CLEVELAND , April 4, 2007 (PRIME NEWSWIRE) -- TFS Financial Corporation, the holding company for Third Federal Savings and Loan Association of Cleveland, announced today that the offering period for its subscription and community offering expired, as scheduled, on March 26, 2007. Based upon preliminary results, it is anticipated that no further orders will be accepted.
The number of shares to be sold in the stock offering will be based on a final appraisal, which has not been completed and which is subject to regulatory approval. In addition, completion of the stock offering is subject to receipt of final Office of Thrift Supervision approval. Closing of the offering will not occur, and trading in the shares of common stock to be issued in the stock offering will not begin, until all approvals have been received. It is expected that the shares of common stock will begin trading in late April and will be quoted on the Nasdaq Global Select Market under the symbol "TFSL."
This release is neither an offer to sell nor a solicitation of an offer to buy common stock. The offer is made only by the prospectus. The shares of common stock are not savings accounts, may lose value and are not insured by the Federal Deposit Insurance Corporation or any government agency.
This news release contains certain forward-looking statements about the proposed stock offering of TFS Financial Corporation. These include statements regarding the anticipated completion date of the stock issuance.
Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words like "believe," "expect," "anticipate," "estimate" and "intend" or future or conditional verbs such as "will," "would," "should," "could" or "may." Certain factors that could cause actual results to differ materially from expected results include changes in general economic conditions, legislative and regulatory changes and changes in the securities markets.