EXHIBIT 99






                                  NEWS RELEASE




TF FINANCIAL CORPORATION
3 Penns Trail
Newtown, Pennsylvania 18940


For verification, contact:          John R. Stranford, President and CEO
                                    Bill Niemczura, Senior Vice President
                                      and Chief Financial Officer

Phone:      (215) 579-4000
Fax:      (215) 579-4748
For immediate release April 9, 1997



      Newtown, Pennsylvania, April 9, 1997 - - TF Financial Corporation (NASDAQ:
THRD),  the holding company for Third Federal Savings Bank,  today announced the
completion of the  repurchase of 214,869  shares of the Company's  common stock.
This repurchase represents  approximately five percent of the outstanding shares
prior to the  commencement of the repurchase  program of the company and reduces
the total outstanding shares to 4,082,517.

      John R. Stranford,  President of TF Financial  Corporation,  said that the
repurchased shares will be retained as treasury stock.

      Third Federal Savings Bank is headquartered  in Newtown,  Pennsylvania and
operates through its main office and fourteen retail office locations throughout
Northeast  Philadelphia,  Lower Bucks County and Mercer County,  New Jersey. The
Company's Stock is traded under the symbol "THRD" on the NASDAQ Stock Market.