Wsfs Financial Corporation · NASDAQ:WSFS
Wsfs Financial — Q2 2025 Earnings Presentation
20 slides from Wsfs Financial's earnings presentation, Jul 25, 2025
Slide 1: WSFS Financial Corporation 2Q 2025 Earnings Release Supplement
WSFS Financial Corporation 2Q 2025 Earnings Release Supplement July 2025 1
Slide 2: Forward Looking Statements & Non-GAAP
Forward Looking Statements & Non-GAAP 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 limita
Slide 3: Financial Highlights
Financial Highlights Reported Core1 • Core ROA of 1.38%, up 9bps QoQ, and Core PPNR of $ in millions (except per share 2Q25 1Q25 2Q24 2Q25 1Q25 2Q24 $107.8mm, up 3% QoQ amounts) • Core Fee Revenue1 of $88.0mm; up 9% QoQ and up 2% YoY EPS $1.27 $1.12 $1.16 $1.27 $1.13 $1.08 • Wealth and Trust up 17%
Slide 4: Net Interest Margin Trends
Net Interest Margin Trends 3.89% NIM reflects continued deposit repricing actions, partially offset by lower loan yields Average Deposit Cost and Loan Yield 2Q25 NIM up 1bp QoQ to 3.89% 3.5% 8.0% • Reduced total funding cost by 9bps, driven by 8bps decline in total client deposit cost during 2Q 7.03
Slide 5: Loan Portfolio Highlights
Loan Portfolio Highlights C&I loans up 7% quarter-over-quarter annualized; strong momentum in Mortgage and WSFS Consumer loans Commercial Loans: New Fundings ($mm)1 EOP Loans - QoQ and YoY Jun Mar Jun QoQ Annualized YoY % $450 ($ in millions) 2025 2025 2024 $ Growth % Growth $ Growth Growth $402 $40
Slide 6: Deposit Highlights
Deposit Highlights Strong growth in total and noninterest deposit balances while driving repricing actions Average Total Client Deposit Mix EOP Deposits by Product - QoQ and YoY 100% Jun Mar Jun QoQ Annualized YoY % 30% 30% 31% 30% 32% 80% ($ in millions) 2025 2025 2024 $ Growth % Growth $ Growth Gr
Slide 7: Core Fee Revenue
Core Fee Revenue1 32.8% Core Fee Revenue ratio1 driven by strong performance in Wealth and Trust $100 Core fee revenue up 9% QoQ and up 2% YoY $88 Wealth and Trust (+17% YoY) $90 $86 $81 $80 WSFS Institutional Services up 39% YoY as Corporate Trust Institutional $70 grew new accounts, captured marke
Slide 8: Capital
Capital All capital ratios remain significantly above “well-capitalized” 2Q25 Capital Ratios including Effective AOCI Impact1,2,3 TBV3 and AOCI per Share 15.86% $40 16% 14.07% $30.32 3.09% $30 12% 3.21% 11.04% $20 0.80% 10.43% 1.81% $10 8% 10.86% 12.77% 10.24% $0 4% 8.62% ($10) ($9.29) 0% ($20) CET1
Slide 9: Capital Return Framework
Capital Return Framework Repurchased 1.6mm shares or 2.7% of outstanding shares in 2Q25 CET1 Trend1 Total Capital Returned to Shareholders CET1 medium-term target of ~12% >100% of YTD net income returned to shareholders 16% $200.0 Millions 13.81% 14.10% 14.07% 14% 13.17% $175.0 12.22% Medium-Term $1
Slide 10: Investment Portfolio
Investment Portfolio High-quality investment portfolio providing consistent cash flows and borrowing capacity Investments • Targeting 18% - 20% of total assets over time Investment Portfolio1 $4.49bn % of Total Assets 22% • Forecasting P&I cash flows of $1bn+ over the next 24 months Portfolio Durati
Slide 11: Loan & Leases ACL Overview
Loan & Leases ACL Overview 2Q 2025 ACL ($mm) $210 2Q 2025 ACL Commentary $200 $188 $186 • ACL coverage ratio1 of 1.43%; 1.56% including estimated remaining $190 $6 credit mark on acquired loan portfolios2 $180 $5 ($11) ($2) $170 • Coverage ratio flat QoQ; runoff and sale of Upstart portfolio offset
Slide 12: Asset Quality Metrics
Asset Quality Metrics1 Problem Assets Nonperforming Assets (NPA) $800 6.0% 0.7% Millions 5.40% Millions 5.19% 5.19% $150 0.61% 4.87% 0.57% $700 4.76% 4.8% 0.51% 0.6% 2Q 2025 Performance $125 0.44% 0.5% $100 • NPA: Decreased 6bps QoQ $600 3.6% 0.4% 0.32% $75 • Driven by the payoff of a C&I loan $500
Slide 13: 2025 Core Outlook - Update
2025 Core Outlook - Update Original FY Outlook1 Updated FY Outlook1 ROA2 +/-1.25% +/-1.30% Mid-single digit growth in Commercial; Low-single digit Commercial; Loan Growth Consumer flat Consumer flat excluding Upstart Deposit Growth Low-single digit growth Low-single digit growth Net Interest Margin
Slide 14: Appendix: Non-GAAP Financial Information
Appendix: Non-GAAP Financial Information 14
Slide 15: Non-GAAP Information
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
Slide 16: Appendix: Non-GAAP Financial Information
Appendix: Non-GAAP Financial Information Three Months Ended Three Months Ended June 30, 2025 March 31, 2025 June 30, 2024 (dollars in thousands, except per share data) June 30, 2025 March 31, 2025 June 30, 2024 (dollars in thousands) Net interest income (GAAP) $ 179,495 $ 175,216 $ 174,449 Calculati
Slide 17: Appendix: Non-GAAP Financial Information
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
Slide 18: Appendix: Non-GAAP Financial Information
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 Calculation of core return on average tangible common equity: common e
Slide 19: Appendix: Non-GAAP Financial Information
Appendix: Non-GAAP Financial Information March 31, December 31, September 30, March 31, December 31, September 30, (dollars in thousands, except per share data) June 30, 2025 June 30, 2024 June 30, 2023 2025 2024 2024 2024 2023 2023 Calculation of tangible common book value per share: Total stockhol
Slide 20: Appendix: Non-GAAP Financial Information
Appendix: Non-GAAP Financial Information As of March 31, As of March 31, (dollars in thousands) 2025 (dollars in thousands) 2025 Calculation of adjusted common equity Tier 1 capital: Calculation of adjusted total risk-based capital: Common equity tier 1 capital (GAAP) $ 2,254,661 Total risk-based ca