NEWARK, Del. — WSFS Financial Corporation (NASDAQ/NMS:WSFS), a $2.4 billion financial services company and the parent of WSFS Bank and Cash Connect ATM Solutions, has earned the top position in U.S. Banker's ranking of mid-tier banks for the second year in a row.
The ranking, in the August issue of U.S. Banker, is based on a three-year average return on equity compiled using information gathered by Keefe, Bruyette & Woods. The list of banks included the top performers with between $1 billion and $5.5 billion in assets.
The article cited WSFS' ATM division, Cash Connect, as an important part of the bank's continued success. Cash Connect supplies vault cash to more than 5,500 ATMs across the country and has experienced steady growth since in inception in 1998.
"As Cash Connect grows each year, so does its contribution to the success of WSFS. We are very excited and very proud of Cash Connect's performance," said Marvin Schoenhals, chairman and president of WSFS.
Tom Stevenson, president of Cash Connect, said that the strength of WSFS has been a major part of Cash Connect's performance.
"Having such a strong parent bank has been the key to our success. Our customers appreciate this stability, and our commitment to providing excellent vault cash services for years to come," he said.
WSFS' principal subsidiary, Wilmington Savings Fund Society, FSB, operates 23 retail banking offices in all three counties in Delaware, as well as Chester and Delaware counties in Pennsylvania. Other operating subsidiaries include WSFS Credit Corporation, WSFS Reit, Inc., WSFS Investment Group, INC. and Montchanin Capital Management, Inc.
