Brief: WSFS Financial Corp To Combine With Bryn Mawr Bank Corp

WSFS Financial

10/03/2021 13:51

March 10 (Reuters) - WSFS Financial Corp  WSFS.O :
    * PRESS RELEASE - PHOTO RELEASE -- WSFS FINANCIAL
CORPORATION TO
COMBINE WITH BRYN MAWR BANK CORPORATION, SOLIDIFIES POSITION AS
THE PREMIER BANK AND WEALTH MANAGEMENT FRANCHISE IN THE GREATER
PHILADELPHIA AND DELAWARE REGION
    * WSFS FINANCIAL CORP - BRYN MAWR TO MERGE WITH WSFS
FINANCIAL
CORPORATION IN TRANSACTION VALUED AT ABOUT $976.4 MILLION
    * WSFS FINANCIAL CORP - UNDER TERMS, STOCKHOLDERS OF BRYN
MAWR TO
RECEIVE 0.90 OF A SHARE OF WSFS COMMON STOCK FOR EACH SHARE OF
BRYN MAWR COMMON STOCK
    * WSFS FINANCIAL CORP - WSFS EXPECTS PRE-TAX MERGER AND
RESTRUCTURING COSTS OF ABOUT $127 MILLION
    * WSFS FINANCIAL CORP - WSFS EXPECTS TO ACHIEVE ANNUAL COST
SYNERGIES OF ABOUT $73 MILLION, ONCE FULLY PHASED IN BY 2023
    * WSFS FINANCIAL CORP - MERGER EXPECTED TO BE ACCRETIVE TO
WSFS'
EARNINGS PER SHARE IN 2022, EXCLUDING ONE-TIME MERGER AND
RESTRUCTURING COSTS

Source text for Eikon:  ID:nGNX4xTq3T 
Further company coverage:  WSFS.O 

 ((Reuters.Briefs@thomsonreuters.com;))