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SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2024
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 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. 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. Private Wealth Management, which includes Private Banking, serves high-net-worth clients and institutions by providing trustee and advisory services, financial planning, customized investment strategies, brokerage products such as annuities and customized banking services including 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 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 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.
The following tables show segment results for the three and nine months ended September 30, 2024 and 2023:
 Three Months Ended September 30, 2024Three Months Ended September 30, 2023
(Dollars in thousands)WSFS Bank
Cash
Connect®
Wealth
Management		TotalWSFS Bank
Cash
Connect®
Wealth
Management		Total
Statements of Income
External customer revenues:
Interest income$267,430 $— $5,954 $273,384 $245,520 $— $5,619 $251,139 
Noninterest income21,338 31,805 37,015 90,158 18,371 21,231 33,066 72,668 
Total external customer revenues288,768 31,805 42,969 363,542 263,891 21,231 38,685 323,807 
Inter-segment revenues:
Interest income8,587 293 28,414 37,294 7,213 340 27,011 34,564 
Noninterest income8,901 468 227 9,596 7,384 499 190 8,073 
Total inter-segment revenues17,488 761 28,641 46,890 14,597 839 27,201 42,637 
Total revenue306,256 32,566 71,610 410,432 278,488 22,070 65,886 366,444 
External customer expenses:
Interest expense86,768 — 9,112 95,880 60,133 — 8,404 68,537 
Noninterest expenses118,219 24,481 21,023 163,723 105,655 15,524 18,510 139,689 
Provision for (release of) credit losses18,426 — (4)18,422 18,544 — (130)18,414 
Total external customer expenses223,413 24,481 30,131 278,025 184,332 15,524 26,784 226,640 
Inter-segment expenses:
Interest expense28,707 4,885 3,702 37,294 27,351 4,068 3,145 34,564 
Noninterest expenses695 1,571 7,330 9,596 689 1,391 5,993 8,073 
Total inter-segment expenses29,402 6,456 11,032 46,890 28,040 5,459 9,138 42,637 
Total expenses252,815 30,937 41,163 324,915 212,372 20,983 35,922 269,277 
Income before taxes$53,441 $1,629 $30,447 $85,517 $66,116 $1,087 $29,964 $97,167 
Income tax provision21,108 22,904 
Consolidated net income64,409 74,263 
Net (loss) income attributable to noncontrolling interest(26)97 
Net income attributable to WSFS$64,435 $74,166 
Supplemental Information
Capital expenditures for the period ended$2,896 $124 $618 $3,638 $1,131 $— $10 $1,141 
Nine Months Ended September 30, 2024Nine Months Ended September 30, 2023
(Dollars in thousands)WSFS Bank
Cash
Connect®
Wealth
Management		TotalWSFS Bank
Cash
Connect®
Wealth
Management		Total
Statements of Income
External customer revenues:
Interest income$782,950 $— $17,293 $800,243 $703,210 $— $16,081 $719,291 
Noninterest income60,198 89,155 108,260 257,613 46,610 59,402 96,654 202,666 
Total external customer revenues843,148 89,155 125,553 1,057,856 749,820 59,402 112,735 921,957 
Inter-segment revenues:
Interest income23,132 1,119 84,606 108,857 20,037 1,058 72,686 93,781 
Noninterest income24,662 1,381 698 26,741 21,545 1,455 389 23,389 
Total inter-segment revenues47,794 2,500 85,304 135,598 41,582 2,513 73,075 117,170 
Total revenue890,942 91,655 210,857 1,193,454 791,402 61,915 185,810 1,039,127 
External customer expenses:
Interest expense241,528 — 31,484 273,012 152,582 — 19,733 172,315 
Noninterest expenses335,488 70,358 62,717 468,563 314,751 43,562 55,674 413,987 
Provision for credit losses53,046 — 328 53,374 62,589 — 666 63,255 
Total external customer expenses630,062 70,358 94,529 794,949 529,922 43,562 76,073 649,557 
Inter-segment expenses:
Interest expense85,725 12,308 10,824 108,857 73,744 11,478 8,559 93,781 
Noninterest expenses2,079 4,630 20,032 26,741 1,844 4,221 17,324 23,389 
Total inter-segment expenses87,804 16,938 30,856 135,598 75,588 15,699 25,883 117,170 
Total expenses717,866 87,296 125,385 930,547 605,510 59,261 101,956 766,727 
Income before taxes$173,076 $4,359 $85,472 $262,907 $185,892 $2,654 $83,854 $272,400 
Income tax provision63,567 66,880 
Consolidated net income199,340 205,520 
Net (loss) income attributable to noncontrolling interest(129)272 
Net income attributable to WSFS$199,469 $205,248 
Supplemental Information
Capital expenditures for the period ended$9,289 $247 $1,059 $10,595 $2,943 $— $10 $2,953 
The following table shows significant components of segment net assets as of September 30, 2024 and December 31, 2023:
 September 30, 2024December 31, 2023
(Dollars in thousands)WSFS Bank
Cash
Connect®
Wealth
Management		TotalWSFS Bank
Cash
Connect®
Wealth
Management		Total
Statements of Financial Condition
Cash and cash equivalents$585,912 $366,675 $38,331 $990,918 $600,483 $443,431 $48,986 $1,092,900 
Goodwill753,586 — 132,312 885,898 753,586 — 132,312 885,898 
Other segment assets18,574,502 17,097 436,794 19,028,393 18,191,585 15,654 408,635 18,615,874 
Total segment assets$19,914,000 $383,772 $607,437 $20,905,209 $19,545,654 $459,085 $589,933 $20,594,672