Ringenbach Retiring; Weil to Become Chief Operating Officer of Third Federal Savings & Loan

CLEVELAND, June 5, 2012 (GLOBE NEWSWIRE) -- Third Federal Savings & Loan Association of Cleveland ("Third Federal"), the primary business subsidiary of TFS Financial Corporation (Nasdaq:TFSL), announces the retirement of John P. Ringenbach as Chief Operating Officer (COO), effective July 6, 2012. Meredith S. Weil will assume the role of COO on the date of Mr. Ringenbach's retirement.

"John has been an integral part of our success story during the last 20 years, not only through his business acumen, but also a role model and mentor throughout the company," said Chairman and CEO Marc A. Stefanski. "On behalf of our board, our management team and our associates, I thank him and wish him the best in his retirement. Because of Meredith's wide range of experience and her time on the executive management team she is well-positioned for the role of Chief Operating Officer."

Ms. Weil, 45, has been in banking for 20 years and with Third Federal for nearly 13 years, serving most recently as Chief Retail Officer and, prior as Director of Marketing. Since joining Third Federal, she has managed several departments, including: marketing, retail delivery operations including the thrift's customer call center (customer service), internet services, and deposit operations. Prior to joining Third Federal, she was a Vice President of Strategic Management at Key Bank in Cleveland.

Ms. Weil holds a Bachelor of Science degree in computer science from Trinity College in Hartford, CT, and a Master's in Business Administration with a concentration in Finance from Case Western Reserve University's Weatherhead School of Management in Cleveland.

Third Federal Savings and Loan is a leading provider of savings and mortgage products and was founded in Cleveland in 1938 as a mutual association by Ben and Gerome Stefanski. Third Federal's parent, TFS Financial Corporation became a public company in 2007. Third Federal is dedicated to serving consumers with competitive rates and outstanding service. Third Federal, an equal housing lender, has 22 full service branches in Northeast Ohio, eight lending offices in Central and Southern Ohio, and 17 full service branches throughout Florida. As of March 31, 2012, TFS Financial assets totaled $11.3 billion.

The TFS Financial Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3622

CONTACT: Jennifer L. Rosa
         Public Relations Manager
         (216) 429-5037
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