Message from Marc

March 2025

Dear loyal Third Federal customer,

In 2024, Third Federal adjusted to a shifting economic climate and increased earnings 6%, to nearly $80 million from 2023.

We were able to successfully navigate margin compression and reduce our expense-to-asset ratio to 1.20 from 1.31 in 2023, through prudent cost-management efforts, and without laying off associates in the process. Our associates are the foundation of our success. Their focus on what is best for our customers ensured that much of our $745 million in deposit growth in 2024 came through our retail branch system in Ohio and Florida.

Home equity originations outpaced 2023 by more than 30% from $1.44 billion to $1.91 billion. All of our capital ratios continue to exceed the amounts required to be well capitalized, including a Tier I capital ratio of nearly 11%.

The Third Federal Foundation is building strong and stable communities through the support of programs and outreach services focused on neighborhoods and promoting homeownership. It surpassed a significant milestone this year with more than $60 million in total giving since its creation in 2007.

I am optimistic for the future, and I know that regardless of what comes, we are ready. Third Federal is built to last. We are strong, stable, and safe.

Thank you for your continued support.

Sincerely,

Marc A. Stefanski
Chairman and CEO