May 18, 2007
Beneficial Initiates Public Stock Offering
Beneficial Mutual Bancorp, Inc., parent company of Beneficial Mutual Savings Bank, initiated its Minority Public Stock Offering today, with the mailing of a prospectus, and related documentation to eligible depositors.
The subscription offering will end on June 11, 2007. Approvals have been received from both the Office of Thrift Supervision and the Pennsylvania Department of Banking. The offering is being made in connection with Beneficial's planned merger with FMS Financial Corporation, the parent company of Farmers & Mechanics Bank of Burlington New Jersey. It is anticipated that the stock issuance and the merger will be completed in mid-July.