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SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
SEGMENT INFORMATION
14. SEGMENT INFORMATION
As defined in ASC 280, Segment Reporting (ASC 280), an operating segment is a component of an enterprise that engages in business activities from which it may earn revenues and incur expenses, whose operating results are regularly reviewed by the enterprise’s chief operating decision makers to make decisions about resources to be allocated to the segment and assess its performance, and for which discrete financial information is available. The Company evaluates performance based on pretax net income relative to resources used, and allocate resources based on these results. The accounting policies applicable to the Company's segments are those that apply to its preparation of the accompanying unaudited Consolidated Financial Statements. Based on these criteria, the Company has identified three segments: WSFS Bank, Cash Connect®, and Wealth Management.
The WSFS Bank segment provides financial products to commercial and consumer customers. Commercial and Consumer Banking, Commercial Real Estate Lending and other banking business units are operating departments of WSFS Bank. These departments share the same regulators, the same market, many of the same customers and provide similar products and services through the general infrastructure of the Bank. Accordingly, these departments are not considered discrete segments and are appropriately aggregated in the WSFS Bank segment.
The Company's Cash Connect® segment provides ATM vault cash, smart safe and other cash logistics services through strategic partnerships with several of the largest networks, manufacturers and service providers in the ATM industry. Cash Connect® services non-bank and WSFS-branded ATMs and smart safes nationwide. The balance sheet category Cash in non-owned ATMs includes cash from which fee income is earned through bailment arrangements with customers of Cash Connect®.
The Wealth Management segment provides a broad array of planning and advisory services, investment management, trust services, and credit and deposit products to individual, corporate, and institutional clients through multiple integrated businesses. Bryn Mawr Trust® is our predominant Private Wealth Management brand, providing advisory, investment management and trustee services to institutions, affluent and high-net-worth individuals. The Bryn Mawr Trust Company of Delaware provides personal trust and fiduciary services to families and individuals across the U.S. and internationally. WSFS Institutional Services® provides trustee, agency, bankruptcy administration, custodial and commercial domicile services to institutional, corporate clients and special purpose vehicles. Private Wealth Management serves high-net-worth clients and institutions by providing trustee and advisory services, financial planning, customized investment strategies, brokerage products such as annuities and traditional banking services such as credit and deposit products tailored to its clientele. Private Wealth Management includes businesses that operate under the bank’s charter, through a broker/dealer and as a registered investment advisor (RIA). It generates revenue through a percentage fee based on account assets, fee-only arrangements, net interest income and other fee-only services such as estate administration, trust tax planning and custody. Powdermill® is a multi-family office specializing in providing independent solutions to high-net-worth individuals, families and corporate executives through a coordinated, centralized approach.
The following tables show segment results for the three and nine months ended September 30, 2023 and 2022:
 Three Months Ended September 30, 2023Three Months Ended September 30, 2022
(Dollars in thousands)WSFS Bank
Cash
Connect®
Wealth
Management		TotalWSFS Bank
Cash
Connect®
Wealth
Management		Total
Statements of Income
External customer revenues:
Interest income$245,520 $— $5,619 $251,139 $183,107 $— $3,458 $186,565 
Noninterest income18,371 21,231 33,066 72,668 17,585 15,416 29,650 62,651 
Total external customer revenues263,891 21,231 38,685 323,807 200,692 15,416 33,108 249,216 
Inter-segment revenues:
Interest income7,213 340 27,011 34,564 4,570 416 13,658 18,644 
Noninterest income7,384 499 190 8,073 6,906 431 222 7,559 
Total inter-segment revenues14,597 839 27,201 42,637 11,476 847 13,880 26,203 
Total revenue278,488 22,070 65,886 366,444 212,168 16,263 46,988 275,419 
External customer expenses:
Interest expense60,133 — 8,404 68,537 8,923 — 811 9,734 
Noninterest expenses105,655 15,524 18,510 139,689 104,817 9,646 18,454 132,917 
Provision for (recovery of) credit losses18,544 — (130)18,414 7,463 — (9)7,454 
Total external customer expenses184,332 15,524 26,784 226,640 121,203 9,646 19,256 150,105 
Inter-segment expenses:
Interest expense27,351 4,068 3,145 34,564 14,074 3,414 1,156 18,644 
Noninterest expenses689 1,391 5,993 8,073 653 1,185 5,721 7,559 
Total inter-segment expenses28,040 5,459 9,138 42,637 14,727 4,599 6,877 26,203 
Total expenses212,372 20,983 35,922 269,277 135,930 14,245 26,133 176,308 
Income before taxes$66,116 $1,087 $29,964 $97,167 $76,238 $2,018 $20,855 $99,111 
Income tax provision22,904 25,767 
Consolidated net income74,263 73,344 
Net income (loss) attributable to noncontrolling interest97 (38)
Net income attributable to WSFS$74,166 $73,382 
Supplemental Information
Capital expenditures for the period ended$1,131 $— $10 $1,141 $3,213 $16 $— $3,229 
Nine Months Ended September 30, 2023Nine Months Ended September 30, 2022
(Dollars in thousands)WSFS Bank
Cash
Connect®
Wealth
Management		TotalWSFS Bank
Cash
Connect®
Wealth
Management		Total
Statements of Income
External customer revenues:
Interest income$703,210 $— $16,081 $719,291 $481,683 $— $9,039 $490,722 
Noninterest income46,610 59,402 96,654 202,666 63,833 37,500 93,921 195,254 
Total external customer revenues749,820 59,402 112,735 921,957 545,516 37,500 102,960 685,976 
Inter-segment revenues:
Interest income20,037 1,058 72,686 93,781 7,720 1,148 27,865 36,733 
Noninterest income21,545 1,455 389 23,389 20,103 1,220 569 21,892 
Total inter-segment revenues41,582 2,513 73,075 117,170 27,823 2,368 28,434 58,625 
Total revenue791,402 61,915 185,810 1,039,127 573,339 39,868 131,394 744,601 
External customer expenses:
Interest expense152,582 — 19,733 172,315 20,475 — 1,243 21,718 
Noninterest expenses314,751 43,562 55,674 413,987 361,949 25,383 54,091 441,423 
Provision for credit losses62,589 — 666 63,255 34,647 — 46 34,693 
Total external customer expenses529,922 43,562 76,073 649,557 417,071 25,383 55,380 497,834 
Inter-segment expenses:
Interest expense73,744 11,478 8,559 93,781 29,013 4,896 2,824 36,733 
Noninterest expenses1,844 4,221 17,324 23,389 1,789 3,436 16,667 21,892 
Total inter-segment expenses75,588 15,699 25,883 117,170 30,802 8,332 19,491 58,625 
Total expenses605,510 59,261 101,956 766,727 447,873 33,715 74,871 556,459 
Income before taxes$185,892 $2,654 $83,854 $272,400 $125,466 $6,153 $56,523 $188,142 
Income tax provision66,880 49,929 
Consolidated net income205,520 138,213 
Net income attributable to noncontrolling interest272 287 
Net income attributable to WSFS$205,248 $137,926 
Supplemental Information
Capital expenditures for the period ended$2,943 $— $10 $2,953 $7,649 $16 $— $7,665 
The following table shows significant components of segment net assets as of September 30, 2023 and December 31, 2022:
 September 30, 2023December 31, 2022
(Dollars in thousands)WSFS Bank
Cash
Connect®
Wealth
Management		TotalWSFS Bank
Cash
Connect®
Wealth
Management		Total
Statements of Financial Condition
Cash and cash equivalents$241,531 $327,417 $42,532 $611,480 $317,022 $476,850 $43,386 $837,258 
Goodwill753,586 — 132,312 885,898 753,586 — 130,051 883,637 
Other segment assets18,132,659 11,662 399,293 18,543,614 17,824,946 10,429 358,485 18,193,860 
Total segment assets$19,127,776 $339,079 $574,137 $20,040,992 $18,895,554 $487,279 $531,922 $19,914,755