PHILADELPHIA, Dec. 06, 2018 (GLOBE NEWSWIRE) -- Beneficial Bancorp, Inc. (Nasdaq: BNCL) announced today that its stockholders approved the previously announced merger of Beneficial with and into WSFS Financial Corporation (Nasdaq: WSFS) at a special meeting of stockholders held today. Subject to the receipt of all required regulatory approvals and the satisfaction of customary closing conditions, the parties expect to close the merger in the first quarter of 2019.

About Beneficial Bancorp Inc.

Beneficial is a community-based, diversified financial services company providing consumer and commercial banking services. Its principal subsidiary, Beneficial Bank, has served individuals and businesses in the Delaware Valley area since 1853. As of September 30, 2018, Beneficial Bancorp has $5.87 billion in assets on its balance sheet. Beneficial Bank is the oldest and largest bank headquartered in Philadelphia, Pennsylvania, with 61 banking offices in the greater Philadelphia and South New Jersey regions. Equipment leasing services are offered through Beneficial Equipment Leasing Corporation, which is a wholly owned subsidiary of the Bank, and Neumann Finance Company, which is a majority owned subsidiary of the Bank. For more information about Beneficial and Beneficial Bank, please visit www.thebeneficial.com.