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Mar 31
WSFS Q1 2025 Earnings Report
WSFS reported solid first-quarter results with stable net income and margin expansion.
Key Takeaways
WSFS delivered a strong performance in Q1 2025 with improved net interest margin and sustained profitability. The board also approved a notable increase in capital return initiatives.
Net income was $65.9 million, nearly flat from the prior year.
EPS came in at $1.12, with a non-GAAP EPS of $1.13.
Net interest margin rose to 3.88%, benefiting from deposit repricing actions.
The board authorized a 13% dividend increase and an additional 10% share repurchase plan.
WSFS
WSFS
WSFS Revenue by Segment
Revenue by Segment
Wealth Management Revenue
CapyFin.comCash Connect Revenue
CapyFin.com Forward Guidance
WSFS plans to continue focusing on capital returns and core revenue growth while managing credit quality and funding costs amid economic uncertainty.
Positive Outlook
- 13% increase in quarterly dividend to $0.17 per share.
- Additional 10% share repurchase authorization approved.
- Core fee revenue expected to grow, especially in Wealth and Trust.
- Well-diversified deposit base supports stable funding.
- Capital ratios remain well above regulatory benchmarks.
Challenges Ahead
- Net charge-offs increased due to a large C&I loan write-off.
- Delinquencies rose in the commercial portfolio.
- Noninterest income declined quarter-over-quarter.
- Cash Connect revenues under pressure from lower volumes and rates.
- Uncertainty in macroeconomic and policy environments may impact loan activity.