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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Interest income:      
Interest and fees on loans and leases $ 918,381 $ 845,271 $ 582,754
Interest on mortgage-backed securities 102,024 107,555 106,606
Interest and dividends on investment securities:      
Taxable 2,798 2,803 2,812
Tax-exempt 5,941 5,980 4,087
Other interest income 34,438 14,913 7,556
Total interest income 1,063,582 976,522 703,815
Interest expense:      
Interest on deposits 308,676 209,820 28,181
Interest on Federal Home Loan Bank advances 2,967 5,348 538
Interest on senior and subordinated debt 9,690 9,815 8,246
Interest on trust preferred borrowings 6,910 6,736 3,482
Interest on federal funds purchased 343 1,673 443
Interest on other borrowings 29,558 18,027 35
Total interest expense 358,144 251,419 40,925
Net interest income 705,438 725,103 662,890
Provision for credit losses 61,410 88,071 48,089
Net interest income after provision for (recovery of) credit losses 644,028 637,032 614,801
Noninterest income:      
Loan and lease fee income 6,681 5,718 6,275
Unrealized gains on equity investments, net 0 329 5,980
Realized gain on sale of equity investment, net 2,309 9,493 0
Bank owned life insurance income 4,724 4,642 1,804
Total non interest income 340,920 289,871 260,134
Noninterest expense:      
Salaries, benefits and other compensation 332,682 289,193 283,905
Occupancy expense 37,579 42,184 40,885
Equipment expense 47,744 42,242 40,994
Professional fees 20,164 21,200 18,497
Data processing and operations expenses 18,281 19,054 20,876
Marketing expense 7,824 7,914 7,230
FDIC expenses 12,166 15,887 6,098
Loan workout and other credit costs 2,123 852 702
Corporate development expense 473 3,931 42,749
Restructuring expense 2,193 (230) 22,473
Other operating expense 156,460 119,406 89,917
Total non interest expenses 637,689 561,633 574,326
Income before taxes 347,259 365,270 300,609
Income tax provision 83,764 96,245 77,961
Net income 263,495 269,025 222,648
Less: Net (loss) income attributable to noncontrolling interest (176) (131) 273
Net income attributable to WSFS $ 263,671 $ 269,156 $ 222,375
Basic earnings per share (in dollars per share) $ 4.43 $ 4.40 $ 3.50
Diluted earnings per share (in dollars per share) $ 4.41 $ 4.40 $ 3.49
Credit/debit card and ATM income      
Noninterest income:      
Noninterest income $ 88,710 $ 59,718 $ 40,088
Investment management and fiduciary revenue      
Noninterest income:      
Noninterest income 146,945 131,050 121,608
Deposit service charges      
Noninterest income:      
Noninterest income 26,664 25,393 24,484
Mortgage banking activities, net      
Noninterest income:      
Noninterest income 7,565 4,799 7,271
Other income      
Noninterest income:      
Noninterest income $ 57,322 $ 48,729 $ 52,624