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Beneficial Bancorp Stockholders OK Merger with WSFS Financial

December 07, 2018, 07:15 AM
Filed Under: Mergers & Acquisitions

Beneficial Bancorp, Inc. announced its stockholders approved the previously announced merger of Beneficial with and into WSFS Financial Corporation at a special meeting of stockholders. Subject to the receipt of all required regulatory approvals and the satisfaction of customary closing conditions, the parties expect to close the merger in the first quarter of 2019.

WSFS Financial and Beneficial Bancorp jointly announced in August the signing of a definitive agreement whereby WSFS will combine with Beneficial, in a transaction valued at approximately $1.5 billion.
Beneficial offers equipment leasing services through Beneficial Equipment Leasing Corporation, which is a wholly owned subsidiary of Beneficial Bank.

Beneficial Bank this week announced Beneficial Equipment Finance Corporation has launched an electronic documentation platform via an integrated Digital Transaction Management Solution from DocuSign, to improve communications and speed up funding to equipment finance partners.


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