WILMINGTON, Del., May 9, 2011 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (Nasdaq:WSFS), the parent company of WSFS Bank, today announced that it has expanded and extended its lease at the WSFS Bank Center located at 500 Delaware Avenue, Wilmington, Delaware for both its corporate headquarters and the branch located on the first floor of the same building through 2025. WSFS will lease an additional 9,000 square feet to now occupy almost 70,000 square feet of office space on floors 10, 11 and 12, plus over 4,000 square feet of retail space for the branch.
WSFS opened a flagship retail branch inside the WSFS Bank Center, owned and managed by The Buccini Pollin Group, in January 2007. At that time the WSFS Bank Center was Wilmington's first new multi-tenant office space in more than 15 years. In March 2007, WSFS moved its corporate headquarters to the same building in which it leased two and a half floors and included extra space for future expansion.
Over the past four years, WSFS has grown its franchise, even during these recent difficult economic times, including growing $1 billion in assets, adding 13 branches to its retail footprint, and acquiring a local bank and trust business. To support this continued growth, the number of WSFS Associates has also increased. In 2010, WSFS added 84 Associates to its workforce and plans to add an additional 80 in 2011.
In addition, Cash Connect, the ATM division of the Bank, relocated to new office space at 500 Creek View Road, Suite 100, Newark, DE 19711 at the end of April, 2011. Cash Connect was previously located on the second floor of the College Square Shopping Center bank branch and due to their expansion, had outgrown this space.
Cash Connect is a leading provider of ATM vault cash, armored carrier management and cash forecasting solutions in the ATM industry. Cash Connect funds over 11,000 ATMs in all 50 states and Puerto Rico with over $6.5 billion annually.
Earlier in April, WSFS opened a new branch in Milford, Delaware and relocated another branch to a stand-alone pad site in North Wilmington. Within the next several months, WSFS expects to open branches in Seaford, Delaware; Media, Pennsylvania; and Edgmont Township, Pennsylvania; as well as a Loan Production Office in Plymouth Meeting, Pennsylvania.
"We take our corporate citizenship very seriously and feel fortunate that our success and growth has allowed us to continue our support of the local economy through job creation and economic development," said Mark A. Turner, WSFS President and Chief Executive Officer.
About WSFS Financial Corporation
WSFS Financial Corporation is a multi-billion dollar financial services company. Its primary subsidiary, WSFS Bank, is the oldest, locally-managed bank and trust company headquartered in Delaware with $4.0 billion in assets on its balance sheet and $7.7 billion in trust assets under management and administration. WSFS has 44 offices located in Delaware (37), Pennsylvania (5), Virginia (1) and Nevada (1) and provides comprehensive financial services including commercial banking, retail banking and trust and wealth management. Other subsidiaries or divisions include Christiana Trust, WSFS Investment Group, Inc., Cypress Capital Management, LLC and Cash Connect. Serving the Delaware Valley since 1832, WSFS is the seventh oldest bank in the United States continuously operating under the same name. For more information, please visit .
Forward Looking Statements
Statements contained in this news release which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, which are based on various assumptions (some of which may be beyond the Company's control) are subject to risks and uncertainties and other factors which could cause actual results to differ materially from those currently anticipated. Such risks and uncertainties include, but are not limited to, those related to the economic environment, particularly in the market areas in which the Company operates; the volatility of the financial and securities markets, including changes with respect to the market value of its financial assets; changes in government regulation affecting financial institutions and potential expenses associated therewith; changes resulting from the Company's participation in the U.S. Treasury's Capital Purchase Program including additional conditions that may be imposed in the future on participating companies; the costs associated with resolving any problem loans; and other risks and uncertainties, discussed in documents filed by WSFS Financial Corporation with the Securities and Exchange Commission from time to time. The Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company.
CONTACT: Stephanie A. Heist (302) 571-5259 sheist@wsfsbank.com