SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Details of Segment Information

The following tables show segment results for the three months ended March 31, 2022 and 2021:

	Three Months Ended March 31, 2022								Three Months Ended March 31, 2021
(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	$	141,402	$	—	$	2,735	$	144,137	$	119,131	$	—	$	2,150	$	121,281
Noninterest income	18,825		10,070		31,679		60,574		23,348		9,702		14,772		47,822
Total external customer revenues	160,227		10,070		34,414		204,711		142,479		9,702		16,922		169,103
Inter-segment revenues:
Interest income	1,052		326		5,339		6,717		844		269		2,695		3,808
Noninterest income	6,490		365		186		7,041		3,695		286		401		4,382
Total inter-segment revenues	7,542		691		5,525		13,758		4,539		555		3,096		8,190
Total revenue	167,769		10,761		39,939		218,469		147,018		10,257		20,018		177,293
External customer expenses:
Interest expense	5,403		—		176		5,579		6,904		—		192		7,096
Noninterest expenses	148,501		7,549		18,407		174,457		80,544		7,298		7,777		95,619
Provision for (recovery of) credit losses	19,209		—		(238)		18,971		(19,593)		—		(567)		(20,160)
Total external customer expenses	173,113		7,549		18,345		199,007		67,855		7,298		7,402		82,555
Inter-segment expenses:
Interest expense	5,665		275		777		6,717		2,964		180		664		3,808
Noninterest expenses	551		1,145		5,345		7,041		687		1,087		2,608		4,382
Total inter-segment expenses	6,216		1,420		6,122		13,758		3,651		1,267		3,272		8,190
Total expenses	179,329		8,969		24,467		212,765		71,506		8,565		10,674		90,745
(Loss) income before taxes	$	(11,560)	$	1,792	$	15,472	$	5,704	$	75,512	$	1,692	$	9,344	$	86,548
Income tax provision							1,737								21,407
Consolidated net income							3,967								65,141
Net income attributable to noncontrolling interest							163								59
Net income attributable to WSFS							$	3,804							$	65,082
Supplemental Information
Capital expenditures for the period ended	$	1,647	$	—	$	—	$	1,647	$	1,270	$	—	$	—	$	1,270

The following table shows significant components of segment net assets as of March 31, 2022 and December 31, 2021:

	March 31, 2022								December 31, 2021
(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	$	1,773,611	$	479,576	$	30,582	$	2,283,769	$	1,039,046	$	477,806	$	16,087	$	1,532,939
Goodwill	750,275		—		136,890		887,165		452,629		—		20,199		472,828
Other segment assets	17,423,737		4,836		365,167		17,793,740		13,481,370		6,785		283,405		13,771,560
Total segment assets	$	19,947,623	$	484,412	$	532,639	$	20,964,674	$	14,973,045	$	484,591	$	319,691	$	15,777,327