M&A Deal Summary

WSFS Financial Acquires Sun National Bank - Delaware Branch Network

On July 28, 2008, WSFS Financial acquired financial services company Sun National Bank - Delaware Branch Network from Sun Bancorp

Acquisition Highlights
  • This is WSFS Financial’s 1st transaction in the Financial Services sector.
  • This is WSFS Financial’s 1st transaction in the United States.
  • This is WSFS Financial’s 1st transaction in Delaware.

M&A Deal Summary
Date 2008-07-28
Target Sun National Bank - Delaware Branch Network
Sector Financial Services
Buyer(s) WSFS Financial
Sellers(s) Sun Bancorp
Deal Type Divestiture

Target

Sun National Bank - Delaware Branch Network

Delaware, United States
Sun National Bank - Delaware Branch Network comprises six Sun National Bank's Delaware branches provides personal and business banking, custody, investment management, and trust services for residents and non-residents.

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Buyer(S) 1

Buyer

WSFS Financial

Wilmington, Delaware, United States
Category Company
Founded 1832
Sector Financial Services
Employees2,241
Revenue 1.0B USD (2023)
DESCRIPTION

WSFS Financial is a financial services company. Its primary subsidiary, Wilmington Savings Fund Society, FSB (WSFS Bank), operates 42 banking offices located in Delaware (35), Pennsylvania (5), Virginia (1) and Nevada (1). WSFS Bank provides comprehensive financial services including commercial banking, retail banking and trust and wealth management through its Christiana Trust division. WSFS Financial was founded in 1832 and is based in Wilmington, Delaware.

DEAL STATS #
Overall 1 of 7
Sector (Financial Services) 1 of 7
Type (Divestiture) 1 of 2
State (Delaware) 1 of 3
Country (United States) 1 of 7
Year (2008) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-03 Christiana Bank & Trust

Greenville, Delaware, United States

Christiana Bank & Trust Co. offers commercial and retail banking services.

Buy $35M

Seller(S) 1

SELLER

Sun Bancorp

Mount Laurel, New Jersey, United States
Category Company
Founded 1985
Sector Financial Services
Employees362
Revenue 98M USD (2015)
DESCRIPTION

Sun Bancorp Inc. is a provider of commercial and retail banking services. Sun Bank serves the region through more than 30 community banking centers across eleven New Jersey counties, as well as through commercial lending offices in Edison and Mount Laurel, New Jersey, and Manhattan, New York.

DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
State (Delaware) 1 of 1
Country (United States) 1 of 1
Year (2008) 1 of 1
Mergr

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