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Wsfs bank

The meaning of «wsfs bank»

WSFS Financial Corporation is a financial services company. Its primary subsidiary, WSFS Bank, a federal savings bank, is the largest and longest-standing locally managed bank and trust company headquartered in Delaware and the Greater Delaware Valley. WSFS operates from 112 offices, 89 of which are banking offices, located in Pennsylvania (52), Delaware (42), 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.[2]

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.[3]

Wilmington Savings Fund Society was chartered as a Delaware thrift in 1832 by a group of Wilmington community leaders and businessmen. The bank was formed for the working citizens of Wilmington to encourage thrift, to safeguard and increase their savings in a community bank. The bank's first day of business was February 18, 1832, in a rented room "one door below" Town Hall on Market Street. The bank grew steadily through the 19th century, and moved locations twice more before constructing their own building at 838 N. Market Street in 1895.[citation needed] The building stood until 1929,[citation needed] when the current building was constructed and opened for business. Three years later the building would receive its landmark mural, Apotheosis of the Family by N. C. Wyeth. The mural, 60'x19', was commissioned by Frederick Stone to celebrate the bank's 100th anniversary, and a smaller version of this mural still hangs in the bank's current headquarters at 500 Delaware Avenue in Wilmington.[citation needed]

WSFS' growth continued in the 1950s and 60s, and was the first bank in the United States to issue debit cards in the late 1960s. By the 1980s, WSFS had expanded from northern New Castle County into Kent and Sussex counties, and went public in 1986 on the NASDAQ market. By the early 1990s the bank was in poor financial shape, and was near bankruptcy. The Board of Directors hired Marvin "Skip" Schoenhals in 1990, and began a dramatic turnaround. Nearly all of the lower Delaware branches were sold to Wilmington Trust, and lending practices and credit quality were administered more closely.[citation needed]

Over time, the bank gradually strengthened and was reintroduced to Kent County and Sussex County. In 1995, WSFS Bank opened its first branch in Kent County since the 1991 closings in the Dover Metro Supermarket. The first new branch in Sussex County since the closings opened in Rehoboth Beach in July 2003 and moved to its current location in June 2004. New branch locations have since opened in Camden, Canterbury, Harrington, Lewes, Long Neck, Milford, Millsboro, Ocean View, Seaford, Selbyville, Smyrna, West Dover and Wyoming.

WSFS Bank has the largest ATM network in Delaware and one of the largest branded ATM networks in the Greater Delaware Valley.[4] The bank has ATMs located in all Delaware Walgreens pharmacies. Fee free ATMs are also located in most Grotto Pizza locations, Walmart stores, Buffalo Wild Wings, and Food Lion locations. There are over 600 WSFS-branded ATMs in Delaware, Maryland, Pennsylvania and New Jersey.

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