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PMI Mortgage Insurance Co. Gives TFS First-Annual Award for Loan Performance
BauerFinancial 5-Star (Superior) Rating Again Achieved for Quarter Ended March 31
CLEVELAND, July 1, 2010 (GLOBE NEWSWIRE) -- Third Federal Savings & Loan (Nasdaq:TFSL) has been honored by two national groups for its lending portfolio and its strength.
PMI Mortgage Insurance Co. (PMI) presented Third Federal with its first annual award for top quality lenders. The award is based on the quality of the mortgage portfolio with PMI insured between March 2009 and February 2010 and as measured by criteria specific to the portfolio of loans PMI insures. Third Federal is part of a select group of 20 lenders from throughout the nation, and one of only two Ohio lenders that PMI does business with that were selected to receive this inaugural award .
Third Federal has also again been recognized by BauerFinancial as a 5-star (superior) bank, an honor the bank has been granted 21 years in a row. The independent rating agency collects quarterly data on banks and institutions and ranks them based on specific criteria centered on safety and soundness. The data is based on Third Federal's financial filings from March 31, 2010.
"On behalf of our nearly 1000 associates, I am honored to receive these distinctions from two venerable institutions," said Marc A. Stefanski, chairman and CEO of Third Federal. "While we are not immune to the tough economy, we continue to lend to a quality customer base who want to achieve the American dream of homeownership. We're here to help those that can afford a home make that dream a reality."
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, 2010, Third Federal assets totaled $10.8 billion.