Beneficial Completes Deal, Hires Chief Retail Officer

Beneficial Mutual Bancorp (BNCL) in Philadelphia said Friday that it has completed its acquisition of hometown rival SE Financial and that SE Financial's former president and chief executive, Pamela Cyr, has joined Beneficial as its chief retail officer.

Cyr has more than 20 years of financial services experience and had been SE Financial's president and CEO since 2005. Prior to that, she was the chief financial officer at Susquehanna Patriot Bank.

Beneficial announced in December that it was buying the $303 million-asset SE Financial, the parent of St. Edmonds Federal Savings Bank, for about $30.6 million. The acquisition gives Beneficial five additional branches in the Philadelphia market and increases its assets to nearly $5 billion.

In connection with the acquisition, Beneficial said the Executive Vice President Denise Kassekert would be leaving the company to pursue other opportunities, effective June 15.