- WSFS Financial (NASDAQ:WSFS) said Thursday it sold BMT Insurance Advisors, an independent insurance brokerage and risk management consulting firm, to Patriot Growth Insurance Services.
- The deal, which includes an offer for continued employment for all BMTIA associates, is not expected to materially impact future earnings.
- "We evaluated many factors when making this decision... Our focus is on long-term organic growth opportunities for the bank, wealth and trust business, and our other strategic fee-based businesses," said WSFS CFO Dominic Canuso.
- The deal closed on Jun. 30.
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