Wsfs Financial Corp 8-K, filed Oct 22, 2026
Wsfs Financial Corp (WSFS)
8-K
2026-10-22
For: 2026-10-22
View Original
Added on
October 22, 2026
About this 8-K
Wsfs Financial Corp filed this 8-K on October 22, 2026.
WSFS Financial Corporation reported 3Q 2026 core EPS of $1.75, up 25% from 3Q 2025, and a 3.88% net interest margin. Wealth and Trust fee revenue rose 30% year over year, while quarterly repurchases and dividends totaled $69.8 million. AI summary
Items reported
- Item 2.02: Financial results
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report
(Date of Earliest Event Reported)
(Exact Name of Registrant as Specified in its Charter)
| (State or Other Jurisdiction of incorporation) | (SEC Commission File Number) | (IRS Employer Identification Number) | ||||||||||||
(Address of Principal Executive Offices) (Zip Code)
Registrant’s Telephone Number, including Area Code: (302 ) 792-6000
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
| Securities registered pursuant to Section 12(b) of the Act: | ||||||||
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 40.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operation and Financial Condition
On October 22, 2026, WSFS Financial Corporation (the “Registrant”) issued a press release to report earnings for the quarter ended September 30, 2026. A copy of the press release is furnished with this Form 8-K as Exhibit 99.1.
This information (including Exhibit 99.1) is being furnished under Item 2.02 hereof and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and such information shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 7.01 Regulation FD Disclosures
The attached presentation contains information that the members of the Registrant's management will use during visits with investors, analysts, and other interested parties to assist their understanding of the Registrant from time to time throughout the fourth quarter of 2026. Other presentations and related materials will be made available as they are presented during the year. A copy of the earnings release supplement is furnished with this Form 8-K as Exhibit 99.2.
This information (including Exhibit 99.2) is being furnished under Item 7.01 hereof and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, and such information shall not be deemed incorporated by reference into any filing under the Securities Act, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Other Exhibits
(d) Exhibits.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, hereunto duly authorized.
| WSFS FINANCIAL CORPORATION | ||||||||||||||
| Date: | October 22, 2026 | By: | /s/ David Burg | |||||||||||
| David Burg Executive Vice President, Chief Financial Officer | ||||||||||||||
 | WSFS Bank Center | WSFS Bank Place | 1 | |||||||||||
| 500 Delaware Avenue | 1818 Market Street | |||||||||||||
| Wilmington, DE 19801 | Philadelphia, PA 19103 | |||||||||||||
| EXHIBIT 99.1 | ||||||||
| FOR IMMEDIATE RELEASE | Investor Relations Contact: Andrew Basile | |||||||
| (302) 504-9857; abasile@wsfsbank.com | ||||||||
| October 22, 2026 | Media Contact: Connor Peoples | |||||||
| (215) 864-5645; cpeoples@wsfsbank.com | ||||||||
WSFS REPORTS 3Q 2026 EPS OF $1.75, REFLECTING YOY GROWTH OF 28%,
ROA OF 1.58% AND NIM OF 3.88%;
WEALTH AND TRUST FEES UP 30% YOY
Wilmington, DE — WSFS Financial Corporation (Nasdaq: WSFS), the parent company of WSFS Bank, today announced its financial results for the third quarter of 2026.
Selected financial results and metrics are as follows:
| (Dollars in millions, except per share data) | 3Q 2026 | 2Q 2026 | 3Q 2025 | |||||||||||||||||||||||||||||
| Net interest income | $ | 196.6 | $ | 192.5 | $ | 184.0 | ||||||||||||||||||||||||||
| Fee revenue | 91.0 | 90.0 | 86.5 | |||||||||||||||||||||||||||||
| Total net revenue | 287.6 | 282.5 | 270.5 | |||||||||||||||||||||||||||||
| Provision for credit losses | 8.4 | 5.0 | 6.6 | |||||||||||||||||||||||||||||
| Noninterest expense | 161.6 | 166.3 | 163.1 | |||||||||||||||||||||||||||||
Net income attributable to WSFS | 89.3 | 84.4 | 76.4 | |||||||||||||||||||||||||||||
Pre-provision net revenue (PPNR)(1) | 126.0 | 116.2 | 107.4 | |||||||||||||||||||||||||||||
| Earnings per share (EPS) (diluted) | 1.75 | 1.63 | 1.37 | |||||||||||||||||||||||||||||
| Return on average assets (ROA) (a) | 1.58 | % | 1.52 | % | 1.44 | % | ||||||||||||||||||||||||||
| Return on average equity (ROE) (a) | 13.0 | 12.4 | 11.3 | |||||||||||||||||||||||||||||
| Fee revenue as % of total net revenue | 31.6 | 31.8 | 31.9 | |||||||||||||||||||||||||||||
| Efficiency ratio | 56.1 | 58.8 | 60.2 | |||||||||||||||||||||||||||||
GAAP results for the periods shown include items that are excluded from core results. Below is a summary of the financial effects of these items. For additional detail, refer to the Non-GAAP Reconciliation in the back of this press release.
| 3Q 2026 | 2Q 2026 | 3Q 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Dollars in millions, except per share data) | Total | Per share | Total | Per share | Total | Per share | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fee revenue (pre-tax) | $ | — | $ | — | $ | (2.2) | $ | (0.04) | $ | (1.5) | $ | (0.02) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Noninterest expense (pre-tax) | 0.1 | — | 0.1 | — | 0.9 | 0.01 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income tax impacts | (0.1) | — | (0.5) | (0.01) | (0.6) | (0.01) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(1) As used in this press release, PPNR is a non-GAAP financial measure that adjusts net income determined in accordance with GAAP to exclude the impacts of (i) income tax provision and (ii) provision for credit losses. For a reconciliation of this and other non-GAAP financial measures to their most directly comparable GAAP measures, see "Non-GAAP Reconciliation" at the end of the press release.
| WSFS Bank Center | WSFS Bank Place | 2 | |||||||||||
| 500 Delaware Avenue | 1818 Market Street | |||||||||||||
| Wilmington, DE 19801 | Philadelphia, PA 19103 | |||||||||||||
CEO Commentary and Highlights
Rodger Levenson, Chairman, CEO and President, said, "WSFS continued to perform well in the third quarter with a 25% year-over-year increase in core EPS(2). Our results include an expanded net interest margin, solid loan growth, and continued strong momentum in our Wealth and Trust franchise, which generated year-over-year fee growth of 30%. Additionally, we continued to execute our capital return framework through dividends and share repurchases, repurchasing nearly six percent of outstanding shares(3) in the first three quarters of 2026. We look forward to finishing the year out strong in the fourth quarter, while providing momentum as we enter 2027."
Overall highlights include:
•Core EPS of $1.75, an increase of 5% compared to 2Q 2026 and 25% compared to 3Q 2025.
•Core ROA(2) of 1.58%, an increase of 3bps compared to 2Q 2026 and 10bps compared to 3Q 2025.
•Gross loans and leases grew 5% annualized quarter-over-quarter.
•Net interest margin (NIM) of 3.88%, an increase of 1bp compared to 2Q 2026.
•Wealth and Trust delivered 30% year-over-year fee growth, continuing to produce consistent double-digit growth.
◦WSFS Institutional Services® fees increased 45%, The Bryn Mawr Trust Company of Delaware (BMT of DE), our personal trust business, increased 22%, and Private Wealth Management increased 14%.
•Our core efficiency ratio(2) was 56.1%, an improvement of 223bps compared to 2Q 2026 and 345bps compared to 3Q 2025.
•Repurchased $59.6 million of common stock (1.5% of outstanding shares(4)) and paid quarterly dividends of $10.2 million for a total capital return of $69.8 million.
(2)As used in this press release, core EPS, core ROA, and core efficiency ratio are non-GAAP financial measures. These non-GAAP financial measures exclude certain pre-tax adjustments and the tax impact of such adjustments. For a reconciliation of non-GAAP financial measures to their most directly comparable GAAP measures, see "Non-GAAP Reconciliation" at the end of the press release.
(3) Year-to-date 2026 repurchases represent 5.6% of outstanding shares as of December 31, 2025.
(4) 3Q 2026 repurchases represent 1.5% of outstanding shares as of June 30, 2026.
| WSFS Bank Center | WSFS Bank Place | 3 | |||||||||||
| 500 Delaware Avenue | 1818 Market Street | |||||||||||||
| Wilmington, DE 19801 | Philadelphia, PA 19103 | |||||||||||||
Third Quarter 2026 Discussion of Financial Results
Balance Sheet
The following table summarizes loan and lease balances and composition at September 30, 2026 compared to June 30, 2026 and September 30, 2025:
| Loans and Leases | ||||||||||||||||||||||||||||||||||||||
| (Dollars in millions) | September 30, 2026 | June 30, 2026 | September 30, 2025 | |||||||||||||||||||||||||||||||||||
Commercial & industrial (C&I)(5) | $ | 5,014 | 37 | % | $ | 4,944 | 37 | % | $ | 4,587 | 36 | % | ||||||||||||||||||||||||||
| Commercial mortgage | 3,885 | 29 | 3,884 | 29 | 3,856 | 30 | ||||||||||||||||||||||||||||||||
| Construction | 1,005 | 8 | 1,003 | 7 | 1,004 | 7 | ||||||||||||||||||||||||||||||||
| Commercial small business leases | 593 | 4 | 584 | 4 | 617 | 5 | ||||||||||||||||||||||||||||||||
| Total commercial loans and leases | 10,497 | 78 | 10,415 | 77 | 10,064 | 78 | ||||||||||||||||||||||||||||||||
| Residential mortgage | 1,353 | 10 | 1,271 | 10 | 1,062 | 8 | ||||||||||||||||||||||||||||||||
| Consumer | 1,813 | 13 | 1,815 | 14 | 1,897 | 15 | ||||||||||||||||||||||||||||||||
| Gross loans and leases | 13,663 | 101 | % | 13,501 | 101 | % | 13,023 | 101 | % | |||||||||||||||||||||||||||||
| Allowance for Credit Losses (ACL) | (185) | (1) | (177) | (1) | (183) | (1) | ||||||||||||||||||||||||||||||||
| Net loans and leases | $ | 13,478 | 100 | % | $ | 13,324 | 100 | % | $ | 12,840 | 100 | % | ||||||||||||||||||||||||||
At September 30, 2026, WSFS’ gross loan and lease portfolio increased $162.6 million, or 1% (not annualized), when compared with June 30, 2026. Home Lending continued to generate strong performance across both mortgages and home equity, with overall growth of 6%. Commercial loans increased 1%, led by growth in C&I, as well as an increase in commercial small business leases. This growth was partially offset by continued runoff of the Spring EQ portfolio.
Gross loans and leases at September 30, 2026 increased 5% when compared with September 30, 2025. Excluding the impacts from the sale of the credit card portfolio and runoff of Spring EQ, gross loans and leases increased 7%. This growth was driven by increases in residential mortgage (27%), home equity (20%), and C&I (9%), partially offset by a decline in commercial small business leases.
(5) Includes owner-occupied real estate.
| WSFS Bank Center | WSFS Bank Place | 4 | |||||||||||
| 500 Delaware Avenue | 1818 Market Street | |||||||||||||
| Wilmington, DE 19801 | Philadelphia, PA 19103 | |||||||||||||
The following table summarizes client deposit balances and composition at September 30, 2026 compared to June 30, 2026 and September 30, 2025:
| Client Deposits | ||||||||||||||||||||||||||||||||||||||
(Dollars in millions) | September 30, 2026 | June 30, 2026 | September 30, 2025 | |||||||||||||||||||||||||||||||||||
| Noninterest demand | $ | 6,058 | 33 | % | $ | 7,009 | 37 | % | $ | 5,237 | 31 | % | ||||||||||||||||||||||||||
| Interest-bearing demand | 3,075 | 17 | 2,878 | 15 | 2,966 | 17 | ||||||||||||||||||||||||||||||||
| Savings | 1,336 | 7 | 1,352 | 7 | 1,408 | 8 | ||||||||||||||||||||||||||||||||
| Money market | 6,015 | 33 | 5,894 | 31 | 5,536 | 32 | ||||||||||||||||||||||||||||||||
| Total core deposits | 16,484 | 90 | 17,133 | 90 | 15,147 | 88 | ||||||||||||||||||||||||||||||||
| Time deposits | 1,900 | 10 | 1,871 | 10 | 2,079 | 12 | ||||||||||||||||||||||||||||||||
| Total client deposits | $ | 18,384 | 100 | % | $ | 19,004 | 100 | % | $ | 17,226 | 100 | % | ||||||||||||||||||||||||||
Total client deposits decreased $619.5 million, or 3% (not annualized), when compared with June 30, 2026. The reduction in ending deposits reflects the expected outflow of transactional deposits at the end of the prior quarter within WSFS Institutional Services® and Commercial. These declines were partially offset by growth within interest-bearing demand (7%) due to seasonal increases in municipal deposits, money market (2%), and time deposits (2%). Average deposits increased slightly during the quarter, led by Commercial and Small Business.
Total client deposits increased $1.2 billion, or 7% from September 30, 2025, with core deposits increasing 9%. This growth was driven by a 16% increase in noninterest demand deposits, with growth in WSFS Institutional Services®, Commercial, and Consumer. Money market grew 9%, driven by growth across all business lines, while time deposits decreased 9%. Noninterest demand deposits increased to 33% of total client deposits, compared to 31% last year.
The deposit base remains well-diversified, with 56% of quarterly average client deposits coming from outside of our Consumer business. No- and low-cost deposit accounts(6) represented 58% of average total client deposits with a weighted average cost of 31bps for the quarter. The loan-to-deposit ratio(7) was 73% at September 30, 2026, providing capacity to fund ongoing loan growth.
(6) Includes noninterest demand, interest-bearing demand, and savings deposit accounts.
(7) Ratio of net loans and leases to total client deposits.
| WSFS Bank Center | WSFS Bank Place | 5 | |||||||||||
| 500 Delaware Avenue | 1818 Market Street | |||||||||||||
| Wilmington, DE 19801 | Philadelphia, PA 19103 | |||||||||||||
Net Interest Income
| Three Months Ended | ||||||||||||||||||||
(Dollars in millions) | September 30, 2026 | June 30, 2026 | September 30, 2025 | |||||||||||||||||
| Net interest income before purchase accretion | $ | 195.2 | $ | 190.9 | $ | 182.6 | ||||||||||||||
| Purchase accounting accretion | 1.3 | 1.6 | 1.4 | |||||||||||||||||
Net interest income | $ | 196.6 | $ | 192.5 | $ | 184.0 | ||||||||||||||
| Net interest margin before purchase accretion | 3.85 | % | 3.84 | % | 3.88 | % | ||||||||||||||
| Purchase accounting accretion | 0.03 | 0.03 | 0.03 | |||||||||||||||||
Net interest margin | 3.88 | % | 3.87 | % | 3.91 | % | ||||||||||||||
Net interest income increased $4.1 million, or 2% (not annualized), compared to 2Q 2026, primarily driven by higher average loan balances and higher yields on loans and investment securities. The higher yields were partially offset by higher deposit costs as we continued to see elevated deposit pricing competition.
Net interest income increased $12.6 million, or 7%, compared to 3Q 2025, primarily driven by lower deposit costs and higher average loan balances. These increases were partially offset by lower loan yields following Federal Funds Rate cuts in 2025.
Total loan yields were 6.26%, an increase of 2bps when compared to 2Q 2026 and a decrease of 38bps when compared to 3Q 2025. The year-over-year decrease was primarily driven by the impact of the aforementioned interest rate cuts.
Total client deposit costs were 1.33% and interest-bearing deposit costs were 2.05%, increases of 4bps and 5bps, respectively, compared to 2Q 2026. Total client deposit costs decreased 29bps and interest-bearing deposit costs decreased 32bps compared to 3Q 2025. The quarter-over-quarter increase in total client deposit costs reflects elevated deposit cost competition and mix shift. The year-over-year decrease was driven primarily by deposit repricing actions and mix shift.
Net interest margin of 3.88% increased 1bp compared to 2Q 2026, primarily due to higher average loan balances and higher investment yields, partially offset by higher deposit costs. Net interest margin decreased 3bps from 3Q 2025 primarily due to the impact of the 2025 interest rate cuts, partially offset by higher investment yields and favorable balance sheet mix.
| WSFS Bank Center | WSFS Bank Place | 6 | |||||||||||
| 500 Delaware Avenue | 1818 Market Street | |||||||||||||
| Wilmington, DE 19801 | Philadelphia, PA 19103 | |||||||||||||
Asset Quality
| (Dollars in millions) | September 30, 2026 | June 30, 2026 | September 30, 2025 | ||||||||||||||
Problem assets(8) | $ | 530.4 | $ | 472.9 | $ | 629.7 | |||||||||||
| Delinquencies (n) | 92.7 | 95.6 | 104.7 | ||||||||||||||
| Nonperforming assets (n) | 82.7 | 81.0 | 72.6 | ||||||||||||||
| Net (recoveries) charge-offs on loans and leases | (0.6) | 7.1 | 9.9 | ||||||||||||||
| Total net credit costs (q) | 11.5 | 7.1 | 8.4 | ||||||||||||||
| Problem assets to total Tier 1 capital plus ACL on loans and leases | 21.66 | % | 19.48 | % | 26.64 | % | |||||||||||
| Classified assets to total Tier 1 capital plus ACL on loans and leases | 15.81 | 16.96 | 19.20 | ||||||||||||||
| Ratio of nonperforming assets to total assets (n) | 0.37 | 0.36 | 0.35 | ||||||||||||||
| Delinquencies (n) to gross loans (i) | 0.68 | 0.71 | 0.81 | ||||||||||||||
| Ratio of quarterly net charge-offs (recoveries) to average gross loans | (0.02) | 0.21 | 0.30 | ||||||||||||||
| Ratio of allowance for credit losses to total loans and leases (p) | 1.36 | 1.32 | 1.41 | ||||||||||||||
| Ratio of allowance for credit losses to nonaccruing loans (n) | 262 | 260 | 254 | ||||||||||||||
See “Notes”
Overall, most asset quality metrics were stable with delinquencies reaching their lowest level in two years, while year-to-date net charge-offs were 3bps of average gross loans.
Problem assets increased $57.5 million compared to June 30, 2026, driven by several downgrades, primarily within multifamily and construction, partially offset by payoffs. Delinquencies decreased $2.9 million, or 3bps of gross loans, compared to June 30, 2026, driven by commercial payoffs. Problem assets decreased 16% and delinquencies decreased 11% compared to September 30, 2025.
Nonperforming assets (NPAs) increased $1.7 million, or 1bp of total assets, compared to June 30, 2026. The increase in NPAs was primarily driven by a student housing-related loan, partially offset by payoffs of a C&I loan and a CRE office loan.
Net recoveries on loans and leases for the quarter were $0.6 million compared to net charge-offs of $7.1 million in 2Q 2026. The quarter included recoveries of $7.6 million from the payoff of NPAs noted above.
Total net credit costs increased $4.4 million when compared to 2Q 2026, driven by a specific reserve of $8.1 million on the student housing-related loan mentioned above and a $2.0 million write-down of an OREO property, partially offset by the aforementioned recoveries.
The ACL on loans and leases was $185.2 million as of September 30, 2026, an increase of $8.0 million when compared to June 30, 2026, and the ACL coverage increased 4bps to 1.36%.
(8) Problem assets includes all criticized, classified, and nonperforming loans as well as other real estate owned (OREO).
| WSFS Bank Center | WSFS Bank Place | 7 | |||||||||||
| 500 Delaware Avenue | 1818 Market Street | |||||||||||||
| Wilmington, DE 19801 | Philadelphia, PA 19103 | |||||||||||||
Core Fee Revenue(9)
Core fee revenue (noninterest income) of $91.0 million decreased $1.2 million, or 1%, compared to 2Q 2026. We continued to see strong momentum in Wealth and Trust, which had an increase of $2.5 million, or 5%, due to growth across WSFS Institutional Services® and Private Wealth Management. This increase was more than offset by a decline in Capital Markets revenue from lower demand for interest rate swaps due to the rate environment, as well as lower Cash Connect® revenue driven by a decrease in cash volume.
Core fee revenue increased $3.0 million, or 3%, compared to 3Q 2025. The increase was driven by a $12.5 million, or 30%, increase in Wealth and Trust, including 45% growth in WSFS Institutional Services®, driven by both Corporate Trust and Global Capital Markets, 22% growth in BMT of DE, and 14% growth in Private Wealth Management. These increases were partially offset by a $3.6 million decrease in Cash Connect®, primarily due to the impact of interest rate cuts in 2025 and lower ATM volumes, as well as lower gains on the sale of mortgage and SBA loans as we retained more of our originated loans.
For 3Q 2026, our core fee revenue ratio(9) was 31.6% compared to 32.3% in both 2Q 2026 and 3Q 2025. Fee revenue diversification is a strategic priority and we continue to see momentum in our fee businesses, particularly in Wealth and Trust.
(9) As used in this press release, core fee revenue and core fee revenue ratio are non-GAAP financial measures. These non-GAAP financial measures exclude certain pre-tax adjustments and the tax impact of such adjustments. For a reconciliation of these and other non-GAAP financial measures to their most directly comparable GAAP measures, see "Non-GAAP Reconciliation" at the end of the press release.
| WSFS Bank Center | WSFS Bank Place | 8 | |||||||||||
| 500 Delaware Avenue | 1818 Market Street | |||||||||||||
| Wilmington, DE 19801 | Philadelphia, PA 19103 | |||||||||||||
Core Noninterest Expense(10)
Core noninterest expense of $161.5 million decreased $4.8 million, or 3% (not annualized), compared to 2Q 2026. The decrease is primarily due to lower external fraud losses, including recoveries of previously incurred losses, lower medical costs, and lower professional fees which were primarily driven by a recovery of legal expenses. These decreases were partially offset by an increase in occupancy expenses and loan workout and other credit costs due to the write-down of an existing OREO property.
Core noninterest expense decreased $0.7 million, or less than 1%, compared to 3Q 2025. Excluding Cash Connect® external funding costs, which decreased due to lower rates and ATM volume, core noninterest expense increased $2.6 million(10), or 2%. This increase reflects higher salaries and benefits primarily due to merit increases, higher equipment expenses from client transaction costs in Wealth and Trust and continued investment in technology across the franchise, as well as the OREO write-down noted above. These increases were partially offset by lower external fraud losses and professional fees.
Our core efficiency ratio(10) was 56.1% in 3Q 2026, compared to 58.3% in 2Q 2026 and 59.5% in 3Q 2025, reflecting our focus on expense discipline while continuing to invest in the franchise.
Income Taxes
We recorded a $28.3 million income tax provision in 3Q 2026, compared to $26.8 million in 2Q 2026 and $24.4 million in 3Q 2025. The increases in income tax provision compared to 2Q 2026 and 3Q 2025 were primarily due to higher income before taxes.
The effective tax rate was 24.1% in 3Q 2026 compared to 24.1% in 2Q 2026 and 24.2% in 3Q 2025. The decrease in effective tax rate compared to 3Q 2025 is primarily due to increased federal tax credits.
(10) As used in this press release, core noninterest expense, adjusted core noninterest expense, and core efficiency ratio are non-GAAP financial measures. These non-GAAP financial measures exclude certain pre-tax adjustments and the tax impact of such adjustments. For a reconciliation of these and other non-GAAP financial measures to their most directly comparable GAAP measures, see "Non-GAAP Reconciliation" at the end of the press release.
| WSFS Bank Center | WSFS Bank Place | 9 | |||||||||||
| 500 Delaware Avenue | 1818 Market Street | |||||||||||||
| Wilmington, DE 19801 | Philadelphia, PA 19103 | |||||||||||||
Capital Management
Capital ratios remain strong and are all substantially in excess of the “well-capitalized” regulatory benchmarks at September 30, 2026, with a Common Equity Tier 1 capital ratio and Tier 1 capital ratio of 13.74%, Tier 1 leverage ratio of 10.40%, and Total Risk-based capital ratio of 15.47%.
WSFS’ total stockholders’ equity decreased $108.8 million, or 4%, during 3Q 2026. The decrease was primarily due to an increase in accumulated other comprehensive loss of $131.2 million, driven by market-value decreases on available-for-sale investment securities, and capital returns to stockholders of $69.8 million, partially offset by quarterly earnings of $89.3 million.
WSFS’ tangible common equity(11) decreased $104.4 million, or 6%, compared to June 30, 2026, primarily due to the reasons noted above. WSFS’ common equity to assets ratio decreased 19bps to 11.82% and tangible common equity to tangible assets ratio(12) decreased 29bps to 7.82% at September 30, 2026.
At September 30, 2026, book value per share was $51.58, a decrease of $1.39, or 3% (not annualized), from June 30, 2026, and tangible book value per share(11) was $32.67, a decrease of $1.57, or 5% (not annualized), from June 30, 2026, primarily due to the increase in accumulated other comprehensive loss. Book value per share increased $1.91, or 4%, and tangible book value per share increased $0.56, or 2%, compared to 3Q 2025.
During 3Q 2026, WSFS repurchased 748,970 shares of common stock for an aggregate of $59.6 million and paid quarterly cash dividends of $10.2 million. Total capital returns to stockholders through share repurchases and quarterly dividends was $69.8 million. WSFS has 8,451,059 shares, or approximately 17% of outstanding shares as of September 30, 2026, available for repurchase.
The Board of Directors approved a quarterly cash dividend of $0.20 per share of common stock. The dividend will be paid on November 20, 2026 to stockholders of record as of November 6, 2026.
(11) As used in this press release, tangible common equity, tangible common equity to tangible assets ratio, and tangible book value per share are non-GAAP financial measures. These non-GAAP financial measures exclude goodwill and intangible assets and the related tax-effected amortization. For a reconciliation of these and other non-GAAP financial measures to their most directly comparable GAAP measures, see "Non-GAAP Reconciliation" at the end of the press release.
| WSFS Bank Center | WSFS Bank Place | 10 | |||||||||||
| 500 Delaware Avenue | 1818 Market Street | |||||||||||||
| Wilmington, DE 19801 | Philadelphia, PA 19103 | |||||||||||||
Selected Business Segments (included in previous results):
Wealth and Trust
The Wealth and Trust segment provides a broad array of planning and advisory services, investment management, trust services, credit and deposit products to individual, corporate, and institutional Clients.
Selected quarterly performance results and metrics are as follows:
| (Dollars in millions, except where otherwise noted) | September 30, 2026 | June 30, 2026 | September 30, 2025 | |||||||||||||||||||||||||||||
Net interest income(12) | $ | 34.6 | $ | 31.7 | $ | 24.0 | ||||||||||||||||||||||||||
| Provision for (recovery of) credit losses | 1.6 | 1.8 | (0.1) | |||||||||||||||||||||||||||||
Fee revenue(12) | 54.7 | 52.4 | 42.3 | |||||||||||||||||||||||||||||
Noninterest expense(12) | 35.1 | 34.5 | 32.0 | |||||||||||||||||||||||||||||
| Pre-tax income | 52.7 | 47.7 | 34.4 | |||||||||||||||||||||||||||||
| Performance Metrics | ||||||||||||||||||||||||||||||||
WSFS Institutional Services® and BMT of DE fee revenue | $ | 38.2 | $ | 36.3 | $ | 27.6 | ||||||||||||||||||||||||||
| Private Wealth Management fee revenue | 16.6 | 16.1 | 14.8 | |||||||||||||||||||||||||||||
AUM/AUA (in billions)(13) | 109.5 | 101.7 | 93.4 | |||||||||||||||||||||||||||||
Wealth and Trust pre-tax income was $52.7 million, which increased $5.0 million, or 10% (not annualized), compared to 2Q 2026, driven by increases in net interest income of $3.0 million and fee revenue of $2.3 million.
The increase in net interest income was driven by higher yields on interest-earning assets. The increase in fee revenue was driven by higher deal activity in WSFS Institutional Services® and higher AUM-based fees.
Wealth and Trust pre-tax income increased $18.3 million, or 53%, compared to 3Q 2025, driven by increases in fee revenue of $12.4 million and net interest income of $10.6 million. These increases were partially offset by an increase in noninterest expense of $3.0 million.
The increase in fee revenue was driven by growth in WSFS Institutional Services®, Private Wealth Management, and BMT of DE. The increase in net interest income was due to higher noninterest deposit balances in WSFS Institutional Services®. The increase in noninterest expense was primarily due to higher salaries and benefits and client transaction costs, partially offset by a recovery of legal fees.
AUM/AUA increased $7.8 billion to $109.5 billion at the end of 3Q 2026 driven by account growth and market appreciation.
(12) Includes intercompany allocation of income and/or expense.
(13) Represents Assets Under Management and Assets Under Administration, in billions.
| WSFS Bank Center | WSFS Bank Place | 11 | |||||||||||
| 500 Delaware Avenue | 1818 Market Street | |||||||||||||
| Wilmington, DE 19801 | Philadelphia, PA 19103 | |||||||||||||
Cash Connect®
Cash Connect® is a premier provider of ATM vault cash, smart safe and cash logistics services in the United States, servicing non-bank ATMs and smart safes nationwide and supporting ATMs for WSFS Bank Clients.
Selected quarterly financial results and metrics are as follows:
| (Dollars in millions) | September 30, 2026 | June 30, 2026 | September 30, 2025 | |||||||||||||||||||||||||||||
Net revenue(14) | $ | 19.3 | $ | 19.7 | $ | 22.0 | ||||||||||||||||||||||||||
Noninterest expense(15) | 16.3 | 16.8 | 19.6 | |||||||||||||||||||||||||||||
| Pre-tax income | 2.9 | 3.0 | 2.3 | |||||||||||||||||||||||||||||
| Performance Metrics | ||||||||||||||||||||||||||||||||
| Average cash managed | $ | 1,197 | $ | 1,251 | $ | 1,386 | ||||||||||||||||||||||||||
| Number of serviced non-bank ATMs and smart safes | 35,053 | 35,171 | 36,511 | |||||||||||||||||||||||||||||
| Net profit margin | 15.1 | % | 15.0 | % | 10.6 | % | ||||||||||||||||||||||||||
| ROA | 2.26 | % | 2.15 | % | 1.67 | % | ||||||||||||||||||||||||||
Cash Connect® pre-tax income of $2.9 million was down slightly compared to 2Q 2026. Net revenue decreased $0.5 million driven by lower cash volume as well as a decrease in units. Cash Connect® net profit margin of 15.1% and ROA of 2.26% were both up compared to 2Q 2026.
Compared to 3Q 2025, pre-tax income increased $0.6 million, driven by lower cost of non-earning cash and lower noninterest expense. Net revenue decreased $2.8 million driven by lower ATM volume and the impact of lower rates, which were more than offset by lower funding costs in noninterest expense. Net profit margin increased 445bps compared to 3Q 2025, while ROA increased 59bps.
Cash Connect® continues to shift its business mix from traditional non-bank ATMs to higher margin products, such as smart safe units and managed cash solutions. Cash Connect® smart safe units have grown 1% quarter-over-quarter and 5% year-over-year.
(14) Includes net interest income and intercompany allocation of income.
(15) Includes intercompany allocation of expense.
| WSFS Bank Center | WSFS Bank Place | 12 | |||||||||||
| 500 Delaware Avenue | 1818 Market Street | |||||||||||||
| Wilmington, DE 19801 | Philadelphia, PA 19103 | |||||||||||||
Third Quarter 2026 Earnings Release Conference Call
Management will conduct a conference call to review 3Q 2026 results at 1:00 p.m. Eastern Time (ET) on Friday, October 23, 2026. Interested parties may access the conference call live on our Investor Relations website (https://investors.wsfsbank.com). For those who cannot access the live conference call, a replay will be accessible shortly after the event concludes through our Investor Relations website.
About WSFS Financial Corporation
WSFS Financial Corporation is a multibillion-dollar financial services company. Its primary subsidiary, WSFS Bank, is the oldest and largest locally headquartered bank and wealth management franchise in the Greater Philadelphia and Delaware region. As of September 30, 2026, WSFS Financial Corporation had $22.1 billion in assets on its balance sheet and $109.5 billion in assets under management and administration. WSFS operates from 115 offices, 87 of which are banking offices, located in Pennsylvania (59), Delaware (38), New Jersey (14), Florida (2), Nevada (1) and Virginia (1) and provides comprehensive financial services including commercial banking, consumer banking, treasury management, and trust and wealth management. Other subsidiaries or divisions include Arrow Land Transfer, Bryn Mawr Trust Advisors, LLC, Bryn Mawr Trust®, The Bryn Mawr Trust Company of Delaware, Cash Connect®, NewLane Finance®, WSFS Wealth® Management, LLC, WSFS Institutional Services®, and WSFS Mortgage®. Serving the Greater Delaware Valley since 1832, WSFS Bank is one of the ten oldest banks in the United States continuously operating under the same name. For more information, please visit www.wsfsbank.com.
| WSFS Bank Center | WSFS Bank Place | 13 | |||||||||||
| 500 Delaware Avenue | 1818 Market Street | |||||||||||||
| Wilmington, DE 19801 | Philadelphia, PA 19103 | |||||||||||||
Forward-Looking Statements
This press release contains estimates, predictions, opinions, projections and other "forward-looking statements" as that phrase is defined in the Private Securities Litigation Reform Act of 1995. Such statements include, without limitation, references to the Company's predictions or expectations of future business or financial performance as well as its goals and objectives for future operations, financial and business trends, business prospects, and management's outlook or expectations for earnings, revenues, expenses, capital levels, liquidity levels, asset quality or other future financial or business performance, strategies or expectations. The words “believe,” “expect,” “anticipate,” “plan,” “estimate,” “target,” “project” and similar expressions, among others, generally identify forward-looking statements. Such forward-looking statements are based on various assumptions (some of which may be beyond the Company's control) and are subject to risks and uncertainties (which change over time) and other factors which could cause actual results to differ materially from those currently anticipated. Such risks and uncertainties include, but are not limited to, difficult market conditions and unfavorable economic trends in the United States generally and in financial markets, particularly in the markets in which the Company operates and in which its loans are concentrated, including difficult and unfavorable conditions and trends related to housing markets, costs of living, unemployment levels, interest rates, supply chain issues, inflation, and economic growth; possible additional loan losses and impairment of the collectability of loans; losses incurred as a result of external fraud; the Company's level of nonperforming assets and the costs associated with resolving problem loans including litigation and other costs and complying with government-imposed foreclosure moratoriums; the credit risk associated with the substantial amount of commercial real estate, commercial and industrial, and construction and land development loans in the Company's loan portfolio; changes in market interest rates, which may increase funding costs and reduce earning asset yields and thus reduce margin; the impact of changes in interest rates and the credit quality and strength of underlying collateral and the effect of such changes on the market value of the Company's investment securities portfolio, which could impact market confidence in the Company's operations; the extensive federal and state regulation, supervision and examination governing almost every aspect of the Company's operations, and potential expenses associated with complying with such regulations; the Company's ability to comply with applicable capital and liquidity requirements, including its ability to generate liquidity internally or raise capital on favorable terms; the impacts related to or resulting from bank failures and other economic industry volatility, including potential increased regulatory requirements and costs and potential impacts to macroeconomic conditions; changes in trade, monetary and fiscal policies and stimulus programs, laws and regulations and other activities of governments, agencies, and similar organizations, and the uncertainty of the short- and long-term impacts of such changes; any impairments of the Company's goodwill or other intangible assets, or equity investments; the success of the Company's growth plans across our WSFS Bank, Cash Connect® and/or Wealth and Trust segments; the Company's ability to successfully integrate and fully realize the cost savings and other benefits of its acquisitions, manage risks related to business disruption following those acquisitions, and post-acquisition Client acceptance of the Company's products and services and related Client disintermediation; negative perceptions or publicity with respect to the Company generally and, in particular, the Company's Wealth and Trust business; failure of the financial and/or operational controls of the Company's Cash Connect® and/or Wealth and Trust segments; adverse judgments or other resolution of pending and future legal proceedings, and costs incurred in defending such proceedings; the Company's reliance on third parties for certain important functions, including the operation of its core systems, and any failures by such third parties; system failures or cybersecurity incidents or other breaches of the Company's network security, particularly given remote working arrangements; any actual or perceived failure or deficiency in the use of artificial intelligence by the Company or third-party vendors or service providers; the Company's ability to recruit and retain key Associates; the effects of weather, including climate change, and natural disasters such as floods, droughts, wind, tornadoes, wildfires and hurricanes as well as effects from geopolitical instability, armed conflicts, public health crises and man-made disasters including terrorist attacks; the effects of regional or national civil unrest (including any resulting branch or ATM closures or damage); possible changes in the speed of loan prepayments by the Company's Clients and loan origination or sales volumes; possible changes in market valuations and/or the speed of prepayments of mortgage-backed securities (MBS) due to changes in the interest rate environment, and the related acceleration of premium amortization on prepayments in the event that prepayments accelerate; regulatory limits on the Company's ability to receive dividends from its subsidiaries, and pay dividends to its stockholders; any reputation, credit, interest rate, market, operational, litigation, legal, liquidity, regulatory and compliance risk resulting from developments related to any of the risks discussed above; any compounding effects or unexpected interactions of the risks discussed above; and other risks and uncertainties, including those discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2025 under the heading “Risk Factors” and in other documents filed by the Company with the Securities and Exchange Commission from time to time.
The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. The Company disclaims any duty to revise or update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company for any reason, except as specifically required by law. As used in this press release, the terms "WSFS," "the Company," "registrant," "we," "us," and "our" mean WSFS Financial Corporation and its subsidiaries, on a consolidated basis, unless the context indicates otherwise.
| WSFS Bank Center | WSFS Bank Place | 14 | |||||||||||
| 500 Delaware Avenue | 1818 Market Street | |||||||||||||
| Wilmington, DE 19801 | Philadelphia, PA 19103 | |||||||||||||
WSFS FINANCIAL CORPORATION
FINANCIAL HIGHLIGHTS
SUMMARY STATEMENTS OF INCOME (Unaudited)
| Three months ended | Nine months ended | |||||||||||||||||||||||||||||||
| (Dollars in thousands, except per share data) | September 30, 2026 | June 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | |||||||||||||||||||||||||||
| Interest income: | ||||||||||||||||||||||||||||||||
| Interest and fees on loans | $ | 213,684 | $ | 208,206 | $ | 218,250 | $ | 627,133 | $ | 651,007 | ||||||||||||||||||||||
| Interest on mortgage-backed securities | 30,392 | 27,975 | 24,202 | 83,609 | 73,478 | |||||||||||||||||||||||||||
| Interest and dividends on investment securities | 2,137 | 2,157 | 2,180 | 6,465 | 6,552 | |||||||||||||||||||||||||||
| Other interest income | 17,692 | 18,498 | 13,789 | 52,743 | 31,452 | |||||||||||||||||||||||||||
| 263,905 | 256,836 | 258,421 | 769,950 | 762,489 | ||||||||||||||||||||||||||||
| Interest expense: | ||||||||||||||||||||||||||||||||
| Interest on deposits | 62,630 | 59,694 | 71,185 | 181,821 | 212,413 | |||||||||||||||||||||||||||
| Interest on Federal Home Loan Bank advances | 495 | 491 | 586 | 1,425 | 2,473 | |||||||||||||||||||||||||||
| Interest on senior and subordinated debt | 2,775 | 2,765 | 1,089 | 8,306 | 4,252 | |||||||||||||||||||||||||||
| Interest on trust preferred borrowings | 1,390 | 1,370 | 1,524 | 4,115 | 4,565 | |||||||||||||||||||||||||||
| Interest on other borrowings | 21 | 16 | 14 | 53 | 52 | |||||||||||||||||||||||||||
| 67,311 | 64,336 | 74,398 | 195,720 | 223,755 | ||||||||||||||||||||||||||||
| Net interest income | 196,594 | 192,500 | 184,023 | 574,230 | 538,734 | |||||||||||||||||||||||||||
| Provision for credit losses | 8,393 | 5,044 | 6,566 | 11,439 | 36,537 | |||||||||||||||||||||||||||
| Net interest income after provision for credit losses | 188,201 | 187,456 | 177,457 | 562,791 | 502,197 | |||||||||||||||||||||||||||
| Noninterest income: | ||||||||||||||||||||||||||||||||
| Credit/debit card and ATM income | 14,819 | 15,620 | 18,487 | 45,505 | 55,539 | |||||||||||||||||||||||||||
| Investment management and fiduciary revenue | 53,928 | 51,460 | 41,272 | 154,515 | 124,327 | |||||||||||||||||||||||||||
| Deposit service charges | 7,251 | 7,041 | 7,001 | 21,169 | 20,556 | |||||||||||||||||||||||||||
| Mortgage banking activities, net | 971 | 1,323 | 2,091 | 4,655 | 6,232 | |||||||||||||||||||||||||||
| Loan and lease fee income | 1,904 | 1,618 | 2,089 | 5,524 | 4,984 | |||||||||||||||||||||||||||
| Unrealized loss on equity investment, net | — | (4,134) | — | (4,134) | — | |||||||||||||||||||||||||||
| Realized gain on sale of equity investment, net | 146 | 159 | 939 | 305 | 957 | |||||||||||||||||||||||||||
| Other income | 11,959 | 16,881 | 14,592 | 43,522 | 42,782 | |||||||||||||||||||||||||||
| 90,978 | 89,968 | 86,471 | 271,061 | 255,377 | ||||||||||||||||||||||||||||
| Noninterest expense: | ||||||||||||||||||||||||||||||||
| Salaries, benefits and other compensation | 93,817 | 95,767 | 91,661 | 281,471 | 263,283 | |||||||||||||||||||||||||||
| Occupancy expense | 9,380 | 8,309 | 8,498 | 27,828 | 27,220 | |||||||||||||||||||||||||||
| Equipment expense | 14,648 | 13,661 | 12,933 | 41,581 | 39,439 | |||||||||||||||||||||||||||
| Data processing and operations expense | 4,977 | 5,246 | 5,045 | 15,234 | 14,750 | |||||||||||||||||||||||||||
| Professional fees | 3,572 | 4,752 | 4,942 | 12,442 | 15,851 | |||||||||||||||||||||||||||
| Marketing expense | 2,528 | 2,567 | 2,178 | 7,230 | 5,798 | |||||||||||||||||||||||||||
| FDIC expenses | 2,539 | 2,523 | 2,739 | 7,696 | 7,750 | |||||||||||||||||||||||||||
| Loss on debt extinguishment | — | — | 352 | — | 352 | |||||||||||||||||||||||||||
| Loan workout and other credit costs | 3,150 | 2,087 | 1,802 | 7,411 | 3,671 | |||||||||||||||||||||||||||
| Corporate development expense | 62 | 63 | 171 | 182 | (99) | |||||||||||||||||||||||||||
| Restructuring expense | 24 | — | 398 | 2,820 | 658 | |||||||||||||||||||||||||||
| Other operating expenses | 26,862 | 31,325 | 32,337 | 86,729 | 95,521 | |||||||||||||||||||||||||||
| 161,559 | 166,300 | 163,056 | 490,624 | 474,194 | ||||||||||||||||||||||||||||
| Income before taxes | 117,620 | 111,124 | 100,872 | 343,228 | 283,380 | |||||||||||||||||||||||||||
| Income tax provision | 28,309 | 26,795 | 24,405 | 82,743 | 68,825 | |||||||||||||||||||||||||||
| Net income | 89,311 | 84,329 | 76,467 | 260,485 | 214,555 | |||||||||||||||||||||||||||
| Less: Net income (loss) attributable to noncontrolling interest | 15 | (69) | 18 | (36) | (116) | |||||||||||||||||||||||||||
| Net income attributable to WSFS | $ | 89,296 | $ | 84,398 | $ | 76,449 | $ | 260,521 | $ | 214,671 | ||||||||||||||||||||||
| Diluted earnings per share of common stock: | $ | 1.75 | $ | 1.63 | $ | 1.37 | $ | 5.01 | $ | 3.75 | ||||||||||||||||||||||
| Weighted average shares of common stock outstanding for fully diluted EPS | 51,100,141 | 51,935,567 | 55,960,833 | 52,010,835 | 57,171,976 | |||||||||||||||||||||||||||
See “Notes”
| WSFS Bank Center | WSFS Bank Place | 15 | |||||||||||
| 500 Delaware Avenue | 1818 Market Street | |||||||||||||
| Wilmington, DE 19801 | Philadelphia, PA 19103 | |||||||||||||
WSFS FINANCIAL CORPORATION
FINANCIAL HIGHLIGHTS
SUMMARY STATEMENTS OF INCOME (Unaudited) - continued
| Three months ended | Nine months ended | |||||||||||||||||||||||||||||||
| September 30, 2026 | June 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | ||||||||||||||||||||||||||||
| Performance Ratios: | ||||||||||||||||||||||||||||||||
| Return on average assets (a) | 1.58 | % | 1.52 | % | 1.44 | % | 1.57 | % | 1.37 | % | ||||||||||||||||||||||
| Return on average equity (a) | 13.02 | 12.39 | 11.25 | 12.71 | 10.78 | |||||||||||||||||||||||||||
| Return on average tangible common equity (a)(o) | 20.74 | 19.78 | 18.31 | 20.23 | 17.78 | |||||||||||||||||||||||||||
| Net interest margin (a)(b) | 3.88 | 3.87 | 3.91 | 3.86 | 3.89 | |||||||||||||||||||||||||||
| Efficiency ratio (c) | 56.1 | 58.8 | 60.2 | 57.9 | 59.6 | |||||||||||||||||||||||||||
| Noninterest income as a percentage of total net revenue (b) | 31.6 | 31.8 | 31.9 | 32.0 | 32.1 | |||||||||||||||||||||||||||
See “Notes”
| WSFS Bank Center | WSFS Bank Place | 16 | |||||||||||
| 500 Delaware Avenue | 1818 Market Street | |||||||||||||
| Wilmington, DE 19801 | Philadelphia, PA 19103 | |||||||||||||
WSFS FINANCIAL CORPORATION
FINANCIAL HIGHLIGHTS (Continued)
SUMMARY STATEMENTS OF FINANCIAL CONDITION (Unaudited)
| (Dollars in thousands) | September 30, 2026 | June 30, 2026 | September 30, 2025 | |||||||||||||||||
| Assets: | ||||||||||||||||||||
| Cash and due from banks | $ | 1,926,787 | $ | 2,565,643 | $ | 1,564,273 | ||||||||||||||
| Investment securities, available-for-sale | 3,691,117 | 3,841,008 | 3,502,159 | |||||||||||||||||
| Investment securities, held-to-maturity | 925,722 | 943,292 | 979,698 | |||||||||||||||||
| Other investments | 22,553 | 38,231 | 46,691 | |||||||||||||||||
| Net loans and leases (e)(f)(l) | 13,478,388 | 13,323,785 | 12,840,383 | |||||||||||||||||
| Goodwill and intangibles | 958,111 | 962,451 | 973,677 | |||||||||||||||||
| Other assets | 1,109,081 | 979,538 | 933,534 | |||||||||||||||||
| Total assets | $ | 22,111,759 | $ | 22,653,948 | $ | 20,840,415 | ||||||||||||||
| Liabilities and Stockholders’ Equity: | ||||||||||||||||||||
| Noninterest-bearing deposits | $ | 6,057,908 | $ | 7,008,388 | $ | 5,236,956 | ||||||||||||||
| Interest-bearing deposits | 12,326,178 | 11,995,247 | 11,989,262 | |||||||||||||||||
| Total client deposits | 18,384,086 | 19,003,635 | 17,226,218 | |||||||||||||||||
| Other borrowings | 304,369 | 307,017 | 255,099 | |||||||||||||||||
| Other liabilities | 820,970 | 632,222 | 616,317 | |||||||||||||||||
| Total liabilities | 19,509,425 | 19,942,874 | 18,097,634 | |||||||||||||||||
| Stockholders’ equity of WSFS | 2,613,043 | 2,721,798 | 2,753,273 | |||||||||||||||||
| Noncontrolling interest | (10,709) | (10,724) | (10,492) | |||||||||||||||||
| Total stockholders' equity | 2,602,334 | 2,711,074 | 2,742,781 | |||||||||||||||||
| Total liabilities and stockholders' equity | $ | 22,111,759 | $ | 22,653,948 | $ | 20,840,415 | ||||||||||||||
| Capital Ratios: | ||||||||||||||||||||
| Equity to asset ratio | 11.82 | % | 12.01 | % | 13.21 | % | ||||||||||||||
| Tangible common equity to tangible asset ratio (o) | 7.82 | 8.11 | 8.96 | |||||||||||||||||
| Common equity Tier 1 capital (required: 4.5%; well capitalized: 6.5%) (g) | 13.74 | 13.76 | 14.39 | |||||||||||||||||
| Tier 1 leverage (required: 4.00%; well-capitalized: 5.00%) (g) | 10.40 | 10.35 | 11.11 | |||||||||||||||||
| Tier 1 risk-based capital (required: 6.00%; well-capitalized: 8.00%) (g) | 13.74 | 13.76 | 14.39 | |||||||||||||||||
| Total risk-based capital (required: 8.00%; well-capitalized: 10.00%) (g) | 15.47 | 15.47 | 16.19 | |||||||||||||||||
| Asset Quality Indicators: | ||||||||||||||||||||
| Nonperforming assets: | ||||||||||||||||||||
| Nonaccruing loans (s)(n) | $ | 70,810 | $ | 68,271 | $ | 72,148 | ||||||||||||||
| Assets acquired through foreclosure | 11,846 | 12,690 | 439 | |||||||||||||||||
| Total nonperforming assets | $ | 82,656 | $ | 80,961 | $ | 72,587 | ||||||||||||||
| Past due loans (h)(n) | $ | 15,718 | $ | 8,112 | $ | 14,295 | ||||||||||||||
| Troubled loans (t)(n) | 109,074 | 105,736 | 156,803 | |||||||||||||||||
| Allowance for credit losses | 187,882 | 180,035 | 185,504 | |||||||||||||||||
| Ratio of nonperforming assets to total assets (n) | 0.37 | % | 0.36 | % | 0.35 | % | ||||||||||||||
| Ratio of allowance for credit losses to total loans and leases (p) | 1.36 | 1.32 | 1.41 | |||||||||||||||||
| Ratio of allowance for credit losses to nonaccruing loans (n) | 262 | 260 | 254 | |||||||||||||||||
| Ratio of quarterly net (recoveries) charge-offs to average gross loans (a)(e)(i) | (0.02) | 0.21 | 0.30 | |||||||||||||||||
| Ratio of year-to-date net charge-offs to average gross loans (a)(e)(i) | 0.03 | 0.06 | 0.45 | |||||||||||||||||
See “Notes”
| WSFS Bank Center | WSFS Bank Place | 17 | |||||||||||
| 500 Delaware Avenue | 1818 Market Street | |||||||||||||
| Wilmington, DE 19801 | Philadelphia, PA 19103 | |||||||||||||
WSFS FINANCIAL CORPORATION
FINANCIAL HIGHLIGHTS (Continued)
AVERAGE BALANCE SHEET (Unaudited)
| (Dollars in thousands) | Three months ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| September 30, 2026 | June 30, 2026 | September 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Average Balance | Interest & Dividends | Yield/ Rate (a)(b) | Average Balance | Interest & Dividends | Yield/ Rate (a)(b) | Average Balance | Interest & Dividends | Yield/ Rate (a)(b) | ||||||||||||||||||||||||||||||||||||||||||||||||
| Assets: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest-earning assets: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Loans: (e) (j) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial and industrial | $ | 4,944,975 | $ | 76,763 | 6.18 | % | $ | 4,838,475 | $ | 73,772 | 6.13 | % | $ | 4,609,091 | $ | 74,136 | 6.38 | % | ||||||||||||||||||||||||||||||||||||||
| Commercial real estate loans (r) | 4,910,602 | 77,832 | 6.29 | 4,896,752 | 75,795 | 6.21 | 4,831,359 | 82,914 | 6.81 | |||||||||||||||||||||||||||||||||||||||||||||||
| Commercial leases | 586,544 | 12,595 | 8.59 | 581,053 | 12,560 | 8.65 | 620,096 | 13,586 | 8.76 | |||||||||||||||||||||||||||||||||||||||||||||||
| Residential mortgage | 1,276,935 | 18,074 | 5.66 | 1,142,113 | 15,774 | 5.52 | 1,002,442 | 13,711 | 5.47 | |||||||||||||||||||||||||||||||||||||||||||||||
| Consumer loans | 1,810,352 | 28,012 | 6.14 | 1,854,178 | 28,889 | 6.25 | 1,908,700 | 32,548 | 6.77 | |||||||||||||||||||||||||||||||||||||||||||||||
| Loans held for sale | 25,675 | 408 | 6.30 | 78,068 | 1,416 | 7.28 | 75,418 | 1,355 | 7.13 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total loans and leases | 13,555,083 | 213,684 | 6.26 | 13,390,639 | 208,206 | 6.24 | 13,047,106 | 218,250 | 6.64 | |||||||||||||||||||||||||||||||||||||||||||||||
| Mortgage-backed securities (d) | 4,395,451 | 30,392 | 2.77 | 4,286,970 | 27,975 | 2.61 | 4,090,178 | 24,202 | 2.37 | |||||||||||||||||||||||||||||||||||||||||||||||
| Investment securities (d) | 358,714 | 2,137 | 2.69 | 363,491 | 2,157 | 2.71 | 366,450 | 2,180 | 2.66 | |||||||||||||||||||||||||||||||||||||||||||||||
| Other interest-earning assets | 1,844,939 | 17,692 | 3.80 | 1,979,080 | 18,498 | 3.75 | 1,227,761 | 13,789 | 4.46 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total interest-earning assets | $ | 20,154,187 | $ | 263,905 | 5.21 | % | $ | 20,020,180 | $ | 256,836 | 5.16 | % | $ | 18,731,495 | $ | 258,421 | 5.48 | % | ||||||||||||||||||||||||||||||||||||||
| Allowance for credit losses | (185,294) | (183,731) | (190,837) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash and due from banks | 523,758 | 555,255 | 570,022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other noninterest-earning assets | 1,907,015 | 1,881,773 | 1,924,418 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total assets | $ | 22,399,666 | $ | 22,273,477 | $ | 21,035,098 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Liabilities and stockholders’ equity: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest-bearing liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest-bearing deposits: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest-bearing demand | $ | 2,856,067 | $ | 6,970 | 0.97 | % | $ | 2,796,834 | $ | 6,254 | 0.90 | % | $ | 2,825,284 | $ | 7,870 | 1.11 | % | ||||||||||||||||||||||||||||||||||||||
| Savings | 1,368,308 | 1,444 | 0.42 | 1,370,482 | 1,172 | 0.34 | 1,433,399 | 1,723 | 0.48 | |||||||||||||||||||||||||||||||||||||||||||||||
| Money market | 6,007,946 | 39,889 | 2.63 | 5,890,550 | 38,131 | 2.60 | 5,581,010 | 42,378 | 3.01 | |||||||||||||||||||||||||||||||||||||||||||||||
| Time deposits | 1,870,707 | 14,327 | 3.04 | 1,894,349 | 14,137 | 2.99 | 2,077,815 | 19,214 | 3.67 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total interest-bearing client deposits | 12,103,028 | 62,630 | 2.05 | 11,952,215 | 59,694 | 2.00 | 11,917,508 | 71,185 | 2.37 | |||||||||||||||||||||||||||||||||||||||||||||||
| Brokered deposits | 11 | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||
| Total interest-bearing deposits | 12,103,039 | 62,630 | 2.05 | 11,952,215 | 59,694 | 2.00 | 11,917,508 | 71,185 | 2.37 | |||||||||||||||||||||||||||||||||||||||||||||||
| Federal Home Loan Bank advances | 49,457 | 495 | 3.92 | 50,000 | 491 | 3.88 | 50,215 | 586 | 4.63 | |||||||||||||||||||||||||||||||||||||||||||||||
| Trust preferred borrowings | 91,145 | 1,390 | 6.05 | 91,096 | 1,370 | 6.03 | 90,952 | 1,524 | 6.65 | |||||||||||||||||||||||||||||||||||||||||||||||
| Senior and subordinated debt | 197,074 | 2,775 | 5.63 | 196,997 | 2,765 | 5.61 | 148,766 | 1,089 | 2.93 | |||||||||||||||||||||||||||||||||||||||||||||||
| Other borrowed funds | 25,421 | 21 | 0.33 | 22,324 | 16 | 0.29 | 16,504 | 14 | 0.34 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total interest-bearing liabilities | $ | 12,466,136 | $ | 67,311 | 2.14 | % | $ | 12,312,632 | $ | 64,336 | 2.10 | % | $ | 12,223,945 | $ | 74,398 | 2.41 | % | ||||||||||||||||||||||||||||||||||||||
| Noninterest-bearing demand deposits | 6,561,908 | 6,631,914 | 5,493,161 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other noninterest-bearing liabilities | 660,398 | 606,784 | 633,625 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stockholders’ equity of WSFS | 2,721,973 | 2,732,684 | 2,694,883 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Noncontrolling interest | (10,749) | (10,537) | (10,516) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total liabilities and equity | $ | 22,399,666 | $ | 22,273,477 | $ | 21,035,098 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Excess of interest-earning assets over interest-bearing liabilities | $ | 7,688,051 | $ | 7,707,548 | $ | 6,507,550 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Net interest and dividend income | $ | 196,594 | $ | 192,500 | $ | 184,023 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest rate spread | 3.07 | % | 3.06 | % | 3.07 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Net interest margin | 3.88 | % | 3.87 | % | 3.91 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
See “Notes”
| WSFS Bank Center | WSFS Bank Place | 18 | |||||||||||
| 500 Delaware Avenue | 1818 Market Street | |||||||||||||
| Wilmington, DE 19801 | Philadelphia, PA 19103 | |||||||||||||
WSFS FINANCIAL CORPORATION
FINANCIAL HIGHLIGHTS (Continued)
(Unaudited)
| (Dollars in thousands, except per share data) | Three months ended | Nine months ended | ||||||||||||||||||||||||||||||
| Stock Information: | September 30, 2026 | June 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | |||||||||||||||||||||||||||
| Market price of common stock: | ||||||||||||||||||||||||||||||||
| High | $82.94 | $78.39 | $59.67 | $82.94 | $59.67 | |||||||||||||||||||||||||||
| Low | 74.78 | 64.98 | 52.58 | 54.31 | 42.44 | |||||||||||||||||||||||||||
| Close | 75.57 | 76.73 | 53.93 | 75.57 | 53.93 | |||||||||||||||||||||||||||
| Book value per share of common stock | 51.58 | 52.97 | 49.67 | |||||||||||||||||||||||||||||
| Tangible common book value (TBV) per share of common stock (o) | 32.67 | 34.24 | 32.11 | |||||||||||||||||||||||||||||
| Number of shares of common stock outstanding (000s) | 50,660 | 51,388 | 55,427 | |||||||||||||||||||||||||||||
| Other Financial Data: | ||||||||||||||||||||||||||||||||
| One-year repricing gap to total assets (k)(u) | 3.02% | 6.45% | (1.34)% | |||||||||||||||||||||||||||||
| Weighted average duration of the MBS portfolio | 5.6 years | 5.6 years | 6.0 years | |||||||||||||||||||||||||||||
| Unrealized losses on securities available for sale, net of taxes | $(518,520) | $(393,925) | $(400,669) | |||||||||||||||||||||||||||||
| Number of Associates (FTEs) (m) | 2,323 | 2,391 | 2,338 | |||||||||||||||||||||||||||||
| Number of offices (branches, LPO’s, operations centers, etc.) | 115 | 114 | 114 | |||||||||||||||||||||||||||||
Notes:
(a)Annualized.
(b)Computed on a fully tax-equivalent basis.
(c)Noninterest expense divided by (tax-equivalent) net interest income and noninterest income.
(d)Includes securities held-to-maturity (at amortized cost) and securities available-for-sale (at fair value).
(e)Net of unearned income.
(f)Net of allowance for credit losses.
(g)Represents capital ratios of WSFS Financial Corporation and subsidiaries. Capital Ratios for the current quarter are to be considered preliminary until regulatory filings for the quarter are completed.
(h)Accruing loans which are contractually past due 90 days or more as to principal or interest. Balance includes student loans, which are U.S. government guaranteed with little risk of credit loss.
(i)Excludes loans held for sale and reverse mortgage loans.
(j)Nonperforming loans are included in average balance computations.
(k)The difference between projected amounts of interest-sensitive assets and interest-sensitive liabilities repricing within one year divided by total assets, based on a current interest rate scenario.
(l)Includes loans held for sale and reverse mortgages.
(m)Includes seasonal Associates, when applicable.
(n)Includes loans held for sale.
(o)The Company uses non-GAAP (United States Generally Accepted Accounting Principles) financial information in its analysis of the Company’s performance. The Company’s management believes that these non-GAAP financial measures provide a greater understanding of ongoing operations, enhance comparability of results of operations with prior periods and show the effects of significant gains and charges in the periods presented. The Company’s management believes that investors may use these non-GAAP financial measures to analyze the Company’s financial performance without the impact of unusual items or events that may obscure trends in the Company’s underlying performance. This non-GAAP data should be considered in addition to results prepared in accordance with GAAP, and is not a substitute for, or superior to, GAAP results. For a reconciliation of these and other non-GAAP financial measures to their most directly comparable GAAP measures, see "Non-GAAP Reconciliation" at the end of the press release.
(p)Reflects allowance for credit losses on loans and leases over the amortized cost of the total portfolio.
(q)Includes provision for credit losses, loan workout expenses, OREO expenses and other credit costs.
(r)Includes commercial mortgage and commercial construction loans.
(s)Includes nonaccruing troubled loans.
(t)Represents loans modified in the form of principal forgiveness, interest rate reduction, an other-than-insignificant payment delay, or a term extension to borrowers experiencing financial difficulty.
(u)Includes the impact of cash flow hedges. Prior period amounts have been updated to conform to current presentation.
| WSFS Bank Center | WSFS Bank Place | 19 | |||||||||||
| 500 Delaware Avenue | 1818 Market Street | |||||||||||||
| Wilmington, DE 19801 | Philadelphia, PA 19103 | |||||||||||||
WSFS FINANCIAL CORPORATION
FINANCIAL HIGHLIGHTS (Continued)
(Dollars in thousands, except per share data)
(Unaudited)
| Non-GAAP Reconciliation (o): | Three months ended | Nine months ended | ||||||||||||||||||||||||||||||
| September 30, 2026 | June 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | ||||||||||||||||||||||||||||
| Net interest income (GAAP) | $ | 196,594 | $ | 192,500 | $ | 184,023 | $ | 574,230 | $ | 538,734 | ||||||||||||||||||||||
| Core net interest income (non-GAAP) | 196,594 | 192,500 | 184,023 | 574,230 | 538,734 | |||||||||||||||||||||||||||
| Noninterest income (GAAP) | 90,978 | 89,968 | 86,471 | 271,061 | 255,377 | |||||||||||||||||||||||||||
| Plus: Unrealized loss on equity investments, net | — | (4,134) | — | (4,134) | — | |||||||||||||||||||||||||||
| Less: Realized gain on sale of equity investment, net | 146 | 159 | 939 | 305 | 957 | |||||||||||||||||||||||||||
| Plus: Visa derivative valuation adjustment | — | — | (2,429) | — | (2,429) | |||||||||||||||||||||||||||
| (Plus)/less: (Loss) gain on sale of credit card portfolio | (140) | 1,746 | — | 1,605 | — | |||||||||||||||||||||||||||
| Core fee revenue (non-GAAP) | $ | 90,972 | $ | 92,197 | $ | 87,961 | $ | 273,285 | $ | 256,849 | ||||||||||||||||||||||
| Core net revenue (non-GAAP) | $ | 287,566 | $ | 284,697 | $ | 271,984 | $ | 847,515 | $ | 795,583 | ||||||||||||||||||||||
| Core net revenue (non-GAAP)(tax-equivalent) | $ | 288,087 | $ | 285,231 | $ | 272,482 | $ | 849,100 | $ | 797,023 | ||||||||||||||||||||||
| Noninterest expense (GAAP) | $ | 161,559 | $ | 166,300 | $ | 163,056 | $ | 490,624 | $ | 474,194 | ||||||||||||||||||||||
| Less: Loss on debt extinguishment | — | — | 352 | — | 352 | |||||||||||||||||||||||||||
| Less/(plus): Corporate development expense | 62 | 63 | 171 | 182 | (99) | |||||||||||||||||||||||||||
| Less: Restructuring expense | 24 | — | 398 | 2,820 | 658 | |||||||||||||||||||||||||||
| Core noninterest expense (non-GAAP) | $ | 161,473 | $ | 166,237 | $ | 162,135 | $ | 487,622 | $ | 473,283 | ||||||||||||||||||||||
| Core efficiency ratio (non-GAAP) | 56.1 | % | 58.3 | % | 59.5 | % | 57.4 | % | 59.4 | % | ||||||||||||||||||||||
| Core fee revenue ratio (non-GAAP) (b) | 31.6 | % | 32.3 | % | 32.3 | % | 32.2 | % | 32.2 | % | ||||||||||||||||||||||
| End of period | ||||||||||||||||||||||||||||||||
| September 30, 2026 | June 30, 2026 | September 30, 2025 | ||||||||||||||||||||||||||||||
| Total assets (GAAP) | $ | 22,111,759 | $ | 22,653,948 | $ | 20,840,415 | ||||||||||||||||||||||||||
| Less: Goodwill and other intangible assets | 958,111 | 962,451 | 973,677 | |||||||||||||||||||||||||||||
| Total tangible assets (non-GAAP) | $ | 21,153,648 | $ | 21,691,497 | $ | 19,866,738 | ||||||||||||||||||||||||||
| Total stockholders’ equity of WSFS (GAAP) | $ | 2,613,043 | $ | 2,721,798 | $ | 2,753,273 | ||||||||||||||||||||||||||
| Less: Goodwill and other intangible assets | 958,111 | 962,451 | 973,677 | |||||||||||||||||||||||||||||
| Total tangible common equity (non-GAAP) | $ | 1,654,932 | $ | 1,759,347 | $ | 1,779,596 | ||||||||||||||||||||||||||
| Tangible common book value (TBV) per share: | ||||||||||||||||||||||||||||||||
| Book value per share (GAAP) | $ | 51.58 | $ | 52.97 | $ | 49.67 | ||||||||||||||||||||||||||
| Tangible common book value per share (non-GAAP) | 32.67 | 34.24 | 32.11 | |||||||||||||||||||||||||||||
| Tangible common equity to tangible assets: | ||||||||||||||||||||||||||||||||
| Equity to asset ratio (GAAP) | 11.82 | % | 12.01 | % | 13.21 | % | ||||||||||||||||||||||||||
| Tangible common equity to tangible assets ratio (non-GAAP) | 7.82 | 8.11 | 8.96 | |||||||||||||||||||||||||||||
| WSFS Bank Center | WSFS Bank Place | 20 | |||||||||||
| 500 Delaware Avenue | 1818 Market Street | |||||||||||||
| Wilmington, DE 19801 | Philadelphia, PA 19103 | |||||||||||||
| Non-GAAP Reconciliation - continued (o): | Three months ended | Nine months ended | ||||||||||||||||||||||||||||||
| September 30, 2026 | June 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | ||||||||||||||||||||||||||||
| GAAP net income attributable to WSFS | $ | 89,296 | $ | 84,398 | $ | 76,449 | $ | 260,521 | $ | 214,671 | ||||||||||||||||||||||
| Plus: Pre-tax adjustments: Realized/unrealized gain (loss) on equity investments, net, Visa derivative adjustment, (loss) gain on sale of credit card portfolio, loss on debt extinguishment, corporate development and restructuring expense | 80 | 2,292 | 2,411 | 5,226 | 2,383 | |||||||||||||||||||||||||||
| Less: Tax impact of pre-tax adjustments | (57) | (539) | (589) | (1,235) | (616) | |||||||||||||||||||||||||||
| Adjusted net income (non-GAAP) attributable to WSFS | $ | 89,319 | $ | 86,151 | $ | 78,271 | $ | 264,512 | $ | 216,438 | ||||||||||||||||||||||
| GAAP return on average assets (ROA) | 1.58 | % | 1.52 | % | 1.44 | % | 1.57 | % | 1.37 | % | ||||||||||||||||||||||
| Plus: Pre-tax adjustments: Realized/unrealized gain (loss) on equity investments, net, Visa derivative adjustment, (loss) gain on sale of credit card portfolio, loss on debt extinguishment, corporate development and restructuring expense | — | 0.04 | 0.05 | 0.03 | 0.02 | |||||||||||||||||||||||||||
| Less: Tax impact of pre-tax adjustments | — | (0.01) | (0.01) | (0.01) | — | |||||||||||||||||||||||||||
| Core ROA (non-GAAP) | 1.58 | % | 1.55 | % | 1.48 | % | 1.59 | % | 1.39 | % | ||||||||||||||||||||||
| Earnings per share (diluted) (GAAP) | $ | 1.75 | $ | 1.63 | $ | 1.37 | $ | 5.01 | $ | 3.75 | ||||||||||||||||||||||
| Plus: Pre-tax adjustments: Realized/unrealized gain (loss) on equity investments, net, Visa derivative adjustment, (loss) gain on sale of credit card portfolio, loss on debt extinguishment, corporate development and restructuring expense | — | 0.04 | 0.04 | 0.10 | 0.04 | |||||||||||||||||||||||||||
| Less: Tax impact of pre-tax adjustments | — | (0.01) | (0.01) | (0.02) | — | |||||||||||||||||||||||||||
| Core earnings per share (non-GAAP) | $ | 1.75 | $ | 1.66 | $ | 1.40 | $ | 5.09 | $ | 3.79 | ||||||||||||||||||||||
| Calculation of return on average tangible common equity: | ||||||||||||||||||||||||||||||||
| GAAP net income attributable to WSFS | $ | 89,296 | $ | 84,398 | $ | 76,449 | $ | 260,521 | $ | 214,671 | ||||||||||||||||||||||
| Plus: Tax effected amortization of intangible assets | 2,745 | 2,766 | 2,864 | 8,289 | 8,756 | |||||||||||||||||||||||||||
| Net tangible income (non-GAAP) | $ | 92,041 | $ | 87,164 | $ | 79,313 | $ | 268,810 | $ | 223,427 | ||||||||||||||||||||||
| Average stockholders’ equity of WSFS | $ | 2,721,973 | $ | 2,732,684 | $ | 2,694,883 | $ | 2,741,236 | $ | 2,661,709 | ||||||||||||||||||||||
| Less: Average goodwill and intangible assets | 961,111 | 964,974 | 976,270 | 964,853 | 981,809 | |||||||||||||||||||||||||||
| Net average tangible common equity | $ | 1,760,862 | $ | 1,767,710 | $ | 1,718,613 | $ | 1,776,383 | $ | 1,679,900 | ||||||||||||||||||||||
| Return on average tangible common equity (non-GAAP) | 20.74 | % | 19.78 | % | 18.31 | % | 20.23 | % | 17.78 | % | ||||||||||||||||||||||
| Calculation of PPNR: | ||||||||||||||||||||||||||||||||
| Net income (GAAP) | $ | 89,311 | $ | 84,329 | $ | 76,467 | $ | 260,485 | $ | 214,555 | ||||||||||||||||||||||
| Plus: Income tax provision | 28,309 | 26,795 | 24,405 | 82,743 | 68,825 | |||||||||||||||||||||||||||
| Plus: Provision for credit losses | 8,393 | 5,044 | 6,566 | 11,439 | 36,537 | |||||||||||||||||||||||||||
| PPNR (non-GAAP) | $ | 126,013 | $ | 116,168 | $ | 107,438 | $ | 354,667 | $ | 319,917 | ||||||||||||||||||||||
| WSFS Bank Center | WSFS Bank Place | 21 | |||||||||||
| 500 Delaware Avenue | 1818 Market Street | |||||||||||||
| Wilmington, DE 19801 | Philadelphia, PA 19103 | |||||||||||||
| Non-GAAP Reconciliation - continued (o): | Three months ended | |||||||||||||||||||
| September 30, 2026 | June 30, 2026 | September 30, 2025 | ||||||||||||||||||
| Calculation of adjusted core noninterest expense: | ||||||||||||||||||||
| Core noninterest expense (non-GAAP) | $ | 161,473 | $ | 166,237 | $ | 162,135 | ||||||||||||||
Less: Cash Connect® external funding costs | 7,805 | 7,985 | 11,045 | |||||||||||||||||
| Adjusted core noninterest expense (non-GAAP) | $ | 153,668 | $ | 158,252 | $ | 151,090 | ||||||||||||||
1 WSFS Financial Corporation 3Q 2026 Earnings Release Supplement October 2026 Exhibit 99.2
2 Forward Looking Statements & Non-GAAP Disclaimers Trade names, trademarks and service marks of other companies appearing in this presentation are the property of their respective holders. All segment fee revenue figures in this presentation exclude intercompany allocations. . Forward Looking Statements: This presentation contains estimates, predictions, opinions, projections and other "forward-looking statements" as that phrase is defined in the Private Securities Litigation Reform Act of 1995. Such statements include, without limitation, references to WSFS Financial Corporation’s (“the Company”) predictions or expectations of future business or financial performance as well as its goals and objectives for future operations, financial and business trends, business prospects, and management's outlook or expectations for earnings, revenues, expenses, capital levels, liquidity levels, asset quality or other future financial or business performance, strategies or expectations. The words “believe,” “expect,” “anticipate,” “plan,” “estimate,” “target,” “project” and similar expressions, among others, generally identify forward-looking statements. Such forward-looking statements are based on various assumptions (some of which may be beyond the Company's control) and are subject to significant risks and uncertainties (which change over time) and other factors, including, but not limited to, difficult market conditions and unfavorable economic trends in the United States generally and in financial markets, particularly in the markets in which the Company operates and in which its loans are concentrated, including difficult and unfavorable conditions and trends related to housing markets, costs of living, unemployment levels, interest rates, supply chain issues, inflation, trade, monetary and fiscal policies, interest rates, supply chain issues, inflation, economic growth, the uncertain effects of geopolitical instability, armed conflicts, public health crises, inflation, interest rates and actions taken in response thereto on our business, results of operations, capital and liquidity, which could cause actual results to differ materially from those currently anticipated. Such risks and uncertainties are discussed in detail in the Company’s Form 10-K for the year ended December 31, 2025, Form 10-Q for the quarter ended March 31, 2026, Form 10-Q for the quarter ended June 30, 2026, and other documents filed by the Company with the Securities and Exchange Commission from time to time. We caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date on which they are made, and the Company disclaims any duty to revise or update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company for any reason, except as specifically required by law. As used in this presentation, the terms "WSFS", "the Company", "registrant", "we", "us", and "our" mean WSFS Financial Corporation and its subsidiaries, on a consolidated basis, unless the context indicates otherwise. Non-GAAP Financial Measures: This presentation contains financial measures determined by methods other than in accordance with accounting principles generally accepted in the United States (“GAAP”). The Company’s management believes that these non-GAAP financial measures provide a greater understanding of ongoing operations, enhance comparability of results of operations with prior periods and show the effects of significant gains and charges in the periods presented. The Company’s management believes these non-GAAP financial measures are useful measures for management and investors to analyze the Company’s financial performance without the impact of unusual items or events that may obscure trends in the Company’s underlying performance. You should not rely on these non-GAAP financial measures as a substitute for, or as superior to, GAAP results. For a reconciliation of these non-GAAP financial measures to their most directly comparable GAAP measures, see the Appendix.
3 Reported Core1 $ in millions (except per share amounts) 3Q26 QoQ Δ YoY Δ 3Q26 QoQ Δ YoY Δ EPS $1.75 +7.4% +27.7% $1.75 +5.4% +25.0% ROA 1.58% +6bps +14bps 1.58% +3bps +10bps Net Income2 $89.3 +5.8% +16.9% $89.3 +3.6% +14.0% PPNR1 $126.0 +8.4% +17.3% $126.1 +6.4% +14.8% ROTCE1 20.74% +96bps +243bps 20.74% +56bps +201bps NIM4 3.88% +1bp -3bps 3.88% +1bp -3bps Fee Revenue $ $91.0 +1.1% +5.2% $91.0 -1.3% +3.4% Fee Revenue %4 31.6% -21bps -33bps 31.6% -74bps -70bps Efficiency Ratio 56.1% -268bps -409bps 56.1% -223bps -345bps ACL Ratio5 1.36% +4bps -5bps 1.36% +4bps -5bps CET1 13.74% -2bps -65bps 13.74% -2bps -65bps TBVPS1 $32.67 -4.6% 1.7% $32.67 -4.6% 1.7% Financial Highlights 1 These are non-GAAP financial measures and should be considered along with results prepared in accordance with GAAP, and not as a substitute for GAAP results. See Reconciliation of Non-GAAP for the most directly comparable GAAP measures 2 This constitutes net income attributable to WSFS; excludes net income attributable to noncontrolling interest 3 Represents shares outstanding as of December 31, 2025 4 Tax-equivalent 5 Reflects ACL on loans and leases over the amortized cost of the total portfolio • Core ROA of 1.58% (up 10bps YoY) and core EPS of $1.75 (up 25% YoY), driven by 14% core net income growth and 15% core PPNR growth YoY1 • Loans grew 1% QoQ (5% annualized), primarily due to increases in Home Lending and C&I loans • Wealth and Trust fees grew 5% QoQ and 30% YoY, continuing to produce consistent double-digit growth YoY • Returned $240.4mm of capital to shareholders YTD, including $210.8mm from share repurchases (5.6% of outstanding shares)3
4 41% 18% Est. ~35% 0% 15% 30% 45% 60% 3Q26 Sept'26 Exit Dec'26 Exit Net Interest Margin Trends 1 Average total loan yield excludes purchase accounting accretion (PAA) 2 Deposit betas are interest-bearing only, based on cumulative client deposit costs for the down-cycle (ended September 30, 2026) and the up-cycle (starting September 1, 2026); Dec’26 exit includes a 25bps rate hike in December • Client deposit costs up 4bps QoQ, reflecting elevated cost competition and mix changes • Exit Sept’26: NIM of 3.89% and total deposit cost of 1.37% 1.62% 1.45% 1.33% 1.29% 1.33% 1.66% 1.51% 1.41% 1.36% 1.40% 6.60% 6.36% 6.22% 6.19% 6.22% 2.0% 3.2% 4.4% 5.6% 6.8% 8.0% 0.8% 1.3% 1.8% 2.3% 2.8% 3.3% 3Q25 4Q25 1Q26 2Q26 3Q26 Lo an Y ie ld (% ) Cl ie nt D ep os it Co st (% ) Client Deposit Cost Total Funding Cost Total Loans Ex PAA Yield 3.91% 3.87% 3.88% 3.50% 3.60% 3.70% 3.80% 3.90% 4.00% 3Q25 2Q26 3Q26 4.25%Fed Funds %4 4.00% 3 Betas are the average of the last month in a respective quarter unless otherwise stated 4 Fed funds is based on the exit rate and the upper bound of the range; includes assumption of Dec’26 rate hike of 25bps 3.75% Average Deposit Cost and Loan Yield1 Net Interest Margin Deposit Betas2,3 NIM of 3.88%, up 1bp quarter-over-quarter, driven by loan growth and securities reinvestment 4.00%Fed Funds %4 4.25%4.00% Down-cycle Up-cycle
5 ($ in millions) Sep 2026 QoQ $ QoQ % YoY % 3Q 2026 QoQ % YoY % C & I loans2 $5,014 $71 1.4% 9.3% $4,944 1.5% 6.1% Commercial mortgage (CRE) 3,885 1 0.0% 0.8% 3,862 (0.9%) (0.9%) Construction loans 1,005 2 0.2% 0.1% 1,049 5.0% 12.6% Commercial leases 593 9 1.5% (3.9%) 587 0.7% (5.3%) Total commercial loans $10,497 $83 0.8% 4.3% $10,442 0.9% 3.3% Residential mortgage (HFS/HFI) 1,353 82 6.5% 27.4% 1,303 10.0% 27.1% Consumer loans - WSFS 1,113 50 4.7% 12.4% 1,084 0.9% 11.2% Consumer loans - Partnership 700 (52) (6.9%) (22.8%) 726 (6.9%) (22.3%) Total gross loans $13,663 $163 1.2% 4.9% $13,555 1.2% 3.9% Ending Average Loans - QoQ and YoY Loan Portfolio Highlights 5% annualized loan growth led by Home Lending, C&I, and Leases 1 Includes new loans, existing new funding, in-process, HFS, and net line activity. Excludes reclasses, purchase accounting marks/unearned changes, and Commercial leases 2 C&I loans includes owner-occupied real estate 3 WSFS-originated home equity portfolios are included in Consumer loans - WSFS Commercial: • Continued momentum in C&I; C&I line utilization of ~36% • 90-day weighted average pipeline of ~$280mm Consumer: • Home Lending (residential mortgage and home equity3) grew 6% QoQ • Consumer line utilization of 42%, consistent with prior quarter Commercial Fundings and Line Activity ($mm)1 $170 $116 $201 $121 $263 $268 $243 $167 $70 $33 $66 $85 $126 $110 $95 $116 $125 $98 $141 $177 $165 $112 $129 $138 -$25 $48 -$2 -$58 $58 $81 $12 $8 $340 $295 $406 $325 $612 $571 $479 $429 -$100 $0 $100 $200 $300 $400 $500 $600 $700 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 C&I CRE Construction Net Line Activity
6 Deposit Highlights • Average client deposits up slightly QoQ driven by Commercial • Reduction in ending deposits reflects the expected outflow of transactional deposits in WSFS Institutional Services® and Commercial at the end of the prior quarter • Noninterest demand represents 35% of total average client deposits • 10% YoY increase in average core deposits with 20% growth in noninterest demand deposits • 56% of average client deposits are coming from outside of Consumer 7% year-over-year increase in ending and average client deposits Consumer 44% Commercial 24% Small Business 10% Trust 15% Wealth 6% Other 1% Average Client Deposits By Business Line 12% 11% 11% 10% 10% 40% 40% 40% 39% 40% 16% 16% 15% 15% 15% 32% 33% 34% 36% 35% 0% 20% 40% 60% 80% 100% 3Q25 4Q25 1Q26 2Q26 3Q26 Noninterest IB Demand Savings/MM Time Average Total Client Deposit Mix ($ in millions) Sep 2026 QoQ $ QoQ % YoY % 3Q 2026 QoQ % YoY % Noninterest demand $6,058 ($951) (13.6%) 15.7% $6,562 (1.1%) 19.5% Interest demand 3,075 197 6.8% 3.7% 2,856 2.1% 1.1% Savings 1,336 (16) (1.2%) (5.1%) 1,368 (0.2%) (4.5%) Money market 6,015 121 2.1% 8.7% 6,008 2.0% 7.7% Total core deposits $16,484 ($649) (3.8%) 8.8% $16,794 0.6% 9.5% Time deposits 1,900 29 1.5% (8.6%) 1,871 (1.2%) (10.0%) Total client deposits $18,384 ($620) (3.3%) 6.7% $18,665 0.4% 7.2% Ending Average Deposits by Product - QoQ and YoY
7 $21 $18 $15 $25 $22 $22 $42 $52 $54 $88 $92 $91 $0 $10 $20 $30 $40 $50 $60 $70 $80 $90 $100 3Q25 2Q26 3Q26 Co re F ee R ev en ue ($ m m ) Banking Cash Connect Wealth and Trust Core Fee Revenue 31.6% Core Fee Revenue ratio1 with continued double-digit year-over-year growth in Wealth and Trust 1 These are non-GAAP financial measures and should be considered along with results prepared in accordance with GAAP, and not as a substitute for GAAP results. See Reconciliation of Non-GAAP for the most directly comparable GAAP measures 2 1H 2026 Asset-Backed Alert; activity based on number of deals in the first half of the year and market share based on dollars of issuance during the respective timeframes ® Core fee revenue1 down 1% QoQ and up 3% YoY Wealth and Trust (+30% YoY) Bryn Mawr Trust® 30% BMT of DE 18% WSFS Institutional Services® 52% Corporate Trust up 45% YoY due to higher custody and paying agent fees as we continue to gain market share Ranked third most active U.S. ABS & MBS trustee with 14% market share in 1H26, up from 12% FY252 Global Capital Markets up 48% YoY due to higher assignment fees from increased deal activity Private Wealth Management up 14% YoY due to increased assets under management (AUM) Bryn Mawr Trust of Delaware up 22% YoY due to continued account growth
8 9.97% 9.03% 11.83% 7.82% 3.77% 1.37% 3.64% 1.25% 13.74% 10.40% 15.47% 9.07% 0% 4% 8% 12% 16% CET1 Leverage TRBC TCE Effective AOCI Well-capitalized Reported -$11.79 $32.67 ($20) ($10) $0 $10 $20 $30 $40 3Q22 1Q23 3Q23 1Q24 3Q24 1Q25 3Q25 1Q26 3Q26 TBV2 and AOCI per Share AOCI/share TBV/share Capital All capital ratios remain significantly above “well-capitalized” even when considering Effective AOCI 3Q26 Capital Ratios including Effective AOCI Impact1,2 1 Effective AOCI ($728.4mm) includes unrealized losses on AFS and unrecognized fair value of HTM as of September 30, 2026; reported AOCI of ($597.5mm) 2 This is a non-GAAP financial measure and should be considered along with results prepared in accordance with GAAP, and not as a substitute for GAAP results. See Reconciliation of Non-GAAP for the most directly comparable GAAP measure 2 • 2% YoY growth in tangible book value (TBV) per share • TBV per share of $32.67 includes a negative impact of $11.79 per share related to Reported AOCI1 • Effective AOCI represents the impact of a full liquidation of the investment portfolio • TCE of 9.07% when considering Effective AOCI 2
9 ~92% of YTD net income returned to shareholders; 17% of outstanding shares remain in authorization3 $35.8 $37.2 $29.6 $95.4 $287.5 $210.8 $131.2 $324.7 $240.4 $0.0 $50.0 $100.0 $150.0 $200.0 $250.0 $300.0 $350.0 2024 2025 YTD26 M ill io ns Dividend Repurchases 13.81% 13.92% 13.74% 0% 2% 4% 6% 8% 10% 12% 14% 16% YE24 YE25 3Q26 Capital Return Framework Repurchased 1.5% of outstanding shares in 3Q261 and 5.6% of outstanding shares year-to-date2 1 Represents shares outstanding as of June 30, 2026 2 Represents shares outstanding as of December 31, 2025 CET1 medium-term target of ~12% 3 Represents shares outstanding as of September 30, 2026 Total Capital Returned to ShareholdersCET1 Trend
10 $87 $55 $67 $60 $59 $45 $54 $35 $86 $26 $26 $36 $17 $15 $15 $15 $11 $12 $158 $105 $168 $101 $96 $93 1.22% 0.81% 1.27% 0.76% 0.71% 0.68% 0.00% 0.30% 0.60% 0.90% 1.20% $0 $50 $100 $150 $200 $250 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 M ill io ns Non-accruing Accruing Govt. Guaranteed Ed. % of Gross Loans Asset Quality Metrics $683 $630 $536 $504 $473 $530 5.19% 4.84% 4.02% 3.78% 3.50% 3.88% 0.0% 1.2% 2.4% 3.6% 4.8% 6.0% $300 $400 $500 $600 $700 $800 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 M ill io ns Problem Assets % of Gross Loans $4 $9 $14 -$4 $6 -$1 $1 $1 $1 $1 $1 $1 $5 -$1 $10 $10 $15 -$3 $7 -$1 0.30% 0.30% 0.46% -0.11% 0.21% -0.02% -2.00% -1.50% -1.00% -0.50% 0.00% 0.50% 1.00% -$10 -$3 $4 $11 $18 $25 $32 $39 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 M ill io ns Commercial Consumer Upstart % of Avg. Gross Loans $106 $73 $72 $88 $81 $83 0.51% 0.35% 0.34% 0.40% 0.36% 0.37% 0.0% 0.2% 0.3% 0.5% 0.6% $0 $25 $50 $75 $100 $125 $150 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 M ill io ns Nonperforming Assets % of Total Assets 1 Excludes impacts from accounts receivable 2 Includes fully government guaranteed and 98% government guaranteed student loans 3 Average gross loans net of unearned income, excluding loans held-for-sale 3 2 Problem Assets Nonperforming Assets (NPA) Delinquencies (DLQ) Net Charge-offs (NCO)1 Non-Depository Financial Institutions (NDFI) account for 3.2% of gross loans with no NPAs or charge-offs, and minimal (<1%) delinquencies 3
11 $160 $170 $180 $190 $200 6/30/2026 New Originations Specific Reserve / NCO / Other Payoffs / Paydowns 9/30/2026 ACL Ratio 3Q 2026 ACL ($mm) $185 1 Reflects ACL on loans and leases over the amortized cost of the total portfolio 2 This is a non-GAAP financial measure and should be considered along with results prepared in accordance with GAAP, and not as a substitute for GAAP results. See Reconciliation of Non-GAAP for the most directly comparable GAAP measures Loan & Leases ACL Overview ACL and Coverage Ratio by Segment 3Q 2026 ACL Commentary 1.36% • ACL coverage ratio1 of 1.36%; 1.44% including estimated remaining credit mark on acquired loan portfolios2 • Coverage ratio up 4bps QoQ driven by a specific reserve on a student housing-related loan (+6bps) • FY GDP forecast of 2.2% in 2026 and 2.5% in 20273 • FY unemployment forecast of 4.2% in 2026 and 20273 1.32% 1.33% 1.42% 1.36% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 3Q22 3Q23 3Q24 3Q25 3Q26 ACL % By Portfolio and Total1 Commercial Consumer and Leasing Total ACL% 3 Source: Oxford Economics as of September 2026 4 Hotel loan balances are included in the C&I and Construction segments 5 Commercial excludes Leasing $177 $11 $7 ($10) 5
12 Investment Portfolio High-quality investment portfolio providing consistent cash flows and borrowing capacity 1 Investment portfolio value includes market value AFS and book value of HTM 2 Yield for the last month in the respective quarter of the MBS portfolio 3 This is a non-GAAP financial measure and should be considered along with results prepared in accordance with GAAP, and not as a substitute for GAAP results. See Reconciliation of Non-GAAP for the most directly comparable GAAP measure • Forecasting P&I cash flows of $1.1bn+ over the next 24 months • Reinvestment will support earnings stability and balance sheet flexibility • Reinvestment yields are expected to be accretive to portfolio yield and NIM, while limiting extension/prepayment risk Investments Investment Portfolio1 $4.62bn % of Total Assets1 21% Portfolio Duration 5.6yrs Portfolio Yield2 2.80% Agency MBS/Notes % >95% Reported AOCI ($597.5mm) Effective AOCI3,4 ($728.4mm) AFS Agency MBS Agency CMOs GNMA MBS/CMOs Agency Debent. HTM Agency MBS Munis $3.69bn $0.93bn ($475) ($446) ($454) ($466) ($597) ($0) ($150) ($300) ($450) ($600) ($750) 3Q25 4Q25 1Q26 2Q26 3Q26 M ill io ns Reported AOCI Trend 4 Effective AOCI ($728.4mm) includes unrealized losses on AFS and unrecognized fair value of HTM as of September 30, 2026; assumes all securities, including HTM, are sold at market prices Note: As of September 30, 2026, unless otherwise stated
13 Non-GAAP Financial Information Appendix:
14 Non-GAAP Information This presentation contains financial measures determined by methods other than in accordance with accounting principles generally accepted in the United States (GAAP). This presentation may include the following non-GAAP measures: • Adjusted Net Income (non-GAAP) attributable to WSFS is a non-GAAP measure that adjusts net income determined in accordance with GAAP to exclude the realized/unrealized gain (loss) on equity investments, net, Visa derivative valuation adjustment, (loss) gain on sale of credit card portfolio, loss on debt extinguishment, and corporate development and restructuring expense; • Core noninterest income, also called Core Fee Revenue, is a non-GAAP measure that adjusts noninterest income as determined in accordance with GAAP to exclude the impact of realized/unrealized gain (loss) on equity investments, net, Visa derivative valuation adjustment, and (loss) gain on sale of credit card portfolio; • Core fee revenue ratio (%) is a non-GAAP measure that divides (i) Core Fee Revenue by (ii) Core Net Revenue (tax-equivalent); • Core net interest income is a non-GAAP measure that adjusts net interest income to exclude the impact of certain dividends; • Core Earnings Per Share (EPS) is a non-GAAP measure that divides (i) Adjusted Net Income (non-GAAP) attributable to WSFS by (ii) weighted average shares of common stock outstanding for the applicable period; • Core Net Revenue is a non-GAAP measure that adds (i) core net interest income and (ii) Core Fee Revenue; • Core Net Revenue (tax-equivalent) is a non-GAAP measure that adjusts core net revenue to include the impact of tax-equivalent income; • Core noninterest expense is a non-GAAP measure that adjusts noninterest expense as determined in accordance with GAAP to exclude loss on debt extinguishment and corporate development and restructuring expenses; • Core Efficiency Ratio is a non-GAAP measure that divides (i) core noninterest expense by (ii) the sum of core interest income and Core Fee Revenue; • Core Return on Average Assets (ROA) is a non-GAAP measure that divides (i) Adjusted Net Income (non-GAAP) attributable to WSFS by (ii) average assets for the applicable period; • Effective AOCI is a non-GAAP measure that adds (i) unrealized losses on AFS securities, (ii) unrealized holding losses on securities transferred from AFS to HTM, and (iii) unrecognized fair value losses on HTM securities; • Tangible Common Equity (TCE) is a non-GAAP measure and is defined as total stockholders’ equity of WSFS less goodwill and other intangible assets; • TCE Ratio is a non-GAAP measure that divides (i) TCE by (ii) tangible assets; • Tangible assets is a non-GAAP measure and is defined as total assets less goodwill and other intangible assets; • Adjusted tangible assets is a non-GAAP measure that adjusts tangible assets to include the impact of the liquidation of our investment securities portfolio; • Return on average tangible common equity (ROTCE) is a non-GAAP measure and is defined as net income allocable to common stockholders divided by tangible common equity; • Core ROTCE is a non-GAAP measure that is defined as adjusted net income (non-GAAP) attributable to WSFS divided by tangible common equity; • Net tangible income is a non-GAAP measure that adjusts net income determined in accordance with GAAP to exclude the impact of the amortization of intangible assets; • Core net tangible income is a non-GAAP measure that adjusts adjusted net income (non-GAAP) attributable to WSFS to exclude the impact of the amortization of intangible assets; • Tangible common book value per share (TBV) is a non-GAAP financial measure that divides (i) TCE by (ii) shares outstanding; • Tangible common equity including effective AOCI is a non-GAAP measure that adjusts tangible common equity to include effective AOCI; • Pre-provision Net Revenue (PPNR) is a non-GAAP measure that adjusts net income determined in accordance with GAAP to exclude the impacts of (i) income tax provision and (ii) provision for credit losses; • Core PPNR is a non-GAAP measure that adjusts PPNR to exclude the impact of realized/unrealized gain (loss) on equity investments, net, Visa derivative valuation adjustment, (loss) gain on sale of credit card portfolio, loss on debt extinguishment, and corporate development and restructuring expenses; • Core Return on Average Equity (ROE) is a non-GAAP measure that divides (i) Adjusted Net Income (non-GAAP) attributable to WSFS by (ii) average stockholders’ equity for the applicable period; • Adjusted risk weighted assets is a non-GAAP measure that adjusts the Corp’s risk weighted assets determined in accordance with GAAP to include the impact of the liquidation of our investment securities portfolio; • Adjusted average assets is a non-GAAP measure that adjusts the Corp’s average assets determined in accordance with GAAP to include the impact of the liquidation of our investment securities portfolio; • Adjusted tangible assets is a non-GAAP measure that adjusts tangible assets to include the impact of the liquidation of our investment securities portfolio; • Adjusted total risk-based capital is a non-GAAP measure that adjusts total risk-based capital determined in accordance with GAAP to include effective AOCI; • Adjusted total risk-based capital ratio is a non-GAAP measure that divides (i) adjusted total risk-based capital by (ii) adjusted risk weighted assets; • Adjusted common equity Tier 1 capital is a non-GAAP measure that adjusts common equity Tier 1 capital determined in accordance with GAAP to include effective AOCI; • Adjusted common equity Tier 1 capital ratio is a non-GAAP measure that divides (i) adjusted common equity Tier 1 capital by (ii) adjusted risk weighted assets; • Adjusted Tier 1 capital is a non-GAAP measure that adjusts Tier 1 capital determined in accordance with GAAP to include effective AOCI; • Adjusted Tier 1 leverage ratio is a non-GAAP measure that divides (i) adjusted Tier 1 capital by (ii) adjusted average assets; and • Coverage ratio including the remaining credit marks is a non-GAAP measure that adjusts the coverage ratio to include the impact of the remaining credit marks on the acquired loan portfolios.
15 Appendix: Non-GAAP Financial Information Three Months Ended (dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 Net interest income (GAAP) $ 196,594 $ 192,500 $ 184,023 Core net interest income (non-GAAP) $ 196,594 $ 192,500 $ 184,023 Noninterest income (GAAP) $ 90,978 $ 89,968 $ 86,471 Plus: Unrealized loss on equity investments, net — (4,134) — Less: Realized gain on sale of equity investment, net 146 159 939 (Plus)/less: (Loss) gain on sale of credit card portfolio (140) 1,746 — (Plus)/less: Visa derivative valuation adjustment — — (2,429) Core fee revenue (non-GAAP) $ 90,972 $ 92,197 $ 87,961 Core net revenue (non-GAAP) $ 287,566 $ 284,697 $ 271,984 Core net revenue (non-GAAP) (tax-equivalent) $ 288,087 $ 285,231 $ 272,482 Noninterest expense (GAAP) $ 161,559 $ 166,300 $ 163,056 Less: Loss on debt extinguishment — — 352 Less: Corporate development expense 62 63 171 Less: Restructuring expense 24 — 398 Core noninterest expense (non-GAAP) $ 161,473 $ 166,237 $ 162,135 Core efficiency ratio (non-GAAP) 56.1 % 58.3 % 59.5 % Core fee revenue ratio (non-GAAP)(tax-equivalent) 31.6 % 32.3 % 32.3 % Three Months Ended (dollars in thousands, except per share data) September 30, 2026 June 30, 2026 September 30, 2025 Calculation of tangible common equity ratio: Total Assets (GAAP) $ 22,111,759 $ 22,653,948 $ 20,840,415 Less: Goodwill and other intangible assets 958,111 962,451 973,677 Total tangible assets (non-GAAP) $ 21,153,648 $ 21,691,497 $ 19,866,738 Total stockholders’ equity of WSFS (GAAP) $ 2,613,043 $ 2,721,798 $ 2,753,273 Less: Goodwill and other intangible assets 958,111 962,451 973,677 Total tangible common equity (non-GAAP) $ 1,654,932 $ 1,759,347 $ 1,779,596 Equity to asset ratio (GAAP) 11.82 % 12.01 % 13.21 % Tangible common equity to tangible assets ratio (non-GAAP) 7.82 % 8.11 % 8.96 % Three Months Ended (dollars in thousands) September 30, 2026 Calculation of effective AOCI: Unrealized losses on AFS securities $ 518,520 Unrealized losses on securities transferred from AFS to HTM 54,610 Unrecognized fair value on HTM securities 155,244 Effective AOCI (non-GAAP) $ 728,374 Calculation of coverage ratio including the estimated remaining credit marks: Coverage ratio 1.36 % Plus: Estimated remaining credit marks on the acquired loan portfolios 0.08 Coverage ratio including the estimated remaining credit marks (non-GAAP) 1.44 %
16 Appendix: Non-GAAP Financial Information Three Months Ended (dollars in thousands, except per share data) September 30, 2026 June 30, 2026 September 30, 2025 GAAP net income attributable to WSFS $ 89,296 $ 84,398 $ 76,449 Plus: Pre-tax adjustments1 80 2,292 2,411 Less: Tax impact of pre-tax adjustments (57) (539) (589) Adjusted net income (non-GAAP) attributable to WSFS $ 89,319 $ 86,151 $ 78,271 Net income (GAAP) $ 89,311 $ 84,329 $ 76,467 Plus: Income tax provision 28,309 26,795 24,405 Plus: Provision for credit losses 8,393 5,044 6,566 PPNR (Non-GAAP) 126,013 116,168 107,438 Plus: Pre-tax adjustments1 80 2,292 2,411 Core PPNR (Non-GAAP) $ 126,093 $ 118,460 $ 109,849 GAAP return on average assets (ROA) 1.58 % 1.52 % 1.44 % Plus: Pre-tax adjustments1 — 0.04 0.05 Less: Tax impact of pre-tax adjustments — (0.01) (0.01) Core ROA (non-GAAP) 1.58 % 1.55 % 1.48 % Earnings per share (diluted)(GAAP) $ 1.75 $ 1.63 $ 1.37 Plus: Pre-tax adjustments1 — 0.04 0.04 Less: Tax impact of pre-tax adjustments — (0.01) (0.01) Core earnings per share (non-GAAP) $ 1.75 $ 1.66 $ 1.40 1 Pre-tax adjustments include realized/unrealized gain (loss) on equity investments, net, Visa derivative valuation adjustment, (loss) gain on sale of credit card portfolio, loss on debt extinguishment, and corporate development and restructuring expense
17 Appendix: Non-GAAP Financial Information Three Months Ended (dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 Calculation of return on average tangible common equity: GAAP net income attributable to WSFS $ 89,296 $ 84,398 $ 76,449 Plus: Tax effected amortization of intangible assets 2,745 2,766 2,864 Net tangible income (non-GAAP) $ 92,041 $ 87,164 $ 79,313 Average stockholders' equity of WSFS $ 2,721,973 $ 2,732,684 $ 2,694,883 Less: Average goodwill and intangible assets 961,111 964,974 976,270 Net average tangible common equity $ 1,760,862 $ 1,767,710 $ 1,718,613 Return on average equity (GAAP) 13.02 % 12.39 % 11.25 % Return on average tangible common equity (non-GAAP) 20.74 % 19.78 % 18.31 % Calculation of core return on average tangible common equity: Adjusted net income (non-GAAP) attributable to WSFS $ 89,319 $ 86,151 $ 78,271 Plus: Tax effected amortization of intangible assets 2,745 2,766 2,864 Core net tangible income (non-GAAP) $ 92,064 $ 88,917 $ 81,135 Net average tangible common equity $ 1,760,862 $ 1,767,710 $ 1,718,613 Core return on average equity (non-GAAP) 13.02 % 12.65 % 11.52 % Core return on average tangible common equity (non-GAAP) 20.74 % 20.18 % 18.73 %
18 Appendix: Non-GAAP Financial Information (dollars in thousands, except per share data) September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 Calculation of tangible common book value per share: Total stockholders’ equity of WSFS (GAAP) $ 2,613,043 $ 2,721,798 $ 2,724,493 $ 2,738,545 $ 2,753,273 $ 2,682,728 $ 2,671,614 $ 2,589,752 $ 2,678,264 Less: Goodwill and other intangible assets 958,111 962,451 966,388 969,903 973,677 977,546 983,882 988,160 992,163 Total tangible common equity (non-GAAP) 1,654,932 1,759,347 1,758,105 1,768,642 1,779,596 1,705,182 1,687,732 1,601,592 1,686,101 Shares outstanding (000s) 50,660 51,388 52,149 53,410 55,427 56,235 57,693 58,657 59,033 Tangible common book value per share (non-GAAP) $ 32.67 $ 34.24 $ 33.71 $ 33.11 $ 32.11 $ 30.32 $ 29.25 $ 27.30 $ 28.56 (dollars in thousands, except per share data) June 30, 2024 March 31, 2024 December 31, 2023 September 30, 2023 June 30, 2023 March 31, 2023 December 31, 2022 September 30, 2022 Calculation of tangible common book value per share: Total stockholders’ equity of WSFS (GAAP) $ 2,489,580 $ 2,473,481 $ 2,477,636 $ 2,242,795 $ 2,314,659 $ 2,306,362 $ 2,205,113 $ 2,103,593 Less: Goodwill and other intangible assets 996,181 1,000,344 1,004,560 1,008,472 1,004,278 1,008,250 1,012,232 1,016,413 Total tangible common equity (non-GAAP) 1,493,399 1,473,137 1,473,076 1,234,323 1,310,381 1,298,112 1,192,881 1,087,180 Shares outstanding (000s) 59,261 60,084 60,538 60,728 61,093 61,387 61,612 61,949 Tangible common book value per share (non-GAAP) $ 25.20 $ 24.52 $ 24.33 $ 20.33 $ 21.45 $ 21.15 $ 19.36 $ 17.55
19 Appendix: Non-GAAP Financial Information As of September 30, (dollars in thousands) 2026 Calculation of adjusted common equity Tier 1 capital: Common equity tier 1 capital (GAAP) $ 2,275,625 Less: Effective AOCI (non-GAAP) 728,374 Adjusted common equity tier 1 capital (non-GAAP) $ 1,547,251 Risk Weighted Assets (GAAP) $ 16,565,453 Less: Debt securities 1,049,553 Adjusted Risk Weighted Assets (non-GAAP) $ 15,515,900 Common equity Tier 1 capital (GAAP) 13.74 % Adjusted common equity Tier 1 capital ratio (non-GAAP) 9.97 % Calculation of adjusted Tier 1 leverage: Tier 1 capital (GAAP) $ 2,275,625 Less: Effective AOCI (non-GAAP) 728,374 Adjusted Tier 1 capital (non-GAAP) $ 1,547,251 Average assets (Corp) (GAAP) $ 21,890,565 Less: Average debt securities 4,754,164 Adjusted average assets (non-GAAP) $ 17,136,401 Tier 1 leverage (GAAP) 10.40 % Adjusted Tier 1 leverage (non-GAAP) 9.03 % As of September 30, (dollars in thousands) 2026 Calculation of adjusted total risk-based capital: Total risk-based capital (GAAP) $ 2,563,449 Less: Effective AOCI (non-GAAP) 728,374 Adjusted total risk-based capital (non-GAAP) $ 1,835,075 Risk Weighted Assets (GAAP) $ 16,565,453 Adjusted Risk Weighted Assets (non-GAAP) 15,515,900 Total risk-based capital (GAAP) 15.47 % Adjusted total risk-based capital ratio (non-GAAP) 11.83 % Calculation of adjusted tangible common equity to tangible assets ratio (non-GAAP): Total tangible assets (non-GAAP) $ 21,153,648 Less: Investment securities, AFS & HTM 4,616,839 Total adjusted tangible assets (non-GAAP) $ 16,536,809 Total tangible common equity (non-GAAP) $ 1,654,932 Less: Unrecognized fair value on HTM securities 155,244 Total adjusted tangible common equity (non-GAAP) $ 1,499,688 Tangible common equity to tangible assets ratio (non-GAAP) 7.82 % Tangible common equity to tangible assets ratio including effective AOCI (non-GAAP) 9.07 %