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Dec 31, 2024
WSFS Q4 2024 Earnings Report
WSFS reported strong deposit growth and record wealth and trust revenue.
Key Takeaways
WSFS Financial Corporation reported a strong fourth quarter with earnings per share of $1.09, a return on average assets of 1.21%, and a net interest margin of 3.80%. The company experienced robust deposit growth and record performance in its Wealth and Trust franchise. However, results were impacted by an adverse event related to a Cash Connect® Client.
Core ROA was 1.24%, compared to 1.22% for 3Q 2024.
Core EPS was $1.11, compared to $1.08 for 3Q 2024.
Customer deposits increased 4% compared to 3Q 2024 and 4% compared to 4Q 2023, driven by broad-based growth across our Trust, Consumer, and Commercial business lines.
Net interest margin of 3.80%, compared to 3.78% for 3Q 2024, reflects active deposit repricing actions and higher noninterest deposits, partially offset by lower loan yields.
Revenue by Segment
Forward Guidance
WSFS enters 2025 with continued momentum and opportunity as we embark on our 2025-2027 Strategic Plan.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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