Card portfolio sale, buyback authorization, merger approvals

WSFS agrees to sell its card portfolio to Elan and partner on WSFS-branded credit cards. The transaction is expected to produce a second-quarter gain and provision release. WSFS will also issue WSFS-branded credit cards with Elan, shifting the card business from an owned portfolio to a partner-issued model.

Amalgamated Bank expands its buyback authorization. The board authorized an additional $31.4 million common stock repurchase under the existing program, bringing total future authorization to $40 million as of June 9, 2026. The action is a direct capital-return signal and affects the bank’s per-share valuation setup.

Arrow merger receives Adirondack stockholder and New York DFS approvals. Closing conditions are expected to be satisfied for a July 1, 2026 completion. The approvals remove two named execution gates, but the filing still frames completion as tied to remaining closing conditions.