WSFS Earnings Reports

WSFS Financial Corporation reported a strong fourth quarter with earnings per share of $1.09, a return on average assets of 1.21%, and a net interest margin of 3.80%. The company experienced robust deposit growth and record performance in its Wealth and Trust franchise. However, results were impacted by an adverse event related to a Cash Connect® Client.

WSFS Financial Corporation announced its Q3 2024 financial results, with a core Return on Average Assets (ROA) of 1.22% and Earnings Per Share (EPS) of $1.08. The results reflect continued growth in loans, deposits, and fee revenue. Gross loan growth was reported at 1% (5% annualized), driven by commercial, consumer, and residential mortgage portfolios. Customer deposits increased by 1% (3% annualized), primarily due to seasonal municipal deposit inflows.

WSFS Financial Corporation reported a solid second quarter in 2024, with a return on average assets (ROA) of 1.34% and earnings per share (EPS) of $1.16. The results reflect growth in loans, deposits, and diversified fee revenue, along with a net interest margin of 3.85%.

WSFS Financial Corporation reported a first quarter 2024 ROA of 1.28% and EPS of $1.09, reflecting balance sheet strength and a diverse business model. Annualized loan growth reached 7%, driven by both commercial and consumer business lines.

WSFS Financial Corporation reported a net income attributable to WSFS of $63.9 million, or $1.05 per share, for the fourth quarter of 2023. The results reflect strong deposit and fee revenue growth and a net interest margin of 3.99%.

WSFS Financial Corporation reported a strong third quarter in 2023, with an EPS of $1.22 and an ROA of 1.45%. The company saw solid loan growth, a net interest margin of 4.08%, and a 9% increase in fee revenue. WSFS also maintained strong liquidity and capital levels.

WSFS Financial Corporation reported a strong second quarter in 2023, with earnings per share of $1.12 and a return on average assets of 1.36%. The results reflect solid loan and deposit growth, a net interest margin of 4.11%, and a diversified fee revenue increase of 6% from the first quarter of 2023. The company's balance sheet remains strong with stable credit metrics and capital levels above well-capitalized.

WSFS Financial Corporation reported strong Q4 2022 results, with an EPS of $1.37 and ROA of 1.69%. The results were driven by a net interest margin of 4.49%, solid loan growth, and diversified fee revenue. The company also successfully completed its first full year of the Bryn Mawr Trust combination.

WSFS Financial Corporation reported a strong third quarter in 2022, driven by solid loan growth, an expanded net interest margin, and disciplined expense management. The company's core pre-provision net revenue (PPNR) saw a substantial increase, and asset quality metrics remained favorable. WSFS was assigned a first-time rating by Moody's Investor Service with an investment grade of Baa2 with a Positive Outlook.

WSFS Financial Corporation reported strong second quarter results, driven by growth in loans and diversified fee revenue. The Board approved a 15% dividend increase and a new 10% share authorization, demonstrating confidence in the company's financial position.

WSFS Financial Corporation reported its financial results for the first quarter of 2022, which included the impact of the combination with Bryn Mawr Bank Corporation (“Bryn Mawr Trust”) that closed on January 1, 2022. The company successfully completed the integration of its banking systems and launched Bryn Mawr Trust as its prominent Wealth Management brand.

WSFS Financial Corporation reported strong Q4 2021 results, including earnings per share of $1.18 and a return on average assets of 1.45%. The company successfully closed the acquisition of Bryn Mawr Trust on January 1, 2022. The quarter was marked by strong performance in fee businesses, a solid capital position, and improving credit metrics.

WSFS Financial Corporation reported a strong third quarter with an EPS of $1.14 and a ROA of 1.43%. The company's diversified business model and improving credit metrics contributed to the positive results. A $21.3 million ACL release further boosted the company's performance.

WSFS Financial Corporation reported a strong second quarter of 2021, with significant improvement in credit metrics and solid growth in fee businesses. The company's EPS reached $2.01 and ROA was 2.60%. A notable $67.6 million release from the allowance for credit losses contributed to the positive results.

WSFS Financial Corporation reported a strong first quarter in 2021, with an EPS of $1.36 and an ROA of 1.85%. The results reflect diversified revenue streams and improving credit trends. The board also approved an 8% increase in the cash dividend.

WSFS Financial Corporation reported a strong fourth quarter with earnings per share of $1.20 and a return on average assets of 1.73%. The results were driven by a net interest margin of 3.93% and diversified fee income. The company repurchased 6% of its shares during the quarter and maintained strong ACL and capital levels.

WSFS Financial Corporation reported a strong third quarter in 2020, with an EPS of $1.01 and ROA of 1.49%. The company's diversified business model and strong capital position contributed to the positive results. Share repurchases are set to resume in Q4 2020.

WSFS Financial Corporation announced a net loss of $7.1 million for the second quarter of 2020, primarily due to a $94.8 million provision for credit losses driven by the COVID-19 pandemic. This was partially offset by a $22.1 million gain on the sale of Visa Class B shares and the impact of nearly $1 billion in Paycheck Protection Program (PPP) loans.

WSFS Financial Corporation's first quarter 2020 results were significantly impacted by the economic effects of the global COVID-19 pandemic and the adoption of the Current Expected Credit Loss (CECL) method of accounting, resulting in additional provision for credit losses. However, the company's core pre-provision net revenue (PPNR) remained strong, and it maintains significant excess capital levels and liquidity capacity.

WSFS Financial Corporation reported a net income of $45.7 million, or $0.88 per share, for the fourth quarter of 2019. The results reflect the impact of the Beneficial Bancorp, Inc. acquisition and include net corporate development and restructuring costs of $6.1 million. The company's core ROA was 1.63%, and core EPS was $0.96.