WSFS Wins the City of Rehoboth Beach Banking Business

/ Source: GlobeNewswire

WILMINGTON, Del., April 12, 2011 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (Nasdaq:WSFS), the parent company of WSFS Bank, today announced that the City of Rehoboth Beach has switched its full banking relationship to WSFS to provide commercial deposit and lending services, online banking, and cash management including coin and currency, ACH and remote deposit capture. Additionally, WSFS is offering all City employees preferred banking benefits as part of this new relationship.

"We are humbled by the opportunity to offer Rehoboth Beach, one of the oldest cities in Delaware, a full-service banking relationship," said Mark A. Turner, President and CEO of WSFS Bank. "Rehoboth's commitment to grow and preserve its historic legacy parallels the Bank's mission of strengthening the communities we serve which is why this partnership is especially meaningful to us." 

Said the City of Rehoboth Beach Mayor Samuel R. Cooper, "We are looking forward to partnering with Delaware's oldest community bank that not only understands our complex financial needs, but has local management and decision makers that can help us as we continue to serve the people of Rehoboth Beach."

WSFS continues to deepen its commitment to the residents and communities in Kent and Sussex counties with the opening of banking offices in Milford and Seaford expected later this spring, bringing the number of offices in Southern Delaware to 14 locations. WSFS Customers across the region also have access to the largest ATM network in Delaware.

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 $7.5 billion in trust assets under administration. WSFS has 42 offices located in Delaware (35), 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; and 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: Media Contact: Stephanie Heist (302) 571-5259