SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2020

The following tables show segment results for the three months ended March 31, 2020 and 2019:


	Three Months Ended March 31, 2020														Three Months Ended March 31, 2019
(Dollars in thousands)	WSFS Bank		Cash Connect^®		Wealth Management		Total		WSFS Bank		Cash Connect^®		Wealth Management		Total
Statements of Income
External customer revenues:
Interest income	$	131,309	$	—	$	2,546	$	133,855	$	96,946	$	—	$	2,631	$	99,577
Noninterest income	18,072		11,679		11,096		40,847		17,264		12,402		11,456		41,122
Total external customer revenues	149,381		11,679		13,642		174,702		114,210		12,402		14,087		140,699
Inter-segment revenues:
Interest income	1,943		—		2,849		4,792		3,792		—		4,005		7,797
Noninterest income	2,907		229		173		3,309		1,883		177		186		2,246
Total inter-segment revenues	4,850		229		3,022		8,101		5,675		177		4,191		10,043
Total revenue	154,231		11,908		16,664		182,803		119,885		12,579		18,278		150,742
External customer expenses:
Interest expense	16,747		—		958		17,705		15,136		—		1,127		16,263
Noninterest expenses	73,085		8,223		7,188		88,496		82,577		8,030		6,985		97,592
Provision for credit losses	55,034		—		1,612		56,646		7,286		—		368		7,654
Total external customer expenses	144,866		8,223		9,758		162,847		104,999		8,030		8,480		121,509
Inter-segment expenses:
Interest expense	2,849		954		989		4,792		4,005		2,558		1,234		7,797
Noninterest expenses	402		741		2,166		3,309		363		545		1,338		2,246
Total inter-segment expenses	3,251		1,695		3,155		8,101		4,368		3,103		2,572		10,043
Total expenses	148,117		9,918		12,913		170,948		109,367		11,133		11,052		131,552
Income before taxes	$	6,114	$	1,990	$	3,751	$	11,855	$	10,518	$	1,446	$	7,226	$	19,190
Income tax provision							1,288								6,260
Consolidated net income							10,567								12,930
Net loss attributable to noncontrolling interest							(360)								(93)
Net income attributable to WSFS							10,927								13,023

The following table shows significant components of segment net assets as of March 31, 2020 and December 31, 2019:


	March 31, 2020														December 31, 2019
(Dollars in thousands)	WSFS Bank		Cash Connect^®		Wealth Management		Total		WSFS Bank		Cash Connect^®		Wealth Management		Total
Statements of Financial Condition
Cash and cash equivalents	$	177,508	$	320,077	$	7,525	$	505,110	$	202,792	$	357,494	$	11,466	$	571,752
Goodwill	452,629		—		20,199		472,828		452,629		—		20,199		472,828
Other segment assets	11,064,324		6,983		229,645		11,300,952		10,982,681		6,555		222,486		11,211,722
Total segment assets	$	11,694,461	$	327,060	$	257,369	$	12,278,890	$	11,638,102	$	364,049	$	254,151	$	12,256,302
Capital expenditures	$	2,282	$	211	$	38	$	2,531	$	11,806	$	2,120	$	272	$	14,198