WSFS Q1 2021 Earnings Report
Key Takeaways
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.
Core ROA was 1.89% in 1Q 2021 compared to 0.39% for 1Q 2020.
Core EPS was $1.39 in 1Q 2021 compared to $0.23 for 1Q 2020.
Total net credit (recoveries) costs were $(19.0) million and net charge-offs were $3.8 million, or 0.18% of average gross loans during the quarter.
Core fee revenue (noninterest income) was $47.5 million, an increase of $8.0 million, or 20% compared to 1Q 2020.
WSFS
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WSFS Revenue by Segment
Forward Guidance
The company expects to close the combination with Bryn Mawr in early 4Q 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income