============================================================================== 
  
                       SECURITIES AND EXCHANGE COMMISSION 
                           WASHINGTON, D.C. 20549 
  
                                  FORM 8-K 
  
                               CURRENT REPORT 
  
                     Pursuant to Section 13 or 15(d) of 
                    the Securities Exchange Act of 1934 
  
  
        Date of Report (Date of earliest event reported):  November 20, 1998 
  
  
                          WSFS FINANCIAL CORPORATION
           ------------------------------------------------------
           (Exact name of registrant as specified in its charter)
  
  
           Delaware                    0-16668                  22-2866913
 ----------------------------        -----------            ------------------
 (State of other Jurisdiction        (Commission            (I.R.S. employer 
      of incorporation)              file number)           identification no.) 
  
  
 838 Market Street, Wilmington, Delaware                             19899 
 ---------------------------------------                          ----------
 (Address of principal executive offices)                         (Zip code) 
  
  
 Registrant's telephone number, including area code:         (302) 792-6000 
  
  
                               Not Applicable                              
        -----------------------------------------------------------
       (Former name or former address, if changed since last report) 
  
 ==============================================================================
  
  
  
 Item 5.  Other Events 
  
      On November 20, 1998, the Registrant's wholly owned subsidiary, WSFS
 Capital Trust I (the "Trust"), issued $50,000,000 aggregate liquidation
 amount of Floating Rate Cumulative Trust Preferred Securities, representing
 undivided beneficial interests in the Trust (the "Trust Preferred
 Securities"), at a public offering price of $1,000 per Trust Preferred
 Security.  Distributions will be paid on the Trust Preferred Securities at
 a variable rate, reset quarterly, equal to three-month LIBOR plus 250 basis
 points.  The Trust Preferred Securities are guaranteed by the Registrant
 based on several obligations.  The Trust invested the proceeds from such
 sale into $51,547,000 aggregate principal amount of Floating Rate Junior
 Subordinated Deferrable Interest Debentures due December 1, 2028 of the
 Company with the same financial terms and payment obligations as the Trust
 Preferred Securities. 
  
 Item 7.  Financial Statements.  Pro Forma Financial Information and
          Exhibits. 
  
      (a)  Financial Statements of Business Acquired.  None. 
  
  
      (b)  Pro Forma Financial Information.  None. 
  
  
      (c)  Exhibits.  The following exhibits are filed as part of this
           report on Form 8-K: 
  
           Exhibit No.           Description 
  
           1.1            Underwriting Agreement, dated November 17, 1998,
                          among WSFS Financial Corporation, Wilmington
                          Savings Fund Society, Federal Savings Bank, WSFS
                          Capital Trust I and Sandler O'Neil & Partners, L.P.


                                 SIGNATURES 
  
  
      Pursuant to the requirements of the Securities Exchange Act of 1934,
 the Registrant has duly caused this report to be signed on its behalf by
 the undersigned, thereunto duly authorized. 
  
  
                               WSFS FINANCIAL CORPORATION 
  
  
 Date:  November 20, 1998         BY:  /s/ Marvin N. Schoenhals         
                                     ------------------------------------
                                     Marvin N. Schoenhals 
                                     Chairman, President 
                                     and Chief Executive Officer
[{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 3895}]
{"company-data": {"conformed-name": "WSFS FINANCIAL CORP", "cik": "0000828944", "assigned-sic": "6021", "irs-number": "222866913", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-16668", "film-number": "98755718"}, "business-address": {"street1": "838 MARKET ST", "city": "WILMINGTON", "state": "DE", "zip": "19899", "phone": "3027926000"}, "mail-address": {"street1": "838 MARKET STREET", "city": "WILMINGTON", "state": "DE", "zip": "19899"}, "former-company": {"former-conformed-name": "STAR STATES CORP", "date-changed": "19920703"}}
============================================================================== 
  
                       SECURITIES AND EXCHANGE COMMISSION 
                           WASHINGTON, D.C. 20549 
  
                                  FORM 8-K 
  
                               CURRENT REPORT 
  
                     Pursuant to Section 13 or 15(d) of 
                    the Securities Exchange Act of 1934 
  
  
        Date of Report (Date of earliest event reported):  November 20, 1998 
  
  
                          WSFS FINANCIAL CORPORATION
           ------------------------------------------------------
           (Exact name of registrant as specified in its charter)
  
  
           Delaware                    0-16668                  22-2866913
 ----------------------------        -----------            ------------------
 (State of other Jurisdiction        (Commission            (I.R.S. employer 
      of incorporation)              file number)           identification no.) 
  
  
 838 Market Street, Wilmington, Delaware                             19899 
 ---------------------------------------                          ----------
 (Address of principal executive offices)                         (Zip code) 
  
  
 Registrant's telephone number, including area code:         (302) 792-6000 
  
  
                               Not Applicable                              
        -----------------------------------------------------------
       (Former name or former address, if changed since last report) 
  
 ==============================================================================
  
  
  
 Item 5.  Other Events 
  
      On November 20, 1998, the Registrant's wholly owned subsidiary, WSFS
 Capital Trust I (the "Trust"), issued $50,000,000 aggregate liquidation
 amount of Floating Rate Cumulative Trust Preferred Securities, representing
 undivided beneficial interests in the Trust (the "Trust Preferred
 Securities"), at a public offering price of $1,000 per Trust Preferred
 Security.  Distributions will be paid on the Trust Preferred Securities at
 a variable rate, reset quarterly, equal to three-month LIBOR plus 250 basis
 points.  The Trust Preferred Securities are guaranteed by the Registrant
 based on several obligations.  The Trust invested the proceeds from such
 sale into $51,547,000 aggregate principal amount of Floating Rate Junior
 Subordinated Deferrable Interest Debentures due December 1, 2028 of the
 Company with the same financial terms and payment obligations as the Trust
 Preferred Securities. 
  
 Item 7.  Financial Statements.  Pro Forma Financial Information and
          Exhibits. 
  
      (a)  Financial Statements of Business Acquired.  None. 
  
  
      (b)  Pro Forma Financial Information.  None. 
  
  
      (c)  Exhibits.  The following exhibits are filed as part of this
           report on Form 8-K: 
  
           Exhibit No.           Description 
  
           1.1            Underwriting Agreement, dated November 17, 1998,
                          among WSFS Financial Corporation, Wilmington
                          Savings Fund Society, Federal Savings Bank, WSFS
                          Capital Trust I and Sandler O'Neil & Partners, L.P.

                                 SIGNATURES 
  
  
      Pursuant to the requirements of the Securities Exchange Act of 1934,
 the Registrant has duly caused this report to be signed on its behalf by
 the undersigned, thereunto duly authorized. 
  
  
                               WSFS FINANCIAL CORPORATION 
  
  
 Date:  November 20, 1998         BY:  /s/ Marvin N. Schoenhals         
                                     ------------------------------------
                                     Marvin N. Schoenhals 
                                     Chairman, President 
                                     and Chief Executive Officer