# EDGAR Filing Document

**Accession Number:** 0000828944
**File Stem:** 0001552781-25-000455
**Filing Date:** 2025-12
**Character Count:** 226768
**Document Hash:** 283e00dcc25d081a469e07b0fa6ee2d3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001552781-25-000455.hdr.sgml**: 20251211

**ACCESSION NUMBER**: 0001552781-25-000455

**CONFORMED SUBMISSION TYPE**: 424B5

**PUBLIC DOCUMENT COUNT**: 13

**FILED AS OF DATE**: 20251211

**DATE AS OF CHANGE**: 20251210

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WSFS FINANCIAL CORP
- **CENTRAL INDEX KEY:** 0000828944
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 222866913
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 424B5
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-272862
- **FILM NUMBER:** 251563257

**BUSINESS ADDRESS:**
- **STREET 1:** 500 DELAWARE AVENUE
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19801
- **BUSINESS PHONE:** 3027926000

**MAIL ADDRESS:**
- **STREET 1:** 500 DELAWARE AVENUE
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19801

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** STAR STATES CORP
- **DATE OF NAME CHANGE:** 19920703

**Filed Pursuant to Rule 424(b)(5)<br> Registration No. 333-272862**

**Prospectus Supplement<br> (To Prospectus dated June 23, 2023)**

**$200,000,000**

![](image_001.jpg)

**WSFS Financial Corporation<br>5.375% Fixed-to-Floating Rate Senior Unsecured Notes due 2035**

We are offering $200,000,000 aggregate principal amount of our 5.375% Fixed-to-Floating Rate Senior Unsecured Notes due 2035, which we refer to as the "**Notes**." The Notes will mature on December 15, 2035. The Notes will bear interest (i) from and including, December 11, 2025 to but excluding, December 15, 2030 at a fixed rate of 5.375% per annum, payable semi-annually in arrears on June 15 and December 15 of each year, commencing on June 15, 2026, and (ii) from and including December 15, 2030 to, but excluding, the maturity date (unless redeemed prior to such date), the Notes will bear interest at a floating rate per annum equal to the Benchmark (which is expected to be Three-Month Term SOFR (as defined herein)) (each subject to the provisions described under "Description of the Notes — Interest" in this prospectus supplement), plus 189 basis points, payable quarterly in arrears on March 15, June 15, September 15 and December 15 of each year, commencing on March 15, 2031. Notwithstanding the foregoing, if the Benchmark is less than zero, the Benchmark shall be deemed to be zero. Currently, there is no public trading market for the Notes. The Notes will not be listed on any securities exchange or included in any automated dealer quotation system.

We may redeem the Notes, at our option, beginning on December 15, 2030, and on any scheduled interest payment date thereafter, in whole or in part, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the date of redemption. Any partial redemption will be made pro rata among all of the holders of the Notes.

The Notes will be senior unsecured obligations of ours and will rank equally with all our existing and future senior unsecured indebtedness, senior in right of payment to any of our existing or future obligations that are by their terms expressly subordinated or junior in right of payment to the Notes, and will be effectively subordinated to the indebtedness and other liabilities of our subsidiaries. The Notes will be obligations of WSFS Financial Corporation only and will not be obligations of, and will not be guaranteed by, any of our subsidiaries.

---

| | | |
|:---|:---|:---|
| | &nbsp;&nbsp; **Per Note** | &nbsp;&nbsp; **Total** |
| Public offering price<sup>(1)</sup> | &nbsp;&nbsp;100.000% | &nbsp;&nbsp;$200000000.00 |
| Underwriting discount<sup>(2)</sup> | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;$2000000.00 |
| Proceeds, before expenses, to WSFS Financial Corporation | &nbsp;&nbsp;99.000% | &nbsp;&nbsp;$198000000.00 |

---

(1) Plus accrued interest, if any, from December
 11, 2025, if settlement occurs after that date.

(2) The underwriters will also be reimbursed for
 certain expenses incurred in this offering. See "Underwriting (Conflicts of Interest)" for details.

**Investing in the Notes involves risks. See the section of this prospectus supplement entitled "Risk Factors" beginning on page S-6 and under the heading "Part I. Item 1A. Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which is incorporated herein by reference.**

**None of the United States Securities and Exchange Commission, any state securities commission, the Federal Deposit Insurance Corporation (the "FDIC"), the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency or any other regulatory body has approved or disapproved of these securities or determined if this prospectus is accurate or complete. Any representation to the contrary is a criminal offense.**

**The Notes will not be savings accounts, deposits or other obligations of our bank or non-bank subsidiaries and will not be insured or guaranteed by the FDIC or any other governmental agency or instrumentality.**

The underwriters expect to deliver the Notes in book-entry form only through the facilities of The Depository Trust Company ("**DTC**") and its participants (including through its indirect participants Euroclear Bank S.A./N.V., as operator of the Euroclear System ("**Euroclear**") and Clearstream Banking, a société anonyme ("**Clearstream**")) on or about December 11, 2025, against payment therefor in immediately available funds, which such date is the second business day following the date of pricing of the Notes (such settlement being referred to as "T+2"). See the section of this prospectus supplement entitled "Underwriting (Conflicts of Interest)" for details.

*Joint Book-Running Managers*

---

| | | |
|:---|:---|:---|
| **Piper Sandler** | **Keefe, Bruyette & Woods,**<br> *A Stifel Company* | **RBC Capital Markets** |

---

****<br> The date of this prospectus supplement is December 9, 2025.

**<u>**Table of Contents**</u>**

**Prospectus Supplement**

---

| | |
|:---|:---|
|  | <u>Page</u> |
| [ABOUT THIS PROSPECTUS SUPPLEMENT](#e25447_001) | S-ii |
| [INCORPORATION OF CERTAIN INFORMATION BY REFERENCE](#e25447_002) | S-iii |
| [SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS](#e25447_003) | S-iv |
| [SUMMARY](#e25447_004) | S-1 |
| [THE OFFERING](#e25447_005) | S-3 |
| [RISK FACTORS](#e25447_006) | S-6 |
| [USE OF PROCEEDS](#e25447_007) | S-14 |
| [CAPITALIZATION](#e25447_008) | S-15 |
| [DESCRIPTION OF THE NOTES](#e25447_009) | S-16 |
| [U.S. FEDERAL INCOME TAX CONSIDERATIONS](#e25447_010) | S-39 |
| [CERTAIN ERISA CONSIDERATIONS](#e25447_011) | S-43 |
| [UNDERWRITING (CONFLICTS OF INTEREST)](#e25447_012) | S-45 |
| [LEGAL MATTERS](#e25447_013) | S-49 |
| [EXPERTS](#e25447_014) | S-49 |
| [WHERE YOU CAN FIND MORE INFORMATION](#e25447_015) | S-49 |

---

**Prospectus** 

---

| | |
|:---|:---|
|  | <u>Page</u> |
| [ABOUT THIS PROSPECTUS](#e23287a_001) | 2 |
| [WHERE YOU CAN FIND MORE INFORMATION](#e23287a_002) | 3 |
| [FORWARD-LOOKING STATEMENTS](#e23287a_003) | 4 |
| [THE COMPANY](#e23287a_004) | 6 |
| [RISK FACTORS](#e23287a_005) | 7 |
| [USE OF PROCEEDS](#e23287a_006) | 8 |
| [LEGAL MATTERS](#e23287a_007) | 8 |
| [EXPERTS](#e23287a_008) | 8 |

---

S-i

**ABOUT THIS PROSPECTUS SUPPLEMENT**

This document consists of two parts. The first part is this prospectus supplement, which describes the specific terms of this offering, the Notes and certain other matters relating to us and our financial condition. This prospectus supplement also adds to and updates information contained in the accompanying prospectus and the documents incorporated by reference into this prospectus supplement and the accompanying prospectus. The second part of this document is the accompanying prospectus, dated June 23, 2023, which is included as part of our automatic shelf registration statement on Form S-3 (File No. 333-272862). That registration statement and the accompanying prospectus provide more general information about securities that we and any selling stockholder may offer from time to time, some of which may not apply to this offering. You should read both this prospectus supplement, the accompanying prospectus and any permitted free writing prospectuses we have authorized for use with respect to this offering before investing in the Notes. See "Where You Can Find More Information" for additional information.

As used in this prospectus supplement, "**WSFS Financial**," "**WSFS**," "the Company," "we," "us," and "our" refer to WSFS Financial Corporation and do not refer to any subsidiary of WSFS Financial Corporation unless the context indicates otherwise.

Unless otherwise indicated, currency amounts in this prospectus supplement are stated in U.S. dollars.

This prospectus supplement, or the information incorporated by reference in this prospectus supplement, may add, update or change information contained in the accompanying prospectus. If the information set forth in this prospectus supplement differs in any way from the information set forth in the accompanying prospectus, the information in this prospectus supplement replaces the information in the accompanying prospectus and you should rely on the information set forth in this prospectus supplement.

You should not consider any information in this prospectus supplement or the accompanying prospectus to be investment, legal or tax advice. You should consult your own counsel, accountant and other advisors for legal, tax, business, financial and related advice regarding the purchase of the Notes. We are not making any representation to you regarding the legality of an investment in the Notes by you under applicable investment or similar laws.

**You should read and consider all information contained or incorporated by reference in this prospectus supplement and the accompanying prospectus before making your investment decision. This prospectus supplement may be used only for the purpose for which it has been prepared. We have not, and the underwriters have not, authorized anyone to give information other than that contained in this prospectus supplement and in the documents referred to in this prospectus supplement or to which we have referred you. Neither we nor the underwriters take any responsibility for, or can provide any assurance as to the reliability of, any information that others may give you.**

**We are not, and the underwriters are not, making an offer to sell these securities in any jurisdiction where the offer or sale thereof is not permitted. You should not assume that the information appearing in this prospectus supplement or any document incorporated by reference is accurate as of any date other than the date of the applicable document. Our business, financial condition, results of operations and prospects may have changed since that date. Neither this prospectus supplement nor the accompanying prospectus constitutes an offer, or an invitation on our behalf or on behalf of the underwriters, to subscribe for and purchase any of the securities and may not be used for or in connection with an offer or solicitation by anyone, in any jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation.**

S-ii

**INCORPORATION OF CERTAIN INFORMATION BY REFERENCE**

The Securities and Exchange Commission ("**SEC**") allows us to "incorporate by reference" certain information into this prospectus supplement, which means that we can disclose important information to you by referring to documents that we have filed, or will file, with the SEC. The information incorporated by reference contains information about us and our financial condition and performance and is an important part of this prospectus. We incorporate by reference the following documents filed with the SEC (other than information that pursuant to SEC rules is deemed not to be filed):

&nbsp;&nbsp;&nbsp;&nbsp;· the Company's Annual Report on [Form 10-K](https://www.sec.gov/ix?doc=/Archives/edgar/data/828944/000162828025008977/wsfs-20241231.htm) for the fiscal year ended December 31, 2024 filed
with the SEC on February 28, 2025 (including the portions of our Definitive Proxy Statement on [Schedule 14A](https://www.sec.gov/ix?doc=/Archives/edgar/data/0000828944/000155278125000122/e25077_wsfs-def14a.htm) , filed with the SEC on
April 1, 2025, incorporated by reference therein);

&nbsp;&nbsp;&nbsp;&nbsp;· the Company's Quarterly Reports on Form 10-Q for the quarters ended [March 31, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/828944/000162828025022978/wsfs-20250331.htm) , filed
with the SEC on May 7, 2025; [June 30, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/828944/000162828025037054/wsfs-20250630.htm) , filed with the SEC on July 31, 2025; and [September 30, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/828944/000082894425000013/wsfs-20250930.htm) , filed with the
SEC on November 4, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;· the
 Company's Current Reports on Form 8-K filed with the SEC on [May 20, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/0000828944/000162828025026828/wsfs-20250515.htm) ; [October 29, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/0000828944/000082894425000010/wsfs-20251023.htm) (Item 5.02 only); and [December 9, 2025](http://www.sec.gov/ix?doc=/Archives/edgar/data/828944/000155278125000446/e25452_wsfs-8k.htm) and

&nbsp;&nbsp;&nbsp;&nbsp;· the description of our common stock, par value $0.01 per share, contained in our Registration Statement
on Form 8-A filed with the SEC pursuant to Section 12(b) of the Exchange Act on July 7, 1989, as updated by [Exhibit 4.1](https://www.sec.gov/Archives/edgar/data/828944/000082894420000009/a41wsfs-descriptionofcom.htm) to our Annual
Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on March 2, 2020, including any other amendment or report
filed with the SEC for the purpose of updating such description.

In addition, all future filings that we make with the SEC under Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934 (the "**Exchange Act**") after the filing of this prospectus supplement and prior to the termination of this offering, are deemed incorporated by reference into this prospectus supplement (other than any information furnished to, rather than filed with, the SEC, unless expressly stated otherwise therein). Any statement contained in a document incorporated by reference in this prospectus supplement will be deemed to be modified or superseded for purposes of this prospectus supplement to the extent that any statement contained in this prospectus supplement or in any subsequently filed document which also is or is deemed to be incorporated by reference in this prospectus supplement modifies or supersedes the statement. Any statement modified or superseded in this way will not be deemed, except as so modified or superseded, to constitute a part of this prospectus supplement.

Documents incorporated by reference into this prospectus are available without charge to you on the Internet at www.wsfsbank.com. The references to our website herein are not intended to be active links and the information on, or that can be accessed through, our website is not, and you must not consider the information to be, a part of this prospectus supplement or any other filings we make with the SEC. You may also request a copy of any or all of the documents that have been incorporated by reference in this prospectus supplement, at no cost by writing to or telephoning us at the following address:

WSFS Financial Corporation

WSFS Bank Center

500 Delaware Avenue

Wilmington, Delaware 19801

(302) 792-6000

Attention: Investor Relations

S-iii

**SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS**

This prospectus supplement, the accompanying prospectus and the documents that we incorporate by reference in this prospectus supplement and the accompanying prospectus contain, and future oral and written statements of the Company and its management may contain estimates, predictions, opinions, projections and other "forward-looking statements" as that phrase is defined in the Private Securities Litigation Reform Act of 1995. Such statements include, without limitation, references to the Company's predictions or expectations of future business or financial performance as well as its goals and objectives for future operations, financial and business trends, business prospects, and management's outlook or expectations for earnings, revenues, expenses, capital levels, liquidity levels, asset quality or other future financial or business performance, strategies or expectations. The words "believe," "expect," "anticipate," "plan," "estimate," "target," "project" and similar expressions, among others, generally identify forward-looking statements. Such forward-looking statements are based on various assumptions (some of which may be beyond the Company's control) and are subject to risks and uncertainties (which change over time) and other factors which could cause actual results to differ materially from those currently anticipated. Such risks and uncertainties include, but are not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;· volatile
market conditions and uncertain economic trends in the United States generally and in financial markets, particularly in the markets
in which the Company operates and in which its loans are concentrated, including potential recessionary and other unfavorable
conditions and trends related to housing markets, costs of living, unemployment levels, interest rates, supply chain issues, the
United States government shutdown, inflation, and economic growth;

· possible
additional loan losses and impairment of the collectability of loans;

· the Company's level of nonperforming assets and the costs associated with resolving problem loans including litigation and
other costs;

· the credit risk associated with the substantial amount of commercial real estate, commercial and industrial, and construction and
land development loans in the Company's loan portfolio;

· changes in market interest rates, which may lead to reduced margin as a result of increased funding costs and/or reduced earning
asset yields;

· changes in the credit quality and strength of underlying collateral and the effect of such changes on the market value of the Company's
investment securities portfolio, which could impact market confidence in the Company's operations;

· the extensive federal and state regulation, supervision and examination governing almost every aspect of the Company's operations,
and potential expenses associated with complying with such regulations;

· the Company's ability to comply with applicable capital and liquidity requirements, including its ability to generate liquidity
internally or raise capital on favorable terms;

· the impacts related to or resulting from bank failures and other economic and industry volatility, including potential changes
in regulatory requirements and costs and potential impacts to macroeconomic conditions;

· changes in trade, monetary and fiscal policies and stimulus programs, laws and regulations and other activities of governments,
agencies, and similar organizations, and the uncertainty of the short- and long-term impacts of such changes;

· any impairments of the Company's goodwill or other intangible assets;

· the success of the Company's growth plans;

· failure of the financial and/or operational controls of the Company's Cash Connect® and/or Wealth and Trust segments;

S-iv

&nbsp;&nbsp;&nbsp;&nbsp;· negative perceptions or publicity with respect to the Company generally and, in particular, the Company's Wealth and Trust
segment;

· adverse judgments or other resolution of pending and future legal proceedings, and cost incurred in defending such proceedings;

· the Company's reliance on third parties for certain important functions, including the operation of its core systems, and
any failures by such third parties;

· system failures or cybersecurity incidents or other breaches of the Company's network security, particularly given remote
working arrangements;

· the Company's ability to recruit and retain key associates;

· the effects of weather, including climate change, and natural disasters such as floods, droughts, wind, tornadoes, wildfires and
hurricanes as well as effects from geopolitical instability, armed conflicts, public health crises and man-made disasters including terrorist
attacks;

· the effects of regional or national civil unrest (including any resulting branch or ATM closures or damage);

· possible changes in the speed of loan prepayments by the Company's clients and loan origination or sales volumes;

· possible changes in market valuations and/or the speed of prepayments of mortgage-backed securities (MBS) due to changes in the
interest rate environment and the related acceleration of premium amortization on prepayments in the event that prepayments accelerate;

· regulatory limits on the Company's ability to receive dividends from its subsidiaries, pay dividends to its stockholders,
and repurchase shares of its common stock;

· any reputation, credit, interest rate, market, operational, litigation, legal, liquidity, regulatory and compliance risk resulting
from developments related to any of the risks discussed above;

· any compounding effects or unexpected interactions of the risks discussed above; and

· other risks and uncertainties, including those discussed in the Company's Annual Report on Form 10-K for the year ended December
31, 2024 under the heading "Risk Factors" and in other documents filed by the Company with the SEC from time to time.

The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. The Company disclaims any duty to revise or update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company for any reason, except as specifically required by law.

S-v

**SUMMARY**

*This summary highlights selected information contained elsewhere or incorporated by reference in this prospectus supplement, which are described in the section of this prospectus entitled "Incorporation of Certain Information by Reference," and does not contain all the information that you need to consider in making your investment decision. You should carefully read this entire prospectus supplement and the accompanying prospectus, as well as the information to which we refer you and the information incorporated by reference herein, before deciding whether to invest in the Notes. You should pay special attention to the section entitled "Risk Factors" in this prospectus supplement and in the documents incorporated by reference herein and in the accompanying prospectus to determine whether an investment in the Notes is appropriate for you.*

**WSFS Financial Corporation**

WSFS Financial Corporation is a savings and loan holding company headquartered in Wilmington, Delaware. Substantially all of our assets are held by our subsidiary, Wilmington Savings Fund Society, FSB ("**WSFS Bank**" or the "**Bank**"), one of the ten oldest bank and trust companies in the United States continuously operating under the same name. At $20.8 billion in assets and $93.4 billion in assets under management ("**AUM**") and assets under administration ("**AUA**") at September 30, 2025, WSFS Bank is also the oldest and largest locally-managed bank and wealth management franchise headquartered in the Greater Philadelphia and Delaware region. As a federal savings bank that was formerly chartered as a state mutual savings bank, WSFS Bank enjoys a broader scope of permissible activities than most other financial institutions. A fixture in the community, we have been in operation for more than 193 years. In addition to our focus on stellar client experience, we have continued to fuel growth and remain a leader in our community. We are a relationship-focused, locally-managed, community banking institution. Our mission and strategy is simple: "**We Stand for Service**."

As of September 30, 2025, we had five consolidated subsidiaries: WSFS Bank, The Bryn Mawr Trust Company of Delaware (BMT-DE), Bryn Mawr Trust Advisors (BMTA), WSFS SPE Services, LLC and 601 Perkasie, LLC. As of September 30, 2025, we also had three unconsolidated subsidiaries: WSFS Capital Trust III, Royal Bancshares Capital Trust I and Royal Bancshares Capital Trust II. WSFS Bank has two wholly-owned subsidiaries: Beneficial Equipment Finance Corporation (BEFC) and 1832 Holdings, Inc., and one majority-owned subsidiary, NewLane Finance Company (NewLane Finance<sup>®</sup>).

Our banking business had a total loan and lease portfolio of $12.5 billion as of September 30, 2025, which was funded primarily with deposits generated through commercial relationships and our consumer banking business. We have built a $9.7 billion commercial loan and lease portfolio by recruiting seasoned commercial lenders in our markets, offering a high level of service and flexibility, through acquisitions, and through our leasing business conducted by NewLane Finance<sup>®</sup>. NewLane Finance<sup>®</sup> originates small business leases and provides commercial financing to businesses nationwide, targeting various equipment categories. We also offer a broad variety of consumer loan products and retail securities brokerage through our retail branches, in addition to mortgage and title services through our branches and WSFS Mortgage<sup>®</sup>, our mortgage banking business specializing in a variety of residential mortgage and refinancing solutions. In addition, NewLane Finance<sup>®</sup> offers captive insurance through its subsidiary, Prime Protect.

Our Cash Connect<sup>®</sup> business is a premier provider of ATM vault cash, smart safe (safes that automatically accept, validate, record and hold cash in a secure environment) and other cash logistics services through strategic partnerships with several of the largest networks, manufacturers and service providers in the ATM industry. Cash Connect<sup>®</sup> services non-bank and WSFS-branded ATMs and smart safes nationwide, and manages approximately $1.3 billion in total cash and services approximately 24,900 non-bank ATMs and 11,600 smart safes nationwide, as of September 30, 2025. Cash Connect<sup>®</sup> provides related services such as online reporting and ATM cash management, predictive cash ordering and reconcilement services, armored carrier management, loss protection, and deposit safe cash logistics. Cash Connect<sup>®</sup> also supports 524 owned or branded ATMs for WSFS Bank clients as of September 30, 2025, which is one of the largest branded ATM networks in our market.

Our Wealth and Trust business provides a broad array of planning and advisory services, investment management, trust services, and credit and deposit products to individual, corporate and institutional clients. Combined, these businesses had $93.4 billion of AUM and AUA at September 30, 2025.

Bryn Mawr Trust<sup>®</sup> is our predominant Private Wealth Management brand, providing advisory, investment management and trustee services to institutions, affluent and high-net-worth individuals. Private Wealth Management serves high-net-worth clients and institutions by providing trustee and advisory services, financial planning, customized investment strategies, brokerage products such as annuities and traditional banking services such as credit and deposit products tailored to its clientele. Private Wealth Management includes businesses that operate under the Bank's charter, through a third-party broker/dealer and as a registered investment advisor (RIA). It generates revenue through a percentage fee based on account assets, fee-only arrangements, net interest income and other fee-only services such as estate administration, trust tax planning and custody.

BMT-DE provides personal trust and fiduciary services to families and individuals across the U.S. and internationally. WSFS Institutional Services<sup>®</sup> provides trustee, agency, bankruptcy administration, custodial and commercial domicile services to institutional, corporate clients and special purpose vehicles.

As of September 30, 2025, we service our clients primarily from 114 offices located in Pennsylvania (58), Delaware (38), New Jersey (14), Florida (2), Nevada (1) and Virginia (1), our ATM network, our website at www.wsfsbank.com and our mobile app. Our principal executive office is located at 500 Delaware Avenue, Wilmington, Delaware 19801, and our telephone number is (302) 792-6000.

Additional information about us is included in our filings with the SEC, which are incorporated by reference into this prospectus supplement. See the sections of this prospectus supplement entitled "Where You Can Find More Information" and "Incorporation of Certain Information by Reference." We maintain an Internet website at www.wsfsbank.com. The references to our website herein are not intended to be active links and the information on, or that can be accessed through, our website is not, and you must not consider the information to be, a part of this prospectus supplement or any other filings we make with the SEC.

**THE OFFERING**

*The following description contains basic information about the Notes and this offering. This description is not complete and does not contain all of the information that you should consider before investing in the Notes. For a more complete understanding of the Notes, this offering and our business, you should carefully read this entire prospectus supplement and the accompanying prospectus, particularly the section of this prospectus supplement entitled "Description of the Notes" and the sections entitled "Risk Factors" beginning on page S-6 of this prospectus supplement and in our Annual Report on Form 10-K for the year ended December 31, 2024 and our other filings with the SEC, and the other documents incorporated by reference in this prospectus supplement and the accompanying prospectus.*

---

| | |
|:---|:---|
| **Issuer:** | WSFS Financial Corporation |
| **Securities offered:** | 5.375% Fixed-to-Floating Rate Senior Unsecured Notes due 2035. |
| **Principal amount offered:** | $200000000 |
| **Maturity date:** | December 15, 2035, unless previously redeemed. |
| **Issue price:** | 100% plus accrued interest, if any, from and including December 11, 2025, if settlement occurs after that date. |
| **Interest rate:** | 5.375% per annum, from and including December 11, 2025 to, but excluding, December 15, 2030, payable semi-annually in arrears. From and including December 15, 2030 to, but excluding, the maturity date or earlier redemption date, the interest rate shall reset quarterly at an annual floating rate equal to the Benchmark (which is expected to be Three-Month Term SOFR), plus 189 basis points, payable quarterly in arrears. Notwithstanding the foregoing, if the Benchmark is less than zero, the Benchmark shall be deemed to be zero.<br>For each floating rate interest period during the Floating Rate Period (as defined in the section of this prospectus supplement entitled "Description of the Notes") when the Benchmark is Three-Month Term SOFR, "**Three-Month Term SOFR**" means the rate for Term SOFR for a tenor of three months that is published by the Term SOFR Administrator at the Reference Time for any Floating Rate Period, as determined by the Calculation Agent after giving effect to the Three-Month Term SOFR Conventions (each as defined in the section of this prospectus supplement entitled "Description of the Notes").<br>If the Calculation Agent determines on or prior to the relevant Reference Time that a Benchmark Transition Event and its related Benchmark Replacement Date (each as defined in the section of this prospectus supplement entitled "Description of the Notes") have occurred with respect to Three-Month Term SOFR, then the provisions in the section of this prospectus supplement entitled "Description of the Notes—Effect of Benchmark Transition Event," which are referred to herein as the benchmark transition provisions, will thereafter apply to all determinations of the interest rate on the Notes for each floating rate interest period during the Floating Rate Period. In accordance with the benchmark transition provisions, after a Benchmark Transition Event and its related Benchmark |

---

---

| | |
|:---|:---|
|  | Replacement Date have occurred, the interest rate on the Notes for such interest period and all subsequent floating rate interest periods during the Floating Rate Period will be an annual rate equal to the Benchmark Replacement (as defined in the section of this prospectus supplement entitled "Description of the Notes") plus 189 basis points. |
| **Interest payment dates:** | June 15 and December 15 of each year through December 15, 2030 and quarterly thereafter on March 15, June 15, September 15 and December 15 of each year through the maturity date or earlier redemption date. The first interest payment will be made on June 15, 2026, all as more fully described under the section of this prospectus entitled "Description of the Notes—Interest." |
| **Record dates:** | Interest on each Note will be payable to the person in whose name such Note is registered on the 15th calendar day immediately preceding the applicable interest payment date (whether or not a business day). |
| **Optional redemption:** | WSFS may, at its option, beginning with the interest payment date of December 15, 2030 and on any interest payment date thereafter, redeem the Notes issued thereby, in whole or in part, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the date of redemption. The Notes will not be entitled to the benefit of any sinking fund. The Notes will not be subject to repayment at the option of the holder at any time prior to maturity. |
| **Ranking:** | The Notes will be senior unsecured indebtedness of WSFS and rank equally with its other senior unsecured indebtedness and will be effectively subordinated to its secured indebtedness and structurally subordinated to the indebtedness of its subsidiaries. As of September 30, 2025, WSFS had no outstanding secured indebtedness, $148.8 million in senior unsecured indebtedness and our subsidiaries' direct borrowings and deposit liabilities totaled approximately $17.4 billion. |
| **Events of default:** | The Notes will contain events of default, the occurrence of which may result in the acceleration of WSFS's obligations under the Notes in certain circumstances. |
| **Denomination; form:** | WSFS will issue the Notes only in denominations of $1,000 and integrals of $1,000 in excess thereof. The Notes will be evidenced by a global note deposited with the Trustee for the Notes, as custodian for **DTC**. Beneficial interests in the global note will be shown on, and transfers of those beneficial interests can only be made through, records maintained by DTC and its participants. See "Description of the Notes—General" and "—Book-Entry Delivery and Settlement." |
| **Further issuances:** | WSFS may, from time to time, without notice to or consent of the holders, increase the aggregate principal amount of the Notes outstanding by issuing additional Notes in the future with the same terms as the Notes, except for the issue date and offering price, and such additional Notes shall be consolidated with the Notes issued in this offering and form a single series. |

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|:---|:---|
| **Use of proceeds:** | We estimate that the net proceeds to us from the sale of the Notes, after deduction of the estimated underwriting discount and transaction expenses payable by us, will be approximately $196.9 million. We intend to use the net proceeds from this offering, after the payment of offering expenses, to repay $150 million aggregate principal amount of our outstanding 2.75% Fixed-to-Floating Rate Senior Unsecured Notes due 2030 (the "**2030 Notes**"), plus accrued interest, and for general corporate purposes. See "Use of Proceeds." |
| **Trustee:** | U.S. Bank Trust Company, National Association will act as the Trustee under the indenture pursuant to which the Notes will be issued. |
| **Calculation Agent:** | We will appoint a Calculation Agent for the Notes prior to the commencement of the Floating Rate Period. We anticipate being the initial Calculation Agent. |
| **Listing:** | The Notes will not be listed on any national securities exchange or quoted on any automated quotation system. Currently, there is no public trading market for the Notes. |
| **Risk factors:** | Before making a decision to invest in the Notes, you should carefully consider all of the information in this prospectus supplement, the accompanying prospectus and the documents incorporated by reference into this prospectus supplement and the accompanying prospectus. In particular, you should evaluate the section of this prospectus supplement entitled "Risk Factors" beginning on page S-6, as well as the risk factors included in our Annual Report on Form 10-K for the year ended December 31, 2024, which is incorporated by reference herein, to read about the risks that you should consider before making a decision to invest in the Notes. |
| **Governing law:** | The Indenture and the Notes will be governed by the laws of the State of New York. |
| **Conflicts of Interest:** | The Company and Piper Sandler Companies, the parent company of Piper Sandler & Co., an underwriter for this offering, have two 10% or greater shareholders in common. This is deemed a conflict of interest under FINRA Rule 5121. Accordingly, this offering is being made in compliance with the requirements of Rule 5121. Pursuant to Rule 5121, Piper Sandler & Co. will not confirm sales of the Notes to any account over which it exercises discretionary authority without the prior written approval of the customer. |

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**RISK FACTORS**

*An investment in the Notes involves risks. Before deciding to invest in the Notes, you should carefully read and consider the risks described below, together with the other risks and uncertainties in the section entitled "Risk Factors" included under the heading "Part I. Item 1A. Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2024, which is incorporated by reference in this prospectus supplement and accompanying prospectus, as well as the other risks and uncertainties described in the other documents incorporated by reference in this prospectus supplement and the accompanying prospectus. Our business, financial condition or results of operations could be materially adversely affected by any of these risks. The value of the Notes could decline due to any of these risks, and you may lose all or part of your investment. This prospectus supplement also contains forward-looking statements that involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including the risks faced by us described below and elsewhere in this prospectus supplement, the accompanying prospectus and the documents incorporated by reference herein and therein.*

**Risks Related to this Offering and the Notes**

**Although the Notes are "senior notes," they will be effectively subordinated to any secured indebtedness of ours, are not obligations of our subsidiaries and are structurally subordinated to all of the liabilities of our subsidiaries. Effective and structural subordination increases the risk that we will be unable to meet our obligations on the Notes when they mature.**

The Notes are unsecured and therefore will effectively be subordinated to any secured indebtedness we currently have outstanding or may incur in the future, to the extent of the value of the assets securing such indebtedness. As of September 30, 2025, we had no outstanding secured debt. The Indenture does not limit the incurrence of additional indebtedness by us, including indebtedness senior to the Notes, or by our subsidiaries. In the event of a bankruptcy or similar proceeding involving us, any of our assets which serve as collateral for any secured indebtedness will be available to satisfy the obligations under such secured indebtedness before any payments are made on the Notes.

The Notes will be our obligations only, are not obligations of or deposits in WSFS Bank or our other subsidiaries, and are not insured by any government or private agency. The Notes will not be guaranteed by any of our subsidiaries. In addition, the Notes will be structurally subordinated to all indebtedness and existing and future liabilities, including trade payables and lease obligations, of each of our present and future subsidiaries. Our right to participate in any distribution of assets of any of our subsidiaries upon its liquidation or reorganization or otherwise, and thus your ability as a holder of the Notes to benefit indirectly from such distribution, will be subject to the prior claims of preferred equity holders (if any) and creditors of such subsidiary, except to the extent that we may be recognized as a creditor with recognized claims against the subsidiary. This includes WSFS Bank's deposit liabilities. Our present and future subsidiaries may incur additional debt and liabilities in the future, all of which would rank structurally senior to the Notes. As of September 30, 2025, WSFS had no outstanding secured indebtedness, $148.8 million in senior unsecured indebtedness and our subsidiaries' direct borrowings and deposit liabilities totaled approximately $17.4 billion.

**There are limited covenants in the Indenture.**

In addition to our currently outstanding indebtedness and any additional indebtedness we may incur pursuant to this offering, neither we nor any of our subsidiaries are restricted from incurring additional debt or other liabilities, including additional senior debt, under the Indenture. If we incur additional debt or liabilities, our ability to pay our obligations on the Notes could be adversely affected.

Our indebtedness, including the indebtedness we may incur in the future, could have important consequences for the holders of the Notes, including:

&nbsp;&nbsp;&nbsp;&nbsp;· limiting our ability to satisfy our obligations with respect to the Notes;

&nbsp;&nbsp;&nbsp;&nbsp;· increasing our vulnerability to general adverse economic and industry conditions;

&nbsp;&nbsp;&nbsp;&nbsp;· limiting our ability to obtain additional financing to fund future working capital, capital expenditures
and other general corporate requirements;

&nbsp;&nbsp;&nbsp;&nbsp;· requiring a substantial portion of our cash flow from operations for the payment of principal of, and
interest on, our indebtedness and thereby reducing our ability to use our cash flow to fund working capital, capital expenditures and
general corporate requirements;

&nbsp;&nbsp;&nbsp;&nbsp;· limiting our flexibility in planning for, or reacting to, changes in our business and the industry; and

&nbsp;&nbsp;&nbsp;&nbsp;· putting us at a disadvantage compared to competitors with less indebtedness.

In addition, we are not restricted under the Indenture from granting security interests in our assets, except to the extent described in the sections of this prospectus supplement entitled "Description of the Notes—Merger, Consolidation, Sale, Lease or Conveyance" and "Description of the Notes—Certain Covenants," or from paying dividends or issuing or repurchasing securities.

Moreover, the Indenture does not require us to maintain any financial ratios or specific levels of net worth, revenues, income, cash flow or liquidity and, accordingly, does not protect holders of the Notes in the event that we experience material adverse changes in our financial condition or results of operations. You are also not protected under the Indenture in the event of a highly leveraged transaction, reorganization, default under our existing indebtedness, restructuring, merger or similar transaction that may adversely affect you, except to the extent described in the sections of this prospectus supplement entitled "Description of the Notes—Merger, Consolidation, Sale, Lease or Conveyance" and "Description of the Notes—Certain Covenants."

For these reasons, you should not consider the covenants in the Indenture a significant factor in evaluating whether to invest in the Notes.

**Holders of the Notes will have limited rights if there is an event of default.**

For all types of default, including default in the payment of principal or interest on the Notes or in the performance of any of our other obligations under the Notes, the acceleration of the principal amount of the Notes can only be activated by the Trustee or the holders of at least 25% in principal amount of the outstanding Notes.

**WSFS Bank's ability to pay dividends or lend funds to us is subject to regulatory limitations which, to the extent we need, but are not able to, access such funds, may prevent us from making principal and interest payments due on our debt obligations, including our obligations under the Notes.**

The Notes will be exclusively our obligations and not those of our subsidiaries. We are a savings and loan holding company currently regulated by the Board of Governors of the Federal Reserve System ("**Federal Reserve**") and almost all of our operating assets are owned by WSFS Bank. We rely primarily on dividends from WSFS Bank to pay cash dividends to our stockholders, to engage in share repurchase programs and to pay principal and interest on our debt obligations.

The Office of the Comptroller of the Currency ("**OCC**") regulates capital distributions, such as dividends, by WSFS Bank directly or indirectly to us, including dividend payments. As the subsidiary of a savings and loan association holding company, WSFS Bank must file an application or notice with the OCC prior to a proposed capital distribution. In addition, as the subsidiary of a savings and loan holding company, WSFS Bank must file a notice with and not receive an objection from the Federal Reserve before declaring a dividend.

In addition, WSFS Bank may not pay dividends to us if, after paying those dividends, it would fail to meet the required minimum levels under risk-based capital guidelines and the minimum leverage and tangible capital ratio requirements. Under the prompt corrective action provisions of the Federal Deposit Insurance Act ("**FDIA**"), an insured depository institution such as WSFS Bank is prohibited from making a capital distribution, including the payment of dividends, if, after making such distribution, the institution would become "undercapitalized" (as such term is used in the FDIA). Payment of dividends by WSFS Bank also may be restricted at any time at the discretion of the OCC if it deems the payment to constitute an unsafe or unsound banking practice. Based on WSFS Bank's current financial condition, we do not expect the regulatory limitations will have any impact on our ability to obtain dividends from WSFS Bank. However, there can be no assurance that WSFS Bank will be able to pay dividends to WSFS at past levels, or at all, in the future.

In addition to regulatory restrictions on the payment of dividends, WSFS Bank is subject to certain restrictions imposed by federal law on any extensions of credit it makes to its affiliates and on investments in stock or other securities of its affiliates. We are considered an affiliate of WSFS Bank. These restrictions generally prevent affiliates of WSFS Bank, including us, from borrowing from WSFS Bank, unless certain types of collateral secure the extension of credit and the credit is extended on arms' length terms. Federal law limits the aggregate amount of loans to and investments in any single affiliate to 10% of WSFS Bank's capital stock and surplus and also limits the aggregate amount of loans to and investments in all affiliates to 20% of WSFS Bank's capital stock and surplus.

**We may not be able to generate sufficient cash to service our debt obligations, including our obligations under the Notes.**

Our ability to make payments on and to refinance our indebtedness, including the Notes, will depend on our financial and operating performance, which is subject to prevailing economic and competitive conditions and certain financial, business and other factors beyond our control. We may be unable to maintain a level of cash flows from operating activities sufficient to permit us to pay the principal, premium, if any, and interest on our indebtedness, including the Notes.

If our cash flows and capital resources are insufficient to fund our debt service obligations, we may be unable to provide new loans or other products or to fund our obligations to existing customers and otherwise implement our business plans, or to sell assets, seek additional capital or restructure or refinance our indebtedness, including the Notes. As a result, we may be unable to meet our scheduled debt service obligations. In the absence of sufficient operating results and resources, we could face substantial liquidity problems and might be required to dispose of material assets or operations to meet our debt service and other obligations. We may not be able to consummate those dispositions of assets or to obtain the proceeds that we could realize from them and these proceeds may not be adequate to meet any debt service obligations then due.

**The Notes will not be insured or guaranteed by the FDIC or any other governmental agency or instrumentality.**

The Notes will not be savings accounts, deposits or other obligations of any of our bank or non-bank subsidiaries and will not be insured or guaranteed by the FDIC, or any other governmental agency or instrumentality.

**The secondary trading market for notes linked to Three-Month Term SOFR may be limited.**

The Notes will have no established trading market when issued, and an established trading market may never develop or may not be very liquid. Market terms for debt securities linked to Three-Month Term SOFR (such as the Notes) such as the applicable spread may evolve over time and, as a result, trading prices of the Notes may be lower than those of later-issued debt securities that are linked to Three-Month Term SOFR. Similarly, if Three-Month Term SOFR does not continue to be widely used in debt securities similar to the Notes, the trading price of the Notes may be lower than that of debt securities linked to rates that are more widely used. Investors in the Notes may not be able to sell such Notes at all or may not be able to sell such Notes at prices that will provide a yield comparable to similar investments that have a more developed secondary market. Further, investors wishing to sell the Notes in the secondary market during the floating rate period will have to make assumptions as to the future performance of Three-Month Term SOFR during the applicable floating rate period in which they intend the sale to take place. As a result, investors may suffer from increased pricing volatility and market risk.

**An active trading market for the Notes may not develop.**

The Notes constitute a new issue of securities for which there is no existing market. We do not intend to apply for listing of the Notes on any securities exchange or for quotation of the Notes in any automated dealer quotation system. We cannot provide you with any assurance as to whether a trading market for the Notes will develop, the ability of holders of the Notes to sell their Notes or the prices at which holders may be able to sell their Notes. The underwriters have advised us that they currently intend to make a market in the Notes. The underwriters, however, are not obligated to do so, and any market-making with respect to the Notes may be discontinued at any time without notice. You should also be aware that there may be a limited number of buyers when you decide to sell your Notes. This may affect the price that you receive for your Notes or your ability to sell your Notes at all.

**If a trading market for the Notes develops, changes in the debt markets, among others, could adversely affect the market price of the Notes.**

The Notes constitute a new issue of securities for which no established trading market exists. Consequently, it may be difficult for you to sell your Notes. We do not intend to list the Notes on any securities exchange or to apply to have the Notes quoted on any automated dealer quotation system. A market for the Notes may not develop, and if such a market does develop, such market may not continue to exist or provide liquidity for the Notes following the offering or provide a market at prices for the Notes acceptable to investors. In addition, the liquidity of the trading market in the Notes and the market price quoted for the Notes may be adversely affected by changes in the overall market for this type of security and by changes in our financial performance or prospects or in the prospects for companies in our industry generally. If an active trading market does not develop or is not maintained, the market price and liquidity of the Notes may be adversely affected. In that case you may not be able to sell your Notes at a particular time or you may not be able to sell your Notes at a favorable price.

Many factors affect the trading market for, and the trading value of, the Notes. These factors include: the time remaining to the maturity of the Notes; the ranking of the Notes; the redemption features of the Notes; the outstanding amount of Notes with terms identical to the Notes offered hereby; the prevailing interest rates being paid by other companies similar to us; our financial condition, financial performance and future prospects; the level, direction and volatility of market interest rates generally; general economic conditions of the capital markets in the United States; changes in national, regional, and local economies, due to global events such as international military conflicts, international trade disputes, a foreign debt crisis, foreign currency volatility, or due to domestic issues, such as government policies and regulations, tariffs, energy prices, market dynamics, general economic contractions, rising interest rates, inflation, unemployment, or limited growth in consumer income or spending; and other financial, political, regulatory, and judicial events that affect the capital markets generally. The condition of the financial markets and prevailing interest rates have fluctuated significantly in the past and are likely to fluctuate in the future. Such fluctuations could have an adverse effect on the price of the Notes.

**We may redeem the Notes before maturity, and you may be unable to reinvest the proceeds at the same or a higher rate of return.**

We may redeem all or a portion of the Notes as described in the section of this prospectus supplement entitled "Description of the Notes—Optional Redemption." It is more likely we will redeem the Notes after December 15, 2030 if the interest rate on them is higher than that which would be payable on one or more other forms of borrowing. If we redeem the Notes prior to their stated maturity date, holders of the Notes may not be able to invest in other securities with a similar level of risk that yield as much interest as the Notes.

**The amount of interest payable on the Notes will vary from interest period to interest period after December 15, 2030.**

As the interest rate of the Notes during the Floating Rate Period will be calculated based on the Benchmark (which is expected to be Three-Month Term SOFR from December 15, 2030 through the maturity date or earlier redemption date and Three-Month Term SOFR is a floating rate (each subject to the provisions described in the section of this prospectus supplement entitled "Description of the Notes")), the interest rate on the Notes will vary after December 15, 2030 at an annual floating rate equal to Three-Month Term SOFR, as determined quarterly on the determination date for the applicable interest period, plus 189 basis points. Notwithstanding the foregoing, if the Benchmark is less than zero, the Benchmark shall be deemed to be zero. Because the Benchmark is a floating rate, the interest rate on the Notes will vary from floating rate interest period to floating rate interest period after December 15, 2030. The interest rate that is determined on the relevant determination date will apply to the entire interest period following such determination date, even if the Benchmark increases during that period.

Floating rate notes bear additional significant risks not associated with fixed rate debt securities. These risks include fluctuation of the interest rates following December 15, 2030 and the possibility that you will receive an amount of interest that is lower than anticipated. We have no control over a number of matters that may impact prevailing interest rates, including, without limitation, economic, financial, and political events that are important in determining the existence, magnitude, and longevity of market volatility, and other risks and their impact on the value of, or payments made on, the Notes. In recent years, interest rates have been volatile, and that volatility may occur in the future**.**

**Any failure of Secured Overnight Funding Rate ("SOFR") to maintain market acceptance could adversely affect holders of the Notes.**

The interest rate during the Floating Rate Period will be determined using Three-Month Term SOFR (unless a Benchmark Transition Event and its related Benchmark Replacement Date occur). SOFR may fail to maintain market acceptance. SOFR was developed for use in certain U.S. dollar derivatives and other financial contracts as an alternative to U.S. Dollar LIBOR in part because it is considered to be a good representation of general funding conditions in the overnight U.S. Treasury bilateral U.S. Treasury repurchase agreement ("repo") market. However, as a rate based on transactions secured by U.S. Treasury securities, it does not measure bank-specific credit risk and, as a result, is less likely to correlate with the unsecured short-term funding costs of banks. This may mean that market participants would not consider SOFR to be a comparable substitute or successor for all of the purposes for which U.S. Dollar LIBOR historically has been used (including, without limitation, as a representation of the unsecured short-term funding costs of banks), which may, in turn, lessen its market acceptance. Any failure of SOFR to maintain market acceptance could adversely affect the yield on, value of, and market for the Notes.

**Investors should not rely on indicative or historical data concerning SOFR.**

The interest rate during the Floating Rate Period will be determined using Three-Month Term SOFR (unless a Benchmark Transition Event and its related Benchmark Replacement Date occur with respect to Three-Month Term SOFR, in which case the rate of interest will be based on the next-available Benchmark Replacement). In the following discussion of SOFR, when we refer to the Notes, we mean the Notes at any time during the period when the interest rate on the Notes is or will be determined based on SOFR, including Three-Month Term SOFR.

SOFR is published by the Federal Reserve Bank of New York ("**FRBNY**") and is intended to be a broad measure of the cost of borrowing cash overnight collateralized by U.S. Treasury securities. FRBNY reports that SOFR includes all trades in the Broad General Collateral Rate, plus repo transactions cleared through the delivery-versus-payment service offered by the Fixed Income Clearing Corporation (the "**FICC**"), a subsidiary of DTC. SOFR is filtered by FRBNY to remove a portion of the foregoing transactions considered to be "specials." According to FRBNY, "specials" are repos for specific-issue collateral which take place at cash-lending rates below those for general collateral repos because cash providers are willing to accept a lesser return on their cash in order to obtain a particular security.

FRBNY reports that SOFR is calculated as a volume-weighted median of transaction-level tri-party repo data collected from The Bank of New York Mellon, which currently acts as the clearing bank for the tri-party repo market, as well as General Collateral Finance Repo transaction data and data on bilateral U.S. Treasury repo transactions cleared through the FICC's delivery-versus-payment service.

FRBNY states that it obtains information from DTC Solutions LLC, an affiliate of DTC. FRBNY currently publishes SOFR daily on its website. FRBNY states on its publication page for SOFR that use of SOFR is subject to important disclaimers, limitations, and indemnification obligations, including that FRBNY may alter the methods of calculation, publication schedule, rate revision practices, or availability of SOFR at any time without notice.

On July 29, 2021, the Alternative Reference Rates Committee convened by the Federal Reserve and FRBNY formally recommended the use of the CME Group's computation of forward-looking SOFR term rates, which are calculated by the CME Group based on SOFR futures. It is currently anticipated that Three-Month Term SOFR, for purposes of the Notes, will be based on the CME Group's forward-looking SOFR term rates with a tenor of three months. FRBNY started publishing SOFR in April 2018. FRBNY has also started publishing historical indicative SOFRs dating back to 2014, although such historical indicative data inherently involves assumptions, estimates and approximations. Investors should not rely on such historical indicative data or on any historical changes or trends in SOFR as an indicator of the future performance of SOFR.

**SOFR may be more volatile than other benchmark or market rates.**

Since the initial publication of SOFR, daily changes in the rate have, on occasion, been more volatile than daily changes in comparable benchmark or market rates, and SOFR over time may bear little or no relation to the historical actual or historical indicative data. In addition, the return on and value of the Notes may fluctuate more than floating rate securities that are linked to other rates.

**Changes in SOFR could adversely affect the amount of interest that accrues on the Notes and the trading prices for Notes.**

Because SOFR is published by FRBNY based on data received from other sources, we have no control over its determination, calculation, or publication. There is no assurance that SOFR will not be discontinued or fundamentally altered in a manner that is materially adverse to the interests of investors in the Notes. If the manner in which SOFR is calculated is changed, that change may result in a reduction in the amount of interest that accrues on the Notes during the Floating Rate Period, which may adversely affect the trading prices of the Notes. Further, if the Benchmark on the Notes during the Floating Rate Period on any determination date declines to zero or becomes negative, the Benchmark will be deemed to equal zero. In addition, once the Benchmark for the Notes for each floating rate interest period during the Floating Rate Period is determined by the Calculation Agent on the determination date, interest on the Notes shall accrue at such Benchmark plus 189 basis points per annum for the applicable floating rate interest period and will not be subject to change during such interest period. There is no assurance that changes in SOFR will not have a material adverse effect on the yield on, value of, and market for the Notes.

**Any Benchmark Replacement may not be the economic equivalent of Three-Month Term SOFR.**

Under the benchmark transition provisions of the Notes, if the Calculation Agent determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to Three-Month Term SOFR, then the floating interest rate on the Notes for such interest period and all subsequent floating rate interest periods during the Floating Rate Period will be determined using the next-available Benchmark Replacement (which may include a related Benchmark Replacement Adjustment) plus 189 basis points. However, the Benchmark Replacement may not be the economic equivalent of Three-Month Term SOFR. For example, Compounded SOFR, the first-available Benchmark Replacement, is the compounded average of the daily SOFR calculated in arrears, while Three-Month Term SOFR is intended to be a forward-looking rate with a tenor of three months. In addition, very limited market precedent exists for securities that use Compounded SOFR as the rate basis, and the method for calculating Compounded SOFR in those precedents varies.

**The implementation of Benchmark Replacement Conforming Changes could adversely affect holders of the Notes.**

Under the benchmark transition provisions of the Notes, if Three-Month Term SOFR has been discontinued or if a particular Benchmark Replacement or Benchmark Replacement Adjustment cannot be determined, then the next-available Benchmark Replacement or Benchmark Replacement Adjustment will apply. These replacement rates and adjustments may be selected or formulated by: (i) the Relevant Governmental Body determining Compounded SOFR, (ii) the Relevant Governmental Body that selects or recommends the alternative rate for the then-current Benchmark for the applicable Corresponding Tenor (as defined in the section of this prospectus entitled "Description of the Notes"), (iii) the International Swaps and Derivatives Association ("**ISDA**"), or (iv) in certain circumstances, the Calculation Agent (which will initially be the Company). In addition, the benchmark transition provisions expressly authorize the Calculation Agent to make certain changes, which are defined in the terms of the Notes as "**Benchmark Replacement Conforming Changes**," with respect to, among other things, the determination of floating rate interest periods, and the timing and frequency of determining rates and making payments of interest. The application of a Benchmark Replacement and Benchmark Replacement Adjustment, and any implementation of Benchmark Replacement Conforming Changes, could result in adverse consequences to the amount of interest that accrues on the Notes during any floating rate interest period during the Floating Rate Period, which could adversely affect the yield on, value of, and market for the Notes. Further, there is no assurance that the characteristics of any Benchmark Replacement will be similar to the then-current Benchmark that it is replacing or that any Benchmark Replacement will produce the economic equivalent of the then-current Benchmark that it is replacing.

**We anticipate being the initial Calculation Agent and may have economic interests adverse to the interests of the holders of the Notes.**

The Calculation Agent will determine the interest rate during the Floating Rate Period. We anticipate being the initial Calculation Agent for the Notes, and we cannot assure you that we will appoint an independent third-party Calculation Agent at any time. Any exercise of discretion by us under the terms of the Notes, including, without limitation, any discretion exercised by us or by an affiliate acting as Calculation Agent, could present a conflict of interest. In making the required determinations, decisions, and elections, we or an affiliate of ours acting as Calculation Agent may have economic interests that are adverse to the interests of the holders of the Notes, and those determinations, decisions, or elections could have a material adverse effect on the yield on, value of, and market for the Notes. All determinations, decisions, or elections by us, or by us or an affiliate acting as Calculation Agent under the terms of the Notes will be conclusive and binding absent manifest error.

**You will have no rights against the publishers of the Benchmark.**

You will have no rights against any persons publishing Benchmarks, even though the amount you receive on each interest payment date after December 15, 2030 will depend upon the level of the Benchmark quoted for each floating rate interest period. The publishers of any Benchmark are not in any way involved in this offering and have no obligations relating to the Notes or the holders of the Notes.

**Changes in our credit ratings may adversely affect your investment in the Notes.**

The credit ratings of our indebtedness are an assessment by rating agencies of our ability to pay our debts when due. These ratings are not recommendations to purchase, hold or sell the Notes, inasmuch as the ratings do not comment as to market price or suitability for a particular investor, are limited in scope, and do not address all material risks relating to an investment in the Notes, but rather reflect only the view of each rating agency at the time the rating is issued. The ratings are based on current information furnished to the ratings agencies by us and information obtained by the ratings agencies from other sources. An explanation of the significance of such rating may be obtained from such rating agency. There can be no assurance that such credit ratings will remain in effect for any given period of time or that such ratings will not be lowered, suspended or withdrawn entirely by the rating agencies, if, in each rating agency's judgment, circumstances so warrant.

One or more rating agencies regularly evaluate us and WSFS Bank, and ratings of our indebtedness are based on a number of factors, including financial strength, as well as factors not entirely within our control, such as conditions affecting the financial services industry generally. In light of these reviews and the continued focus on the financial services industry generally, we may not be able to maintain our current credit ratings. Ratings downgrades by a rating agency could have a significant and immediate impact on our funding and liquidity through cash obligations, reduced funding capacity and collateral triggers. A reduction in our credit ratings could also increase our borrowing costs and limit access to the capital markets.

Downgrades in the credit or financial strength ratings assigned to the counterparties with whom we transact could create the perception that such counterparties will adversely impact our financial condition because of potential future defaults. Additionally, we could be adversely affected by a general, negative perception of financial institutions caused by the downgrade of other financial institutions. Accordingly, ratings downgrades for other financial institutions could affect the market price of our stock and could limit our access to or increase our cost of capital.

**Our credit ratings may not reflect all risks of an investment in the Notes.**

The credit ratings assigned to the Notes may not reflect the potential impact of all risks related to structure and other factors on any trading market for, or trading value of, the Notes. In addition, real or anticipated changes in our credit ratings will generally affect the trading market for, or the trading value of, the Notes. Accordingly, you should consult your own financial and legal advisors as to the risks entailed by an investment in the Notes and the suitability of investing in the Notes in light of your particular circumstances.

**Our Board of Directors and management will have broad discretion in allocating the net proceeds of the offering. Our failure to effectively utilize such net proceeds may have an adverse effect on our financial performance.**

We intend to use the net proceeds from this offering as set forth under "Use of Proceeds." However, we are not required to apply any portion of the net proceeds of this offering for any particular purpose, and our management could use the proceeds for purposes other than those contemplated or exemplified at the time of this offering. Accordingly, our Board of Directors and management will have broad discretion in the application of the net proceeds from this offering, and you will be relying on the judgment of our management regarding the application of these proceeds. You will not have the opportunity, as part of your investment decision, to assess whether we are using the proceeds appropriately. Our management might not apply our net proceeds in ways that ultimately increase the value of your investment or in a manner that you otherwise agree with. If we do not invest or apply the net proceeds from this offering in ways that enhance stockholder value, we may fail to achieve expected financial results, which could have an adverse effect on our financial performance. See "Use of Proceeds."

**USE OF PROCEEDS**

We estimate that the net proceeds of this offering will be approximately $196.9 million after deducting the underwriting discount and transaction expenses payable by us.

We intend to use the net proceeds from this offering to repay $150 million aggregate principal amount of our outstanding 2030 Notes, plus accrued interest, and for general corporate purposes.

We delivered a conditional redemption notice on November 18, 2025, with such redemption to be completed on December 15, 2025, contingent on the deposit by us of certain moneys with the trustee to effect the redemption of the outstanding 2030 Notes.

The 2030 Notes currently bear interest at a fixed rate per annum equal to 2.75%, currently payable semiannually in arrears on June 15 and December 15 of each year. The 2030 Notes are scheduled to mature on December 15, 2030. We may, at our option, beginning on December 15, 2025, and on any interest payment date thereafter redeem the 2030 Notes, in whole or in part, at a redemption price equal to 100% of the principal amount of the 2030 Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. This prospectus supplement does not constitute a notice of redemption with respect to the 2030 Notes.

**CAPITALIZATION**

The following table sets forth our capitalization, on a consolidated basis, as of September 30, 2025, on an actual basis as of that date and as adjusted to give effect to this offering, taking into account the expected net proceeds of such offering to us (after deducting the underwriting discount and estimated offering expenses payable by us) and the expected use of proceeds of such offering, including the repayment of the 2030 Notes.

You should read this table in conjunction with the more detailed information, including our consolidated financial statements and related notes, included and incorporated by reference in this prospectus supplement.

---

| | | |
|:---|:---|:---|
|  | **As of September 30, 2025** | **As of September 30, 2025** |
| **(Dollars in thousands except share data)** | **Actual** | **As Adjusted** |
| Cash and due from banks | $1199540 | $1247616 |
| **Debt** |  |  |
| 2030 Notes | $148804 | $— |
| Notes offered hereby |  | 200000 |
| Federal Home Loan Bank advances |  |  |
| Trust preferred borrowings | 90981 | 90981 |
| Other borrowed funds | 15314 | 15314 |
| Total debt | $255099 | $306295 |
| **Stockholders' Equity** |  |  |
| Common stock, $0.01 par value (90,000,000 shares authorized; 76,444,957 shares issued) | 764 | 764 |
| Capital in excess of par value | 2002681 | 2002681 |
| Accumulated other comprehensive income | (474689) | (474689) |
| Retained earnings | 2058283 | 2058283 |
| Treasury stock at cost (21,017,515 shares) | (833766) | (833766) |
| Total stockholders' equity of WSFS | 2753273 | 2753273 |
| Noncontrolling interest | (10492) | (10492) |
| Total stockholders' equity | $2742781 | $2742781 |
| Total capitalization | $2997880 | $3049076 |

---

**DESCRIPTION OF THE NOTES**

*The 5.375% Fixed-to-Floating Rate Senior Unsecured Notes due December 15, 2035 offered by this prospectus supplement, referred to in this section as the Notes, are a series of "senior debt securities" of WSFS. The Notes will be issued under an indenture (the "**Base Indenture**"), dated August 27, 2012, between us and U.S. Bank Trust Company, National Association, as trustee (the "**Trustee**" or "**U.S. Bank**"), as supplemented by a Fourth Supplemental Indenture (the "**Fourth Supplemental Indenture**" and, together with the Base Indenture, as supplemented, the "**Indenture**") between us and U.S. Bank, to be dated on or about December 11, 2025, with respect to the Notes.*

*Capitalized terms used but not defined in this section have the meanings given to those terms in the Indenture. You should read the Indenture and the Notes because they, and not this description, define your rights as holders of the Notes.*

*In this section "Description of the Notes," the "**Company**," "**WSFS**," "we," "our," or "us" refer only to WSFS Financial Corporation and not to any of its subsidiaries.*

**General**

The Notes will be senior unsecured indebtedness of WSFS and will be issued as a separate series of senior debt securities under the Indenture in an initial aggregate principal amount of $200,000,000 and will mature at 100% of their principal amount on December 15, 2035 (the "**Maturity Date**"). Except as described below under "—Book-Entry Delivery and Settlement," the Notes will be issued in book-entry-only form, represented by a global note registered in the name of Cede & Co, as the nominee of DTC, and in denominations of $1,000 and integral multiples of $1,000 in excess thereof. Currently, there is no public market for the Notes and we do not intend to apply for the listing of the Notes on any securities exchange. The Notes will be issued pursuant to the Indenture.

We may, from time to time, without notice to or the consent of any of the holders of the Notes, create and issue additional senior debt securities so that those additional senior debt securities would form a single series with the Notes (the "same-series debt securities"), or that would form a new series of senior debt securities. Such same-series debt securities would have the same terms as the Notes in all respects, except for the issue date, the issue price, the interest payment accruing prior to the issue date, and the initial interest payment date. The Notes offered by this prospectus supplement and any same-series debt securities would rank equally and ratably and would have the same terms as to status, redemption or otherwise as the Notes, and be treated as a single series of debt securities for all purposes under the Indenture.

The registered holder of a Note will be treated as the owner of it for all purposes. Only registered holders have rights under the Indenture. Payment of the principal of, and interest on, the Notes represented by a global note registered in the name of or held by DTC or its nominee will be made in immediately available funds to DTC or its nominee, as the case may be, as the registered owner and holder of such global note. See the section "—Book-Entry Delivery and Settlement" in this prospectus supplement for more information.

The Indenture contains no covenants or restrictions restricting the incurrence of debt by us or by our subsidiaries. The Indenture contains no financial covenants and does not restrict us from paying dividends or issuing or repurchasing other securities, and does not contain any provision that would provide protection to the holders of the Notes against a sudden and dramatic decline in credit quality resulting from a merger, takeover, recapitalization or similar restructuring or any other event involving us or our subsidiaries that may adversely affect our credit quality, except to the extent described under the headings "—Merger, Consolidation, Sale, Lease or Conveyance" and "—Certain Covenants" below.

The Notes will not be subject to, or entitled to the benefits of, a sinking fund or repurchase by us at the option of the holders. In addition, the Notes will not be convertible into, or exchangeable for, any other securities. Payment of principal on the Notes may be accelerated in the case of certain events. See "—Events of Default; Waiver."

The Notes will not be savings accounts, deposits or other obligations of any of our subsidiaries and are not insured or guaranteed by the FDIC or any other governmental agency or instrumentality.

We may from time to time purchase the Notes in the open market or otherwise.

**Interest**

The Notes will bear interest at a fixed rate of 5.375% per annum from and including December 11, 2025, to but excluding December 15, 2030 (the "**Fixed Rate Period**"). During the Fixed Rate Period, interest on the Notes will be payable semi-annually in arrears on and of each year, commencing on June 15, 2026 (each such date a "**Fixed Rate Interest Payment Date**"). The last Fixed Rate Interest Payment Date will be December 15, 2030. The interest payable during the Fixed Rate Period will be paid to each holder in whose name a Note is registered at the close of business on and immediately preceding the applicable Fixed Rate Interest Payment Date.

From and including December 15, 2030 to but excluding the Maturity Date or earlier redemption date (the "**Floating Rate Period**") the Notes will bear interest at a floating rate per annum, reset quarterly, equal to the Benchmark (which is expected to be Three-Month Term SOFR) plus a spread of 189 basis points.

For each quarterly interest period during the Floating Rate Period, interest will be payable quarterly in arrears on March 15, June 15, September 15 and December 15 of each year through the Maturity Date or earlier redemption date (each such date, a "**Floating Rate Interest Payment Date**," together with a "**Fixed Rate Interest Payment Date**," an "**Interest Payment Date**"). The first Floating Rate Interest Payment Date for the Floating Rate Period will be March 15, 2031. Notwithstanding the foregoing, if the Benchmark is less than zero, the Benchmark shall be deemed to be zero. The interest payable during the Floating Rate Period will be paid to each holder in whose name a Note is registered at the close of business on the March 1, June 1, September 1 and December 1 immediately preceding the applicable Floating Rate Interest Payment Date.

For the purpose of calculating the interest on the Notes for each interest period during the floating rate period when the Benchmark is Three-Month Term SOFR, "**Three-Month Term SOFR**" means the rate for Term SOFR for a tenor of three months that is published by the Term SOFR Administrator at the Reference Time for any interest period, as determined by the Calculation Agent after giving effect to the Three-Month Term SOFR Conventions. We will act as the initial Calculation Agent. All percentages used in or resulting from any calculation of Three-Month Term SOFR will be rounded, if necessary, to the nearest one-hundred-thousandth of a percentage point, with 0.000005% rounded up to 0.00001%.

Interest will be calculated on the basis of a 360-day year consisting of twelve 30-day months during the Fixed Rate Period and on the basis of a 360-day year and the actual number of days elapsed during the Floating Rate Period. Dollar amounts resulting from that calculation will be rounded to the nearest cent, with one-half cent being rounded upward. Interest on the Notes, subject to certain exceptions, will accrue during the applicable interest period. When we use the term "interest period," we mean the period from and including the immediately preceding Interest Payment Date in respect of which interest has been paid or duly provided for or, if no interest has been paid or duly provided for, from and including the date of issuance of the Notes to, but excluding, the applicable Interest Payment Date or the Maturity Date or date of earlier redemption, if applicable. If a Fixed Rate Interest Payment Date or the Maturity Date falls on a day that is not a business day, then the interest payment or the payment of principal and interest at maturity will be paid on the next succeeding business day, but the payments made on such dates will be treated as being made on the date that the payment was first due and the holders of the Notes will not be entitled to any further interest or other payments. If a Floating Rate Interest Payment Date falls on a day that is not a business day, then such Floating Rate Interest Payment Date will be postponed to the next succeeding business day unless such day falls in the next succeeding calendar month, in which case such Floating Rate Interest Payment Date will be accelerated to the immediately preceding business day, and, in each such case, the amounts payable on such business day will include interest accrued to, but excluding, such business day. The term "**business day**" means any day other than a Saturday, a Sunday or a day on which banking institutions in the City of New York or the place for payment are authorized by law, regulation or executive order to remain closed.

Interest on the Notes will be payable to the person in whose name such Note is registered on the fifteenth day immediately preceding the applicable Interest Payment Date, whether or not such day is a business day. Any interest which is payable, but is not punctually paid or duly provided for, on any interest payment date shall cease to be payable to the holder on the relevant record date by virtue of having been a holder on such date, and such defaulted interest may be paid by us to the person in whose name the Notes are registered at the close of business on a special record date for the payment of defaulted interest, or in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed. However, interest that is paid on the Maturity Date will be paid to the person to whom the principal is payable. Interest will be payable by wire transfer in immediately available funds in U.S. dollars to DTC or its nominee or, at our option in the event the Notes are not represented by global notes, by check mailed to the address of the person specified for payment in the preceding sentences.

The following definitions apply to the expected Benchmark of Three-Month Term SOFR:

"**Benchmark**" means Three-Month Term SOFR; provided that if the Calculation Agent determines on or prior to the Reference Time that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to Three-Month Term SOFR or the then-current Benchmark, then "Benchmark" means the applicable Benchmark Replacement.

"**Federal Reserve Bank of New York's Website**" means the website of the Federal Reserve Bank of New York at http://www.newyorkfed.org, or any successor source. The foregoing Internet website is an inactive textual reference only, meaning that the information contained on the website is not part of this prospectus supplement or the accompanying prospectus or incorporated by reference herein or therein.

"**Reference Time**" with respect to any determination of the Benchmark means (i) if the Benchmark is Three-Month Term SOFR, the date that is two (2) U.S. Government Securities Business Days prior to the start of the relevant Floating Rate Period, or such other time determined by the Calculation Agent after giving effect to the Three-Month Term SOFR Conventions, and (ii) if the Benchmark is not Three-Month Term SOFR, the time determined by the Calculation Agent after giving effect to the Benchmark Replacement Conforming Changes.

"**Relevant Governmental Body**" means the Federal Reserve and/or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Federal Reserve and/or the Federal Reserve Bank of New York or any successor thereto.

"**SOFR**" means the secured overnight financing rate published by the Federal Reserve Bank of New York, as the administrator of the Benchmark (or a successor administrator), on the Federal Reserve Bank of New York's website.

"**Term SOFR**" means the forward-looking term rate based on SOFR that has been selected or recommended by the Relevant Governmental Body.

"**Term SOFR Administrator**" means any entity designated by the Relevant Governmental Body as the administrator of Term SOFR (or a successor administrator).

"**Three-Month Term SOFR**" means the rate for Term SOFR for a tenor of three months that is published by the Term SOFR Administrator at the Reference Time for any Floating Rate Period, as determined by the Calculation Agent after giving effect to the Three-Month Term SOFR Conventions. All percentages used in or resulting from any calculation of Three-Month Term SOFR shall be rounded, if necessary, to the nearest one-hundred-thousandth of a percentage point, with 0.000005% rounded up to 0.00001%.

"**Three-Month Term SOFR Conventions**" means any determination, decision or election with respect to any technical, administrative or operational matter (including with respect to the manner and timing of the publication of Three-Month Term SOFR, or changes to the definition of "interest period," timing and frequency of determining Three-Month Term SOFR with respect to each interest period and making payments of interest, rounding of amounts or tenors, and other administrative matters) that the Calculation Agent decides may be appropriate to reflect the use of Three-Month Term SOFR as the Benchmark in a manner substantially consistent with market practice (or, if the Calculation Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Calculation Agent determines that no market practice for the use of Three-Month Term SOFR exists, in such other manner as the Calculation Agent determines is reasonably necessary).

"**U.S. Government Securities Business Day**" means any day except for a Saturday, Sunday or a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in U.S. government securities.

The terms "**Benchmark Replacement**," "**Benchmark Replacement Conforming Changes**," "**Benchmark Replacement Date**," "**Benchmark Transition Event**" and "**Corresponding Tenor**" and have the meanings set forth below under the heading "—Effect of Benchmark Transition Event."

Notwithstanding the foregoing paragraphs related to the determination of interest, if the Calculation Agent determines on or prior to the relevant Reference Time that a Benchmark Transition Event and its related Benchmark Replacement Date (each as defined below) have occurred with respect to Three-Month Term SOFR, then the provisions set forth below under the heading "—Effect of Benchmark Transition Event," which we refer to as the "**Benchmark Transition Provisions**," will thereafter apply to all determinations of the interest rate on the Notes for each interest period during the Floating Rate Period. In accordance with the Benchmark Transition Provisions, after a Benchmark Transition Event and its related Benchmark Replacement Date have occurred, the interest rate on the Notes for each interest period during the Floating Rate Period will be an annual rate equal to the Benchmark Replacement plus 189 basis points.

Absent manifest error, the Calculation Agent's determination of the interest rate for an interest period for the Notes will be final and binding on you, the Trustee and us. The Trustee shall have no duty to confirm or verify any such calculation. By its acquisition of the Notes, each holder of Notes (including, for the avoidance of doubt, each beneficial owner) will acknowledge, accept, consent to and agree to be bound by our and the Calculation Agent's determination of the interest rate for each Floating Rate Period, including our and its determination of any Benchmark Replacement Conforming Changes, Benchmark Replacement Date, Benchmark Replacement, Benchmark Replacement Adjustment, and Benchmark Transition Event, including as may occur without any prior notice from us or the Calculation Agent and without the need for us or it to obtain any further consent from any holder. The Calculation Agent's determination of any interest rate, and its calculation of interest payments for any period, will be maintained on file at the Calculation Agent's principal offices, will be made available to any holder of the Notes upon request and will be provided to the Trustee.

If the then-current Benchmark is Three-Month Term SOFR, the Calculation Agent will have the right to establish the Three-Month Term SOFR Conventions, and if any of the foregoing provisions concerning the calculation of the interest rate and interest payments during the Floating Rate Period are inconsistent with any of the Three-Month Term SOFR Conventions determined by the Calculation Agent, then the relevant Three-Month Term SOFR Conventions will apply. Furthermore, if the Calculation Agent determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred at any time when any of the Notes are outstanding, then the foregoing provisions concerning the calculation of the interest rate and interest payments during the Floating Rate Period will be modified in accordance with the Benchmark Transition Provisions.

The Trustee will have no responsibility for the Three-Month Term SOFR Conventions, selection of an alternative reference rate to Three-Month Term SOFR, determination or calculation of a Benchmark Replacement, or determination of whether a Benchmark Transition Event or Benchmark Replacement Date has occurred. The Trustee may rely conclusively on all notices from us or the Calculation Agent regarding any Benchmark or Benchmark Replacement, including, without limitation, in regards to Three-Month Term SOFR Conventions, a Benchmark Transition Event, Benchmark Replacement Date, and Benchmark Replacement Conforming Changes, and the Trustee will not be responsible or liable for the actions, omissions, failure or delay in performance by the Calculation Agent. The Trustee may conclusively rely upon determinations made by the Calculation Agent and on certificates, opinions or other documents furnished to it under the Indenture and will have no responsibility to confirm or investigate the accuracy of mathematical calculations or other facts stated therein. The Trustee will have no responsibility for monitoring our compliance with any of the covenants under the Indenture.

**Effect of Benchmark Transition Event**

*Benchmark Replacement*. If the Calculation Agent determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred on or prior to the Reference Time in respect of any determination of the Benchmark on any date, then the Benchmark Replacement will replace the then-current Benchmark for all purposes relating to the Notes during the Floating Rate Period in respect of such determination on such date and all determinations on all subsequent dates.

*Benchmark Replacement Conforming Changes*. In connection with the implementation of a Benchmark Replacement, the Calculation Agent will have the right to make Benchmark Replacement Conforming Changes from time to time.

*Certain Defined Terms*. As used herein:

"**Benchmark Replacement**" means the Interpolated Benchmark with respect to the then-current Benchmark, plus the Benchmark Replacement; provided that if (a) the Calculation Agent cannot determine the Interpolated Benchmark as of the Benchmark Replacement Date or (b) the then-current Benchmark is Three-Month Term SOFR and a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to Three-Month Term SOFR (in which event no Interpolated Benchmark with respect to Three-Month Term SOFR shall be determined), then "Benchmark Replacement" means the first alternative set forth in the order below that can be determined by the Calculation Agent as of the Benchmark Replacement Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Compounded SOFR;

(2) the sum of: (a) the alternate rate that has been selected or recommended by the Relevant Governmental Body as the replacement for
the then-current Benchmark for the applicable Corresponding Tenor and (b) the Benchmark Replacement Adjustment;

(3) the sum of: (a) the ISDA Fallback Rate and (b) the Benchmark Replacement Adjustment; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) the sum of (a) the alternate rate that has been selected by the Calculation Agent as the replacement for the then-current Benchmark
for the applicable Corresponding Tenor, giving due consideration to any industry-accepted rate as a replacement for the then-current Benchmark
for U.S. dollar-denominated floating rate securities at such time, and (b) the Benchmark Replacement Adjustment.

"**Benchmark Replacement Adjustment**" means the first alternative set forth in the order below that can be determined by the Calculation Agent as of the Benchmark Replacement Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the spread adjustment, or method for calculating or determining such spread adjustment (which may be a
positive or negative value or zero), that has been selected or recommended by the Relevant Governmental Body for the applicable Unadjusted
Benchmark Replacement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) if the applicable Unadjusted Benchmark Replacement is equivalent to the ISDA Fallback Rate, then the ISDA
Fallback Adjustment; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) the spread adjustment (which may be a positive or negative value or zero) that has been selected by the
Calculation Agent giving due consideration to any industry-accepted spread adjustment or method for calculating or determining such spread
adjustment, for the replacement of the then-current Benchmark with the applicable Unadjusted Benchmark Replacement for U.S. dollar-denominated
floating rate notes at such time.

"**Benchmark Replacement Conforming Changes**" means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of "Floating Rate Period," timing and frequency of determining rates with respect to each Floating Rate Period and making payments of interest, rounding of amounts or tenors, and other administrative matters) that the Calculation Agent decides may be appropriate to reflect the adoption of such Benchmark Replacement in a manner substantially consistent with market practice (or, if the Calculation Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Calculation Agent determines that no market practice for use of the Benchmark Replacement exists, in such other manner as the Calculation Agent determines is reasonably necessary).

"**Benchmark Replacement Date**" means the earliest to occur of the following events with respect to the then-current Benchmark:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) in the case of clause (1) of the definition of "Benchmark Transition Event," the relevant
Reference Time in respect of any determination;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) in the case of clause (2) or (3) of the definition of "Benchmark Transition Event," the
later of (a) the date of the public statement or publication of information referenced therein and (b) the date on which the administrator
of the Benchmark permanently or indefinitely ceases to provide the Benchmark; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) in the case of clause (4) of the definition of "Benchmark Transition Event," the date
of the public statement or publication of information referenced therein.

If the event giving rise to the Benchmark Replacement Date occurs on the same day as, but earlier than, the Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for such determination.

"**Benchmark Transition Event**" means the occurrence of one or more of the following events with respect to the then-current Benchmark:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) if the Benchmark is Three-Month Term SOFR, (a) the Relevant Governmental Body has not selected or recommended
a forward-looking term rate for a tenor of three months based on SOFR, (b) the development of a forward-looking term rate for a tenor
of three months based on SOFR that has been recommended or selected by the Relevant Governmental Body is not complete or (c) we determine
that the use of a forward-looking rate for a tenor of three months based on SOFR is not administratively feasible;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) a public statement or publication of information by or on behalf of the administrator of the Benchmark
announcing that such administrator has ceased or will cease to provide the Benchmark, permanently or indefinitely, provided that, at the
time of such statement or publication, there is no successor administrator that will continue to provide the Benchmark;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) a public statement or publication of information by the regulatory supervisor for the administrator of
the Benchmark, the central bank for the currency of the Benchmark, an insolvency official with jurisdiction over the administrator for
the Benchmark, a resolution authority with jurisdiction over the administrator for the Benchmark or a court or an entity with similar
insolvency or resolution authority over the administrator for the Benchmark, which states that the administrator of the Benchmark has
ceased or will cease to provide the Benchmark permanently or indefinitely, provided that, at the time of such statement or publication,
there is no successor administrator that will continue to provide the Benchmark; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) a public statement or publication of information by the regulatory supervisor for the administrator of
the Benchmark announcing that the Benchmark is no longer representative.

"**Compounded SOFR**" means the compounded average of SOFRs for the applicable Corresponding Tenor, with the rate, or methodology for this rate, and conventions for this rate being established by the Calculation Agent in accordance with:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the rate, or methodology for this rate, and conventions for this rate selected or recommended by the Relevant
Governmental Body for determining compounded SOFR; provided that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) if, and to the extent that, the Calculation Agent determines that Compounded SOFR cannot be determined
in accordance with clause (1) above, then the rate, or methodology for this rate, and conventions for this rate that have been selected
by the Calculation Agent giving due consideration to any industry-accepted market practice for U.S. dollar-denominated floating rate notes
at such time.

For the avoidance of doubt, the calculation of Compounded SOFR will exclude the Benchmark Replacement Adjustment (if applicable) and the spread of 189 basis points per annum.

"**Corresponding Tenor**" with respect to a Benchmark Replacement means a tenor (including overnight) having approximately the same length (disregarding business day adjustment) as the applicable tenor for the then-current Benchmark.

"**Interpolated Benchmark**" with respect to the Benchmark means the rate determined for the Corresponding Tenor by interpolating on a linear basis between: (1) the Benchmark for the longest period (for which the Benchmark is available) that is shorter than the Corresponding Tenor, and (2) the Benchmark for the shortest period (for which the Benchmark is available) that is longer than the Corresponding Tenor.

"**ISDA Definitions**" means the 2021 ISDA Definitions published by the International Swaps and Derivatives Association, Inc. or any successor thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from time to time.

"**ISDA Fallback Adjustment**" means the spread adjustment (which may be a positive or negative value or zero) that would apply for derivatives transactions referencing the ISDA Definitions to be determined upon the occurrence of an index cessation event with respect to the Benchmark for the applicable tenor.

"**ISDA Fallback Rate**" means the rate that would apply for derivatives transactions referencing the ISDA Definitions to be effective upon the occurrence of an index cessation date with respect to the Benchmark for the applicable tenor excluding the applicable ISDA Fallback Adjustment.

"**Unadjusted Benchmark Replacement**" means the Benchmark Replacement excluding the Benchmark Replacement Adjustment.

The terms "**Federal Reserve Bank of New York's Website**," "**Reference Time**," "**Relevant Governmental Body**," "**SOFR**" and "**Term SOFR**" have the meanings set forth above under the heading "—Interest."

**Determinations and Decisions**

The Calculation Agent is expressly authorized to make certain determinations, decisions and elections under the terms of the Notes, including with respect to the use of Three-Month Term SOFR as the Benchmark for the Floating Rate Period and under the Benchmark Transition Provisions. Any determination, decision or election that may be made by the Calculation Agent under the terms of the Notes, including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection:

&nbsp;&nbsp;&nbsp;&nbsp;· will be conclusive and binding on the holders of the Notes and the Trustee absent manifest error;

&nbsp;&nbsp;&nbsp;&nbsp;· if made by us as Calculation Agent, will be made in our sole discretion;

&nbsp;&nbsp;&nbsp;&nbsp;· if made by a Calculation Agent other than us, will be made after consultation with us, and the Calculation
Agent will not make any such determination, decision or election to which we reasonably object; and

&nbsp;&nbsp;&nbsp;&nbsp;· notwithstanding anything to the contrary in the Indenture, shall become effective without consent from
the holders of the Notes, the Trustee or any other party.

If the Calculation Agent fails to make any determination, decision or election that it is required to make under the terms of the Notes, then we will make that determination, decision or election on the same basis as described above.

**Calculation Agent**

We will appoint a Calculation Agent for the Notes prior to the commencement of the Floating Rate Period and will keep a record of such appointment at our principal offices, which will be available to any holder of the Notes upon request. In addition, we or an affiliate of ours may assume the duties of the Calculation Agent. We anticipate being the initial Calculation Agent.

**Methods of Receiving Payments on the Notes**

The Notes will be payable as to principal and interest at the office or agency of the Trustee (which may be us), or, at our option, payment of interest may be made by check mailed to the holders of the Notes at their addresses set forth in the register of holders, and provided that all payments of principal and interest with respect to Notes a holder of which owns at least $10 million aggregate principal amount of Notes and has given wire transfer instructions to the paying agent or us at least 10 business days prior to the applicable payment date, will be required to be made by wire transfer of immediately available funds to the accounts specified by the holder thereof.

**Optional Redemption**

We may, at our option, beginning with the Interest Payment Date on December 15, 2030, and on any Floating Rate Interest Payment Date thereafter (each, a "**Redemption Date**"), redeem the Notes in whole or in part on at least 10 but not more than 60 days' prior notice mailed to the holders of the Notes. The Notes will be redeemable at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest to, but excluding, the Redemption Date.

On and after any Redemption Date, interest will cease to accrue on the Notes called for redemption. One business day prior to any Redemption Date, we are required to deposit with the Trustee or paying agent money sufficient to pay the redemption price of, and accrued interest on, the Notes to be redeemed on such Redemption Date.

Selection and Notice

If less than all of the Notes are to be redeemed, the Trustee shall select the Notes to be redeemed among the holders of the Notes, on a pro rata basis, by lot or in accordance with any other method the Trustee deems fair and appropriate, subject to the rules and procedures of DTC. Notes and portions of Notes selected shall be in amounts of $1,000 or integral multiples of $1,000, except that if all of the Notes of a holder are to be redeemed, the entire outstanding amount of Notes held by such holder will be redeemed.

Notice of redemption will be mailed by first class mail to each holder of Notes to be redeemed at its registered address at least 10 but no more than 60 days before the applicable Redemption Date, except that redemption notices may be mailed more than 60 days prior to a Redemption Date if the notice is issued in connection with a defeasance of the Notes or a satisfaction and discharge of the Indenture.

If the Notes are to be redeemed in part, the notice of redemption will state the portion of the principal amount of that notice that is to be redeemed. A new global note in principal amount equal to the unredeemed portion of the original global note will be issued upon cancellation of the original global note. Notes called for redemption become due and payable on the date fixed for redemption.

**Events of Default; Waiver**

An "**event of default**," when used in the Indenture, means any of the following:

&nbsp;&nbsp;&nbsp;&nbsp;· our default in the payment of any installment of interest on the Notes when due and payable, and continuance
of such default for a period of 30 days;

&nbsp;&nbsp;&nbsp;&nbsp;· our default in the payment of all or part of the principal of the Notes when due and payable either on
the Maturity Date, upon any redemption, by declaration of acceleration of maturity or otherwise;

&nbsp;&nbsp;&nbsp;&nbsp;· our failure to perform any other covenant or agreement in the Indenture and the continuance of such failure
to perform for a period of 90 days after notice to us by the Trustee or to us and the Trustee by the holders of at least 25% in aggregate
principal amount of the Notes;

&nbsp;&nbsp;&nbsp;&nbsp;· a court having jurisdiction in the premises enters a decree or order for relief in respect of us or a
Material Subsidiary (as defined below) in an involuntary case or preceding under any applicable bankruptcy, insolvency, reorganization
or other similar law now or hereafter in effect, or a decree or order adjudging us or a Material Subsidiary as bankrupt or insolvent,
or approving as properly filed a petition seeking reorganization, arrangement, adjustment, or composition of or in respect of us or a
Material Subsidiary under any applicable federal or state law, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator
(or similar official) of us or a Material Subsidiary or for any substantial part of our property, or ordering the winding-up or liquidation
of our affairs, shall have been entered, and such decree or order remains unstayed and in effect for a period of 60 consecutive days;

&nbsp;&nbsp;&nbsp;&nbsp;· we or a Material Subsidiary commence a voluntary case or proceeding under any applicable federal or state
bankruptcy, insolvency, reorganization or other similar law now or hereafter in effect or any other case or proceeding to be adjudicated
as bankrupt or insolvent, or consent to the entry of a decree or order for relief in an involuntary case or proceeding under any such
law, or to the commencement of any bankruptcy or insolvency case or proceeding against us or a Material Subsidiary, or the filing by us
or a Material Subsidiary of a petition or answer to consent seeking reorganization or relief under any such applicable federal or state
law, or the consent by us or a Material Subsidiary to the filing of such petition or to the appointment of or taking possession by a custodian,
receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of us or a Material Subsidiary or of any substantial
part of our or its property, or the making by us or a Material Subsidiary of an assignment for the benefit of creditors, or the taking
of action by us or a Material Subsidiary in furtherance of any such action; or

&nbsp;&nbsp;&nbsp;&nbsp;· a default under any bond, debenture, note or other evidence of indebtedness for money borrowed by us or
a Material Subsidiary having an aggregate principal amount outstanding of at least $35,000,000, or under any mortgage, indenture or instrument
(including the Indenture) under which there may be issued or by which there may be secured or evidenced any indebtedness for money borrowed
by us or a Material Subsidiary having an aggregate principal amount outstanding of at least $35,000,000, whether such indebtedness now
exists or is created or incurred in the future, which default (i) constitutes a failure to pay any portion of the principal of such indebtedness
when due and payable after the expiration of any applicable grace period or (ii) results in such indebtedness becoming due or being declared
due and payable prior to the date on which it otherwise would have become due and payable without, in the case of clause (i), such
indebtedness having been discharged or, in the case of clause (ii), without such indebtedness having been discharged or such acceleration
having been rescinded or annulled. For purposes of this provision, obligations of us or a Material Subsidiary pursuant to a lease under
which we or such Material Subsidiary is a lessee that are required (as opposed to elected to be treated) as capitalized leases under United
States generally accepted accounting principles ()"**GAAP**") are excluded from the definition of indebtedness.

A "**Material Subsidiary**" means WSFS Bank or any successor thereof or any of our subsidiaries that is a depository institution and that has consolidated assets equal to 50% or more of our consolidated assets.

If an event of default occurs and continues, the Trustee or the holders of at least 25% in aggregate principal amount of the then outstanding Notes by notice to us and the Trustee may declare the principal amount of the Notes together with accrued interest to the date of declaration, to be due and payable immediately by a notice in writing to us (and to the Trustee if given by the holders of the outstanding Notes). The holders of a majority in aggregate principal amount of the then outstanding Notes by written notice to the Trustee may on behalf of the holders of all of the Notes rescind an acceleration and its consequences if the rescission would not conflict with any judgment or decree of a court of competent jurisdiction; we have paid or deposited with the Trustee a sum sufficient to pay all sums paid or advanced by the Trustee under the Indenture and the reasonable compensation, expenses disbursements and advances of the Trustee, its agents and counsel; and all existing events of default (except nonpayment of principal, interest or premium that has become due solely because of the acceleration) have been cured or waived.

The Indenture also provides that the holders of a majority in aggregate principal amount of the then outstanding Notes may on behalf of the holders of all of the Notes by notice to the Trustee waive any existing default with respect to the Indenture and its consequences, except (i) a continuing default or event of default in the payment of the principal of and interest on the Notes or (ii) in respect of a covenant or provision of the Indenture that cannot be modified or amended without the consent of the holders of all outstanding Notes.

The holders of a majority in aggregate principal amount of the then outstanding Notes may direct the time, method and place of conducting any proceeding for exercising any remedy available to the Trustee or exercising any trust or power conferred on the Trustee. However, the Trustee may refuse to follow any direction that conflicts with law or the Indenture or that the Trustee determines may be unduly prejudicial to the rights of other holders of the Notes not joining in the giving of such direction or that may involve the Trustee in personal liability. In addition, the Trustee may take any other action consistent with the Indenture relating to any such direction.

The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by the Indenture at the request or direction of any of the holders pursuant to the Indenture, unless such holders shall have offered to the Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction. Except to receive payment of principal, premium, if any, or interest on a Note, on or after the respective due dates expressed in such Note, or to bring suit for the enforcement of any such payment on or after such respective dates, a holder of a Note may pursue any remedy with respect to the Indenture or such Note only if:

&nbsp;&nbsp;&nbsp;&nbsp;· such holder has previously given the Trustee written notice of a continuing event of default;

&nbsp;&nbsp;&nbsp;&nbsp;· the holders of at least 25% in aggregate principal amount of the then outstanding Notes have made a written
request to the Trustee to pursue the remedy;

&nbsp;&nbsp;&nbsp;&nbsp;· such holders offer and provide to the Trustee security or indemnity acceptable to the Trustee against
any loss, liability or expense;

&nbsp;&nbsp;&nbsp;&nbsp;· the Trustee has not complied with such request within 60 days after receipt of the request and the offer
and the provision of security or indemnity acceptable to the Trustee; and

&nbsp;&nbsp;&nbsp;&nbsp;· the holders of a majority in aggregate principal amount of the outstanding Notes do not give the Trustee
a direction inconsistent with the request within such 60-day period.

Except in the case of a default or event of default in payment of principal of and interest on any Note, the Trustee may withhold notice of a default or event of default if and so long as a committee of its responsible officers in good faith determines that withholding the notice is in the interests of the holders of the Notes. We are required to deliver to the Trustee annually a statement from our applicable officers regarding whether or not they have knowledge of any default or event of default. Within 30 days of any applicable officer becoming aware of any default or event of default, such officer is required to deliver to the Trustee a statement specifying such default or event of default. For purposes of this paragraph, "default" means any event which is, or after notice or lapse of time or both would become, an event of default under the Indenture with respect to the Notes.

**Ranking**

The Notes will be our unsecured and unsubordinated indebtedness and will rank equally in right of payment with all of our existing and future senior unsecured indebtedness, senior in right of payment to any of our trust preferred securities guarantees and senior in right of payment to any of our junior or subordinated indebtedness. The Notes will be effectively subordinated in right of payment to any of our secured indebtedness (to the extent of the value of the collateral securing such indebtedness). Further, there are legal limitations on the extent to which some of our subsidiaries may extend credit, pay dividends or otherwise supply funds to, or engage in transactions with, us or some of our other subsidiaries. Our subsidiaries are separate and distinct legal entities and have no obligation, contingent or otherwise, to pay amounts due under our contracts or otherwise to make any funds available to us. Accordingly, the Notes will be structurally subordinated to all existing and future liabilities of our subsidiaries. As of September 30, 2025, WSFS had no outstanding secured indebtedness, $148.8 million in senior unsecured indebtedness and our subsidiaries' direct borrowings and deposit liabilities totaled approximately $17.4 billion.

Since we are a holding company, our rights and the rights of our creditors, including holders of the Notes, to participate in any distribution of the assets of our subsidiaries, upon a subsidiary's dissolution, winding-up, liquidation or reorganization or otherwise, and thus the ability of a holder of Notes to benefit indirectly from such distribution, is subject to the prior claims of creditors of any such subsidiary, including, in the case of WSFS Bank, its depositors, except to the extent that we may be a creditor of such subsidiary and our claims are recognized. Claims on our subsidiaries by creditors other than us may include claims with respect to long-term debt and substantial obligations with respect to deposit liabilities, federal funds purchased, securities sold under repurchase agreements, other short-term borrowings and various other financial obligations.

**Merger, Consolidation, Sale, Lease or Conveyance**

We may not merge or consolidate with or into any person, or sell, lease or convey, in a single transaction or in a series of transactions, all or substantially all of our assets to any person, unless:

&nbsp;&nbsp;&nbsp;&nbsp;· we are the continuing corporation, or the successor corporation or the person that acquires all or substantially
all of our assets is a corporation organized and existing under the laws of the United States or a state thereof or the District of Columbia
and expressly assumes all our obligations under the Notes and the Indenture or assumes such obligations as a matter of law;

&nbsp;&nbsp;&nbsp;&nbsp;· immediately after giving effect to such merger, consolidation, sale, assignment, transfer, lease or conveyance
or other disposition of all or substantially all of the assets, there is no default (as defined above) or event of default under the Indenture;
and

&nbsp;&nbsp;&nbsp;&nbsp;· we shall have delivered to the Trustee an officers' certificate and an opinion of counsel, each
stating that the transaction complies with the terms of the Indenture and that all conditions precedent in the Indenture provided for
relating to such transaction have been complied with.

Upon any such consolidation, merger, sale, assignment, transfer, lease or conveyance or other disposition of all or substantially all of the assets, the successor corporation formed by such consolidation, or into which we are consolidated or merged or to which such sale, lease or conveyance is made, shall succeed to, and be substituted for, us under the Indenture with the same effect as if it had been an original party to the Indenture. Thereupon, we will be relieved from any further liability or obligation under the Indenture and under the Notes.

Although there is a limited body of case law interpreting the phrase "substantially all" and similar phrases, there is no precise established definition of the phrase under applicable law. Accordingly, in certain circumstances there may be a degree of uncertainty as to whether a particular transaction would involve "substantially all" the property or assets of a person.

**Certain Covenants**

Subject to certain exceptions, so long as any of the Notes are outstanding, the Indenture:

&nbsp;&nbsp;&nbsp;&nbsp;· prohibits us from, directly or indirectly, selling, assigning, pledging, transferring or otherwise disposing,
and we cannot permit a Material Subsidiary or any of our other subsidiaries to, directly or indirectly, sell, pledge, assign, transfer
or otherwise dispose of shares of voting capital stock, or, in each case, securities convertible into voting capital stock, or options,
warrants or rights to subscribe for or purchase voting capital stock of a Material Subsidiary; and

&nbsp;&nbsp;&nbsp;&nbsp;· prohibits us from permitting a Material Subsidiary to issue any shares of its voting capital stock or
securities convertible into its voting capital stock or options, warrants or rights to subscribe for or purchase its voting capital stock;

unless we will own, directly or indirectly, at least 80% of the issued and outstanding voting stock of a Material Subsidiary after giving effect to that transaction and to the issuance of the maximum number of shares of voting capital stock of the Material Subsidiary issuable upon the exercise of all such convertible securities, options, warrants or rights. The covenant described in the second bullet above does not apply to any transaction of the type described above under "—Merger, Consolidation, Sale, Lease or Conveyance."

Furthermore, we will not permit a Material Subsidiary to:

&nbsp;&nbsp;&nbsp;&nbsp;· merge or consolidate with or into any corporation or other person, unless we are the surviving corporation
or person, or unless, upon consummation of the merger or consolidation, we will own, directly or indirectly, at least 80% of the surviving
corporation's issued and outstanding voting stock;

&nbsp;&nbsp;&nbsp;&nbsp;· lease, sell, assign or transfer all or substantially all of its properties and assets to any corporation
or other person (other than us), unless, upon such sale, assignment or transfer, we will own, directly or indirectly, at least 80% of
the issued and outstanding voting stock of that corporation or other person; or

&nbsp;&nbsp;&nbsp;&nbsp;· pay any dividend in a Material Subsidiary's voting stock or make any other distribution in its voting
stock, unless the Material Subsidiary to which the transaction relates, after obtaining any necessary regulatory approvals, unconditionally
guarantees payment of the principal and any premium and interest on the Securities.

However, we may agree to any such merger or consolidation or sale, lease, assignment, pledge or transfer of securities, properties or assets if: (i) required by law, such lease, sale, assignment or transfer of securities is made to any person for the purpose of the qualification of such person to serve as a director; (ii) such lease, sale, assignment or transfer of securities is made by us or any of our subsidiaries acting in a fiduciary capacity for any person other than us or any of our subsidiaries; (iii) made in connection with the consolidation of us with or the sale, lease or conveyance of all or substantially all of the assets of us to, or merger of us with or into any other person (as to which the covenant described above under the heading "—Merger, Consolidation, Sale, Lease or Conveyance" shall apply); or (iv) it is required as a condition imposed by any law or any rule, regulation or order of any governmental agency or authority to the acquisition by us, directly or indirectly, through purchase of stock or assets, merger, consolidation or otherwise, of another entity; provided that in the case of only, after giving effect to such acquisition, (y) at least 80% of the issued and outstanding voting stock of such entity will be owned, directly or indirectly, by us and (z) our consolidated assets will be at least equal to 70% of our consolidated assets prior to the transaction. These covenants will not prohibit us or a Material Subsidiary from selling or transferring assets pursuant to any securitization transaction or pledging any assets to secure borrowings incurred in the ordinary course of business, including, without limitation, deposit liabilities, mortgage escrow funds, advances from the Federal Home Loan Bank of Pittsburgh, reverse repurchase agreements, recourse obligations incurred in connection with the Material Subsidiary's lending activities and letters of credit.

Furthermore, for so long as the Notes are outstanding, we will not, nor will we permit a Material Subsidiary to, create, assume, incur or cause to be created, assumed or incurred, or to exist, any pledge, encumbrance or lien, as security for indebtedness for borrowed money, any shares of voting stock of a Material Subsidiary (or securities convertible into, or options, warrants or rights to subscribe for or purchase shares of that voting stock, directly or indirectly) without making effective provision for securing the Notes equally and ratably with that secured indebtedness. However, this covenant will not apply to the extent that we continue to own at least 80% of the issued and outstanding voting stock of a Material Subsidiary after giving effect to the issuance of the maximum number of shares of voting stock of the Material Subsidiary issuable upon the exercise of all such convertible securities or options, warrants and rights to subscribe for or purchase shares of that voting stock (treating that encumbrance as a transfer of those shares to the secured party). The foregoing restriction does not apply to any:

&nbsp;&nbsp;&nbsp;&nbsp;· pledge, encumbrance or lien on such shares of voting stock of the Material Subsidiary to secure our indebtedness
or the indebtedness of a subsidiary as part of the purchase price of such shares of voting stock, or incurred prior to, at the time of
or within 120 days after acquisition thereof for the purpose of financing all or any part of the purchase price thereof;

&nbsp;&nbsp;&nbsp;&nbsp;· lien for taxes, assessments or other government charges or levies (i) which are not yet due or payable
without penalty, (ii) which we are contesting in good faith by appropriate proceedings so long as we have set aside on our books such
reserves as shall be required in respect thereof in conformity with GAAP or (iii) which secure obligations of less than $1,000,000 in
amount;

&nbsp;&nbsp;&nbsp;&nbsp;· lien of any judgment, if that judgment (i) is discharged, or stayed on appeal or otherwise, within 60
days, (ii) is currently being contested in good faith by appropriate proceedings so long as we have set aside on our books such reserves
as shall be required in respect thereof in conformity with GAAP or (iii) involves claims of less than $1,000,000; or

&nbsp;&nbsp;&nbsp;&nbsp;· pledge or lien on the voting stock of a Material Subsidiary to secure a loan or other extension of credit
by any of our subsidiaries subject to Section 23A of the Federal Reserve Act.

The holders of no less than a majority in aggregate principal amount of the Notes may waive compliance in a particular instance by us with any provision of the Indenture or the Notes, including the foregoing covenants, except as otherwise stated below under "—Modification of the Indenture."

**Satisfaction and Discharge**

The Indenture will be discharged and will cease to be of further effect as to all Notes, when:

1. either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. all Notes that have been authenticated, except lost, stolen or destroyed Notes that have been replaced
or paid and Notes for which payment has been deposited in trust and thereafter repaid to us, have been delivered to the Trustee for cancellation;
or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. all Notes that have not been delivered to the Trustee for cancellation have become due and payable by
reason of the mailing of a notice of redemption or otherwise or shall become due and payable within one year and we have irrevocably deposited
with the Trustee or the paying agent, in trust, for the benefit of the holders of the Notes, cash in United States dollars and/or non-callable
government securities, or a combination thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized firm
of independent public accountants, to pay and discharge the entire indebtedness on the Notes not delivered to the Trustee for cancellation
for principal, premium, if any, and accrued interest, to the date of maturity or redemption;

2. we have paid all sums payable by us under the Indenture with respect to the Notes;

3. we have delivered irrevocable instructions to the Trustee to apply the deposited money toward the payment
of the Notes at maturity or on the Redemption Date, as the case may be; and

4. we have delivered to the Trustee an officers' certificate and an opinion of counsel stating that
the conditions precedent to the satisfaction and discharge of the Notes have been satisfied.

**Legal Defeasance and Covenant Defeasance**

Legal Defeasance

We will be deemed to have paid and will be discharged from any and all obligations in respect of the Notes on the 91st day after we have made the deposit referred to below, and the provisions of the Indenture will cease to be applicable with respect to the Notes (except for, among other matters, certain obligations to register the transfer of or exchange of the Notes, to replace stolen, lost or mutilated Notes, to maintain paying agencies and to hold funds for payment in trust) if:

1. we have irrevocably deposited with the Trustee, in trust, cash in United States dollars and/or non-callable
government securities, or a combination thereof, that will provide funds in amount sufficient, in the opinion of a nationally recognized
public accounting firm, to pay the principal of, premium, if any, on and interest on the Notes on the Maturity Date or on the applicable
Redemption Date in accordance with the terms of the Indenture;

2. we have delivered to the Trustee:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. an opinion of counsel to the effect that holders of the Notes will not recognize income, gain or loss
for federal income tax purposes as a result of the defeasance and will be subject to federal income tax on the same amounts and in the
same manner and at the same times as would have been the case if such defeasance had not occurred, which opinion of counsel must be based
upon a ruling of or publication by the Internal Revenue Service to the same effect or a change in applicable federal income tax law or
related treasury regulations after the date of the Indenture; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. an opinion of counsel to the effect that the defeasance trust does not constitute an "investment
company" within the meaning of the Investment Company Act of 1940, as amended, and, after the passage of 91 days following the deposit,
the trust funds will not be subject to the effect of any applicable bankruptcy, insolvency, reorganization or similar laws affecting creditors'
rights generally;

3. no default (as defined above) or event of default will have occurred and be continuing on the date of
such deposit, or insofar as events of default due to certain events of bankruptcy, insolvency or reorganization in respect of us are concerned,
during the period ending on the 91st day after the date of such deposit, and such deposit shall not result in a breach or violation of,
or constitute a default under, any other material agreement or instrument to which we are a party or by which we are bound;

4. we shall have delivered to the Trustee an officers' certificate and an opinion of counsel, each
stating that, subject to certain assumptions and exclusions, all conditions precedent provided for or relating to the defeasance have
been complied with; and

5. the Trustee shall have received such other documents, assurances and opinions of counsel as the Trustee
shall have reasonably required.

Covenant Defeasance

Upon our exercise of our option to effect covenant defeasance, we will not need to comply with certain restrictive covenants, and the provisions of the Indenture will cease to be applicable with respect to an event of default under the Notes other than an event of default due to our failure to pay the principal of or interest on the Notes when due, if:

1. we have satisfied the conditions described in clauses 1, 2.ii, 3, 4 and 5 of the preceding "—Legal
Defeasance" section; and

2. we have delivered to the Trustee of an opinion of counsel to the effect that the holders of the Notes
will not recognize income, gain or loss for federal income tax purposes as a result of such defeasance and will be subject to federal
income tax on the same amount and in the same manner and at the same times as would have been the case if such defeasance had not occurred.

If we exercise our option to omit compliance with certain provisions of the Indenture as described in the immediately preceding paragraph and the Notes are declared due and payable because of the occurrence of an event of default that remains applicable, the amount of money and/or non-callable government securities on deposit with the Trustee may not be sufficient to pay amounts due on the Notes at the time of acceleration resulting from such event of default. In such event, we will remain liable for such payments.

**Modification of the Indenture**

Except as set forth below, modification and amendment of the Indenture as applicable to the Notes may be made only with the consent of the holders of not less than a majority in principal amount of the Notes then outstanding voting as a single class.

No modification or amendment of the Indenture as applicable to the Notes may, without the consent of each holder affected thereby, do any of the following (with respect to any Notes held by a nonconsenting holder):

&nbsp;&nbsp;&nbsp;&nbsp;· change the stated maturity of the principal of, or interest on, the Notes;

&nbsp;&nbsp;&nbsp;&nbsp;· reduce the principal amount of the Notes or reduce the rate of, or extend or change the time for payment
of, interest on the Notes;

&nbsp;&nbsp;&nbsp;&nbsp;· change the place or currency of payment of principal, premium, if any, or interest on the Notes;

&nbsp;&nbsp;&nbsp;&nbsp;· reduce any amount payable upon the redemption of the Notes;

&nbsp;&nbsp;&nbsp;&nbsp;· impair the right to institute suit for the enforcement of any payment on or with respect to the Notes;

&nbsp;&nbsp;&nbsp;&nbsp;· reduce the percentage in principal amount of outstanding Notes the consent of whose holders is required
for modification or amendment of the Indenture;

&nbsp;&nbsp;&nbsp;&nbsp;· reduce the percentage in principal amount of outstanding Notes necessary for waiver of compliance with
certain provisions of the Indenture or for waiver of certain defaults;

&nbsp;&nbsp;&nbsp;&nbsp;· make any change that adversely affects the right to convert or exchange the Notes; or

&nbsp;&nbsp;&nbsp;&nbsp;· modify such provisions with respect to modification and waiver.

We and the Trustee may enter into one or more indentures supplemental to the Indenture as applicable to the Notes, without the consent of any holder of the Notes, for any of the following purposes:

&nbsp;&nbsp;&nbsp;&nbsp;· to cure any ambiguity, defect or inconsistency;

&nbsp;&nbsp;&nbsp;&nbsp;· to provide for uncertificated Notes in addition to or in place of definitive Notes;

&nbsp;&nbsp;&nbsp;&nbsp;· to provide for the assumption of our obligations by a successor in accordance with the covenant described
above under "—Merger, Consolidation, Sale, Lease or Conveyance";

&nbsp;&nbsp;&nbsp;&nbsp;· to conform the text of the Indenture or the Notes to any provision of the "Description of the Notes"
section in this prospectus supplement, as long as such action does not adversely affect the interest of any holder of the Notes in any
material respect;

&nbsp;&nbsp;&nbsp;&nbsp;· to supplement any of the provisions of the Indenture to such extent as shall be necessary to permit or
facilitate the defeasance and discharge of any Note as described above under "—Satisfaction and Discharge" and "—Legal
Defeasance and Covenant Defeasance";

&nbsp;&nbsp;&nbsp;&nbsp;· to make any change that would provide any additional rights or benefits to the holders of the Notes;

&nbsp;&nbsp;&nbsp;&nbsp;· to make any change that is not inconsistent with the Indenture and does not adversely affect the legal
rights thereunder of any holder of the Notes;

&nbsp;&nbsp;&nbsp;&nbsp;· to comply with the requirements of the SEC in order to effect or maintain the qualification of the Indenture
under the Trust Indenture Act of 1939, as amended (the "**TIA** "); or

&nbsp;&nbsp;&nbsp;&nbsp;· to evidence and provide for the acceptance of appointment of any successor trustee with respect to the
Notes.

Subject to the requirements for the holders to waive a default and to pursue a remedy with respect to the Indenture or the Notes and the rights of any holder of a Note to receive payment of principal of, premium, if any, on and interest on such Note, holders of a majority in aggregate principal amount of the Notes voting as a single class may waive compliance in a particular instance by us with any provision of the Indenture or the Note, except as otherwise stated above.

**Outstanding Notes; Determinations of Holders' Actions**

Notes outstanding at any time are the Notes authenticated by the Trustee except for those canceled by it, those mutilated, destroyed, lost or stolen that have been replaced by the Trustee, those delivered to the Trustee for cancellation and those described below as not outstanding. Notes do not cease to be outstanding because we or an affiliate of us holds the Notes; provided, that in determining whether the holders of the requisite principal amount of Notes have given or concurred in any request, demand, authorization, direction, notice, consent, amendment or waiver, Notes owned by us or an affiliate of us will be disregarded and deemed not to be outstanding. If the paying agent holds on a Redemption Date money or securities sufficient to pay Notes payable on that date, then immediately after such Redemption Date such Notes will cease to be outstanding.

The Trustee may make reasonable rules for action by or at a meeting of holders of the Notes. The registrar or paying agent may make reasonable rules and set reasonable requirements for its functions.

**Limitation on Individual Liability**

No past, present or future director, officer, employee, incorporator or stockholder of us, as such, will have any liability for any obligations of us under the Notes or the Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each holder of the Notes, by accepting such Notes waives and releases such liability. The waiver and release are part of the consideration for the issuance of the Notes. Such waiver may not be effective to waive liabilities under the federal securities laws.

**Trustee**

U.S. Bank Trust Company, National Association will act as trustee for the Notes under the Indenture, as permitted by the terms thereof. At all times, the Trustee must be organized and doing business under the laws of the United States or any state thereof, and must comply with the applicable requirements under the Trust Indenture Act. The Trustee may resign at any time by giving us written notice and may be removed as Trustee with respect to the Notes:

&nbsp;&nbsp;&nbsp;&nbsp;· by notice to the Company and the Trustee in writing by the holders of a majority in aggregate principal
amount of the outstanding Notes; or

&nbsp;&nbsp;&nbsp;&nbsp;· by us if it (i) fails to comply with the obligations imposed upon it under the Trust Indenture Act; (ii)
a court takes certain actions with respect to such Trustee relating to bankruptcy or insolvency; (iii) becomes incapable of acting as
Trustee; or (iv) a custodian or public officer takes charge of the Trustee or its property.

If the Trustee resigns or is removed or if a vacancy exists in the office of the Trustee for any reason, we will promptly appoint a new Trustee. A resignation or removal of the Trustee will become effective only upon the successor Trustee's acceptance of appointment to the retiring Trustee and to us. The successor Trustee will mail a notice of its succession to holders of the Notes.

If the Trustee acquires any conflicting interest, as defined in the Trust Indenture Act, with respect to the Notes, within 90 days after the Trustee after ascertaining that it has a conflicting interest, which has not been cured or waived, the Trustee would generally be required by the Trust Indenture Act to eliminate that conflicting interest or resign as Trustee with respect to the Notes issued under the Indenture. If the Trustee resigns, we are required to promptly appoint a successor trustee with respect to the affected securities.

U.S. Bank Trust Company, National Association and/or certain of its affiliates may provide banking, investment and other services to us. A trustee under the Indenture may act as trustee under any of our other indentures.

**Notices**

Any notices required to be given to the holders of the Notes will be given to DTC, and DTC will communicate these notices to DTC participants in accordance with its standard procedures.

**Governing Law**

The Indenture and the Notes are governed by, and will be construed in accordance with, the laws of the State of New York.

**Book-Entry Delivery and Settlement**

Global Notes

We will issue any debt securities in the form of one or more global notes in definitive, fully registered, book-entry form. The global notes will be deposited with or on behalf of DTC, and registered in the name of Cede & Co., as nominee of DTC.

*The Clearing System*

We have obtained the following information under this heading "The Clearing System" from sources that we believe to be reliable, but we take no responsibility for the accuracy of this information.

Owners of beneficial interests in a global note may elect to hold their interests in such global note outside the United States through Clearstream or Euroclear, if they are a participant of such system, or indirectly through organizations that are participants in such systems. Interests held through Clearstream and Euroclear will be recorded on DTC's books as being held by the U.S. depositary for each of Clearstream and Euroclear, which U.S. depositaries will in turn hold interests on behalf of their participants' customers' securities accounts. Citibank, N.A. will act as depositary for Clearstream and JPMorgan Chase Bank, N.A. will act as depositary for Euroclear (in such capacities, the "**U.S. Depositaries**").

*Clearstream*

Clearstream advises that it is incorporated under the laws of Luxembourg as a professional depositary. Clearstream holds securities for its participating organizations ("**Clearstream Participants**") and facilitates the clearance and settlement of securities transactions between Clearstream Participants through electronic book entry changes in accounts of Clearstream Participants, thereby eliminating the need for physical movement of certificates. Clearstream, provides to Clearstream Participants, among other things, services for safekeeping, administration, clearance and settlement of internationally traded securities and securities lending and borrowing. Clearstream interfaces with domestic markets in several countries. As a professional depositary, Clearstream is subject to regulation by the Luxembourg Commission for the Supervision of the Financial Sector (Commission de Surveillance du Secteur Financier). Clearstream Participants are recognized financial institutions around the world, including underwriters, securities brokers and dealers, banks, trust companies, clearing corporations and certain other organizations and may include the underwriters. Indirect access to Clearstream is also available to others, such as banks, brokers, dealers and trust companies that clear through or maintain a custodial relationship with a Clearstream Participant, either directly or indirectly.

Distributions with respect to interests in the Notes held beneficially through Clearstream will be credited to cash accounts of Clearstream Participants in accordance with its rules and procedures, to the extent received by the U.S. Depositary for Clearstream.

*Euroclear*

Euroclear advises that it was created in 1968 to hold securities for participants of Euroclear ("**Euroclear Participants**") and to clear and settle transactions between Euroclear Participants through simultaneous electronic book-entry delivery against payment, thereby eliminating the need for physical movement of certificates and any risk from lack of simultaneous transfers of securities and cash. Euroclear includes various other services, including securities lending and borrowing and interfaces with domestic markets in several countries. Euroclear is operated by Euroclear Bank S.A./N.V. (the "**Euroclear Operator**"). All operations are conducted by the Euroclear Operator, and all Euroclear securities clearance accounts and Euroclear cash accounts are accounts with the Euroclear Operator. Euroclear Participants include banks (including central banks), securities brokers and dealers and other professional financial intermediaries and may include the underwriters. Indirect access to Euroclear is also available to other firms that clear through or maintain a custodial relationship with a Euroclear Participant, either directly or indirectly.

The Terms and Conditions Governing Use of Euroclear and the related Operating Procedures of the Euroclear System, or the Euroclear Terms and Conditions, and applicable Belgian law govern securities clearance accounts and cash accounts with the Euroclear Operator.

Specifically, these terms and conditions govern:

&nbsp;&nbsp;&nbsp;&nbsp;· transfers of securities and cash within Euroclear;

&nbsp;&nbsp;&nbsp;&nbsp;· withdrawal of securities and cash from Euroclear; and

&nbsp;&nbsp;&nbsp;&nbsp;· receipt of payments with respect to securities in Euroclear.

All securities in Euroclear are held on a fungible basis without attribution of specific certificates to specific securities clearance accounts. The Euroclear Operator acts under the terms and conditions only on behalf of Euroclear Participants and has no record of or relationship with persons holding securities through Euroclear Participants.

Distributions with respect to interests in the Notes held beneficially through Euroclear will be credited to the cash accounts of Euroclear Participants in accordance with the Euroclear Terms and Conditions, to the extent received by the U.S. Depositary for the Euroclear Operator.

DTC

Beneficial interests in the global notes will be represented through book-entry accounts of financial institutions acting on behalf of beneficial owners as direct and indirect participants in DTC. Investors may hold interests in the global notes through DTC.

DTC has advised us that:

&nbsp;&nbsp;&nbsp;&nbsp;· DTC is a limited-purpose trust company organized under the New York Banking Law, a "banking organization"
within the meaning of the New York Banking Law, a member of the Federal Reserve System, a "clearing corporation" within the
meaning of the New York Uniform Commercial Code and a "clearing agency" registered under Section 17A of the Exchange
Act.

&nbsp;&nbsp;&nbsp;&nbsp;· DTC holds securities that its participants deposit with DTC and facilitates the settlement among participants
of securities transactions, such as transfers and pledges, in deposited securities through electronic computerized book-entry changes
in participants' accounts, thereby eliminating the need for physical movement of securities certificates.

&nbsp;&nbsp;&nbsp;&nbsp;· Direct participants include securities brokers and dealers, banks, trust companies, clearing corporations
and other organizations, some of whom, and/or their representatives, own DTC.

&nbsp;&nbsp;&nbsp;&nbsp;· DTC is a wholly owned subsidiary of The Depository Trust & Clearing Corporation ()"**DTCC** ").
DTCC is the holding company for DTC, National Securities Clearing Corporation and Fixed Income Clearing Corporation, all of which are
registered clearing agencies. DTCC is owned by the users of its regulated subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;· Access to the DTC system is also available to others such as securities brokers and dealers, banks and
trust companies that clear through or maintain a custodial relationship with a direct participant, either directly or indirectly.

&nbsp;&nbsp;&nbsp;&nbsp;· The rules applicable to DTC and its direct and indirect participants are on file with the SEC.

We have provided the description of the operations and procedures of DTC in this prospectus supplement solely as a matter of convenience. These operations and procedures are solely within the control of those organizations and are subject to change by them from time to time. None of us, the underwriters nor the Trustee takes any responsibility for these operations or procedures, and you are urged to contact DTC or their participants directly to discuss these matters.

We expect that under procedures established by DTC:

&nbsp;&nbsp;&nbsp;&nbsp;· upon deposit of the global notes with DTC or its custodian, DTC will credit on its internal system the
accounts of direct participants designated by the underwriters with portions of the principal amounts of the global notes; and

&nbsp;&nbsp;&nbsp;&nbsp;· ownership of the Notes will be shown on, and the transfer of ownership thereof will be effected only through,
records maintained by DTC or its nominee, with respect to interests of direct participants, and the records of direct and indirect participants,
with respect to interests of persons other than participants.

The laws of some jurisdictions may require that purchasers of securities take physical delivery of those securities in definitive form. Accordingly, the ability to transfer interests in the Notes represented by a global note to those persons may be limited. In addition, because DTC can act only on behalf of its participants, who in turn act on behalf of persons who hold interests through participants, the ability of a person having an interest in the Notes represented by a global note to pledge or transfer those interests to persons or entities that do not participate in DTC's system, or otherwise to take actions in respect of such interest, may be affected by the lack of a physical definitive security in respect of such interest.

So long as DTC or its nominee is the registered owner of a global note, DTC or that nominee will be considered the sole owner or holder of the Notes represented by that global note for all purposes under the Indenture and under the Notes. Except as provided below, owners of beneficial interests in a global note will not be entitled to have the Notes represented by that global note registered in their names, will not receive or be entitled to receive physical delivery of certificated Notes and will not be considered the owners or holders thereof under the Indenture or under the Notes for any purpose, including with respect to the giving of any direction, instruction or approval to the Trustee. Accordingly, each holder owning a beneficial interest in a global note must rely on the procedures of DTC and, if that holder is not a direct or indirect participant, on the procedures of the participant through which that holder owns its interest, to exercise any rights of a holder of Notes under the Indenture or a global note.

Neither we nor the Trustee will have any responsibility or liability for any aspect of the records relating to or payments made on account of the Notes by DTC, or for maintaining, supervising or reviewing any records of those organizations relating to the Notes.

Payments on the Notes represented by the global notes will be made to DTC or its nominee, as the case may be, as the registered owner thereof. We expect that DTC or its nominee, upon receipt of any payment on the Notes represented by a global note, will credit participants' accounts with payments in amounts proportionate to their respective beneficial interests in the global note as shown in the records of DTC or its nominee. We also expect that payments by participants to owners of beneficial interests in the global note held through such participants will be governed by standing instructions and customary practice as is now the case with securities held for the accounts of customers registered in the names of nominees for such customers. The participants will be responsible for those payments.

*Settlement*

Initial settlement for the Notes will be made in immediately available funds. Secondary market trading between DTC participants will occur in the ordinary way in accordance with DTC rules and will be settled in immediately available funds using DTC's Same-Day Funds Settlement System. Secondary market trading between Clearstream Participants and/or Euroclear Participants will occur in the ordinary way in accordance with the applicable rules and operating procedures of Clearstream and Euroclear and will be settled using the procedures applicable to conventional eurobonds in immediately available funds.

Cross-market transfers between persons holding directly or indirectly through DTC, on the one hand, and directly or indirectly through Clearstream Participants or Euroclear Participants, on the other, will be effected in DTC in accordance with DTC rules on behalf of the relevant European international clearing system by the U.S. depositary for such clearing system; however, such cross-market transactions will require delivery of instructions to the relevant European international clearing system by the counterparty in such system in accordance with its rules and procedures and within its established deadlines (based on European time). The relevant European international clearing system will, if the transaction meets its settlement requirements, deliver instructions to the U.S. Depositary to take action to effect final settlement on its behalf by delivering or receiving notes in DTC, and making or receiving payment in accordance with normal procedures for same-day funds settlement applicable to DTC. Clearstream Participants and Euroclear Participants may not deliver instructions directly to their respective U.S. Depositaries.

Because of time-zone differences, credits of notes received in Clearstream or Euroclear as a result of a transaction with a DTC participant will be made during subsequent securities settlement processing and dated the business day following the DTC settlement date. Such credits or any transactions in such notes settled during such processing will be reported to the relevant Clearstream Participants or Euroclear Participants on such business day. Cash received in Clearstream or Euroclear as a result of sales of notes by or through a Clearstream Participant or a Euroclear Participant to a DTC participant will be received with value on the DTC settlement date but will be available in the relevant Clearstream or Euroclear cash account only as of the business day following settlement in DTC.

Although DTC, Clearstream and Euroclear have agreed to the foregoing procedures in order to facilitate transfers of notes among participants of DTC, Clearstream and Euroclear, they are under no obligation to perform or continue to perform such procedures and such procedures may be discontinued at any time. The information in this section concerning DTC, Clearstream, Euroclear and DTC's book-entry system has been obtained from sources that we believe to be reliable (including DTC, Clearstream and Euroclear), but we take no responsibility for the accuracy thereof.

Certificated Notes

Individual certificates in respect of any Notes will not be issued in exchange for the global notes, except in very limited circumstances. We will issue or cause to be issued certificated Notes to each person that DTC identifies as the beneficial owner of the Notes represented by a global note upon surrender by DTC of the global note if:

&nbsp;&nbsp;&nbsp;&nbsp;· DTC notifies us that it is no longer willing or able to act as a depositary for such global note or ceases
to be a clearing agency registered under the Exchange Act, and we have not appointed a successor depositary within 90 days of that notice
or becoming aware that DTC is no longer so registered;

&nbsp;&nbsp;&nbsp;&nbsp;· an event of default has occurred and is continuing, and DTC requests the issuance of certificated Notes;
or

&nbsp;&nbsp;&nbsp;&nbsp;· subject to DTC's procedures, we determine not to have the Notes of such series represented by a
global note.

Neither we nor the Trustee will be liable for any delay by DTC, its nominee or any direct or indirect participant in identifying the beneficial owners of the Notes. We and the Trustee may conclusively rely on, and will be protected in relying on, instructions from DTC or its nominee for all purposes, including with respect to the registration and delivery, and the respective principal amounts, of the certificated Notes to be issued.

**U.S. FEDERAL INCOME TAX CONSIDERATIONS**

The following is a discussion of U.S. federal income tax considerations generally applicable to the ownership and disposition of the Notes by a U.S. Holder or a Non-U.S. Holder (each as defined below) that purchases the Notes pursuant to and at the price indicated on the cover of this prospectus supplement and holds the Notes as "capital assets" (generally, property held for investment purposes) for U.S. federal income tax purposes. This discussion is based upon the U.S. Internal Revenue Code of 1986, as amended (the "*Code*"), U.S. Treasury Regulations promulgated thereunder, judicial decisions and current administrative rulings and practice, all as in effect and available as of the date of this prospectus supplement and all of which are subject to differing interpretations or change, possibly with retroactive effect. No ruling from the Internal Revenue Service (the "*IRS*") has been or is expected to be sought on any of the issues discussed herein, and there can be no assurance that the IRS or a court will concur with the conclusions reached below.

This discussion does not discuss all aspects of U.S. federal income taxation which may be important to particular investors in light of their individual circumstances, such as investors subject to special tax rules (e.g., banks and other financial institutions, insurance companies, real estate investment trusts, broker-dealers, partnerships and their partners, tax-exempt organizations (including private foundations), qualified retirement plans, "controlled foreign corporations," "passive foreign investment companies," holders subject to the alternative minimum tax and certain former citizens and former long-term residents of the United States), or to persons that will hold the Notes as part of a broader transaction, all of whom may be subject to tax rules that differ significantly from those summarized below. Furthermore, this discussion does not address any other U.S. federal tax considerations (e.g., estate or gift tax or the Medicare tax on net investment income) or any state, local or non-U.S. tax laws. Prospective investors are urged to consult their own tax advisors regarding the U.S. federal, state, local and non-U.S. income and other tax considerations applicable to them in their particular circumstances. In addition, this discussion does not apply to holders of 2030 Notes that invest in the Notes and whose 2030 Notes are redeemed using proceeds from this offering; such holders are urged to consult their own tax advisors regarding the tax consequences of an investment in the Notes.

For the purposes of this summary, a "U.S. Holder" is a beneficial owner of a Note that, for U.S. federal income tax purposes, is any of the following: (i) an individual who is citizen or resident of the United States, (ii) a corporation (or other entity treated as a corporation for U.S. federal income tax purposes) created in, or organized under the law of, the United States, any state thereof or the District of Columbia, (iii) an estate the income of which is subject to U.S. federal income tax regardless of source, or (iv) a trust (A) the administration of which is subject to the primary supervision of a U.S. court and which has one or more U.S. persons who have the authority to control all of the substantial decisions of the trust or (B) that has a valid election in effect under applicable U.S. Treasury Regulations to be treated as a domestic trust.

For purposes of this discussion, the term "Non-U.S. Holder" means a beneficial owner of a Note that is not a partnership or other entity treated as a partnership for U.S. federal income tax purposes and is not a U.S. Holder.

If a partnership (including any entity or arrangement treated as a partnership for U.S. federal income tax purposes) holds Notes, the U.S. federal income tax treatment of a partner in the partnership will generally depend upon the status of the partner and the activities of the partnership. Partnerships investing in the Notes and partners in such partnerships are urged to consult their own tax advisors as to the particular U.S. federal income tax considerations applicable to them.

**Treatment of the Notes as Variable Rate Debt Instruments**

As discussed under "The Description of Notes – Interest", the Notes will bear interest at an initial fixed rate during the Fixed Rate Period and then bear interest at a floating rate per annum, reset quarterly, during the Floating Rate Period. Under applicable Treasury Regulations, a debt instrument will qualify as a "variable rate debt instrument" if (a) its issue price does not exceed the total noncontingent principal payments due under the debt instrument by more than a specified *de minimis* amount, (b) the debt instrument provides for stated interest, paid or compounded at least annually, at current value of a single fixed rate and one or more qualified floating rates, and (c) except as described in (a) above, does not provide for any principal payments that are contingent. A "qualified floating rate" is any variable rate where variations in the value of such rate can reasonably be expected to measure contemporaneous variations in the cost of newly borrowed funds in the currency in which the debt instrument is denominated. Under the foregoing definition, the Notes are expected to be treated as variable rate debt instruments for U.S. federal income tax purposes and the discussion below is based on this assumption.

**Original Issue Discount and Qualified Stated Interest**

It is anticipated, and this discussion assumes, that the issue price of the Notes will be equal to the stated principal amount or, if the issue price is less than the stated principal amount, the difference will be a *de minimis* amount (as set forth in the applicable Treasury Regulations). If, however, the issue price of a Note is less than the stated redemption amount at maturity and the difference is more than a *de minimis* amount (as set forth in the applicable Treasury Regulations), then a U.S. holder generally will be required to recognize the difference in income as original issue discount ("**OID**") for U.S. federal income tax purposes as it accrues in accordance with a constant yield method in advance of receiving any cash payments.

The tax treatment of interest depends on whether such interest constitutes "qualified stated interest," referred to herein as "**QSI**." With respect to a debt instrument that provides for a single fixed rate and one or more qualified floating rates, the determination of QSI will depend on market conditions at the time the debt instrument is issued and cannot be determined with certainty in advance. Based upon current market conditions and the manner in which the interest rates on the Notes are determined, we expect that either all of the stated interest on the Notes will be treated as QSI or, to the extent some stated interest is not QSI, that the Notes will nevertheless be treated as having been issued with only *de minimis* OID.

The remainder of this discussion assumes that the stated interest on the Notes will be treated as QSI and the Notes will not be treated as having been issued with more than *de minimis* OID. Holders are urged to consult their own tax advisors regarding the tax consequences to them if the Notes are treated as issued with more than a *de minimis* amount of OID or if the stated interest is not treated as QSI.

**Tax Considerations for U.S. Holders**

**Interest on the Notes**

Generally, payments of stated interest on a Note will be taxable to a U.S. Holder as ordinary income at the time they are received or accrued, depending on the U.S. Holder's method of accounting for U.S. federal income tax purposes.

**Sale, Exchange, Redemption or Other Taxable Disposition of the Notes**

A U.S. Holder generally will recognize gain or loss upon the sale, exchange, redemption or other taxable disposition of a Note in an amount equal to the difference, if any, between the amount realized upon the sale, exchange, redemption or other taxable disposition and the U.S. Holder's adjusted tax basis in the Note. For these purposes, the amount realized does not include any amount attributable to accrued but unpaid interest, which will be taxed as described above under "—Interest on the Notes." Any gain or loss that a U.S. Holder recognizes on a disposition of a Note will generally be capital gain or loss, except to the extent of any accrued interest relating to such U.S. Holder's Notes required to be included in income, and will be long-term capital gain or loss if the U.S. Holder has held the Note for more than one year. Long-term capital gain of U.S. Holders may be eligible for reduced rates of taxation. Such gain or loss will generally be treated as U.S. source income or loss for U.S. foreign tax credit purposes. The deductibility of capital losses is subject to limitations under the Code.

**Tax Considerations for Non-U.S. Holders**

**Payments of Interest**

A Non-U.S. Holder will generally not be subject to U.S. federal income or withholding tax on payments of interest on the Notes provided that (1) such interest is not effectively connected with the conduct of a trade or business within the United States by the Non-U.S. Holder and (2) the Non-U.S. Holder (a) does not actually or constructively own 10% or more of the total combined voting power of all classes of stock of the Issuer entitled to vote, (b) is not a controlled foreign corporation related to the Issuer (within the meaning of the Code), and (c) certifies, under penalties of perjury, to the applicable withholding agent on IRS Forms W-8BEN or W-8BEN-E (or appropriate substitute form) that it is not a U.S. person and that no withholding is required pursuant to the Foreign Account Tax Compliance Act ("*FATCA*") (discussed below), and provides its name, address and certain other required information or certain other certification requirements are satisfied.

If interest on the Notes is not effectively connected with the conduct of a trade or business in the United States by a Non-U.S. Holder but such Non-U.S. Holder cannot satisfy the other requirements outlined in the preceding paragraph, interest on the Notes will generally be subject to U.S. federal withholding tax (currently imposed at a 30% rate), unless the withholding tax rate is reduced or eliminated by an applicable treaty, and such Non-U.S. Holder is a qualified resident of the treaty country and complies with certain certification requirements.

If interest on the Notes is effectively connected with the conduct of a trade or business within the United States by a Non-U.S. Holder and, if required under an applicable treaty, such interest is attributable to a permanent establishment or fixed base within the United States, then the Non-U.S. Holder will generally be subject to U.S. federal income tax on the receipt or accrual of such interest on a net income basis in the same manner as if such holder were a U.S. person and, in the case of a Non-U.S. Holder that is a foreign corporation, may also be subject to an additional branch profits tax (currently imposed at a rate of 30%, or a lower applicable treaty rate) on its effectively connected earnings and profits for the taxable year, subject to adjustments. Any such interest will not also be subject to U.S. federal withholding tax, however, if the Non-U.S. Holder timely provides the withholding agent a properly executed IRS Form W-8ECI in order to claim an exemption from U.S. federal withholding tax.

**Sale, Exchange, Redemption or Other Taxable Disposition of the Notes**

A Non-U.S. Holder will generally not be subject to U.S. federal income tax (or any withholding thereof) with respect to gain, if any, recognized upon the sale, exchange, redemption or other disposition of the Notes (other than any amount representing accrued and unpaid interest on the note, which is subject to the rules discussed above under "—Payments of Interest") unless (1) the gain is effectively connected with the conduct of a trade or business within the United States by the Non-U.S. Holder and, if required under an applicable treaty, is attributable to a permanent establishment or fixed base of the Non-U.S. Holder within the United States, or (2) in the case of a Non-U.S. Holder that is an individual, such holder is present in the United States for 183 or more days in the taxable year in which the sale, exchange, redemption or other disposition of the Notes occurs and certain other conditions are satisfied.

Gain that is effectively connected with the conduct of a trade or business in the United States will generally be subject to U.S. federal income tax on a net income basis (but not U.S. withholding tax), in the same manner as if the Non-U.S. Holder were a U.S. person, and, in the case of a Non-U.S. Holder that is a foreign corporation, may also be subject to an additional branch profits tax (currently imposed at a rate of 30%, or a lower applicable treaty rate) on its effectively connected earnings and profits, subject to adjustments. An individual Non-U.S. Holder who is subject to U.S. federal income tax because the Non-U.S. Holder was present in the United States for 183 days or more during the year of sale, exchange, redemption or other disposition of the Notes will be subject to a flat 30% tax on the gain derived from such sale, exchange, redemption or other disposition, which may be offset by certain U.S.-source capital losses.

**FATCA Withholding**

Pursuant to Sections 1471 through 1474 of the Code, commonly referred to as "FATCA," withholding at a rate of 30% will generally be required in certain circumstances on interest payable on Notes held by or through certain financial institutions (including investment funds), unless such institution (i) enters into, and complies with, an agreement with the IRS to report, on an annual basis, information with respect to interests in, and accounts maintained by, the institution that are owned by certain U.S. persons or by certain non-U.S. entities that are wholly or partially owned by U.S. persons and to withhold on certain payments, or (ii) if required under an intergovernmental agreement between the United States and an applicable foreign country, reports such information to its local tax authority, which will exchange such information with the U.S. authorities. An intergovernmental agreement between the United States and an applicable foreign country, or other guidance, may modify these requirements. Accordingly, the entity through which the Notes are held will affect the determination of whether such withholding is required. Similarly, interest payable on the Notes held by an investor that is a non-financial non-U.S. entity that does not qualify under certain exemptions will generally be subject to withholding at a rate of 30%, unless such entity either (i) certifies that it does not have any "substantial United States owners" or (ii) provides certain information regarding the entity's "substantial United States owners," which will, in turn, be provided to the U.S. Department of the Treasury. Prospective investors are urged to consult their own tax advisors regarding the possible implications of these rules on an investment in the Notes.

**The discussion of U.S. federal income tax considerations set forth above is included for general information only and may not be applicable depending upon a holder's particular situation. Prospective purchasers of the Notes are urged to consult their own tax advisors with respect to the tax consequences to them of the purchase, ownership and disposition of Notes, including the tax consequences under state, local, estate, foreign and other tax laws and the possible effects of changes in U.S. or other tax laws.** 

**CERTAIN ERISA CONSIDERATIONS**

The following is a summary of certain considerations associated with the purchase of the Notes (including interests in a Note) by (a) employee benefit plans that are subject to Title I of the U.S. Employee Retirement Income Security Act of 1974, as amended ("**ERISA**"), (b) plans, individual retirement accounts and other arrangements that are subject to Section 4975 of the Code, (c) entities whose underlying assets are considered for purposes of ERISA and/or Section 4975 of the Code to include "plan assets" of any employee benefit plan, plan, account or arrangement described in preceding clause (a) or (b), or (d) any governmental plan, church plan, non-U.S. plan or other investor whose purchase or holding of the Notes would be subject to provisions under any federal, state, local, non-U.S. or other laws or regulations that are similar to such provisions of ERISA or Section 4975 of the Code (being referred to collectively as "**Similar Laws**") (each entity described in preceding clause (a), (b), (c) or (d), a "**Plan**").

**General Fiduciary Matters**

ERISA imposes certain duties on persons who are fiduciaries of a Plan subject to Title I of ERISA, and ERISA and the Code prohibit certain transactions involving the assets of a Plan subject to Title I of ERISA or Section 4975 of the Code (each a "**Covered Plan**") and its fiduciaries or other interested parties. Under ERISA, any person who exercises any discretionary authority or control over the administration of a Plan subject to Title I of ERISA or the management or disposition of the assets of such Covered Plan, or who renders investment advice for a fee or other compensation to Covered Plan, is generally considered to be a fiduciary of the Covered plan.

In considering an investment in the Notes, a Plan fiduciary should determine whether the investment is in accordance with the documents and instruments governing the Plan and the applicable provisions of ERISA, the Code or any Similar Law relating to a fiduciary's duties to the Plan including, without limitation, the prudence, diversification and prohibited transaction provisions of ERISA, the prohibited transaction provisions of the Code and corresponding provisions under Similar Laws.

**Prohibited Transaction Issues**

Section 406 of ERISA and Section 4975 of the Code prohibit Covered Plans from engaging in specified transactions involving plan assets with persons or entities who are "parties in interest," within the meaning of ERISA, or "disqualified persons," within the meaning of Section 4975 of the Code, unless an exemption is available. A party in interest or disqualified person who engages in a non-exempt prohibited transaction may be subject to excise taxes and other penalties and liabilities under ERISA and the Code. In addition, the fiduciary of the ERISA Plan that engages in such a non-exempt prohibited transaction may be subject to penalties and liabilities under ERISA and the Code, and the transaction may need to be reversed. For example, the acquisition or holding of Notes (including an interest in a Note) by a Plan with respect to which we or an underwriter are considered a party in interest or a disqualified person may constitute or result in a direct or indirect prohibited transaction under Section 406 of ERISA or Section 4975 of the Code, unless the investment is acquired and is held in accordance with an applicable statutory, class or individual prohibited transaction exemption. In this regard, the U.S. Department of Labor has issued certain prohibited transaction class exemptions ("**PTCEs**") that potentially may be available to a Plan purchasing the Notes. These class exemptions include, without limitation, PTCE 84-14, relating to transactions determined by independent qualified professional asset managers, PTCE 90-1, relating to investments by insurance company pooled separate accounts, PTCE 91-38, relating to investments by bank collective investment funds, PTCE 95-60, relating to investments by life insurance company general accounts and PTCE 96-23, relating to transactions determined by in-house asset managers.

In addition, Section 408(b)(17) of ERISA and Section 4975(d)(20) of the Code may provide a limited exemption for the purchase and holding of the Notes, provided that no party in interest, disqualified person or any of their affiliates has or exercises any discretionary authority or control or renders any investment advice with respect to the assets of any Covered Plan involved in the transaction, and, provided, further, that the Covered Plan pays no more, and receives no less, than adequate consideration in connection with the transaction (the so-called "service provider exemption"). These exemptions do not, however, provide relief from the provisions of ERISA and the Code that prohibit self-dealing and conflicts of interest by plan fiduciaries. Each of the above-described exemptions have certain requirements and limitations. There can be no assurance that all of the conditions of any such exemptions or any other exemptions will be satisfied with respect to any or all prohibited transactions that might arise in connection with an investment in the Notes by any particular Covered Plan.

Governmental plans, non-U.S. plans and certain church plans, while not subject to the prohibited transaction provisions of ERISA and Section 4975 of the Code, may nevertheless be subject to Similar Laws that may affect their investment in the Notes. Any fiduciary of such a governmental, non-U.S. or church plan considering an investment in the Notes should consult with its counsel before purchasing Notes (including any interest in a Note) to consider the applicable fiduciary standards and to determine the need for, and, if necessary, the availability of, any exemptive relief under such Similar Laws.

Because of the foregoing, the Notes should not be purchased or held by any person investing "plan assets" of any Plan, unless such purchase and holding will not constitute a non-exempt prohibited transaction under ERISA or Section 4975 of the Code or a violation of any applicable Similar Laws.

**Representation**

By acceptance of a Note (or any interest therein), each purchaser and subsequent transferee of the Note will be deemed to have represented and warranted that, on each day on which such person holds the Note, either (i) it is not a Plan, and no portion of the assets used by such purchaser or transferee to acquire and hold the Notes constitutes assets of any Plan or (ii) the purchase and holding of the Notes by such purchaser or transferee will not constitute or result in a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code or a violation under any applicable Similar Laws, and if the purchaser is a Covered Plan, neither we, the underwriters nor any of our or their affiliates, agents or representatives has acted or will act in a fiduciary capacity with respect to the Covered Plan's investment in the Notes.

The foregoing discussion is general in nature and is not intended to be all-inclusive. Due to the complexity of these rules and the penalties that may be imposed on persons involved in non-exempt prohibited transactions or other violations, it is particularly important that fiduciaries, or other persons considering investing in the Notes on behalf of, or with the assets of, any Plan, consult with their counsel regarding the potential applicability of ERISA, Section 4975 of the Code and any Similar Laws to such investment and whether an exemption would be applicable to the purchase and holding of the Notes (including interests therein). Purchasers of the Notes have exclusive responsibility for ensuring that their purchase and holding of the Notes do not violate the fiduciary or prohibited transaction rules of ERISA, the Code or any Similar Laws. The sale of any Notes to a Plan is in no respect a representation by us or any of our affiliates or representatives that such investment meets all relevant legal requirements with respect to investments by any such Plan generally or any particular Plan, or that such investment is appropriate or advisable for such Plans generally or any particular Plan.

**UNDERWRITING (CONFLICTS OF INTEREST)**

We have entered into an underwriting agreement with Piper Sandler & Co., Keefe, Bruyette & Woods, Inc. and RBC Capital Markets, LLC (collectively, the "underwriters") with respect to the Notes being offered pursuant to this prospectus supplement. Subject to certain conditions, each underwriter has agreed, severally and not jointly, to purchase the aggregate principal amount of Notes set forth next to its name in the following table.

---

| | |
|:---|:---|
| **Underwriters** | **Principal**<br> **Amount<br> of Notes** |
| Piper Sandler & Co. | $90000000 |
| Keefe, Bruyette & Woods, Inc. | $70000000 |
| RBC Capital Markets, LLC | $40000000 |
| **Total** | $200000000 |

---

The underwriting agreement provides that the obligations of the underwriters are subject to certain conditions precedent such as the receipt by the underwriters of officers' certificates and legal opinions and approval of certain legal matters by its counsel. The underwriting agreement provides that the underwriters have agreed, severally and not jointly, to purchase all of the Notes offered hereby if any of them are purchased. If an underwriter defaults, the underwriting agreement provides that the purchase commitments of the non-defaulting underwriters may be increased or the underwriting agreement may be terminated under certain circumstances. We have agreed to indemnify the underwriters against certain liabilities, including liabilities under the Securities Act of 1933, and to contribute to payments that the underwriters may be required to make in respect of those liabilities.

The Notes will constitute a new class of securities with no established trading market. The underwriters have advised us that, following the completion of this offering, they currently intend to make a market in the Notes as permitted by applicable laws and regulations. However, the underwriters are not obligated to do so, and the underwriters may discontinue any market-making activities at any time without notice in their sole discretion. Accordingly, no assurance can be given as to the liquidity of the trading market for the Notes, that you will be able to sell any of the Notes held by you at a particular time or that the prices that you receive when you sell will be favorable.

The underwriters are offering the Notes offered hereby subject to their acceptance of such Notes from us and subject to prior sale. The underwriters reserve the right to withdraw, cancel or modify offers to the public and to reject orders in whole or in part.

**Underwriting Discount and Expenses** 

Notes sold by the underwriters to the public will be offered at the public offering price set forth on the cover of this prospectus supplement. If all of the Notes are not sold at their applicable initial offering prices, the underwriters may change the offering prices and the other selling terms. The offering of the Notes by the underwriters is subject to receipt and acceptance and subject to the underwriters' right to reject any order in whole or in part.

The following table shows the public offering price, the underwriting discount that we are to pay the underwriters and the proceeds, before expenses, to us in connection with this offering (expressed as a percentage of the principal amount of the Notes offered hereby).

---

| | | |
|:---|:---|:---|
|  | **Per<br> Note** | **Total** |
| Public offering price<sup>(1)</sup> | 100.000% | $200000000.00 |
| Underwriting discount paid by us<sup>(2)</sup> | 1.000% | $2000000.00 |
| Proceeds to us, before expenses | 99.000% | $198000000.00 |

---

(1) Plus accrued interest, if any, from December 11, 2025, if settlement occurs after that date.

(2) We have agreed to reimburse the underwriters up to $175,000 for certain expenses in connection
 with this offering. Such reimbursement is deemed underwriter compensation by the Financial Industry Regulatory Authority ("FINRA")
 under FINRA Rule 5110.

We estimate expenses payable by us in connection with this offering, other than the underwriting discount, will be approximately $1.1 million.

We expect that delivery of the Notes will be made against payment therefor on or about December 11, 2025, which will be the second business day following the date of pricing of the Notes, or "T+2"

**No Listing** 

The Notes will not be listed on any securities exchange or included in any automated quotation system.

**No Sale of Similar Securities** 

We have agreed with the underwriters that for a period from the date of the underwriting agreement through and including the date that is the New York Business Day following the Closing Date, we and our subsidiaries will not, without the prior consent of Piper Sandler & Co., Keefe, Bruyette & Woods, Inc. and RBC Capital Markets, LLC, offer, sell, contract to sell or otherwise dispose of any debt securities issued or guaranteed by us or any of our subsidiaries.

**Stabilization** 

In connection with this offering of the Notes, the underwriters may engage in overallotment, stabilizing transactions and syndicate covering transactions. Overallotment involves sales in excess of the offering size, which create a short position for the underwriters. Stabilizing transactions involve bids to purchase the Notes in the open market for the purpose of pegging, fixing or maintaining the price of the Notes. Syndicate covering transactions involve purchases of the Notes in the open market after the distribution has been completed in order to cover short positions. Stabilizing transactions and syndicate covering transactions may cause the price of the Notes to be higher than it would otherwise be in the absence of those transactions. If the underwriters engage in stabilizing or syndicate covering transactions, they may discontinue such activities at any time without notice.

Neither we nor any of the underwriters makes any representation or prediction as to the direction or magnitude of any effect that the transactions described above may have on the price of the Notes. In addition, neither we nor any of the underwriters makes any representation that the underwriters will engage in these transactions or that these transactions, once commenced, will not be discontinued without notice.

**Other Activities and Relationships** 

The underwriters and certain of their affiliates are full service financial institutions engaged in various activities, which may include securities trading, commercial and investment banking, financial advisory, investment management, investment research, principal investment, hedging, financing and brokerage activities. The underwriters or their affiliates have, from time to time, performed, and may in the future perform, various commercial and investment banking and financial advisory services for us and our affiliates, for which they received or will receive customary fees and expenses.

In the ordinary course of their various business activities, the underwriters and certain of their affiliates may make or hold a broad array of investments and actively trade debt and equity securities (or related derivative securities) and financial instruments (including bank loans) for their own account and for the accounts of their customers, and such investment and securities activities may involve securities or instruments issued by us and our affiliates. If the underwriters or their affiliates have a lending relationship with us, they routinely hedge their credit exposure to us consistent with their customary risk management policies. The underwriters and their affiliates may hedge such exposure by entering into transactions which consist of either the purchase of credit default swaps or the creation of short positions in our securities or the securities of our affiliates, including potentially the Notes offered hereby. Any such short positions could adversely affect future trading prices of the Notes offered hereby. The underwriters and their affiliates may also communicate independent investment recommendations, market color or trading ideas or publish or express independent research views in respect of such securities or instruments and may at any time hold, or recommend to clients that they acquire, long or short positions in such securities and instruments.

**Conflicts of Interest**

The Company and Piper Sandler Companies, the parent company of Piper Sandler & Co., an underwriter for this offering, have two 10% or greater shareholders in common. This is deemed a conflict of interest under FINRA Rule 5121. Accordingly, this offering is being made in compliance with the requirements of Rule 5121. Pursuant to Rule 5121, Piper Sandler & Co. will not confirm sales of the Notes to any account over which it exercises discretionary authority without the prior written approval of the customer.

**Selling Restrictions**

*United Kingdom*

The Notes are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the UK. For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client, as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of domestic law of the UK by virtue of the European Union (Withdrawal) Act of 2018; or (ii) a customer within the meaning of the provisions of the Financial Services and Markets Act 2000 (the "FMSA") and any rules or regulations made under the FMSA which were relied on immediately before exit day to implement Directive (EU) 2016/97, where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law of the UK by virtue of the European Union (Withdrawal) Act 2018. Consequently, no key information document required by Regulation (EU) No 1286/2014 as it forms part of domestic law of the UK by virtue of the European Union (Withdrawal) Act 2018 (the "UK PRIIPs Regulation") for offering or selling the Notes or otherwise making them available to retail investors in the UK has been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor in the UK may be unlawful under the UK PRIIPs Regulation.

*Canada* 

The Notes may be sold only to purchasers purchasing, or deemed to be purchasing, as principal that are accredited investors, as defined in National Instrument 45-106 Prospectus Exemptions or subsection 73.l3(1) of the Securities Act (Ontario), and are permitted clients, as defined in National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations. Any resale of the Notes must be made in accordance with an exemption from, or in a transaction not subject to, the prospectus requirements of applicable securities laws.

Securities legislation in certain provinces or territories of Canada may provide a purchaser with remedies for rescission or damages if this prospectus supplement (including any amendment thereto) contains a misrepresentation, provided that the remedies for rescission or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province or territory. The purchaser should refer to any applicable provisions of the securities legislation of the purchaser's province or territory for particulars of these rights or consult with a legal advisor.

Pursuant to section 3A.3 (or, in the case of securities issued or guaranteed by the government of a non-Canadian jurisdiction, section 3A.4) of National Instrument 33-105 Underwriting Conflicts (NI 33-105), the underwriters are not required to comply with the disclosure requirements of NI 33-105 regarding underwriter conflicts of interest in connection with this offering.

**LEGAL MATTERS**

Certain legal matters in connection with this offering will be passed upon for us by our counsel Skadden, Arps, Slate, Meagher & Flom LLP. Certain legal matters in connection with this offering will be passed upon for the underwriters by Hunton Andrews Kurth LLP.

**EXPERTS**

The consolidated financial statements of WSFS and subsidiaries as of December 31, 2024 and 2023, and for each of the years in the three-year period ended December 31, 2024, and management's assessment of the effectiveness of internal control over financial reporting as of December 31, 2024 have been incorporated by reference herein in reliance upon the reports of KPMG LLP, independent registered public accounting firm, incorporated by reference herein, and upon the authority of said firm as experts in accounting and auditing.

**WHERE YOU CAN FIND MORE INFORMATION**

We file annual, quarterly and current reports, proxy statements and other information with the SEC. Our SEC filings are available to the public on the SEC's web site at http://www.sec.gov.

Our website is http://www.wsfsbank.com. We make available on our website, free of charge, access to our periodic and current reports, proxy statements and other information we file with the SEC and amendments thereto as soon as reasonably practicable after we file such material with, or furnish such material to, the SEC, as applicable. The references to our website herein are not intended to be active links and the information on, or that can be accessed through, our website is not, and you must not consider the information to be, a part of this prospectus supplement or any other filings we make with the SEC.

We have filed an automatic shelf registration statement (File No. 333-272862) on Form S-3ASR with the SEC registering the offering of various of our securities, including the Notes offered by this prospectus supplement and the accompanying prospectus. This prospectus supplement and the accompanying prospectus are part of that registration statement. The registration statement may contain additional information that may be important to you. You may obtain from the SEC copies of the registration statement and the related exhibits that we filed with the SEC.

**PROSPECTUS** 

**WSFS Financial Corporation** 

**Senior Debt Securities** 

**Subordinated Debt Securities** 

**Preferred Stock** 

**Depositary Shares** 

**Common Stock** 

**Warrants** 

**Stock Purchase Contracts** 

**Units** 

We may offer and sell from time to time, in one or more series, our senior and subordinated debt securities, shares of our preferred stock, depositary shares, shares of our common stock, warrants to purchase other securities, stock purchase contracts, or units consisting of a combination of two or more of these securities. The securities listed above may be offered by us and/or may be offered and sold, from time to time, together or separately, in one or more offerings, by one or more selling stockholders to be identified in the future. The securities we may offer may be convertible into or exchangeable for other securities. Each time we offer any securities pursuant to this prospectus, we will provide you with a prospectus supplement that will describe the specific amounts, prices and terms of the securities being offered and the specific manner in which they may be offered. You should read this prospectus, the information incorporated by reference in this prospectus, the applicable prospectus supplement, including any information incorporated by reference therein, and any applicable free writing prospectus carefully before you invest in the securities described in the applicable prospectus supplement.

Our common stock is listed on the Nasdaq Stock Market and trades under the ticker symbol "WSFS".

We may offer and sell these securities to or through one or more underwriters, dealers and agents, directly to purchasers or through a combination of these methods, on a continuous or delayed basis from time to time. The names of any underwriters, dealers or agents involved in the distribution of our securities, their compensation and any option they hold to acquire additional securities will be described in the applicable prospectus supplement. Net proceeds from the sale of securities will be set forth in the applicable prospectus supplement.

This prospectus may not be used to sell securities unless accompanied by the applicable prospectus supplement. If there is any inconsistency between the information in this prospectus and any prospectus supplement, you should rely on the information in the prospectus supplement.

**Investing in our securities involves certain risks. See "Risk Factors" beginning on page 8 of this prospectus and contained in our most recent Annual Report on Form 10-K and in each subsequently filed Quarterly Report on Form 10-Q, which are incorporated herein by reference, as well as any risk factors included in, or incorporated by reference into, the applicable prospectus supplement, to read about factors you should consider before buying any securities issued by us.** 

**These securities are not savings accounts, deposits or other obligations of any of our bank and non-bank subsidiaries and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.**

**None of the United States Securities and Exchange Commission, any state securities commission, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency or any other regulatory body has approved or disapproved of these securities or determined if this prospectus is accurate or complete. Any representation to the contrary is a criminal offense.** 

**The date of this prospectus is June 23, 2023.** 

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
|  | **Page** |
| [ABOUT THIS PROSPECTUS](#e23287a_001) | 2 |
| [WHERE YOU CAN FIND MORE INFORMATION](#e23287a_002) | 3 |
| [FORWARD-LOOKING STATEMENTS](#e23287a_003) | 4 |
| [THE COMPANY](#e23287a_004) | 6 |
| [RISK FACTORS](#e23287a_005) | 7 |
| [USE OF PROCEEDS](#e23287a_006) | 8 |
| [LEGAL MATTERS](#e23287a_007) | 8 |
| [EXPERTS](#e23287a_008) | 8 |

---

**ABOUT THIS PROSPECTUS**

This prospectus is part of an automatic shelf registration statement that we filed with the United States Securities and Exchange Commission (the "SEC"), as a "well-known seasoned issuer," as defined under Rule 405 under the Securities Act of 1933, as amended (the "Securities Act"). Under this automatic shelf registration statement, we may offer and sell from time to time, separately or together, any combination of senior debt securities, subordinated debt securities, preferred stock, depositary shares, common stock, warrants, stock purchase contracts and units in one or more offerings up to an indeterminate aggregate dollar amount. The debt securities, preferred stock, warrants, stock purchase contracts and units may be convertible into, or exercisable or exchangeable for, common or preferred stock or other securities issued by us.

Each time we and/or one or more selling stockholders offer and sell securities, we will provide a prospectus supplement that will contain specific information about the terms of that offering. The prospectus supplement may also add, update or change information contained in this prospectus. You should read this prospectus and the applicable prospectus supplement together with the additional information described under the heading "Where You Can Find More Information." We may also prepare free writing prospectuses that describe particular securities. Any free writing prospectus should also be read in connection with this prospectus and with any prospectus supplement referred to therein. For purposes of this prospectus, any reference to an applicable prospectus supplement may also refer to a free writing prospectus, unless the context otherwise requires. Unless otherwise indicated or the context requires otherwise, references to "we," "us," "our," "WSFS," "registrant" or similar terms are to WSFS Financial Corporation, a Delaware corporation, and its subsidiaries.

The registration statement of which this prospectus forms a part, including the exhibits to the registration statement, contains additional information about us and the securities offered under this prospectus. The registration statement can be obtained from the SEC's website, www.sec.gov. Copies of certain information filed by us with the SEC are also available on our website at www.wsfsbank.com. The reference to our website is not intended to be an active link and the information on, or that can be accessed through, our website is not, and you must not consider the information to be, a part of this prospectus or any other filings we make with the SEC.

The distribution of this prospectus and any applicable prospectus supplement and the offering of the securities in certain jurisdictions may be restricted by law. Persons who obtain this prospectus and any applicable prospectus supplement should inform themselves about, and observe, any such restrictions. This prospectus and any applicable prospectus supplement do not constitute, and may not be used in connection with, an offer or solicitation by anyone in any jurisdiction in which such offer or solicitation is not permitted or in which the person making such offer or solicitation is not qualified to do so or to any person to whom it is unlawful to make such offer or solicitation.

**WHERE YOU CAN FIND MORE INFORMATION**

We file annual, quarterly and current reports, proxy statements and other information with the SEC. Our SEC filings are available to the public on the SEC's website at www.sec.gov.

The SEC allows us to "incorporate by reference" into this prospectus the information in documents we file with the SEC, which means that we can disclose important information to you by referring you to those documents. The information incorporated by reference is considered to be a part of this prospectus and should be read with the same care. When we update the information contained in documents that have been incorporated by reference, by making future filings with the SEC, the information incorporated by reference into this prospectus is considered to be automatically updated and superseded. In other words, in all cases, if you are considering whether to rely on information contained in this prospectus or information incorporated by reference into this prospectus, you should rely on the information contained in the document that was filed later. We incorporate by reference (other than any information furnished to, rather than filed with, the SEC, unless expressly stated otherwise therein) the documents listed below, which are considered to be a part of this prospectus:

&nbsp;&nbsp;&nbsp;&nbsp;· our
 Annual Report on [Form 10-K](https://www.sec.gov/ix?doc=/Archives/edgar/data/828944/000162828023005573/wsfs-20221231.htm) for the year ended December 31, 2022 filed with the SEC on February
 28, 2023 (including the portions of our Definitive Proxy Statement on [Schedule 14A](https://www.sec.gov/ix?doc=/Archives/edgar/data/828944/000155278123000196/e23061_wsfs-def14a.htm) , filed
 with the SEC on March 28, 2023, incorporated by reference therein);

&nbsp;&nbsp;&nbsp;&nbsp;· our
 Quarterly Report on [Form 10-Q](https://www.sec.gov/ix?doc=/Archives/edgar/data/828944/000162828023016074/wsfs-20230331.htm) for the quarter ended March 31, 2023, filed with the SEC on
 May 5, 2023;

&nbsp;&nbsp;&nbsp;&nbsp;· our
 Current Reports on Form 8-K (other than any items, exhibits or portions thereof furnished
 to, rather than filed with, the SEC) filed with the SEC on [February 28, 2023](https://www.sec.gov/ix?doc=/Archives/edgar/data/828944/000155278123000063/e23072_wsfs-8k.htm) and [May 19, 2023](https://www.sec.gov/ix?doc=/Archives/edgar/data/828944/000162828023019007/wsfs-20230516.htm) ; and

&nbsp;&nbsp;&nbsp;&nbsp;· the
 description of our common stock, par value $0.01 per share, contained in our Registration
 Statement on Form 8-A filed with the SEC pursuant to Section 12(b) of the Securities Exchange
 Act of 1934, as amended (the "Exchange Act") on July 7, 1989, including any amendment
 or report filed with the SEC for the purpose of updating such description.

All reports and other documents we subsequently file with the SEC under Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act until our offering is completed will also be incorporated by reference into this prospectus and deemed to be part hereof (other than any information furnished to, rather than filed with, the SEC, unless expressly stated otherwise therein). The most recent information that we file with the SEC automatically updates and supersedes older information. The information contained in any such filing will be deemed to be a part of this prospectus commencing on the date on which the document is filed.

Any documents incorporated by reference into this prospectus are available without charge to you on the Internet at www.wsfsbank.com or upon written or oral request by contacting Investor Relations, WSFS Financial Corporation, WSFS Bank Center, 500 Delaware Avenue, Wilmington, Delaware 19801, (302) 792-6000. The reference to our website is not intended to be an active link and the information on, or that can be accessed through, our website is not, and you must not consider the information to be, a part of this prospectus or any other filings we make with the SEC.

Neither we nor any underwriter or agent have authorized anyone else to provide you with additional or different information. We may only use this prospectus to sell securities if it is accompanied by a prospectus supplement. We are only offering these securities in jurisdictions where the offer is permitted. You should not assume that the information in this prospectus or the applicable prospectus supplement or any document incorporated by reference is accurate as of any date other than the dates of the applicable documents.

**FORWARD-LOOKING STATEMENTS**

Certain statements included or incorporated by reference in this prospectus and each prospectus supplement contain estimates, predictions, opinions, projections and other "forward-looking statements" as that phrase is defined in the Private Securities Litigation Reform Act of 1995. Such statements include, without limitation, references to our predictions or expectations of future business or financial performance as well as our goals and objectives for future operations, financial and business trends, business prospects and management's outlook or expectations for earnings, revenues, expenses, capital levels, liquidity levels, asset quality or other future financial or business performance, strategies or expectations. The words "believe," "expect," "anticipate," "plan," "estimate," "target," "project" and similar expressions, among others, generally identify forward-looking statements. Such forward-looking statements are based on various assumptions (some of which may be beyond our control) and are subject to risks and uncertainties (which change over time) and other factors which could cause actual results to differ materially from those currently anticipated. Such risks and uncertainties include, but are not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;· difficult
 market conditions and unfavorable economic trends in the United States generally and in financial
 markets, particularly in the markets in which we operate and in which our loans are concentrated,
 including difficult and unfavorable conditions and trends related to housing markets, costs
 of living, unemployment levels, interest rates, supply chain issues, inflation, and economic
 growth;

&nbsp;&nbsp;&nbsp;&nbsp;· the
 impacts related to or resulting from recent bank failures and other economic and industry
 volatility, including potential increased regulatory requirements and costs and potential
 impacts to macroeconomic conditions;

&nbsp;&nbsp;&nbsp;&nbsp;· possible
 additional loan losses and impairment of the collectability of loans;

&nbsp;&nbsp;&nbsp;&nbsp;· our
 level of nonperforming assets and the costs associated with resolving problem loans including
 litigation and other costs and complying with government-imposed foreclosure moratoriums;

&nbsp;&nbsp;&nbsp;&nbsp;· changes
 in market interest rates, which may increase funding costs and reduce earning asset yields
 and thus reduce margin;

&nbsp;&nbsp;&nbsp;&nbsp;· the
 impact of changes in interest rates and the credit quality and strength of underlying collateral
 and the effect of such changes on the market value of our investment securities portfolio;

&nbsp;&nbsp;&nbsp;&nbsp;· the
 credit risk associated with the substantial amount of commercial real estate, construction
 and land development, and commercial and industrial loans in our loan portfolio;

&nbsp;&nbsp;&nbsp;&nbsp;· the
 extensive federal and state regulation, supervision and examination governing almost every
 aspect of our operations, potential expenses associated with complying with such regulations,
 and the effects of potential federal government shutdowns or delays;

&nbsp;&nbsp;&nbsp;&nbsp;· our
 ability to comply with applicable capital and liquidity requirements, including our ability
 to generate liquidity internally or raise capital on favorable terms;

&nbsp;&nbsp;&nbsp;&nbsp;· possible
 changes in trade, monetary and fiscal policies and stimulus programs, laws and regulations
 and other activities of governments, agencies, and similar organizations, and the uncertainty
 of the short- and long-term impacts of such changes;

&nbsp;&nbsp;&nbsp;&nbsp;· any
 impairments of our goodwill or other intangible assets;

&nbsp;&nbsp;&nbsp;&nbsp;· the
 discontinued publication of London Inter-Bank Offered Rate ("LIBOR") and the
 transition to an alternative reference interest rate, such as the Secured Overnight Financing
 Rate, including methodologies for calculating the rate that are different from the LIBOR
 methodology and changed language for existing and new floating or adjustable rate contracts;

&nbsp;&nbsp;&nbsp;&nbsp;· the
 success of our growth plans, including our plans to grow the commercial small business leasing,
 residential, small business and Small Business Administration portfolios and wealth management
 business;

&nbsp;&nbsp;&nbsp;&nbsp;· our
 ability to successfully integrate and fully realize the cost savings and other benefits of
 our acquisitions, manage risks related to business disruption following those acquisitions,
 and post-acquisition Customer acceptance of our products and services and related Customer
 disintermediation;

&nbsp;&nbsp;&nbsp;&nbsp;· negative
 perceptions or publicity with respect to us generally and, in particular, our trust and wealth
 management business;

&nbsp;&nbsp;&nbsp;&nbsp;· failure
 of the financial and operational controls of our Cash Connect<sup>®</sup> division;

&nbsp;&nbsp;&nbsp;&nbsp;· adverse
 judgments or other resolution of pending and future legal proceedings, and cost incurred
 in defending such proceedings;

&nbsp;&nbsp;&nbsp;&nbsp;· our
 reliance on third parties for certain important functions, including the operation of our
 core systems, and any failures by such third parties;

&nbsp;&nbsp;&nbsp;&nbsp;· system
 failures or cybersecurity incidents or other breaches of our network security, particularly
 given widespread remote working arrangements;

&nbsp;&nbsp;&nbsp;&nbsp;· our
 ability to recruit and retain key Associates;

&nbsp;&nbsp;&nbsp;&nbsp;· the
 effects of problems encountered by other financial institutions that adversely affect us
 or the banking industry generally;

&nbsp;&nbsp;&nbsp;&nbsp;· the
 effects of weather, including climate change, and natural disasters such as floods, droughts,
 wind, tornadoes and hurricanes as well as effects from geopolitical instability, armed conflicts,
 public health crises and man-made disasters including terrorist attacks;

&nbsp;&nbsp;&nbsp;&nbsp;· the
 effects of regional or national civil unrest (including any resulting branch or ATM closures
 or damage);

&nbsp;&nbsp;&nbsp;&nbsp;· possible
 changes in the speed of loan prepayments by our Customers and loan origination or sales volumes;

&nbsp;&nbsp;&nbsp;&nbsp;· possible
 changes in the speed of prepayments of mortgage-backed securities due to changes in the interest
 rate environment and the related acceleration of premium amortization on prepayments in the
 event that prepayments accelerate;

&nbsp;&nbsp;&nbsp;&nbsp;· regulatory
 limits on our ability to receive dividends from our subsidiaries and pay dividends to our
 stockholders;

&nbsp;&nbsp;&nbsp;&nbsp;· any
 reputation, credit, interest rate, market, operational, litigation, legal, liquidity, regulatory
 and compliance risk resulting from developments related to any of the risks discussed above;

&nbsp;&nbsp;&nbsp;&nbsp;· any
 compounding effects or unexpected interaction of the risks discussed above; and

&nbsp;&nbsp;&nbsp;&nbsp;· other
 risks and uncertainties, including those discussed in our Annual Report on Form 10-K for
 the year ended December 31, 2022, Quarterly Report on Form 10-Q for the quarter ended March
 31, 2023 and in other documents filed with the SEC from time to time.<br>

We caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. We disclaim any duty to revise or update any forward-looking statement, whether written or oral, that may be made from time to time by us or on our behalf for any reason, except as specifically required by law.

**Additional information regarding important factors that could cause actual results to differ, perhaps materially, from those in our forward-looking statements is contained under "Risk Factors" in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, which are incorporated in this prospectus by reference (and in any of our documents with the SEC that are so incorporated). See "Where You Can Find More Information" above for information about how to obtain a copy of these documents.**

**THE COMPANY**

WSFS Financial Corporation is a savings and loan holding company headquartered in Wilmington, Delaware. Substantially all of our assets are held by our subsidiary, Wilmington Savings Fund Society, FSB ("WSFS Bank" or the "Bank"), one of the ten oldest bank and trust companies continuously operating under the same name in the United States. With $20.3 billion in assets and $65.6 billion in assets under management and assets under administration at March 31, 2023, WSFS Bank is the oldest and largest locally-managed bank and trust company headquartered in the Greater Philadelphia and Delaware region. As a federal savings bank that was formerly chartered as a state mutual savings bank, WSFS Bank enjoys a broader scope of permissible activities than most other financial institutions.

A fixture in the community, we have been in operation for more than 190 years. In addition to our focus on stellar customer experiences, we have continued to fuel growth and remain a leader in our community. We are a relationship-focused, locally-managed, community banking institution. Our mission is simple: "We Stand for Service." Our strategy of "Engaged Associates, living our culture, enriching the Communities we serve" focuses on exceeding customer expectations, delivering stellar experiences and building customer advocacy through highly-trained, relationship-oriented, friendly, knowledgeable and empowered Associates.

WSFS is a separate and distinct legal entity from our banking and other subsidiaries. A significant source of funds to pay dividends on our common stock and service our debt is dividends from our subsidiaries. Various federal and state statutes and regulations limit the amount of dividends that our banking and other subsidiaries may pay to us without regulatory approval.

Our common stock is listed on the Nasdaq Stock Market under the symbol "WSFS". Our principal executive office is located at 500 Delaware Avenue, Wilmington, Delaware, 19801, and our main telephone number is (302) 792-6000.

Additional information about us and our subsidiaries is included in the documents incorporated by reference in this prospectus. See "Where You Can Find More Information."

**RISK FACTORS**

Investing in securities issued by us involves certain risks. Before you invest in any securities issued by us, in addition to the other information included in, or incorporated by reference into, this prospectus, as well as the information contained in any applicable prospectus supplement, you should carefully consider the risk factors contained in Part I, Item 1A under the caption "Risk Factors" and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2022 and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, which are incorporated by reference into this prospectus, as updated by our Annual or Quarterly Reports for subsequent fiscal years or fiscal quarters that we file with the SEC and that are so incorporated. See "Where You Can Find More Information" for information about how to obtain a copy of these documents. You should also carefully consider the risks and other information that may be contained in, or incorporated by reference into, any prospectus supplement relating to specific offerings of securities. Additional risks and uncertainties not presently known to us or that we currently deem immaterial may also materially and adversely affect our business, financial condition and results of operations.

**USE OF PROCEEDS**

We intend to use the net proceeds from the sales of the securities in the manner and for the purposes set forth in the applicable prospectus supplement, which may include general corporate purposes.

**LEGAL MATTERS**

Unless otherwise indicated in the applicable prospectus supplement, the validity of the securities will be passed upon for us by Covington & Burling LLP. If legal matters are passed upon for the underwriters, dealers or agents, if any, such counsel will be named in the prospectus supplement relating to such offering.

**EXPERTS**

Our consolidated financial statements as of December 31, 2022 and 2021, and for each of the years in the three-year period ended December 31, 2022, and management's assessment of the effectiveness of internal control over financial reporting as of December 31, 2022 have been incorporated by reference herein in reliance upon the reports of KPMG LLP, independent registered public accounting firm, incorporated by reference herein, and upon the authority of said firm as experts in accounting and auditing.

**$200,000,000**

![](image_001.jpg)

**WSFS Financial Corporation**

**5.375% Fixed-to-Floating Rate Senior Unsecured Notes due 2035**

**PROSPECTUS SUPPLEMENT**

*Joint Book-Running Managers*

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| | | |
|:---|:---|:---|
| **Piper Sandler** | <br> **Keefe, Bruyette & Woods,** *<br> A Stifel Company* | **RBC Capital Markets** |

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December 9, 2025

## Ex-Filing

?xml version='1.0' encoding='ASCII'? EX-FILING FEES

**Exhibit 107**

**Calculation of Filing Fee Table**

**FORM 424(b)(5)**

(Form Type)

 **WSFS Financial Corporation**

(Exact Name of Registrant as Specified in its Charter)

**<u>Table 1 – Newly Registered Securities</u>**

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Security Type | Security Class Title | Amount Registered | Proposed Maximum Offering Price Per Unit | Maximum Aggregate Offering Price | Fee Rate | Amount of Registration Fee |
| Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities |
| Fees to be Paid | Debt | 5.375% Senior Unsecured Notes due 2035 Rule 457(o)<sup>(1)</sup> | $200000000 | 100% | $200000000 | 0.00013810 | $27620.00 |
| Fees Previously Paid |  |  |  |  |  |  |  |
|  | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** |  | $200000000 |  | $27620.00 |
|  | **Total Fees Previously Paid** | **Total Fees Previously Paid** | **Total Fees Previously Paid** |  |  |  | $0.00 |
|  | **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** |  |  |  | $0.00 |
|  | **Net Fee Due** | **Net Fee Due** | **Net Fee Due** |  |  |  | $27620.00 |

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&nbsp;&nbsp;&nbsp;&nbsp;(1) This "Calculation of Filing Fee" table shall be deemed to update the "Calculation of Filing Fee"
table in the registrant's Registration Statement on Form S-3 (File No. 333-272862), filed with the U.S. Securities and Exchange
Commission on June 23, 2023, in accordance with Rule 457(o) under the Securities Act of 1933.