WSFS Financial Completes Integration And Rebranding of Beneficial Bank Into WSFS Bank

WSFS Financial Corporation has completed the systems integration and rebranding of Beneficial Bank into its primary subsidiary, WSFS Bank.

All Beneficial Bank accounts have successfully converted to WSFS Bank accounts.  All legacy Beneficial Bank Customers, now WSFS Bank Customers, have full access to WSFS Bank services and solutions, including more than 90 retail banking offices across Delaware, the City of Philadelphia, southeastern Pennsylvania, and southern New Jersey; and a network of nearly 500 WSFS ATMs.

WSFS President and Chief Executive Officer, Rodger Levenson said, “We welcome our newest Customers to WSFS Bank.  This integration and rebranding effort caps a year-long process to thoughtfully combine the two longest-standing community banks of the Greater Delaware Valley to create the largest locally headquartered bank with the benefit of over 300 combined years of service to our region.”

He continued, “At more than $12 billion in assets, WSFS Bank now fills a long-standing gap between big banks and smaller community banks in the Greater Delaware Valley.  This unique market positioning will enable us to continue delivering sustainable high performance for years to come.”

WSFS Bank is now the only bank with distinct market advantages, including the size and scale to compete with banks of all sizes, local market knowledge and decision making, a full-service product suite, and the most engaged group of Associates who live its mission—We Stand For Service—in their daily delivery of stellar Customer experiences.

Over the weekend, WSFS continued to execute on its previously announced Retail banking office optimization plan to consolidate 25 percent of the combined WSFS and Beneficial banking locations.  WSFS consolidated 21 offices out of a total of 14 Beneficial and 11 WSFS locations that are scheduled to close.

The successful combination is WSFS’ eighth acquisition since 2010, including traditional banks and other fee-based companies.  Such growth has uniquely positioned WSFS to build deeper relationships with its Customers across an expanded footprint.

Source: WSFS

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