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Exhibit 21.1

Subsidiaries of the Registrant

The following is a list of the material subsidiaries of TFS Financial Corporation:

Name						State of Incorporation
Third Federal Savings and Loan Association of Cleveland						Federal*
Third Capital, Inc.						Delaware*
Third Cap Associates, Inc.						Ohio**
FBE, Inc.						Ohio***

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* Subsidiary of TFS Financial Corporation

** Subsidiary of Third Capital, Inc.

*** Subsidiary of Third Federal Savings and Loan Association of Cleveland