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WSFS completes sale of 5 Beneficial Bank offices to Bank of Princeton

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WSFS completes sale of 5 Beneficial Bank offices to Bank of Princeton

WSFS Financial Corp. completed the sale of five Beneficial Bank retail banking offices to Bank of Princeton, a community bank in New Jersey.

The bank offices are in Bordentown, Browns Mills, Chesterfield, Deptford and Sicklerville, N.J., and have about $180 million in deposits.

The sale is part of the Wilmington, Del.-based company's optimization plan, following its merger with Philadelphia-based Beneficial Bancorp Inc.

WSFS Financial plans to consolidate 25 more WSFS and Beneficial retail locations, most of which will be completed in late August when the remaining Beneficial banking offices will be converted and rebranded.

Following the acquisition, Bank of Princeton has 19 branches and expanded its footprint in Burlington, Gloucester and Camden, N.J.