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Third Federal Savings & Loan Association

TFS Financial Corporation is a federally chartered mid-tier stock holding company and owns 100% of the outstanding common stock of Third Federal Savings and Loan Association of Cleveland.

TFS Financial Corporation is subject to comprehensive regulation and examination by the Office of Thrift Supervision. At September 30, 2007, TFS Financial Corporation had consolidated assets of $10.3 billion, consolidated deposits of $8.1 billion and consolidated stockholders' equity of $2.0 billion. Its net income for the fiscal year ended September 30, 2007 was $25.6 million.

Third Federal Savings and Loan Association is a leading provider of home mortgages, home equity lines of credit and savings products. Founded in 1938 by Ben and Gerome Stefanski, Third Federal is dedicated to serving consumers with competitive rates and outstanding customer service.

Headquartered in Cleveland, Third Federal serves Ohio from 23 branches and eight loan offices and in Florida from 15 branches. As of August 31, 2008, Third Federal had about 930 associates and total assets of more than $10 billion. Third Federal is an equal housing lender and FDIC insured. Chairman and CEO is Marc A. Stefanski, a son of the founders.

Facts

KEY COMPETITIVE ADVANTAGE: CUSTOMER SERVICE
  • Third Federal has a seven-decade tradition of helping people realize the American dream of financial security by offering savings products such as certificates of deposits, savings accounts, money market accounts and high yield checking accounts.
  • The mission of Third Federal is to create value for its customers, the communities it serves and its associates. We do this by offering savings at high yields and mortgage products at low rates.
  • Third Federal has never sold the servicing of a home mortgage in its 70 year history nor does it assess penalties for mortgage prepayment.


FOCUSED ON GROWTH
  • Since 1988 when Marc Stefanski became chairman, Third Federal has grown from $1.8 billion to more than $10 billion in assets by focusing on internal growth and ongoing technological improvements.
  • Third Federal has approximately $2 billion in capital, making it one of the most highly capitalized financial institutions in the country. Florida deposits alone are nearly $3 billion.


NEWS HIGHLIGHTS
  • 04-Third Federal selected for 5 straight years as one of the 100 “Best Companies to Work For” in America
  • 05-Third Federal guarantees lowest rates on fixed rate mortgages
  • 06-Third Federal guarantees lowest rates on home equity lines of credit
  • 07-Third Federal announces completion of IPO on April 20/stock began trading on NASDAQ April 23
  • 08-Third Federal selected as a five-star (highest rating for safety & soundness) thrift by Bauer Financial for every consecutive quarter since the rating service was started 17 years ago
  • 08-Third Federal opens 15th Florida branch in Southeast Florida; three more planned for early 2009