Wsfs Financial Corporation · NASDAQ:WSFS
Wsfs Financial — Investor Presentation (May 2025)
30 slides from Wsfs Financial's investor presentation, May 2025
Slide 1: WSFS Financial Corporation Investor Overview
WSFS Financial Corporation Investor Overview May 2025 WHERE THERE’S A WSFS, THERE’S A WAY. 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: Why Invest in WSFS?
Why Invest in WSFS? Focused on long-term sustainable top-quintile financial performance 1 Achieving consistent high performance: 4 Significant Wealth and Trust franchise: • Core ROA ranked 78th percentile in 2022, 80th in 2023, • Contributed 13% of total revenue in 2024 and 75th in 2024 vs. KRX Peer
Slide 4: Franchise Growth & Performance
Franchise Growth & Performance Consistently delivering top-tier performance versus peers while growing the franchise Total Assets Core ROA Rank1,2 100% $25.0 92% Billions 80% 80% $20.6 $20.8 $19.9 80% $20.0 80% 78%3 75% $15.8 $14.3 60% $15.0 $12.3 $10.0 40% $7.2 27% 20% $5.0 $0.0 0% 2018 2019 2020 2
Slide 5: Performance Highlights
Performance Highlights FY24 WSFS Performance vs. KRX1 Across Key Metrics NIM 90% FY24 Earnings Loans/Deposits Core Fee Revenue % 90% 79% Reported ROA: 1.27% Core ROA: 1.26%2 Reported EPS: $4.41 Core EPS of $4.392 Core ROTCE 90% 31% Core Efficiency % Reported ROTCE: 17.91%2 Core ROTCE: 17.83%2 Report
Slide 6: Uniquely Positioned in Our Market
Uniquely Positioned in Our Market Largest locally headquartered bank and wealth franchise in the Greater Philadelphia and Delaware region Centrally located in the MA-NY-PA-MD/DC corridor Philadelphia-Wilmington-Camden MSA1 #1 mega-region globally by economic output Net Deposits Market 2024 Rank Top
Slide 7: Core Fee Revenue Trends
Core Fee Revenue Trends1,2 32% core fee revenue ratio in 2024; double-digit annual fee growth since 2022 $400 Millions 22’-24’ Total CAGR: +14% $350 $336 $300 $283 $257 $148 $250 $133 $200 $181 $125 $162 $169 $150 $138 $63 $44 $50 $115 $41 $100 $56 $82 $51 $41 $43 $51 $50 $66 $78 $75 $76 $68 $73 $67
Slide 8: Local Knowledge Combined with National Scale
Local Knowledge Combined with National Scale Relationship-based banking generates high margins, Significant fee revenue is a key differentiator and serves resilient deposits, and fee opportunities as a growth engine for the franchise and banking products Private Wealth Bryn Mawr Trust of Commercial
Slide 9: Focused on Relationship-Banking
Focused on Relationship-Banking Commercial Banking Small Business Banking Consumer Banking C&I Commercial Corporate Business Banking SBA Lending Consumer Banking Home Lending Banking Real Estate Banking • 88 Branches and 567 ATMs Deep market experience with a full suite of capabilities • $95 million
Slide 10: Wealth and Trust: Overview
Wealth and Trust: Overview 5th largest wealth business amongst AUA and AUM Trend 22’-24’ CAGR: +18% full-service banks under $100 billion in assets1 $120 Billions $100 $89.4 $78.1 Premier full-service national Wealth and Trust franchise $80 $64.5 • Diversified Fee Revenue: $60 $34.6 • $148.1 million
Slide 11: Wealth and Trust: Private Wealth and Personal Trust
Wealth and Trust: Private Wealth and Personal Trust 2024 Highlights: Strategic Opportunities: • $90.0 million fee revenue; +8% compared to 2023 • Under 5% penetration rate of wealthy clients in our footprint; representing • $52.5 billion AUA and $9.2 billion AUM significant growth opportunity • Succ
Slide 12: Wealth and Trust: Institutional Services
Wealth and Trust: Institutional Services 2024 Highlights: Strategic Opportunities: • $58.5 million fee revenue; +18% compared to 20231 • Growing at a double-digit revenue pace • $27.8 billion AUA; up 33% YoY • Expanding opportunities in paying agent role and CLO • Over $1.4 billion in deposits marke
Slide 13: Cash Connect
Cash Connect® 2024 fee revenue of $114.5 million; Strategic Opportunities: up 39% compared to 2023 • Grow profit margin by leveraging pricing and network optimization opportunities • Annual double-digit growth in smart safe units Leading National Provider of Cash Logistics and Services • Streamline
Slide 14: NewLane Finance
NewLane Finance® Leases of $618mm; Strategic Opportunities: up 8% compared to 4Q231 • Building out the sales team to support growth in alignment with the credit risk environment Small Ticket Equipment Financing (Leasing) • Focus on industries widely considered essential NewLane Lease Balances1,2 New
Slide 15: Capital as presented in 1Q 2025 Supplement
Capital as presented in 1Q 2025 Supplement All capital ratios remain above “well-capitalized”; tangible book value impacted by AOCI 1Q25 Capital Ratios including Effective AOCI Impact1,2 TBV and AOCI per Share 15.89% $40 16% 14.10% $29.25 3.22% $30 12% 3.34% 11.17% $20 0.70% 10.53% 1.90% $10 8% 10.7
Slide 16: Capital Return Framework as presented in 1Q 2025 Supplement
Capital Return Framework as presented in 1Q 2025 Supplement Increased quarterly dividend and accelerated share repurchases in 1Q25 • 13% increase ($0.02) to quarterly dividend; now $0.17 per share Total Capital Returned to Shareholders • Additional share repurchase authorization of 10% of outstandin
Slide 17: Asset Quality Trends
Asset Quality Trends Problem & Classified Loans / Tier 1 + ACL1 Delinquencies2 / Gross Loans1 1.5% Proactive and systematic 50% approach to asset quality 1.2% 40% 0.92% 0.9% • Well-reserved with a 1.62% ACL coverage ratio when including 30% 26.21% 0.6% estimated remaining credit marks3 21.40% 20% 0.
Slide 18: Select 1Q 2025 Slides
Select 1Q 2025 Slides Note: Information is from 1Q 2025; unless otherwise noted 18
Slide 19: Loan Portfolio Highlights
Loan Portfolio Highlights Commercial loans flat due to economic uncertainty and muted originations Commercial Portfolio: New Net Loan Fundings ($mm)1 $600 EOP Loans - QoQ and YoY Mar Dec Mar QoQ Annualized YoY % $400 $364 $353 $326 $330 ($ in millions) 2025 2024 2024 $ Growth % Growth $ Growth Growt
Slide 20: Deposit Highlights
Deposit Highlights Continued strong noninterest deposit balances (~30% of total) while driving repricing actions Average Total Customer Deposit Mix EOP Deposits by Product - QoQ and YoY 100% Mar Dec Mar QoQ Annualized YoY % 30% 30% 30% 31% 30% 80% ($ in millions) 2025 2024 2024 $ Growth % Growth $ G
Slide 21: Commercial Loan Composition
Commercial Loan Composition1 Highly diversified C&I, Owner-Occupied, CRE, and Construction Portfolios C&I and Owner-Occupied CRE and Construction $4.7 billion $4.9 billion Concentration Statistics Wholesale Food Trade, 3% • 22 distinct concentration limits2 Services, 5% • All in compliance Professio
Slide 22: CRE and Select Portfolios
CRE and Select Portfolios CRE Portfolio: Volume of Maturing CRE Loans by Industry Portfolio $0.6 10.4% 9.9% 11.3% 10.9% 13.5% • Granular with an average loan balance of $1.2mm Maturity % Billions $0.5 • ~81% of the portfolio effectively has a fixed rate (~35% of the portfolio fixed with ~71% of the
Slide 23: 2025 Outlook as presented in 4Q 2024 Supplement
2025 Outlook as presented in 4Q 2024 Supplement Full-Year Core ROA1 Outlook of +/-1.25%; Continuing to deliver high-performance and growth 2025 Core Outlook1 Mid-single digit growth in Commercial Loan Growth Consumer flat due to Partnership portfolio runoff Deposit Low-single digit growth Growth Bro
Slide 24: Appendix: Non-GAAP Information
Appendix: Non-GAAP Information 24
Slide 25: 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 26: Non-GAAP Information
Non-GAAP Information For the year ended December 31, For the year ended December 31, (dollars in thousands) 2024 2023 (dollars in thousands, except per share data) 2024 2023 Net interest income (GAAP) $ 705,438 $ 725,103 Calculation of return on average tangible common equity: Core net interest inc
Slide 27: Non-GAAP Information
Non-GAAP Information For the year ended December 31, (dollars in thousands) 2018 2019 2020 2021 2022 2023 2024 Noninterest income (as reported) $ 162,541 $ 188,109 $ 201,025 $ 185,480 $ 260,134 $ 289,871 $ 340,920 Adj: Securities gains (21) (333) (9,076) (331) — — — Adj: Realized (gain) loss on sale
Slide 28: Non-GAAP Information
Non-GAAP Information March 31, December 31, September 30, June 30, March 31, December 31, September 30, June 30, March 31, (dollars in thousands, except per share data) 2025 2024 2024 2024 2024 2023 2023 2023 2023 Calculation of tangible common book value per share: Total stockholders’ equity of WSF
Slide 29: Non-GAAP Information
Non-GAAP Information As of March 31, As of March 31, (dollars in thousands) 2025 (dollars in thousands) 2025 Calculation of effective AOCI: Calculation of adjusted total risk-based capital: Unrealized losses on AFS securities $ 467,752 Total risk-based capital (GAAP) $ 2,553,662 Unrealized losses
Slide 30: Stockholders or others seeking information may call or write
Stockholders or others seeking information regarding the Company may call or write: WSFS Financial Corporation Investor Relations WSFS Bank Center 500 Delaware Avenue Wilmington, DE 19801 302-504-9857 stockholderrelations@wsfsbank.com www.wsfsbank.com Rodger Levenson David Burg Andrew Basile Chairma