Financial Data and Key Metrics Changes - WSFS Financial Corporation reported full year core earnings per share of $4.55, core return on tangible common equity of 22.48%, and core return on assets of 1.38%, all exceeding 2022 levels [5][6] - Customer deposit growth was 3% linked quarter or 13% annualized, with a full year customer deposit growth of 2% [6][7] - Loan growth was 1% linked quarter or 3% annualized, with a full year loan growth of 7% and a year-end loan-to-deposit ratio of 77% [7][8] - Core net interest margin for the quarter was 3.99%, with interest-bearing deposit beta at 44% [8] - Core fee revenue growth was 6% linked quarter and 10% for the full year, with a core fee revenue ratio of 30.4% in the fourth quarter [8][9] - The core efficiency ratio was 54.5% for the quarter, which would have been 56.2% excluding favorable one-time adjustments [9] Business Line Data and Key Metrics Changes - Growth in core fee revenue was driven by Wealth and Trust, Cash Connect, and Capital Markets businesses [8] - The Cash Connect business is expected to continue double-digit growth into 2024 due to market share gains from a competitor exiting the market [25][26] - The Wealth Management business is seeing strong pipelines and integration with commercial and consumer banking, contributing to growth in assets under management (AUM) [26] Market Data and Key Metrics Changes - The company expects a full year core return on assets of around 1.20% for 2024, assuming no interest rate cuts [12] - The loan-to-deposit ratio of 77% and consistent cash flows from the securities portfolio provide opportunities for relationship-based loans [14] Company Strategy and Development Direction - The company aims for top-quartile performance through a diverse business model and multiple strategies [13] - Continued investment in technology and hiring is planned to support long-term growth [39] - The company is looking at potential acquisitions in the fee business, although nothing is currently included in the guidance [53] Management's Comments on Operating Environment and Future Outlook - Management noted that recent economic data and comments from central banks have tempered expectations for lower interest rates [12] - The company anticipates net charge-offs to be between 50 and 60 basis points of average loans for the year, primarily driven by Upstart and NewLane [17] - Management expressed confidence in the stability of credit metrics and the ability to absorb unfavorable economic developments [19] Other Important Information - The balance sheet remains strong with an allowance for credit losses (ACL) coverage of 1.35% [10] - The company is focused on maintaining a strong capital position to capitalize on market opportunities and enhance shareholder returns [19] Q&A Session Summary Question: Clarification on NIM and rate cuts - Management agreed that each rate cut could lower the net interest margin by approximately 5 basis points, with the full impact not felt in 2024 if cuts occur in the second half [21][22] Question: Fee growth opportunities - Management highlighted strong growth opportunities in Wealth and Cash Connect, with confidence in double-digit growth for 2024 [24][26] Question: Consumer charge-offs and credit environment - Management noted stable charge-offs in unsecured consumer credit, with Upstart being the primary area of concern [27][28] Question: Buyback strategy - Management reiterated that their capital return philosophy remains unchanged, with routine buybacks supplementing dividends [31] Question: Loan growth expectations - Management expects mid-single digit loan growth across all segments for 2024, despite elevated payoffs in the C&I segment [54][55]

For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY 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 registrant as specified in its charter) Delaware 22-2866913 (State or other ...

WSFS Financial Corporation (NASDAQ:WSFS) Q3 2023 Results Earnings Conference Call October 24, 2023 1:00 PM ET Company Participants Arthur Bacci - Executive Vice President, Chief Wealth Officer and Interim Chief Financial Officer Rodger Levenson - Chairman, President and Chief Executive Officer Stephen Clark - Executive Vice President and Chief Commercial Banking Officer Conference Call Participants Frank Schiraldi - Piper Sandler Russell Gunther - Stephens, Inc. Feddie Strickland - Janney Montgomery Scott M ...

WSFS Financial Corporation 1 3Q 2023 Earnings Release Supplement October 2023 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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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, 2023 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 registrant as specified in its charter) Delaware 22-2866913 (State or other juris ...

WSFS Financial Corporation (NASDAQ:WSFS) Q2 2023 Earnings Conference Call July 25, 2023 1:00 PM ET Company Participants Dominic Canuso - CFO Rodger Levenson - Chairman, President & CEO Art Bacci - Chief Wealth Officer Steve Clark - Chief Commercial Banking Officer Shari Kruzinski - Chief Consumer Banking Officer Conference Call Participants Frank Schiraldi - Piper Sandler Michael Perito - KBW Feddie Strickland - Janney Montgomery Scott Manuel Navas - D.A. Davidson Russell Gunther - Stephens Operator Ladies ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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 March 31, 2023 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 registrant as specified in its charter) Delaware 22-2866913 (State or other juri ...

WSFS Financial Corporation 1 1Q 2023 Earnings Release Supplement April 2023 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 objec ...

Financial Data and Key Metrics Changes - The first quarter core PPNR percentage was 2.29% and core ROA was 1.27% [6] - Gross loans grew by $230 million in the quarter, with $155 million from commercial loans and $68 million from the Spring EQ consumer partnership [10] - The first quarter net interest margin was 4.25%, with loan yields increasing by 44 basis points to 6.42% [11] - Core fee revenue was $63.7 million, representing a 5% growth compared to the first quarter of 2022 [12] - The efficiency ratio for the quarter was 53.9%, indicating continued discipline in cost management [12] Business Line Data and Key Metrics Changes - Non-interest-bearing demand deposits comprised 33% of customer deposits, while no and low interest demand made up 53% [8] - Core fee revenue growth was 7% year-over-year when excluding fee income from BMT Insurance Advisors, which was sold in 2Q of 2022 [12] - Delinquencies increased by 32 basis points to 83 basis points of gross loans, primarily due to two C&I long-term problem loan relationships [14] Market Data and Key Metrics Changes - 73% of deposits are insured, with 64% FDIC insured and another 9% collateralized or otherwise protected [7] - The company utilized $1.1 billion of wholesale funding, which is only 6% of total balance sheet funding [8] - The ACL coverage ratio increased by 11 basis points to 1.28% [16] Company Strategy and Development Direction - The company remains focused on its relationship-based banking model and is well-positioned to continue executing its strategic plan objectives [17] - The management emphasized the importance of evaluating the macroeconomic and credit environment before making capital return decisions [22] - The company is open to both organic growth and potential acquisitions, while also considering share repurchases as excess capacity allows [22] Management Comments on Operating Environment and Future Outlook - Management acknowledged the uncertainty in the macroeconomic outlook and near-term market conditions but expressed confidence in the company's position [17] - The company plans to provide an update to its full-year outlook when reporting second-quarter earnings [16] - Management noted that deposit betas had increased to 28%, with potential for them to end in the mid to high 40s by the end of 2023 [18] Other Important Information - The company’s capital levels remain well above well-capitalized standards [9] - Problem assets continue to show positive trends post-COVID, with NPAs remaining stable at historical lows [14] - The investment portfolio is expected to cash flow at $50 million a month, which will fund some of the loan growth [25] Q&A Session Summary Question: Thoughts on deposit betas and industry trends - Management indicated that deposit betas increased to 28%, slightly higher than earlier expectations, with potential to reach mid to high 40s by year-end [18][19] Question: Non-interest-bearing deposit base and future trends - Management expects continued opportunities to grow the trust deposit business, though impacted by capital market flows [21] Question: Capital allocation strategy between organic growth and buybacks - Management stated that capital return decisions are based on the economic environment, with a focus on funding organic growth first [22] Question: Liquidity capacity and wholesale funding usage - Management confirmed a total capacity of $6.3 billion at FHLB, with expectations to utilize wholesale funding as needed based on loan growth [24][25] Question: Future provision levels and economic factors - Management noted that the ACL model has captured current economic uncertainty, with future provisions driven by net loan growth [27] Question: Charge-offs in consumer portfolios - Management clarified that charge-offs from the Upstart portfolio are expected to stabilize, with the focus on larger portfolios driving future charge-offs [29][30] Question: Securities portfolio repositioning - Management continues to evaluate the securities portfolio but is currently comfortable with its cash flow position [31] Question: Loan growth outlook and appetite - Management remains open for business, focusing on supporting existing customers while exploring new opportunities [34]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 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 Registrant as Specified in its Charter) | Delaware | 22-2866913 | | --- | --- | | (St ...