WSFS Q4 2024 Earnings Report
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.
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WSFS Revenue by Segment
Forward Guidance
WSFS enters 2025 with continued momentum and opportunity as we embark on our 2025-2027 Strategic Plan.