WSFS FINANCIAL CORP

WSFS Financial Corporation announced strong financial results for the second quarter of 2026, with reported diluted EPS of $1.63 and core EPS of $1.66. The company achieved a reported ROA of 1.52% and core ROA of 1.55%. Key drivers included robust growth in client deposits, which rose 3% quarter-over-quarter to $19.004 billion, and a 1% increase in gross loans and leases to $13.501 billion. Fiduciary assets notably surpassed $100 billion, and the company continued its capital return framework by repurchasing $66.2 million in common stock during the quarter and declaring a $0.20 per share dividend.

WSFS Financial Corp's subsidiary, Wilmington Savings Fund Society, FSB, has partnered with U.S. Bank National Association d/b/a Elan Financial Services to issue WSFS-branded credit cards. In conjunction with this partnership, the Bank will sell its credit card portfolio, which had an outstanding book balance of $36.3 million as of May 31, 2026, to Elan. This transaction is expected to result in a gain of approximately $1.7 million and a provision release of about $1.3 million in the second quarter of 2026, with no material impact on future financial results.

WSFS Financial Corp reported a significant increase in net income and EPS for Q1 2026. Net income attributable to WSFS rose by 31.8% to $86.8 million, with basic earnings per share increasing by 45.1% to $1.64. The company also saw growth in net interest income and noninterest income, alongside a release of provision for credit losses. Total assets and deposits also increased compared to the end of 2025.

WSFS Financial Corporation released a supplement to its First Quarter 2026 Earnings Release. This document primarily contains important disclaimers regarding forward-looking statements and the use of non-GAAP financial measures, providing context for the company's financial disclosures. It highlights various risks and uncertainties that could impact future performance.