<\/p>\n
WSFS Reports 1Q 2025 EPS of $1.12, ROA of 1.29% and NIM of 3.88%;
\n<\/b>
Board Approved 13% Dividend Increase and
\n<\/b>
Additional 10% Share Repurchase Authorization<\/b><\/p>\n
| \n (Dollars in millions, except per share data)<\/i><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 1Q 2025<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n4Q 2024\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1Q 2024\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| \n \nNet interest income\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 175.2<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n178.2\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n175.3\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| \n \nFee revenue\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 80.9<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n83.3\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n75.9\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| \n \nTotal net revenue\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 256.1<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n261.5\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n251.1\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| \n \nProvision for credit losses\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 17.4<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n8.0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n15.1\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| \n \nNoninterest expense\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 151.8<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n169.1\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n149.1\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| \n \nNet income attributable to WSFS\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 65.9<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n64.2\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n65.8\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| \n \nPre-provision net revenue (PPNR)(1)<\/sup><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 104.3<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n92.4\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n102.1\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nEarnings per share (EPS) (diluted)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 1.12<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1.09\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1.09\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nReturn on average assets (ROA) (a)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 1.29<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1.21\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1.28\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nReturn on average equity (ROE) (a)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 10.1<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n9.7\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n10.7\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nFee revenue as % of total net revenue\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 31.5<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n31.8\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n30.2\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nEfficiency ratio\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 59.2<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n64.6\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n59.3\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nSee \u201cNotes\u201d\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nGAAP results for the quarterly periods shown included 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 earnings release.\n<\/p>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 1Q 2025<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n4Q 2024\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1Q 2024\n<\/p>\n<\/td>\n<\/tr>\n (Dollars in millions, except per share data)<\/i><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Total (pre-tax)<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Per share (after-tax)<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \nTotal (pre-tax)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \nPer share (after-tax)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \nTotal (pre-tax)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \nPer share (after-tax)\n<\/p>\n<\/td>\n<\/tr>\n \nFee revenue\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n0.1\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(0.6\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(0.01\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \nNoninterest expense\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 0.3<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2.1\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.03\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1.5\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.02\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nIncome tax impacts\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (0.1<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(0.4\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(0.01\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(0.5\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(0.01\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n (1)<\/sup> 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 comparable GAAP measures, see “Non-GAAP Reconciliation” at the end of the press release.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n CEO Commentary<\/b><\/p>\n \nRodger Levenson, Chairman, CEO and President, said, “Despite uncertain economic conditions, WSFS continued to perform well in the first quarter with a core EPS(2)<\/sup> of $1.13 and a core ROA(2)<\/sup> of 1.29%.\n<\/p>\n \n“These results were driven by the net interest margin of 3.88%, which expanded 8bps from the previous quarter. Loans and deposits were essentially flat, reflecting expected seasonal activity and overall caution from Clients.\n<\/p>\n \n“Core fee revenue(2)<\/sup> grew 6% from the first quarter of 2024, driven by continued strong performance in the Wealth and Trust segment which grew 19% year-over-year.\n<\/p>\n \n“Credit metrics remained stable, excluding the impact of a charge-off related to an existing non-performing office-related credit. In light of the recent slowing of economic activity, we continue to closely monitor asset quality.\n<\/p>\n \n“As part of our normal capital planning process, the Board approved a 13% increase in the quarterly dividend to $0.17 per share, along with an additional share repurchase authorization of 10% of our outstanding shares as of quarter-end. These actions allow us to enhance shareholder value via the return of excess capital with increased flexibility of buybacks, depending on business performance and economic conditions.”\n<\/p>\n (2) <\/sup>As used in this press release, core EPS, core ROA, and core fee revenue 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 comparable GAAP measures, see “Non-GAAP Reconciliation” at the end of the press release.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Highlights for 1Q 2025:<\/b><\/p>\n (3) <\/sup>As used in this press release, core PPNR is a non-GAAP financial measures. This 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 comparable GAAP measures, see “Non-GAAP Reconciliation” at the end of the press release.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n First Quarter 2025 Discussion of Financial Results<\/b><\/p>\n Balance Sheet<\/b><\/p>\n \nThe following table summarizes loan and lease balances and composition at March 31, 2025 compared to December 31, 2024 and March 31, 2024:\n<\/p>\n Loans and Leases<\/b><\/p>\n<\/td>\n (Dollars in millions)<\/i><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n March 31, 2025<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \nDecember 31, 2024\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \nMarch 31, 2024\n<\/p>\n<\/td>\n<\/tr>\n \nCommercial & industrial (C&I)(4)<\/sup><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 4,651<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 36<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n4,652\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n36\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n4,489\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n35\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n<\/tr>\n \nCommercial mortgage\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 3,982<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 31<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n4,031\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n31\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3,877\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n30\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nConstruction\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 869<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 6<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n832\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n6\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,056\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n8\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nCommercial small business leases\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 636<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 5<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n648\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n5\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n634\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n5\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nTotal commercial loans and leases\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 10,138<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 78<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n10,163\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n78\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n10,056\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n78\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nResidential mortgage\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 992<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 8<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n992\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n8\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n888\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n7\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nConsumer\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2,033<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 16<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,086\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n16\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,066\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n17\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nGross loans and leases\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 13,163<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 102<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n13,241\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n102\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n13,010\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n102\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n<\/tr>\n \nACL\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (188<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (2<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(195\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(2\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(193\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(2\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \nNet loans and leases\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 12,975<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 100<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n13,046\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n100\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n12,817\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n100\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nAt March 31, 2025, WSFS\u2019 gross loan and lease portfolio decreased $78.4 million, or 1% (2% annualized), when compared with December 31, 2024. Excluding the continued runoff of the Spring EQ and Upstart portfolios, gross loans and leases decreased $12.8 million, or less than 1% annualized, as some borrowers delayed actions given uncertainty in the macroeconomic and policy environment. The decline was primarily driven by a decrease of $48.6 million in commercial mortgage, partially offset by a $36.6 million increase in construction loans.\n<\/p>\n \nGross loans and leases at March 31, 2025 increased $153.2 million, or 1%, when compared with March 31, 2024. Total commercial loans and leases grew $82.5 million, or 1%, driven by increases of $162.3 million (4%) in C&I and $105.2 million (3%) in commercial mortgage. These increases were partially offset by a $187.7 million decrease in construction loans, partially driven by migration into commercial mortgages and C&I loans (including owner-occupied real estate). Residential mortgage increased $104.0 million, or 12%, due to the retention of certain loans based on favorable yields and relationship opportunities, and consumer loans decreased $33.3 million, or 2%, primarily due to runoff in the Upstart portfolio.\n<\/p>\n (4)<\/sup> Includes owner-occupied real estate.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nThe following table summarizes client deposit balances and composition at March 31, 2025 compared to December 31, 2024 and March 31, 2024:\n<\/p>\n Client Deposits<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n (<\/i>Dollars in millions)<\/i><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n March 31, 2025<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \nDecember 31, 2024\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \nMarch 31, 2024\n<\/p>\n<\/td>\n<\/tr>\n \nNoninterest demand\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 4,947<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 29<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n4,988\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n29\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n4,653\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n29\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n<\/tr>\n \nInterest-bearing demand\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2,882<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 17<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,973\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n17\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,856\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n18\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nSavings\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 1,463<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 9<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,466\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n9\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,577\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n10\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nMoney market\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 5,487<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 33<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n5,472\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n32\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n5,206\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n31\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nTotal core deposits\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 14,779<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 88<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n14,899\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n87\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n14,292\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n88\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nTime deposits\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2,100<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 12<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,131\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n13\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,895\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n12\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nTotal client deposits\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 16,879<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 100<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n17,030\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n100\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n16,187\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n100\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nTotal client deposits decreased by $150.7 million, or 1% (4% annualized), when compared with December 31, 2024, primarily due to seasonality and expected outflows in Trust deposits, partially offset by growth from Consumer Banking. Noninterest demand deposits comprised 29% of client deposits, consistent with recent levels and reflecting the strength of our core deposit base.\n<\/p>\n \nTotal client deposits increased by $691.9 million, or 4%, from March 31, 2024, driven by broad-based growth across the Consumer, Commercial, and Trust businesses, with growth in noninterest demand, money market, and time deposits. Noninterest demand deposits increased 6% compared to March 31, 2024.\n<\/p>\n \nCore deposits were 88% of total client deposits, with a weighted average cost of 138bps for the quarter. No- and low-cost checking accounts represented 46% of total client deposits with a weighted average cost of 38bps for the quarter.\n<\/p>\n \nThe deposit base remains well-diversified, with 50% of quarterly average client deposits coming from the Commercial, Small Business, and Wealth and Trust business lines. The loan-to-deposit ratio(5)<\/sup> was 77% at March 31, 2025, providing continued capacity to fund future loan growth.\n<\/p>\n (5)<\/sup> Ratio of net loans and leases to total client deposits.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Net Interest Income<\/b><\/p>\n \n\u00a0\n<\/p>\n<\/td>\n \nThree Months Ending\n<\/p>\n<\/td>\n<\/tr>\n (<\/i>Dollars in millions)<\/i><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n March 31, 2025<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \nDecember 31, 2024\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \nMarch 31, 2024\n<\/p>\n<\/td>\n<\/tr>\n \nNet interest income before purchase accretion\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 173.1<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n175.8\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n173.1\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nPurchase accounting accretion\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2.1<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2.4\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2.2\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nNet interest income\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 175.2<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n178.2\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n175.3\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nNet interest margin before purchase accretion\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 3.83<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3.75\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3.79\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n<\/tr>\n \nPurchase accounting accretion\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 0.05<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.05\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.05\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nNet interest margin\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 3.88<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3.80\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3.84\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nNet interest income decreased $3.0 million, or 2% (not annualized), compared to 4Q 2024, driven by lower loan yields due to the full quarter impact of the Fed rate cuts in late 2024, typical impacts from day-count in the first quarter, and lower loan volume. The decrease was partially offset by lower deposit and wholesale funding costs. Net interest income decreased $0.1 million compared to 1Q 2024.\n<\/p>\n \nTotal loan yields were 6.67%, a decrease of 13bps when compared to 4Q 2024, due to the rate cuts in late 2024. Total client deposit costs were 1.71%, a decrease of 12bps, while interest-bearing deposit costs were 2.43%, a decrease of 22bps compared to the prior quarter. The deposit cost decreases reflect deposit repricing actions taken in response to the Fed rate cuts.\n<\/p>\n \nNet interest margin of 3.88%, an increase of 8bps compared to 4Q 2024 and 4bps from 1Q 2024, reflects the aforementioned deposit repricing actions and a reduction in wholesale funding, partially offset by the lower loan yields mentioned above.\n<\/p>\n Asset Quality<\/b><\/p>\n (Dollars in millions)<\/i><\/p>\n<\/td>\n March 31, 2025<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \nDecember 31, 2024\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \nMarch 31, 2024\n<\/p>\n<\/td>\n<\/tr>\n \nProblem assets(6)<\/sup><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 683.7<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n645.0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n573.2\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nDelinquencies\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 147.7<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n121.8\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n104.5\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nNonperforming assets\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 116.9<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n127.4\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n67.2\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nNet charge-offs\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 24.6<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n10.2\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n8.6\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nTotal net credit costs (r)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 17.6<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n8.7\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n16.2\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nProblem assets to total Tier 1 capital plus ACL\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 27.83<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n26.21\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n23.42\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n<\/tr>\n \nClassified assets to total Tier 1 capital plus ACL\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 20.80<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n21.40\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n17.56\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nRatio of nonperforming assets to total assets\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 0.57<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.61\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.33\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nDelinquencies to gross loans (n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 1.13<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.92\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.81\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nRatio of quarterly net charge-offs to average gross loans\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 0.76<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.31\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.27\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nRatio of allowance for credit losses to total loans and leases (q)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 1.43<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1.48\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1.48\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nRatio of allowance for credit losses to nonaccruing loans\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 168<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n160\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n292\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nSee \u201cNotes\u201d\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nProblem assets to total Tier 1 capital plus ACL ratio was 27.83%, an increase of 162bps compared to December 31, 2024, primarily driven by downgrades to two multifamily relationships which are well-collateralized and remain current.\n<\/p>\n \nDelinquencies of $147.7 million, or 113bps of gross loans, increased $25.9 million, or 21bps, compared to December 31, 2024, primarily due to increased delinquencies in the C&I portfolio.\n<\/p>\n \nNet charge-offs increased $14.3 million to $24.6 million, or 76bps (annualized) of average gross loans during the quarter, driven by a $15.9 million charge-off of an existing nonperforming C&I loan to a fund that is invested in office properties. Excluding this loan, net charge-offs would have been 27bps of average gross loans during the quarter, reflecting continued decreases in charge-offs related to NewLane and Upstart.\n<\/p>\n \nNonperforming assets decreased $10.5 million, or 4bps of total assets, compared to December 31, 2024, primarily due to the charge-off mentioned above, partially offset by the migration of a land development loan.\n<\/p>\n \nTotal net credit costs were $17.6 million in the quarter, an increase of $8.9 million, compared to $8.7 million in 4Q 2024, primarily driven by the aforementioned charge-off.\n<\/p>\n \nThe ACL was $188.1 million as of March 31, 2025, a decrease of $7.2 million from December 31, 2024, which includes an $8.4 million release related to the charge-off mentioned above and $2.8 million from the continued runoff of the Upstart portfolio. The ACL coverage ratio was 1.43%, a decrease of 5bps compared to December 31, 2024. Excluding the impacts of the C&I charge-off and Upstart runoff, the ACL coverage ratio would have increased 3bps, primarily due to economic forecast changes.\n<\/p>\n (6)<\/sup> Problem assets includes all criticized, classified, and nonperforming loans as well as other real estate owned (OREO).\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Core Fee Revenue(7)<\/sup><\/b><\/p>\n \nCore fee revenue (noninterest income) of $80.9 million decreased $2.3 million, or 3% (not annualized), compared to $83.2 million from 4Q 2024. The decrease was driven by declines of $0.8 million in Cash Connect\u00ae<\/sup> fees primarily due to lower bailment volume and the lower interest rate environment (which was more than offset in noninterest expense), $0.6 million in Private Wealth Management due to lower AUM-based fees, and $0.7 million in other bank fees. The decrease was partially offset by modest increases in Institutional Services and WSFS Mortgage fees.\n<\/p>\n \nCore fee revenue increased $4.4 million, or 6%, compared to 1Q 2024. The increase was primarily driven by a 19% increase in Wealth and Trust, with double-digit increases in Institutional Services and BMT of DE. The increase was partially offset by a decline in Cash Connect\u00ae<\/sup> and Capital Markets fees. The decline in Cash Connect\u00ae <\/sup>was primarily due to the impact of interest rates and lower managed service volumes, partially offset by higher bailment volumes.\n<\/p>\n \nFor 1Q 2025, our core fee revenue ratio(7)<\/sup> was 31.5% compared to 31.8% in 4Q 2024 and 30.3% in 1Q 2024. Fee revenue is a competitive differentiator providing a well-diversified source of revenue with further growth opportunities expected.\n<\/p>\n (7)<\/sup> As used in this press release, core fee revenue and core fee revenue ratio is a non-GAAP financial measure. This non-GAAP financial measure excludes certain pre-tax adjustments and the tax impact of such adjustments. For a reconciliation of this and other non-GAAP financial measures to their comparable GAAP measures, see “Non-GAAP Reconciliation” at the end of the press release.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Core Noninterest Expense(8)<\/sup><\/b><\/p>\n \nCore noninterest expense of $151.5 million decreased $15.5 million, or 9% (not annualized), compared to 4Q 2024. Cash Connect\u00ae <\/sup>accounted for $5.3 million of the decrease, including $2.8 million from external funding costs due to seasonally lower volumes and lower rates, as well as $1.9 million from nonrecurring items related to a Client termination in the fourth quarter. In addition, salaries and benefits declined by $5.0 million, reflecting lower incentive payments made for 2024 and lower medical costs. Professional fees decreased from an elevated level in the fourth quarter by $2.4 million due to lower legal, compliance, and risk-related fees.\n<\/p>\n \nCore noninterest expense increased $3.9 million, or 3%, compared to 1Q 2024. The increase was largely driven by $6.7 million in higher salaries and benefits as a result of talent additions in key business areas, performance-based increases, and higher medical costs. This increase was partially offset by a $2.6 million decrease in Cash Connect\u00ae<\/sup> external funding costs.\n<\/p>\n \nOur core efficiency ratio(8)<\/sup> was 59.0% in 1Q 2025, compared to 63.8% in 4Q 2024 and 58.6% in 1Q 2024.\n<\/p>\n Income Taxes<\/b><\/p>\n \nWe recorded a $21.1 million income tax provision in 1Q 2025, compared to $20.2 million in 4Q 2024 and $21.2 million in 1Q 2024. The increase compared to 4Q 2024 and the decrease compared to 1Q 2024 is primarily due to income before taxes.\n<\/p>\n \nThe effective tax rate was 24.3% in 1Q 2025 compared to 23.9% in 4Q 2024 and 24.4% in 1Q 2024. The increase in effective tax rate compared to 4Q 2024 is attributable to higher state taxes and reduced federal tax credits.\n<\/p>\n (8)<\/sup> As used in this press release, 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 comparable GAAP measures, see “Non-GAAP Reconciliation” at the end of the press release.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Capital Management<\/b><\/p>\n \nIn line with our annual capital planning process, the Board of Directors approved a 13% increase in the quarterly cash dividend to $0.17 per share of common stock and an incremental share repurchase authorization of 10% of outstanding shares as of March 31, 2025. The dividend will be paid on May 23, 2025 to stockholders of record as of May 9, 2025. As a result of the incremental authorization, WSFS had 8,033,974 shares, or approximately 14% of outstanding shares as of March 31, 2025, available for repurchase. Capital levels remain strong and are all substantially in excess of the \u201cwell-capitalized\u201d regulatory benchmarks at March 31, 2025, with Common Equity Tier 1 capital ratio and Tier 1 capital ratio of 14.10%, Tier 1 leverage ratio of 11.17%, and Total Risk-based capital ratio of 15.89%.\n<\/p>\n \nDuring 1Q 2025, WSFS repurchased 1,027,214 shares of common stock for an aggregate of $53.8 million and paid quarterly dividends of $8.8 million. Total capital returned to stockholders through share repurchases and quarterly dividends was $62.6 million.\n<\/p>\n \nWSFS\u2019 total stockholders\u2019 equity increased $81.9 million, or 3% (not annualized), during 1Q 2025. The increase was primarily due to a decrease in accumulated other comprehensive loss of $75.4 million, driven by market-value increases on available-for-sale investment securities, and quarterly earnings of $65.9 million. The increase was partially offset by capital returns of $62.6 million to stockholders.\n<\/p>\n \nWSFS\u2019 tangible common equity(9)<\/sup> increased $86.1 million, or 5% (not annualized), compared to December 31, 2024, primarily due to the reasons described above. WSFS\u2019 common equity to assets ratio increased 56bps to 13.00% during the quarter, and our tangible common equity to tangible assets ratio(9) <\/sup>was 8.63% at March 31, 2025, an increase of 55bps, compared to the prior quarter.\n<\/p>\n \nAt March 31, 2025, book value per share was $46.31, an increase of $2.16, or 5% (not annualized), from December 31, 2024, and tangible book value per share was $29.25, an increase of $1.95, or 7% (not annualized), from December 31, 2024. These increases were due to the reasons described above. Book value per share increased $5.14, or 12%, and tangible book value per share increased $4.73, or 19%, compared to 1Q 2024.\n<\/p>\n (9) <\/sup>As used in this press release, tangible common equity and tangible common equity to tangible assets ratio 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 comparable GAAP measures, see “Non-GAAP Reconciliation” at the end of the press release.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Selected Business Segments (included in previous results): 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.<\/i><\/p>\n \nSelected quarterly performance results and metrics are as follows:\n<\/p>\n (Dollars in millions)<\/i><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n March 31, 2025<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \nDecember 31, 2024\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \nMarch 31, 2024\n<\/p>\n<\/td>\n<\/tr>\n \nNet interest income\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 20.3<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n23.1\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n19.7\n<\/p>\n<\/td>\n<\/tr>\n \nProvision for credit losses\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 0.8<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.4\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.3\n<\/p>\n<\/td>\n<\/tr>\n \nFee revenue(10)<\/sup><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 39.9<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n40.3\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n33.5\n<\/p>\n<\/td>\n<\/tr>\n \nNoninterest expense(10)<\/sup><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 30.0<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n29.9\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n26.4\n<\/p>\n<\/td>\n<\/tr>\n \nPre-tax income\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 29.4<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n33.1\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n26.5\n<\/p>\n<\/td>\n<\/tr>\n Performance Metrics<\/span><\/i><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nTrust fee revenue (Institutional Services and BMT of DE)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 24.3<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n24.1\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n17.8\n<\/p>\n<\/td>\n<\/tr>\n \nPrivate Wealth Management fee revenue\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 14.8<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n15.3\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n14.8\n<\/p>\n<\/td>\n<\/tr>\n \nAUM\/AUA(11)<\/sup><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 89,633<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n89,425\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n80,464\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nWealth and Trust pre-tax income was $29.4 million, which decreased $3.8 million, or 11% (not annualized), compared to 4Q 2024. Net interest income drove the decline, as average deposits were $153.7 million lower than 4Q 2024. Fee revenue decreased slightly as a decline in Private Wealth Management, primarily from AUM declines in 4Q 2024, was largely offset by an increase in Institutional Services. Total noninterest expense was relatively flat compared to 4Q 2024.\n<\/p>\n \nWealth and Trust pre-tax income increased $2.9 million, or 11%, compared to 1Q 2024, as higher fee revenue was partially offset by higher expenses. Fee revenue increased $6.4 million, or 19%, compared to 1Q 2024, due to growth in Institutional Services and BMT of DE. In Institutional Services, we continue to win market share and benefit from higher deal volumes with increases in agent and custody fees. Total noninterest expense increased $3.6 million driven by salaries and benefits expense from hiring new advisors and performance-based compensation as well as volume-driven expenses related to deal flow.\n<\/p>\n \nNet AUM of $8.9 billion at the end of 1Q 2025 decreased $0.2 billion, or 2% (not annualized), compared to 4Q 2024, and was relatively flat compared to 1Q 2024.\n<\/p>\n (10)<\/sup> Includes intercompany allocation of revenue and expense.\n<\/p>\n<\/td>\n<\/tr>\n (11)<\/sup> Represents Assets Under Management and Assets Under Administration.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Cash Connect\u00ae<\/sup><\/b><\/p>\n Cash Connect<\/i>\u00ae<\/sup> 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 with one of the largest branded ATM networks in our region<\/i>.\n<\/p>\n \nSelected quarterly financial results and metrics are as follows:\n<\/p>\n (Dollars in millions)<\/i><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n March 31, 2025<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \nDecember 31, 2024\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \nMarch 31, 2024\n<\/p>\n<\/td>\n<\/tr>\n \nNet revenue(12)<\/sup><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 21.5<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n21.8\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n24.1\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nNoninterest expense(13)<\/sup><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 19.9<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n25.2\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n23.3\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nPre-tax income\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 1.6<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(3.4\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.8\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Performance Metrics<\/span><\/i><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nAverage cash managed\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 1,407<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n1,585\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n1,843\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nNumber of serviced non-bank ATMs and smart safes\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 38,214<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n38,574\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n46,031\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nNumber of WSFS owned and branded ATMs\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 580<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n567\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n583\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nNet Profit Margin\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 7.38<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(15.72\n<\/p>\n<\/td>\n \n)%\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3.18\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n<\/tr>\n \nROA\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 1.21<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(2.63\n<\/p>\n<\/td>\n \n)%\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.83\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nCash Connect\u00ae<\/sup> pre-tax income increased $4.9 million compared to 4Q 2024, as the prior quarter included costs associated with a terminated Client relationship. Excluding those costs, pre-tax income increased $0.2 million driven by pricing actions taken during the quarter and lower cost of funds on non-earning cash, partially offset by lower bailment volume. Noninterest expense decreased $5.3 million from 4Q 2024, driven by the Client termination in 4Q 2024 and lower external funding costs due to lower volumes and lower rate environment.\n<\/p>\n \nPre-tax income increased $0.8 million from 1Q 2024 driven by lower expense associated with non-earning cash and a shift in product to higher margin services. Fee revenue decreased $2.6 million due to the lower rate environment and decreased managed-service volume. Noninterest expense decreased $3.4 million from 1Q 2024 driven by the lower rate environment, as well as lower insurance and armored carrier expense driven by volumes. The net profit margin increased to 7.38% compared to 3.18% in 1Q 2024, driven by pricing actions, a shift away from lower margin units, and rates.\n<\/p>\n \nThe number of serviced non-bank ATMs and smart safes declined by 7,817 units, or 17% compared to 1Q 2024, primarily due to a shift away from lower margin units and the loss of the terminated Client relationship.\n<\/p>\n (12)<\/sup> Includes intercompany allocation of income and net interest income.\n<\/p>\n<\/td>\n<\/tr>\n (13)<\/sup> Includes intercompany allocation of expense.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n First Quarter 2025 Earnings Release Conference Call<\/b><\/p>\n \nManagement will conduct a conference call to review 1Q 2025 results at 1:00 p.m. Eastern Time (ET) on Friday, April 25, 2025. Interested parties may access the conference call live on our Investor Relations website (https:\/\/investors.wsfsbank.com<\/a>). For those who cannot access the live conference call, a replay will be accessible shortly after the event concludes through our Investor Relations website.\n<\/p>\n About WSFS Financial Corporation<\/b><\/p>\n |