updated 12/20/2010 11:16:28 AM ET 2010-12-20T16:16:28

WILMINGTON, Del., Dec. 20, 2010 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (Nasdaq:WSFS), the parent company of WSFS Bank, today announced the hire of Dennis B. Matarangas, Ralph J. Cicalese, and Bruce W. Shively. Mr. Matarangas and Mr. Cicalese serve as Senior Vice Presidents and Team Leaders; and Mr. Shively is Vice President and Relationship Manger. All three gentlemen serve the Commercial and Industrial market in Chester, Delaware, and Western Montgomery Counties in Pennsylvania.

Dennis B. Matarangas, WSFS Senior Vice President, Commercial Banking




Ralph J. Cicalese, WSFS Senior Vice President, Commercial Banking




Bruce W. Shively, WSFS Vice President, Commercial Banking




Photos accompanying this release are available at:

http://www.globenewswire.com/newsroom/prs/?pkgid=8499

http://www.globenewswire.com/newsroom/prs/?pkgid=8500

http://www.globenewswire.com/newsroom/prs/?pkgid=8501 .

Mr. Matarangas was previously at First Niagara Bank (acquired Harleysville National Bank) as Team Leader and Senior Relationship Manager in the Commercial Banking Group. He comes to WSFS with more than 30 years of financial industry and commercial lending experience in the Pennsylvania market. Mr. Matarangas graduated with a Bachelor of Science in Business Administration from Rider University and a Master of Business Administration from Drexel University. He resides in Doylestown, Pennsylvania.

Mr. Cicalese joins WSFS with over 25 years of commercial lending experience. Prior to joining the WSFS team, he worked as Senior Vice President, Regional Manager and Credit Products Manager of Commercial Enterprise Banking at Citizens Bank. Mr. Cicalese holds a Bachelor of Science from Widener University and serves as Vice Chairman of the Delaware County Chamber of Commerce, Treasurer of the Community YMCA of Eastern Delaware County Foundation and serves on the board of Swarthmorewood Athletic Association. Mr. Cicalese is a resident of Swarthmore, Pennsylvania.

Mr. Shively has over 25 years of commercial lending experience, successfully serving the Pennsylvania market. Prior to joining WSFS he worked for First Niagara Bank (acquired Harleysville National Bank) as First Vice President of Business Banking and Commercial Lending. Mr. Shively holds a Bachelor of Science from Philadelphia College of Textiles and Science. He is a resident of Oreland, Pennsylvania.

"Dennis, Ralph, and Bruce will greatly help to build WSFS market share in the Pennsylvania market by providing high-touch responsiveness and service to the commercial and industrial market," said William M. Byrne, Senior Vice President of Commercial Banking.

They are located in the new WSFS office at 400 E. Market Street, West Chester, Pennsylvania.

WSFS currently has five offices in Pennsylvania including West Chester, Glen Mills, Longwood, Oxford and Blue Bell, and an office coming soon in Edgmont. Of the 350 WSFS ATMs, more than 30 are located in Pennsylvania providing greater convenience and access for WSFS customers.

About WSFS Financial Corporation

WSFS Financial Corporation is a $3.8 billion financial services company. Its primary subsidiary, Wilmington Savings Fund Society, FSB (WSFS Bank), is Delaware's oldest, locally-managed bank and trust company headquartered in Delaware and has $7 billion in assets under management or administration. WSFS operates 42 banking offices located in Delaware (35), Pennsylvania (5), Virginia (1) and Nevada (1), and provides comprehensive financial services including commercial banking, retail banking and wealth management through its Christiana Trust division. Other subsidiaries or divisions include WSFS Investment Group, Inc., Cypress Capital Management, LLC and Cash Connect, a leading provider of ATM vault cash in North America. Serving the Delaware Valley since 1832, WSFS 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.

The photos are also available via AP PhotoExpress.

CONTACT:  WSFS Financial Corporation
          Stephanie A. Heist
          (302) 571-5259
          sheist@wsfsbank.com

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