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PHILADELPHIA - Bank holding company Beneficial Mutual Bancorp Inc. said Wednesday it will not apply for funds through the U.S. Treasury's capital purchase program.
| BNCL | 11.11 |  -0.01 |
The program, part of a $700 billion financial rescue package passed in September, will see the government pour $250 billion into stock purchases of various institutions.
The parent of Beneficial Bank said in a statement that it is well-capitalized, has significant liquidity and a strong balance sheet.
Beneficial Bank, the company's banking subsidiary, has 72 offices in the greater Philadelphia and south New Jersey area.
Shares rose 24 cents, or 2.1 percent, to $11.54 in afternoon trading.
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