EXHIBIT 99







                                  News Release
                                  ------------

January 18, 2000                                 Contact: Dennis R. Stewart, CFO
FOR IMMEDIATE RELEASE                                             (215) 579-4000

            TF Financial Corporation Announces Stock Buyback Program

Newtown,  Pennsylvania: TF Financial Corporation (Nasdaq National Market - THRD)
today  announced  that its Board of  Directors  has  authorized  a common  stock
repurchase  program.  John R. Stranford,  President and Chief Executive Officer,
said that the  Corporation  intends to repurchase up to 5% of the  Corporation's
outstanding  shares.  As a result,  as many as  142,638  shares of stock will be
repurchased from time to time through open market  transactions  during the next
twelve months,  subject to the availability of stock.  President  Stranford also
said that the repurchased shares would be held as treasury stock.

TF Financial  Corporation  is a holding  company whose  principal  subsidiary is
Third Federal Savings Bank, which operates 15 full service retail and commercial
banking offices in  Philadelphia  and Bucks County,  Pennsylvania  and in Mercer
County, New Jersey.