Cash and cash equivalents—beginning of year 1,556 1,424 1,341

47 unchanged sentences

Adopted in fiscal year ended September 30, 2025

In March 2022, the FASB issued ASU 2022-02, Financial Instruments - Credit Losses (Topic 326 ).

The amendments in this update eliminate the accounting guidance for TDR by creditors in Subtopic 310-40, while enhancing disclosure requirements for certain loan refinancings and modifications by creditors when the borrower is experiencing financial difficulty.

Additionally, this amendment requires that an entity disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326.

This update is effective for fiscal years beginning after December 15, 2022, with early adoption permitted.

The Company adopted this guidance as of October 1, 2023, and applied the modified retrospective transition method that evaluates loans previously identified as TDRs for credit loss under the Company’s current ACL policy.

Upon adoption, an increase in retained earnings of $7,898, net of income taxes, resulted from a pretax decrease to the allowance for credit losses on loans and unfunded commitments of $10,262.

The enhanced disclosure requirements provided for by the ASU have been adopted on a prospective basis.

The required disclosures are included in Note 5.

LOANS AND ALLOWANCES FOR CREDIT LOSSES .

Issued but not yet adopted as of September 30, 2024

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280) .

The amendments in this update improve disclosures about a public entity's reportable segments and addresses request from investors and other allocators of capital for additional information about a reportable segment's expenses.

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures .

The amendments in this update improve disclosures about a public entity's reportable segments and address requests from investors and other allocators of capital for additional information about a reportable segment's expenses.

While the Company only has one reportable segment, the update requires public entities with a single segment to provide all segment disclosures under ASC 280.

The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning

after December 15, 2024.

The amendments in this update are effective for fiscal years beginning after December 15, 2023, or the Company's Form 10-K for the fiscal year ending September 30, 2025, and interim periods within fiscal years beginning after December 15, 2024, or the Company's fiscal year ending September 30, 2026, beginning with the Form 10-Q for the quarter ending December 31, 2025.

Retrospective application is required for all prior periods presented in the financial statements.

The Company intends to present the newly required annual disclosures in its Annual Report on Form 10-K for the fiscal year ending September 30, 2025 and the newly required interim disclosures beginning with its Quarterly Report on Form 10-Q for the period ending December 31, 2025.

The Company does not expect the adoption to have a material effect on the consolidated financial statements or disclosures.

The adoption does not have a material effect on the Company's consolidated financial statements or disclosures.

The required disclosures are included in Note 1.

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES.

Issued but not yet adopted as of September 30, 2025

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) .

The ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income tax paid.

The update is effective for fiscal years beginning after December 15, 2024.

Management is currently evaluating the impact of the ASU on the Company's income tax disclosures within the consolidated financial statements.

The ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid.

The update is effective for fiscal years beginning after December 15, 2024, or the Company's fiscal year ending September 30, 2026.

Management is currently evaluating the impact of the ASU on the Company's income tax disclosures within the consolidated financial statements and do not expect this ASU to have a material impact.

In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40) .

3 unchanged sentences

The amendments in this ASU may be applied either (1) prospectively to financial statements issued for reporting periods after the effective date of this ASU or (2) retrospectively to all prior periods presented in the financial statements.

Management is currently evaluating the impact of this standard on its consolidated financial statements and related disclosures.

Management is currently evaluating the impact of this standard on the Company's consolidated financial statements and related disclosures.

In July 2025, the FASB issued ASU 2025-05, Credit Losses (Topic 326) Measurement of Credit Losses for Accounts Receivable and Contract Assets .

The amendments in this update provide a practical expedient permitting an entity to assume that conditions at the balance sheet date remain unchanged over the life of the asset when estimating expected credit losses for current classified accounts receivable and contract assets under ASC 606.

The update is effective for fiscal years beginning after December 15, 2025, and interim periods beginning after December 15, 2026.

Adoption of this ASU can be applied prospectively for reporting periods after its effective date with early adoption permitted.

Management is evaluating the provisions of this ASU and do not expect this ASU to have a material impact on the Company's consolidated financial statements.

In September 2025, the FASB issued ASU 2025-06, Intangibles – Goodwill and Other Internal-Use Software (Subtopic 350-40) .

The amendments in this update are intended to improve the accounting for internal-use software.

The ASU simplifies the capitalization guidance by removing all references to the sequential software development stages throughout ASC 350-40.

The amendments in this update are effective for all entities for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods.

Management is evaluating the provisions of this ASU and do not expect this ASU to have a material impact on the Company's consolidated financial statements.

In September 2025, the FASB issued ASU 2025-07, Derivatives and Hedging (Topic 815) and Revenue from Contracts with Customers (Topic 606) .

The amendments in this update refines the scope of Topic 815 to clarify which contracts are subject to derivative accounting and also clarifies the guidance on share-based payments from a customer in a revenue contract under Topic 606.

The new guidance is effective for annual reporting periods beginning after December 15, 2026, with early adoption permitted.

Management is evaluating the provisions of this ASU and do not expect this ASU to have a material impact on the Company's consolidated financial statements.

In November 2025, the FASB issued ASU 2025-08, Financial Instruments – Credit Losses (Topic 326) .

The amendments in this update expand the use of the gross-up approach to certain acquired loans beyond purchased financial assets with credit deterioration.

The new guidance is effective for annual reporting periods beginning after December 15, 2026, with early adoption permitted.

The amendments in this update must be adopted prospectively to loans that are acquired on or after the initial application date.

Management is evaluating the provisions of this ASU and do not expect this ASU to have a material impact on the Company's consolidated financial statements.

The Company has determined that all other recently issued accounting pronouncements will not have a material impact on the Company's consolidated financial statements or do not apply to its operations.

2 unchanged sentences

These loans were originated with normal credit terms, including interest rate and collateralization, and do not represent more than the normal risk of collection.

The aggregate amount of loans to such related parties at both September 30, 2024 and 2023 was $ 0 .

The aggregate amount of loans to such related parties at September 30, 2025 and 2024 was $ 451 and $ 0 , respectively.

FORM 10-K EXHIBIT INDEX

18 unchanged sentences

Exhibit 3 therein)

A mendment to Bylaws of TFS Financial Corporation

Current Report on Form 8-K No.

001-33390 (filed with the SEC on October 24, 2024;

Exhibit 3 therein)

Form of Common Stock Certificate of TFS Financial Corporation

58 unchanged sentences

Insider trading policies and procedures

Filed herewith

Current Report on Form 10-K No.

001-33390 (filed with the SEC on November 21, 2024;

Exhibit 19 therein)

Subsidiaries of the registrant

9 unchanged sentences

Policy relating to recovery of erroneously awarded compensation

Filed herewith

Current Report on Form 10-K No.

001-33390 (filed with the SEC on November 21, 2024;

Exhibit 97 therein)

100 XBRL related documents The following financial statements from TFS Financial Corporation’s Annual Report on Form 10-K for the year ended September 30, 2025 filed on November 25, 2025 formatted in Inline XBRL (Extensible Business Reporting Language) includes:

47 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 9A. Controls and Procedures