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WSFS Financial all set to acquire Penn Liberty Financial

Wilmington, Del.-based WSFSFinancial Corp. secured all the required approvals needed in its of Wayne,Pa.-based Penn Liberty Financial Corp.

In an April 5 news release, the company said the with Penn Liberty has been green-lightedby Penn Liberty shareholders, the OCC and the Pennsylvania Department of Banking.The transaction has also received the required waiver from the Federal Reserve Board.

The release stated that the transaction is expected to meet orexceed all of WSFS' financial-return hurdles and is projected to be immediatelyaccretive to earnings per share, excluding one-time costs.

The deal closing is expected to occur Aug. 12, and Penn LibertyBank is scheduled to be fully converted and integrated the weekend before it opensas WSFS Bank on Aug. 15.