Slide 1: WSFS Financial Corporation Investor Overview
WSFS Financial Corporation Investor Overview August 2024 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? Delivering top-quintile financial performance 1 Commitment to long-term sustainable high performance: 4 Significant franchise investments: • Core ROA ranked 78th percentile in 2022, 80th percentile • Technology – Salesforce© CRM, enterprise-wide data in 2023, and 82nd percentile
Slide 4: Uniquely Positioned in Our Market
Uniquely Positioned in Our Market Greater Philadelphia is rich with businesses, talent and wealthy households holding investable assets; our position acts as a further catalyst for our relationship-banking and fee revenue success 7th • Centrally located in the MA-NY-PA-MD/DC corridor; #1 mega-region
Slide 5: Performance Highlights
Performance Highlights Consistent quality earnings while growing the franchise and maintaining capital discipline 1H24 & FY23 WSFS Performance vs. KRX1,2 NIM 90% Loans/Deposits 1H24 Earnings 90% Core Fee Revenue % 1H24 Capital 90% 76% 89% All capital ratios above “well- Reported ROA: 1.31% capitaliz
Slide 6: 2024 Outlook as presented in 2Q 2024 Supplement
2024 Outlook as presented in 2Q 2024 Supplement Focused on delivering sustainable top-quintile financial results and franchise growth Original FY Outlook1 Updated FY Outlook1 Commentary Loan Growth Mid-single digit Mid-single digit Increased market share Driven by broad-based growth partially offset
Slide 7: Investing in the Future
Investing in the Future Talent Business Growth Technology Investing in internal Associates and attracting • Bryn Mawr Capital Management acquired an Technology initiatives are expected to be ~$16 outside talent throughout the franchise with RIA in late-2023 that expands our presence million in 2024,
Slide 8: Franchise Growth & Performance
Franchise Growth & Performance $25.0 Total Assets Core ROA1 2.00% Billions 1.80% 1.63% $20.6 $20.7 $20.0 1.61% $19.9 1.60% Notable Acquisitions 1.38% 2013 – Array Financial (now WSFS 1.41% 1.28% Mortgage®) $15.8 $15.0 1.14% 1.13% $14.3 1.20% 2014 – First National Bank of Wyoming 1.07% 1.21% 2015 – A
Slide 9: Local Knowledge at a National Scale
Local Knowledge at a National Scale Relationship-based banking generates Significant fee revenue is a key differentiator and serves as a growth high margins, resilient deposits, and engine for the franchise and banking products fee opportunities Commercial Private Wealth Management Personal Trust (B
Slide 10: Focused on Relationship-banking
Focused on Relationship-banking Commercial Small Business Consumer Business Commercial NewLane Residential Consumer Consumer Middle Market Banking SBA Lending Banking Real Estate Finance® Mortgage Banking Partnerships Bring a full suite of capabilities • 88 Branches and 579 ATMs Capabilities in trea
Slide 11: Wealth and Trust: Overview
Wealth and Trust: Overview Premier Full-Service National AUA and AUM $100 Wealth and Trust Franchise $84.9 Billions $78.1 $80 $64.5 5th largest wealth business amongst $60 full-service banks under $100 billion in assets1 $34.6 $40 $20.7 $24.2 • Diversified Fee Revenue: $20 • $71.0 million in 1H24, u
Slide 12: Wealth and Trust: PWM and Personal Trust
Wealth and Trust: PWM and Personal Trust 1H 2024 Highlights: Strategic Opportunities: • $44.6 million fee revenue; +10% compared to 1H23 • Under 5% penetration rate of wealthy clients in our footprint; • $51.3 billion AUA and $9.0 billion AUM representing significant growth opportunity • Referral su
Slide 13: Wealth and Trust: Institutional Services
Wealth and Trust: Institutional Services 1H 2024 Highlights: Strategic Opportunities: • $26.4 million fee revenue; +17% compared to 1H231 • Growing at a double-digit revenue pace; multiple asset classes • $24.7 billion AUA; up 18% YTD • Expanding opportunities in payment agent role and CLO market wi
Slide 14: Cash Connect
Cash Connect® Leading National Provider of Cash Strategic Opportunities: Logistics and Services • Double-digit fee revenue growth expected; market share and efficiency gains 1H24 fee revenue of $57.4 million; • Competitively priced product suite along with scale up 50% compared to 1H23 • Improve the
Slide 15: NewLane Finance
NewLane Finance® Small Ticket Commercial Equipment Strategic Goals: Financing (Leasing) • Growth aligned with credit risk environment • Focused on industries with essential ~29,000 small business customers; equipment <1% market penetration in this segment NewLane Lease Balances1 Leasing Originations
Slide 16: Capital and Liquidity
Capital and Liquidity Bank Common Equity Tier 1 (CET1) Common Equity / Total Assets Capital and liquidity ratios $2.4 $3.5 Billions Billions 15% 16% support growth outlook 13.07% $1.8 12% $2.8 12.00% 13% Capital: 9% $2.1 10% • All capital ratios above “Well- $1.2 Capitalized” even considering 6% $1.
Slide 17: Asset Quality
Asset Quality Problem & Classified Loans / Tier 1 + ACL1 Delinquencies2 / Gross Loans1 Proactive and systematic 1.2% approach to asset quality 50% 1.0% 40% 0.8% • Well-reserved with a 1.67% ACL 0.68% coverage ratio when including 27.00% 0.6% 30% estimated remaining credit marks3 0.4% 19.93% • Credit
Slide 18: Appendix: Non-GAAP Information
Appendix: Non-GAAP Information 18
Slide 19: 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 20: Non-GAAP Information
Non-GAAP Information For the year ended As of For the six months ended June 30, December 31, (dollars in thousands, except per share data) June 30, 2024 (dollars in thousands) 2024 2023 2023 Total assets (GAAP) $ 20,744,530 Net interest income (GAAP) $ 349,727 $ 364,374 $ 725,103 Less: Goodwill and
Slide 21: Non-GAAP Information
Non-GAAP Information For the six months For the year ended For the six months For the year ended ended June 30, December 31, ended June 30, December 31, (dollars in thousands, except per share data) 2024 2023 (dollars in thousands, except per share data) 2024 2023 GAAP net income attributable to WSF
Slide 22: Non-GAAP Information
Non-GAAP Information For the year ended December 31, (dollars in thousands) 2013 2014 2015 2016 Net Income (GAAP) $ 46,882 $ 53,757 $ 53,533 $ 64,080 Adj: Plus/(less) core (after-tax)1 (4,290) (4,632) 4,407 4,323 Adjusted net income (non-GAAP) $ 42,592 $ 49,125 $ 57,940 $ 68,403 Average Assets $4,36
Slide 23: 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 Arthur J. Bacci Andrew Basile Ch