<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 3)
WSFS FINANCIAL CORPORATION
--------------------------
(Name of Issuer)
Common Stock
par value $0.01 per share
----------------------------
(Title of Class of Securities)
929328102
------------
(CUSIP Number)
ROBERT E. SULLIVAN
Pillsbury Madison & Sutro LLP
235 Montgomery Street
San Francisco, CA 94194
(415) 983-1361
------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communication)
August 19, 1997
---------------
(Date of Event with Requires
Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
Check the following box if a fee is being paid with the statement [X].
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subjected to the liabilities of that section of the
Act but shall be subject to all other provisions of the Act (however, see the
Notes).
<PAGE>
CUSIP No. 929328102 13D
- --------------------------------------------------------------------------------
1. NAMES OF REPORTING PERSONS Isocrates Limited
S.S. OR I.R.S. IDENTIFICATION Isocrates Trust
NO. OF ABOVE PERSON Sorgente Company Unlimited
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS See Item 3
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS
REQUIRED PURSUANT TO ITEM 2 (d) OR 2 (e) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION British Virgin Islands
- --------------------------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER 250,000
SHARES ----------------------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY ----------------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER 250,000
REPORTING ----------------------------------------------------------------
PERSON 10. SHARED DISPOSITIVE POWER
WITH
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 250,000
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO and OO
<PAGE>
CUSIP No. 929328102 13D Page 3
Item 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) and (b) WSFS Financial Corporation ("WSFS") has advised the filing
entities that as of August 8, 1997, there were issued and outstanding 12,442,339
shares of Common Stock. In addition to the previously reported transactions,
between April 24, 1997 and August 19, 1997 Sorgente Company Unlimited sold
490,742 shares of Common Stock of WSFS (further described in Item 5, paragraph
(c) below). Therefore, as of the close of business on August 19, 1997, Sorgente
Company Unlimited owned 250,000 shares of Common Stock of WSFS and Isocrates
Limited and Isocrates Trust indirectly owned beneficially all of those shares.
Such shares in the aggregate constitute 2% of the total number of shares of
Common Stock outstanding. The filing entities have the sole power to vote and to
dispose of all such shares of Common Stock.
(c) Sorgente Unlimited sold the following shares of Common Stock of WSFS:
<TABLE>
<CAPTION>
DATE NO. OF SHARES AVERAGE UNIT PRICE NET PROCEEDS
- ------- ------------- ------------------ -------------
<S> <C> <C> <C>
4/24/97 30,000 $11.75 $ 350,688.25
4/28/97 2,000 $12.063 $ 24,004.19
7/17/97 12,500 $14.395 $ 179,181.50
7/18/97 5,000 $14.25 $ 70,947.62
7/21/97 24,500 $14.25 $ 347,643.36
7/22/97 29,000 $14.25 $ 411,496.22
7/23/97 51,500 $14.405 $ 738,758.22
7/24/97 34,500 $14.50 $ 498,163.32
7/25/97 93,000 $14.50 $1,342,875.00
8/4/97 32,500 $14.894 $ 482,088.86
8/5/97 5,000 $14.75 $ 73,447.54
8/6/97 7,500 $14.583 $ 108,921.10
8/8/97 25,000 $14.25 $ 354,738.00
8/15/97 28,742 $14.25 $ 407,835.32
8/18/97 5,000 $14.375 $ 71,572.60
8/19/97 105,000 $14.375 $1,503,024.68
</TABLE>
(d) Inapplicable.
(e) As of August 19, 1997, the filing entities are no longer beneficial
owners of more than 5% of this class of securities.
<PAGE>
Signature: After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: September 29, 1997.
ISOCRATES LIMITED
By: /s/ ROBERT W. WO
---------------------------
Robert W. Wo
Director
ISOCRATES TRUST
By: /s/ ROBERT W. WO
---------------------------
Robert W. Wo
Director of Isocrates
Limited, Trustee
SORGENTE COMPANY UNLIMITED
By: /s/ LAURENCE MOH
---------------------------
Laurence Moh
Director
