WSFS Bank Receives OCC Approval to Merge with BMTC
26 Juillet 2021 - 2:31PM
WSFS Financial Corporation (Nasdaq: WSFS), the parent company of
WSFS Bank, announced it received approval from the Office of the
Comptroller of the Currency (OCC) to merge with Bryn Mawr Bank
Corporation (NASDAQ: BMTC). Subject to the remaining regulatory
approvals and the satisfaction of other conditions, the parties
expect to close the merger in the fourth quarter of 2021. The
projected system conversion and Bank rebranding is scheduled to
occur in January 2022.
“We are pleased to receive this timely approval
of our merger application from the OCC,” said Rodger Levenson,
WSFS’ Chairman, President and CEO. “Our highly engaged teams at
Bryn Mawr and WSFS are working collaboratively designing and
implementing our integration plans and we look forward to a smooth
conversion for our Associates and Customers in the upcoming
months.”
About WSFS Financial
Corporation WSFS Financial Corporation is a
multi-billion-dollar financial services company. Its primary
subsidiary, WSFS Bank, is the oldest and largest locally managed
bank and trust company headquartered in Delaware and the Greater
Philadelphia region. As of June 30, 2021, WSFS Financial
Corporation had $15.1 billion in assets on its balance sheet and
$26.7 billion in assets under management and administration. WSFS
operates from 112 offices, 89 of which are banking offices, located
in Pennsylvania (52), Delaware (42), New Jersey (16), Virginia (1)
and Nevada (1) and provides comprehensive financial services
including commercial banking, retail banking, cash management and
trust and wealth management. Other subsidiaries or divisions
include Arrow Land Transfer, Cash Connect®, Cypress Capital
Management, LLC, Christiana Trust Company of Delaware®, NewLane
Finance®, Powdermill® Financial Solutions, West Capital
Management®, WSFS Institutional Services®, WSFS Mortgage®, and WSFS
Wealth® Investments. Serving the Greater Delaware Valley since
1832, WSFS Bank is one of the ten oldest banks in the United States
continuously operating under the same name. For more information,
please visit www.wsfsbank.com.
Investor Relations Contact: Dominic C. Canuso |
(302) 571-6833 |
dcanuso@wsfsbank.com |
|
Media Contact: Rebecca Acevedo |
(215) 253-5566 |
racevedo@wsfsbank.com |
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