Financial Services: WSFS Files $150 Mil Shelf Registration
June 11 2010 (FinancialWire) — WSFS Financial Corp. (NASDAQ: WSFS), the parent company of WSFS Bank, announced the filing of a universal shelf registration statement on form S-3 with the Securities and Exchange Commission .
The filing of this shelf registration provides WSFS flexibility should the company decide to raise capital at a later date. The net proceeds from a capital raising effort, if any, would be used for working capital and general corporate purposes.
Those purposes could include supporting continued growth opportunities, including organic growth and potential M&A activity, or the redemption of all or a portion of the preferred stock and warrant issued in connection with the company's participation in the U.S. Treasury's Troubled Asset Relief Program .
WSFS Financial Corp. is financial services company. Its primary subsidiary, Wilmington Savings Fund Society, FSB (WSFS Bank), operates 41 banking offices located in Delaware, Pennsylvania (4) and Virginia (1). WSFS Bank provides comprehensive financial services including trust and wealth management.
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