WILMINGTON, Del., Aug. 25, 2008 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (Nasdaq:WSFS), the parent company of WSFS Bank, announced today that WSFS was named a Top 25 Performer for 2007 Return on Equity by the ABA Banking Journal.
Of 157 public banks, thrifts and holding companies with greater than $3 billion in assets, WSFS Bank ranked 22 by return on average total equity (ROAE) for 2007.
"As a key metric of creating value for all our constituents, we are very pleased with our ROE performance in 2007 and thrilled to be named on the Top 25 Performer list," said Mark A. Turner, WSFS President and CEO.
"WSFS remains focused on its culture of engaged Associates providing Stellar Service to create customer advocates. This in turn helps creates strong financial performance and a healthy return to our shareholders," continued Mr. Turner.
The 16th annual report ranks the performance of publicly-held, domestic depository institutions (banks, thrifts, and bank or financial holding companies) with assets over $3 billion and is based on data provided by SNL Financial LC as of December 31, 2007. Securities and Exchange Commission filings were the source for data.
This award is one of many accolades that has brought recognition to WSFS and its Associates, including most recently being named one of the 2008 "Best in the Business" companies for the third consecutive year by the Wilmington News Journal.
"This further reinforces that our strategy and commitment to engaged Associates and engaged customers is working to build a high performing banking franchise," said Mr. Turner.
About WSFS Financial Corporation
WSFS Financial Corporation is a $3.2 billion financial services company. Its primary subsidiary, Wilmington Savings Fund Society, FSB (WSFS Bank), operates 31 retail banking offices located in Delaware and Pennsylvania, as well as three loan production offices in Dover, Delaware; Blue Bell, Pennsylvania and Annandale, Virginia. WSFS Bank provides comprehensive financial services including personal trust and wealth management. Other subsidiaries include WSFS Investment Group, Inc., Montchanin Capital Management, Inc. and 1st Reverse Financial Services, LLC. Founded in 1832, WSFS is one of the ten oldest banks in the United States continuously operating under the same name. For more information, please visit the Bank's website at www.wsfsbank.com.