Segment Information (Tables)

6 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

Details of Segment Information

Segment information for the three months ended June 30, 2015 and 2014 follows:

For the three months ended June 30, 2015:

(In Thousands)	WSFS Bank		Cash Connect		Wealth Management		Total
Statement of Operations
External customer revenues:
Interest income	$	41,043	$	—	$	2,012	$	43,055
Noninterest income		9,482		7,068		5,908		22,458
Total external customer revenues		50,525		7,068		7,920		65,513
Inter-segment revenues:
Interest income		876		—		1,638		2,514
Noninterest income		1,998		214		29		2,241
Total inter-segment revenues		2,874		214		1,667		4,755
Total revenue		53,399		7,282		9,587		70,268
External customer expenses:
Interest expense		3,822		—		143		3,965
Noninterest expenses		29,921		4,350		4,383		38,654
Provision for loan losses		3,610		—		163		3,773
Total external customer expenses		37,353		4,350		4,689		46,392
Inter-segment expenses:
Interest expense		1,638		389		487		2,514
Noninterest expenses		243		644		1,354		2,241
Total inter-segment expenses		1,881		1,033		1,841		4,755
Total expenses		39,234		5,383		6,530		51,147
Income before taxes	$	14,165	$	1,899	$	3,057	$	19,121
Income tax provision								6,887
Consolidated net income							$	12,234
Capital expenditures	$	299	$	2,570	$	13	$	2,882
As of June 30, 2015:
Statement of Condition
Cash and cash equivalents	$	89,298	$	442,229	$	2,164	$	533,691
Goodwill		43,853		—		5,134		48,987
Other segment assets		4,304,300		—		190,505		4,494,805
Total segment assets	$	4,437,451	$	442,229	$	197,803	$	5,077,483

For the three months ended June 30, 2014:

(In Thousands)	WSFS Bank			Cash Connect		Wealth Management		Total
Statement of Operations
External customer revenues:
Interest income	$	37,480		$	—	$	1,933	$	39,413
Noninterest income		8,778			6,320		4,525		19,623
Total external customer revenues		46,258			6,320		6,458		59,036
Inter-segment revenues:
Interest income		834			—		1,342		2,176
Noninterest income		1,711			204		27		1,942
Total inter-segment revenues		2,545			204		1,369		4,118
Total revenue		48,803			6,524		7,827		63,154
External customer expenses:
Interest expense		3,831			—		105		3,936
Noninterest expenses		28,316			3,882		3,026		35,224
Provision for loan losses		(201	)		—		251		50
Total external customer expenses		31,946			3,882		3,382		39,210
Inter-segment expenses:
Interest expense		1,342			328		506		2,176
Noninterest expenses		231			593		1,118		1,942
Total inter-segment expenses		1,573			921		1,624		4,118
Total expenses		33,519			4,803		5,006		43,328
Income before taxes	$	15,284		$	1,721	$	2,821	$	19,826
Income tax provision									7,101
Consolidated net income									12,725
Capital expenditures	$	815		$	33	$	—	$	848
As of December 31, 2014:
Statement of Condition
Cash and cash equivalents	$	73,395		$	431,527	$	3,117	$	508,039
Goodwill		43,517			—		5,134		48,651
Other segment assets		4,107,212			2,006		187,412		4,296,630
Total segment assets	$	4,224,124		$	433,533	$	195,663	$	4,853,320

Segment information for the six months ended June 30, 2015 and 2014 follows:

For the six months ended June 30, 2015:

(In Thousands)	WSFS Bank		Cash Connect		Wealth Management		Total
Statement of Operations
External customer revenues:
Interest income	$	81,866	$	—	$	4,040	$	85,906
Noninterest income		18,671		13,707		11,175		43,553
Total external customer revenues		100,537		13,707		15,215		129,459
Inter-segment revenues:
Interest income		1,747		—		3,085		4,832
Noninterest income		3,782		382		47		4,211
Total inter-segment revenues		5,529		382		3,132		9,043
Total revenue		106,066		14,089		18,347		138,502
External customer expenses:
Interest expense		7,734		—		265		7,999
Noninterest expenses		61,000		8,525		8,042		77,567
Provision for loan losses		4,343		—		216		4,559
Total external customer expenses		73,077		8,525		8,523		90,125
Inter-segment expenses:
Interest expense		3,085		762		985		4,832
Noninterest expenses		429		1,258		2,524		4,211
Total inter-segment expenses		3,514		2,020		3,509		9,043
Total expenses		76,591		10,545		12,032		99,168
Income before taxes	$	29,475	$	3,544	$	6,315	$	39,334
Income tax Provision								14,211
Consolidated net income							$	25,123
Capital expenditures	$	1,116	$	2,570	$	13	$	3,699
As of June 30, 2015:
Statement of Condition
Cash and cash equivalents	$	89,298	$	442,229	$	2,164	$	533,691
Goodwill		43,853		—		5,134		48,987
Other segment assets		4,304,300		—		190,505		4,494,805
Total segment assets	$	4,437,451	$	442,229	$	197,803	$	5,077,483

For the six months ended June 30, 2014:

(In Thousands)	WSFS Bank		Cash Connect		Wealth Management		Total
Statement of Operations
External customer revenues:
Interest income	$	73,401	$	—	$	3,797	$	77,198
Noninterest income		17,173		12,334		8,480		37,987
Total external customer revenues		90,574		12,334		12,277		115,185
Inter-segment revenues:
Interest income		1,665		—		2,763		4,428
Noninterest income		3,449		397		53		3,899
Total inter-segment revenues		5,114		397		2,816		8,327
Total revenue		95,688		12,731		15,093		123,512
External customer expenses:
Interest expense		7,461		—		216		7,677
Noninterest expenses		55,634		7,432		6,042		69,108
Provision for loan losses		2,122		—		558		2,680
Total external customer expenses		65,217		7,432		6,816		79,465
Inter-segment expenses:
Interest expense		2,763		659		1,006		4,428
Noninterest expenses		450		1,179		2,270		3,899
Total inter-segment expenses		3,213		1,838		3,276		8,327
Total expenses		68,430		9,270		10,092		87,792
Income before taxes	$	27,258	$	3,461	$	5,001	$	35,720
Income tax Provision								6,084
Consolidated net income							$	29,636
Capital expenditures	$	1,293	$	89	$	3	$	1,385
As of December 31, 2014:
Statement of Condition
Cash and cash equivalents	$	73,395	$	431,527	$	3,117	$	508,039
Goodwill		43,517		—		5,134		48,651
Other segment assets		4,107,212		2,006		187,412		4,296,630
Total segment assets	$	4,224,124	$	433,533	$	195,663	$	4,853,320