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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

July 24, 2025
Date of Report
(Date of Earliest Event Reported) 
WSFS Financial Corporation
(Exact Name of Registrant as Specified in its Charter)
 
Delaware 001-35638 22-2866913
(State or Other Jurisdiction
of incorporation)		 (SEC Commission
File Number)		 (IRS Employer
Identification Number)
500 Delaware Ave,
Wilmington, Delaware, 19801
(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
Common Stock, par value $0.01 per share WSFS Nasdaq Global Select Market

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 July 24, 2025, WSFS Financial Corporation (the “Registrant”) issued a press release to report earnings for the quarter ended June 30, 2025. 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 third quarter of 2025. 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.
99.1 Press Release, dated July 24, 2025
99.2 2Q 2025 Earnings Release Supplement, dated July 24, 2025




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: July 24, 2025 By:   /s/ David Burg
    David Burg
Executive Vice President, Chief Financial Officer


EX-99.1 2 exhibit991earningsrelease0.htm EX-99.1 Document
wsfs_corp2.jpg
 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
July 24, 2025 Media Contact: Connor Peoples
(215) 864-5645; cpeoples@wsfsbank.com

WSFS REPORTS 2Q 2025 EPS OF $1.27 AND ROA OF 1.39%;
RESULTS DRIVEN BY NIM OF 3.89% AND FEE REVENUE GROWTH OF 9%
$87.3 MILLION OF CAPITAL RETURNED TO SHAREHOLDERS



Wilmington, DE — WSFS Financial Corporation (Nasdaq: WSFS), the parent company of WSFS Bank, today announced its financial results for the second quarter of 2025.
Selected financial results and metrics are as follows:
(Dollars in millions, except per share data) 2Q 2025 1Q 2025 2Q 2024
Net interest income $ 179.5  $ 175.2  $ 174.4 
Fee revenue 88.0  80.9  91.6 
Total net revenue 267.5  256.1  266.0 
Provision for credit losses 12.6  17.4  19.8 
Noninterest expense 159.3  151.8  155.8 
Net income attributable to WSFS
 72.3  65.9  69.3 
Pre-provision net revenue (PPNR)(1)
 108.2  104.3  110.3 
Earnings per share (EPS) (diluted) 1.27  1.12  1.16 
Return on average assets (ROA) (a) 1.39  % 1.29  % 1.34  %
Return on average equity (ROE) (a) 10.9  10.1  11.4 
Fee revenue as % of total net revenue 32.8  31.5  34.4 
Efficiency ratio 59.5  59.2  58.5 
See “Notes”
GAAP 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.
2Q 2025 1Q 2025 2Q 2024
(Dollars in millions, except per share data) Total (pre-tax) Per share (after-tax) Total (pre-tax) Per share (after-tax) Total (pre-tax) Per share (after-tax)
Fee revenue $ —  $ —  $ —  $ —  $ 5.6  $ 0.07 
Noninterest expense (0.3) —  0.3  —  (0.2) — 
Income tax impacts 0.1  0.01  (0.1) —  1.3  0.02 

(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 comparable GAAP measures, see "Non-GAAP Reconciliation" at the end of the press release.
wsfs_corp2.jpg
 WSFS Bank Center WSFS Bank Place
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500 Delaware Avenue 1818 Market Street
Wilmington, DE 19801 Philadelphia, PA 19103
CEO Commentary
Rodger Levenson, Chairman, CEO and President, said, "WSFS performed very well in the second quarter with a core EPS(2) of $1.27 and a core ROA(2) of 1.38%. These results were driven by continued strong performance in our fee-based businesses, with 9% quarter-over-quarter growth in core fee revenue(2) driven by our Wealth and Trust, WSFS Mortgage, Capital Markets, and Banking businesses. The net interest margin of 3.89% improved 1bp from the previous quarter and Client deposits grew 6% (annualized) compared to 1Q 2025, primarily from the Trust business. We also had solid growth in C&I loan fundings along with our WSFS-originated Consumer Lending portfolio.
"Our performance provides momentum as we enter the second half of the year, as reflected in our updated FY 2025 outlook.
"Once again, we were honored to be recognized as a Top Workplace by the Philadelphia Inquirer for the tenth time. This award reflects the dedication of our over 2,300 Associates and our continued commitment to our Mission of 'We Stand for Service'."







(2) 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.
wsfs_corp2.jpg
 WSFS Bank Center WSFS Bank Place
3
500 Delaware Avenue 1818 Market Street
Wilmington, DE 19801 Philadelphia, PA 19103
Highlights for 2Q 2025: 

•Core EPS was $1.27 and core ROA was 1.38% compared to $1.13 and 1.29% for 1Q 2025.
•Core PPNR(3) of $107.8 million compared to $104.6 million for 1Q 2025.
•Continued strong net interest margin of 3.89%, compared to 3.88% for 1Q 2025.
•Core Fee Revenue increased $7.1 million, or 9% (not annualized), compared to 1Q 2025 driven by Institutional Trust and The Bryn Mawr Trust Company of Delaware (BMT of DE).
•Total net credit costs were $14.3 million, compared to $17.6 million for 1Q 2025, reflecting lower net charge-offs for the quarter.
•Client deposits increased 1% (6% annualized) compared to 1Q 2025, driven by an increase in Trust deposits.
•Announced the sale of the majority of the unsecured consumer lending portfolio generated through our partnership with Upstart on July 8th. This transaction accelerates the disposition of a non-strategic portfolio that has been in runoff mode.
•WSFS repurchased 1,556,199 shares of common stock (2.7% of outstanding shares as of 1Q 2025) at an average price of $49.93 per share, totaling an aggregate of $77.7 million, and paid quarterly dividends of $9.6 million, for a total capital return of $87.3 million.








(3) 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.
wsfs_corp2.jpg
 WSFS Bank Center WSFS Bank Place
4
500 Delaware Avenue 1818 Market Street
Wilmington, DE 19801 Philadelphia, PA 19103
Second Quarter 2025 Discussion of Financial Results
Balance Sheet
The following table summarizes loan and lease balances and composition at June 30, 2025 compared to March 31, 2025 and June 30, 2024:
Loans and Leases
(Dollars in millions) June 30, 2025 March 31, 2025 June 30, 2024
Commercial & industrial (C&I)(4)
 $ 4,731  36  % $ 4,651  36  % $ 4,599  35  %
Commercial mortgage 3,911  30  3,982  31  4,035  31 
Construction 858  7  869  6  879  7 
Commercial small business leases 630  5  636  5  644  5 
Total commercial loans and leases 10,130  78  10,138  78  10,157  78 
Residential mortgage 1,016  8  992  8  936  7 
Consumer 2,006  15  2,033  16  2,106  17 
Gross loans and leases 13,152  101  % 13,163  102  % 13,199  102  %
ACL (186) (1) (188) (2) (198) (2)
Net loans and leases $ 12,966  100  % $ 12,975  100  % $ 13,001  100  %
At June 30, 2025, WSFS’ gross loan and lease portfolio decreased $10.7 million, or less than 1%, when compared with March 31, 2025. During the quarter, WSFS transferred Upstart loans with an outstanding book balance of $98.1 million to loans held for sale, resulting in a write-down of $8.1 million. Excluding the Upstart and Spring EQ runoff portfolios, gross loans and leases increased $65.5 million, or 1% (2% annualized). The increase was primarily driven by growth in C&I (7% annualized), WSFS-originated consumer loans (23% annualized), and residential mortgage (10% annualized). Partially offsetting the increases was a decrease in commercial mortgage, reflecting payoffs of several large loans within multifamily and office. Construction declined by 1%, as new fundings were mainly offset by conversions to the C&I and commercial mortgage portfolios.
Gross loans and leases at June 30, 2025 decreased $46.7 million, or less than 1%, when compared with June 30, 2024. Excluding the impacts of the Upstart and Spring EQ runoff portfolios, loans and leases increased $138.6 million, or 1%. The increase was driven by growth of $131.6 million, or 3%, in C&I, $97.9 million, or 11%, in WSFS-originated consumer loans, and $80.2 million, or 9%, in residential mortgage. The growth in consumer and mortgage loans reflects momentum in our newly combined Home Lending business where we continue to invest in talent and product capabilities.


(4) Includes owner-occupied real estate.
wsfs_corp2.jpg
 WSFS Bank Center WSFS Bank Place
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500 Delaware Avenue 1818 Market Street
Wilmington, DE 19801 Philadelphia, PA 19103
The following table summarizes client deposit balances and composition at June 30, 2025 compared to March 31, 2025 and June 30, 2024:
Client Deposits
(Dollars in millions)
 June 30, 2025 March 31, 2025 June 30, 2024
Noninterest demand $ 5,306  31  % $ 4,947  29  % $ 4,783  29  %
Interest-bearing demand 2,806  16  2,882  17  2,812  17 
Savings 1,452  9  1,463  9  1,537  9 
Money market 5,471  32  5,487  33  5,175  33 
Total core deposits 15,035  88  14,779  88  14,307  88 
Time deposits 2,086  12  2,100  12  1,984  12 
Total client deposits $ 17,121  100  % $ 16,879  100  % $ 16,291  100  %
Total client deposits increased by $242.4 million, or 1% (6% annualized), when compared with March 31, 2025, primarily due to an increase in Trust deposits, partially offset by decreases in Commercial and seasonal municipal interest demand deposits. Noninterest demand deposits comprised 32% of average total client deposits, a 2% increase compared with March 31, 2025, reflecting the strength of our deposit base.
Total client deposits increased by $830.4 million, or 5%, from June 30, 2024, driven by broad-based growth across the Trust, Consumer, and Commercial businesses, with growth in noninterest demand, money market, and time deposits. Noninterest demand deposits increased 11% compared to June 30, 2024.
The deposit base remains well-diversified, with 51% of quarterly average client deposits coming from the Commercial, Small Business, and Wealth and Trust businesses. No- and low-cost checking accounts represented 47% of total client deposits with a weighted average cost of 36bps for the quarter. The loan-to-deposit ratio(5) was 76% at June 30, 2025, providing continued capacity to fund future loan growth.





(5) Ratio of net loans and leases to total client deposits.
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 WSFS Bank Center WSFS Bank Place
6
500 Delaware Avenue 1818 Market Street
Wilmington, DE 19801 Philadelphia, PA 19103
Net Interest Income
Three Months Ending
(Dollars in millions)
 June 30, 2025 March 31, 2025 June 30, 2024
Net interest income before purchase accretion $ 177.5  $ 173.1  $ 172.7 
Purchase accounting accretion 2.0  2.1  1.7 
Net interest income
 $ 179.5  $ 175.2  $ 174.4 
Net interest margin before purchase accretion 3.84  % 3.83  % 3.81  %
Purchase accounting accretion 0.05  0.05  0.04 
Net interest margin
 3.89  % 3.88  % 3.85  %
Net interest income increased $4.3 million, or 2% (not annualized), compared to 1Q 2025, driven by deposit repricing actions, higher cash balances from growth in noninterest deposits, and continued wholesale funding optimization, partially offset by the reduction of interest income associated with the Upstart sale. Net interest income increased $5.0 million compared to 2Q 2024, driven by lower wholesale funding and deposit costs as well as higher cash balances from deposit growth. The increase was partially offset by lower loan yields due to rate cuts in 2H 2024.
Total loan yields were 6.60%, a decrease of 7bps when compared to 1Q 2025, driven by the impact from the Upstart sale mentioned above. Total client deposit costs were 1.63%, a decrease of 8bps, while interest-bearing deposit costs were 2.38%, a decrease of 5bps, each compared to the prior quarter. The deposit cost decreases reflect deposit repricing actions.
Net interest margin of 3.89%, an increase of 1bp compared to 1Q 2025 and 4bps from 2Q 2024, reflects the aforementioned deposit repricing actions and a reduction in wholesale funding, partially offset by the lower loan yields mentioned above.
wsfs_corp2.jpg
 WSFS Bank Center WSFS Bank Place
7
500 Delaware Avenue 1818 Market Street
Wilmington, DE 19801 Philadelphia, PA 19103
Asset Quality
(Dollars in millions) June 30, 2025 March 31, 2025 June 30, 2024
Problem assets(6)
 $ 683.1  $ 683.7  $ 628.5 
Delinquencies (n) 158.0  147.7  89.0 
Nonperforming assets (n) 106.2  116.9  65.4 
Net charge-offs on loans and leases 9.8  24.6  14.2 
Total net credit costs (r) 14.3  17.6  18.5 
Problem assets to total Tier 1 capital plus ACL 29.83  % 27.83  % 27.00  %
Classified assets to total Tier 1 capital plus ACL 21.60  20.80  19.93 
Ratio of nonperforming assets to total assets (n) 0.51  0.57  0.32 
Delinquencies to gross loans (i)(n) 1.22  1.13  0.68 
Ratio of quarterly net charge-offs to average gross loans 0.30  0.76  0.44 
Ratio of allowance for credit losses to total loans and leases (q) 1.43  1.43  1.51 
Ratio of allowance for credit losses to nonaccruing loans (n) 177  168  310 
See “Notes”
Problem assets were flat compared to March 31, 2025, while nonperforming assets decreased $10.7 million, or 6bps of total assets, compared to March 31, 2025, primarily due to the payoff of a C&I credit.
Delinquencies of $158.0 million, or 122bps of gross loans, increased $10.2 million, or 9bps, compared to March 31, 2025. One relationship accounted for $5.7 million of the increase and fully paid off in July.
Net charge-offs decreased $14.8 million to $9.8 million, or 30bps (annualized) of average gross loans, during the quarter. Net charge-offs in the quarter included the impact of the Upstart sale. Excluding Upstart, total net charge-offs were $4.5 million (14bps annualized) primarily driven by NewLane, with minimal net charge-offs in Commercial as recoveries largely offset losses.
Total net credit costs were $14.3 million in the quarter, a decrease of $3.3 million, compared to $17.6 million in 1Q 2025. Credit costs for the quarter included $6.3 million of additional reserves on two previously identified nonperforming loans as well as a $4.1 million increase related to accounts receivable within the Wealth and Trust segment, which includes $2.3 million in reserves and $1.8 million for charge-offs.
The ACL on loans and leases was $186.3 million as of June 30, 2025, a decrease of $1.2 million from March 31, 2025, driven by the impacts from the Upstart sale. The ACL coverage ratio remained flat at 1.43%.



(6) Problem assets includes all criticized, classified, and nonperforming loans as well as other real estate owned (OREO).
wsfs_corp2.jpg
 WSFS Bank Center WSFS Bank Place
8
500 Delaware Avenue 1818 Market Street
Wilmington, DE 19801 Philadelphia, PA 19103
Core Fee Revenue
Core fee revenue (noninterest income) of $88.0 million increased $7.1 million, or 9% (not annualized), compared to $80.9 million from 1Q 2025. The increase was primarily driven by a $4.6 million, or 12% (not annualized), increase in Wealth and Trust revenue, with double-digit increases in Institutional Services and BMT of DE. The quarter also included $2.3 million of revenue from Spring EQ (related to the annual earnout from the previously announced sale) as well as an increase of $0.5 million from WSFS Mortgage.
Core fee revenue increased $2.0 million, or 2%, compared to 2Q 2024. The increase was primarily driven by a 17% increase in Wealth and Trust as well as the Spring EQ earnout. The increase was partially offset by a decline in Cash Connect® and Capital Markets fees. The decline in Cash Connect® was primarily due to the lower interest rate environment (which was more than offset in expenses) and lower ATM bailment volume.
For 2Q 2025, our core fee revenue ratio(7) was 32.8% compared to 31.5% in 1Q 2025 and 33.0% in 2Q 2024. Fee revenue is a competitive differentiator providing a well-diversified source of revenue with further growth opportunities expected.







(7) As used in this press release, 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.
wsfs_corp2.jpg
 WSFS Bank Center WSFS Bank Place
9
500 Delaware Avenue 1818 Market Street
Wilmington, DE 19801 Philadelphia, PA 19103
Core Noninterest Expense(8)
Core noninterest expense of $159.7 million increased $8.2 million, or 5% (not annualized), compared to 1Q 2025, as the first quarter included certain one-time credits. Excluding the impact of these credits (approximately $4.0 million), the increase was primarily driven by higher salaries and benefits, technology costs, loan workout and other credit costs. The results for the quarter also included $1.6 million of one-time insurance recoveries at Cash Connect® primarily related to losses associated with a client termination in 4Q 2024.
Core noninterest expense increased $3.7 million, or 2%, compared to 2Q 2024. The increase was largely driven by $5.9 million in higher salaries and benefits as a result of talent additions in key business areas and performance-based increases, as well as a $2.9 million increase in loan workout and other credit costs and $1.7 million from technology costs. These increases were partially offset by a $5.1 million decrease in Cash Connect® external funding costs, due to lower rates and volumes, as well as the $1.6 million of insurance recoveries mentioned above.
Our core efficiency ratio(8) was 59.6% in 2Q 2025, compared to 59.0% in 1Q 2025 and 59.8% in 2Q 2024.
Income Taxes
We recorded a $23.3 million income tax provision in 2Q 2025, compared to $21.1 million in 1Q 2025 and $21.3 million in 2Q 2024. The increase compared to 1Q 2025 was primarily due to higher income before taxes and the increase compared to 2Q 2024 was primarily due to certain tax credits in 2024.
The effective tax rate was 24.4% in 2Q 2025 compared to 24.3% in 1Q 2025 and 23.5% in 2Q 2024. The increase in effective tax rate compared to 2Q 2024 is attributable to higher state taxes and reduced federal tax credits.





(8) 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.
wsfs_corp2.jpg
 WSFS Bank Center WSFS Bank Place
10
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 June 30, 2025, with a Common Equity Tier 1 capital ratio and Tier 1 capital ratio of 14.07%, Tier 1 leverage ratio of 11.04%, and Total Risk-based capital ratio of 15.86%.
WSFS’ total stockholders’ equity increased $11.1 million, or less than 1% (not annualized), during 2Q 2025. The increase was primarily due to quarterly earnings of $72.3 million and a decrease in accumulated other comprehensive loss of $27.3 million, driven by market-value increases on available-for-sale investment securities. The increase was mostly offset by capital returns to stockholders of $87.3 million (comprised of $77.7 million from share repurchases and $9.6 million from quarterly dividends).
WSFS’ tangible common equity(9) increased $17.5 million, or 1% (not annualized), compared to March 31, 2025, primarily due to the reasons described above. WSFS’ common equity to assets ratio decreased 8bps to 12.92% during the quarter, and our tangible common equity to tangible assets ratio(9) was 8.62% at June 30, 2025, a decrease of 1bp, compared to the prior quarter.
At June 30, 2025, book value per share was $47.71, an increase of $1.40, or 3% (not annualized), from March 31, 2025, and tangible book value per share was $30.32, an increase of $1.07, or 4% (not annualized), from March 31, 2025. These increases were due to the reasons described above. Book value per share increased $5.70, or 14%, and tangible book value per share increased $5.12, or 20%, compared to 2Q 2024.
During 2Q 2025, WSFS repurchased 1,556,199 shares of common stock for an aggregate of $77.7 million. As of June 30, 2025, WSFS has 6,477,775 shares, or approximately 12% of outstanding shares, available for repurchase under its current authorizations. For the year, total capital returned to stockholders through share repurchases and quarterly dividends was $149.9 million.
The Board of Directors approved a quarterly cash dividend of $0.17 per share of common stock. This dividend will be paid on August 22, 2025 to stockholders of record as of August 8, 2025.

(9) 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.
wsfs_corp2.jpg
 WSFS Bank Center WSFS Bank Place
11
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) June 30, 2025 March 31, 2025 June 30, 2024
Net interest income $ 23.0  $ 20.3  $ 18.4 
Provision for credit losses 4.4  0.8  — 
Fee revenue(10)
 44.5  39.9  38.2 
Noninterest expense(10)
 32.3  30.0  28.0 
Pre-tax income 30.7  29.4  28.6 
Performance Metrics
Institutional Services and BMT of DE fee revenue $ 27.9  $ 24.3  $ 21.8 
Private Wealth Management fee revenue 16.1  15.1  15.8 
AUM/AUA(11)
 92,386  89,633  84,938 
Wealth and Trust pre-tax income was $30.7 million, which increased $1.4 million, or 5% (not annualized), compared to 1Q 2025. Increases in fee revenue and net interest income were partially offset by higher provision due to an adjustment to the ACL for accounts receivable, reflecting significant growth in the business as well as continued enhancements to our methodology. Fee revenue increased due to transaction and account growth in Institutional Services and BMT of DE, while Private Wealth Management fees grew primarily due to a seasonal increase in tax activity. Total noninterest expense was $2.4 million higher than 1Q 2025 due to higher compensation and legal expenses.
Wealth and Trust pre-tax income increased $2.2 million, or 8%, compared to 2Q 2024. Total revenue increased $10.9 million, or 19%, driven by a $6.3 million, or 17%, increase in fee revenue, primarily related to Institutional Services and BMT of DE, and a $4.6 million, or 25%, increase in net interest income due to higher deposit balances in Institutional Services. Provision increased by $4.4 million due to the increase in ACL noted above. Noninterest expense of $32.3 million increased $4.3 million primarily due to investments in talent, including two lift-out teams, as well as legal expenses.
Net AUM of $8.9 billion at the end of 2Q 2025 was roughly flat to 1Q 2025, and decreased $0.1 billion or 1%, compared to 2Q 2024.


(10) Includes intercompany allocation of revenue and expense.
(11) Represents Assets Under Management and Assets Under Administration.
wsfs_corp2.jpg
 WSFS Bank Center WSFS Bank Place
12
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 with one of the largest branded ATM networks in our region.
Selected quarterly financial results and metrics are as follows:
(Dollars in millions) June 30, 2025 March 31, 2025 June 30, 2024
Net revenue(12)
 $ 21.1  $ 21.5  $ 27.6 
Noninterest expense(13)
 17.8  19.9  25.6 
Pre-tax income 3.3  1.6  2.0 
Performance Metrics
Average cash managed $ 1,329  $ 1,407  $ 1,530 
Number of serviced non-bank ATMs and smart safes 36,494  38,214  42,524 
Number of WSFS owned and branded ATMs 582  580  579 
Net profit margin 15.58  % 7.24  % 7.17  %
ROA 2.43  % 1.21  % 1.72  %
Cash Connect® pre-tax income increased $1.7 million compared to 1Q 2025, driven by $1.6 million of one-time insurance recoveries during the quarter, primarily related to the client termination losses from 4Q 2024. Excluding those recoveries, pre-tax income was essentially flat. Net revenue decreased $0.3 million from 1Q 2025 driven by lower bailment volumes, which were more than offset in expenses.
Excluding the aforementioned insurance recoveries, pre-tax income decreased $0.3 million compared to 2Q 2024 driven by lower ATM bailment units and managed service volume, partially offset by pricing actions and lower expense associated with non-earning cash. Net revenue decreased $6.4 million driven by the lower rate environment (which was more than offset in expenses) as well as lower volumes. Noninterest expense decreased $7.7 million from 2Q 2024 driven by lower rate environment and funding volumes, as well as the previously referenced insurance recovery. Excluding the insurance recoveries, net profit margin increased to 7.95%, compared to 7.17% in 2Q 2024.






(12) Includes intercompany allocation of income and net interest income.
(13) Includes intercompany allocation of expense.
wsfs_corp2.jpg
 WSFS Bank Center WSFS Bank Place
13
500 Delaware Avenue 1818 Market Street
Wilmington, DE 19801 Philadelphia, PA 19103
Second Quarter 2025 Earnings Release Conference Call
Management will conduct a conference call to review 2Q 2025 results at 1:00 p.m. Eastern Time (ET) on Friday, July 25, 2025. 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 June 30, 2025, WSFS Financial Corporation had $20.8 billion in assets on its balance sheet and $92.4 billion in assets under management and administration. WSFS operates from 115 offices, 88 of which are banking offices, located in Pennsylvania (58), Delaware (39), 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®, WSFS Mortgage®, and WSFS Wealth® Investments. 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_corp2.jpg
 WSFS Bank Center WSFS Bank Place
14
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, volatile market conditions and uncertain 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 potential recessionary and other unfavorable conditions and trends related to housing markets, costs of living, unemployment levels, interest rates, supply chain issues, inflation, and economic growth; the impacts related to or resulting from bank failures and other economic and industry volatility, including potential changes in regulatory requirements and costs and potential impacts to macroeconomic conditions; possible additional loan losses and impairment of the collectability of loans; the Company's level of nonperforming assets and the costs associated with resolving problem loans including litigation and other costs; changes in market interest rates, which may lead to reduced margin as a result of increased funding costs and/or reduced earning asset yields; the impact of changes in 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 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; 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; possible 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; the success of the Company's growth plans; failure of the financial and/or operational controls of the Company's Cash Connect® and/or Wealth and Trust segments; negative perceptions or publicity with respect to the Company generally and, in particular, the Company's Wealth and Trust business; adverse judgments or other resolution of pending and future legal proceedings, and cost 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; 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, pay dividends to its stockholders and repurchase shares of its common stock; 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, 2024 and 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_corp2.jpg
 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)
Three months ended Six months ended
(Dollars in thousands, except per share data) June 30, 2025 March 31, 2025 June 30, 2024 June 30, 2025 June 30, 2024
Interest income:
Interest and fees on loans $ 216,005  $ 216,752  $ 230,815  $ 432,757  $ 455,518 
Interest on mortgage-backed securities 24,531  24,745  25,784  49,276  51,681 
Interest and dividends on investment securities 2,186  2,186  2,183  4,372  4,367 
Other interest income 10,468  7,195  6,455  17,663  15,293 
253,190  250,878  265,237  504,068  526,859 
Interest expense:
Interest on deposits 70,124  71,104  76,693  141,228  149,488 
Interest on Federal Home Loan Bank advances 949  938  359  1,887  667 
Interest on senior and subordinated debt 1,089  2,074  2,441  3,163  4,890 
Interest on trust preferred borrowings 1,518  1,523  1,750  3,041  3,506 
Interest on other borrowings 15  23  9,545  38  18,581 
73,695  75,662  90,788  149,357  177,132 
Net interest income 179,495  175,216  174,449  354,711  349,727 
Provision for credit losses 12,621  17,350  19,814  29,971  34,952 
Net interest income after provision for credit losses 166,874  157,866  154,635  324,740  314,775 
Noninterest income:
Credit/debit card and ATM income 18,309  18,743  23,875  37,052  43,544 
Investment management and fiduciary revenue 43,774  39,281  37,606  83,055  70,534 
Deposit service charges 6,802  6,753  6,496  13,555  12,983 
Mortgage banking activities, net 2,341  1,800  2,217  4,141  3,864 
Loan and lease fee income 1,430  1,465  1,706  2,895  3,229 
Realized gain on sale of equity investment, net 18  —  2,130  18  2,130 
Bank-owned life insurance income 544  727  793  1,271  1,993 
Other income 14,791  12,128  16,775  26,919  29,178 
88,009  80,897  91,598  168,906  167,455 
Noninterest expense:
Salaries, benefits and other compensation 89,145  82,477  83,249  171,622  159,055 
Occupancy expense 8,829  9,893  9,387  18,722  18,866 
Equipment expense 13,778  12,728  12,054  26,506  22,746 
Data processing and operations expense 5,010  4,695  4,807  9,705  8,467 
Professional fees 6,211  4,698  4,781  10,909  9,262 
Marketing expense 1,925  1,695  2,020  3,620  3,802 
FDIC expenses 2,433  2,578  2,390  5,011  6,372 
Loan workout and other credit costs 1,629  240  (1,278) 1,869  (207)
Corporate development expense (329) 59  158  (270) 366 
Restructuring expense —  260  —  260  — 
Other operating expenses 30,712  32,472  38,200  63,184  76,111 
159,343  151,795  155,768  311,138  304,840 
Income before taxes 95,540  86,968  90,465  182,508  177,390 
Income tax provision 23,319  21,101  21,257  44,420  42,459 
Net income 72,221  65,867  69,208  138,088  134,931 
Less: Net loss attributable to noncontrolling interest (105) (29) (65) (134) (103)
Net income attributable to WSFS $ 72,326  $ 65,896  $ 69,273  $ 138,222  $ 135,034 
Diluted earnings per share of common stock: $ 1.27  $ 1.12  $ 1.16  $ 2.39  $ 2.24 
Weighted average shares of common stock outstanding for fully diluted EPS 56,851,797  58,713,452  59,958,628  57,765,602  60,237,232 
See “Notes”
wsfs_corp2.jpg
 WSFS Bank Center WSFS Bank Place
16
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 Six months ended
  June 30, 2025 March 31, 2025 June 30, 2024 June 30, 2025 June 30, 2024
Performance Ratios:
Return on average assets (a) 1.39  % 1.29  % 1.34  % 1.34  % 1.31  %
Return on average equity (a) 10.94  10.13  11.39  10.54  11.03 
Return on average tangible common equity (a)(o) 18.08  16.91  20.08  17.50  19.42 
Net interest margin (a)(b) 3.89  3.88  3.85  3.88  3.85 
Efficiency ratio (c) 59.46  59.16  58.46  59.31  58.86 
Noninterest income as a percentage of total net revenue (b) 32.84  31.53  34.38  32.20  32.33 
See “Notes”
wsfs_corp2.jpg
 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)
SUMMARY STATEMENTS OF FINANCIAL CONDITION (Unaudited)
(Dollars in thousands) June 30, 2025 March 31, 2025 June 30, 2024
Assets:
Cash and due from banks $ 899,713  $ 693,830  $ 618,446 
Cash in non-owned ATMs 424,741  322,520  400,482 
Investment securities, available-for-sale 3,494,783  3,548,077  3,651,913 
Investment securities, held-to-maturity 994,340  1,006,410  1,038,854 
Other investments 46,751  39,552  36,204 
Net loans and leases (e)(f)(l) 12,965,825  12,975,323  13,000,556 
Bank owned life insurance 36,044  36,344  36,090 
Goodwill and intangibles 977,546  983,882  996,181 
Other assets 923,549  943,012  965,804 
Total assets $ 20,763,292  $ 20,548,950  $ 20,744,530 
Liabilities and Stockholders’ Equity:
Noninterest-bearing deposits $ 5,305,768  $ 4,947,049  $ 4,782,920 
Interest-bearing deposits 11,815,701  11,932,012  11,508,161 
Total client deposits 17,121,469  16,879,061  16,291,081 
Federal Home Loan Bank advances 51,040  51,040  22,306 
Other borrowings 252,419  267,052  1,119,949 
Other liabilities 666,146  690,588  832,837 
Total liabilities 18,091,074  17,887,741  18,266,173 
Stockholders’ equity of WSFS 2,682,728  2,671,614  2,489,580 
Noncontrolling interest (10,510) (10,405) (11,223)
Total stockholders' equity 2,672,218  2,661,209  2,478,357 
Total liabilities and stockholders' equity $ 20,763,292  $ 20,548,950  $ 20,744,530 
Capital Ratios:
Equity to asset ratio 12.92  % 13.00  % 12.00  %
Tangible common equity to tangible asset ratio (o) 8.62  8.63  7.56 
Common equity Tier 1 capital (required: 4.5%; well capitalized: 6.5%) (g) 14.07  14.10  13.29 
Tier 1 leverage (required: 4.00%; well-capitalized: 5.00%) (g) 11.04  11.17  10.61 
Tier 1 risk-based capital (required: 6.00%; well-capitalized: 8.00%) (g) 14.07  14.10  13.29 
Total risk-based capital (required: 8.00%; well-capitalized: 10.00%) (g) 15.86  15.89  15.34 
Asset Quality Indicators:
Nonperforming assets:
Nonaccruing loans (t)(n) $ 105,236  $ 111,675  $ 64,034 
Assets acquired through foreclosure 930  5,204  1,342 
Total nonperforming assets $ 106,166  $ 116,879  $ 65,376 
Past due loans (h)(n) $ 23,012  $ 11,866  $ 9,798 
Troubled loans (u)(n) 195,916  184,122  133,080 
Allowance for credit losses 189,121  188,088  198,260 
Ratio of nonperforming assets to total assets (n) 0.51  % 0.57  % 0.32  %
Ratio of allowance for credit losses to total loans and leases (q) 1.43  1.43  1.51 
Ratio of allowance for credit losses to nonaccruing loans (n) 177  168  310 
Ratio of quarterly net charge-offs to average gross loans (a)(e)(i) 0.30  0.76  0.44 
Ratio of year-to-date net charge-offs to average gross loans (a)(e)(i) 0.53  0.76  0.35 
See “Notes”
wsfs_corp2.jpg
 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) 
AVERAGE BALANCE SHEET (Unaudited)
(Dollars in thousands) Three months ended
  June 30, 2025 March 31, 2025 June 30, 2024
  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 loans and leases (p) $ 5,263,533  $ 88,226  6.74  % $ 5,235,511  $ 87,112  6.76  % $ 5,115,017  $ 91,001  7.17  %
Commercial real estate loans (s) 4,808,177  78,400  6.54  4,881,873  79,095  6.57  4,968,847  88,852  7.19 
Residential mortgage 965,480  12,935  5.36  965,624  12,802  5.30  892,139  10,995  4.93 
Consumer loans 1,997,285  35,096  7.05  2,061,803  36,649  7.21  2,088,180  39,019  7.52 
Loans held for sale 96,517  1,348  5.60  50,929  1,094  8.71  42,010  948  9.08 
Total loans and leases 13,130,992  216,005  6.60  13,195,740  216,752  6.67  13,106,193  230,815  7.09 
Mortgage-backed securities (d) 4,148,820  24,531  2.37  4,179,692  24,745  2.37  4,335,831  25,784  2.38 
Investment securities (d) 366,391  2,186  2.70  363,678  2,186  2.74  361,093  2,183  2.70 
Other interest-earning assets 934,152  10,468  4.49  640,424  7,195  4.56  469,120  6,455  5.53 
Total interest-earning assets $ 18,580,355  $ 253,190  5.48  % $ 18,379,534  $ 250,878  5.55  % $ 18,272,237  $ 265,237  5.85  %
Allowance for credit losses (188,252) (196,480) (195,557)
Cash and due from banks 188,300  188,138  308,226 
Cash in non-owned ATMs 390,275  379,115  339,430 
Bank owned life insurance 36,042  36,202  41,067 
Other noninterest-earning assets 1,898,721  1,947,736  2,020,925 
Total assets $ 20,905,441  $ 20,734,245  $ 20,786,328 
Liabilities and stockholders’ equity:
Interest-bearing liabilities:
Interest-bearing deposits:
Interest-bearing demand $ 2,829,653  $ 7,337  1.04  % $ 2,854,258  $ 7,343  1.04  % $ 2,807,761  $ 8,107  1.16  %
Savings 1,445,123  1,609  0.45  1,457,440  1,596  0.44  1,553,044  1,774  0.46 
Money market 5,437,897  41,120  3.03  5,432,622  41,033  3.06  5,172,682  46,390  3.61 
Time deposits 2,094,572  20,058  3.84  2,112,467  21,132  4.06  1,937,265  20,422  4.24 
Total interest-bearing deposits 11,807,245  70,124  2.38  11,856,787  71,104  2.43  11,470,752  76,693  2.69 
Federal Home Loan Bank advances 84,007  949  4.53  83,818  938  4.54  25,742  359  5.61 
Trust preferred borrowings 90,903  1,518  6.70  90,854  1,523  6.80  90,704  1,750  7.76 
Senior and subordinated debt 148,708  1,089  2.93  206,984  2,074  4.01  218,478  2,441  4.47 
Other borrowed funds 19,428  15  0.31  31,701  23  0.29  816,919  9,545  4.70 
Total interest-bearing liabilities $ 12,150,291  $ 73,695  2.43  % $ 12,270,144  $ 75,662  2.50  % $ 12,622,595  $ 90,788  2.89  %
Noninterest-bearing demand deposits 5,438,692  5,040,032  4,835,912 
Other noninterest-bearing liabilities 674,616  797,098  891,273 
Stockholders’ equity of WSFS 2,652,257  2,637,354  2,446,371 
Noncontrolling interest (10,415) (10,383) (9,823)
Total liabilities and equity $ 20,905,441  $ 20,734,245  $ 20,786,328 
Excess of interest-earning assets over interest-bearing liabilities $ 6,430,064  $ 6,109,390  $ 5,649,642 
Net interest and dividend income $ 179,495  $ 175,216  $ 174,449 
Interest rate spread 3.05  % 3.05  % 2.96  %
Net interest margin 3.89  % 3.88  % 3.85  %
See “Notes”
wsfs_corp2.jpg
 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)
(Unaudited)
 
(Dollars in thousands, except per share data) Three months ended Six months ended
Stock Information: June 30, 2025 March 31, 2025 June 30, 2024 June 30, 2025 June 30, 2024
Market price of common stock:
High $57.06 $59.43 $47.55 $59.43 $47.71
Low 42.44 49.65 41.33 42.44 40.20
Close 55.00 51.87 47.00 55.00 47.00
Book value per share of common stock 47.71 46.31 42.01
Tangible common book value (TBV) per share of common stock (o) 30.32 29.25 25.20
Number of shares of common stock outstanding (000s) 56,235 57,693 59,261
Other Financial Data:
One-year repricing gap to total assets (k) 4.54% 2.30% (0.30)%
Weighted average duration of the MBS portfolio 6.2 years 6.1 years 5.7 years
Unrealized losses on securities available for sale, net of taxes $(445,065) $(467,752) $(549,039)
Number of Associates (FTEs) (m) 2,375 2,336 2,279
Number of offices (branches, LPO’s, operations centers, etc.) 115 115 114
Number of WSFS owned and branded ATMs 582 580 579
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 Wilmington Financial Corporation and subsidiaries. Capital Ratios for the current quarter are to be considered preliminary until the Call Reports are filed.
(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 comparable GAAP measures, see "Non-GAAP Reconciliation" at the end of the press release.
(p)Includes commercial & industrial loans and commercial small business leases.
(q)Reflects allowance for credit losses on loans and leases over the amortized cost of the total portfolio.
(r)Includes provision for credit losses, loan workout expenses, OREO expenses and other credit costs.
(s)Includes commercial mortgage and commercial construction loans.
(t)Includes nonaccruing troubled loans.
(u)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.
wsfs_corp2.jpg
 WSFS Bank Center WSFS Bank Place
20
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 Six months ended
  June 30, 2025 March 31, 2025 June 30, 2024 June 30, 2025 June 30, 2024
Net interest income (GAAP) $ 179,495  $ 175,216  $ 174,449  $ 354,711  $ 349,727 
Core net interest income (non-GAAP) 179,495  175,216  174,449  354,711  349,727 
Noninterest income (GAAP) 88,009  80,897  91,598  168,906  167,455 
Less: Realized gain on sale of equity investment, net 18  —  2,130  18  2,130 
Less: Visa derivative valuation adjustment —  —  3,434  —  2,829 
Core fee revenue (non-GAAP) $ 87,991  $ 80,897  $ 86,034  $ 168,888  $ 162,496 
Core net revenue (non-GAAP) $ 267,486  $ 256,113  $ 260,483  $ 523,599  $ 512,223 
Core net revenue (non-GAAP)(tax-equivalent) $ 267,972  $ 256,568  $ 260,900  $ 524,540  $ 512,984 
Noninterest expense (GAAP) $ 159,343  $ 151,795  $ 155,768  $ 311,138  $ 304,840 
(Plus)/less: FDIC special assessment —  —  (383) —  880 
(Plus)/less: Corporate development expense (329) 59  158  (270) 366 
Less: Restructuring expense —  260  —  260  — 
Core noninterest expense (non-GAAP) $ 159,672  $ 151,476  $ 155,993  $ 311,148  $ 303,594 
Core efficiency ratio (non-GAAP) 59.6  % 59.0  % 59.8  % 59.3  % 59.2  %
Core fee revenue ratio (non-GAAP) (b) 32.8  % 31.5  % 33.0  % 32.2  % 31.7  %
  End of period
  June 30, 2025 March 31, 2025 June 30, 2024
Total assets (GAAP) $ 20,763,292  $ 20,548,950  $ 20,744,530 
Less: Goodwill and other intangible assets 977,546  983,882  996,181 
Total tangible assets (non-GAAP) $ 19,785,746  $ 19,565,068  $ 19,748,349 
Total stockholders’ equity of WSFS (GAAP) $ 2,682,728  $ 2,671,614  $ 2,489,580 
Less: Goodwill and other intangible assets 977,546  983,882  996,181 
Total tangible common equity (non-GAAP) $ 1,705,182  $ 1,687,732  $ 1,493,399 
Tangible common book value (TBV) per share:
Book value per share (GAAP) $ 47.71  $ 46.31  $ 42.01 
Tangible common book value per share (non-GAAP) 30.32  29.25  25.20 
Tangible common equity to tangible assets:
Equity to asset ratio (GAAP) 12.92  % 13.00  % 12.00  %
Tangible common equity to tangible assets ratio (non-GAAP) 8.62  8.63  7.56 




wsfs_corp2.jpg
 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 Six months ended
June 30, 2025 March 31, 2025 June 30, 2024 June 30, 2025 June 30, 2024
GAAP net income attributable to WSFS $ 72,326  $ 65,896  $ 69,273  $ 138,222  $ 135,034 
Plus/(less): Pre-tax adjustments: Realized gain on equity investments, net, Visa derivative valuation adjustment, FDIC special assessment, and corporate development and restructuring expense (347) 319  (5,789) (28) (3,713)
(Plus)/less: Tax impact of pre-tax adjustments 149  (78) 1,273  99  776 
Adjusted net income (non-GAAP) attributable to WSFS $ 72,128  $ 66,137  $ 64,757  $ 138,293  $ 132,097 
GAAP return on average assets (ROA) 1.39  % 1.29  % 1.34  % 1.34  % 1.31  %
Plus/(less): Pre-tax adjustments: Realized gain on equity investments, net, Visa derivative valuation adjustment, FDIC special assessment, and corporate development and restructuring expense (0.01) 0.01  (0.11) —  (0.04)
(Plus)/less: Tax impact of pre-tax adjustments —  (0.01) 0.02  —  0.01 
Core ROA (non-GAAP) 1.38  % 1.29  % 1.25  % 1.34  % 1.28  %
Earnings per share (diluted) (GAAP) $ 1.27  $ 1.12  $ 1.16  $ 2.39  $ 2.24 
Plus/(less): Pre-tax adjustments: Realized gain on equity investments, net, Visa derivative valuation adjustment, FDIC special assessment, and corporate development and restructuring expense (0.01) 0.01  (0.10) —  (0.06)
(Plus)/less: Tax impact of pre-tax adjustments 0.01  —  0.02  —  0.01 
Core earnings per share (non-GAAP) $ 1.27  $ 1.13  $ 1.08  $ 2.39  $ 2.19 
Calculation of return on average tangible common equity:
GAAP net income attributable to WSFS $ 72,326  $ 65,896  $ 69,273  $ 138,222  $ 135,034 
Plus: Tax effected amortization of intangible assets 2,946  2,945  3,007  5,891  5,980 
Net tangible income (non-GAAP) $ 75,272  $ 68,841  $ 72,280  $ 144,113  $ 141,014 
Average stockholders’ equity of WSFS $ 2,652,257  $ 2,637,354  $ 2,446,371  $ 2,644,847  $ 2,461,412 
Less: Average goodwill and intangible assets 982,533  986,738  998,939  984,624  1,001,053 
Net average tangible common equity $ 1,669,724  $ 1,650,616  $ 1,447,432  $ 1,660,223  $ 1,460,359 
Return on average tangible common equity (non-GAAP) 18.08  % 16.91  % 20.08  % 17.50  % 19.42  %

wsfs_corp2.jpg
 WSFS Bank Center WSFS Bank Place
22
500 Delaware Avenue 1818 Market Street
Wilmington, DE 19801 Philadelphia, PA 19103
Non-GAAP Reconciliation - continued (o): Three months ended Six months ended
June 30, 2025 March 31, 2025 June 30, 2024 June 30, 2025 June 30, 2024
Calculation of PPNR:
Net income (GAAP) $ 72,221  $ 65,867  $ 69,208  $ 138,088  $ 134,931 
Plus: Income tax provision 23,319  21,101  21,257  44,420  42,459 
Plus: Provision for credit losses 12,621  17,350  19,814  29,971  34,952 
PPNR (non-GAAP) $ 108,161  $ 104,318  $ 110,279  $ 212,479  $ 212,342 
Plus/(less): Pre-tax adjustments: Realized gain on equity investments, net, Visa derivative valuation adjustment, FDIC special assessment, and corporate development and restructuring expense (347) 319  (5,789) (28) (3,713)
Core PPNR (non-GAAP) $ 107,814  $ 104,637  $ 104,490  $ 212,451  $ 208,629 
EX-99.2 3 a2q25supplement72425vf.htm EX-99.2 a2q25supplement72425vf
1 WSFS Financial Corporation 2Q 2025 Earnings Release Supplement July 2025 Exhibit 99.2

 
2 Forward Looking Statements & Non-GAAP Trade names, trademarks and service marks of other companies appearing in this presentation are the property of their respective holders. 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 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 significant risks and uncertainties (which change over time) and other factors, including volatile market conditions and uncertain 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 potential recessionary and other unfavorable conditions and trends related to housing markets, costs of living, unemployment levels, 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, 2024, and Form 10-Q for the quarter ended March 31, 2025, 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 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 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 non-GAAP measures to their comparable GAAP measures, see the Appendix.

 
3 Financial Highlights • Core ROA of 1.38%, up 9bps QoQ, and Core PPNR of $107.8mm, up 3% QoQ • Core Fee Revenue1 of $88.0mm; up 9% QoQ and up 2% YoY • Wealth and Trust up 17% YoY • NIM of 3.89%, up 1bp QoQ, reflecting deposit repricing actions and continued wholesale funding optimization, partially offset by lower loan yields primarily due to the Upstart sale • NIM grew 4bps YoY while absorbing 100bps of interest rate declines • Returned $149.9mm of capital to shareholders YTD, including $131.5mm from share repurchases • Announced the sale of $98.1mm of Upstart loans, which accelerates the disposition of this runoff portfolio 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 Appendix for reconciliation to GAAP financial information. 2 This constitutes net income attributable to WSFS; excludes net income attributable to noncontrolling interest 3 Tax-equivalent 4 Reflects ACL on loans and leases over the amortized cost of the total portfolio 5 Capital ratios reflect corporate-level metrics Reported Core1 $ in millions (except per share amounts) 2Q25 1Q25 2Q24 2Q25 1Q25 2Q24 EPS $1.27 $1.12 $1.16 $1.27 $1.13 $1.08 ROA 1.39% 1.29% 1.34% 1.38% 1.29% 1.25% Net Income2 $72.3 $65.9 $69.3 $72.1 $66.1 $64.8 PPNR1 $108.2 $104.3 $110.3 $107.8 $104.6 $104.5 ROTCE1 18.08% 16.91% 20.08% 18.03% 16.97% 18.83% NIM3 3.89% 3.88% 3.85% 3.89% 3.88% 3.85% Fee Revenue $ $88.0 $80.9 $91.6 $88.0 $80.9 $86.0 Fee Revenue %3 32.8% 31.5% 34.4% 32.8% 31.5% 33.0% Efficiency Ratio 59.5% 59.2% 58.5% 59.6% 59.0% 59.8% ACL Ratio4 1.43% 1.43% 1.51% 1.43% 1.43% 1.51% CET15 14.07% 14.10% 13.29% 14.07% 14.10% 13.29%

 
4 Net Interest Margin Trends 3.89% NIM reflects continued deposit repricing actions, partially offset by lower loan yields 1 Includes noninterest and interest-bearing; interest-bearing deposits include demand, money market, savings, and time deposits 2 Average total loans yield excludes PAA 3 Deposit betas are based on cumulative client deposit costs for the down-cycle rate (September 2024 start); assumes Fed Funds of 4.50% 4 Betas are the average of the last month in a respective quarter 2Q25 NIM up 1bp QoQ to 3.89% • Reduced total funding cost by 9bps, driven by 8bps decline in total client deposit cost during 2Q • Client deposit cost of 1.63% • Client deposit costs decreased primarily due to increase in noninterest deposits as well as continued deposit repricing 38% 43% 27% 36% 0% 15% 30% 45% 60% 1Q25 2Q25 Interest-Only Total Down-cycle Deposit Betas3,4 1.89% 1.95% 1.83% 1.71% 1.63% 2.09% 2.15% 1.92% 1.77% 1.68% 7.03% 7.01% 6.72% 6.60% 6.54% 2.0% 3.2% 4.4% 5.6% 6.8% 8.0% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 2Q24 3Q24 4Q24 1Q25 2Q25 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 Average Deposit Cost and Loan Yield 1 2 3.80% 3.88% 3.89% 3.25% 3.45% 3.65% 3.85% 4.05% 4Q24 1Q25 2Q25 Net Interest Margin

 
5 Loan Portfolio Highlights C&I loans up 7% quarter-over-quarter annualized; strong momentum in Mortgage and WSFS Consumer loans 1 Includes new loans, existing new funding, in process, and net line activity. Excludes reclasses, HFS, purchase accounting mark/unearned changes, and Commercial leases 2 C&I loans includes owner-occupied real estate ($ in millions) Jun 2025 Mar 2025 Jun 2024 QoQ $ Growth Annualized % Growth YoY $ Growth % Growth C & I Loans2 $4,731 $4,651 $4,599 $80 7% $132 3% Commercial Mortgages (CRE) 3,911 3,982 4,035 (71) (7%) (124) (3%) Construction Loans 858 869 879 (11) (5%) (21) (2%) Commercial Leases 630 636 644 (6) (4%) (14) (2%) Total Commercial Loans $10,130 $10,138 $10,157 ($8) (0%) ($27) (0%) Residential Mortgage (HFS/HFI) 1,016 992 936 24 10% 80 9% Consumer Loans - WSFS 959 907 861 52 23% 98 11% Consumer Loans - Partnership 1,047 1,126 1,245 (79) (28%) (198) (16%) Total Gross Loans $13,152 $13,163 $13,199 ($11) (0%) ($47) (0%) EOP Loans - QoQ and YoY Commercial: • Line utilization of 37.6%, down from 38.1% prior quarter • 90-day weighted average pipeline remains stable at ~$260mm (higher than PY levels) Consumer: • Residential mortgage and WSFS-originated consumer loans grew 16% QoQ annualized • HELOC balances grew 8% QoQ, driven by significant uptick in originations in the newly combined Home Lending business $146 $143 $162 $143 $217 $113 $66 $60 $43 $29 $143 $113 $118 $108 $160 $402 $321 $340 $295 $406 - $50 $100 $150 $200 $250 $300 $350 $400 $450 2Q24 3Q24 4Q24 1Q25 2Q25 C&I CRE Construction Commercial Loans: New Fundings ($mm)1

 
6 Deposit Highlights • $242mm (6% annualized) increase in ending client deposits QoQ • Driven by noninterest deposit growth in Trust, partially offset by declines in Commercial and seasonal municipal deposits • $830mm (5%) increase in ending client deposits YoY, driven by growth within Trust, Consumer, and Commercial • 51% of average client deposits are coming from Commercial, Small Business, and Wealth and Trust Strong growth in total and noninterest deposit balances while driving repricing actions Consumer 48% Commercial 24% Small Business 11% Trust 11% Wealth 5% Other 1% Average Client Deposits By Business Line 12% 13% 12% 12% 12% 41% 40% 40% 41% 40% 17% 17% 17% 17% 16% 30% 30% 31% 30% 32% 0% 20% 40% 60% 80% 100% 2Q24 3Q24 4Q24 1Q25 2Q25 Noninterest Interest-bearing Savings/MM Time Average Total Client Deposit Mix ($ in millions) Jun 2025 Mar 2025 Jun 2024 QoQ $ Growth Annualized % Growth YoY $ Growth % Growth Noninterest Demand $5,306 $4,947 $4,783 $359 29% $523 11% Interest-bearing Demand 2,806 2,882 2,812 (76) (11%) (6) (0%) Savings 1,452 1,463 1,537 (11) (3%) (85) (6%) Money Market 5,471 5,487 5,175 (16) (1%) 296 6% Total Core Deposits $15,035 $14,779 $14,307 $256 7% $728 5% Time Deposits 2,086 2,100 1,984 (14) (3%) 102 5% Total Client Deposits $17,121 $16,879 $16,291 $242 6% $830 5% EOP Deposits by Product - QoQ and YoY

 
7 $17 $17 $20 $31 $24 $24 $38 $40 $44 $86 $81 $88 $- $10 $20 $30 $40 $50 $60 $70 $80 $90 $100 2Q24 1Q25 2Q25 Co re F ee R ev en ue ($ m m ) Banking Cash Connect Wealth and Trust2 Core Fee Revenue1 32.8% Core Fee Revenue ratio1 driven by strong performance 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 Appendix for reconciliation to GAAP financial information. 2 Banking includes deposit service charges, SBA loan sales, loan and lease fees, credit and debit revenue, capital markets, mortgage, and other banking related fees ® Core fee revenue up 9% QoQ and up 2% YoY Wealth and Trust (+17% YoY) Bryn Mawr Trust® 37% BMT of DE 18% WSFS Institutional Services 45% Institutional Services up 39% YoY as Corporate Trust grew new accounts, captured market share, and drove higher deal flow Private Wealth Management up 2% YoY as tax services and market-related appreciation were partially offset by outflows associated with client spending Bryn Mawr Trust of Delaware up 7% YoY due to new accounts and higher volume

 
8 10.86% 10.24% 12.77% 8.62% 3.21% 0.80% 3.09% 1.81% 14.07% 11.04% 15.86% 10.43% 0% 4% 8% 12% 16% CET1 Leverage TRBC TCE Effective AOCI Well-capitalized Reported ($9.29) $30.32 ($20) ($10) $0 $10 $20 $30 $40 2Q21 4Q21 2Q22 4Q22 2Q23 4Q23 2Q24 4Q24 2Q25 TBV3 and AOCI per Share AOCI/share TBV/share Capital All capital ratios remain significantly above “well-capitalized” 2Q25 Capital Ratios including Effective AOCI Impact1,2,3 1 Effective AOCI ($625.1mm) includes AFS and unrecognized fair value of HTM as of June 30, 2025; reported AOCI of ($522.2mm) 2 Capital ratios reflect corporate-level metrics 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 Appendix for reconciliation to GAAP financial information 2 • Tangible book value (TBV) of $30.32 per share includes a negative impact of $9.29 per share related to Reported AOCI1 • 20% YoY growth in TBV per share • Effective AOCI represents the impact of a full liquidation of the investment portfolio • TCE of 10.43% when considering Effective AOCI 3

 
9 $36.7 $35.8 $18.4 $51.8 $95.4 $131.5 $88.5 $131.2 $149.9 $0.0 $25.0 $50.0 $75.0 $100.0 $125.0 $150.0 $175.0 $200.0 2023 2024 YTD25 M ill io ns Dividend Repurchases Medium-Term Operating Target 12.22% 13.17% 13.81% 14.10% 14.07% 0% 2% 4% 6% 8% 10% 12% 14% 16% 2022 2023 2024 1Q25 2Q25 Capital Return Framework Repurchased 1.6mm shares or 2.7% of outstanding shares in 2Q25 Total Capital Returned to ShareholdersCET1 Trend1 1 Capital ratios reflect corporate-level metrics CET1 medium-term target of ~12% >100% of YTD net income returned to shareholders

 
10 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 Weighted average duration and yield 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 Appendix for reconciliation to GAAP financial information 4 Effective AOCI ($625.1mm) AFS and unrecognized fair value of HTM as of June 30, 2025; assumes all securities, including HTM, are sold at market prices • Targeting 18% - 20% of total assets over time • Forecasting P&I cash flows of $1bn+ over the next 24 months • Anticipated cash flows could fund ~3.5% annualized loan growth • Reported AOCI improved $27.3mm or 5.0% quarter-over-quarter Investments Investment Portfolio1 $4.49bn % of Total Assets 22% Portfolio Duration2 6.2yrs Portfolio Yield2 2.37% Agency MBS/Notes % >95% Reported AOCI ($522.2mm) Effective AOCI3,4 ($625.1mm) AFS Agency MBS Agency CMOs GNMA MBS/CMOs Agency Debent. HTM Agency MBS Munis $3.49bn $1.00bn $643 $500 $625 $549 $522 $0 $150 $300 $450 $600 $750 2Q24 3Q24 4Q24 1Q25 2Q25 M ill io ns Reported AOCI Trend

 
11 $160 $170 $180 $190 $200 $210 3/31/2025 Net Loan Growth (ex. Upstart) Specific Reserves Upstart Forecast/ Migration/ Other 6/30/2025 ACL Ratio 2Q 2025 ACL ($mm) $186 1 Reflects ACL on loans and leases over the amortized cost of the total portfolio 2 This is a 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 Appendix for reconciliation to GAAP financial information Loan & Leases ACL Overview ACL and Coverage Ratio by Segment 2Q 2025 ACL Commentary 1.43% • ACL coverage ratio1 of 1.43%; 1.56% including estimated remaining credit mark on acquired loan portfolios2 • Coverage ratio flat QoQ; runoff and sale of Upstart portfolio offset by additional reserves in two previously identified nonperforming loans • FY GDP forecast of 1.5% in 2025 and 1.8% in 20263 • FY Unemployment forecast of 4.3% in 2025 and 4.4% in 202631.43% 1.33% 1.70% 1.43% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 2Q21 2Q22 2Q23 2Q24 2Q25 ACL % By Portfolio and Total1 Commercial Consumer and Leasing Total ACL%5 3 Source: Oxford Economics as of June 2025 4 Hotel loan balances are included in the C&I and Construction segments 5 Commercial excludes Leasing $188 $5 $6 ($11) ($2) ($ millions) $ % $ % $ % C&I4 $56.5 2.14% $50.7 1.90% $52.1 1.90% Owner Occupied - R/E $9.7 0.50% $8.4 0.43% $8.6 0.44% CRE Investor $46.8 1.16% $49.8 1.25% $54.8 1.40% Construction4 $9.2 1.05% $9.7 1.12% $10.7 1.25% Resi Mortgage $5.1 0.56% $5.7 0.59% $5.8 0.60% Leases $16.2 2.51% $17.1 2.69% $18.3 2.90% HELOC & HEIL $9.2 1.29% $10.3 1.34% $11.5 1.41% Consumer Partnerships $42.8 3.44% $33.1 2.93% $21.7 2.26% Other $2.8 1.88% $2.7 1.95% $2.8 2.03% TOTAL $198.3 1.51% $187.5 1.43% $186.3 1.43% June 30, 2024 March 31, 2025 June 30, 2025

 
12 $39 $50 $77 $85 $87 $38 $84 $29 $43 $54 $12 $14 $16 $20 $17 $89 $148 $122 $148 $158 0.68% 1.11% 0.92% 1.13% 1.22% 0.00% 0.30% 0.60% 0.90% 1.20% $0 $50 $100 $150 $200 $250 2Q24 3Q24 4Q24 1Q25 2Q25 M ill io ns Non-accruing Accruing Govt. Guaranteed Ed. % of Gross Loans Asset Quality Metrics1 Problem Assets Nonperforming Assets (NPA) Delinquencies (DLQ) Net Charge-offs (NCO) $629 $722 $645 $684 $683 4.76% 5.40% 4.87% 5.19% 5.19% 0.0% 1.2% 2.4% 3.6% 4.8% 6.0% $300 $400 $500 $600 $700 $800 2Q24 3Q24 4Q24 1Q25 2Q25 M ill io ns Problem Assets % of Gross Loans $9 $14 $6 $21 $4 $1 $1 $1 $1 $5 $4 $4 $3 $5 0.44% 0.58% 0.31% 0.76% 0.30% 0.00% 0.20% 0.40% 0.60% 0.80% $0 $7 $14 $21 $28 $35 2Q24 3Q24 4Q24 1Q25 2Q25 M ill io ns Commercial Consumer Upstart % of Avg. Gross Loans $65 $91 $127 $117 $106 0.32% 0.44% 0.61% 0.57% 0.51% 0.0% 0.1% 0.2% 0.3% 0.4% 0.5% 0.6% 0.7% $0 $25 $50 $75 $100 $125 $150 2Q24 3Q24 4Q24 1Q25 2Q25 M ill io ns Nonperforming Assets % of Total Assets • NPA: Decreased 6bps QoQ • Driven by the payoff of a C&I loan with no additional losses • DLQ: Increased 9bps QoQ • Accruing DLQ increased by $10mm, of which $6mm from one relationship was fully paid-off in July • NCO: Decreased 46bps QoQ • 14bps NCO when excluding the Upstart portfolio, which was largely divested in July • Commercial excluding NewLane was <1bp 2Q 2025 Performance 1 Excludes impacts from accounts receivable 2 Includes fully government guaranteed and 98% government guaranteed student loans 3 Includes NewLane 4 Average gross loans net of unearned income, excluding loans held-for-sale 3 4 2 <$1

 
13 Original FY Outlook1 +/-1.25% Mid-single digit growth in Commercial; Consumer flat Low-single digit growth +/-3.80% Mid-single digit growth; double-digit in Wealth & Trust 0.35% - 0.45%; ~5bps related to Upstart +/-60% Updated FY Outlook1 +/-1.30% Low-single digit Commercial; Consumer flat excluding Upstart Low-single digit growth +/-3.85% Low-single digit growth; double-digit in Wealth & Trust 0.35% - 0.45% (Excluding all Upstart impacts) +/-60% 2025 Core Outlook - Update ROA2 Loan Growth Deposit Growth Net Interest Margin Fee Revenue Growth Net Charge-offs Efficiency Ratio 1 The Company is not able to reconcile the forward-looking non-GAAP estimates set forth above to their most directly comparable GAAP estimates without unreasonable efforts because it is unable to predict, forecast or determine the probable significance of the items impacting these estimates with a reasonable degree of accuracy 2 24% effective tax rate assumed; unchanged from original outlook Assumed one 25bp rate cut in June and FY GDP growth of 2.6% in 2025 Assumes two 25bp rate cuts (Sept and Dec) and FY GDP growth of 1.5% in 2025

 
14 Non-GAAP Financial Information Appendix:

 
15 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 gains on equity investments, net, Visa derivative valuation adjustment, FDIC special assessment, 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 gains on equity investments, net, and Visa derivative valuation adjustment; • 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 FDIC special assessment, 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 on equity investments, net, Visa derivative valuation adjustment, FDIC special assessment, 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.

 
16 Appendix: Non-GAAP Financial Information Three Months Ended (dollars in thousands) June 30, 2025 March 31, 2025 June 30, 2024 Net interest income (GAAP) $ 179,495 $ 175,216 $ 174,449 Core net interest income (non-GAAP) $ 179,495 $ 175,216 $ 174,449 Noninterest income (GAAP) $ 88,009 $ 80,897 $ 91,598 Less: Realized gain on sale of equity investment, net 18 — 2,130 Less: Visa derivative valuation adjustment — — 3,434 Core fee revenue (non-GAAP) $ 87,991 $ 80,897 $ 86,034 Core net revenue (non-GAAP) $ 267,486 $ 256,113 $ 260,483 Core net revenue (non-GAAP) (tax- equivalent) $ 267,972 $ 256,568 $ 260,900 Noninterest expense (GAAP) $ 159,343 $ 151,795 $ 155,768 Plus: FDIC special assessment — — (383) (Plus)/less: Corporate development expense (329) 59 158 Less: Restructuring expense — 260 — Core noninterest expense (non-GAAP) $ 159,672 $ 151,476 $ 155,993 Core efficiency ratio (non-GAAP) 59.6 % 59.0 % 59.8 % Core fee revenue ratio (non-GAAP)(tax- equivalent) 32.8 % 31.5 % 33.0 % Three Months Ended (dollars in thousands, except per share data) June 30, 2025 March 31, 2025 June 30, 2024 Calculation of tangible common equity ratio: Total Assets (GAAP) $ 20,763,292 $ 20,548,950 $ 20,744,530 Less: Goodwill and other intangible assets 977,546 983,882 996,181 Total tangible assets (non-GAAP) $ 19,785,746 $ 19,565,068 $ 19,748,349 Total stockholders’ equity of WSFS (GAAP) $ 2,682,728 $ 2,671,614 $ 2,489,580 Less: Goodwill and other intangible assets 977,546 983,882 996,181 Total tangible common equity (non-GAAP) $ 1,705,182 $ 1,687,732 $ 1,493,399 Equity to asset ratio (GAAP) 12.92 % 13.00 % 12.00 % Tangible common equity to tangible assets ratio (non-GAAP) 8.62 % 8.63 % 7.56 % Three Months Ended (dollars in thousands) June 30, 2025 Calculation of effective AOCI: Unrealized losses on AFS securities ​ $ 445,065 Unrealized losses on securities transferred from AFS to HTM 69,950 Unrecognized fair value on HTM securities 110,080 Effective AOCI (non-GAAP) $ 625,095 Calculation of coverage ratio including the estimated remaining credit marks: Coverage ratio 1.43 % Plus: Estimated remaining credit marks on the acquired loan portfolios 0.13 Coverage ratio including the estimated remaining credit marks (non-GAAP) 1.56 %

 
17 Appendix: Non-GAAP Financial Information Three Months Ended (dollars in thousands, except per share data) June 30, 2025 March 31, 2025 June 30, 2024 GAAP net income attributable to WSFS $ 72,326 $ 65,896 $ 69,273 Plus/(less): Pre-tax adjustments1 (347) 319 (5,789) (Plus)/less: Tax impact of pre-tax adjustments 149 (78) 1,273 Adjusted net income (non-GAAP) attributable to WSFS $ 72,128 $ 66,137 $ 64,757 Net income (GAAP) $ 72,221 $ 65,867 $ 69,208 Plus: Income tax provision 23,319 21,101 21,257 Plus: Provision for credit losses 12,621 17,350 19,814 PPNR (Non-GAAP) 108,161 104,318 110,279 Plus/(less): Pre-tax adjustments1 (347) 319 (5,789) Core PPNR (Non-GAAP) $ 107,814 $ 104,637 $ 104,490 GAAP return on average assets (ROA) 1.39 % 1.29 % 1.34 % Plus/(less): Pre-tax adjustments1 (0.01) 0.01 (0.11) (Plus)/less: Tax impact of pre-tax adjustments — (0.01) 0.02 Core ROA (non-GAAP) 1.38 % 1.29 % 1.25 % Earnings per share (diluted)(GAAP) $ 1.27 $ 1.12 $ 1.16 Plus/(less): Pre-tax adjustments1 (0.01) 0.01 (0.10) (Plus)/less: Tax impact of pre-tax adjustments 0.01 — 0.02 Core earnings per share (non-GAAP) $ 1.27 $ 1.13 $ 1.08 1 Pre-tax adjustments include realized gain on equity investments, net, Visa derivative valuation adjustment, FDIC special assessment, and corporate development and restructuring expense

 
18 Appendix: Non-GAAP Financial Information Three Months Ended Three Months Ended (dollars in thousands) June 30, 2025 March 31, 2025 June 30, 2024 June 30, 2025 March 31, 2025 June 30, 2024 Calculation of return on average tangible common equity: Calculation of core return on average tangible common equity: GAAP net income attributable to WSFS​ $ 72,326 $ 65,896 $ 69,273 Adjusted net income (non-GAAP) attributable to WSFS​ $ 72,128 $ 66,137 $ 64,757 Plus: Tax effected amortization of intangible assets​ 2,946 2,945 3,007 Plus: Tax effected amortization of intangible assets​ 2,946 2,945 3,007 Net tangible income (non-GAAP)​ $ 75,272 $ 68,841 $ 72,280 Core net tangible income (non-GAAP)​ $ 75,074 $ 69,082 $ 67,764 Average stockholders' equity of WSFS​ $ 2,652,257 $ 2,637,354 $ 2,446,371 Net average tangible common equity​ $ 1,669,724 $ 1,650,616 $ 1,447,432 Less: Average goodwill and intangible assets​ 982,533 986,738 998,939 Core return on average equity (non-GAAP) 10.91 % 10.17 % 10.65 % Net average tangible common equity​ $ 1,669,724 $ 1,650,616 $ 1,447,432 Core return on average tangible common equity (non-GAAP) 18.03 % 16.97 % 18.83 % Return on average equity (GAAP) 10.94 % 10.13 % 11.39 % Return on average tangible common equity (non-GAAP) 18.08 % 16.91 % 20.08 %

 
19 Appendix: Non-GAAP Financial Information (dollars in thousands, except per share data) June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 September 30, 2023 June 30, 2023 Calculation of tangible common book value per share: Total stockholders’ equity of WSFS (GAAP) $ 2,682,728 $ 2,671,614 $ 2,589,752 $ 2,678,264 $ 2,489,580 $ 2,473,481 $ 2,477,636 $ 2,242,795 $ 2,314,659 Less: Goodwill and other intangible assets 977,546 983,882 988,160 992,163 996,181 1,000,344 1,004,560 1,008,472 1,004,278 Total tangible common equity (non-GAAP) 1,705,182 1,687,732 1,601,592 1,686,101 1,493,399 1,473,137 1,473,076 1,234,323 1,310,381 Shares outstanding (000s) 56,235 57,693 58,657 59,033 59,261 60,084 60,538 60,728 61,093 Tangible common book value per share (non-GAAP) $ 30.32 $ 29.25 $ 27.30 $ 28.56 $ 25.20 $ 24.52 $ 24.33 $ 20.33 $ 21.45 (dollars in thousands, except per share data) March 31, 2023 December 31, 2022 September 30, 2022 June 30, 2022 March 31, 2022 December 31, 2021 September 30, 2021 June 30, 2021 Calculation of tangible common book value per share: Total stockholders’ equity of WSFS (GAAP) $ 2,306,362 $ 2,205,113 $ 2,103,593 $ 2,315,360 $ 2,520,463 $ 1,939,099 $ 1,908,895 $ 1,884,054 Less: Goodwill and other intangible assets 1,008,250 1,012,232 1,016,413 1,019,857 1,032,189 547,231 549,352 551,951 Total tangible common equity (non-GAAP) 1,298,112 1,192,881 1,087,180 1,295,503 1,488,274 1,391,868 1,359,543 1,332,103 Shares outstanding (000s) 61,387 61,612 61,949 63,587 64,735 47,609 47,548 47,535 Tangible common book value per share (non-GAAP) $ 21.15 $ 19.36 $ 17.55 $ 20.37 $ 22.99 $ 29.24 $ 28.59 $ 28.02

 
20 Appendix: Non-GAAP Financial Information As of March 31, (dollars in thousands) 2025 Calculation of adjusted common equity Tier 1 capital: Common equity tier 1 capital (GAAP) $ 2,254,661 Less: Effective AOCI (non-GAAP) 625,095 Adjusted common equity tier 1 capital (non-GAAP) $ 1,629,566 Risk Weighted Assets (GAAP) $ 16,026,496 Less: Debt securities 1,016,245 Adjusted Risk Weighted Assets (non-GAAP) $ 15,010,251 Common equity Tier 1 capital (GAAP) 14.07 % Adjusted common equity Tier 1 capital ratio (non-GAAP) 10.86 % Calculation of adjusted Tier 1 leverage: Tier 1 capital (GAAP) $ 2,254,661 Less: Effective AOCI (non-GAAP) 625,095 Adjusted Tier 1 capital (non-GAAP) $ 1,629,566 Average assets (Corp) (GAAP) $ 20,428,926 Less: Average debt securities 4,515,211 Adjusted average assets (non-GAAP) $ 15,913,715 Tier 1 leverage (GAAP) 11.04 % Adjusted Tier 1 leverage (non-GAAP) 10.24 % As of March 31, (dollars in thousands) 2025 Calculation of adjusted total risk-based capital: Total risk-based capital (GAAP) $ 2,541,461 Less: Effective AOCI (non-GAAP) 625,095 Adjusted total risk-based capital (non-GAAP) $ 1,916,366 Risk Weighted Assets (GAAP) $ 16,026,496 Adjusted Risk Weighted Assets (non-GAAP) 15,010,251 Total risk-based capital (GAAP) 15.86 % Adjusted total risk-based capital ratio (non-GAAP) 12.77 % Calculation of adjusted tangible common equity to tangible assets ratio (non-GAAP): Total tangible assets (non-GAAP) $ 19,785,746 Less: Investment securities, AFS & HTM 4,489,123 Total adjusted tangible assets (non-GAAP) $ 15,296,623 Total tangible common equity (non-GAAP) $ 1,705,182 Less: Unrecognized fair value on HTM securities 110,080 Total adjusted tangible common equity (non-GAAP) $ 1,595,102 Tangible common equity to tangible assets ratio (non-GAAP) 8.62 % Tangible common equity to tangible assets ratio including effective AOCI (non-GAAP) 10.43 %