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WSFS Financial Corporation Announces Results of Annual Meeting, Shareholders Approve All Proposals and Re-Elect All Nominated Directors to Board

WILMINGTON, Del., May 4, 2015 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (Nasdaq:WSFS), the parent company for WSFS Bank, today announced that stockholders approved all proposals and re-elected all director nominees at its 2015 Annual Meeting held April 30, 2015 in Wilmington, Delaware.

Stockholders approved the following proposals:

  • The election of Anat Bird, Jennifer W. Davis and Donald W. Delson, each for a term ending at the 2018 Annual Meeting of Stockholders;
  • The Amendment of the Company's Amended and Restated Certificate of Incorporation to increase the number of authorized shares of the Company's common stock from 20,000,000 to 65,000,000;
  • The ratification of the appointment of KPMG LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2015; and
  • An advisory (or non-binding) vote on the compensation of our named executive officers.

As previously announced, the Board of Directors declared a three-for-one split in WSFS Financial Corporation common stock (WSFS Stock) in the form of a stock dividend of two shares of WSFS Stock for each issued and outstanding share of WSFS common stock.

The stock dividend is payable to stockholders of record as of May 4, 2015. As a result of the stock split, the total number of shares of common stock outstanding will increase from approximately 9.4 million to approximately 28.2 million. The additional shares of WSFS Stock are expected to be distributed on or about May 18, 2015 by WSFS Financial Corporation's transfer agent.

About WSFS Financial Corporation

WSFS Financial Corporation is a multi-billion dollar financial services company. Its primary subsidiary, WSFS Bank, is the largest and oldest bank and trust company headquartered in the Delaware Valley with $4.9 billion in assets on its balance sheet and $9.4 billion in fiduciary assets, including over $1 billion in assets under management. WSFS operates from 56 offices located in Delaware (45), Pennsylvania (9), 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, Cash Connect®, Array Financial and Arrow Land Transfer. 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 wsfsbank.com.

CONTACT: Investor Relations Contact: Rodger Levenson (302) 571-7296 or rlevenson@wsfsbank.com Media Contact: Cortney Klein (302) 571-5253 or cklein@wsfsbank.com

Source:WSFS Financial Corporation