Mergers & Acquisitions ·
WSFS Financial Corporation announced a partnership with Elan Financial Services to issue WSFS-branded credit cards and…
WSFSWsfs Financial Corp
WSFS Financial Corporation announced a partnership with Elan Financial Services to issue WSFS-branded credit cards and simultaneously sold its credit card portfolio to Elan. The transaction, involving a portfolio with a $36.3 million outstanding book balance as of May 31, 2026, is expected to reflect a gain of approximately $1.7 million and a provision release of approximately $1.3 million in the second quarter of 2026. WSFS Financial Corporation is a financial services company providing banking and credit card services.