Wsfs Financial Corporation · NASDAQ:WSFS
Wsfs Financial — Q4 2025 Earnings Presentation
42 slides from Wsfs Financial's earnings presentation, Jan 27, 2026
Slide 1: WSFS Financial Corporation 4Q 2025 Earnings Release Supplement
WSFS Financial Corporation 4Q 2025 Earnings Release Supplement January 2026 1
Slide 2: Forward Looking Statements & Non-GAAP Disclaimers
Forward Looking Statements & Non-GAAP Disclaimers 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, wi
Slide 3: Financial Highlights and Results
Financial Highlights and Results 3
Slide 4: Financial Highlights
Financial Highlights Reported Core1 $ in millions (except per share amounts) 4Q25 FY25 4Q25 YoY Δ FY25 FY Δ • Strong year-over-year growth across key EPS $1.34 $5.09 $1.43 +28.8% $5.21 +18.7% profitability metrics for the quarter and full-year ROA 1.33% 1.36% 1.42% +18bps 1.39% +13bps • Results driv
Slide 5: 4Q 2025 Non-core Adjustments
4Q 2025 Non-core Adjustments 4Q25 Adjustments ($mm) $85.0 Key Items Three non-core items impacting Net Income by $80.0 $5.0mm and EPS by $0.09 $77.7 $1.2 Write-down on an Equity Investment: ($1.8) $1.5 • Total equity investment portfolio of $13.4mm $75.0 $72.7 Visa B Derivative: $4.1 • Increased our
Slide 6: Net Interest Margin Trends
Net Interest Margin Trends NIM of 3.83%, down 8bps QoQ and up 3bps YoY while absorbing 75bps from interest rate cuts Average Deposit Cost and Loan Yield • Loan yields down 24bps QoQ primarily due to lower interest rates 3.5% 8.0% and a one-time interest recovery (5bps) in the prior quarter • Decembe
Slide 7: Loan Portfolio Highlights
Loan Portfolio Highlights Strong 4Q fundings across the Commercial and Consumer portfolios led by 4% QoQ growth in C&I EOP Loans - QoQ and YoY Commercial Fundings and Line Activity ($mm)1 $700 Dec Sept Dec QoQ Annualized YoY % 2025 2025 2024 $ Growth % Growth $ Growth Growth $612 ($ in millions) C &
Slide 8: Deposit Highlights
Deposit Highlights 2% quarter-over-quarter growth in client deposits with 6% quarter-over-quarter growth in noninterest deposits EOP Deposits by Product - QoQ and YoY Average Total Client Deposit Mix 100% Dec Sep Dec QoQ Annualized YoY % 31% 30% 32% 32% 33% 80% ($ in millions) 2025 2025 2024 $ Growt
Slide 9: Core Fee Revenue
Core Fee Revenue 32.4% Core Fee Revenue ratio1 with continued double-digit year-over-year growth in Wealth and Trust $100 Core fee revenue1 up 2% QoQ and up 8% YoY $90 Wealth and Trust (+13% YoY) $88 $90 $83 $80 Institutional Services up 29% YoY due to increased WSFS Institutional agent, custody, an
Slide 10: Capital
Capital All capital ratios remain significantly above “well-capitalized” even when considering Effective AOCI 4Q25 Capital Ratios including Effective AOCI Impact1,2 TBV2 and AOCI per Share $40 15.67% $33.11 16% 13.92% 2.47% $30 2.58% 12% $20 10.59% 10.61% 0.31% 1.92% $10 8% 11.34% 13.20% 10.28% $0 4
Slide 11: Capital Return Framework
Capital Return Framework Repurchased 3.7% of outstanding shares in 4Q251; 9.3% of outstanding shares repurchased year-to-date2 CET1 Trend Total Capital Returned to Shareholders >110% of FY net income returned to shareholders; CET1 medium-term target of ~12% 16% 7% of outstanding shares remain in aut
Slide 12: Asset Quality Metrics
Asset Quality Metrics Problem Assets Nonperforming Assets (NPA) $800 6.0% 0.8% 4Q 2025 Performance Millions Millions 5.19% 5.19% $150 4.87% 4.84% 0.61% 0.57% $700 4.8% 0.6% 4.02% $125 0.51% • Problem Assets: Decreased 82bps QoQ $600 3.6% $100 0.5% • Driven by favorable net migration 0.35% 0.34% $500
Slide 13: Loan & Leases ACL Overview
Loan & Leases ACL Overview 4Q 2025 ACL ($mm) 4Q 2025 ACL Commentary $200 $190 $183 • ACL coverage ratio1 of 1.36%; 1.46% including estimated remaining $180 $180 ($10) ($1) credit mark on acquired loan portfolios2 $12 ($4) $170 • Coverage ratio down 5bps QoQ; partial charge-off of non- accruing loan
Slide 14: Investment Portfolio
Investment Portfolio High-quality investment portfolio providing consistent cash flows and borrowing capacity Investments • Forecasting P&I cash flows of $1bn+ over the next 24 months Investment Portfolio1 $4.51bn % of Total Assets1 21% • Anticipated cash flows could fund ~3.5% annualized loan growt
Slide 15: 2026 Outlook
2026 Outlook1 Full-Year Core ROA Outlook of +/-1.40%; 2026 Outlook Double-digit EPS growth Summary Includes continued buybacks in line with our capital return framework Mid-single digit growth Loan Growth Low-single digit growth in Consumer due to partnership portfolio runoff Mid-single digit growth
Slide 16: WSFS Franchise and Growth Strategy
WSFS Franchise and Growth Strategy 16
Slide 17: The WSFS Franchise
The WSFS Franchise Founded in 1832, WSFS is one of the ten oldest banks in the U.S. Largest independent bank & trust company HQ in Delaware-Greater Philadelphia region • $21.3 billion in assets • $97.4 billion in fiduciary assets, including $9.4 billion in assets under management • 113 offices • One
Slide 18: WSFS Key Strengths
WSFS Key Strengths Focused on long-term sustainable top-quintile financial performance 1 Achieving consistent high performance: 4 Strong balance sheet and liquidity: • Core ROA averaging 1.36% over the past four years, as • Capital ratios significantly above “well-capitalized” well as 1.39% FY’251,2
Slide 19: Unique Market Position
Unique Market Position Largest locally headquartered bank and wealth franchise in the Greater Philadelphia and Delaware region Centrally located in the MA-NY-PA-MD/DC corridor #1 mega-region globally by economic output2 Philadelphia-Wilmington-Camden MSA1 Net Deposits Market Top 10 MSA with over 6 m
Slide 20: Performance Highlights
Performance Highlights 3Q25 YTD WSFS Performance vs. KRX1,2 Across Key Metrics NIM 86% 3Q25 YTD Cost of Core Fee Debt Ratings Revenue % Financial Highlights2 Deposits 92% Moody’s: Reaffirmed 8/2025 73% Reported EPS: $3.75 Baa2 Issuer Rating Core EPS: $3.79 Stable Outlook Reported ROA: 1.37% Mornings
Slide 21: Franchise Growth & Performance
Franchise Growth & Performance Consistently delivering top-tier performance against KRX peers while growing the franchise1 2,3 Total Assets Core ROA 2.00% $25.0 Billions 1.80% $20.8 $21.3 $20.6 $19.9 1.60% $20.0 1.41% 1.38% 1.39% 1.26% $15.8 1.20% $15.0 $10.0 0.80% $5.0 0.40% $0.0 0.00% 2021 2022 20
Slide 22: Core Metrics – 5 Year Trend
Core Metrics – 5 Year Trend Core ROA1,2 Core ROTCE1 2.0% 26.4% 1.6% 21.4% 1.2% 16.4% 1.80% 0.8% 22.48% 1.41% 1.38% 1.39% 11.4% 21.33% 20.37% 1.26% 17.83% 17.96% 0.4% 6.4% 0.0% 2021 2022 2023 2024 2025 1.4% 2021 2022 2023 2024 2025 Core Fee Income %1,3 Net Interest Margin 34.0% 5.0% 32.0% 4.0% 30.0%
Slide 23: Core Fee Revenue Trends
Core Fee Revenue Trends1 32.3% core fee revenue ratio in FY25; double-digit growth in Wealth and Trust $400 22’-25’ Total CAGR: +11% Millions $347 $350 $336 $300 $283 $257 $148 $171 $250 $133 $200 $181 $125 $162 $169 $150 $50 $63 $44 $115 $97 $56 $82 $100 $41 $43 $51 $50 $67 $78 $75 $76 $68 $73 $79
Slide 24: 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 as a resilient deposits, and fee opportunities growth engine for the franchise and banking products Private Wealth Bryn Mawr Trust of Commercial
Slide 25: 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 • 87 Branches and 488 ATMs Deep market experience with a full suite of capabilities • ~$98 millio
Slide 26: Wealth and Trust: Overview
Wealth and Trust: Overview 5th largest wealth business amongst AUA and AUM Trend full-service banks under $100 billion in assets1 $120 22’-25’ CAGR: +15% Billions $97.4 $89.4 Premier full-service national Wealth and Trust franchise $100 $78.1 $80 $64.5 • Diversified Fee Revenue: $60 • $171.4 million
Slide 27: Wealth and Trust: Private Wealth and Personal Trust
Wealth and Trust: Private Wealth and Personal Trust 2025 Highlights: Strategic Opportunities: • $92.2 million fee revenue; up 3% compared to 2024 • Under 5% penetration rate of wealthy clients in our footprint; • $57.8 billion AUA and $9.4 billion AUM representing significant growth opportunity • Su
Slide 28: Wealth and Trust: WSFS Institutional Services
Wealth and Trust: WSFS Institutional Services® 2025 Highlights: Strategic Opportunities: • $78.7 million fee revenue; up 35% compared to 20241 • Growing at an annual double-digit revenue pace • $30.2 billion AUA; up 9% YoY • Expanding opportunities in paying agent role and CLO • $1.8 billion in depo
Slide 29: Cash Connect
Cash Connect® Net Profit Margin 2025 Net Profit Margin of 11.5%1; Strategic Opportunities: 15% up from 1.0% in 2024 • Grow profit margin by leveraging pricing 12% and network optimization opportunities • Annual double-digit growth in smart safe Leading National Provider of Cash Logistics units 9% an
Slide 30: NewLane Finance
NewLane Finance® 4Q25 Portfolio Net Yield of 8.95%; Strategic Opportunities: up 4bps YoY • Building out the sales team to support growth in alignment with the credit risk environment • Focus on industries widely considered essential Small Ticket Equipment Financing (Leasing) Market Opportunity: Leas
Slide 31: Additional Loan Portfolio Information
Additional Loan Portfolio Information 31
Slide 32: Commercial Loan Composition
Commercial Loan Composition1 Highly diversified C&I, Owner-Occupied, CRE, and Construction Portfolios C&I and Owner-Occupied CRE and Construction Concentration Statistics $4.7 billion $4.9 billion Medical • 26 distinct concentration limits2 Wholesale Real Estate Rental and Leasing, 3% Special Use &
Slide 33: CRE and Select Portfolios
CRE and Select Portfolios Volume of Maturing CRE Loans by Industry CRE Portfolio: $0.6 13.2% 13.3% 12.2% 13.6% 12.4% Portfolio Billions Maturity % • Granular with an average loan balance of $1.3mm $0.5 • ~82% of the portfolio effectively has a fixed rate (~35% of the $0.4 portfolio fixed with ~73% o
Slide 34: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures 34
Slide 35: 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 36: Appendix: Non-GAAP Financial Information
Appendix: Non-GAAP Financial Information Three Months Ended For the Year Ended (dollars in thousands) December 31, 2025 September 30, 2025 December 31, 2024 December 31, 2025 December 31, 2024 Net interest income (GAAP) $ 187,353 $ 184,023 $ 178,207 $ 726,087 $ 705,438 Core net interest income (non-
Slide 37: Appendix: Non-GAAP Financial Information
Appendix: Non-GAAP Financial Information Three Months Ended For the Year Ended Nine Months Ended (dollars in thousands, except per share data) December 31, 2025 September 30, 2025 December 31, 2024 December 31, 2025 December 31, 2024 September 30, 2025 GAAP net income attributable to WSFS $ 72,678 $
Slide 38: Appendix: Non-GAAP Financial Information
Appendix: Non-GAAP Financial Information Three Months Ended For the Year Ended Nine Months Ended (dollars in thousands) December 31, 2025 September 30, 2025 December 31, 2024 December 31, 2025 September 30, 2025 Calculation of return on average tangible common equity: GAAP net income attributable to
Slide 39: Appendix: Non-GAAP Financial Information
Appendix: Non-GAAP Financial Information December 31, September 30, March 31, December 31, September 30, March 31, December 31, (dollars in thousands, except per share data) June 30, 2025 June 30, 2024 2025 2025 2025 2024 2024 2024 2023 Calculation of tangible common book value per share: Total stoc
Slide 40: Appendix: Non-GAAP Financial Information
Appendix: Non-GAAP Financial Information As of December 31, As of December 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) $ 2,239,566 Total risk-ba
Slide 41: Appendix: Non-GAAP Financial Information
Appendix: Non-GAAP Financial Information For the year ended December 31, (dollars in thousands) 2021 2022 2023 2024 2025 Net Income (GAAP) $ 271,442 $ 222,375 $ 269,156 $ 263,671 $ 287,350 Adj: Plus/(less) core (after-tax)1 (2,893) 48,310 9,683 (1,219) 6,922 Adj: Plus BMT LD1 initial provision (afte
Slide 42: Appendix: Non-GAAP Financial Information
Appendix: Non-GAAP Financial Information For the Year Ended December 31, (dollars in thousands) 2021 2022 2023 2024 2025 Calculation of return on average tangible common equity: GAAP net income attributable to WSFS $ 271,442 $ 222,375 $ 269,156 $ 263,671 $ 287,350 Plus: Tax effected amortization of