Benzinga | Jun 10, 2021 05:01PM EDT

WSFS And BMTC Receive Stockholder Approval To Combine; Expects To Close Merger Q4 2021

WSFS Financial Corporation (NASDAQ:WSFS) and Bryn Mawr Bank Corporation (NASDAQ:BMTC), jointly announced today that their respective stockholders approved the previously announced merger of BMTC into WSFS at a special meeting of stockholders for each company.



"Stockholder approval from both companies is another milestone in our combination that will make WSFS one of the only banks headquartered in the region with local market knowledge, local decision-making, a balance sheet to compete with the larger banks, and a full-service product suite, including a premier wealth business," said Rodger Levenson, WSFS' Chairman, President and CEO.

Subject to required regulatory approvals and the satisfaction of other conditions, the parties expect to close the merger in the fourth quarter of 2021. The projected system conversion and Bank rebranding is scheduled to occur in January 2022.