Third Federal Bank Appoints John R. Stranford Chairman of the Board And Carl F. Gregory Chairman Emeritus

Apr 27, 2001, 01:00 ET from TF Financial Corporation

    NEWTOWN, Pa., April 27 /PRNewswire/ -- Third Federal Bank, wholly-owned
 subsidiary of TF Financial Corporation (Nasdaq:   THRD), announced that John R.
 Stranford, President and Chief Executive Officer of the Corporation, has been
 named Chairman of the Board of Directors of Third Federal Bank, effective
 April 25, 2001.  Mr. Stranford succeeds Carl F. Gregory who retired as
 Chairman of the Board of the Bank.  Mr. Gregory has been named Chairman
 Emeritus of the Bank and will continue to serve on the Board of Directors of
 the Bank and the Corporation.
     Mr. Stranford expressed his appreciation for the years of service that
 Mr. Gregory has provided to both the Corporation and the Bank.  He stated,
 "Carl has been associated with the Bank for over 39 years and has been a
 colleague of mine for over 30 years.  In such time, he has provided tireless
 leadership over and guidance to the Bank.  We are extremely grateful for his
 years of dedicated service and are happy he will remain a director of the
 Corporation and the Bank following his retirement as Chairman of the Board.
 We are fortunate that the Bank will continue to reap the benefits of Carl's
 experience through his continued service as Chairman Emeritus."
     TF Financial Corporation is a holding company whose principal subsidiary
 is Third Federal Bank, which operates 14 full service retail and commercial
 banking offices in Philadelphia and Bucks County, Pennsylvania and in Mercer
 County, New Jersey.  In addition, the Bank's website can be found at
 www.thirdfedbank.com.
 
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SOURCE TF Financial Corporation
    NEWTOWN, Pa., April 27 /PRNewswire/ -- Third Federal Bank, wholly-owned
 subsidiary of TF Financial Corporation (Nasdaq:   THRD), announced that John R.
 Stranford, President and Chief Executive Officer of the Corporation, has been
 named Chairman of the Board of Directors of Third Federal Bank, effective
 April 25, 2001.  Mr. Stranford succeeds Carl F. Gregory who retired as
 Chairman of the Board of the Bank.  Mr. Gregory has been named Chairman
 Emeritus of the Bank and will continue to serve on the Board of Directors of
 the Bank and the Corporation.
     Mr. Stranford expressed his appreciation for the years of service that
 Mr. Gregory has provided to both the Corporation and the Bank.  He stated,
 "Carl has been associated with the Bank for over 39 years and has been a
 colleague of mine for over 30 years.  In such time, he has provided tireless
 leadership over and guidance to the Bank.  We are extremely grateful for his
 years of dedicated service and are happy he will remain a director of the
 Corporation and the Bank following his retirement as Chairman of the Board.
 We are fortunate that the Bank will continue to reap the benefits of Carl's
 experience through his continued service as Chairman Emeritus."
     TF Financial Corporation is a holding company whose principal subsidiary
 is Third Federal Bank, which operates 14 full service retail and commercial
 banking offices in Philadelphia and Bucks County, Pennsylvania and in Mercer
 County, New Jersey.  In addition, the Bank's website can be found at
 www.thirdfedbank.com.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X86846182
 
 SOURCE  TF Financial Corporation