WSFS Financial (WSFS) investor relations material

Executive summary

• Core EPS was $1.75, up 25% YoY; reported diluted EPS was up 28% YoY. Core ROA was 1.58%, core ROTCE was 20.7%, and NIM was 3.88%.

• Core PPNR and core net income rose 15% and 14% YoY, respectively.

• Gross loans and leases grew 1.2% QoQ, or 5% annualized; Wealth and Trust fees rose 30% YoY.

Financial highlights

• Net income attributable to shareholders was $89.3M, versus $76.4M YoY; net interest income was $196.6M, up $12.6M YoY.

• Core net revenue was $287.6M; core fee revenue was $91.0M, down 1% QoQ and up 3% YoY.

• Core PPNR was $126.1M, versus $109.8M YoY; core expenses fell 3% QoQ and were generally flat YoY.

• Provision for credit losses was $8.4M; noninterest expense was $161.6M, down from $166.3M QoQ.

• Total assets reached $22.1B, up $0.8B from year-end; net loans and leases rose $375.0M to $13.5B.

Outlook and guidance

• Estimated deposit beta is ~35% at the 2026 exit, assuming a December 25-bp rate hike; normalized beta through the increase cycle is expected at 45%–50%.

• Through-cycle loan and deposit growth expectations are mid-single digits; deposit growth is expected to normalize from the 10% YoY core deposit pace.

• Each 25-bp rate increase is expected to add 2–3 bps to NIM, potentially closer to 2 bps amid deposit competition.

• Wealth and Trust's sustained growth goal is double digits; Q3's 30% growth pace is not expected to continue.

• Management expects to finish 2026 strongly; net charge-offs are expected to finish better than prior guidance, with gradual efficiency improvement while funding business investment.