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Beneficial Bancorp Inc.

No Longer Reporting

The company has not filed an annual or quarterly report since its FY2018 10-K, filed Feb 26, 2019. Its latest SEC filing is a 15-12B from Mar 11, 2019.

The sections below describe the company as of the FY2018 annual report.

What Did They Do?

Provides deposit accounts and commercial, home and consumer loans to individuals, businesses and nonprofit organizations.

How Did They Make Money?

Earns most of its revenue from interest on loans and investments, less interest paid on deposits and borrowings; fees from deposit accounts and other services also contribute.

FY2018 revenue

Who Were Their Customers?

Individuals, businesses and nonprofit organizations use its banking services through offices in the Philadelphia and Southern New Jersey area.

Did Revenues Turn Into Profits?

Yes. It kept 23 cents of every revenue dollar as net income in FY2018 and turned 45 cents into free cash flow.

Net income, FY2018
23% of revenue
▲ +100% vs FY2017 ($23.9M, 12%)
Free cash flow, FY2018
45% of revenue
▲ +7% vs FY2017 ($89M, 45%)

How Were They Changing?

Since the FY2018 annual report
  • Mar 1, 2019 Beneficial merged into WSFS Beneficial Bank also merged into WSFS Bank, and Beneficial shares converted into WSFS shares plus cash.

Grew. Revenue grew 52% in 4 years, from $139.3M in FY2014 to $211.8M in FY2018, about 11% a year.

Exited advisory and insurance services The older report lists insurance brokerage and investment advisory services; the latest says wealth management ceased and the insurance agency's assets and liabilities were sold.

Who Did They Compete With?

Competes with Sovereign Bank, Commerce Bank, Wachovia Bank, Banco Santander, Toronto Dominion Bank, and Wells Fargo

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