WSFS Announces First Quarter Call of $30 Million Legacy Bryn Mawr Trust Subordinated Debt

WSFS Financial

WILMINGTON, DE — WSFS Financial Corporation (NASDAQ: WSFS), the parent company of WSFS Bank, announced that on February 15, 2023, it will call the $30 million of fixed-to-floating rate subordinated notes due 2025 (the 2025 Notes) acquired from Bryn Mawr Trust. The 2025 Notes will be repaid using operating cash flows of the Company.

“We are pleased to announce our planned payoff of the 2025 Notes during the first quarter of 2023,” said Dominic C. Canuso, WSFS’ Executive Vice President and Chief Financial Officer. “Our strong capital and liquidity levels position us well to pay off higher funding costs. This payoff is consistent with our balance sheet strategy resulting from our successful combination and integration with Bryn Mawr Trust earlier this year.”

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