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John Melcher Joins Beneficial

Philadelphia, PA March 20, 2017 — (NASDAQ: BNCL) John Melcher joined Beneficial Bank as Senior Vice President and Director of Human Resources. He succeeds Cecile Colonna, who retired after 42 years with the bank.

Melcher comes to Beneficial Bank after six years with AmeriSource Bergen, where he served as Vice President, Human Resources. In this role he provided strategic, operational, and consultative guidance on all facets of HR including compensation, organization structure, workforce planning, and employee relations. He simultaneously established a fully integrated corporate HR Center of Expertise function that was strategically aligned with the business to optimize organization-wide performance.

Prior to AmeriSource Bergen, Melcher was with TD Bank, where he served as Vice President of Strategic Learning for the Commercial and Operations Divisions. He previously served as a senior human resources leader with Wells Fargo and predecessor banks in several markets.

Melcher holds a Bachelor of Business Administration and Management degree from Florida Atlantic University, and a Master of Science in Organizational Management from Pfeiffer University.

Beneficial is a community-based, diversified financial services company providing consumer and commercial banking services. Its principal subsidiary, Beneficial Bank, has over $5.8 billion in assets, has served the Delaware Valley area since 1853. The Bank is the oldest and largest bank headquartered in Philadelphia, Pennsylvania, with 62 offices in the greater Philadelphia and South New Jersey regions.