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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):November 20,1998
WSFS FINANCIAL CORPORATION
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(Exact name of registrant as specified in its charter)
DELAWARE 0-16668 22-2866913
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(State or other jurisdiction (Commission (I.R.S. employer
of incorporation) file number) identification no.)
838 MARKET STREET, WILMINGTON, DELAWARE 19899
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code:(302) 792-6000
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Not Applicable
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(Former name or former address, if changed since last report)
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Exhibit Index on Page 2
ITEM 5. OTHER EVENTS
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On November 20, 1998, the Registrant's wholly owned
subsidiary, WSFS Capital Trust I (the "Trust") issued
$50,000,000 aggregate liquidation amount of Floating Rate
Cumulative Trust Preferred Securities at a public offering price
of $1,000 per Trust Preferred Security. Distributions will be
paid on the Trust Preferred Securities at a variable rate, reset
quarterly, equal to three-month LIBOR plus 250 basis points.
The Trust Preferred Securities are guaranteed by the Registrant
based on several obligations. The Trust invested the proceeds
from such sale into $50,000,000 aggregate principal amount of
Floating Rate Junior Subordinated Debentures due December 1,
2028 of the Company with the same financial terms and payment
obligations as the Trust Preferred Securities.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION
AND EXHIBITS
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(a) Financial Statements of Businesses Acquired. None
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(b) Pro Forma Financial Information. None
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(c) Exhibits. The following exhibits are filed as part
-------- of this report on Form 8-K:
EXHIBIT NO. DESCRIPTION
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1.1 Underwriting Agreement dated November
17, 1998, between Sandler O'Neill &
Partners, L.P. and WSFS Financial
Corporation and Wilmington Savings Fund
Society, Federal Savings Bank
4.1 Amended and Restated Trust Agreement of
WSFS Capital I
4.2 Officers Certificate and Company Order
for Floating Rate Junior Subordinated
Debentures due December 1, 2028
4.3 Trust Preferred Securities Guarantee
Agreement
4.4 Form of Trust Preferred Security
(included in Exhibit 4.1)
4.5 Form of Floating Rate Junior Subordinated
Debenture due December 1, 2028
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly author-
ized.
WSFS FINANCIAL CORPORATION
Date: November 20, 1998 BY: /s/ Marvin N. Schoenhals
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Marvin N. Schoenhals
Chairman, President
and Chief Executive Officer