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 (Nasdaq: WSFS) is a multibillion-dollar financial services company and the parent of WSFS Bank, which it describes as the oldest and largest locally headquartered bank and wealth management franchise in the Greater Philadelphia and Delaware region. This news page aggregates company-issued updates, giving readers a single place to review recent announcements and disclosures about WSFS and its banking and wealth management activities.
Visitors to this page can find earnings-related news, including press releases that WSFS files and furnishes via Form 8-K to report quarterly results and provide earnings release supplements and investor presentations. These items offer insight into the company’s financial condition and the information management presents to investors and analysts.
The feed also includes capital markets announcements, such as the company’s public offering of 5.375% Fixed-to-Floating Rate Senior Unsecured Notes due 2035 and related pricing and completion updates. These releases describe the terms of the notes, the intended use of proceeds and the associated SEC registration materials.
In addition, readers can see corporate governance and leadership news, for example the appointment of a new member to the WSFS Board of Directors, as well as community and philanthropic updates from the WSFS CARES Foundation. Recent items highlight grants to organizations focused on affordable housing, food insecurity and family homelessness, along with information about associate volunteer efforts such as We Stand for Service Day.
By reviewing this news page regularly, investors and other interested parties can follow WSFS Financial Corporation’s official communications on financial performance, capital raising, board composition and community initiatives, all sourced from company press releases and related disclosures.
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WSFS Bank has announced a $200,000 donation to assist local small businesses affected by the pandemic. The funds will go through local community development financial institutions (CDFIs) and will aid businesses with annual revenues under $500,000 that have faced negative impacts from COVID-19. Additionally, WSFS managed over 5,000 Paycheck Protection Program loans totaling nearly $1 billion, supporting approximately 100,000 employees in the region. The WSFS Community Foundation has also previously provided $300,000 in grants to nonprofits battling COVID-19.
WSFS Bank, a subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), announced the promotion of Jim Wechsler to Senior Vice President and Chief Retail Lending Officer, effective immediately. Wechsler will oversee various lending sectors, including consumer and small business lending, replacing retiring Glenn Kocher. With over a decade at WSFS, Wechsler has played a pivotal role in acquisitions and strategic initiatives. WSFS Financial Corporation boasts $12.3 billion in assets and operates 116 offices across several states, providing comprehensive financial services since 1832.
WSFS Mortgage's regional study reveals that 56% of Delaware and Greater Philadelphia residents are interested in buying a home this summer and fall despite fears associated with the process. Conducted with 1,007 respondents, the study highlights that while 83% feel confident about mortgage acquisition, anxiety persists, particularly among young Millennials and Gen Z, with 86% experiencing some level of stress. The impact of COVID-19 has shifted buyer confidence as 64% reported changes to their homebuying plans. Notably, personalized service is preferred over online platforms, with 85% wanting a personal guide through the mortgage process.
The WSFS Mortgage Regional Study reveals that 56% of Delaware and Greater Philadelphia residents are interested in buying a home this summer and fall despite anxiety regarding the process. Conducted with 1,007 participants, the study highlights that 83% feel knowledgeable about mortgages, yet 86% express anxiety, particularly about finding the right home and financing. COVID-19 has impacted 64% of respondents' plans, but 75% cite low interest rates as a driving factor for purchases. The preference for personalized services over online options is noted, especially among younger generations.
WSFS Bank has been recognized on Forbes’ World’s Best Banks list, ranking 21st in the U.S. This marks the first time WSFS has made this global list. The ranking is based on a survey of over 40,000 banking customers regarding their satisfaction with banks, including attributes like trust, fees, and digital services. WSFS Bank has a robust presence in the Greater Philadelphia and Delaware region, boasting $12.3 billion in assets and $21.1 billion in assets under management as of March 31, 2020. The Bank continues to emphasize its commitment to local customer service.
WSFS Financial Corporation will participate in the Boenning & Scattergood Virtual Community Bank Conference on June 10, 2020. The event features Rodger Levenson, Chairman and CEO, presenting at 2:00 p.m. EDT, followed by a Q&A session with key executives. WSFS will showcase its 1Q 2020 Investor Presentation, available on its website. As of March 31, 2020, WSFS had $12.3 billion in assets and $21.1 billion under management. Operating from 116 offices, WSFS Bank provides various financial services, serving the Delaware Valley since 1832.
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