Deal Snapshot
THE BANK OF PRINCETON CLOSES ACQUISITION OF FIVE BENEFICIAL BRANCHES IN NEW JERSEY
Monday 20 May 2019

US-based bank holding company Beneficial Bancorp, Inc.'s (NASDAQ: BNCL) Beneficial Bank subsidiary has closed a purchase and assumption agreement to sell five branches in Bordentown, Browns Mills, Chesterfield, Deptford, and Sicklerville, New Jersey to New Jersey, US-based The Bank of Princeton (NASDAQ: BPRN), the company said.
These are the five retail banking offices previously identified by WSFS Financial Corp., and its subsidiary WSFS Bank, on December 13, 2018 as being outside of the combined core footprint of Beneficial and WSFS following the previously announced merger of the two companies, which is expected to close in 1Q19.


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Details
Date Published: 20/05/2019
Target: Beneficial Bank/Five branches in,  Bordentown, Browns Mills, Chesterfield, Deptford, and Sicklerville, New Jersey to New Jersey
Country: USA
Sector: Banking/Financial Services
Type: Corporate acquisition
Financing: Cash and Stock
Status: Closed
Vendor: Beneficial Bank
Buyer: The Bank of,  Princeton
Buyer Advisor: Stevens and Lee
Comment:
Terms of the deal were not disclosed

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