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Mar 31, 2024
WSFS Q1 2024 Earnings Report
WSFS reported a strong first quarter in 2024, marked by solid financial performance and strategic growth initiatives.
Key Takeaways
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.
Core EPS was $1.11, and core ROA was 1.31%.
Gross loans grew by 2% (7% annualized), primarily due to commercial portfolio growth and the consumer partnership with Spring EQ.
The net interest margin was 3.84%, reflecting lagging increases in deposit pricing.
WSFS repurchased 492,368 shares of common stock for $21.0 million and declared a quarterly cash dividend of $0.15 per share.
Revenue by Segment
Forward Guidance
The company did not provide specific forward guidance in the provided document.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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