WSFS Financial Corporation (NASDAQ:WSFS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) In connection with his retirement and the ongoing restructuring of the Board of Directors (the “Board”) of WSFS Financial Corporation (“the Company”), Calvert A. Morgan, Jr., a member of the Board, advised the Company that he would not stand for re-election to the Board when his current term expires at the 2019 Annual Meeting of Stockholders of the Company (the “2019 Annual Meeting”). Mr. Morgan has served on the Board since 2004. Mr. Morgan’s decision not to stand for re-election at the 2019 Annual Meeting did not arise or result from any disagreement with the Company relating to the Company’s operations, policies or practices.
About WSFS Financial Corporation (NASDAQ:WSFS)
WSFS Financial Corporation is a savings and loan holding company. The Company’s subsidiary is Wilmington Savings Fund Society, FSB (WSFS Bank or the Bank), which is the bank and trust company. It operates in three segments: WSFS Bank, Cash Connect and Wealth Management. The WSFS Bank segment provides loans and other financial products to commercial and retail customers. Its Cash Connect segment provides automated teller machine (ATM) services through strategic partnerships with several of the network, manufacturers and service providers in the ATM industry. The Wealth Management segment provides a range of fiduciary, investment management, credit and deposit products to clients. Its banking business is commercial lending funded by customer-generated deposits. It also offers a range of consumer loan products, retail securities and insurance brokerage services. Its subsidiaries include WSFS Wealth Investments, 1832 Holdings, Inc., Monarch and West Capital Management.
