Kilpatrick Townsend


Insights: News Deal Announcement: WSFS Financial Corporation Announces Combination with Beneficial Bancorp, Inc. WSFS Financial Corporation August 8, 2018 WSFS Financial Corporation (NASDAQ: WSFS) and Beneficial Bancorp, Inc. (NASDAQ: BNCL), have jointly announced the signing of a definitive agreement whereby WSFS Financial Corporation (“WSFS”) will combine with Beneficial Bancorp, Inc. (“Beneficial”), in a transaction valued at approximately $1.5 billion. Concurrently with the acquisition, Beneficial Bank, the wholly owned subsidiary of Beneficial, will merge into WSFS Bank, a wholly owned subsidiary of WSFS, creating the largest, premier, locally-headquartered community bank for the Greater Delaware Valley with the sixth-largest deposit market share. Kilpatrick Townsend represented Beneficial in this transaction. Related People Gary R. Bronstein Washington, DC t 202.508.5893 gbronstein@ktslaw.com Lois Wagman Colbert Washington, DC t 202.508.5809 lcolbert@ktslaw.com Stephen F. Donahoe Washington, DC t 202.508.5818 sdonahoe@ktslaw.com Suzanne A. Walker Washington, DC t 202.508.5856 suwalker@ktslaw.com

Insights: News

Deal Announcement: WSFS Financial Corporation Announces Combination with Beneficial Bancorp, Inc.

WSFS Financial Corporation

August 8, 2018

WSFS Financial Corporation (NASDAQ: WSFS) and Beneficial Bancorp, Inc. (NASDAQ: BNCL), have jointly announced the signing of a definitive agreement whereby WSFS Financial Corporation (“WSFS”) will combine with Beneficial Bancorp, Inc. (“Beneficial”), in a transaction valued at approximately $1.5 billion. Concurrently with the acquisition, Beneficial Bank, the wholly owned subsidiary of Beneficial, will merge into WSFS Bank, a wholly owned subsidiary of WSFS, creating the largest, premier, locally-headquartered community bank for the Greater Delaware Valley with the sixth-largest deposit market share. Kilpatrick Townsend represented Beneficial in this transaction.