WSFS to shrink branch network by 25% after merger closes


The Wilmington, Del., company has identified the 30 branches it plans to close or sell following its acquisition of Beneficial Bancorp in Philadelphia. Most the the closures will take place in Pennsylvania.


Customers in Pa. to restate 2017 results after material weakness found


The company will also restate financials for the first half of 2018 to correct how it classified cash flow activities tied to commercial mortgage warehouse lending.


Orrstown in Pa. to expand in Baltimore with Hamilton acquisition


Orrstown will pay $59 million in cash and stock to gain seven branches and $409 million in deposits.


PNC to debut entirely digital small-business loans


The $380-billion asset company will soon join the parade of big banks and tech companies that are migrating online to meet the demands of business owners.


First Commonwealth in Pa. hires state politician to become regional president


David Reed, a Republican, is stepping down as a state legislator after redistricting cost him a shot at a congressional seat.


Customers Bancorp suspends planned spinoff of digital bank


BankMobile will remain part of Customers for at least two years after regulatory snags derailed a plan to transfer the unit to a Florida bank.


C&N expands closer to Philadelphia with Monument acquisition


Citizens & Northern will pay $43 million for the $348 million-asset Monument.


JPMorgan to open 50 branches, hire 300 staff in Philadelphia region


It will also invest in mortgage and small-business lending and in neighborhood revitalization efforts there. The moves are part of a nationwide expansion by the largest U.S. bank.


Codorus Valley hires veteran Pa. banker to lead its bank


Craig Kauffman had been a regional executive for Susquehanna Bancshares and BB&T.


WSFS broke the mold with its latest deal. Other banks should take note


Merger announcements typically follow a tried-and-true formula of cutting costs to boost profit. WSFS, however, plans to reinvest $32 million in new tech initiatives after buying Beneficial.