Financial Data and Key Metrics Changes - The core net interest margin for Q4 2022 was 4.49%, an increase of 50 basis points or 13% compared to Q3 2022 [6] - Core EPS, core ROA, and core PPNR increased by 12%, 13%, and 14% respectively from the previous quarter [8] - Total customer deposits declined approximately 2% linked quarter or 6% annualized, primarily due to lower institutional trust deposits and seasonal runoff [7] Business Line Data and Key Metrics Changes - Loan growth was solid, with expectations for mid-single-digit growth across all lending portfolios in 2023 [8][9] - Core fee revenue growth is anticipated in the mid- to high single digits, driven by Cash Connect's variable rate fee pricing and franchise growth [12] - The investment portfolio has grown to be in the high 20% of total assets, generating over $40 million of pretax income in 2022 [10] Market Data and Key Metrics Changes - The company expects deposits to remain relatively flat by year-end, with a loan-to-deposit ratio of 73% [9] - The company has a well-diversified deposit base, with over 50% of deposits coming from outside the consumer and branch network [23] Company Strategy and Development Direction - The company aims to optimize franchise investments made over the past several years following the successful integration of BMT Bank [8] - The strategy includes deploying excess liquidity into the investment portfolio while maintaining a focus on loan growth [10] - The company plans to continue investing in technology and talent to enhance customer experiences and internal efficiencies [13] Management's Comments on Operating Environment and Future Outlook - Management expects muted economic growth in the near term but is optimistic about the company's position to capitalize on growth opportunities [8] - The outlook for 2023 includes expectations for a flat yield environment and mild recessionary growth rates in the second half of the year [9] - Management highlighted the importance of maintaining a competitive deposit pricing strategy to retain and grow the customer base [9][23] Other Important Information - The company anticipates a core efficiency ratio in the mid-50s, reflecting ongoing investments in the franchise [13] - Provision costs are expected to be between 40 to 50 basis points of average loans for the year, driven by loan growth and economic forecasts [12] Q&A Session Summary Question: Clarification on loan growth and cash flow from securities - Management confirmed that loan growth and cash flow from the investment portfolio are expected to offset each other, with funding potentially coming from wholesale borrowings [16] Question: Loan growth weighting throughout the year - Management indicated that the loan pipeline has been consistent, with no significant front-loading expected [21] Question: Deposit strategy and costs - Management discussed their deposit strategy, emphasizing a competitive approach to retain existing customers and attract new ones [22][23] Question: Impact of economic conditions on guidance - Management acknowledged that a mild recession could impact fee income, particularly in mortgage banking and wealth management [27] Question: Share buyback strategy - Management outlined a waterfall approach to capital allocation, balancing share repurchases with organic growth and capital needs [31] Question: Deposit beta and pricing strategies - Management confirmed that deposit betas have been increasing, with a focus on competitive pricing for CDs and variable rate products [34][36]

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 September 30, 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 (State or other ...

WSFS Financial Corporation (NASDAQ:WSFS) Q3 2022 Earnings Conference Call October 25, 2022 1:00 PM ET Company Participants Dominic Canuso - CFO Art Bacci - Chief Wealth Officer Rick Wright - Chief Retail Banking Officer Conference Call Participants Frank Schiraldi - Piper Sandler Manuel Navas - D.A. Davidson Operator Good day and thank you for standing by. Welcome to the WSFS Financial Corporation Third Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. After the spe ...

WSFS Financial Corporation 1 3Q 2022 Earnings Release Supplement October 2022 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, 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 (State or other juris ...

WSFS Financial Corporation 1 2Q 2022 Earnings Release Supplement July 2022 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 object ...

WSFS Financial Corporation (NASDAQ:WSFS) Q2 2022 Earnings Conference Call July 26, 2022 1:00 PM ET Company Participants Dominic Canuso - Chief Financial Officer Rodger Levenson - Chairman, President and Chief Executive Officer Art Bacci - Chief Wealth Officer Conference Call Participants Frank Schiraldi - Piper Sandler Mike Perito - KBW Operator Ladies and gentlemen, thank you for standing by and welcome to the WSFS Financial Corporation Second Quarter Earnings Conference Call. At this time, all participant ...

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, 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 (State or other juri ...

WSFS Financial Corporation (NASDAQ:WSFS) Q1 2022 Earnings Conference Call April 22, 2022 1:00 PM ET Company Participants Rodger Levenson - Chairman, President and CEO Dominic Canuso - CFO Steve Clark - EVP and Chief Commercial Banking Officer Art Bacci - Chief Wealth Officer Rick Wright - Chief Retail Banking Officer Conference Call Participants Frank Schiraldi - Piper Sandler Michael Perito - KBW Russell Gunther - D.A. Davidson Operator Thank you for standing by and welcome to the WSFS Financial Corporatio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) For the fiscal year ended December 31, 2021 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 Jurisdiction of Incorporation or Organization) | (I.R.S. Employer Identifi ...