SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2025

The following table shows segment results for the three months ended March 31, 2025 and 2024, and represent amounts included in management's reports that are regularly provided to the Company's CODM: Rodger Levenson, Chairman, President and Chief Executive Officer. The CODM evaluates performance based on pretax net income relative to resources used, and allocates resources based on these results.


	Three Months Ended March 31, 2025								Three Months Ended March 31, 2024
(Dollars in thousands)	WSFS Bank		Cash Connect®		Wealth and Trust		Total		WSFS Bank		Cash Connect®		Wealth and Trust		Total
Statements of Income
External client revenues:
Interest income	$	244,877	$	—	$	6,001	$	250,878	$	256,133	$	—	$	5,489	$	261,622
Interest expense	67,933		—		7,729		75,662		75,079		—		11,265		86,344
Net interest income	176,944		—		(1,728)		175,216		181,054		—		(5,776)		175,278
Noninterest income	16,695		24,535		39,667		80,897		16,220		26,350		33,287		75,857
Total external client revenues	193,639		24,535		37,939		256,113		197,274		26,350		27,511		251,135
Inter-segment revenues:
Interest income	7,534		421		25,642		33,597		6,566		440		28,871		35,877
Interest expense	26,063		3,897		3,637		33,597		29,311		3,129		3,437		35,877
Net interest income	(18,529)		(3,476)		22,005		—		(22,745)		(2,689)		25,434		—
Noninterest income	8,222		398		214		8,834		7,273		435		207		7,915
Total inter-segment revenues	(10,307)		(3,078)		22,219		8,834		(15,472)		(2,254)		25,641		7,915
Total revenue	183,332		21,457		60,158		264,947		181,802		24,096		53,152		259,050
External client expenses:
Provision for credit losses	16,511		—		839		17,350		14,820		—		318		15,138

Noninterest expenses:
Salaries, benefits and other compensation	63,937		2,621		15,919		82,477		52,295		2,554		13,957		75,806
Occupancy expense	9,525		—		368		9,893		9,213		14		252		9,479
Equipment expense	10,046		—		2,682		12,728		7,814		—		1,558		10,692
Professional fees	3,185		—		1,513		4,698		2,406		—		1,733		4,481
Other segment items(1)	23,456		15,837		2,706		41,999		34,904		19,367		3,005		48,614
Total external client expenses	126,660		18,458		24,027		169,145		121,452		21,935		20,823		164,210
Inter-segment expenses:
Noninterest expenses	612		1,445		6,777		8,834		642		1,409		5,864		7,915
Total inter-segment expenses	612		1,445		6,777		8,834		642		1,409		5,864		7,915
Total expenses	127,272		19,903		30,804		177,979		122,094		23,344		26,687		172,125
Income before taxes	$	56,060	$	1,554	$	29,354	$	86,968	$	59,708	$	752	$	26,465	$	86,925
Income tax provision							21,101								21,202
Consolidated net income							65,867								65,723
Net loss attributable to noncontrolling interest							(29)								(38)
Net income attributable to WSFS							$	65,896							$	65,761
Supplemental Information
Capital expenditures for the period ended	$	2,021	$	42	$	368	$	2,431	$	4,220	$	—	$	13	$	4,233

(1)Other segment items for each reportable segment includes:
WSFS Bank - data processing and operation expense, marketing expense, FDIC expense, loan workout and other credit costs, corporate development expense, restructuring expense, and certain other noninterest expenses.
Cash Connect® - data processing and operation expense, marketing expense, and certain other noninterest expenses, which includes external funding costs.
Wealth and Trust - data processing and operation expense, marketing expense, FDIC expense, loan workout and other credit costs, and certain other noninterest expenses

The following table shows significant components of segment net assets as of March 31, 2025 and December 31, 2024:


	March 31, 2025								December 31, 2024
(Dollars in thousands)	WSFS Bank		Cash Connect®		Wealth and Trust		Total		WSFS Bank		Cash Connect®		Wealth and Trust		Total
Statements of Financial Condition
Cash and cash equivalents	$	687,937	$	299,241	$	30,116	$	1,017,294	$	686,735	$	424,907	$	43,176	$	1,154,818
Goodwill	753,586		—		132,312		885,898		753,586		—		132,312		885,898
Other segment assets	18,169,624		10,676		465,458		18,645,758		18,292,205		12,536		468,846		18,773,587
Total segment assets	$	19,611,147	$	309,917	$	627,886	$	20,548,950	$	19,732,526	$	437,443	$	644,334	$	20,814,303