Enhancing Access to Cash for WSFS Customers: WSFS Bank Installs 400th ATM
WILMINGTON, Del., July 20, 2011 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (Nasdaq:WSFS), the parent company of WSFS Bank, today announced that it has installed its 400th Automated Teller Machine (ATM). Located at WSFS' new branch in Media, Pennsylvania, the 400th ATM is a notable achievement for the Bank, which hosted only 11 ATMs in 1996 and now is Delaware's largest ATM provider. WSFS' comprehensive, well-located ATMs ensure Customers a convenient, safe access to their funds.
"Providing our Customers secure, surcharge-free ATMS in their neighborhoods is a vital aspect of our business model and commitment to world-class Customer service," said Mark A. Turner, WSFS President and Chief Executive Officer. "We have had tremendous growth in our ATM network over the past 15 years, which is a testament to our Cash ConnectÒ Division and its focus on providing strategic and robust ATM solutions."
Beginning in 1997, WSFS Bank began placing ATMs in non-branch locations and expanded its coverage throughout Southeastern Pennsylvania and Delaware. Today, WSFS ATMs can be found in Walgreens, Food Lions, Buffalo Wild Wings, Grottos Pizza, and numerous other locations in and around the region. In addition, WSFS has established themselves as a national leader in the ATM industry by supplying cash to non-bank ATM companies. Today, Cash Connect® supplies over 11,000 ATMs nationwide with cash and in 2010 was awarded with the ATM Industry's prestigious Award for Excellence.
"Specializing in the ATM niche has been very successful for both our Customers and shareholders," said Tom Stevenson, President of Cash Connect®. "Cash Connect's® continued growth will offer our Customers greater convenience and uncompromised service."
Founded in 2000, WSFS Bank's Cash Connect® Division is a meaningful segment of the Bank's revenue and has recently moved to larger office space in Newark, Delaware to accommodate their more than 50 full-time Associates.
About WSFS Financial Corporation
WSFS Financial Corporation is a multi-billion dollar financial services company. Its primary subsidiary, WSFS Bank, is the oldest and largest 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 47 offices located in Delaware (38), Pennsylvania (7), 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 www.wsfsbank.com.
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 CPP 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.
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