PHILADELPHIA, Nov 30, 2009 (BUSINESS WIRE) -- Beneficial Mutual Bancorp, Inc. (NASDAQ:BNCL), the parent company of Beneficial Bank, today announced that the Company's Board of Directors has appointed Karen D. Buchholz and Donald F. Gayhardt, Jr. to serve as directors of the Company. In connection with their appointment, Ms. Buchholz and Mr. Gayhardt were also appointed as trustees of the Bank and as directors of Beneficial Savings Bank MHC, the Company's parent mutual holding company.
"We are pleased to welcome Ms. Buchholz and Mr. Gayhardt to the Board and look forward to working with them to build shareholder value," stated Gerard P. Cuddy, the President and Chief Executive Officer of the Company, the Bank and the MHC.
Karen Dougherty Buchholz, Vice President of Administration for Comcast Corporation, leads a variety of corporate responsibilities, including facilities, real estate, corporate services, security, aviation, travel and diversity. She currently serves as the executive in charge of Comcast's new Corporate Headquarters, the Comcast Center. From 2000 to 2003, Buchholz served as Comcast's first Vice President of Corporate Communications, with responsibility for building a corporate communications infrastructure and unifying communications for the entire family of Comcast companies.
Buchholz serves on many civic and charitable boards. She has received several awards, including the 2008 American Heart Association Go Red for Women Woman of Heart Award, 2000 Women of Distinction by the Philadelphia Business Journal and the Comcast Newsmaker of the Year Award. Buchholz received her M.S. from the University of Pennsylvania in 1997. She is a 1988 graduate of Dickinson College and the Dickinson Center for European Studies in Bologna, Italy. She resides in Philadelphia with her husband, Carl, and their two children.
Don Gayhardt served as the Chief Financial Officer of the Dollar Financial Group, Inc. - an operator of a branch-based network of stores offering a variety of consumer financial services to under-banked consumers - from 1993 to 1998 and from 1998 to 2008 as President, Secretary and a member of the Board of Directors. During his tenure with the company, Dollar grew substantially and expanded operations into Canada, the United Kingdom, Australia and continental Europe.
Since leaving Dollar, Gayhardt has joined the board of Factor Trust, Inc., an Atlanta-based provider of credit analytics to consumer and commercial finance companies, and has agreed to serve as Senior Advisor for Financial Services to Indochina Development Partners, LP, an investment fund focused on providing growth equity to private companies in Southeast Asia.
Gayhardt attended the University of Notre Dame where he majored in Accounting and graduated with honors in 1986. He and his wife Agnes have four children and are active in a number of charitable organizations.
About Beneficial Mutual Bancorp, Inc.
Beneficial Mutual Bancorp, Inc. is a community-based, diversified financial services company providing consumer and commercial banking services. Its principal subsidiary, Beneficial Bank, has served individuals and businesses in the Delaware Valley area since 1853. The Bank is the oldest and largest bank headquartered in Philadelphia, Pennsylvania, with 68 offices in the greater Philadelphia and South Jersey regions. Insurance services are offered through the Beneficial Insurance Services, LLC and wealth management services are offered through the Beneficial Advisors, LLC, both wholly owned subsidiaries of the Bank. For more information about the Bank and Beneficial, please visit www.thebeneficial.com.
This press release may contain projections and other "forward-looking statements" within the meaning of the federal securities laws. These statements are not historical facts, rather statements based on the current expectations of Beneficial Mutual Bancorp, Inc. regarding its business strategies, intended results and future performances. Forward-looking statements are preceded by terms such as "expects," "believes," "anticipates," "intends" and similar expressions.
Management's ability to predict results or the effect of future plans or strategies is inherently uncertain. Factors that could affect actual results include interest rate trends, the general economic climate in the market area in which the Company operates, as well as nationwide, the Company's ability to control costs and expenses, competitive products and pricing, loan delinquency rates, changes in federal and state legislation and regulation and other factors that may be described in the Company's filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K and other required filings. These factors should be considered in evaluating the forward-looking statements and undue reliance should not be placed on such statements. The Company assumes no obligation to update any forward-looking statements.
SOURCE: Beneficial Mutual Bancorp, Inc.
Joseph F. Conners
Executive Vice President and Chief Financial Officer
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