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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest income:        
Interest and fees on loans and leases $ 216,005 $ 230,815 $ 432,757 $ 455,518
Interest on mortgage-backed securities 24,531 25,784 49,276 51,681
Interest and dividends on investment securities:        
Taxable 700 699 1,399 1,399
Tax-exempt 1,486 1,484 2,973 2,968
Other interest income 10,468 6,455 17,663 15,293
Total interest income 253,190 265,237 504,068 526,859
Interest expense:        
Interest on deposits 70,124 76,693 141,228 149,488
Interest on Federal Home Loan Bank advances 949 359 1,887 667
Interest on senior and subordinated debt 1,089 2,441 3,163 4,890
Interest on federal funds purchased 0 41 0 41
Interest on trust preferred borrowings 1,518 1,750 3,041 3,506
Interest on other borrowings 15 9,504 38 18,540
Total interest expense 73,695 90,788 149,357 177,132
Net interest income 179,495 174,449 354,711 349,727
Provision for credit losses 12,621 19,814 29,971 34,952
Net interest income after provision for credit losses 166,874 154,635 324,740 314,775
Noninterest income:        
Loan and lease fee income 1,430 1,706 2,895 3,229
Realized gain on sale of equity investments, net 18 2,130 18 2,130
Bank owned life insurance income 544 793 1,271 1,993
Total non interest income 88,009 91,598 168,906 167,455
Noninterest expense:        
Salaries, benefits and other compensation 89,145 83,249 171,622 159,055
Occupancy expense 8,829 9,387 18,722 18,866
Equipment expense 13,778 12,054 26,506 22,746
Data processing and operations expenses 5,010 4,807 9,705 8,467
Professional fees 6,211 4,781 10,909 9,262
Marketing expense 1,925 2,020 3,620 3,802
FDIC expenses 2,433 2,390 5,011 6,372
Loan workout and other credit costs 1,629 (1,278) 1,869 (207)
Corporate development expense (329) 158 (270) 366
Restructuring expense 0 0 260 0
Other operating expense 30,712 38,200 63,184 76,111
Noninterest expenses 159,343 155,768 311,138 304,840
Income before taxes 95,540 90,465 182,508 177,390
Income tax provision 23,319 21,257 44,420 42,459
Net income 72,221 69,208 138,088 134,931
Less: Net loss attributable to noncontrolling interest (105) (65) (134) (103)
Net income attributable to WSFS $ 72,326 $ 69,273 $ 138,222 $ 135,034
Earnings per share:        
Basic (in dollars per share) $ 1.28 $ 1.16 $ 2.40 $ 2.25
Diluted (in dollars per share) $ 1.27 $ 1.16 $ 2.39 $ 2.24
Weighted average shares of common stock outstanding:        
Basic (in shares) 56,702,264 59,833,207 57,572,272 60,092,704
Diluted (in shares) 56,851,797 59,958,628 57,765,602 60,237,232
Credit/debit card and ATM income        
Noninterest income:        
Noninterest income $ 18,309 $ 23,875 $ 37,052 $ 43,544
Investment management and fiduciary income        
Noninterest income:        
Noninterest income 43,774 37,606 83,055 70,534
Deposit service charges        
Noninterest income:        
Noninterest income 6,802 6,496 13,555 12,983
Mortgage banking activities, net        
Noninterest income:        
Noninterest income 2,341 2,217 4,141 3,864
Other income        
Noninterest income:        
Noninterest income $ 14,791 $ 16,775 $ 26,919 $ 29,178