Tfs Financial Corp (TFSCY) SEC Filing 10-K Annual report for the fiscal year ending Friday, September 30, 2011

Exhibit 99.1

Contact: Jennifer Rosa (216) 429-5037

For release Wednesday, November 16, 2011

TFS Financial Corporation Announces Fourth Quarter and Year Ended September 30, 2011 Financial Results

(Cleveland, OH—November 16, 2011)—TFS Financial Corporation (NASDAQ: TFSL) (the “Company”), the holding company for Third Federal Savings and Loan Association of Cleveland (the “Association”), today announced quarterly and fiscal year results for the periods ended September 30, 2011.

“Despite high unemployment, a weak economy and a stressed housing market, we remained profitable and continued to grow our business through geographic expansion, as well as competitive home mortgage and savings rates. We look forward to continuing to provide value for our communities, our customers, and our stockholders,” said Marc A. Stefanski, chairman and CEO of Third Federal.

The Company reported net income of $8.5 million for the three months ended September 30, 2011, compared to a net loss of $10.7 million for the three months ended September 30, 2010. This change was mainly attributable to an increase in net interest income and a decrease in the provision for loan losses. The Company reported net income of $9.3 million for the year ended September 30, 2011, compared to net income of $11.3 million for the year ended September 30, 2010. This change was mainly attributable to a decrease in non-interest income and an increase in non-interest expense, partially offset by an increase in net interest income and a decrease in the provision for loan losses.

Net interest income increased $8.9 million, or 16%, to $64.0 million for the three months ended September 30, 2011 from $55.1 million for the three months ended September 30, 2010. Net interest income increased $20.1 million, or 9%, to $247.6 million for the year ended September 30, 2011 from $227.5 million for the year ended September 30, 2010. Low interest rates have decreased the yield on interest-earning assets, and to an even greater extent, the rate paid on deposits and borrowed funds, and as a result, the interest rate spread has improved throughout the current fiscal year. The interest rate spread increased 20 basis points to 1.97% for the year ended September 30, 2011, compared to 1.77% for the year ended September 30, 2010.

The Company recorded a provision for loan losses of $19.0 million for the three months ended September 30, 2011 compared to $35.0 million for the three months ended September 30, 2010. The provisions exceeded net charge-offs of $15.3 million and $20.2 million for the three months ended September 30, 2011 and September 30, 2010, respectively. The Company recorded a provision for loan losses of $98.5 million for the year ended September 30, 2011 compared to $106.0 million for the year ended September 30, 2010. The provisions recorded