WILMINGTON, Del., Oct. 1, 2013 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (Nasdaq:WSFS), the parent company of WSFS Bank, today announced that October 1 will be marked as WSFS Founder's Day, honoring this day in 1831 when its founder, Willard Hall, was elected President of Wilmington Savings Fund Society.
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In August 1831, Willard Hall and other community leaders started to plan for a savings bank because there was a strong need and desire by the hard-working citizens of the area to have a safe place to deposit and grow their savings. At the time, banks were very sparse and primarily for the wealthy; most people kept their savings under the mattress or hidden in drawers, and it often went missing.
In September 1831, twenty-five members were elected to the first board of Wilmington Savings Fund Society, one of whom was Willard Hall. On October 1, 1831, he was elected as its first President.
"Today is a very special day at WSFS; today we thank and honor our founder, Willard Hall, for his great service to this community and for creating a community bank to help working men and women save and prosper," said Mark A. Turner, WSFS President and Chief Executive Officer. Continued Mr. Turner, "We think Willard would be proud of and marvel at what we've become – a full-service financial institution serving people from modest means to people of wealth, as well as businesses of all sizes, through both traditional and high-tech banking solutions. Thanks to Willard's vision and leadership, and the dedication of all the Associates that followed him, we will continue his legacy so that WSFS remains a cornerstone of this community for many generations to come."
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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