Welcome to our dedicated page for Wsfs Finl news (Ticker: WSFS), a resource for investors and traders seeking the latest updates and insights on Wsfs Finl stock.
WSFS Financial Corporation (WSFS) maintains this dedicated news hub for investors and stakeholders tracking its community banking, cash logistics, and wealth management developments. Access official press releases and curated updates covering strategic initiatives across all business segments.
This resource provides essential information about WSFS Bank's regional operations, Cash Connect's cash management innovations, and Wealth Management's advisory services. Find timely updates on financial results, leadership changes, and community partnership announcements.
Key content includes earnings reports, merger activity, technology implementations, and regulatory filings. Our editorial team verifies all information directly from WSFS sources to ensure accuracy and compliance with financial disclosure standards.
Bookmark this page for streamlined access to WSFS's latest developments. For comprehensive understanding of the company's 190-year legacy in financial services, combine these updates with our detailed WSFS Financial Corp profile.
WSFS Financial Corporation (NASDAQ: WSFS) announced the repayment of $100 million in senior debt with a 4.50% coupon rate, callable quarterly since June 15, 2021. The debt repayment was funded by proceeds from previously issued notes at a lower coupon rate of 2.75%. This strategic move is expected to enhance WSFS's balance sheet and reduce interest expenses, showcasing the company’s strong liquidity and financial stability. However, an additional interest expense of $1.1 million will be recognized in Q2 2021 due to unamortized debt issuance costs.
On June 10, 2021, WSFS Financial Corporation (NASDAQ: WSFS) and Bryn Mawr Bank Corporation (NASDAQ: BMTC) announced stockholder approval for the merger of BMTC into WSFS. This merger aims to enhance WSFS's competitive position as a leading regional bank, leveraging local market knowledge and a diverse product suite. Subject to regulatory approvals, the merger is expected to close in Q4 2021, with system conversion planned for January 2022. As of March 31, 2021, WSFS had $14.7 billion in assets, while BMTC reported $4.9 billion in corporate assets.
WSFS Bank, a subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), has promoted six Associates to Senior Vice President (SVP) roles. The newly appointed SVPs include Pamela Peters Arms, Douglas Blackman, Dennis Moyer, Randy Nachman, Scott Swingle, and Terence Young. This initiative, part of a succession planning strategy, aims to strengthen the bank's leadership. As of March 31, 2021, WSFS Financial Corporation reported $14.7 billion in assets and $24.7 billion in managed assets, operating across 111 locations in multiple states.
WSFS Bank announced the promotion of Shari Kruzinski to Executive Vice President, Director of Retail Delivery. With over 30 years in banking, Kruzinski has played a pivotal role in retail banking initiatives, especially during the pandemic. She has overseen multiple banking regions and was essential in integrating several banks into WSFS. This appointment aligns with the bank's succession planning and focus on talent development. As of March 31, 2021, WSFS Financial Corporation holds $14.7 billion in assets and operates 111 offices across several states.
On April 22, 2021, over 100 WSFS Bank Associates and their families participated in 'Take Your Children to the Community Day,' volunteering across the Greater Philadelphia and Delaware region. This event, which resumed after being canceled in 2020, aimed to instill the value of community service in children. Activities took place at various local nonprofits, focusing on safe, socially distanced volunteerism. WSFS Bank emphasized its commitment to community service through this initiative, highlighting longstanding partnerships with local organizations.
WSFS Financial Corporation (Nasdaq: WSFS) reported strong financial results for Q1 2021. Net income attributable to WSFS reached $65.1 million, up from $10.9 million YoY, with diluted EPS of $1.36. Total net revenue was $162 million. The company released $24 million from its allowance for credit losses, reflecting improved credit quality. Core fee revenue grew 20% year-over-year to $47.5 million. An 8% increase in the quarterly cash dividend to $0.13 per share was announced, payable on May 21, 2021.
WSFS Financial Corporation (Nasdaq: WSFS) announced it will report its first quarter earnings on April 22, 2021, followed by a conference call at 1:00 p.m. EDT on April 23, 2021. Interested individuals can join the call by dialing 1-877-312-5857 and using conference ID # 4169716. A rebroadcast will be available from April 23 to May 4, 2021. As of December 31, 2020, WSFS Financial had $14.3 billion in assets and $24.2 billion in assets under management, operating 112 offices across multiple states.
WSFS Financial Corporation has announced the opening of its new banking office in Media, PA. The Granite Run office features modern banking pods aimed at enhancing customer service. Located strategically on the Route 1 corridor, this new office extends WSFS's presence in Delaware County. The office operates six days a week, providing comprehensive banking services to local communities. As of December 31, 2020, WSFS Financial Corporation holds $14.3 billion in assets, with 112 offices across multiple states.
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