Assets under management by Cypress Capital Management (Cypress Capital), a division of WSFS Financial Corporation, have reached a milestone of $1 billion.

Founded in 1984 and acquired by WSFS in 2004, the division caters to individuals, family trusts, charitable organizations, foundations, endowments, and corporate pension and profit-sharing plans.

"This is a significant milestone for our Company and it energizes us to stay the course on our strategy, which has produced sustained financial returns for our clients," said Kelly Wellborn, president and Managing Executive of Cypress Capital Management.

"With a healthy mix of balanced asset allocation, a conservative investment approach, active management of securities, and a focus on tax efficiency and income generation, Cypress Capital's investment managers have a proven track record of delivering competitive and durable results for our clients through various business and credit cycles."

"Reaching $1 billion in assets under management is a significant achievement for Kelly and the rest of the
Cypress Capital team," said Art Bacci, executive vice president and chief wealth officer, WSFS Financial
Corporation. "As we execute our combination with Beneficial Bank, our investment managers at Cypress Capital look forward to offering their successful strategy and customized service and solutions to Beneficial's Customer base."