WSFS Q3 2021 Earnings Report
Key Takeaways
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.
Core ROA was 1.48% in 3Q 2021 compared to 1.48% for 3Q 2020.
Core EPS was $1.19 in 3Q 2021 compared to $1.00 for 3Q 2020.
Total net credit (recoveries) costs were $(21.1) million during the quarter.
WSFS Bank maintained its strong capital generation and position with a Common Equity Tier 1 capital ratio increasing to 14.59% at September 30, 2021.
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WSFS Revenue by Segment
Forward Guidance
The company is on track to close the Bryn Mawr acquisition upon receipt of the final regulatory approval from the Federal Reserve and looks forward to executing on the significant organic growth opportunity as the largest locally headquartered bank and wealth management franchise in the Greater Philadelphia and Delaware region.
Revenue & Expenses
Visualization of income flow from segment revenue to net income