PARENT COMPANY FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2024

Condensed Financial Information Disclosure [Abstract]

Schedule of Condensed Statements of Income

Condensed Statements of Income

	Year Ended December 31,
(Dollars in thousands)	2024		2023		2022
Income:
Interest income	$	1,252	$	817	$	374
Realized gain on sale of equity investment	2,105		9,493		—
Unrealized gains on equity investments, net	—		2,489		5,379
Other noninterest income	219,063		98,067		251,382
	222,420		110,866		257,135
Expense:
Interest expense	16,661		16,610		11,763
Other operating expense	7,651		6,965		11,489
	24,312		23,575		23,252
Income before equity in undistributed income of subsidiaries	198,108		87,291		233,883
Equity in undistributed income (loss) of subsidiaries	64,429		182,396		(12,672)
Income before taxes	262,537		269,687		221,211
Income tax (benefit) expense	(1,134)		531		(1,164)
Net income attributable to WSFS	$	263,671	$	269,156	$	222,375

Schedule of Condensed Statements of Financial Condition

Condensed Statements of Financial Condition

	December 31,
(Dollars in thousands)	2024		2023
Assets:
Cash and cash equivalents	$	275,431	$	197,270
Investment in subsidiaries	2,620,282		2,585,151
Investment in Trusts(1)	2,785		2,785
Other assets	3,943		5,869
Total assets	$	2,902,441	$	2,791,075
Liabilities:
Trust preferred borrowings	$	90,834	$	90,638
Senior and subordinated debt	218,631		218,400
Accrued interest payable	822		949
Other liabilities	2,402		3,452
Total liabilities	312,689		313,439
Stockholders’ equity:
Common stock	763		761
Capital in excess of par value	1,996,191		1,984,746
Accumulated other comprehensive loss	(624,877)		(593,991)
Retained earnings	1,871,523		1,643,657
Treasury stock	(653,848)		(557,537)
Total stockholders’ equity of WSFS	2,589,752		2,477,636
Total liabilities and stockholders’ equity of WSFS	$	2,902,441	$	2,791,075

(1)Includes WSFS Capital Trust III, Royal Bancshares Capital Trust I, and Royal Bancshares Capital Trust II.

Schedule of Condensed Statements of Cash Flows

Condensed Statements of Cash Flows

	Year Ended December 31,
(Dollars in thousands)	2024		2023		2022
Operating activities:
Net income attributable to WSFS	$	263,671	$	269,156	$	222,375
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed (income) loss of subsidiaries	(64,429)		(182,396)		12,672
Realized gain on sale of equity investments	(2,105)		(9,493)		—
Unrealized gains on equity investments	—		(2,489)		(5,379)
Decrease in other assets	15,932		31,254		2,569
(Decrease) increase in other liabilities	(747)		3,488		812
Net cash provided by operating activities	$	212,322	$	109,520	$	233,049
Investing activities:
Payments for investment in and advances to subsidiaries	(2,511)		—		—
Net cash for business combinations	$	—	$	—	$	101,734
Net cash (used for) provided by investing activities	$	(2,511)	$	—	$	101,734
Financing activities:
Issuance of common stock and exercise of common stock options	$	466	$	3,298	$	3,179
Redemption of senior and subordinated debt	—		(30,000)		—
Purchase of treasury stock	(96,311)		(54,647)		(200,083)
Dividends paid	(35,805)		(36,742)		(35,746)
Net cash used for financing activities	$	(131,650)	$	(118,091)	$	(232,650)
Increase (decrease) in cash and cash equivalents	$	78,161	$	(8,571)	$	102,133
Cash and cash equivalents at beginning of period	197,270		205,841		103,708
Cash and cash equivalents at end of period	$	275,431	$	197,270	$	205,841