Press Release: Beneficial Bank : WSFS Bank Receives Key Regulatory Approval to Acquire Beneficial Bank

WILMINGTON, Del., Feb. 13, 2019 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (Nasdaq: WSFS) (“WSFS”) announced that its primary subsidiary, WSFS Bank, received approval from the Office of the Comptroller of the Currency (OCC) to merge Beneficial Bank, the primary subsidiary of Beneficial Bancorp, Inc. (Nasdaq: BNCL) (“Beneficial”), into WSFS Bank. Subject to the timely receipt of remaining regulatory approvals, WSFS and Beneficial expect to close the mergers of Beneficial and Beneficial Bank into WSFS and WSFS Bank, respectively, on Friday, March 1, 2019. Following the closing of the mergers, WSFS will have approximately $13 billion in assets and will become the largest, longest-standing, locally-headquartered community bank for the Greater Delaware Valley.