WILMINGTON, Del.--(BUSINESS WIRE)--WSFS Financial Corporation (Nasdaq: WSFS), the parent company of WSFS Bank, will participate in Stephen's Virtual East Coast Conference. Rodger Levenson, WSFS' Chairman, President and Chief Executive Officer, and David Burg, Executive Vice President and Chief Financial Officer, will meet with investors on November 24, 2025. Presentation Materials: Management will refer to our most recent investor materials found on the Investor Relations section of WSFS' websi. ...

WILMINGTON, Del.--(BUSINESS WIRE)--The WSFS CARES Foundation, the charitable giving arm of WSFS Financial Corporation (Nasdaq: WSFS), announced it will contribute a $150,000 grant to the Todmorden Foundation to expand affordable housing opportunities in Wilmington, Delaware. The Todmorden Foundation is a nonprofit committed to providing access to affordable rental housing and enhancing the quality of life for Wilmington residents. The foundation manages several hundred affordable rental propert. ...

Core Points - WSFS Financial Corporation will participate in Piper Sandler's East Coast Financial Services Conference [1] - The event is scheduled for November 11, 2025, in Aventura, Florida [1] - Key executives attending include Rodger Levenson (Chairman, President, and CEO), David Burg (CFO), and Art Bacci (COO) [1]

WSFS Financial (WSFS) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.Since a changi ...

Financial Performance - For the three months ended September 30, 2025, earnings per share (EPS) was $1.37, and return on assets (ROA) was 1.44%, compared to $1.08 and 1.22% for the same period in 2024 [178]. - Net income for the three months ended September 30, 2025, was $76.4 million, an increase from $64.4 million for the same period in 2024 [200]. - Net interest income for the three months ended September 30, 2025, increased by $6.5 million to $184.023 million compared to the same period in 2024 [204]. - Noninterest income for the three months ended September 30, 2025, was $86.5 million, a decrease of $3.7 million from $90.2 million in the same period in 2024 [212]. - Noninterest expense for the nine months ended September 30, 2025, was $474.2 million, an increase of $5.6 million from $468.6 million for the same period in 2024 [213]. Asset and Liability Management - As of September 30, 2025, WSFS Financial Corporation had total assets of $20.8 billion and assets under management (AUM) and assets under administration (AUA) of $93.4 billion [173]. - Total liabilities decreased by $137.3 million to $18.1 billion at September 30, 2025, compared to December 31, 2024 [179]. - The company had a readily available, secured borrowing capacity of $5.6 billion from the FHLB and $2.3 billion through the Federal Reserve Discount Window as of September 30, 2025 [190]. - Interest-earning assets exceeded interest-bearing liabilities that mature or reprice within one year by $1.2 billion as of September 30, 2025 [197]. Capital and Equity - Stockholders' equity increased by $163.5 million to $2.8 billion at September 30, 2025, primarily due to $214.7 million of earnings [179]. - WSFS Financial Corporation maintained a total common equity Tier 1 capital ratio of 13.76% and total risk-based capital of 15.00% as of September 30, 2025, well above regulatory requirements [183]. - Tangible common equity increased to $1,779,596 thousand as of September 30, 2025, from $1,601,592 thousand at December 31, 2024 [218]. - Book value per share of common stock was $49.67 at September 30, 2025, an increase of $5.52 from $44.15 at December 31, 2024 [181]. Credit Quality - The provision for credit losses decreased by $11.9 million in the current quarter, reflecting favorable asset quality [202]. - Total nonperforming assets decreased by $54.8 million from December 31, 2024, to September 30, 2025, with a ratio of nonperforming assets to total assets decreasing from 0.61% to 0.35% [194]. - The ratio of allowance for credit losses to total loans and leases was 1.41% as of September 30, 2025, compared to 1.48% at December 31, 2024 [194]. - The total allowance for credit losses decreased to $185.5 million at September 30, 2025, from $195.3 million at December 31, 2024, primarily due to the resolution of problem loans and the Upstart loan sale [209]. Regulatory Environment - The One Big Beautiful Bill Act (OBBBA) signed into law on July 4, 2025, introduces immediate expensing of qualifying R&D expenditures but is not expected to materially impact the company [222]. - The GENIUS Act, signed into law on July 18, 2025, establishes a federal licensing framework for payment stablecoins, potentially increasing competition for banks [223]. - The Community Reinvestment Act (CRA) framework was revised, with the bank receiving a "Satisfactory" rating in its most recent evaluation [224]. - Recent regulatory developments include guidance to eliminate mandatory examination activities not required by statute, enhancing flexibility for community banks [228].

Core Points - WSFS Financial Corporation has appointed Michelle Hong to its Board of Directors, effective December 1, 2025 [1] - Hong will stand for election at the 2026 Annual Meeting of Shareholders [1] - She currently serves as a corporate director of PECO, an Exelon company, and is the Vice Chair-elect of the National Association of Corporate Directors (NACD) in Philadelphia [1] - Hong has an extensive background in financial services [1]

Financial Data and Key Metrics Changes - The company reported a core EPS of $1.40, core return on assets of 1.40%, and core return on tangible common equity of 18.7%, all showing improvement compared to the second quarter [3][4] - Year-over-year, core net income increased by 21%, core PP&R grew by 6%, and core earnings per share rose by 30% [3][4] - Tangible book value per share increased by 12% [4] - Net interest margin expanded by two basis points to 3.91% quarter over quarter [4] Business Line Data and Key Metrics Changes - The wealth and trust business grew by 13% year over year [5] - Core fee revenue was flat quarter over quarter but grew by 5% when excluding strategic exits [4] - Client deposits increased by 1% linked quarter and by 5% year over year, with non-interest deposits growing by 12% year over year [5] Market Data and Key Metrics Changes - Total net credit costs were $8.4 million this quarter, down $5.9 million compared to the prior quarter [7] - Non-performing assets (NPAs) declined by over 30% to 35 basis points, with delinquencies down by 34% [7] Company Strategy and Development Direction - The company intends to maintain elevated levels of buybacks while adjusting the pace based on macroeconomic conditions and business performance [8] - The management is focused on organic growth and is actively recruiting talent in commercial and wealth sectors [52][54] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to manage margins through deposit repricing and hedging strategies despite potential rate cuts [9][56] - The company plans to provide a full-year 2026 outlook in January, indicating a commitment to high performance [9] Other Important Information - The company returned $56.3 million of capital, including buybacks of $46.8 million, representing 1.5% of outstanding shares [8] - The commercial pipeline remains strong at approximately $300 million [7] Q&A Session Summary Question: What is the base case scenario for achieving the CET1 target? - Management indicated that they are currently buying back approximately 100% of net income and have the capacity to continue this for the next two to three years [15] Question: How are reserve levels being managed amid macro volatility? - Management stated that they are conservatively maintaining reserves due to potential macroeconomic volatility, despite good asset quality trends [18] Question: What is the outlook for the wealth and trust business? - The wealth business is seeing growth in new accounts and transactions, with institutional services up 30% and The Bryn Mawr Trust Company of Delaware up 20% year over year [26][28] Question: How does Cash Connect revenue forecast with changing rates? - Management confirmed that while revenue may decrease with rate cuts, expenses would also reduce, leading to overall profitability benefits [36][37] Question: What is the expected pace of loan payoffs from the consumer partnership? - The company expects a runoff of approximately $15 million to $17 million per month from the Spring EQ portfolio, while home lending is experiencing double-digit growth [42][43]

Financial Data and Key Metrics Changes - The company reported a core EPS of $1.40, core return on assets of 1.40%, and core return on tangible common equity of 18.7%, all showing improvement compared to the second quarter [3] - Year-over-year, core net income increased by 21%, core PP&R grew by 6%, and core earnings per share rose by 30% [3][4] - Tangible book value per share increased by 12%, and net interest margin expanded by 2 basis points to 3.91% quarter over quarter [4] Business Line Data and Key Metrics Changes - The wealth and trust business grew by 13% year over year, with total client deposits increasing by 1% linked quarter and 5% year over year [5] - Core fee revenue was flat quarter over quarter but grew by 5% when excluding strategic exits in wealth and trust [4] - Loans decreased by 1% linked quarter, primarily due to the sale of the Upstart loan portfolio, but residential mortgage and WSFS-originated consumer loan portfolios saw increases of 5% and 3% respectively [5][6] Market Data and Key Metrics Changes - Non-interest deposits grew by 12% year over year, representing over 30% of total client deposits [5] - The commercial pipeline increased to approximately $300 million, indicating strong demand in both C&I and commercial real estate [7] Company Strategy and Development Direction - The company intends to maintain elevated levels of buybacks while being flexible based on macroeconomic conditions and business performance [8] - Management emphasized a focus on organic growth and potential acquisitions, particularly in the wealth and trust sectors [52] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in asset quality improvements, with total net credit costs decreasing to $8.4 million, down $5.9 million from the prior quarter [7] - The company plans to provide a full-year 2026 outlook in January, indicating a commitment to high performance despite uncertainties in the macro environment [9] Other Important Information - The company returned $56.3 million of capital during the quarter, including $46.8 million in buybacks, representing 1.5% of outstanding shares [8] - The CET1 ratio stands at 14.39%, well above the medium-term target of 12% [8] Q&A Session Summary Question: What is the base case scenario for achieving the CET1 target? - Management indicated that they are currently buying back approximately 100% of net income and have the capacity to continue this for the next two to three years, depending on balance sheet dynamics and growth rates [14][15] Question: How are reserve levels being managed amid macro volatility? - Management noted that while there is capacity to release some reserves, they are maintaining a conservative approach due to potential economic volatility [18] Question: What is the outlook for the wealth and trust business? - The wealth business is seeing growth in new accounts and transactions, with institutional services up 30% and Bryn Mawr Trust up 20% year over year [26][28] Question: How does Cash Connect revenue forecast with changing rates? - Management confirmed that while revenue may decrease with rate cuts, expenses would also reduce, leading to a net profitability benefit [36][37] Question: What is the expected pace of loan payoffs from the consumer partnership? - The company expects a runoff of approximately $15 million to $17 million per month from the Spring EQ portfolio, while home lending is experiencing double-digit growth [42][43]

Financial Data and Key Metrics Changes - The company reported a core EPS of $1.4, a core return on assets of 1.48%, and a core return on tangible common equity of 18.7%, all of which increased compared to the second quarter [5] - Year-over-year, core net income rose by 21%, core PPNR grew by 6%, and core earnings per share increased by 30% [5] - Tangible book value per share increased by 12%, and net interest margin expanded by two basis points to 3.91% quarter over quarter [5][6] Business Line Data and Key Metrics Changes - Core fee revenue was flat quarter over quarter but grew by 5% when excluding the impact of strategic exits in Wealth and Trust [6] - The Wealth and Trust business grew by 13% year over year, with institutional services up 30% and Brimmore Trust of Delaware up 20% [6][32] Market Data and Key Metrics Changes - Total client deposits increased by 1% linked quarter and grew by 5% year over year, with non-interest deposits up 12% year over year [7] - Loans decreased by 1% linked quarter, primarily due to the sale of the Upstart loan portfolio and continued runoff in the Spring EQ portfolio [7] Company Strategy and Development Direction - The company intends to maintain elevated levels of buybacks while adjusting the pace based on macroeconomic conditions and business performance [11] - The management is focused on disciplined originations and proactive engagement with clients to maintain asset quality [24] - The company is exploring talent acquisition in both commercial and wealth businesses to enhance organic growth [66] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting the full-year outlook despite an additional rate cut in October [11] - The company is prepared for potential future rate cuts and has strategies in place to manage margins through deposit repricing and hedging [11][70] Other Important Information - The company returned $56.3 million of capital during the quarter, including $46.8 million in buybacks, representing 1.5% of outstanding shares [10] - Year-to-date, the company has repurchased 5.8% of its outstanding shares, maintaining a strong capital position with a CET1 of 14.39% [11] Q&A Session Summary Question: Achieving CET1 target and organic growth rates - Management indicated that they are currently buying back approximately 100% of net income and have high capital levels despite buybacks, allowing for continued buybacks for the next few years [18] Question: Asset quality and reserve levels - Management noted good momentum in asset quality and indicated a conservative approach to reserves due to macroeconomic volatility [24] Question: Growth in wealth and trust business - Management highlighted growth in new accounts and transactions, particularly in institutional services and Brimmore Trust of Delaware [32] Question: Cash Connect business and NII benefit - Management confirmed that while revenue from Cash Connect may decrease with rate cuts, expenses would offset this, leading to overall profitability benefits [46] Question: Commercial loan growth and consumer partnership payoffs - Management discussed the impact of problem loan payoffs and expected continued growth in the home lending business, offsetting runoff in the Spring EQ portfolio [54]

Financial Data and Key Metrics Changes - The company reported a core EPS of $1.40, core return on assets of 1.40%, and core return on tangible common equity of 18.7%, all showing improvement compared to the second quarter [3] - Year-over-year, core net income increased by 21%, core PP&R grew by 6%, and core earnings per share rose by 30% [3] - Tangible book value per share increased by 12% [4] - Net interest margin expanded by two basis points to 3.91% quarter over quarter [4] Business Line Data and Key Metrics Changes - The wealth and trust business grew by 13% year over year [5] - Core fee revenue was flat quarter over quarter but grew by 5% when excluding strategic exits [4] - Client deposits increased by 1% linked quarter and grew by 5% year over year, with non-interest deposits up by 12% year over year [5] - Loans decreased by 1% linked quarter, but residential mortgage and WSFS-originated consumer loan portfolios saw increases of 5% and 3%, respectively [5][6] Market Data and Key Metrics Changes - The commercial pipeline increased to approximately $300 million, indicating strong demand [6] - Total net credit costs were $8.4 million, down $5.9 million compared to the prior quarter, with net charge-offs at 30 bps [6] Company Strategy and Development Direction - The company plans to maintain elevated buybacks while adjusting the pace based on macroeconomic conditions and business performance [7] - Management emphasized a focus on organic growth and potential acquisitions in both depositories and fee verticals to achieve medium-term CET1 targets [12][14] - The wealth and trust business is expected to continue growing, with a focus on new accounts and transaction activity [25][28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to manage margins through deposit repricing and hedging strategies amid uncertain rate cuts [8][50] - The company plans to provide a full-year 2026 outlook in January, indicating a commitment to high performance [8] Other Important Information - The company returned $56.3 million of capital, including $46.8 million in buybacks, representing 1.5% of outstanding shares [7] - The company has a CET1 ratio of 14.39%, well above the medium-term target of 12% [7] Q&A Session Summary Question: What is the base case scenario for achieving the CET1 target? - Management indicated that they are currently buying back approximately 100% of net income and have the capacity to continue this for the next two to three years, depending on balance sheet dynamics and investment opportunities [12][14] Question: How are reserve levels being managed amid macro volatility? - Management noted that while there is capacity to release some reserves, they are maintaining conservative levels due to potential macroeconomic volatility [16][18] Question: What is the outlook for the wealth and trust business? - The wealth business is seeing growth in new accounts and transactions, with institutional services up 30% and The Bryn Mawr Trust Company of Delaware up 20% year over year [26][28] Question: How does the Cash Connect business forecast profitability amid rate changes? - Management confirmed that while fee revenue may decrease with rate cuts, expenses would also reduce, leading to overall profitability benefits [34][36] Question: What is the expected pace of consumer loan portfolio runoff? - The company expects the Spring EQ portfolio runoff to continue at a pace of $15 million to $17 million per month, while home lending is expected to grow positively [40][41]