0001193125-13-352153.txt : 20130829 0001193125-13-352153.hdr.sgml : 20130829 20130829163958 ACCESSION NUMBER: 0001193125-13-352153 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20130826 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20130829 DATE AS OF CHANGE: 20130829 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WSFS FINANCIAL CORP CENTRAL INDEX KEY: 0000828944 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 222866913 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35638 FILM NUMBER: 131069504 BUSINESS ADDRESS: STREET 1: 500 DELAWARE AVENUE CITY: WILMINGTON STATE: DE ZIP: 19801 BUSINESS PHONE: 3027926000 MAIL ADDRESS: STREET 1: 500 DELAWARE AVENUE CITY: WILMINGTON STATE: DE ZIP: 19801 FORMER COMPANY: FORMER CONFORMED NAME: STAR STATES CORP DATE OF NAME CHANGE: 19920703 8-K 1 d590944d8k.htm FORM 8-K Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

August 26, 2013

Date of Report

(Date of earliest event reported)

 

 

WSFS Financial Corporation

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   0-16668   22-2866913

(State or other jurisdiction

of incorporation)

 

(SEC Commission

File Number)

 

(IRS Employer

Identification Number)

500 Delaware Avenue, Wilmington, Delaware   19801
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code: (302) 792-6000

Not Applicable

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

 

 

 


Item 8.01 Other Events.

WSFS Financial Corporation (the “Company”) issued a press release on August 29, 2013, announcing the redemption of its remaining cumulative perpetual preferred stock on August 26, 2013. The redemption of this excess capital was funded by available cash on hand of the Company at the stated liquidation (par) value of $1,000 per share. The Company paid preferred stockholders a total of $32,675,000 which included accrued and unpaid dividends to, but excluding August 26, 2013. A copy of the press release is filed herewith as Exhibit 99.1 and is incorporated herein by reference.

 

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

 

99.1    Press Release Dated August 29, 2013


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned, hereunto duly authorized.

 

    WSFS FINANCIAL CORPORATION
Date: August 29, 2013     By:   /s/ Stephen A. Fowle
      Stephen A. Fowle
      Executive Vice President and
      Chief Financial Officer


EXHIBIT INDEX

 

99.1    Press Release Dated August 29, 2013
EX-99.1 2 d590944dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

 

LOGO

 

PRESS RELEASE

   Investor Relations Contact: Stephen A. Fowle

August 29, 2013

  

(302) 571-6833

sfowle@wsfsbank.com

  

Media Contact: Stephanie Heist

  

(302) 571-5259

  

sheist@wsfsbank.com

WSFS COMPLETES REDEMPTION OF PREFERRED STOCK

WILMINGTON, Del. — WSFS Financial Corporation (NASDAQ: WSFS), the parent company of WSFS Bank, announced that it completed the redemption of its remaining cumulative preferred stock on August 26, 2013. This redemption of excess capital was funded by available cash on hand from WSFS Financial Corporation at the stated liquidation (par) value of $1,000 per share. WSFS paid preferred stockholders $32,675,000, which included accrued and unpaid dividends to, but excluding the date of redemption, that have been earned since the last regular quarterly payment of dividends.

The redemption of the excess capital will be immediately accretive to earnings per share of common stock, adding meaningfully to common stockholders’ value over time.

As reported earlier this year, WSFS previously repurchased $20,000,000 of the $52,600,000 outstanding preferred stock in open market transactions at or very near par value.

About WSFS Financial Corporation

WSFS Financial Corporation is a multi-billion dollar financial services company. Its primary subsidiary, WSFS Bank, is the oldest, locally-managed bank and trust company headquartered in Delaware with $4.4 billion in assets on its balance sheet and $17.1 billion in fiduciary assets, including approximately $1.1 billion in assets under management. WSFS operates from 51 offices located in Delaware (41), Pennsylvania (8), Virginia (1) and Nevada (1) and provides comprehensive financial services including commercial banking, retail banking and trust and wealth management. Other subsidiaries or divisions include Christiana Trust, WSFS Investment Group, Inc., Cypress Capital Management, LLC, Cash Connect® and Array Financial. Serving the Delaware Valley since 1832, WSFS Bank is the seventh oldest bank in the United States continuously operating under the same name. For more information, please visit www.wsfsbank.com.

# # #

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