WSFS To Buy Array Financial Group, Arrow Land Transfer

(RTTNews) - WSFS Financial Corp. (WSFS) said Monday that its wholly owned subsidiary, WSFS Bank, has entered into a definitive agreement to purchase the assets and operations of Array Financial Group, Inc., a mortgage banking company, and a related entity, Arrow Land Transfer Co., an abstract and title company, both headquartered in nearby Haverford, Pennsylvania by means of an asset purchase deal expected to close on July 31.

Array Financial Group, Inc. is a Delaware Valley mortgage banking company, specializing in a variety of residential mortgage and refinancing solutions. In 2012, Array originated $150 million in mortgage loans and has experienced 24% compounded annual growth since its start in 2005.

All current employees with Array Financial and Arrow will become WSFS Associates.