WSFS Bank Agrees to Buy Bryn Mawr Bank Corp.

WILMINGTON DE – Delaware-based WSFS Financial Corp., which operates a branch office in Oaks, has agreed to buy long-time Main Line banker Bryn Mawr Bank Corp., which operates in Limerick and Phoenixville, in a $976.4 million merger, the Philadelphia Business Journal said Wednesday (March 10, 2021).

Staff reporter Jeff Blumenthal wrote the deal brings “together two of the region’s oldest and most storied banks.”

It also expands WSFS’ presence in southeastern Pennsylvania. Due to a 2019 purchase of Beneficial Bancorp, at a cost of $1.2 billion, WSFS remains the largest bank based in the Philadelphia region. WSFS said it expects the deal to close early in the fourth quarter, Blumenthal wrote, giving it nearly $20 billion in assets and $43 billion in assets under management as of Dec. 31.

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