CLEVELAND, June 9, 2011 (GLOBE NEWSWIRE) -- For 23 years, Third Federal Savings and Loan (Nasdaq:TFSL) has been recognized by BauerFinancial with its 5-star (superior) rating. The Savings & Loan has been given this honor since Bauer began rating banks beginning in 1988.
BauerFinancial, an independent rating agency, collects quarterly data on banks and financial institutions and ranks them based on specific criteria centered on safety and soundness. No institution can pay to be on the list, nor can it elude its inclusion. The latest data is based on Third Federal's financial filings from March 31, 2011.
"To be rated as a superior institution during the highs and the lows of the last two-plus decades affirms our mission as a safe haven for our customers' deposits and the best place for their loans," said Marc A. Stefanski, chairman and CEO of Third Federal.
Third Federal Savings and Loan is a leading provider of savings and mortgage products. Founded in Cleveland in 1938 as a mutual association by Ben and Gerome Stefanski, Third Federal became a public company in 2007. The Association 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, 2011, Third Federal assets totaled $11 billion.
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