WSFS Celebrates the Opening of Midway Regional Headquarters & Branch
WILMINGTON — WSFS Financial Corporation (NASDAQ: WSFS), the parent company of WSFS Bank, today marked the official opening of a new regional headquarters and banking office at Midway Shopping Center (4601 Kirkwood Highway) in Wilmington, Del. Governor Jack A. Markell, Delaware Economic Development Office Secretary Alan B. Levin, Delaware Department of Natural Resources & Environmental Control Secretary Collin P. O’Mara, Representative Michael J. Ramone, Representative Nick T. Manolakos, New Castle County Executive Paul G. Clark, as well as other special guests, joined WSFS Associates for the official ribbon cutting ceremony.
Said Mark A. Turner, WSFS President and CEO, “Midway marks our 40th branch and 51st office, and as the 7th oldest bank in the United States, it comes during our 180th year in business. We take very seriously our role as a community bank and our mission to serve and strengthen our communities. We are honored to serve as Delaware’s oldest, largest, full-service, full-state community bank.”
Conveniently located at the corner of Limestone Road (Route 7) and Kirkwood Highway (Route 2), one of the most highly traveled intersections in Delaware carrying over 40,000 cars daily, the Midway Regional Headquarters & Branch site was once an idle brownfield. Diamond State Management of Wilmington purchased the property in 2010, and along with environmental engineering company, Duffield Associates, secured a grant through Delaware’s FY’12 Bond Bill to remediate the property. The cleanup was completed in the fall of 2011 and construction of the new WSFS regional headquarters began in January 2012 by the EDiS Company. WSFS owns the building and leases the site from Diamond State Management.
“WSFS’s new regional headquarters is a prime example of how investing in brownfield cleanup and redevelopment is strengthening our economy and environment,” said Governor Jack Markell. “Making a project like this happen requires collaboration among many partners but when it’s done, the community benefits significantly. The state and private investments made here are providing jobs, economic growth, and a safer and healthier revitalized property.”
“The company’s decision to continue to invest in Delaware is a testament to its commitment to the state and its citizens,” said Alan Levin, director of the Delaware Economic Development Office. “WSFS Bank is in Delaware for Delaware. It’s that simple. We didn’t have to offer an incentive to convince the company to expand here. It’s a locally-managed, community bank that truly appreciates the quality, professional workforce and business relationships it has in our state.”
“This project demonstrates that environmental stewardship and economic development can and should go hand-in-hand,” said Delaware Department of Natural Resources and Environmental Control Secretary Collin P. O’Mara. “It is very gratifying for me to see this property that was once a vacant and contaminated brownfield become the location for a thriving business. I congratulate all the partners involved and wish WSFS continued success.”
The two-story Midway Regional Headquarters & Branch will serve as a hub for WSFS retail management, small business and investment experts. The full-service branch offers Customers a night depository and safe deposit boxes as well as several drive-up teller lanes and a full-service, drive-up ATM. WSFS Bank has over 400 ATMs located throughout the region and has the largest ATM network in the state of Delaware. The Midway Regional Headquarters & Branch will provide another convenient location for Customers in New Castle County as well as complement the services offered at WSFS Bank’s other area branches including Stanton, Prices Corner, Pike Creek and Hockessin as well as the new Lantana branch (6274 Limestone Road) in Hockessin, Del., which officially opens on June 22 with another ribbon cutting ceremony.
Grand opening celebrations for the Midway and Lantana are being held on Saturday, June 23 from 11 a.m. to 3 p.m. Open to the public, the grand opening celebrations will feature boardwalk-themed music, food, games and prizes.
Sharing in the ribbon cutting ceremony are (left to right). Rick Wright, WSFS Bank Executive Vice President of Retail Banking and Marketing; Representative Nick T. Manolakos; Governor Jack A. Markell; Secretary Alan B. Levin, Delaware Economic Development Office; Representative Michael J. Ramone; Mark A. Turner, WSFS Bank President and CEO; and Secretary Collin P. O’Mara, Delaware Department of Natural Resources and Environmental Control. Not pictured, New Castle County Executive Paul G. Clark.
About WSFS Financial Corporation
WSFS Financial Corporation 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 $4.3 billion in assets on its balance sheet and $11.8 billion in fiduciary assets, including approximately $1.0 billion in assets under management. WSFS operates from 51 offices located in Delaware (41), Pennsylvania (8), 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.
This press release contains estimates, predictions, opinions, projections and other statements that may be interpreted as “forward-looking statements” as that phrase is defined in the Private Securities Litigation Reform Act of 1995. Such statements include, without limitation, references to our financial goals, management’s plans and objectives for future operations, financial and business trends, business prospects, and management’s outlook or expectations for earnings, revenues, expenses, capital levels, liquidity levels, asset quality or other future financial or business performance, strategies or expectations. Such forward-looking statements are based on various assumptions (some of which may be beyond the Company’s control) and are subject to risks and uncertainties (which change over time) 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, the results of the Company’s proposed bulk sale and investment securities transactions, 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 financial assets; changes in market interest rates, changes in government regulation affecting financial institutions, including the Dodd-Frank Wall Street Reform and Consumer Protection Act and the rules being issued in accordance with this statute and potential expenses associated therewith; 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. Forward looking statements are as of the date they are made, and the Company does not undertake to update any forward-looking