WSFS Bank Adds Experienced Commercial Banking Team in Philadelphia

Rhea-AI Summary

WSFS Bank, a subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), announced the expansion of its Commercial Banking team in the Greater Philadelphia area. This strategic move involves the addition of experienced bankers, including Patrick Fisher, who will lead the team. With over 40 years of combined experience in the banking sector, the new team members aim to enhance WSFS's market presence and support local businesses. As of September 30, 2020, WSFS Financial Corporation reported $13.8 billion in assets and $23.1 billion in assets under management.

Positive

• Expansion of Commercial Banking team enhances market presence.
• New team members bring over 40 years of combined experience.
• Strategic commitment to growth in the Philadelphia market.

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• None.

WILMINGTON, Del., Oct. 29, 2020 (GLOBE NEWSWIRE) -- WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), today announced the expansion of its Commercial Banking team in the Greater Philadelphia area as part of its strategic plan to invest in talent and build long term value. The team joining WSFS Bank is Kevin J. Beaford, Jr., Patrick Fisher, Graham R. Palusky, and Brian Quach. Fisher will lead the group, which brings more than 40 years of combined experience to WSFS. He will report directly to Steve Clark, Executive Vice President, Chief Commercial Banking Officer.

“We are committed to the continued growth of the Philadelphia market and we know the critical role banks play in helping businesses fuel that expansion,” said Clark. “Over the past few months, we have added several key Associates to the Commercial team. We are taking a deliberate and measured approach to bring a diverse and well-rounded skillset to the Bank through local bankers with deep knowledge of the market.”

“We are thrilled to be joining WSFS and are eager to get to work to continue to grow the Bank’s market share and assist Customers,” said Fisher. “We have deep roots in the Philadelphia region and are thrilled to partner that experience and commitment with WSFS’ diverse offerings and unwavering dedication to service and the local market.”

Fisher joins WSFS with more than 20 years of commercial banking experience, including 10 years in a leadership role, building, coaching and leading successful client portfolio teams, generating annual loan growth and revenue increases. Most recently, he served as Senior Vice President, Commercial Banking Leader at Wells Fargo, where he led a team of 13 bankers and support staff managing a portfolio of loans, treasury services and deposits for Customers in the Greater Philadelphia and Delaware region. He is a veteran of the United States Marine Corps, where he served as an intelligence analyst. He received his B.S. from the Rutgers University School of Business.

Beaford has three-plus years of experience as a relationship manager and credit analyst. Prior to joining WSFS, he was Vice President, Relationship Manager at Wells Fargo. He received his B.S. in Economics from the Wharton School of Business at the University of Pennsylvania.

Palusky brings a decade of experience as a business relationship manager and credit analyst to WSFS. He most recently served as Vice President, Principal Business Relationship Manager at Wells Fargo, where he received the Wells Fargo Pinnacle Award, a national recognition for achieving the highest level of performance, and was appointed to the Bank’s National Real Estate Advisory Committee as a representative for the Greater Philadelphia Market. He received his B.S. in Management from Pennsylvania State University.

Quach has more than a decade of experience as a credit and financial services analyst. Prior to joining WSFS, he was a Vice President, Credit Analyst III at Wells Fargo. He received his B.S. in Business Management and Marketing from Pennsylvania State University.

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 greater Philadelphia region. As of September 30, 2020, WSFS Financial Corporation had $13.8 billion in assets on its balance sheet and $23.1 billion in assets under management and administration. WSFS operates from 115 offices, 90 of which are banking offices, located in Pennsylvania (54), Delaware (43), New Jersey (16), 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 Arrow Land Transfer, Cash Connect®, Cypress Capital Management, LLC, Christiana Trust Company of Delaware, NewLane Finance, Powdermill Financial Solutions, West Capital Management, WSFS Institutional Services®, WSFS Mortgage, and WSFS Wealth Investments. Serving the greater 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 www.wsfsbank.com.

Media Contact: Kyle Babcock
215-864-1795
kbabcock@wsfsbank.com 

FAQ

What is the recent announcement from WSFS Bank?

WSFS Bank announced the expansion of its Commercial Banking team in the Greater Philadelphia area.

Who leads the new Commercial Banking team at WSFS Bank?

Patrick Fisher will lead the new Commercial Banking team at WSFS Bank.

What experience do the new team members bring to WSFS Bank?

The new team members bring over 40 years of combined banking experience.

How many assets did WSFS Financial Corporation report as of September 30, 2020?

As of September 30, 2020, WSFS Financial Corporation reported $13.8 billion in assets.

What is the strategic goal behind expanding the Commercial Banking team?

The goal is to invest in talent and build long-term value in the Philadelphia market.