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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WILMINGTON, Del., Jan. 13, 2022 (GLOBE NEWSWIRE) -- WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), is pleased to announce the promotion of three Associates from across the organization.

WSFS Bank Promotes Three Associates to Senior Positions

WILMINGTON, Del., Jan. 11, 2022 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (Nasdaq: WSFS), the parent company of Bryn Mawr Trust Wealth Management, today announced Brian J. Taylor, CTFA as its Senior Vice President, Wealth Director in Princeton, N.J., reporting to Jennifer Dempsey Fox, CFP®, President of Bryn Mawr Trust Wealth Management. Taylor will lead the Princeton team and be responsible for new business, community visibility, and brand development in the market.

Brian J. Taylor joins Bryn Mawr Trust Wealth Management as Senior Vice President, Wealth Director in Princeton, New Jersey

WILMINGTON, Del., Jan. 10, 2022 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (Nasdaq: WSFS), the parent company of WSFS Bank, expects to report its fourth quarter earnings at the end of business Monday, January 24, 2022. Management will conduct a conference call to review this information at 1:00 p.m. Eastern Time (ET) on Tuesday, January 25, 2022. Interested parties may register in advance of the call here or on our Investor Relations website (www.investors.wsfsbank.com).

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

WILMINGTON, Del., Jan. 06, 2022 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (Nasdaq: WSFS), the parent company of WSFS Bank, announced today that it finalized a settlement to resolve litigation against the counterparty to the 2010 stock purchase agreement by which WSFS purchased Christiana Bank & Trust Company (Christiana Trust). WSFS will receive $15 million under the settlement and anticipates a positive earnings per diluted common shares (EPS) impact of approximately $0.23 per share (after-tax) during the fourth quarter of 2021.

WSFS Reaches Litigation Settlement and Recovery of $15 Million, or $0.23 EPS

WILMINGTON, Del., Jan. 03, 2022 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (Nasdaq: WSFS), the parent company of WSFS Bank, completed the acquisition of the Bryn Mawr Bank Corporation (Nasdaq: BMTC) (“Bryn Mawr”), and its primary subsidiary, The Bryn Mawr Trust Company (“Bryn Mawr Trust”), as of January 1, 2022. In addition, in accordance with the merger agreement between WSFS and Bryn Mawr, Frank J. Leto, Lynn B. McKee, and Diego F. Calderin are joining the Board of Directors of WSFS and WSFS Bank. With the acquisition finalized, WSFS strengthens its position as the premier, locally headquartered bank and wealth management franchise in the Greater Philadelphia and Delaware region with approximately $20 billion in assets, and approximately $49 billion in assets under administration and management.

Photo Release -- WSFS Financial Corporation Completes Acquisition of Bryn Mawr Bank Corporation and Welcomes Three New Board Members

Bryn Mawr Bank

WSFS Financial (WSFS) buyout of Bryn Mawr (BMTC) is green-lighted by the Federal Reserve System, reflecting the regulator's confidence in the rationale behind and the synergies of the acquisition.

WSFS Financial (WSFS) Gets Fed's Nod to Buy Bryn Mawr (BMTC)

First Citizens BancShares

Webster Financial

After market close on Dec. 17, the Federal Reserve signed off on three bank mergers that have been in their pipeline.

The Fed Just Gave These 3 Stocks a Boost

Acquisition expected to close January 1, 2022

WSFS Financial Corporation Receives All Required Approvals to Acquire Bryn Mawr Bank Corporation

WILMINGTON, Del., Dec. 01, 2021 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (Nasdaq: WSFS), the parent company of WSFS Bank, is pleased to announce that Steve Dunn, Cody Snyder and Erik O'Neal have been named to the American Bankers Association's (ABA) Under 40 in Wealth Management. The awards, now in their second year, recognize wealth management and fiduciary professionals who are committed to the highest standards of achievement at work and in their communities.

Three WSFS Associates Named to American Bankers Association's Under 40 in Wealth Management

WILMINGTON, Del., Nov. 11, 2021 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (Nasdaq: WSFS), the parent company of WSFS Bank, will participate in the virtual D.A. Davidson Mid-Atlantic Bank Tour, November 17, 2021. Rodger Levenson, WSFS' Chairman, President and Chief Executive Officer, and Dominic C. Canuso, WSFS' Executive Vice President and Chief Financial Officer, will host discussions with investors.

WSFS Management to Hold Meetings with Investors at the D.A. Davidson Mid-Atlantic Bank Tour

Generation Z more optimistic that they will spend more on gifts this holiday season, prefer to celebrate locally versus traveling Generation Z more optimistic that they will spend more on gifts this holiday season, prefer to celebrate locally versus traveling

Regional Consumers Are Weary of Rising Prices and Economic Stability, Spurring Delays in Large Purchases and Expected Decreased Holiday Spending, WSFS Bank's Money Trends Survey Finds

WILMINGTON, Del., Nov. 02, 2021 (GLOBE NEWSWIRE) -- WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), is pleased to announce the promotion of seven Associates from business lines across the organization to Senior Vice President (SVP).

WSFS Bank Promotes Seven Associates to Senior Vice President Positions

WSFS (WSFS) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

All You Need to Know About WSFS (WSFS) Rating Upgrade to Buy

The expansion of WSFS' technology suite allows Customers to receive and make payments more easily The expansion of WSFS' technology suite allows Customers to receive and make payments more easily

WSFS Bank Launches Digital Integrated Payables Solution for Business Customers

WILMINGTON, Del., Oct. 25, 2021 (GLOBE NEWSWIRE) -- WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), today announced the launch of its 18th Annual Fall Food Drive to combat food insecurity across the Greater Philadelphia and Delaware region. WSFS banking office locations in the state of Delaware; Philadelphia, Bucks, Delaware and Montgomery counties in Pennsylvania; and Burlington and Camden counties in New Jersey will serve as convenient food deposit centers for WSFS Associates, Customers and members of the community to donate nonperishable food items.

WSFS Bank Teams Up With Local Organizations to Fight Food Insecurity Across the Region

WSFS Financial Corporation (WSFS) CEO Rodger Levenson on Q3 2021 Results - Earnings Call Transcript

WSFS (WSFS) delivered earnings and revenue surprises of 38.37% and -4.72%, respectively, for the quarter ended September 2021. Do the numbers hold clues to what lies ahead for the stock?

WSFS Financial (WSFS) Q3 Earnings Top Estimates

WILMINGTON, Del., Oct. 21, 2021 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (Nasdaq: WSFS), the parent company of WSFS Bank, today announced its financial results for the third quarter of 2021.

WSFS Reports 3Q 2021 EPS of $1.14 and ROA of 1.43%; Continued Strength From Diversified Business Model; $21.3 Million ACL Release as Positive Credit Trends Continue

WILMINGTON, Del., Oct. 18, 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, Chief Customer Officer (CCO) reporting to Rodger Levenson, Chairman, President and CEO. In her new role, she will lead the Bank's Customer division including Customer Experience and enterprise-wide Customer initiatives. Kruzinski will continue to oversee the Bank's retail offices, contact center, and retail operations, which all have significant Customer accountability.

Photo Release -- WSFS Bank Names Shari Kruzinski to Executive Vice President, Chief Customer Officer

WILMINGTON, Del., Oct. 13, 2021 (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 Thursday, October 21, 2021. Management will conduct a conference call to review this information at 1:00 p.m. Eastern Daylight Time (EDT) on Friday, October 22, 2021. Interested parties may listen to this call by dialing 1-877-312-5857 and using conference ID #6366609.

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

WILMINGTON, Del., Oct. 06, 2021 (GLOBE NEWSWIRE) -- WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), today announced Dr. Michelle L. Burroughs as its new Vice President, Director of Diversity, Equity and Inclusion (DE&I), reporting to Michael L. Conklin, Executive Vice President and Chief Human Resources Officer. Dr. Burroughs will support WSFS in creating and delivering a work environment designed to foster a culture of inclusion and ensure the long-term sustainability of the Company's DE&I efforts.

Photo Release -- Dr. Michelle L. Burroughs joins WSFS as Vice President, Director of Diversity, Equity and Inclusion

Partnership provides customers easier access to lending products tailored to their needs Partnership provides customers easier access to lending products tailored to their needs

WSFS Bank Launches Digital Personal Loans Platform, Powered by Upstart

WILMINGTON, Del., Sept. 15, 2021 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (Nasdaq: WSFS), the parent company of WSFS Bank, will participate virtually in the 2021 Stephens Annual Bank Forum on September 22, 2021. Rodger Levenson, WSFS' Chairman, President and Chief Executive Officer, and Dominic C. Canuso, Executive Vice President and Chief Financial Officer, will host the discussion.

WSFS Management to Meet with Analysts and Investors at the Stephens Annual Bank Forum

WILMINGTON, Del., Aug. 31, 2021 (GLOBE NEWSWIRE) -- John Ventura has joined WSFS Wealth Private Banking, a division of WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), as Senior Vice President, Senior Private Banking Relationship Manager. Reporting to Steven G. Kochie, Senior Vice President, Director of Wealth Private Banking, Ventura's primary focus will be developing and supporting client relationships, providing financial strategies and solutions, assisting clients with loans, lines of credit and other banking products and services.

John Ventura Joins WSFS Wealth® as Senior Vice President, Senior Private Banking Relationship Manager

WILMINGTON, Del., Aug. 26, 2021 (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.

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