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Sep 30, 2023
WSFS Q3 2023 Earnings Report
WSFS reported solid loan growth, NIM of 4.08%, and a fee revenue increase of 9% while maintaining strong liquidity and capital levels.
Key Takeaways
WSFS Financial Corporation reported a strong third quarter in 2023, with an EPS of $1.22 and an ROA of 1.45%. The company saw solid loan growth, a net interest margin of 4.08%, and a 9% increase in fee revenue. WSFS also maintained strong liquidity and capital levels.
Core EPS was $1.23, flat compared to Q3 2022.
Net loan growth of 3% from 2Q 2023, driven by growth across the commercial portfolio and consumer partnership with Spring EQ.
Net interest margin was 4.08%, reflecting increasing deposit betas, partially offset by higher loan yields.
Core fee revenue was a record $73.4 million, an increase of 9% compared to 2Q 2023.
Revenue by Segment
Forward Guidance
WSFS anticipates continued uncertainty in the near-term outlook for the Greater Philadelphia and Delaware regional economy.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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