WSFS Financial (US:WSFS)2022-10-25 19:23Financial Performance Highlights - Core Return on Assets (ROA) increased to 1.52% in 3Q 2022, up from 1.27% in 2Q 2022[5] - Core Net Interest Margin (NIM) increased to 3.99% in 3Q 2022, up from 3.40% in 2Q 2022[5] - Core fee revenue was $64.9 million, representing 26.8% of core fee revenue percentage[5] - The company repurchased 1,664,550 shares of common stock for $81.0 million during the quarter[5] - Reported Earnings Per Share (EPS) was $1.16, with core EPS at $1.23[6] - Reported Return on Equity (ROE) was 12.40%, with core ROE at 13.10%[6] - Reported Return on Tangible Common Equity (ROTCE) was 22.78%, with core ROTCE at 24.01%[6] Loan and Deposit Trends - Total gross loans grew by 2% to $11.767 billion, representing an annualized growth of 8%[14] - Total customer deposits declined by 3% to $16.702 billion, representing an annualized decline of 13%[14] - Commercial loan growth was $75 million, representing an annualized growth of 3%[13] - Consumer loans experienced strong growth of $155 million[13] Asset Quality and Capital Management - Net credit costs were $8.5 million, including a $4.2 million increase in the Allowance for Credit Losses (ACL)[5] - The ACL ratio was 1.14%[6]