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 Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

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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According to data from Cash Connect, a division of WSFS Bank, 81% of financial decision makers agree that cash payments have remained at least somewhat steady at their businesses over the past five years According to data from Cash Connect, a division of WSFS Bank, 81% of financial decision makers agree that cash payments have remained at least somewhat steady at their businesses over the past five years

New Study Shows Cash Remains a Mainstay for Both Consumers and Businesses, Even in the Age of Technology

WILMINGTON, Del., July 13, 2021 (GLOBE NEWSWIRE) -- WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), was named the recipient of the Delaware Small Business Chamber President's Award for Business Excellence. The annual award is given to a company that has brought positive recognition to the Delaware small business community.

WSFS Receives the Delaware Small Business Chamber President's Award for Business Excellence

WILMINGTON, Del., July 08, 2021 (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 Thursday, July 22, 2021. Management will conduct a conference call to review this information at 1:00 p.m. Eastern Daylight Time (EDT) on Friday, July 23, 2021. Interested parties may listen to this call by dialing 1-877-312-5857 and using conference ID # 9377417.

WSFS Financial Corporation Announces Second Quarter 2021 Earnings Release Date and Conference Call

WILMINGTON, Del., June 15, 2021 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (NASDAQ: WSFS), the parent company of WSFS Bank, today announced that it has called $100 million of senior debt with a coupon rate of 4.50% fixed-to-floating rate senior notes due 2026. The notes were callable quarterly beginning June 15, 2021. The debt was repaid using a portion of the proceeds from the December 2020 issuance of $150 million of fixed-to-floating senior holding company notes with a historically low initial coupon of 2.75% for five years and then floats at SOFR plus 2.485% for the final five years.

WSFS Announces Execution of $100 Million Senior Debt Call

WILMINGTON, Del. and BRYN MAWR, Pa., June 10, 2021 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (NASDAQ: WSFS) and Bryn Mawr Bank Corporation (NASDAQ: BMTC), jointly announced today that their respective stockholders approved the previously announced merger of BMTC into WSFS at a special meeting of stockholders for each company.

Photo Release -- WSFS and BMTC Receive Stockholder Approval to Combine

WILMINGTON, Del., June 09, 2021 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (Nasdaq: WSFS), the parent company of WSFS Bank, announced the merging of the WSFS Foundation and the WSFS Community Foundation to form the WSFS CARES Foundation.

WSFS Announces Formation of WSFS CARES Foundation to Further Bolster Community Support

WILMINGTON, Del., May 06, 2021 (GLOBE NEWSWIRE) -- WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), is pleased to announce the promotion of six Associates from business lines across the organization to Senior Vice President (SVP).

WSFS Bank Promotes Six Associates to Senior Vice President Positions

WILMINGTON, Del., April 29, 2021 (GLOBE NEWSWIRE) -- WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), today announced that Shari Kruzinski has been named Executive Vice President, Director of Retail Delivery. In her new role, she will continue to oversee the Bank's retail network, contact center, and retail operations and report to Rick Wright, EVP, Chief Retail Banking Officer.

Photo Release -- WSFS Bank Announces Promotion of Shari Kruzinski to Executive Vice President

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This article series provides a weekly summary of dividend changes.

Dividend Increases: April 17-23, 2021

WILMINGTON, Del., April 27, 2021 (GLOBE NEWSWIRE) -- More than 100 WSFS Bank Associates, their children and family members volunteered on April 22 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 Bank Associates and Their Children Volunteer Across the Region for Take Your Children to the Community Day

WSFS Financial Corporation (WSFS) Management on Q1 2021 Results - Earnings Call Transcript

WSFS (WSFS) delivered earnings and revenue surprises of 57.95% and 2.59%, respectively, for the quarter ended March 2021. Do the numbers hold clues to what lies ahead for the stock?

WSFS Financial (WSFS) Beats Q1 Earnings and Revenue Estimates

WILMINGTON, Del., April 22, 2021 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (Nasdaq: WSFS), the parent company of WSFS Bank, today announced its financial results for the first quarter of 2021.

WSFS Reports 1Q 2021 EPS of $1.36 and ROA of 1.85%; Results Reflect Diversified Revenue and Improving Credit Trends; Board Approves an 8% Increase in Cash Dividend

NEW YORK, April 20, 2021 /PRNewswire/ -- Juan Monteverde , founder and managing partner at Monteverde & Associates PC, a national securities firm rated Top 50 in the 2018 and 2019 ISS Securities Class Action Services Report and headquartered at the Empire State Building in New York City, is investigating WSFS Financial Corp. ("WSFS" or the "Company") (WSFS) relating to its proposed acquisition of Bryn Mawr Bank Corp. Under the terms of the agreement, Bryn Mawr shareholders are expected to receive 0.90 shares of WSFS per share. The investigation focuses on whether WSFS Financial Corp. and its Board of Directors violated securities laws and/or breached their fiduciary duties to the Company by 1) failing to conduct a fair process, and 2) whether the transaction is properly valued.

SHAREHOLDER ALERT: Monteverde & Associates PC Announces an Investigation of WSFS Financial Corp. - WSFS

WILMINGTON, Del., April 08, 2021 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (Nasdaq: WSFS), the parent company of WSFS Bank, expects to report its first quarter earnings at the end of business Thursday, April 22, 2021. Management will conduct a conference call to review this information at 1:00 p.m. Eastern Daylight Time (EDT) on Friday, April 23, 2021. Interested parties may listen to this call by dialing 1-877-312-5857 and using conference ID # 4169716.

WSFS Financial Corporation Announces First Quarter 2021 Earnings Release Date and Conference Call

IRVINE, Calif.--(BUSINESS WIRE)--PatientFi®, a point of sale financing company that helps make elective procedures more affordable for patients, announced the appointment of Gerard (Gerry) P. Cuddy to its Board of Directors. Cuddy is an accomplished executive with over 30 years of experience in the banking and financial services industry. He was the President and CEO of Beneficial Bank from 2007 through 2019. During his tenure, Cuddy led Beneficial through its initial public offering, a period

PatientFi® Adds Veteran Banking Executive Gerry Cuddy to its Board of Directors

WILMINGTON, Del., April 01, 2021 (GLOBE NEWSWIRE) -- WSFS Financial Corporation, the parent company of WSFS Bank, today announced the opening of its new banking office located at 1238 West Baltimore Pike, Media, PA 19063. The new Granite Run banking office features an innovative design and modern amenities including banking pods designed to support the Bank's universal banking Customer service model.

Photo Release -- WSFS Announces Opening of Granite Run Location Featuring Updated Banking Office Design

WILMINGTON, Del., March 30, 2021 (GLOBE NEWSWIRE) -- WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), received The Gallup Exceptional Workplace Award for the fifth time.

WSFS Bank Receives the 2021 Gallup Exceptional Workplace Award

Bryn Mawr Bank

In the banking industry now, scale is key, and this acquisition will give WSFS a major boost in that regard.

The WSFS-Bryn Mawr Merger Is Expensive, but It Will Pay Off

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NEW YORK, March 11, 2021 /PRNewswire/ -- Halper Sadeh LLP, a global investor rights law firm, announces it is investigating the following companies: PRA Health Sciences, Inc. (NASDAQ: PRAH) concerning potential violations of the federal securities laws and/or breaches of fiduciary duties relating to its sale to ICON plc. Under the terms of the transaction, PRA Health shareholders will receive $80.00 in cash and 0.4125 shares of ICON stock for each PRA Health share that they own.

INVESTIGATION ALERT: Halper Sadeh LLP Investigates PRAH, MIK, WSFS, TLND, SVBI; Shareholders are Encouraged to Contact the Firm

WILMINGTON, Del., March 11, 2021 (GLOBE NEWSWIRE) -- Kroll Bond Rating Agency (KBRA) affirmed the ratings of WSFS Financial Corporation (NASDAQ: WSFS) (“WSFS”) following the March 10, 2021 announcement to combine with Bryn Mawr Bank Corporation (NASDAQ: BMTC) (“Bryn Mawr”). Upon the close of the transaction, Bryn Mawr Trust, the wholly owned subsidiary of Bryn Mawr, will merge into WSFS Bank, a wholly owned subsidiary of WSFS. With a “Stable Outlook” for WSFS, KBRA said it considers the transaction to be “strategically sound given that it represents a scale play for both companies, particularly in light of the recent focus on technology investment and integration. The combined organization will have the largest deposit market share within the Philadelphia MSA among community/regional banks by a reasonably-wide margin with an expanded wealth platform.”

KBRA Affirms Ratings for WSFS Financial Corporation Following its Announcement to Combine with Bryn Mawr Bank Corporation

NEW YORK, March 11, 2021 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Bryn Mawr Bank Corporation ("Bryn Mawr" or the "Company") (NASDAQ: BMTC) in connection with the proposed acquisition of the Company by WSFS Financial Corporation ("WSFS") (NASDAQ: WSFS).  Under the terms of the merger agreement, Bryn Mawr shareholders will receive 0.90 shares of WSFS common stock for each Bryn Mawr share that they own, representing an implied per-share value of $48.55 for Bryn Mawr stockholders based on the $53.94 closing price of WSFS stock on March 9, 2021.

SHAREHOLDER ALERT: WeissLaw LLP Investigates Bryn Mawr Bank Corporation

NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLP, a global investor rights law firm, is investigating whether the merger of WSFS Financial Corporation (NASDAQ: WSFS) and Bryn Mawr Bank Corporation is fair to WSFS shareholders. Under the terms of the agreement, stockholders of Bryn Mawr will receive 0.90 of a share of WSFS common stock for each share of Bryn Mawr common stock. Halper Sadeh encourages WSFS shareholders to click here to learn more about their legal rights and options or contact Daniel

WSFS Merger Investigation: Halper Sadeh LLP Announces Investigation Into Whether the Merger of WSFS Financial Corporation Is Fair to Shareholders; Investors Are Encouraged to Contact the Firm – WSFS

Combination accelerates delivery and talent transformations by providing greater scale to leverage existing investments and enhance long-term initiatives. Combination accelerates delivery and talent transformations by providing greater scale to leverage existing investments and enhance long-term initiatives.

Photo Release -- WSFS Financial Corporation to Combine with Bryn Mawr Bank Corporation, Solidifies Position as the Premier Bank and Wealth Management Franchise in the Greater Philadelphia and Delaware Region

WILMINGTON, Del., March 08, 2021 (GLOBE NEWSWIRE) -- Today, WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), announced a total contribution of $850,000 for Educational Improvement Tax Credit Programs (EITC) and Opportunity Scholarship Tax Credit Programs (OSTC), supporting 65 schools and educational programs in Pennsylvania.

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