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Beneficial Mutual Bancorp, Inc. operated Beneficial Bank, a full-service bank whose assets totaled approximately $5 billion upon its acquisition by WSFS in 2019. Founded in 1853, Beneficial was the oldest and largest bank headquartered in Philadelphia, with more than 58 locations throughout Pennsylvania and South Jersey. [1]
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The bank quickly began to expand by adding services and branches, and moving into larger headquarters buildings. By the late 1910s, PSFS had the most depositors of any savings bank in the United States; it was second to the Emigrant Savings Bank in the amount of money deposited. PSFS began programs in the 1920s that encouraged children to put ...
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The bank spent millions of dollars modernizing the building and converting the former department store floors to banking space. [15] [16] Among the changes was the addition of a sign with the bank's initials in 1955. [17] The bank officially opened in what was now called the PNB Building on January 16, 1956.
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There’s just one bank holiday left in 2024 — Christmas, which falls on Wednesday, Dec. 25. But it’s followed by two more in January: New Year’s Day: Wednesday, Jan. 1, 2025