Third Federal Savings & Loan Association of Cleveland, the primary business subsidiary of TFS Financial Corporation, announced that Chief Financial Officer Meredith S. Weil will retire effective January 2027. The company also named James E. LaRocca as the new Finance and Accounting Officer, who will assume the role on June 29, 2026.
Weil has served Third Federal since 1999, becoming CFO in 2024 after a decade as COO. During her tenure she has overseen the company’s transition to a more diversified mortgage and savings portfolio and helped maintain a strong dividend yield of 7.94% over 13 consecutive years. Her retirement marks the end of a 28‑year career with the firm, during which she also served on the Board of Directors since 2014.
LaRocca brings 17 years of financial leadership, most recently as EVP and CFO of Westfield Bank, which was acquired by First Financial Bancorp in November 2025. He holds a CPA license in Ohio and an MBA from Baldwin‑Wallace University. His appointment is part of Third Federal’s phased succession plan, allowing him to begin as Finance and Accounting Officer in June and transition to CFO upon Weil’s retirement in January, ensuring continuity of financial strategy and governance.
Third Federal’s balance sheet remains robust, with total assets of $17.50 billion as of December 31, 2025, and record earnings of $91 million for fiscal year 2025. The company’s dividend policy has been consistent, and its valuation metrics suggest a stable return to shareholders. The leadership transition is expected to preserve the firm’s financial discipline and support its ongoing expansion into new mortgage markets.
Marc A. Stefanski, Chairman and CEO, said, “Meredith’s impact in the last nearly 30 years has been fundamental to the success of our company. Her commitment to our values and our associates has been vital.” He added, “We welcome Jim to the Third Federal family and look forward to his contributions for years to come.” The succession plan underscores Third Federal’s focus on long‑term stability and strategic growth.
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