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-WSFS Financial prices USD55m of senior notes.

BANKING AND CREDIT NEWS-August 22, 2012--WSFS Financial prices USD55m of senior notes(C)2012 M2 COMMUNICATIONS http://www.m2.com

22 August 2012 - WSFS Financial Corp. (NASDAQ: WSFS) said it has priced

an offering of USD55.0m aggregate principal amount of 6.25% senior notes due September 1, 2019, at a price equal to 100% of the aggregate principal amount of the senior notes.

Sandler O'Neill + Partners, L.P. acted as sole book-running manager for the offering and Keefe, Bruyette & Woods, Inc. acted as co-lead manager. Boenning & Scattergood, Inc. and Janney Montgomery Scott acted as co-managers.

After the underwriting discount and estimated offering expenses payable by the company, it expects to receive net proceeds of approximately USD52.7m. The offering is expected to close on August 27, 2012.

The company expects to use the net proceeds for general corporate purposes, including to support anticipated balance sheet growth, which may include loan originations and securities purchases. Subject to receipt of the requisite regulatory approvals, the proceeds may be used to repurchase or redeem all or a portion of its series A preferred stock.

WSFS Financial Corp. 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 USD4.2 billion in assets on its balance sheet and USD13.3 billion in fiduciary assets, including approximately USD1.0 billion in assets under management. The company's website is at www.wsfsbank.com.

USD 1 = 0.63361 GBP

((Comments on this story may be sent to info@m2.com)).END.PUB430>PDAugust 22, 2012>JNBANKING AND CREDIT NEWS.PRICEDATENOT APPLICABLE.DAY

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Publication:M2 Banking & Credit News (BCN)
Date:Aug 22, 2012
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