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Covington Represents WSFS Financial in $1.5 Billion Acquisition

Press Release August 8, 2018

WASHINGTON—Covington advised Wilmington, Delaware-based WSFS Financial Corporation in its acquisition of Philadelphia-based Beneficial Bancorp, Inc., in a transaction valued at approximately $1.5 billion.

This is the second bank M&A deal in two weeks where Covington is representing the acquiring institution. Covington is also representing Dallas-based Veritex Holdings in its $1 billion acquisition of Houston-based Green Bancorp. These two deals are the 5th and 6th largest bank M&A deals, respectively, this year.

The Covington team included Rusty Conner, Michael Reed, Chris DeCresce, Charlotte May, Nora Diamond-Jones, Max Corey, Brianna Bloodgood, and Tyler Sines (corporate); Jenna Wallace, Megan Woodford, and James Damon (employment and benefits); Michael Nonaka, Dwight Smith, and Randy Benjenk (bank regulatory); and Kurt Baca and Jon Endean (tax).

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