WSFS Q4 2020 Earnings Report
Key Takeaways
WSFS Financial Corporation reported a strong fourth quarter with earnings per share of $1.20 and a return on average assets of 1.73%. The results were driven by a net interest margin of 3.93% and diversified fee income. The company repurchased 6% of its shares during the quarter and maintained strong ACL and capital levels.
Core ROA was 1.67% in 4Q 2020 compared to 1.63% for 4Q 2019.
Core EPS was $1.16 in 4Q 2020 compared to $0.96 for 4Q 2019.
WSFS repurchased 2,946,507 shares, or 6% of our outstanding common stock, totaling $116.3 million in 4Q 2020.
Total net credit (recoveries) costs were $(0.5) million and net charge-offs were $3.0 million, or 0.13% of average gross loans during the quarter.
WSFS
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WSFS Revenue by Segment
Forward Guidance
The company continues to make significant investments to capture organic growth opportunities.
Revenue & Expenses
Visualization of income flow from segment revenue to net income