Core Insights - WSFS Financial is expected to report quarterly earnings of $0.98 per share, reflecting a decline of 14.8% year-over-year, while revenues are forecasted to be $266.75 million, indicating a slight increase of 0.5% [1] - There have been no revisions in the consensus EPS estimate over the last 30 days, suggesting stability in analysts' forecasts [1][2] - The consensus estimates for key metrics include a 'Net Interest Margin' of 3.7%, down from 4% in the same quarter last year, and an 'Efficiency Ratio' of 61.5%, up from 55.6% year-over-year [4] Financial Metrics - Analysts expect 'Total Non-Interest Income' to be $91.15 million, an increase from $87.21 million a year ago [5] - 'Net Interest Income' is projected to reach $175.60 million, down from $178.13 million in the previous year [5] - WSFS shares have increased by 1.6% over the past month, compared to a 2.1% increase in the Zacks S&P 500 composite [6]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Large accelerated filer x Accelerated filer ☐ Emerging growth company ☐ FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-35638 WSFS FINANCIAL CORPORATION (Exact name of regi ...

Financial Data and Key Metrics Changes - Core EPS for Q3 2024 was $1.08 per share, with a core ROA of 1.22% and a core return on tangible common equity of 16.96% [3] - Loans and deposits increased by 5% and 3% respectively on an annualized basis, with a loan to deposit ratio of 80% [4] - Core net interest income grew by 2% linked quarter, while net interest margin decreased by 7 basis points to 3.78% [6] - Total stockholders' equity increased by 8% linked quarter, resulting in a book value per share of $45.37 and a tangible book value per share of $28.56 [7] Business Line Data and Key Metrics Changes - Core fee revenue reached $90.1 million, up 5% linked quarter and 23% year-over-year, with wealth management fee revenue declining by 3% linked quarter but increasing by 12% year-over-year [4] - Cash Connect revenue increased by 3% linked quarter and 50% year-over-year, driven by increased bailment revenues [5] - Core Banking revenue surged by 25% over the prior quarter, primarily due to an annual earn-out payment from the sale of Spring EQ [5] Market Data and Key Metrics Changes - The company updated its full-year outlook to reflect a 50 basis points rate cut, maintaining its outlook for loans, deposits, fee revenue growth, and efficiency ratio [8] - The updated estimate for Q4 net interest margin is projected to be between 3.70% and 3.75% [9] Company Strategy and Development Direction - The company is focused on optimizing its network and driving efficiency in its Cash Connect business, while also evaluating future origination volumes with Spring EQ [5][17] - Management emphasized the importance of organic growth and strategic market share gains, particularly in light of competitor dynamics [22][34] Management's Comments on Operating Environment and Future Outlook - Management acknowledged economic uncertainty but expressed confidence in the company's ability to grow and deliver strong results [10] - The company plans to provide a full-year outlook for 2025 in January, indicating a cautious but optimistic approach to future performance [10] Other Important Information - The company successfully completed its trust accounting system conversion and upgraded its client account portal, positioning itself for future growth [5] - Non-performing assets increased by 12 basis points quarter-over-quarter, primarily due to two previously identified problem loans [6] Q&A Session Summary Question: Impact of hedge program on NIM - Management explained that the hedge program mitigates asset sensitivity, with a previous guidance of 5 basis points of NIM reduction for each 25 basis point rate cut [14][32] Question: Fee revenue trends and market share gains - Management noted significant market share gains in Cash Connect and emphasized the need to optimize the network for profitability [15][16] Question: Charge-offs and NPAs - Management clarified that the uptick in charge-offs was expected and driven by specific problem loans that were being monitored [19][20] Question: Deposit data and rate cuts - Management discussed proactive measures taken to reduce CD pricing and manage deposit costs in response to rate cuts [21][22] Question: Commercial loan pipeline - The commercial loan pipeline remains consistent with past quarters, indicating stable growth prospects [24]

WSFS Financial Corporation 1 3Q 2024 Earnings Release Supplement October 2024 Forward Looking Statements & Non-GAAP Forward Looking Statements: This presentation contains estimates, predictions, opinions, projections and other "forward-looking statements" as that phrase is defined in the Private Securities Litigation Reform Act of 1995. Such statements include, without limitation, references to the Company's predictions or expectations of future business or financial performance as well as its goals and obj ...

WSFS Financial (WSFS) reported $267.66 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 4.9%. EPS of $1.08 for the same period compares to $1.23 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $264.67 million, representing a surprise of +1.13%. The company has not delivered EPS surprise, with the consensus EPS estimate being $1.08.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall ...

WSFS Financial (WSFS) came out with quarterly earnings of $1.08 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $1.23 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this bank holding company would post earnings of $1.04 per share when it actually produced earnings of $1.08, delivering a surprise of 3.85%.Over the last four quarters, the company has surpassed consensus EPS estimates three times.WSFS, which belong ...

WSFS Bank Center WSFS Bank Place 1 500 Delaware Avenue 1818 Market Street Wilmington, DE 19801 Philadelphia, PA 19103 EXHIBIT 99.1 FOR IMMEDIATE RELEASE Investor Relations Contact: Andrew Basile (302) 504-9857; abasile@wsfsbank.com October 24, 2024 Media Contact: Kyle Babcock (215) 864-1795; kbabcock@wsfsbank.com WSFS REPORTS 3Q 2024 ROA OF 1.22% AND EPS OF $1.08; RESULTS REFLECT CONTINUED LOAN, DEPOSIT, AND FEE REVENUE GROWTH Wilmington, DE — WSFS Financial Corporation (Nasdaq: WSFS), the parent company of ...

Analysts on Wall Street project that WSFS Financial (WSFS) will announce quarterly earnings of $1.08 per share in its forthcoming report, representing a decline of 12.2% year over year. Revenues are projected to reach $264.67 million, increasing 3.7% from the same quarter last year.The consensus EPS estimate for the quarter has undergone a downward revision of 0.9% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial esti ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Large accelerated filer x Accelerated filer ☐ Emerging growth company ☐ FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-35638 WSFS FINANCIAL CORPORATION (Exact name of registran ...

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