WILMINGTON, Del., Aug. 20, 2019 (GLOBE NEWSWIRE) -- Kroll Bond Rating Agency (KBRA) has reaffirmed the senior debt rating of A- for WSFS Financial Corporation (NASDAQ: WSFS) (“WSFS” or “the Company”). KBRA also reaffirmed WSFS’ subordinated debt rating of BBB+ and a short-term debt rating of K2. WSFS Bank, the Company’s main subsidiary, received strong credit ratings as well, including A ratings for senior unsecured debt and deposit, a subordinated debt rating of A-, and the short-term debt and deposit ratings of K1. KBRA’s debt ratings for WSFS can be accessed here: https://www.krollbondratings.com/announcements/14062.
“This fourth consecutive high debt rating reflects the continued success of our disciplined model, melding community banking serving the Greater Delaware Valley with diversified local and national fee-based financial solutions that create deeper relationships with our Customers,” said WSFS’ Executive Vice President and Chief Financial Officer Dominic C. Canuso. “This rating also reaffirms our ability to attract and retain the best and most talented Associates in the marketplace who have an aptitude for high performance, serving our Customers, and executing on our strategic plan.”
KBRA also noted opportunities for long-term high performance resulting from WSFS’ combination with Beneficial Bank and the Company’s successful track record in mergers and acquisitions.
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 and the Delaware Valley. As of June 30, 2019, WSFS Financial Corporation had $12.2 billion in assets on its balance sheet and $19.7 billion in assets under management and administration. WSFS operates from 147 offices located in Pennsylvania (72), Delaware (49), New Jersey (24), Virginia (1) and Nevada (1) and provides comprehensive financial services including commercial banking, retail banking, cash management and trust and wealth management. Other subsidiaries or divisions include Arrow Land Transfer, Beneficial Equipment Finance Corporation, Cash Connect®, Cypress Capital Management, LLC, NewLane Finance, Powdermill Financial Solutions, WSFS Institutional Services, WSFS Wealth Investments, West Capital Management, and WSFS Mortgage. Serving the greater Delaware Valley since 1832, WSFS Bank is one of the ten oldest banks in the United States continuously operating under the same name. For more information, please visit www.wsfsbank.com.
Investor Relations Contact:Dominic C. Canuso
Media Contact:Jimmy A. Hernandez
Source: WSFS Financial Corporation