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Jun 30, 2021
WSFS Q2 2021 Earnings Report
WSFS reported a strong Q2 2021 with EPS of $2.01 and ROA of 2.60%, reflecting the strength of its diversified business model and a $67.6 million ACL release.
Key Takeaways
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.
Core ROA was 2.59% in 2Q 2021 compared to (0.73)% for 2Q 2020.
Core EPS was $2.00 in 2Q 2021 compared to $(0.46) for 2Q 2020.
Total net credit (recoveries) costs were $(68.1) million during the quarter, driven by a $72.4 million decrease in the allowance for credit losses (ACL).
Core fee revenue (noninterest income) was $43.8 million, an increase of $3.3 million, or 8%, compared to 2Q 2020.
Revenue by Segment
Forward Guidance
WSFS anticipates closing the merger with Bryn Mawr in early Q4 2021, pending remaining regulatory approval.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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