WSFS Financial

WSFS Financial Corp. is a savings and loan holding company, which engages in the provision of banking and financial services. It operates through the following business segments: WSFS Bank, Cash Connect, and Wealth Management. The WSFS Bank segment provides loans and other financial products to commercial and retail customers. The Cash Connect segment offers ATM vault cash, cash safe, and other cash logistics services. The Wealth Management segment focuses on an array of fiduciary, investment management, credit, and deposit products to clients. The company was founded in 1832 and is headquartered in Wilmington, DE.

Earnings data Q1 2021

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Earnings data Q4 2024

WSFS Financial reports strong Q4 performance and optimistic outlook for 2023

WSFS Financial's Q4 2022 performance showcased strength in core metrics and operational improvements, setting a positive tone for 2023.
While facing challenges such as provision costs and flat deposits, the company's strategic outlook and commitment to shareholder value position it well for the future.
With a focus on efficiency, profitability, and growth opportunities, WSFS Financial aims to navigate challenges and drive performance in the upcoming year.

WSFS Financial reports robust Q1 performance amidst charge-off challenges

WSFS Financial Corporation demonstrated strong financial performance in Q1 2023, driven by robust core metrics and revenue streams. While facing challenges with increased charge-offs, the company's stable asset quality and strategic focus position it well for growth. Leveraging its diverse deposit base and focusing on core strengths present opportunities for continued success.

WSFS Financial reports strong Q2 earnings, poised for strategic growth

WSFS Financial delivered robust financial performance in Q2 2023, marked by strong core EPS growth, loan and deposit expansion, and increased core fee revenue.
Despite challenges in asset quality and potential interest rate risks, the company's strategic positioning and outlook indicate resilience and growth potential.
By capitalizing on opportunities in loan expansion and fee revenue growth, WSFS Financial can navigate challenges and drive sustainable business growth in the future.

WSFS Financial excels in Q3 2023 with strong core performance

WSFS Financial's Q3 2023 performance was marked by strong core EPS and ROA, supported by loan growth and solid net interest margin. While facing challenges in asset quality metrics and credit losses, the company is strategically positioned to capitalize on loan growth opportunities and stabilize NIM in the coming quarters. Anticipated fee income fluctuations are expected to be offset by the strong performance of core components.

WSFS Financial excels in Q4 2023, eyes growth opportunities ahead

WSFS Financial's Q4 2023 performance reflects strength in core metrics and revenue streams. The company's solid capital position and earnings provide a cushion against economic headwinds. With a focus on fee income and strategic investments, WSFS is poised for continued growth and shareholder returns.

WSFS Financial reports strong Q1 earnings and optimistic outlook

WSFS Financial's Q1 2024 earnings call showcased strong financial performance, growth in key metrics, and a positive outlook for the year. Despite challenges in noninterest expenses, the company remains well positioned for continued success and value creation.

WSFS Financial excels in Q2 performance, eyes growth opportunities

WSFS Financial showcased strong financial metrics, robust capital return to shareholders, and a positive outlook for maintaining performance.
While facing challenges in managing growth pace and market risks, the company can capitalize on opportunities in fee business expansion and digital innovation.
Strategic planning and risk management will be crucial for WSFS to navigate uncertainties and sustain its growth trajectory in the evolving financial landscape.

WSFS Financial reports robust Q3 performance amidst credit challenges

WSFS Financial Corporation delivered a strong performance in Q3 2024, with notable increases in core EPS, core ROA, and core fee revenue.
While facing challenges related to credit costs and asset quality, the company remains well-positioned for growth and profitability.
By leveraging its strengths in capital efficiency and revenue diversification, WSFS can navigate challenges and seize opportunities for sustained success.

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WSFS (WSFS) delivered earnings and revenue surprises of -2.38% and 0.43%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

WSFS Financial (WSFS) Q3 Earnings Miss Estimates

WILMINGTON, Del., Oct. 24, 2022 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (Nasdaq: WSFS), the parent company of WSFS Bank, today announced its financial results for the third quarter of 2022.

WSFS Reports 3Q 2022 EPS of $1.16, ROA of 1.44%; Reflects Expanded NIM of 3.99%, Diversified Loan Growth, and Fee Revenue at 26.1% of Total Net Revenue

WILMINGTON, Del., Oct. 17, 2022 (GLOBE NEWSWIRE) -- WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), today announced the launch of its annual Fall Food Drive to combat food insecurity across the Greater Philadelphia and Delaware region. WSFS banking office locations in Delaware, New Jersey and Pennsylvania will serve as food deposit centers for WSFS Associates, Customers and members of the community to donate nonperishable food items through December 31.

WSFS Bank Teams Up With Sharing Excess and Sunday Breakfast Mission to Fight Food Insecurity Across the Region

WILMINGTON, Del., Oct. 14, 2022 (GLOBE NEWSWIRE) -- WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), today announced that Shari Kruzinski has been named Executive Vice President, Chief Consumer Banking Officer, reporting to Rodger Levenson, WSFS Chairman, President, and CEO. In her new role, she will oversee all aspects of the Consumer Banking division including Retail Delivery, Strategy, Consumer and Small Business banking and the Mortgage division. Kruzinski will assume the role following Rick Wright's announcement that he will retire at the end of the year.

Photo Release -- WSFS Bank Names Shari Kruzinski Executive Vice President, Chief Consumer Banking Officer

Desire to increase financial stability a key factor in cutting back on non-essentials and delaying life milestones to save more Desire to increase financial stability a key factor in cutting back on non-essentials and delaying life milestones to save more

The Effects of Inflation, Rising Costs and Increasing Interest Rates Driving Regional Consumers to Re-Think Their Future Finances, WSFS Bank's Annual Money Trends Study Finds

WILMINGTON, Del., Oct. 11, 2022 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (Nasdaq: WSFS), the parent company of WSFS Bank, expects to report its third quarter earnings at the end of business October 24, 2022. Management will conduct a conference call to review this information at 1:00 p.m. Eastern Time (ET) on October 25, 2022.

WSFS Financial Corporation Announces Third Quarter 2022 Earnings Release Date and Conference Call

WILMINGTON, Del., Oct. 11, 2022 (GLOBE NEWSWIRE) -- The WSFS CARES Foundation, the charitable giving arm of WSFS Bank (Nasdaq: WSFS), announced it has provided grants to six community organizations across its footprint as part of its continuing series of philanthropic activities by WSFS and the Foundation. The grants, approved in the third quarter by the WSFS CARES Foundation board, will support the following organizations:

WSFS CARES Foundation Provides Grants to Six Community Organizations in Delaware, Pennsylvania and New Jersey

WILMINGTON, Del., Oct. 06, 2022 (GLOBE NEWSWIRE) -- Moody's Investors Service assigned first time ratings to WSFS Financial Corporation (NASDAQ: WSFS) (“WSFS” or “the Company”) with an issuer rating of Baa2 with a Positive Outlook. Long-and short-term deposits of A2/Prime-1, together with a standalone Baseline Credit Assessment of Baa1. Moody's has also assigned Counterparty Risk Assessment of A3(cr)/Prime-2 and Counterpart Risk Ratings (local and foreign currency) of Baa1/Prime-2. Moody's debt ratings for WSFS can be accessed here.

WSFS Receives Moody's Baa2 Issuer Rating with a Positive Outlook; Rating Reinforces Strength of Business Model and Successful Acquisition Integrations

WSFS (WSFS) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

What Makes WSFS (WSFS) a New Strong Buy Stock

WILMINGTON, Del., Sept. 29, 2022 (GLOBE NEWSWIRE) -- WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), is pleased to announce that the following six Associates from across the organization have been elevated to Senior Vice President (SVP) positions:

WSFS Names Six Associates to Senior Leadership Positions

Leveraging its unique position as the largest locally headquartered bank and trust company, WSFS expands commercial offering with new healthcare specialty business Leveraging its unique position as the largest locally headquartered bank and trust company, WSFS expands commercial offering with new healthcare specialty business

WSFS Announces Kevin McKeown as Senior Vice President, Director of Healthcare Banking

WILMINGTON, Del., Aug. 25, 2022 (GLOBE NEWSWIRE) -- Kroll Bond Rating Agency (KBRA) has reaffirmed the senior unsecured debt rating of A- for WSFS Financial Corporation (NASDAQ: WSFS) (“WSFS” or “the Company”). KBRA also reaffirmed WSFS' subordinated debt rating of BBB+ and a short-term debt rating of K2. WSFS Bank, the Company's primary subsidiary, received strong credit ratings as well, including A ratings for both senior unsecured debt and deposit, a subordinated debt rating of A-, and the short-term debt and deposit ratings of K1. KBRA's debt ratings for WSFS can be accessed here.

WSFS Financial Corporation's A- Senior Unsecured Debt Rating Affirmed by KBRA, After the Successful Combination with Bryn Mawr Trust

Region's largest locally headquartered bank becomes the official bank partner and community supporter of the Philadelphia Union and Subaru Park Region's largest locally headquartered bank becomes the official bank partner and community supporter of the Philadelphia Union and Subaru Park

Photo Release -- Philadelphia Union and WSFS Bank Announce Multi-Year Partnership

WSFS Financial Corporation (NASDAQ:WSFS ) Q2 2022 Earnings Conference Call July 26, 2022 1:00 PM ET Company Participants Dominic Canuso - Chief Financial Officer Rodger Levenson - Chairman, President and Chief Executive Officer Art Bacci - Chief Wealth Officer Conference Call Participants Frank Schiraldi - Piper Sandler Mike Perito - KBW Operator Ladies and gentlemen, thank you for standing by and welcome to the WSFS Financial Corporation Second Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode.

WSFS Financial Corporation's (WSFS) CEO Rodger Levenson on Q2 2022 Results - Earnings Call Transcript

Board Approved 15% Dividend Increase and New 10% Share Authorization Board Approved 15% Dividend Increase and New 10% Share Authorization

WSFS Reports 2Q 2022 EPS of $0.94 and ROA of 1.17%; Results Reflect Growth in Loans and Diversified Fee Revenue

WILMINGTON, Del., July 18, 2022 (GLOBE NEWSWIRE) -- The WSFS CARES Foundation, the charitable giving arm of WSFS Bank (Nasdaq: WSFS), announced it has provided $15,000 in grants to be split among seven local nonprofit organizations as part of the Satell Institute's recent CEO Conference “Impact 2022: A New Era in CSR.”

WSFS CARES Foundation Provides $15,000 in Grants to Seven Local Nonprofits in Conjunction with the Satell Institute CEO Conference

WILMINGTON, Del., July 11, 2022 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (Nasdaq: WSFS), the parent company of WSFS Bank, expects to report its second quarter earnings at the end of business July 25, 2022. Management will conduct a conference call to review this information at 1:00 p.m. Eastern Time (ET) on July 26, 2022.

WSFS Financial Corporation Announces Second Quarter 2022 Earnings Release Date and Conference Call

WILMINGTON, Del., July 07, 2022 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (NASDAQ: WSFS) today announced it sold the business of BMT Insurance Advisors (BMTIA), an independent insurance brokerage and risk management consulting firm throughout the United States that builds custom insurance solutions for consumers and businesses, to Patriot Growth Insurance Services, LLC (Patriot). The deal includes an offer of continuing employment for all BMTIA Associates and is not expected to materially impact future earnings.

WSFS Announces Sale of BMT Insurance Advisors to Patriot Growth Insurance Services, LLC

WILMINGTON, Del., June 22, 2022 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (Nasdaq: WSFS), the parent company of Bryn Mawr Trust, today announced David B. Stork as Senior Vice President, Wealth Director in Hershey, Pa., reporting to Mark Bradford, Senior Vice President, Market Director, Bryn Mawr Trust. Stork will lead Bryn Mawr Trust's Central Pennsylvania team based in Hershey and be responsible for new business, community visibility and brand development in the market.

Bryn Mawr Trust Announces David B. Stork as Senior Vice President, Wealth Director in Hershey, Pa.

WILMINGTON, Del., May 24, 2022 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (Nasdaq: WSFS), the parent company of Bryn Mawr Trust, today announced James A. Hutchinson, CFA has been named Senior Vice President, Wealth Director in Berwyn, Pa., reporting to Mark Bradford, Senior Vice President, Market Director, Bryn Mawr Trust. Hutchinson will lead the Berwyn team and be responsible for new business, community visibility, and brand development in the market.

Bryn Mawr Trust Announces James A. Hutchinson as Senior Vice President, Wealth Director in Berwyn, Pa.

WILMINGTON, Del., May 09, 2022 (GLOBE NEWSWIRE) -- The WSFS CARES Foundation, the charitable giving arm of WSFS Bank (Nasdaq: WSFS), announced it has provided a five-year grant totaling $75,000 to the Homeland Center in Harrisburg, Pa., to support the organization's Certified Nursing Assistant (CNA) Academy Program.

WSFS CARES Foundation Provides $75,000 Grant to Homeland Center for Workforce Development Opportunities

WILMINGTON, Del., May 03, 2022 (GLOBE NEWSWIRE) -- WSFS Associates, their children and family members formed a group of more than 60 volunteers on April 28 across the Greater Philadelphia and Delaware region as part of “Take Your Children to the Community Day,” WSFS' spin on the national “Take Our Daughters and Sons to Work Day.”

WSFS Associates and Their Families Volunteer Across the Region for Take Your Children to the Community Day

WILMINGTON, Del., April 29, 2022 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (Nasdaq: WSFS), the parent company of WSFS Bank, will participate at the D.A. Davidson 24th Annual Financial Institutions Conference on May 5, 2022, in Colorado Springs, Colo. Rodger Levenson, WSFS' Chairman, President and Chief Executive Officer, and Dominic C. Canuso, Executive Vice President and Chief Financial Officer, will host discussions with investors.

WSFS Management to Hold Meetings with Investors at the D.A. Davidson 24th Annual Financial Institutions Conference

WILMINGTON, Del., April 28, 2022 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (Nasdaq: WSFS), the parent company of Bryn Mawr Trust, today announced Mark Bradford has been named Senior Vice President, Market Director, reporting to Jennifer Dempsey Fox, CFP®, President of Bryn Mawr Trust. Bradford will lead the Wealth Directors for Bryn Mawr Trust's Berwyn (Pa.), Hershey (Pa.), Philadelphia (Pa.), Princeton (N.J.) and Greenville (Del.) markets, and focus on providing Clients with collaborative planning, advice and solutions.

Bryn Mawr Trust Announces Mark Bradford as Senior Vice President, Market Director

WSFS Financial Corporation (NASDAQ:WSFS ) Q1 2022 Earnings Conference Call April 22, 2022 1:00 PM ET Company Participants Rodger Levenson - Chairman, President and CEO Dominic Canuso - CFO Steve Clark - EVP and Chief Commercial Banking Officer Art Bacci - Chief Wealth Officer Rick Wright - Chief Retail Banking Officer Conference Call Participants Frank Schiraldi - Piper Sandler Michael Perito - KBW Russell Gunther - D.A. Davidson Operator Thank you for standing by and welcome to the WSFS Financial Corporation First Quarter 2022 Earnings Conference Call.

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