GOODWILL AND INTANGIBLE ASSETS (Tables)

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Allocation of Goodwill to Our Reportable Operating Segments for Purposes of Goodwill Impairment Testing

The following table shows the allocation of goodwill to the reportable operating segments for purposes of goodwill impairment testing:

(Dollars in thousands)	WSFS Bank		Cash Connect		Wealth Management		Consolidated Company
December 31, 2019	$	452,629	$	—	$	20,199	$	472,828
Goodwill adjustments	—		—		—		—
June 30, 2020	$	452,629	$	—	$	20,199	$	472,828

Summary of Other Intangible Assets

The following table summarizes intangible assets:

(Dollars in thousands)	Gross Intangible Assets		Accumulated Amortization		Net Intangible Assets		Amortization Period
June 30, 2020
Core deposits	$	95,711	$	(18,033)	$	77,678	10 years
Customer relationships	17,561		(8,216)		9,345		7-15 years
Non-compete agreements	221		(168)		53		5 years
Loan servicing rights(1)	4,605		(1,994)		2,611		10-25 years
Total intangible assets	$	118,098	$	(28,411)	$	89,687
December 31, 2019
Core deposits	$	95,711	$	(13,326)	$	82,385	10 years
Customer relationships	17,561		(7,416)		10,145		7-15 years
Non-compete agreements	221		(146)		75		5 years
Loan servicing rights(2)	4,880		(1,568)		3,312		10-25 years
Total intangible assets	$	118,373	$	(22,456)	$	95,917

⁽¹⁾Includes impairment losses of $0.3 million and $0.4 million the three and six months ended June 30, 2020, respectively.

⁽²⁾Includes impairment losses of $0.5 million for the year ended December 31, 2019

Schedule of Estimated Amortization Expense of Intangibles

The following table presents the estimated future amortization expense on intangible assets:  

(Dollars in thousands)	June 30, 2020
Remaining in 2020	$	5,747
2021	11,194
2022	10,991
2023	10,847
2024	10,685
Thereafter	40,223
Total	$	89,687