Item 8.01 Other Events.
On December 15, 2008, the Board of Directors of TFS Financial Corporation (the
"Company"), approved the Company's third repurchase program which authorizes the
repurchase of up to an additional 2,200,000 shares of the Company's outstanding
common stock. The new repurchase program will commence immediately.
The stock repurchase program may be carried out at the direction of management,
subject to the limitations set forth in Rule 10b-18 of the Securities and
Exchange Commission and other legal requirements, and any further limitations
that may be established by the Board of Directors. Repurchases may be made
through open market purchases, block trades, and in negotiated private
transactions. The stock may be repurchased on an ongoing basis and will be
subject to the availability of stock, general market conditions, the trading
price of the stock, alternative uses for capital and the Company's financial
performance. The program may be suspended, terminated or modified at any time
for any reason. Any repurchased shares will be held as treasury stock and will
be available for general corporate purposes.
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