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WSFS application to merge with Alliance Bank clears hurdle

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The Comptroller of the Currency has approved WSFS Bank’s application to merge with Alliance Bank, the last regulatory hurdle the banks had before the acquisition.

After the acquisition, WSFS will grow to $5.5 billion in assets.

WSFS should acquire the bank , a wholly owned subsidiary of Alliance Bancorp Inc. of Pennsylvania, by Oct. 9 and the systems conversion of Alliance to WSFS’ systems is expected to occur by Oct. 13.

After the acquisition, WSFS will have 63 offices, including 17 locations in Southeastern Pennsylvania, and grow to $5.5 billion in assets.

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