Delta Air Lines President Glen Hauenstein to Retire, Leaving Legacy of Premium Strategy 
Google and Apple Warn U.S. Visa Holders to Avoid International Travel Amid Lengthy Embassy Delays 
JPMorgan’s Top Large-Cap Pharma Stocks to Watch in 2026 
Toyota to Sell U.S.-Made Camry, Highlander, and Tundra in Japan From 2026 to Ease Trade Tensions 
Trump Signals Push for Lower Health Insurance Prices as ACA Premium Concerns Grow 
Uber and Baidu Partner to Test Robotaxis in the UK, Marking a New Milestone for Autonomous Ride-Hailing 
Elon Musk Wins Reinstatement of Historic Tesla Pay Package After Delaware Supreme Court Ruling 
Nike Shares Slide as Margins Fall Again Amid China Slump and Costly Turnaround 
Apple Opens iPhone to Alternative App Stores in Japan Under New Competition Law 
Maersk Vessel Successfully Transits Red Sea After Nearly Two Years Amid Ongoing Security Concerns 
Niigata Set to Approve Restart of Japan’s Largest Nuclear Power Plant in Major Energy Shift 
TikTok U.S. Deal Advances as ByteDance Signs Binding Joint Venture Agreement 
7-Eleven CEO Joe DePinto to Retire After Two Decades at the Helm 
FDA Fast-Tracks Approval of Altria’s on! PLUS Nicotine Pouches Under New Pilot Program 
Roche CEO Warns US Drug Price Deals Could Raise Costs of New Medicines in Switzerland 
FedEx Beats Q2 Earnings Expectations, Raises Full-Year Outlook Despite Stock Dip 
Citi Appoints Ryan Ellis as Head of Markets Sales for Australia and New Zealand 
WILMINGTON, Del., Sept. 01, 2017 -- WSFS Financial Corporation (NASDAQ:WSFS), the parent company of WSFS Bank, today announced that it has called $55.0 million of senior debt with a coupon rate of 6.25%. The debt was repaid using a portion of the proceeds from the June 2016 public offering of $100 million of 4.50% fixed-to-floating rate senior notes due 2026.
“We are pleased to announce the execution of our planned payoff of senior debt,” said Dominic C. Canuso, Executive Vice President and Chief Financial Officer. “Lowering our overall senior debt costs will result in improved Net Interest Margin and gives us more confidence that we are on a solid path to achieve our Strategic Plan return on asset goal of 1.30% by Q4 2018 (core and sustainable).”
As part of the transaction, WSFS will take a $700,000 non-cash write-off of unamortized debt issuance costs in Q3 2017.
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, 2017, WSFS Financial Corporation had $6.82 billion in assets on its balance sheet and $17.40 billion in assets under management and administration. WSFS operates from 76 offices located in Delaware (45), Pennsylvania (29), 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 Christiana Trust, WSFS Wealth Investments, Cypress Capital Management, LLC, West Capital Management, Powdermill Financial Solutions, Cash Connect®, WSFS Mortgage and Arrow Land Transfer. Serving the 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 wsfsbank.com.
Investor Relations Contact: Dominic Canuso (302) 571-6833 [email protected] Media Contact: Cortney Klein (302) 571-5253 [email protected]
