Contact: David Reavis         (216) 429-5036 Exhibit 99.1
For release Wednesday, October 29, 2014

TFS Financial Corporation's Earnings Highest Since 2007 IPO
Earns Nearly $66 Million, Most Since S&L Went Public

(Cleveland, OH - October 29, 2014) - TFS Financial Corporation (NASDAQ: TFSL) (the "Company"), the holding company for Third Federal Savings and Loan Association of Cleveland (the "Association"), today announced results for the three months and fiscal year ended September 30, 2014.
The Company reported net income of $65.9 million for the fiscal year ended September 30, 2014, compared to net income of $56.0 million for the fiscal year ended September 30, 2013. The increase in net income for the fiscal year is primarily the result of a decrease in the provision for loan losses, but also impacted by an increase in net interest income and a decrease in non-interest expenses, partially offset by a lower gain on the sale of loans. The Company reported net income of $15.9 million for the quarter ended September 30, 2014, compared to net income of $15.8 million for the quarter ended September 30, 2013, with no significant individual variances between the two periods.
"This has been a year full of sunshine and blue skies for Third Federal,”  said Marc A. Stefanski, chairman and CEO.   “We’re proud to announce our highest annual earnings since becoming a public company in 2007. We have also remained focused on our three-dimensional approach of adding value for our shareholders.  We have reinstated our dividend, grown the balance sheet, and are actively buying back our stock. Thanks to our associates for their hard work, our customers for their loyalty, and our shareholders and communities for their ongoing support.  We look forward to continued success and sunny skies in the future."
Net interest income was slightly higher for both the quarter and fiscal year ended September 30, 2014, as compared to the corresponding prior year period. The average cost of our interest-bearing liabilities has been reduced by managing retail deposit pricing and gathering additional funds as needed via wholesale channels. On a fiscal year basis, the lower interest expense, resulting from lower interest rates on deposits and a shift to more borrowed funds, was partially offset by lower interest income due to lower yields on interest-earning assets. Continuing the trend of the past few fiscal years, while overall net interest income has increased, both current year interest income and expense were lower than the prior year. However, on a quarterly basis, while net interest income was still higher in the current period, both interest income and expense were higher in the quarter ended September 30, 2014 than the quarter ended September 30, 2013. Net interest income was $66.7 million for the quarter ended September 30, 2014 and $66.1 million for the quarter ended September 30, 2013. Net interest income increased $2.8 million, or 1.1%, to $271.4 million for the fiscal year ended September 30, 2014 from $268.6 million for the fiscal year ended September 30, 2013. The interest rate spread was 2.16% for the quarter ended September 30, 2014 and 2.24% for the quarter ended September 30, 2013, as an increase in longer duration FHLB advances improved our interest rate risk characteristics, but tempered the decline in the average cost of interest-bearing liabilities. The interest rate spread for the fiscal year ended September 30, 2014 was 2.26% compared to 2.25% last fiscal year. The net interest margin for the quarter ended September 30, 2014 was 2.34% compared to 2.43% for the quarter ended September 30, 2013. The net interest margin for the fiscal year ended September 30, 2014 was 2.42% as compared to 2.46% for the fiscal year ended September 30, 2013.
The Company continues to experience improving loan performance metrics, resulting in a lower provision for loan losses and net charge-offs for this fiscal year compared to last year. The Company recorded a provision for loan losses of $19.0 million for the fiscal year ended September 30, 2014 compared to $37.0 million for the fiscal year ended September 30, 2013. The Company reported $30.2 million of net loan charge-offs for the fiscal year ended September 30, 2014 compared to $44.9 million for the fiscal year ended September 30, 2013. Of the $30.2 million of net charge-offs in the current fiscal year, $13.5 million occurred in the residential core portfolio (first mortgage loans other than the Home Today portfolio), $11.0 million occurred in the equity loans and lines of credit portfolio and $5.7 million occurred in the Home Today portfolio. The allowance for loan losses was $81.4 million, or 0.76% of total loans receivable, at September 30, 2014, compared to $92.5 million, or 0.91% of total loans receivable, at September 30, 2013. The Company recorded a provision for loan losses of $4.0 million for both of the three month periods ended September 30, 2014 and September 30, 2013. The Company reported $5.1 million of net loan charge-offs for the three months ended September 30, 2014 compared to $8.0 million for the three months ended September 30, 2013. Of the $5.1 million of net charge-offs, $2.3 million occurred in the residential core portfolio, $2.0 million occurred in the equity loans and lines of credit portfolio and $0.9 million occurred in the Home Today portfolio. The Home Today portfolio, which essentially has been in run-off mode status since 2009, totaled $154.2 million at September 30, 2014 and $178.4 million at September 30, 2013.



The following information was filed by Tfs Financial Corp (TFSCY) on Wednesday, October 29, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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