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Beneficial Bank Expands Credit and Lending Teams

PHILADELPHIA, Pa., October 25, 2011 – Beneficial Mutual Bancorp, Inc., the parent company of Beneficial Bank, today announced that it has expanded its credit and lending teams. The Bank appointed Jim Gould as Executive Vice President, Chief Lending Officer, Marty Gallagher as Senior Vice President, Chief Credit Officer and Brian Myers as Director of Mortgage Banking. In addition, Beneficial added seven mortgage loan officers, two portfolio managers and a commercial lending officer.

"We are pleased to welcome these employees to Beneficial Bank and look forward to the value they will bring to the company as they help extend our lending and business banking capabilities," said Gerry Cuddy, Beneficial Bank President & CEO. "Our new team will assist borrowers in navigating the changing credit landscape while bringing reassurance and guidance to the lending process. We are confident that the new lending division will substantially contribute to Beneficial's continued stability and growth."

Gould previously served as Managing Director of Private Banking for Wilmington Trust Bank, now part of M&T Bank Corporation. At Beneficial, Gould directs and oversees all of the Bank's lending operations in Pennsylvania and New Jersey with a specific focus on growing Beneficial's middle market commercial lending team. He holds a bachelor's degree from Arkansas State University.

Before joining Beneficial, Gallagher managed the Commercial Banking Division for The Bryn Mawr Trust Company. At Beneficial Gallagher is responsible for overseeing the Bank's credit and portfolio management disciplines, with specific focus on enhancing infrastructures to support lending portfolio growth. Gallagher holds a master of business administration and a bachelor's degree from St. Joseph's University.

Myers launched Sun Home Loans, Inc., a wholly owned subsidiary of Sun National Bank, prior to joining Beneficial. At Beneficial, he is responsible for directing sales of residential mortgages and oversees the conceptualization of all residential mortgage products for the Bank. He holds a bachelor's degree from William Paterson University.

Janet Helms, Vice President, Senior Portfolio Management Specialist, and Alex Kresge, Senior Portfolio Manager have been named as Beneficial's two credit and lending portfolio managers. Anthony Murphy, Vice President, Commercial Lending has joined the team to help grow the Bank's commercial lending initiatives.

Beneficial's seven new mortgage loan officers are:

  • Mitchell Freedman
  • Stephen D'Agostino 
  • Mike Crudello 
  • Giancarlo Gatto 
  • John Maffei 
  • Crystal Swander 
  • Bob Carucci

For more information about Beneficial Bank, please visit www.thebeneficial.com or www.thebeneficial.com/business.

About Beneficial Bank

Founded in 1853, Beneficial Bank is the oldest and largest bank headquartered in Philadelphia. It is a community-based, full-service financial services company that has served individuals and businesses in the Delaware Valley for 158 years. With 60 offices in the greater Philadelphia and South Jersey regions and $4.7 billion in assets, Beneficial offers a full array of financial products that includes commercial, consumer and real estate lending, insurance and wealth management. Visit www.thebeneficial.com for more information.

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1818 Beneficial Bank Place
1818 Market Street
Philadelphia, PA 19103

The use of non-secure email is intended for general questions, inquiries and comments only. Confidential Customer information cannot be accepted electronically.

Routing No: 236075689

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