What changed in this filing

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Item 1. Financial Statements

2026-05-07 compared with 2026-02-05 · 296 added, 151 removed, 939 unchanged (32% of the section changed)

10 unchanged sentences

Mortgage loans held for sale ($ 5,051 and $ 22,861 measured at fair value, respectively)

14,440 57,662

Loans held for investment, net:

23 unchanged sentences

332,318,750 shares issued;

280,624,799 and 280,590,497 outstanding at December 31, 2025 and September 30, 2025, respectively

280,476,186 and 280,590,497 outstanding at March 31, 2026 and September 30, 2025, respectively

Paid-in capital 1,758,387 1,757,813

Treasury stock, at cost;

51,693,951 and 51,728,253 shares at December 31, 2025 and September 30, 2025, respectively

51,842,564 and 51,728,253 shares at March 31, 2026 and September 30, 2025, respectively

( 776,404 ) ( 774,340 )

9 unchanged sentences

(In thousands, except share and per share data)

For the Three Months Ended

For the Three Months Ended For the Six Months Ended

March 31, March 31,

2026 2025 2026 2025

INTEREST AND DIVIDEND INCOME:

14 unchanged sentences

Net gain on the sale of loans

1,744 1,187 4,073 2,302

Increase in and death benefits from bank owned life insurance contracts 2,718 2,680 5,482 5,362

20 unchanged sentences

(In thousands)

For the Three Months Ended

For the Three Months Ended For the Six Months Ended

March 31, March 31,

2026 2025 2026 2025

Net income $ 23,247 $ 21,021 $ 45,521 $ 43,447

Other comprehensive income (loss), net of tax:

Net change in unrealized gain on securities available for sale

Net change in unrealized gain (loss) on securities available for sale

( 1,912 ) 5,271 ( 67 ) ( 232 )

2 unchanged sentences

Total other comprehensive income (loss)

Total comprehensive income

12,432 ( 26,021 ) 12,432 16,400

Total comprehensive income (loss)

$ 35,679 $ ( 5,000 ) $ 57,953 $ 59,847

See accompanying notes to unaudited interim consolidated financial statements.

2 unchanged sentences

(In thousands, except share and per share data)

For the Three Months Ended December 31, 2024

For the Three Months Ended March 31, 2025

Paid-in capital

Treasury stock

Unallocated common stock held by ESOP

Retained earnings

Accumulated other comprehensive income (loss)

Total shareholders' equity

Balance at December 31, 2024 $ 3,323 $ 1,754,241 $ ( 771,572 ) $ ( 21,667 ) $ 923,139 $ 26,813 $ 1,914,277

— — — — 21,021 — $ 21,021

Other comprehensive income (loss), net of tax

— — — — — ( 26,021 ) $ ( 26,021 )

ESOP shares allocated or committed to be released

— 312 — 1,083 — — $ 1,395

Compensation costs for equity incentive plans

— 950 — — — — $ 950

Treasury stock allocated to equity incentive plans

— ( 449 ) 449 — — — $ —

Dividends declared to common shareholders ($ 0.2825 per common share)

— — — — ( 14,965 ) — $ ( 14,965 )

Balance at March 31, 2025 $ 3,323 $ 1,755,054 $ ( 771,123 ) $ ( 20,584 ) $ 929,195 $ 792 $ 1,896,657

For the Three Months Ended March 31, 2026

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 December 31, 2025 $ 3,323 $ 1,756,360 $ ( 774,311 ) $ ( 17,334 ) $ 954,158 $ ( 21,231 ) $ 1,900,965

Net Income — — — — 23,247 — 23,247

Other comprehensive income (loss), net of tax

— — — — — 12,432 12,432

ESOP shares allocated or committed to be released — 451 — 1,084 — — 1,535

Compensation costs for equity incentive plans — 1,573 — — — — 1,573

Purchase of treasury stock ( 148,754 shares)

— — ( 2,090 ) — — — ( 2,090 )

Treasury stock allocated to equity incentive plans — 3 ( 3 ) — — — —

Dividends declared to common shareholders ($ 0.2825 per common share)

— — — — ( 15,192 ) — ( 15,192 )

Balance at March 31, 2026 $ 3,323 $ 1,758,387 $ ( 776,404 ) $ ( 16,250 ) $ 962,213 $ ( 8,799 ) $ 1,922,470

For the Six Months Ended March 31, 2025

stock Paid-in

15 unchanged sentences

— — — — ( 29,741 ) — ( 29,741 )

Balance at December 31, 2024 $ 3,323 $ 1,754,241 $ ( 771,572 ) $ ( 21,667 ) $ 923,139 $ 26,813 $ 1,914,277

For the Three Months Ended December 31, 2025

Balance at March 31, 2025 $ 3,323 $ 1,755,054 $ ( 771,123 ) $ ( 20,584 ) $ 929,195 $ 792 $ 1,896,657

For the Six Months Ended March 31, 2026

stock Paid-in

17 unchanged sentences

— — — — ( 30,084 ) — ( 30,084 )

Balance at December 31, 2025 $ 3,323 $ 1,756,360 $ ( 774,311 ) $ ( 17,334 ) $ 954,158 $ ( 21,231 ) $ 1,900,965

Balance at March 31, 2026 $ 3,323 $ 1,758,387 $ ( 776,404 ) $ ( 16,250 ) $ 962,213 $ ( 8,799 ) $ 1,922,470

See accompanying notes to unaudited interim consolidated financial statements.

1 unchanged sentence

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (In thousands)

For the Three Months Ended December 31,

For the Six Months Ended March 31,

CASH FLOWS FROM OPERATING ACTIVITIES:

32 unchanged sentences

Net increase in borrowers' advances for insurance and taxes ( 16,650 ) ( 13,374 )

Net increase in principal and interest owed on loans serviced 11,928 10,665

Net (decrease) increase in short-term borrowed funds ( 28,000 ) 41,000

Net increase in Fed Funds purchased

Net decrease in principal and interest owed on loans serviced ( 1,131 ) ( 1,504 )

Net increase (decrease) in short-term borrowed funds 351,000 74,000

Proceeds from long-term borrowed funds 50,000 —

5 unchanged sentences

Net cash used in financing activities ( 74,147 ) ( 20,580 )

NET INCREASE IN CASH AND CASH EQUIVALENTS 27,270 2,213

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 7,842 ( 135 )

CASH AND CASH EQUIVALENTS—Beginning of period 429,439 463,718

17 unchanged sentences

The principal line of business of the Company is retail consumer banking, including mortgage lending, deposit gathering, and other financial services.

As of December 31, 2025, approximately 80.9 % of the Company’s outstanding shares were owned by the federally chartered mutual holding company, Third Federal Savings, MHC.

As of March 31, 2026, approximately 81.0 % of the Company’s outstanding shares were owned by the federally chartered mutual holding company, Third Federal Savings, MHC.

The thrift subsidiary of TFS Financial Corporation is Third Federal Savings and Loan Association of Cleveland.

5 unchanged sentences

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 consolidated financial condition of the Company at December 31, 2025, and its consolidated results of operations and cash flows for the periods presented.

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 consolidated financial condition of the Company at March 31, 2026, and its consolidated results of operations and cash flows for the periods presented.

Such adjustments are the only adjustments reflected in the unaudited interim financial statements.

15 unchanged sentences

For purposes of computing dilutive EPS, stock options and restricted and performance share units with a dilutive impact are added to the outstanding shares used in the basic EPS 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.

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 if 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 December 31, 2025 and 2024, the ESOP held 1,733,356 and 2,166,696 shares, respectively, that were neither allocated to participants nor committed to be released to participants.

Excluded from the calculation of basic EPS are performance share units that are contingently issuable and not participating securities, and certain restricted stock units with forfeitable rights to dividends.

At March 31, 2026 and 2025, the ESOP held 1,625,021 and 2,058,361 shares, respectively, that were neither allocated to participants nor committed to be released to participants.

The following is a summary of the Company's EPS calculations.

For the Three Months Ended December 31,

For the Three Months Ended March 31,

Income Shares Per share

2 unchanged sentences

Net income $ 23,247 $ 21,021

income allocated to restricted stock units 364 353

income allocated to participating securities 367 360

Basic earnings per share:

3 unchanged sentences

Income available to common shareholders $ 22,880 279,934,262 $ 0.08 $ 20,661 279,719,382 $ 0.07

For the Six Months Ended March 31,

Income Shares Per share

amount Income Shares Per share

(Dollars in thousands, except per share data)

Net income $ 45,521 $ 43,447

income allocated to participating securities 733 713

Basic earnings per share:

Income available to common shareholders 44,788 278,806,040 $ 0.16 42,734 278,632,698 $ 0.15

Diluted earnings per share:

Effect of dilutive potential common shares 1,100,145 1,011,609

Income available to common shareholders $ 44,788 279,906,185 $ 0.16 $ 42,734 279,644,307 $ 0.15

The following is a summary of outstanding stock options and restricted and performance share units that are excluded from the computation of diluted EPS because their inclusion would be anti-dilutive.

For the Three Months Ended December 31,

For the Three Months Ended March 31, For the Six Months Ended March 31,

2026 2025 2026 2025

Options to purchase shares 698,475 1,447,975 698,475 1,432,975

2 unchanged sentences

Investments available for sale are summarized in the tables below.

December 31, 2025

March 31, 2026

Unrealized Fair

11 unchanged sentences

Total $ 542,197 $ 2,292 $ ( 23,830 ) $ 520,659

At December 31, 2025 and September 30, 2025, investment securities included $ 0 and $ 50,032 , respectively, of U.S.

At March 31, 2026 and September 30, 2025, investment securities included $ 0 and $ 50,032 , respectively, of U.S.

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

Accrued interest on investment securities is $ 1,461 and $ 2,556 at December 31, 2025 and September 30, 2025, respectively, and is reported in accrued interest receivable on the CONSOLIDATED STATEMENTS OF CONDITION .

The following is a summary of the Company's securities portfolio by the period remaining until contractual maturity and by weighted average yield at December 31, 2025 and September 30, 2025.

Accrued interest on investment securities is $ 1,457 and $ 2,556 at March 31, 2026 and September 30, 2025, respectively, and is reported in accrued interest receivable on the CONSOLIDATED STATEMENTS OF CONDITION .

The following is a summary of the Company's securities portfolio by the period remaining until contractual maturity and by weighted average yield at March 31, 2026 and September 30, 2025.

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.

The Company did not hold any tax-exempt securities at December 31, 2025 or September 30, 2025.

December 31, 2025 September 30, 2025

The Company did not hold any tax-exempt securities at March 31, 2026 or September 30, 2025.

March 31, 2026 September 30, 2025

Amortized Cost Fair Value Weighted Average Yield Amortized Cost Fair Value Weighted Average Yield

4 unchanged sentences

Total $ 476,384 $ 454,625 3.38 % $ 542,197 $ 520,659 3.54 %

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 December 31, 2025 and September 30, 2025, were as follows:

December 31, 2025

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 March 31, 2026 and September 30, 2025, were as follows:

March 31, 2026

Less Than 12 Months 12 Months or More Total

23 unchanged sentences

In addition, the U.S.

Treasury Department has established

financing agreements 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 primarily attributable to an increase in market interest rates since the dates of acquisition and not credit quality deterioration, and because there is no intent to sell the securities and it is unlikely that the Company will be required to sell the securities prior to recovery of the amortized cost, the Company did not record an allowance for credit losses on investment securities as of December 31, 2025 or September 30, 2025 .

Treasury Department has established financing agreements to ensure Fannie Mae and Freddie Mac meet their obligations to holders of mortgage-backed securities that they have issued or guaranteed.

LOANS AND ALLOWANCE FOR CREDIT LOSSES

18 unchanged sentences

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.

Accrued interest is $ 58,816 and $ 59,980 as of December 31, 2025 and September 30, 2025, respectively, and is reported in accrued interest receivable on the CONSOLIDATED STATEMENTS OF CONDITION.

Accrued interest is $ 58,446 and $ 59,980 as of March 31, 2026 and September 30, 2025, respectively, and is reported in accrued interest receivable on the CONSOLIDATED STATEMENTS OF CONDITION.

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

At December 31, 2025 and September 30, 2025, the percentage of aggregate Residential Core, Residential Home Today and Construction loans secured by properties in Ohio was 59 % at both dates, and the percentage of those loans secured by properties in Florida was 17 % at both dates.

As of December 31, 2025 and September 30, 2025, home equity lines of credit were concentrated in Ohio ( 22 % at both dates), Florida ( 21 % at both dates), and California ( 17 % at both dates), and home equity loans were concentrated in Ohio ( 23 % at both dates), Florida ( 20 % and 22 %, respectively), and California ( 18 % at both dates).

At March 31, 2026 and September 30, 2025, the percentage of aggregate Residential Core, Residential Home Today and Construction loans secured by properties in Ohio was 59 % at both dates, and the percentage of those loans secured by properties in Florida was 17 % at both dates.

As of March 31, 2026 and September 30, 2025, home equity lines of credit were concentrated in Ohio ( 22 % at both dates), Florida ( 21 % at both dates), and California ( 17 % at both dates), and home equity loans were concentrated in Ohio ( 21 % and 23 %, respectively), Florida ( 19 % and 22 %, respectively), and California ( 19 % and 18 %, respectively).

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

4 unchanged sentences

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 $ 3,830,476 and $ 3,944,540 at December 31, 2025 and September 30, 2025, respectively.

The principal amount of adjustable-rate mortgage loans included in the Residential Core portfolio was $ 3,717,061 and $ 3,944,540 at March 31, 2026 and September 30, 2025, respectively.

Home Today was an affordable housing program targeted to benefit low- and moderate-income home buyers.

11 unchanged sentences

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 three months ended December 31, 2025 and December 31, 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.

At December 31, 2025 and September 30, 2025, mortgage loans held for sale totaled $ 14,440 and $ 57,662 , respectively.

During the three months ended December 31, 2025, the principal balance of loans sold, according to trade date, was $ 109,631 (including loans in contracts pending settlement) compared to $ 72,031 (including loans in contracts pending settlement) during the three months ended December 31, 2024.

During the three months ended December 31, 2025, the amortized cost of loans originated as held for sale that were subsequently transferred to the held for investment portfolio was $ 7,427 , compared to $ 1,327 during the three months ended December 31, 2024.

During the three and six months ended March 31, 2026 and March 31, 2025, 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 March 31, 2026 and September 30, 2025, mortgage loans held for sale totaled $ 5,051 and $ 57,662 , respectively.

During the three and six months ended March 31, 2026, the principal balance of loans sold, according to trade date, was $ 94,426 and $ 204,057 (including loans in contracts pending settlement) compared to $ 75,159 and $ 147,190 (including loans in contracts pending settlement) during the three and six months ended March 31, 2025.

During the three and six months ended March 31, 2026, the amortized cost of loans originated as held for sale that were subsequently transferred to the held for investment portfolio was $ 2,239 and $ 9,666 , respectively, compared to $ 0 and $ 1,327 , respectively, during the three and six months ended March 31, 2025.

DELINQUENCY and NON-ACCRUAL

An aging analysis of the amortized cost in loan receivables that are past due at December 31, 2025 and September 30, 2025, is summarized in the following tables.

An aging analysis of the amortized cost in loan receivables that are past due at March 31, 2026 and September 30, 2025, 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.

3 unchanged sentences

Due Current Total

December 31, 2025

March 31, 2026

Real estate loans:

33 unchanged sentences

Non-accrual with no ACL describes non-accrual loans which have no quantitative allowance, primarily because they have already been subject to collateral review and any required charge-offs have been taken, but may be included in consideration of qualitative allowance factors.

There are no loans 90 or more days past due and still accruing at December 31, 2025 or September 30, 2025.

December 31, 2025 September 30, 2025

There are no loans 90 or more days past due and still accruing at March 31, 2026 or September 30, 2025.

March 31, 2026 September 30, 2025

Non-accrual with No ACL

8 unchanged sentences

Total non-accrual loans $ 32,025 $ 37,121 $ 33,070 $ 38,706

At December 31, 2025 and September 30, 2025, the amortized cost in non-accrual loans includes $ 21,657 and $ 21,458 , respectively, which are performing according to the terms of their agreement, of which $ 13,872 and $ 13,843 , respectively, are loans in Chapter 7 bankruptcy status, primarily where all borrowers have filed, and have not reaffirmed or been dismissed.

At December 31, 2025 and September 30, 2025, real estate loans include $ 12,453 and $ 9,918 , respectively, of loans that were in the process of foreclosure.

At March 31, 2026 and September 30, 2025, the amortized cost in non-accrual loans includes $ 20,388 and $ 21,458 , respectively, which are performing according to the terms of their agreement, of which $ 13,961 and $ 13,843 , respectively, are loans in Chapter 7 bankruptcy status, primarily where all borrowers have filed, and have not reaffirmed or been dismissed.

At March 31, 2026 and September 30, 2025, real estate loans include $ 12,798 and $ 9,918 , respectively, of loans that were in the process of foreclosure.

Interest on loans in accrual status is recognized in interest income as it accrues on a daily basis.

2 unchanged sentences

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 $ 285 for the three months ended December 31, 2025, and $ 236 for the three months ended December 31, 2024, respectively.

The amount of interest income recognized on non-accrual loans was $ 211 and $ 496 for the three and six months ended March 31, 2026, and $ 243 and $ 479 for the three and six months ended March 31, 2025, 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 modification 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

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.

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.

ALLOWANCE FOR CREDIT LOSSES

5 unchanged sentences

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 a significant level of uncertainty.

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 a significant level of uncertainty.

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 December 31, 2025, was a reduction to the allowance for credit losses of $ 1,195 , compared to a reduction of $ 1,801 at September 30, 2025.

The net qualitative adjustment at March 31, 2026, was a reduction to the allowance for credit losses of $ 684 , compared to a reduction of $ 1,801 at September 30, 2025.

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

19 unchanged sentences

LOAN COMMITMENTS AND CONTINGENT LIABILITIES for further details on the allowance for unfunded commitments.

For the Three Months Ended December 31, 2025

For the Three Months Ended March 31, 2026

Balance Provisions (Releases) Charge-offs Recoveries Ending

2 unchanged sentences

Residential Home Today (2)

( 2,139 ) ( 265 ) 26 394 ( 1,984 )

Home equity lines of credit 23,045 119 ( 243 ) 462 23,383

Home equity loans 15,701 1,314 ( 20 ) 27 17,022

Construction 12 ( 11 ) — — 1

Total real estate loans $ 74,984 $ ( 876 ) $ ( 311 ) $ 1,103 $ 74,900

Total Unfunded Loan Commitments (1)

$ 29,074 $ 876 $ — $ — $ 29,950

Total Allowance for Credit Losses $ 104,058 $ — $ ( 311 ) $ 1,103 $ 104,850

For the Three Months Ended March 31, 2025

Balance Provisions (Releases) Charge-offs Recoveries Ending

Real estate loans:

Residential Core $ 42,476 $ ( 1,926 ) $ ( 17 ) $ 132 $ 40,665

Residential Home Today ( 2,529 ) ( 283 ) ( 8 ) 380 ( 2,440 )

Home equity lines of credit 18,194 1,083 ( 238 ) 423 19,462

Home equity loans 12,375 464 ( 17 ) 10 12,832

Construction 43 ( 16 ) — — 27

Total real estate loans $ 70,559 $ ( 678 ) $ ( 280 ) $ 945 $ 70,546

Total Unfunded Loan Commitments (1)

$ 27,202 $ 2,178 $ — $ — $ 29,380

Total Allowance for Credit Losses $ 97,761 $ 1,500 $ ( 280 ) $ 945 $ 99,926

For the Six Months Ended March 31, 2026

Balance Provisions (Releases) Charge-offs Recoveries Ending

Real estate loans:

Residential Core $ 39,939 $ ( 3,761 ) $ ( 89 ) $ 389 $ 36,478

Residential Home Today (2)

( 2,438 ) ( 415 ) ( 10 ) 879 ( 1,984 )

Home equity lines of credit

22,069 875 ( 503 ) 942 23,383

Home equity loans

14,645 2,495 ( 157 ) 39 17,022

Construction 29 ( 28 ) — — 1

4 unchanged sentences

(1) For all periods presented, the total allowance for unfunded loan commitments is recognized in accrued expenses and other liabilities on the CONSOLIDATED STATEMENTS OF CONDITION and primarily relates to undrawn home equity lines of credit.

For the Three Months Ended December 31, 2024

(2) The Residential Home Today Charge-off total includes a charge-off reversal from the quarter ended December 31, 2025.

For the Six Months Ended March 31, 2025

Balance Provisions (Releases) Charge-offs Recoveries Ending

18 unchanged sentences

therefore they are not included in the following tables.

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

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

Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term

1 unchanged sentence

2026 2025 2024 2023 2022 Prior Total

December 31, 2025

March 31, 2026

Real estate loans:

62 unchanged sentences

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

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

The following tables present gross charge-offs of residential loan receivables recorded during the fiscal year-to-date periods presented.

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

For the Three Months Ended December 31, 2025

For the Six Months Ended March 31, 2026

By fiscal year of origination

4 unchanged sentences

Residential Home Today (1)

— — — — — 10 — — 10

Home equity lines of credit — — — — — — 369 134 503

1 unchanged sentence

Total real estate loans $ — $ 73 $ 61 $ 15 $ 33 $ 74 $ 369 $ 134 $ 759

For the Three Months Ended December 31, 2024

(1) The Residential Home Today charge-off total includes a charge off reversal from quarter ended December 31, 2025.

For the Six Months Ended March 31, 2025

By fiscal year of origination

7 unchanged sentences

Total real estate loans $ — $ — $ — $ — $ 17 $ 26 $ 273 $ 281 $ 597

The home equity lines of credit that converted from revolving to term loans during the three months ended December 31, 2025, totaled $ 3,437 , and during the three months ended December 31, 2024, totaled $ 3,347 .

The amount of conversions to term loans is expected to remain relatively low for several years since the length of the draw period on new originations changed from five to 10 years in 2016.

The home equity lines of credit that converted from revolving to term loans during the three and six months ended March 31, 2026, totaled $ 4,276 and $ 7,366 , respectively, and during the three and six months ended March 31, 2025, totaled $ 3,872 and $ 6,814 , respectively.

The number of conversions to term loans is expected to remain relatively low for several years since the length of the draw period on new originations changed from five to 10 years in 2016.

Residential loans are internally assigned a grade that complies with the guidelines outlined in the OCC’s Handbook for Rating Credit Risk.

6 unchanged sentences

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

At December 31, 2025 and September 30, 2025, no other loans were graded as non-performing.

At March 31, 2026 and September 30, 2025, no other loans were graded as non-performing.

MODIFICATIONS TO BORROWERS EXPERIENCING FINANCIAL DIFFICULTY

9 unchanged sentences

The following tables present the amortized cost of modifications by type executed during the periods presented for borrowers experiencing financial difficulty.

For the three months ended December 31, 2025 and December 31, 2024, there were no modifications made on construction loans.

For the Three Months Ended December 31, 2025

For the three and six months ended March 31, 2026 and March 31, 2025, there were no modifications made on construction loans.

For the Three Months Ended March 31, 2026

Interest Rate Reduction

Term Extension

Significant Payment Delay

Combination-Rate Reduction & Term Extension

% of Total Class

Residential Core $ — $ 3 $ 823 $ 81 $ 78 $ 985 0.01 %

Residential Home Today — 115 44 — — 159 0.47

Home equity lines of credit

— — 60 21 45 126 0.00

Home equity loans

— — — — — — —

Total $ — $ 118 $ 927 $ 102 $ 123 $ 1,270 0.01 %

For the Three Months Ended March 31, 2025

Interest Rate Reduction

Term Extension

Significant Payment Delay

Combination-Rate Reduction & Term Extension

% of Total Class

Residential Core $ — $ 477 $ 125 $ 395 $ 337 $ 1,334 0.01 %

Residential Home Today — 1 182 — 4 187 0.49

Home equity lines of credit

— — 207 24 — 231 0.01

Home equity loans

— — — — — — —

Total $ — $ 478 $ 514 $ 419 $ 341 $ 1,752 0.01 %

For the Six Months Ended March 31, 2026

Interest Rate Reduction Term Extension Significant Payment Delay Combination-Rate Reduction & Term Extension Other Total % of Total Class

4 unchanged sentences

Total $ — $ 814 $ 1,312 $ 352 $ 126 $ 2,604 0.02 %

For the Three Months Ended December 31, 2024

For the Six Months Ended March 31, 2025

Interest Rate Reduction

11 unchanged sentences

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

For the Three Months Ended December 31, 2025 For the Three Months Ended December 31, 2024

For the Three Months Ended March 31, 2026 For the Three Months Ended March 31, 2025

Interest Rate Reduction

Term Extension

Interest Rate Reduction

Term Extension

Weighted-Average Contractual

Interest Rate

Weighted-Average Years Added to Life

Weighted-Average Contractual

Interest Rate

Weighted-Average Years Added to Life

Residential Core 5.50 % 3.50 % 27.6 5.43 % 3.50 % 12.5

Residential Home Today — % — % 15.9 — % — % 0.8

Home equity lines of credit

5.99 % 3.50 % 7.9 7.24 % 3.50 % 2.5

Home equity loans

— % — % 0.0 — % — % 0.0

For the Six Months Ended March 31, 2026 For the Six Months Ended March 31, 2025

Interest Rate Reduction Term Extension Interest Rate Reduction Term Extension

11 unchanged sentences

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 following table provides information, by type of modification, about loans that were modified within the last 12 months and subsequently defaulted during the three months ended December 31, 2025 and December 31, 2024.

There were no home equity loans that subsequently defaulted for the three months ended December 31, 2025 and December 31, 2024.

For the Three Months Ended December 31, 2025

The following table provides information, by type of modification, about loans that were modified within the last 12 months and subsequently defaulted during the three and six months ended March 31, 2026 and March 31, 2025.

There were no home equity loans that subsequently defaulted for the three and six months ended March 31, 2026 and March 31, 2025.

For the Three Months Ended March 31, 2026

Interest Rate Reduction Term Extension Significant Payment Delay Combination-Rate Reduction & Term Extension Other Total

3 unchanged sentences

Total $ — $ — $ — $ — $ 124 $ 124

For the Three Months Ended December 31, 2024

For the Three Months Ended March 31, 2025

Interest Rate Reduction Term Extension Significant Payment Delay Combination-Rate Reduction & Term Extension Other Total

3 unchanged sentences

$ — $ — $ 402 $ 98 $ — $ 500

The following tables present performance by loan type as of December 31, 2025 and December 31, 2024, on loans modified during the previous 12 months for borrowers experiencing financial difficulties.

For the Six Months Ended March 31, 2026

Interest Rate Reduction Term Extension Significant Payment Delay Combination-Rate Reduction & Term Extension Other Total

Residential Core $ — $ — $ 354 $ — $ 79 $ 433

Residential Home Today — — — — — —

Home equity lines of credit — — — — 45 45

Total $ — $ — $ 354 $ — $ 124 $ 478

For the Six Months Ended March 31, 2025

Interest Rate Reduction Term Extension Significant Payment Delay Combination-Rate Reduction & Term Extension Other Total

Residential Core $ — $ — $ 257 $ — $ — $ 257

Residential Home Today — — 153 — — 153

Home equity lines of credit — — 230 98 — 328

Total $ — $ — $ 640 $ 98 $ — $ 738

The following tables present performance by loan type as of March 31, 2026 and March 31, 2025, on loans modified during the previous 12 months for borrowers experiencing financial difficulties.

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.

December 31, 2025 30-59

March 31, 2026 30-59

Past Due 60-89

7 unchanged sentences

Total $ 55 $ — $ 1,127 $ 1,182 $ 3,930 $ 5,112

December 31, 2024 30-59

March 31, 2025 30-59

Past Due 60-89

17 unchanged sentences

Total deposits $ 10,187,391 $ 10,446,968

The aggregate amount of CDs in denominations of more than $250 was $ 1,534,429 and $ 1,533,487 at December 31, 2025 and September 30, 2025, respectively.

The aggregate amount of CDs in denominations of more than $250 was $ 1,538,729 and $ 1,533,487 at March 31, 2026 and September 30, 2025, respectively.

In accordance with the DFA, the maximum amount of federal deposit insurance is $250 per depositor for each account ownership category.

Brokered CDs (exclusive of acquisition costs and subsequent amortization), which are used as a cost effective funding alternative, totaled $ 879,363 and $ 902,083 at December 31, 2025 and September 30, 2025, respectively, of which $550,000 and $575,000 were aligned with interest rate swaps as discussed in Note 13.

Brokered CDs (exclusive of acquisition costs and subsequent amortization), which are used as a cost effective funding alternative, totaled $ 863,657 and $ 902,083 at March 31, 2026 and September 30, 2025, respectively, of which $550,000 and $575,000 were aligned with interest rate swaps as discussed in Note 13.

DERIVATIVE INSTRUMENTS .

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 December 31, 2025 and September 30, 2025, the Association may accept brokered deposits without FDIC restrictions.

As a well-capitalized institution at March 31, 2026 and September 30, 2025, the Association may accept brokered deposits without FDIC restrictions.

BORROWED FUNDS

At December 31, 2025, the Association had a maximum borrowing capacity of $7,714,194, of which $4,923,978 was outstanding.

At March 31, 2026, the Association had a maximum borrowing capacity of $7,599,493, of which $5,127,577 was outstanding.

Borrowings from the FHLB of Cincinnati are secured by the Association’s investment in the common stock of the FHLB of Cincinnati, as well as by a blanket pledge of its mortgage portfolio not otherwise pledged.

1 unchanged sentence

Additionally, the ability to borrow from the FRB-Cleveland Discount Window is available to the Association and is secured by a pledge of specific loans in the Association’s mortgage portfolio.

Total borrowings at December 31, 2025 are summarized in the table below:

Total borrowings at March 31, 2026 are summarized in the table below:

Borrowing Capacity Borrowings Available Borrowings Outstanding

5 unchanged sentences

Total Borrowings $ 5,142,391

Maturities of borrowings at December 31, 2025 are summarized in the table below:

Maturities of borrowings at March 31, 2026 are summarized in the table below:

Amount Weighted Average Rate

12 unchanged sentences

Interest is payable monthly for long-term FHLB advances and generally at maturity for FHLB advances with terms of three months or less.

For the three months ended December 31, 2025, and December 31, 2024, net interest expense related to short-term borrowings, with original maturities of twelve months or less, was $ 28,112 and $ 25,199 , respectively.

For the three and six months ended March 31, 2026, and March 31, 2025, net interest expense related to short-term borrowings, with original maturities of twelve months or less, was $ 29,661 and $ 57,774 , and $ 24,227 and $ 49,426 , respectively.

OTHER COMPREHENSIVE INCOME (LOSS)

1 unchanged sentence

For the Three Months Ended For the Three Months Ended

December 31, 2025 December 31, 2024

March 31, 2026 March 31, 2025

Unrealized Gains (Losses) on Securities Available for Sale Cash Flow Hedges Defined Benefit Plan Total Unrealized Gains (Losses) on Securities Available for Sale Cash Flow Hedges Defined Benefit Plan Total

6 unchanged sentences

$ ( 587 ) $ 4,393 $ — $ 3,806 $ 1,563 $ ( 9,292 ) $ — $ ( 7,729 )

For the Six Months Ended For the Six Months Ended

March 31, 2026 March 31, 2025

Balance at beginning of period $ ( 16,590 ) $ ( 1,032 ) $ ( 3,609 ) $ ( 21,231 ) $ ( 21,059 ) $ 8,886 $ ( 3,435 ) $ ( 15,608 )

Other comprehensive income (loss) before reclassifications ( 67 ) 20,010 56 19,999 ( 232 ) 36,658 — 36,426

Amounts reclassified — ( 7,567 ) — ( 7,567 ) — ( 20,026 ) — ( 20,026 )

Other comprehensive income (loss), net of tax ( 67 ) 12,443 56 12,432 ( 232 ) 16,632 — 16,400

Balance at end of period $ ( 16,657 ) $ 11,411 $ ( 3,553 ) $ ( 8,799 ) $ ( 21,291 ) $ 25,518 $ ( 3,435 ) $ 792

Tax expense (benefit) netted in other comprehensive income or loss 1

$ ( 155 ) $ 3,802 $ ( 56 ) $ 3,591 $ ( 71 ) $ 4,939 $ — $ 4,868

The following table presents the reclassification adjustments out of accumulated other comprehensive income (loss) included in net income and the corresponding line item on the CONSOLIDATED STATEMENTS OF INCOME for the periods indicated:

Amounts Reclassified from Accumulated

Other Comprehensive Income Amounts Reclassified from Accumulated

Other Comprehensive Income

Details about Accumulated Other Comprehensive Income Components For the Three Months Ended December 31, Line Item in the Consolidated Statements of Income

Details about Accumulated Other Comprehensive Income Components For the Three Months Ended March 31, For the Six Months Ended March 31, Line Item in the Consolidated Statements of Income

2026 2025 2026 2025

Cash flow hedges:

2 unchanged sentences

Net of income tax expense ( 2,529 ) ( 8,606 ) ( 7,567 ) ( 20,026 )

Amortization of defined benefit plan:

Actuarial loss — — (a)

Net income tax effect — — Income tax expense

Net of income tax expense — —

Total reclassifications for the period $ ( 2,529 ) $ ( 8,606 ) $ ( 7,567 ) $ ( 20,026 )

(a) This item is included in the computation of net periodic pension cost.

DEFINED BENEFIT PLAN for additional disclosure.

The Company and its subsidiaries file income tax returns in the U.S.

federal jurisdiction and in various state and city jurisdictions.

The Company’s combined federal and state effective income tax rate was 21.8 % and 21.0 % for the three months ended December 31, 2025 and December 31, 2024, respectively.

The Company’s combined federal and state effective income tax rate was 22.0 % and 20.9 % for the six months ended March 31, 2026 and March 31, 2025, respectively.

The increase in the effective tax rate is primarily due to higher non-deductible compensation and higher effective income tax rates in certain states that adopted single-sales factor apportionment.

4 unchanged sentences

The Company accounts for its interests in LIHTCs using the proportional amortization method.

The impact of the Company's investments in tax credit entities on the provision for income taxes was not material during the three months ended December 31, 2025 and December 31, 2024.

The impact of the Company's investments in tax credit entities on the provision for income taxes was not material during the six months ended March 31, 2026 and March 31, 2025.

DEFINED BENEFIT PLAN

2 unchanged sentences

Effective December 31, 2011, the Plan was amended to freeze future benefit accruals for participants in the Plan.

After December 31, 2002, employees not participating in the Plan, upon meeting the applicable eligibility requirements, and those eligible participants who no longer receive service credits under the Plan, participate in a separate tier of the Company’s defined contribution 401(k) Savings Plan.

After December 31,

2002, employees not participating in the Plan, upon meeting the applicable eligibility requirements, and those eligible participants who no longer receive service credits under the Plan, participate in a separate tier of the Company’s defined contribution 401(k) Savings Plan.

Benefits under the Plan are based on years of service and the employee’s average annual compensation (as defined in the Plan) through December 31, 2011.

2 unchanged sentences

The Company executed an amendment to terminate the Plan effective December 31, 2025.

The Plan's benefit obligation is expected to be settled through lump sum distributions to participants, followed by the purchase of annuity contracts to transfer the Plan's remaining obligation to a third party, within nine to 12 months of plan termination.

Pension settlement charges related to the Plan termination, including the recognition of Plan losses recorded within accumulated other comprehensive loss on the Company's CONSOLIDATED STATEMENTS OF CONDITION , are currently expected to occur in the second half of calendar

Finalization of the Plan termination is subject to certain conditions, including regulatory review, and the Company has the ability to change the effective date of the termination or revoke the decision to terminate the Plan.

The components of net periodic cost recognized in other non-interest expense in the CONSOLIDATED STATEMENTS OF INCOME are as follows:

For the Three Months Ended

For the Three Months Ended For the Six Months Ended

March 31, March 31,

2026 2025 2026 2025

Interest cost $ 689 $ 740 $ 1,378 $ 1,480

2 unchanged sentences

$ ( 100 ) $ ( 457 ) $ ( 200 ) $ ( 913 )

There were no required minimum employer contributions during the three months ended December 31, 2025.

There were no required minimum employer contributions during the six months ended March 31, 2026.

There are no required minimum employer contributions expected during the remainder of the fiscal year ending September 30, 2026.

EQUITY INCENTIVE PLAN

During the three months ended December 31, 2025, a total of 371,700 restricted stock units and 478,800 performance share units were granted to directors and executive officers.

During the six months ended March 31, 2026, a total of 371,700 restricted stock units and 478,800 performance share units were granted to directors and executive officers.

On December 18, 2025, a special one-time equity award (the "Retention Award") was granted to Marc Stefanski, the Company's Chairman, President and Chief Executive Officer.

The Retention Award consists of 215,200 restricted stock units and 322,800 performance share units, which are included in the total restricted stock units and performance share units above.

The Retention Award consists of 215,200 restricted stock units and 322,800 performance share units, which are included in the total grants of restricted stock units and performance share units above.

The Retention Award was designed to directly incentivize Mr.

2 unchanged sentences

The following table presents share-based compensation expense recognized during the periods presented:

For the Three Months Ended

For the Three Months Ended For the Six Months Ended

March 31, March 31,

2026 2025 2026 2025

Stock option expense $ 24 $ 29 $ 44 $ 56

2 unchanged sentences

Total stock-based compensation expense $ 1,573 $ 950 $ 2,743 $ 1,855

At December 31, 2025, 947,775 shares were subject to options, with a weighted average exercise price of $ 14.92 per share and a weighted average grant date fair value of $ 1.50 per share.

Expected future expense, relating to the 240,000 non-vested options outstanding as of December 31, 2025, is $ 87 over a weighted average period of 0.9 years.

At December 31, 2025, 627,520 restricted stock units and 675,100 performance share units with a weighted average grant date fair value of $ 13.78 and $ 13.81 per unit, respectively, are unvested.

Expected future compensation expense, relating to the 1,393,268 restricted stock units and 675,100 performance share units outstanding as of December 31, 2025, is $ 6,961 over a weighted average period of 3.1 years and $ 8,531 over a weighted average period of 3.8 years, respectively.

At March 31, 2026, 945,075 shares were subject to options, with a weighted average exercise price of $ 14.92 per share and a weighted average grant date fair value of $ 1.50 per share.

Expected future expense, relating to the 239,400 non-vested options outstanding as of March 31, 2026, is $ 63 over a weighted average period of 0.7 years.

At March 31, 2026, 627,349 restricted stock units and 675,100 performance share units with a weighted average grant date fair value of $ 13.78 and $ 13.81 per unit, respectively, are unvested.

Expected future compensation expense, relating to the 1,393,097 restricted stock units and 675,100 performance share units outstanding as of March 31, 2026, is $ 6,048 over a weighted average period of 3.1 years and $ 7,871 over a weighted average period of 3.6 years, respectively.

Each unit is equivalent to one share of common stock.

12 unchanged sentences

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 December 31, 2025, the Company had commitments to originate or acquire loans and related allowances as follows:

At March 31, 2026, the Company had commitments to originate or acquire loans and related allowances as follows:

Commitment Allowance

5 unchanged sentences

Total $ 377,131 $ 4,093

At December 31, 2025, the Company had unfunded commitments outstanding and related allowances as follows:

At March 31, 2026, the Company had unfunded commitments outstanding and related allowances as follows:

Commitment Allowance

2 unchanged sentences

Total $ 5,651,994 $ 25,857

At December 31, 2025, the unfunded commitment on home equity lines of credit, including commitments for accounts suspended as a result of material default or a decline in equity, was $ 5,629,816 .

At December 31, 2025 and September 30, 2025, the Company had $ 11,298 and $ 59,340 , respectively, in commitments to sell mortgage loans.

At December 31, 2025 and September 30, 2025, the Company had $ 38,457 and $ 28,460 , respectively, in commitments to acquire mortgage loans, which are included in mortgage loan commitments above.

At March 31, 2026, the unfunded commitment on home equity lines of credit, including commitments for accounts suspended as a result of material default or a decline in equity, was $ 5,701,479 .

At March 31, 2026 and September 30, 2025, the Company had $ 0 and $ 59,340 , respectively, in commitments to sell mortgage loans.

At March 31, 2026 and September 30, 2025, the Company had $ 68,055 and $ 28,460 , 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.

The Company is undergoing an escheat audit covering the states of Ohio, Kentucky and Florida.

Any potential loss, or range of potential loss, that may result from this matter is not reasonably estimable at December 31, 2025.

Any potential loss, or range of potential loss, that may result from this matter is not reasonably estimable at March 31, 2026.

The Company and its subsidiaries are subject to various legal actions arising in the normal course of business.

4 unchanged sentences

Investment Securities Available for Sale— Investment securities available for sale are recorded at fair value on a recurring basis.

At December 31, 2025 and September 30, 2025, this includes $ 454,493 and $ 520,659 , respectively, of investments in U.S.

At March 31, 2026 and September 30, 2025, this includes $ 454,625 and $ 520,659 , respectively, of investments in U.S.

government and agency obligations including U.S.

1 unchanged sentence

The fair values of investment securities represent unadjusted price estimates obtained from independent third-party nationally recognized pricing services using pricing models or quoted prices of securities with similar characteristics and are included in Level 2 of the hierarchy.

Third-party pricing is reviewed on a monthly basis for

reasonableness based on the market knowledge and experience of company personnel that interact daily with the markets for these types of securities.

Third-party pricing is reviewed on a monthly basis for reasonableness based on the market knowledge and experience of company personnel that interact daily with the markets for these types of securities.

Mortgage Loans Held for Sale— The fair value of mortgage loans held for sale is estimated on an aggregate basis using a market approach based on quoted secondary market pricing for loan portfolios with similar characteristics.

2 unchanged sentences

This election is expected to reduce volatility in earnings related to market fluctuations between the contract trade and settlement dates.

At December 31, 2025 and September 30, 2025, there were $ 11,365 and $ 22,861 of loans held for sale subject to pending agency contracts measured at fair value, respectively, with unpaid principal balances of $ 11,149 and $ 22,306 .

For the three months ended December 31, 2025 and December 31, 2024, net gain (loss) on the sale of loans included $( 110 ) and $( 57 ), related to gains or losses during the period due to changes in the fair value of loans held for sale subject to pending agency contracts.

At December 31, 2025 and September 30, 2025, there were $ 3,075 and $ 34,801 of loans held for sale carried at cost, respectively.

At March 31, 2026 and September 30, 2025, there were $ 0 and $ 22,861 of loans held for sale subject to pending agency contracts measured at fair value, respectively, with unpaid principal balances of $ 0 and $ 22,306 .

For the three and six months ended March 31, 2026, net gain (loss) on the sale of loans included $( 255 ) and $( 365 ), respectively, compared to $ 60 and $( 267 ) for the three and six months ended March 31, 2025, related to gains or losses during the period due to changes in the fair value of loans held for sale subject to pending agency contracts.

At March 31, 2026 and September 30, 2025, there were $ 0 and $ 34,801 of loans held for sale carried at cost, respectively.

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

12 unchanged sentences

Real Estate Owned— Real estate owned includes real estate acquired as a result of foreclosure or by deed in lieu of foreclosure and is carried at the lower of the cost basis or fair value, less estimated costs to dispose.

The carrying amounts of real estate owned at December 31, 2025 and September 30, 2025, were $ 1,975 and $ 1,921 , respectively.

The carrying amounts of real estate owned at March 31, 2026 and September 30, 2025, were $ 1,383 and $ 1,921 , respectively.

Fair value is estimated under the market approach using independent third party appraisals.

As these properties are actively marketed, estimated fair values may be adjusted by management to reflect current economic and market conditions.

At December 31, 2025 and September 30, 2025, these adjustments were not significant to reported fair values.

At December 31, 2025 and September 30, 2025, $ 2,413 and $ 2,355 , 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 $ 438 and $ 434 , respectively.

There were no real estate owned carried at their original or adjusted cost basis at December 31, 2025 and September 30, 2025.

At March 31, 2026 and September 30, 2025, these adjustments were not significant to reported fair values.

At March 31, 2026 and September 30, 2025, $ 1,726 and $ 2,355 , 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 $ 343 and $ 434 , respectively.

There were no real estate owned carried at their original or adjusted cost basis at March 31, 2026 and September 30, 2025.

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 flow hedges.

4 unchanged sentences

Interest rate lock commitments are commitments to lend at interest rates and amounts defined prior to funding.

The fair value of interest rate lock commitments is adjusted by a closure rate based on the estimated percentage of commitments that will result in closed loans.

The fair value of interest rate lock commitments is adjusted by a

closure rate based on the estimated percentage of commitments that will result in closed loans.

The range and weighted average impact of the closure rate is included in quantitative information about significant unobservable inputs later in this note.

2 unchanged sentences

Forward commitments on contracts to deliver mortgage loans are included in Level 2 of the hierarchy.

Assets and liabilities carried at fair value on a recurring basis in the CONSOLIDATED STATEMENTS OF CONDITION at December 31, 2025 and September 30, 2025, are summarized below.

Assets and liabilities carried at fair value on a recurring basis in the CONSOLIDATED STATEMENTS OF CONDITION at March 31, 2026 and September 30, 2025, are summarized below.

Recurring Fair Value Measurements at Reporting Date Using

9 unchanged sentences

government and agency obligations 3,966 — 3,966 —

Mortgage loans held for sale 11,365 — 11,365 —

Interest rate lock commitments — — — —

Total $ 454,625 $ — $ 454,625 $ —

Forward commitments for the sale of mortgage loans $ 63 $ — $ 63 $ —

Interest rate lock commitments $ 45 $ — $ — $ 45

Total $ 45 $ — $ — $ 45

17 unchanged sentences

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).

Three Months Ended December 31,

Three Months Ended March 31, Six Months Ended March 31,

2026 2025 2026 2025

Beginning balance $ — $ 26 $ 272 $ 395

11 unchanged sentences

Collateral-dependent loans, net of allowance $ 45,949 $ — $ — $ 45,949

Mortgage loans held for sale 5,051 — 5,051 —

Real estate owned (1)

14 unchanged sentences

The following provides quantitative information about significant unobservable inputs categorized within Level 3 of the Fair Value Hierarchy.

December 31, 2025 Valuation Technique(s) Unobservable Input Range Weighted Average

March 31, 2026 Valuation Technique(s) Unobservable Input Range Weighted Average

Collateral-dependent loans, net of allowance $ 45,949 Market comparables of collateral discounted to estimated net proceeds Discount appraised value to estimated net proceeds based on historical experience:

• Residential Properties 0 - 28 % 3.4 %

Interest rate lock commitments $( 45 ) Quoted Secondary Market pricing Closure rate 0 - 100 % 79.5 %

September 30, 2025 Valuation Technique(s) Unobservable Input Range Weighted Average

1 unchanged sentence

• Residential Properties 0 - 28 % 3.2 %

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

Interest rate lock commitments $ 272

Quoted Secondary Market pricing Closure rate 0 - 100 % 98.7 %

The following tables present the estimated fair value of the Company’s financial instruments and their carrying amounts as reported in the CONSOLIDATED STATEMENTS OF CONDITION .

December 31, 2025

March 31, 2026

Carrying Fair Level 1 Level 2 Level 3

8 unchanged sentences

Cash collateral received from or held by counterparty 54,718 54,718 54,718 — —

Derivatives — — — — —

Checking and savings accounts $ 2,658,161 $ 2,658,161 $ — $ 2,658,161 $ —

26 unchanged sentences

These derivatives are used to hedge the forecasted cash outflows associated with the Company's FHLB borrowings and brokered certificates of deposit.

Cash flows from derivatives used to manage interest rate

risks are classified as operating activities in the cash flow statement.

The Company classifies both the earnings and cash flow

impact from these derivatives consistent with the underlying hedged item.

Cash flows from derivatives used to manage interest rate risks are classified as operating activities in the cash flow statement.

The Company classifies both the earnings and cash flow impact from these derivatives consistent with the underlying hedged item.

Cash flow hedges are initially assessed for effectiveness using regression analysis.

2 unchanged sentences

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

All derivative positions continue to be highly effective as of December 31, 2025.

All derivative positions continue to be highly effective as of March 31, 2026.

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.

6 unchanged sentences

The following tables provide the locations within the CONSOLIDATED STATEMENTS OF CONDITION for fair values of derivative instruments at the reporting dates and their related notional values.

December 31, 2025 September 30, 2025

March 31, 2026 September 30, 2025

Weighted Average Weighted Average

8 unchanged sentences

$ 3,525,000 2.6 3.37 % $ 3,575,000 2.7 3.32 %

December 31, 2025 September 30, 2025

March 31, 2026 September 30, 2025

Notional Value Fair Value Notional Value Fair Value

2 unchanged sentences

Other Assets $ — $ — $ 11,500 $ 272

Other Liabilities 2,619 ( 45 ) — —

Forward Commitments for the sale of mortgage loans

2 unchanged sentences

The following tables present the net gains and losses recorded within the CONSOLIDATED STATEMENTS OF INCOME and the CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME relating to derivative instruments.

Three Months Ended

Location of Gain or (Loss) December 31,

Three Months Ended Six Months Ended

Location of Gain or (Loss) March 31, March 31,

Recognized in Income 2026 2025 2026 2025

1 unchanged sentence

Amount of gain/(loss) recognized Other comprehensive income $ 22,018 $ ( 29,423 ) $ 26,108 $ 47,544

Amount of gain reclassified from AOCI

Interest expense:

Amount of gain reclassified from AOCI Interest expense:

Borrowed funds and Deposits 3,281 11,161 9,862 25,973

2 unchanged sentences

Forward commitments for the sale of mortgage loans Net gain/(loss) on the sale of loans 63 ( 19 ) 351 51

The Company estimates that $ 1,751 of the amounts reported in AOCI will be reclassified as a reduction to interest expense during the twelve months ending December 31, 2026.

The Company estimates that $ 9,108 of the amounts reported in AOCI will be reclassified as a reduction to interest expense during the twelve months ending March 31, 2027.

Derivatives contain an element of credit risk which arises from the possibility that the Company will incur a loss because a counterparty fails to meet its contractual obligations.

4 unchanged sentences

This process shifts the risk away from the counterparty, since the clearing organization acts as an intermediary on each cleared transaction.

At December 31, 2025 and September 30, 2025, there was $ 58,809 and $ 6,910 , respectively, of cash collateral included in other assets, and $ 0 and $ 50,032 , respectively, included in investment securities related to initial margin requirements that are held by the central clearing organization.

At March 31, 2026 and September 30, 2025, there

was $ 54,718 and $ 6,910 , respectively, of cash collateral included in other assets, and $ 0 and $ 50,032 , respectively, included in investment securities related to initial margin requirements that are held by the central clearing organization.

For derivative transactions cleared through certain clearing parties, variation margin payments are recognized as settlements on a daily basis.

1 unchanged sentence

RECENT ACCOUNTING PRONOUNCEMENTS

Adopted during the three months ended December 31, 2025

Adopted during the six months ended March 31, 2026

In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740) – Improvements to Income Tax Disclosures".

3 unchanged sentences

The Company adopted the amended guidance on October 1, 2025 and will provide required disclosures, applied retrospectively, in the Annual Report on Form 10-K for the fiscal year ending September 30, 2026.

Issued but not yet adopted as of December 31, 2025

Issued but not yet adopted as of March 31, 2026

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

5 unchanged sentences

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.

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 accounts receivable and contract assets under ASC 606.

The update is effective for fiscal years beginning after December 15, 2025, and interim reporting periods within those annual reporting periods.

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 does not expect this ASU to have a material impact on the Company's consolidated financial statements.

The adoption of this accounting guidance is not expected 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) .

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The amendments in this ASU may be applied either prospectively to financial statements issued for reporting periods after the effective date of this ASU, or retrospectively to all prior periods presented in the financial statements, or through a modified transition approach that is based on the status of the respective projects.

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

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

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

Purchased Loans .

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 new guidance is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within those annual reporting periods, 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 does not expect this ASU to have a material impact on the Company's consolidated financial statements.

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

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-Q

Item 1. Financial Statements