Investment Banking - WSFS Financial Corporation

Transactions | Banking

Client: WSFS Financial Corporation
Industry: Banking
Transaction Type: Senior Notes Offering
Role: Co-Manager

  • WSFS Financial Corporation’s primary subsidiary, WSFS Bank, is the oldest, locally-managed bank and trust company headquartered in Delaware with $4.2 billion in assets on its balance sheet and $13.3 billion in fiduciary assets, including approximately $1.0 billion in assets under management. WSFS operates from 52 offices located in Delaware (42), Pennsylvania (8), Virginia (1) and Nevada (1) and provides comprehensive financial services including commercial banking, retail banking and trust and wealth management.
  • WSFS intends to use the net proceeds for general corporate purposes including to support anticipated balance sheet growth as well as to redeem all or a portion of the 52,625 shares of our Series A Preferred Stock which the company had issued under the U.S. Treasury’s Capital Purchase Program.
  • The seven year notes were priced at 6.25%, were callable after the first five years without penalty and were listed on the NASDAQ Global Select Market.
  • The Company generated gross proceeds of about $55 million from the offering.
  • The Firm acted as a co-manager in connection with the offering.