WSFS Financial (WSFS) Q2 2026 earnings summary

Executive summary

• Core ROA reached 1.55% (up 17bps YoY) and core EPS was $1.66 (up 31% YoY), driven by 19% core net income growth and 10% core PPNR growth year-over-year.

• Second quarter 2026 delivered strong results with EPS of $1.63 and ROA of 1.52%, driven by growth in loans, deposits, and fee revenue.

• Client deposits grew 3% quarter-over-quarter and 11% year-over-year, led by Institutional Services and Commercial segments.

• Asset quality improved, and capital return continued through dividends and share repurchases, with over 4% of shares repurchased in the first half of 2026.

• Wealth and Trust fees rose 5% quarter-over-quarter and 17% year-over-year.

Financial highlights

• Net interest income rose to $192.5M, up 4% from 1Q 2026 and 7% year-over-year.

• Reported net income for 2Q26 was $84.4 million, up from $72.3M in 2Q 2025.

• Core PPNR was $118.5 million, up 2.7% quarter-over-quarter and 9.9% year-over-year.

• Net interest margin (NIM) was 3.87%, up 4bps quarter-over-quarter and 4bps year-over-year.

• Efficiency ratio improved to 58.3%, down 13bps quarter-over-quarter.

Outlook and guidance

• Updated FY26 outlook projects ROA of 1.50%+, double-digit EPS growth, mid-single digit loan growth, and high-single digit deposit growth.

• Net interest margin expected at +/- 3.85%, with high-single digit fee revenue growth excluding Cash Connect and double-digit growth in Wealth & Trust.

• Net charge-offs forecasted at 0.15%-0.25%, with efficiency ratio in the high 50s.

• Assumes no Fed Funds rate changes for the remainder of the year.

• Full-year outlook reflects momentum from strong first-half results and continued execution of capital return framework.