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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Interest income:    
Interest and fees on loans and leases $ 216,752 $ 224,703
Interest on mortgage-backed securities 24,745 25,897
Interest and dividends on investment securities:    
Taxable 699 700
Tax-exempt 1,487 1,484
Other interest income 7,195 8,838
Total interest income 250,878 261,622
Interest expense:    
Interest on deposits 71,104 72,795
Interest on Federal Home Loan Bank advances 938 308
Interest on senior and subordinated debt 2,074 2,449
Interest on trust preferred borrowings 1,523 1,756
Interest on other borrowings 23 9,036
Total interest expense 75,662 86,344
Net interest income 175,216 175,278
Provision for credit losses 17,350 15,138
Net interest income after provision for credit losses 157,866 160,140
Noninterest income:    
Loan and lease fee income 1,465 1,523
Bank owned life insurance income 727 1,200
Total non interest income 80,897 75,857
Noninterest expense:    
Salaries, benefits and other compensation 82,477 75,806
Occupancy expense 9,893 9,479
Equipment expense 12,728 10,692
Data processing and operations expenses 4,695 3,660
Professional fees 4,698 4,481
Marketing expense 1,695 1,782
FDIC expenses 2,578 3,982
Loan workout and other credit costs 240 1,071
Corporate development expense 59 208
Restructuring expense 260 0
Other operating expense 32,472 37,911
Noninterest expenses 151,795 149,072
Income before taxes 86,968 86,925
Income tax provision 21,101 21,202
Net income 65,867 65,723
Less: Net loss attributable to noncontrolling interest (29) (38)
Net income attributable to WSFS $ 65,896 $ 65,761
Earnings per share:    
Basic (in dollars per share) $ 1.13 $ 1.09
Diluted (in dollars per share) $ 1.12 $ 1.09
Weighted average shares of common stock outstanding:    
Basic (in shares) 58,451,947 60,352,200
Diluted (in shares) 58,713,452 60,521,951
Credit/debit card and ATM income    
Noninterest income:    
Noninterest income $ 18,743 $ 19,669
Investment management and fiduciary income    
Noninterest income:    
Noninterest income 39,281 32,928
Deposit service charges    
Noninterest income:    
Noninterest income 6,753 6,487
Mortgage banking activities, net    
Noninterest income:    
Noninterest income 1,800 1,647
Other income    
Noninterest income:    
Noninterest income $ 12,128 $ 12,403