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Monday, May 20, 2019

Bank of Princeton completes purchase of former WSFS-Beneficial branches

The Bank of Princeton announced that it has successfully completed the previously announced acquisition of five branches located in Bordentown, Browns Mills, Chesterfield, Deptford, and Sicklerville, in New Jersey. The branches were part of Beneficial...

Three nonprofits to offer program for businesses that may not qualify for conventional...

A new, statewide partnership aims to  aid economic development in Delaware. FINANTA, SeedcoDE and West End Neighborhood House are teaming up to create a  one-stop shop for businesses that want to start or expand,...

State Farm cuts vehicle insurance rates for 2nd year in a row

One of the state's largest auto insurers announced a rate cut. State Farm will cut its auto rates in Delaware for the second year in a row. The overall personal auto rate will drop by 5.1...

Chemours earnings decline as titanium market softens & start-up costs put dent in...

The Chemours Company, Wilmington, reported lower earnings and revenues  in the first quarter. "Our results in Q1 were consistent with our expectations for a slower start to 2019," said Chemours CEO Mark Vergnano. "Our performance...

New York-based fintech buys Delaware Board of Trade

Ideanomics  a New York-based financial technology company has acquired an additional 71.7 percent stake in Wilmington-based Delaware Board of Trade Holdings, Inc. Ideanomics now owns 98.4 percent of the trading platform and related companies. The acquisition is valued...

Homeowner’s insurance rate rise in Delaware among lowest in nation

Delaware ranked 40th among the 50 states when it came to increases in homeowners insurance  rates.  The report was issued by QuoteWizard, a part of the Lending Tree group of companies. Every state saw an increase...

WSFS 1st quarter net declines due to  costs arising from  Beneficial buyout

 WSFS Financial Corporation  the parent company of WSFS Bank, reported lowest net income in the first quarter, due to costs related to the acquisition of Beneficial Bank. Earnings totaled  $13 million compared to net income...

WSFS rebrands, combines former Beneficial equipment finance units

  NewLane Finance is the new name of WSFS Bank's equipment financing business division following the combination of Neumann Finance  and Beneficial Equipment Finance Corporation.  On March 1,  WSFS Bank's parent company, WSFS Financial Corporation completed...

M&T to add 200 technology jobs in Wilmington

M&T Bank will add 200  positions in Wilmington as part of an announced plan to hire more than 1,000 technologists in coming years.   The hiring will bolster Wilmington's status as a financial technology "fintech" hub...

New state auditor reports progress in first 100 days

State Auditor Kathleen  McGuiness issued a report detailing her first 100 days in office. In a release, she measures taken since her inauguration designed to "reset the Auditors Office." The office had come under fire over...