Hilary Burns

The company said it could use proceeds to fund organic growth or acquisitions.

The company said that Michael Segner had also succeeded Stephen Mourlam as its president.

Organizers of new banks want to cater to underbanked minorities, entrepreneurs, military veterans and other specialized groups.

The move is important for new banks in states like California, where a small-business lending program requires a three-star rating from the agency.

Eagle Bancorp Montana is gaining four branches and $94 million in deposits with its $19 million purchase of Big Muddy Bancorp.

Hanmi Financial in Los Angeles will pay more of the deal price in cash, prompting SWNB Bancorp to postpone its shareholder vote.

The first meeting is structured like a job interview. After that, organizers should expect plenty of questions about money, management and markets.

Keith Mestrich, who runs the union-founded bank, plans to use a more liquid stock to pursue acquisitions in cities such as Boston, Seattle and Los Angeles.

Merger announcements typically follow a tried-and-true formula of cutting costs to boost profit. WSFS, however, plans to reinvest $32 million in new tech initiatives after buying Beneficial.

While most acquirers are content to let cost savings trickle down to the bottom line, WSFS will use the purchase of Beneficial to reinvent itself.