WSFS Bank appoints Frank McGrane as executive vice president, CCO

WILMINGTON, Del. - WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq:WSFS), a $3.34 billion market cap financial institution with a strong track record of 28 consecutive years of dividend payments, announced Wednesday the appointment of Frank McGrane as Executive Vice President and Chief Credit Officer (CCO). According to InvestingPro data, the bank maintains a healthy P/E ratio of 13.2 and has demonstrated robust financial health.

McGrane, who previously served as the bank’s Deputy Chief Credit Officer, will report to Christine Davis, Executive Vice President and Chief Risk Officer. He succeeds Liam Brickley, who is retiring from the position.

In his new role, McGrane will oversee WSFS Bank’s commercial, consumer and other credit exposures, as well as loan policies and procedures.

"Frank’s decades of experience with credit risk and lending make him a natural fit to oversee WSFS’ credit exposures," Davis said in a statement.

McGrane brings nearly 40 years of banking experience in middle market and corporate relationship management, portfolio management, and credit risk administration. Throughout his career, he has held leadership positions at several financial institutions including Citizens Bank, Mellon Bank, Chemical Bank New Jersey, and Irving Trust Company.

He holds an MBA from the University of Notre Dame and studied computers and information systems at King’s College. McGrane is a member of the Risk Management Association and volunteers with several organizations including Covenant House of Pennsylvania.

WSFS Financial Corporation reported $20.5 billion in assets as of March 31, 2025, with $89.6 billion in assets under management and administration. The company operates 115 offices across six states, with 88 of those being banking offices. InvestingPro analysis indicates the stock is currently trading below its Fair Value, presenting a potential opportunity for investors. Get access to the complete WSFS Financial analysis and 1,400+ other detailed Pro Research Reports through an InvestingPro subscription.

The information in this article is based on a press release from WSFS Bank.

In other recent news, WSFS Financial Corporation reported its first-quarter earnings for 2025, revealing an earnings per share (EPS) of $1.13, surpassing analyst forecasts of $1.04. However, the company’s revenue slightly missed expectations, coming in at $256.1 million compared to a forecast of $256.6 million. WSFS Financial also completed the sale of a significant portion of its unsecured consumer loan portfolio originated through Upstart Holdings, with an outstanding balance of $98.1 million as of May 31, 2025. This transaction is expected to result in a net charge-off of approximately $4.3 million and a provision release of about $4.8 million. Keefe, Bruyette & Woods maintained a Market Perform rating on WSFS Financial, citing the bank’s strong market positioning and robust returns. WSFS Bank announced the appointment of Allan Matyger as the new Executive Vice President and Chief Information Officer, while Rebecca Seeman was named Senior Vice President and Chief Operating Officer of Consumer Banking. These appointments are part of WSFS Bank’s strategy to enhance its service and operational efficiency.

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