<DOCUMENT>
<TYPE>EX-21
<SEQUENCE>3
<FILENAME>ex-21.txt
<DESCRIPTION>SUBSIDIARIES OF REGISTRANT
<TEXT>
                         Subsidiaries of the Registrant


<TABLE>
<CAPTION>

                                                                                                   State or
                                                                              Percent          Other Jurisdiction
Parent Company                                   Subsidiary                    Owned            of Incorporation
--------------                                   ----------                    -----           ----------------
<S>                           <C>                                         <C>                <C>
WSFS Financial Corporation       Wilmington Savings Fund Society,               100%            United States
                                    Federal Savings Bank
                                 WSFS Capital Trust, III                        100%            Delaware
                                 Montchanin Capital Management, Inc.            100%            Delaware

Wilmington Savings Fund          WSFS Reit, Inc                                 100%            Delaware
 Society, Federal                WSFS Investment Group, Inc.                    100%            Delaware
 Savings Bank


Montchanin Capital               Cypress Capital Management, LLC                 90%(1)         Delaware
Management, Inc.
</TABLE>

(1)  During 2007 this ownership percentage increased to 100%.
</TEXT>
</DOCUMENT>