Wsfs Financial Corporation · NASDAQ:WSFS
Wsfs Financial — Debt Investor Presentation (December 2025)
41 slides from Wsfs Financial's debt investor presentation, Dec 9, 2025
Slide 1: WSFS Financial Corporation Fixed Income Presentation December 2025
WSFS Financial Corporation Fixed Income Presentation December 2025
Slide 2: Forward Looking Statements & Non-GAAP Disclaimers
2 Forward Looking Statements & Non - GAAP Disclaimers 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 ot
Slide 3: Table of Contents
3 Page 4 Terms of the Proposed Offering Page 5 WSFS Franchise and Growth Strategy Page 12 Financial Highlights and Trends Page 20 Capital, Liquidity, and Interest Coverage Page 25 Asset Quality and ACL Overview Page 29 Select Lines of Business Page 35 Appendix: Reconciliation of Non - GAAP Financial
Slide 4: Terms of the Proposed Offering
4 Terms of the Proposed Offering 1 A rating is not a recommendation to buy, sell or hold securities. Ratings may be subject to revision or withdrawal at any time by the assigning rating organization. Each rating should be evaluated independently of any other rating WSFS Financial Corporation (NASDAQ
Slide 5: WSFS Franchise and Growth Strategy
WSFS Franchise and Growth Strategy
Slide 6: The WSFS Franchise
6 Note: As of September 30, 2025, unless otherwise stated The WSFS Franchise Commercial (Incl. Capital Markets) Small Business Banking Wealth (Private Wealth Management) Trust (BMT of DE and Institutional) Cash Connect ® Major Business Lines Founded in 1832, WSFS is one of the ten oldest banks in th
Slide 7: WSFS Key Strengths
7 WSFS Key Strengths Focused on long - term sustainable top - quintile financial performance 1 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 the most di
Slide 8: Franchise Growth & Performance
8 1 KRX represents the KBW Nasdaq Regional Bank Index 2 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 the most directly comparable GAAP measure Franchi
Slide 9: Unique Market Position
9 Unique Market Position Largest locally headquartered bank and wealth franchise in the Greater Philadelphia and Delaware region 1 FDIC and S&P Global. Data excludes estimated brokered deposits, credit unions, and non - traditional banks; as of June 30, 2025. Also excludes TD Bank’s 2035 Limestone R
Slide 10: Local Knowledge Combined with National Scale
10 • Logistics services (bailment, armored carrier, and currency) • Cash services (ATM/smart safes, reconciliation, and forecasting) • Trustee and agent services on asset securitizations and debt issuances • Custody/escrow services • Default/bankruptcy trustee Local Knowledge Combined with National
Slide 11: Focused on Relationship-Banking
11 Focused on Relationship - Banking 1 Consumer Banking client deposits 2 Medallia; as of September 30, 2025. Net promotor score (NPS) is a client loyalty and satisfaction measurement 3 Includes owner - occupied Note: Information is as of September 30, 2025, unless otherwise stated Consumer Banking
Slide 12: Financial Highlights and Trends
Financial Highlights and Trends
Slide 13: 3Q25 Financial Highlights
13 $3.27 $3.79 +16% $1.50 $4.00 $1.20 $3.20 $0.90 $2.40 $0.00 $0.80 $1.60 YTD'24 YTD'25 YTD Core EPS 1 3Q25 Financial Highlights 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 Appen
Slide 14: Year-To-Date Performance Highlights
14 Year - To - Date Performance Highlights 1 S&P Global; data for KBW Nasdaq Regional Banking Index (KRX) peers pulled as of November 15, 2025 2 Core Fee Revenue %, Core Efficiency %, Core ROA %, and Core ROTCE are non - GAAP financial measures and should be considered along with results prepared in
Slide 15: Core Metrics – 5 Year Trend
15 Core ROTCE 1 Net Interest Margin Core ROA 1,2 Core Fee Income % 1,3 Core Metrics – 5 Year Trend 1.80% 1.41% 1.38% 1.26% 1.39% 0.0% 0.4% 0.8% 1.2% 1.6% 2.0% 2021 2022 2023 2024 YTD'25 29.4% 27.9% 28.0% 32.2% 32.2% 24.0% 26.0% 28.0% 30.0% 32.0% 34.0% 3.23% 3.71% 4.11% 3.82% 3.89% 0.0% 2021 2022 202
Slide 16: Core Fee Revenue Trends
16 $56 $58 $89 $74 $108 $125 $253 $257 $0 $50 $100 $150 $200 $250 $300 $350 $400 YTD'24 YTD'25 Core Fee Revenue Trends 1 32.2% core fee revenue ratio in YTD’25; double - digit growth in Wealth and Trust $78 $75 $76 $68 $73 $41 $43 $56 $82 $115 $50 $63 $125 $133 $148 $169 $181 $257 $283 $336 $0 $50 $
Slide 17: Balance Sheet Composition
17 Non - interest DDA 31% Money Market & Savings 40% Interest DDA Time 17% 12% Balance Sheet Composition C&I 35% CRE 30% Consumer 15% Residential Mortgage 8% Construction 7% Commercial Leasing 5% Investments 22% Other Assets 8% Cash 8% Net Loans 62% • Investments are composed of high quality, market
Slide 18: Deposit Highlights
18 Deposit Highlights • Average client deposit cost of 1.62% in 3Q25 • 32% of average deposits are noninterest demand • $105mm increase (2% annualized) in ending client deposits QoQ • Driven by seasonal municipal deposit growth in Commercial • $799mm increase (5%) in ending client deposits YoY • Dri
Slide 19: Investment Portfolio
19 Investment Portfolio 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 substitu
Slide 20: Capital, Liquidity, and Interest Coverage
Capital, Liquidity, and Interest Coverage
Slide 21: Capital and Liquidity
21 Capital and Liquidity 0% 3% 6% 9% 12% 15% $0.0 $0.6 $1.2 $1.8 $2.4 3Q20 3Q21 CET1 Capital Billions 3Q22 3Q23 Well - Capitalized 3Q24 3Q25 CET1 Capital Ratio 0% 20% 40% 60% 80% 100% $0 $4 $7 $11 $14 $18 $21 3Q22 3Q23 3Q24 Billions 3Q20 3Q21 Gross Loans 3Q25 L/D Ratio Customer Deposits 4% 7% 10% 13
Slide 22: Capital Return Framework
22 >95% of YTD net income returned to stockholders; 10% of outstanding shares remain in authorization 3 $36.7 $35.8 $27.9 $51.8 $95.4 $178.3 $88.5 $131.2 $206.2 $0.0 $50.0 $100.0 $150.0 $200.0 $250.0 2023 2024 YTD'25 Millions Dividend Repurchases Medium - Term Operating Target 12.22% 13.17% 13.81% 1
Slide 23: Liquidity Highlights
23 Liquidity Highlights Diversified deposits with 71% Insured/Protected balances; Bolstered by significant Wholesale Funding Capacity 1 Total protected deposits accounts for FDIC insured and collateralized/other protected deposits Note: As of September 30, 2025, unless otherwise stated • 71% of clie
Slide 24: Interest Coverage
24 Interest Coverage 1 Reflects issuance of $150 million of Senior Notes at 5.50% and payoff of $150 million of Senior Notes at 2.75% on January 1, 2025 2 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
Slide 25: Asset Quality and ACL Overview
Asset Quality and ACL Overview
Slide 26: Commercial Loan Composition
26 Commercial Loan Composition 1 1 As defined by the North American Industry Classification System (NAICS) 2 Concentration limits are based on relationship exposure, and Tier - 1 + ACL 3 Based on relationship’s outstanding balances Note: As of September 30, 2025, unless otherwise stated Highly diver
Slide 27: Asset Quality Metrics
27 $50 $77 $85 $87 $55 $43 $54 $35 $20 $17 $15 $148 $158 $105 1.11% 0.92% $148 $122 $14 $16 $29 $84 0.81% Delinquencies (DLQ) 1.22% 1.13% 0.00% 0.30% 0.60% 0.90% 1.20% $0 $50 $100 $150 $200 $250 3Q24 4Q24 1Q25 2Q25 3Q25 Millions Non - accruing Accruing Asset Quality Metrics Problem Assets Nonperform
Slide 28: Loan & Leases ACL Overview
28 $160 $170 $180 $190 3Q 2025 ACL ($mm) $200 6/30/2025 New Originations Payoffs / Paydowns Forecast / Migration Other 9/30/2025 ACL Ratio $183 Loan & Leases ACL Overview ACL and Coverage Ratio by Segment 3Q 2025 ACL Commentary 1.41% • ACL coverage ratio 1 of 1.41%; 1.53% including estimated remaini
Slide 29: Select Lines of Business
Select Lines of Business
Slide 30: Wealth and Trust: Overview
30 Wealth and Trust: Overview 1 S&P Global; banks and thrifts with greater than $15 million annualized revenue generated from TTM (trailing twelve - month) fiduciary activities and between $5B to $100B in assets; data as of November 15, 2025 2 Excludes intercompany allocations 3 Medallia Note: As of
Slide 31: Wealth and Trust: Private Wealth and Personal Trust
31 Wealth and Trust: Private Wealth and Personal Trust 0 2,000 4,000 6,000 8,000 3Q23 3Q24 Relationships 3Q25 Personal Trust Relationship and Account Growth Accounts Private Wealth Management (PWM) YTD’25 Fee Revenue: $46.0 million Bryn Mawr Trust of Delaware YTD’25 Fee Revenue: $22.9 million Truste
Slide 32: Wealth and Trust: Institutional Services
32 Wealth and Trust: Institutional Services 1 Includes special purpose entity (SPE) revenue 2 First Half 2025 Asset - Backed Alert; activity based on number of deals completed in the year Note: As of September 30, 2025, unless otherwise stated Trustees for U.S. ABS and MBS 2 30.2% 144 $ 76,678 U.S.
Slide 33: Cash Connect
33 Cash Connect ® ~$1.3 billion cash managed Cash Supported ~36,500 non - bank and 524 WSFS • WSFS has significant network in footprint • Support >50 Independent Operators ATMs ~11,600 smart safes (~2,300 clients) • +1,879 smart safes or +19% YoY Smart Safes Armored Carrier Management: • ~8,200 unit
Slide 34: NewLane Finance
34 NewLane Finance® 1 Excludes acquired portfolios Note: End of period balances as of September 30, 2025, and average balances for the three - month period then ended, unless otherwise stated Note: YTD is as of the respective year until September 30 th Strategic Opportunities: • Building out the sal
Slide 35: Appendix: Reconciliation of Non-GAAP Financial Measures
Appendix: Reconciliation of Non - GAAP Financial Measures
Slide 36: Appendix: Non-GAAP Financial Measures
36 36 Appendix: 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). This presentation may include the following non - GAAP measures: • Adjusted Net Income
Slide 37: Appendix: Non-GAAP Financial Measures
37 37 Appendix: Non - GAAP Financial Measures Nine Months Ended Three Months Ended September 30, 2024 September 30, 2025 September 30, 2024 June 30, 2025 September 30, 2025 (dollars in thousands) $ 527,231 $ 538,734 $ 177,504 $ 179,495 $ 184,023 Net interest income (GAAP) $ 527,231 $ 538,734 $ 177,5
Slide 38: Appendix: Non-GAAP Financial Measures
38 38 Appendix: Non - GAAP Financial Measures Nine Months Ended Three Months Ended September 30, 2024 September 30, 2025 September 30, 2024 June 30, 2025 September 30, 2025 (dollars in thousands, except per share data) $ 199,469 $ 214,671 $ 64,435 $ 72,326 $ 76,449 GAAP net income attributable to WS
Slide 39: Appendix: Non-GAAP Financial Measures
39 39 Appendix: Non - GAAP Financial Measures Nine Months Ended Three Months Ended September 30, 2025 September 30, 2024 June 30, 2025 September 30, 2025 (dollars in thousands) Calculation of return on average tangible common equity: $ 214,671 $ 64,435 $ 72,326 $ 76,449 GAAP net income attributable
Slide 40: Appendix: Non-GAAP Financial Measures
40 40 Appendix: Non - GAAP Financial Measures For the nine months ended For the year ended December 31, September 30, 2025 2024 2023 2022 2021 2020 (dollars in thousands) $ 214,671 $ 263,671 $ 269,156 $ 222,375 $ 271,442 $ 114,774 Net Income (GAAP) 1,767 (1,219) 9,683 48,310 (2,893) (18,126) Adj: Pl
Slide 41: Appendix: Non-GAAP Financial Measures
41 41 Appendix: Non - GAAP Financial Measures For the nine months ended For the year ended December 31, September 30, 2025 2024 2023 2022 2021 (dollars in thousands) $ 214,671 $ 263,671 $ 269,156 $ 222,375 $ 271,442 GAAP net income attributable to WSFS 8,756 11,893 11,724 11,752 8,069 Plus: Tax effe
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