WSFS Reports 3Q 2026 EPS of $1.75, Reflecting YOY Growth of 28%, ROA of 1.58% and NIM of 3.88%; Wealth and Trust Fees Up 30% YOY

WSFS Reports 3Q 2026 EPS of $1.75, Reflecting YOY Growth of 28%, ROA of 1.58% and NIM of 3.88%; Wealth and Trust Fees Up 30% YOY WILMINGTON, Del.--( BUSINESS WIRE)--WSFS Financial Corporation (Nasdaq: WSFS), the parent company of WSFS Bank, today announced its financial results for the third quarter of 2026.

Selected financial results and metrics are as follows:

(Dollars in millions, except per share data)

3Q 2026

2Q 2026

3Q 2025

Net interest income

196.6

192.5

184.0

Fee revenue

91.0

90.0

86.5

Total net revenue

287.6

282.5

270.5

Provision for credit losses

8.4

5.0

6.6

Noninterest expense

161.6

166.3

163.1

Net income attributable to WSFS

89.3

84.4

76.4

Pre-provision net revenue (PPNR) (1)

126.0

116.2

107.4

Earnings per share (EPS) (diluted)

1.75

1.63

1.37

Return on average assets (ROA) (a)

1.58

1.52

1.44

Return on average equity (ROE) (a)

13.0

12.4

11.3

Fee revenue as % of total net revenue

31.6

31.8

31.9

Efficiency ratio

56.1

58.8

60.2

See “Notes”

GAAP results for the periods shown include items that are excluded from core results. Below is a summary of the financial effects of these items. For additional detail, refer to the Non-GAAP Reconciliation in the back of this press release.

3Q 2026

2Q 2026

3Q 2025

(Dollars in millions, except per share data)

Total

Per share

Total

Per share

Total

Per share

Fee revenue (pre-tax)

—

(2.2

)

(0.04

)

(1.5

)

(0.02

)

Noninterest expense (pre-tax)

0.1

—

0.1

—

0.9

0.01

Income tax impacts

(0.1

)

—

(0.5

)

(0.01

)

(0.6

)

(0.01

)

CEO Commentary and Highlights

Rodger Levenson, Chairman, CEO and President, said, "WSFS continued to perform well in the third quarter with a 25% year-over-year increase in core EPS (2). Our results include an expanded net interest margin, solid loan growth, and continued strong momentum in our Wealth and Trust franchise, which generated year-over-year fee growth of 30%. Additionally, we continued to execute our capital return framework through dividends and share repurchases, repurchasing nearly six percent of outstanding shares (3) in the first three quarters of 2026. We look forward to finishing the year out strong in the fourth quarter, while providing momentum as we enter 2027."

Overall highlights include:

Third Quarter 2026 Discussion of Financial Results

Balance Sheet

The following table summarizes loan and lease balances and composition at September 30, 2026 compared to June 30, 2026 and September 30, 2025:

Loans and Leases

(Dollars in millions)

September 30, 2026

June 30, 2026

September 30, 2025

Commercial & industrial (C&I) (5)

5,014

4,944

4,587

Commercial mortgage

3,885

3,884

3,856

Construction

1,005

1,003

1,004

Commercial small business leases

593

584

617

Total commercial loans and leases

10,497

10,415

10,064

Residential mortgage

1,353

1,271

1,062

Consumer

1,813

1,815

1,897

Gross loans and leases

13,663

101

13,501

101

13,023

101

Allowance for Credit Losses (ACL)

(185

)

(177

)

(183

)

Net loans and leases

13,478

100

13,324

100

12,840

100

At September 30, 2026, WSFS’ gross loan and lease portfolio increased $162.6 million, or 1% (not annualized), when compared with June 30, 2026. Home Lending continued to generate strong performance across both mortgages and home equity, with overall growth of 6%. Commercial loans increased 1%, led by growth in C&I, as well as an increase in commercial small business leases. This growth was partially offset by continued runoff of the Spring EQ portfolio.

Gross loans and leases at September 30, 2026 increased 5% when compared with September 30, 2025. Excluding the impacts from the sale of the credit card portfolio and runoff of Spring EQ, gross loans and leases increased 7%. This growth was driven by increases in residential mortgage (27%), home equity (20%), and C&I (9%), partially offset by a decline in commercial small business leases.

The following table summarizes client deposit balances and composition at September 30, 2026 compared to June 30, 2026 and September 30, 2025:

Client Deposits

(Dollars in millions)

September 30, 2026

June 30, 2026

September 30, 2025

Noninterest demand

6,058

7,009

5,237

Interest-bearing demand

3,075

2,878

2,966

Savings

1,336

1,352

1,408

Money market

6,015

5,894

5,536

Total core deposits

16,484

17,133

15,147

Time deposits

1,900

1,871

2,079

Total client deposits

18,384

100

19,004

100

17,226

100

Total client deposits decreased $619.5 million, or 3% (not annualized), when compared with June 30, 2026. The reduction in ending deposits reflects the expected outflow of transactional deposits at the end of the prior quarter within WSFS Institutional Services ® and Commercial. These declines were partially offset by growth within interest-bearing demand (7%) due to seasonal increases in municipal deposits, money market (2%), and time deposits (2%). Average deposits increased slightly during the quarter, led by Commercial and Small Business.

Total client deposits increased $1.2 billion, or 7% from September 30, 2025, with core deposits increasing 9%. This growth was driven by a 16% increase in noninterest demand deposits, with growth in WSFS Institutional Services ®, Commercial, and Consumer. Money market grew 9%, driven by growth across all business lines, while time deposits decreased 9%. Noninterest demand deposits increased to 33% of total client deposits, compared to 31% last year.

The deposit base remains well-diversified, with 56% of quarterly average client deposits coming from outside of our Consumer business. No- and low-cost deposit accounts (6) represented 58% of average total client deposits with a weighted average cost of 31bps for the quarter. The loan-to-deposit ratio (7) was 73% at September 30, 2026, providing capacity to fund ongoing loan growth.

Net Interest Income

Three Months Ended

(Dollars in millions)

September 30, 2026

June 30, 2026

September 30, 2025

Net interest income before purchase accretion

195.2

190.9

182.6

Purchase accounting accretion

1.3

1.6

1.4

Net interest income

196.6

192.5

184.0

Net interest margin before purchase accretion

3.85

3.84

3.88

Purchase accounting accretion

0.03

Net interest margin

3.88

3.87

3.91

Net interest income increased $4.1 million, or 2% (not annualized), compared to 2Q 2026, primarily driven by higher average loan balances and higher yields on loans and investment securities. The higher yields were partially offset by higher deposit costs as we continued to see elevated deposit pricing competition.

Net interest income increased $12.6 million, or 7%, compared to 3Q 2025, primarily driven by lower deposit costs and higher average loan balances. These increases were partially offset by lower loan yields following Federal Funds Rate cuts in 2025.

Total loan yields were 6.26%, an increase of 2bps when compared to 2Q 2026 and a decrease of 38bps when compared to 3Q 2025. The year-over-year decrease was primarily driven by the impact of the aforementioned interest rate cuts.

Total client deposit costs were 1.33% and interest-bearing deposit costs were 2.05%, increases of 4bps and 5bps, respectively, compared to 2Q 2026. Total client deposit costs decreased 29bps and interest-bearing deposit costs decreased 32bps compared to 3Q 2025. The quarter-over-quarter increase in total client deposit costs reflects elevated deposit cost competition and mix shift. The year-over-year decrease was driven primarily by deposit repricing actions and mix shift.

Net interest margin of 3.88% increased 1bp compared to 2Q 2026, primarily due to higher average loan balances and higher investment yields, partially offset by higher deposit costs. Net interest margin decreased 3bps from 3Q 2025 primarily due to the impact of the 2025 interest rate cuts, partially offset by higher investment yields and favorable balance sheet mix.

Asset Quality

(Dollars in millions)

September 30, 2026

June 30, 2026

September 30, 2025

Problem assets (8)

530.4

472.9

629.7

Delinquencies (n)

92.7

95.6

104.7

Nonperforming assets (n)

82.7

81.0

72.6

Net (recoveries) charge-offs on loans and leases

(0.6

)

7.1

9.9

Total net credit costs (q)

11.5

7.1

8.4

Problem assets to total Tier 1 capital plus ACL on loans and leases

21.66

19.48

26.64

Classified assets to total Tier 1 capital plus ACL on loans and leases

15.81

16.96

19.20

Ratio of nonperforming assets to total assets (n)

0.37

0.36

0.35

Delinquencies (n) to gross loans (i)

0.68

0.71

0.81

Ratio of quarterly net charge-offs (recoveries) to average gross loans

(0.02

)

0.21

0.30

Ratio of allowance for credit losses to total loans and leases (p)

1.36

1.32

1.41

Ratio of allowance for credit losses to nonaccruing loans (n)

262

260

254

See “Notes”

Overall, most asset quality metrics were stable with delinquencies reaching their lowest level in two years, while year-to-date net charge-offs were 3bps of average gross loans.

Problem assets increased $57.5 million compared to June 30, 2026, driven by several downgrades, primarily within multifamily and construction, partially offset by payoffs. Delinquencies decreased $2.9 million, or 3bps of gross loans, compared to June 30, 2026, driven by commercial payoffs. Problem assets decreased 16% and delinquencies decreased 11% compared to September 30, 2025.

Nonperforming assets (NPAs) increased $1.7 million, or 1bp of total assets, compared to June 30, 2026. The increase in NPAs was primarily driven by a student housing-related loan, partially offset by payoffs of a C&I loan and a CRE office loan.

Net recoveries on loans and leases for the quarter were $0.6 million compared to net charge-offs of $7.1 million in 2Q 2026. The quarter included recoveries of $7.6 million from the payoff of NPAs noted above.

Total net credit costs increased $4.4 million when compared to 2Q 2026, driven by a specific reserve of $8.1 million on the student housing-related loan mentioned above and a $2.0 million write-down of an OREO property, partially offset by the aforementioned recoveries.

The ACL on loans and leases was $185.2 million as of September 30, 2026, an increase of $8.0 million when compared to June 30, 2026, and the ACL coverage increased 4bps to 1.36%.

Core Fee Revenue (9)

Core fee revenue (noninterest income) of $91.0 million decreased $1.2 million, or 1%, compared to 2Q 2026. We continued to see strong momentum in Wealth and Trust, which had an increase of $2.5 million, or 5%, due to growth across WSFS Institutional Services ® and Private Wealth Management. This increase was more than offset by a decline in Capital Markets revenue from lower demand for interest rate swaps due to the rate environment, as well as lower Cash Connect ® revenue driven by a decrease in cash volume.

Core fee revenue increased $3.0 million, or 3%, compared to 3Q 2025. The increase was driven by a $12.5 million, or 30%, increase in Wealth and Trust, including 45% growth in WSFS Institutional Services ®, driven by both Corporate Trust and Global Capital Markets, 22% growth in BMT of DE, and 14% growth in Private Wealth Management. These increases were partially offset by a $3.6 million decrease in Cash Connect ®, primarily due to the impact of interest rate cuts in 2025 and lower ATM volumes, as well as lower gains on the sale of mortgage and SBA loans as we retained more of our originated loans.

For 3Q 2026, our core fee revenue ratio (9) was 31.6% compared to 32.3% in both 2Q 2026 and 3Q 2025. Fee revenue diversification is a strategic priority and we continue to see momentum in our fee businesses, particularly in Wealth and Trust.

Core Noninterest Expense (10)

Core noninterest expense of $161.5 million decreased $4.8 million, or 3% (not annualized), compared to 2Q 2026. The decrease is primarily due to lower external fraud losses, including recoveries of previously incurred losses, lower medical costs, and lower professional fees which were primarily driven by a recovery of legal expenses. These decreases were partially offset by an increase in occupancy expenses and loan workout and other credit costs due to the write-down of an existing OREO property.

Core noninterest expense decreased $0.7 million, or less than 1%, compared to 3Q 2025. Excluding Cash Connect ® external funding costs, which decreased due to lower rates and ATM volume, core noninterest expense increased $2.6 million (10), or 2%. This increase reflects higher salaries and benefits primarily due to merit increases, higher equipment expenses from client transaction costs in Wealth and Trust and continued investment in technology across the franchise, as well as the OREO write-down noted above. These increases were partially offset by lower external fraud losses and professional fees.

Our core efficiency ratio (10) was 56.1% in 3Q 2026, compared to 58.3% in 2Q 2026 and 59.5% in 3Q 2025, reflecting our focus on expense discipline while continuing to invest in the franchise.

Income Taxes

We recorded a $28.3 million income tax provision in 3Q 2026, compared to $26.8 million in 2Q 2026 and $24.4 million in 3Q 2025. The increases in income tax provision compared to 2Q 2026 and 3Q 2025 were primarily due to higher income before taxes.

The effective tax rate was 24.1% in 3Q 2026 compared to 24.1% in 2Q 2026 and 24.2% in 3Q 2025. The decrease in effective tax rate compared to 3Q 2025 is primarily due to increased federal tax credits.

Capital Management

Capital ratios remain strong and are all substantially in excess of the “well-capitalized” regulatory benchmarks at September 30, 2026, with a Common Equity Tier 1 capital ratio and Tier 1 capital ratio of 13.74%, Tier 1 leverage ratio of 10.40%, and Total Risk-based capital ratio of 15.47%.

WSFS’ total stockholders’ equity decreased $108.8 million, or 4%, during 3Q 2026. The decrease was primarily due to an increase in accumulated other comprehensive loss of $131.2 million, driven by market-value decreases on available-for-sale investment securities, and capital returns to stockholders of $69.8 million, partially offset by quarterly earnings of $89.3 million.

WSFS’ tangible common equity (11) decreased $104.4 million, or 6%, compared to June 30, 2026, primarily due to the reasons noted above. WSFS’ common equity to assets ratio decreased 19bps to 11.82% and tangible common equity to tangible assets ratio (12) decreased 29bps to 7.82% at September 30, 2026.

At September 30, 2026, book value per share was $51.58, a decrease of $1.39, or 3% (not annualized), from June 30, 2026, and tangible book value per share (11) was $32.67, a decrease of $1.57, or 5% (not annualized), from June 30, 2026, primarily due to the increase in accumulated other comprehensive loss. Book value per share increased $1.91, or 4%, and tangible book value per share increased $0.56, or 2%, compared to 3Q 2025.

During 3Q 2026, WSFS repurchased 748,970 shares of common stock for an aggregate of $59.6 million and paid quarterly cash dividends of $10.2 million. Total capital returns to stockholders through share repurchases and quarterly dividends was $69.8 million. WSFS has 8,451,059 shares, or approximately 17% of outstanding shares as of September 30, 2026, available for repurchase.

The Board of Directors approved a quarterly cash dividend of $0.20 per share of common stock. The dividend will be paid on November 20, 2026 to stockholders of record as of November 6, 2026.

Selected Business Segments (included in previous results):

Wealth and Trust

The Wealth and Trust segment provides a broad array of planning and advisory services, investment management, trust services, credit and deposit products to individual, corporate, and institutional Clients.

Selected quarterly performance results and metrics are as follows:

(Dollars in millions, except where otherwise noted)

September 30, 2026

June 30, 2026

September 30, 2025

Net interest income (12)

34.6

31.7

24.0

Provision for (recovery of) credit losses

1.6

1.8

(0.1

)

Fee revenue (12)

54.7

52.4

42.3

Noninterest expense (12)

35.1

34.5

32.0

Pre-tax income

52.7

47.7

34.4

Performance Metrics

WSFS Institutional Services ® and BMT of DE fee revenue

38.2

36.3

27.6

Private Wealth Management fee revenue

16.6

16.1

14.8

AUM/AUA (in billions) (13)

109.5

101.7

93.4

Wealth and Trust pre-tax income was $52.7 million, which increased $5.0 million, or 10% (not annualized), compared to 2Q 2026, driven by increases in net interest income of $3.0 million and fee revenue of $2.3 million.

The increase in net interest income was driven by higher yields on interest-earning assets. The increase in fee revenue was driven by higher deal activity in WSFS Institutional Services ® and higher AUM-based fees.

Wealth and Trust pre-tax income increased $18.3 million, or 53%, compared to 3Q 2025, driven by increases in fee revenue of $12.4 million and net interest income of $10.6 million. These increases were partially offset by an increase in noninterest expense of $3.0 million.

The increase in fee revenue was driven by growth in WSFS Institutional Services ®, Private Wealth Management, and BMT of DE. The increase in net interest income was due to higher noninterest deposit balances in WSFS Institutional Services ®. The increase in noninterest expense was primarily due to higher salaries and benefits and client transaction costs, partially offset by a recovery of legal fees.

AUM/AUA increased $7.8 billion to $109.5 billion at the end of 3Q 2026 driven by account growth and market appreciation.

Cash Connect ®

Cash Connect ® is a premier provider of ATM vault cash, smart safe and cash logistics services in the United States, servicing non-bank ATMs and smart safes nationwide and supporting ATMs for WSFS Bank Clients.

Selected quarterly financial results and metrics are as follows:

(Dollars in millions)

September 30, 2026

June 30, 2026

September 30, 2025

Net revenue (14)

19.3

19.7

22.0

Noninterest expense (15)

16.3

16.8

19.6

Pre-tax income

2.9

3.0

2.3

Performance Metrics

Average cash managed

1,197

1,251

1,386

Number of serviced non-bank ATMs and smart safes

35,053

35,171

36,511

Net profit margin

15.1

15.0

10.6

ROA

2.26

2.15

1.67

Cash Connect ® pre-tax income of $2.9 million was down slightly compared to 2Q 2026. Net revenue decreased $0.5 million driven by lower cash volume as well as a decrease in units. Cash Connect ® net profit margin of 15.1% and ROA of 2.26% were both up compared to 2Q 2026.

Compared to 3Q 2025, pre-tax income increased $0.6 million, driven by lower cost of non-earning cash and lower noninterest expense. Net revenue decreased $2.8 million driven by lower ATM volume and the impact of lower rates, which were more than offset by lower funding costs in noninterest expense. Net profit margin increased 445bps compared to 3Q 2025, while ROA increased 59bps.

Cash Connect ® continues to shift its business mix from traditional non-bank ATMs to higher margin products, such as smart safe units and managed cash solutions. Cash Connect ® smart safe units have grown 1% quarter-over-quarter and 5% year-over-year.

Third Quarter 2026 Earnings Release Conference Call

Management will conduct a conference call to review 3Q 2026 results at 1:00 p.m. Eastern Time (ET) on Friday, October 23, 2026. Interested parties may access the conference call live on our Investor Relations website ( https://investors.wsfsbank.com). For those who cannot access the live conference call, a replay will be accessible shortly after the event concludes through our Investor Relations website.

About WSFS Financial Corporation

WSFS Financial Corporation is a multibillion-dollar financial services company. Its primary subsidiary, WSFS Bank, is the oldest and largest locally headquartered bank and wealth management franchise in the Greater Philadelphia and Delaware region. As of September 30, 2026, WSFS Financial Corporation had $22.1 billion in assets on its balance sheet and $109.5 billion in assets under management and administration. WSFS operates from 115 offices, 87 of which are banking offices, located in Pennsylvania (59), Delaware (38), New Jersey (14), Florida (2), Nevada (1) and Virginia (1) and provides comprehensive financial services including commercial banking, consumer banking, treasury management, and trust and wealth management. Other subsidiaries or divisions include Arrow Land Transfer, Bryn Mawr Trust Advisors, LLC, Bryn Mawr Trust ®, The Bryn Mawr Trust Company of Delaware, Cash Connect ®, NewLane Finance ®, WSFS Wealth ® Management, LLC, WSFS Institutional Services ®, and WSFS Mortgage ®. Serving the Greater Delaware Valley since 1832, WSFS Bank is one of the ten oldest banks in the United States continuously operating under the same name. For more information, please visit www.wsfsbank.com.

Forward-Looking Statements

This press release 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 limitation, references to the Company's predictions or expectations of future business or financial performance as well as its goals and objectives for future operations, financial and business trends, business prospects, and management's outlook or expectations for earnings, revenues, expenses, capital levels, liquidity levels, asset quality or other future financial or business performance, strategies or expectations. The words “believe,” “expect,” “anticipate,” “plan,” “estimate,” “target,” “project” and similar expressions, among others, generally identify forward-looking statements. Such forward-looking statements are based on various assumptions (some of which may be beyond the Company's control) and are subject to risks and uncertainties (which change over time) and other factors which could cause actual results to differ materially from those currently anticipated. Such risks and uncertainties include, but are not limited to, difficult market conditions and unfavorable economic trends in the United States generally and in financial markets, particularly in the markets in which the Company operates and in which its loans are concentrated, including difficult and unfavorable conditions and trends related to housing markets, costs of living, unemployment levels, interest rates, supply chain issues, inflation, and economic growth; possible additional loan losses and impairment of the collectability of loans; losses incurred as a result of external fraud; the Company's level of nonperforming assets and the costs associated with resolving problem loans including litigation and other costs and complying with government-imposed foreclosure moratoriums; the credit risk associated with the substantial amount of commercial real estate, commercial and industrial, and construction and land development loans in the Company's loan portfolio; changes in market interest rates, which may increase funding costs and reduce earning asset yields and thus reduce margin; the impact of changes in interest rates and the credit quality and strength of underlying collateral and the effect of such changes on the market value of the Company's investment securities portfolio, which could impact market confidence in the Company's operations; the extensive federal and state regulation, supervision and examination governing almost every aspect of the Company's operations, and potential expenses associated with complying with such regulations; the Company's ability to comply with applicable capital and liquidity requirements, including its ability to generate liquidity internally or raise capital on favorable terms; the impacts related to or resulting from bank failures and other economic industry volatility, including potential increased regulatory requirements and costs and potential impacts to macroeconomic conditions; changes in trade, monetary and fiscal policies and stimulus programs, laws and regulations and other activities of governments, agencies, and similar organizations, and the uncertainty of the short- and long-term impacts of such changes; any impairments of the Company's goodwill or other intangible assets, or equity investments; the success of the Company's growth plans across our WSFS Bank, Cash Connect ® and/or Wealth and Trust segments; the Company's ability to successfully integrate and fully realize the cost savings and other benefits of its acquisitions, manage risks related to business disruption following those acquisitions, and post-acquisition Client acceptance of the Company's products and services and related Client disintermediation; negative perceptions or publicity with respect to the Company generally and, in particular, the Company's Wealth and Trust business; failure of the financial and/or operational controls of the Company's Cash Connect ® and/or Wealth and Trust segments; adverse judgments or other resolution of pending and future legal proceedings, and costs incurred in defending such proceedings; the Company's reliance on third parties for certain important functions, including the operation of its core systems, and any failures by such third parties; system failures or cybersecurity incidents or other breaches of the Company's network security, particularly given remote working arrangements; any actual or perceived failure or deficiency in the use of artificial intelligence by the Company or third-party vendors or service providers; the Company's ability to recruit and retain key Associates; the effects of weather, including climate change, and natural disasters such as floods, droughts, wind, tornadoes, wildfires and hurricanes as well as effects from geopolitical instability, armed conflicts, public health crises and man-made disasters including terrorist attacks; the effects of regional or national civil unrest (including any resulting branch or ATM closures or damage); possible changes in the speed of loan prepayments by the Company's Clients and loan origination or sales volumes; possible changes in market valuations and/or the speed of prepayments of mortgage-backed securities (MBS) due to changes in the interest rate environment, and the related acceleration of premium amortization on prepayments in the event that prepayments accelerate; regulatory limits on the Company's ability to receive dividends from its subsidiaries, and pay dividends to its stockholders; any reputation, credit, interest rate, market, operational, litigation, legal, liquidity, regulatory and compliance risk resulting from developments related to any of the risks discussed above; any compounding effects or unexpected interactions of the risks discussed above; and other risks and uncertainties, including those discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2025 under the heading “Risk Factors” and in other documents filed by the Company with the Securities and Exchange Commission from time to time.

The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. The Company disclaims any duty to revise or update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company for any reason, except as specifically required by law. As used in this press release, the terms "WSFS," "the Company," "registrant," "we," "us," and "our" mean WSFS Financial Corporation and its subsidiaries, on a consolidated basis, unless the context indicates otherwise.

WSFS FINANCIAL CORPORATION

FINANCIAL HIGHLIGHTS

SUMMARY STATEMENTS OF INCOME (Unaudited)

Three months ended

Nine months ended

(Dollars in thousands, except per share data)

September 30, 2026

June 30, 2026

September 30, 2025

September 30, 2026

September 30, 2025

Interest income:

Interest and fees on loans

213,684

208,206

218,250

627,133

651,007

Interest on mortgage-backed securities

30,392

27,975

24,202

83,609

73,478

Interest and dividends on investment securities

2,137

2,157

2,180

6,465

6,552

Other interest income

17,692

18,498

13,789

52,743

31,452

263,905

256,836

258,421

769,950

762,489

Interest expense:

Interest on deposits

62,630

59,694

71,185

181,821

212,413

Interest on Federal Home Loan Bank advances

495

491

586

1,425

2,473

Interest on senior and subordinated debt

2,775

2,765

1,089

8,306

4,252

Interest on trust preferred borrowings

1,390

1,370

1,524

4,115

4,565

Interest on other borrowings

67,311

64,336

74,398

195,720

223,755

Net interest income

196,594

192,500

184,023

574,230

538,734

Provision for credit losses

8,393

5,044

6,566

11,439

36,537

Net interest income after provision for credit losses

188,201

187,456

177,457

562,791

502,197

Noninterest income:

Credit/debit card and ATM income

14,819

15,620

18,487

45,505

55,539

Investment management and fiduciary revenue

53,928

51,460

41,272

154,515

124,327

Deposit service charges

7,251

7,041

7,001

21,169

20,556

Mortgage banking activities, net

971

1,323

2,091

4,655

6,232

Loan and lease fee income

1,904

1,618

2,089

5,524

4,984

Unrealized loss on equity investment, net

—

(4,134

)

—

(4,134

)

—

Realized gain on sale of equity investment, net

146

159

939

305

957

Other income

11,959

16,881

14,592

43,522

42,782

90,978

89,968

86,471

271,061

255,377

Noninterest expense:

Salaries, benefits and other compensation

93,817

95,767

91,661

281,471

263,283

Occupancy expense

9,380

8,309

8,498

27,828

27,220

Equipment expense

14,648

13,661

12,933

41,581

39,439

Data processing and operations expense

4,977

5,246

5,045

15,234

14,750

Professional fees

3,572

4,752

4,942

12,442

15,851

Marketing expense

2,528

2,567

2,178

7,230

5,798

FDIC expenses

2,539

2,523

2,739

7,696

7,750

Loss on debt extinguishment

—

352

—

352

Loan workout and other credit costs

3,150

2,087

1,802

7,411

3,671

Corporate development expense

171

182

(99

)

Restructuring expense

—

398

2,820

658

Other operating expenses

26,862

31,325

32,337

86,729

95,521

161,559

166,300

163,056

490,624

474,194

Income before taxes

117,620

111,124

100,872

343,228

283,380

Income tax provision

28,309

26,795

24,405

82,743

68,825

Net income

89,311

84,329

76,467

260,485

214,555

Less: Net income (loss) attributable to noncontrolling interest

(69

)

(36

)

(116

)

Net income attributable to WSFS

89,296

84,398

76,449

260,521

214,671

Diluted earnings per share of common stock:

1.75

1.63

1.37

5.01

3.75

Weighted average shares of common stock outstanding for fully diluted EPS

51,100,141

51,935,567

55,960,833

52,010,835

57,171,976

See “Notes”

WSFS FINANCIAL CORPORATION

FINANCIAL HIGHLIGHTS

SUMMARY STATEMENTS OF INCOME (Unaudited) - continued

Three months ended

Nine months ended

September 30, 2026

June 30, 2026

September 30, 2025

September 30, 2026

September 30, 2025

Performance Ratios:

Return on average assets (a)

1.58

1.52

1.44

1.57

1.37

Return on average equity (a)

13.02

12.39

11.25

12.71

10.78

Return on average tangible common equity (a)(o)

20.74

19.78

18.31

20.23

17.78

Net interest margin (a)(b)

3.88

3.87

3.91

3.86

3.89

Efficiency ratio (c)

56.1

58.8

60.2

57.9

59.6

Noninterest income as a percentage of total net revenue (b)

31.6

31.8

31.9

32.0

32.1

See “Notes”

WSFS FINANCIAL CORPORATION

FINANCIAL HIGHLIGHTS (Continued)

SUMMARY STATEMENTS OF FINANCIAL CONDITION (Unaudited)

(Dollars in thousands)

September 30, 2026

June 30, 2026

September 30, 2025

Assets:

Cash and due from banks

1,926,787

2,565,643

1,564,273

Investment securities, available-for-sale

3,691,117

3,841,008

3,502,159

Investment securities, held-to-maturity

925,722

943,292

979,698

Other investments

22,553

38,231

46,691

Net loans and leases (e)(f)(l)

13,478,388

13,323,785

12,840,383

Goodwill and intangibles

958,111

962,451

973,677

Other assets

1,109,081

979,538

933,534

Total assets

22,111,759

22,653,948

20,840,415

Liabilities and Stockholders’ Equity:

Noninterest-bearing deposits

6,057,908

7,008,388

5,236,956

Interest-bearing deposits

12,326,178

11,995,247

11,989,262

Total client deposits

18,384,086

19,003,635

17,226,218

Other borrowings

304,369

307,017

255,099

Other liabilities

820,970

632,222

616,317

Total liabilities

19,509,425

19,942,874

18,097,634

Stockholders’ equity of WSFS

2,613,043

2,721,798

2,753,273

Noncontrolling interest

(10,709

)

(10,724

)

(10,492

)

Total stockholders' equity

2,602,334

2,711,074

2,742,781

Total liabilities and stockholders' equity

22,111,759

22,653,948

20,840,415

Capital Ratios:

Equity to asset ratio

11.82

12.01

13.21

Tangible common equity to tangible asset ratio (o)

7.82

8.11

8.96

Common equity Tier 1 capital (required: 4.5%; well capitalized: 6.5%) (g)

13.74

13.76

14.39

Tier 1 leverage (required: 4.00%; well-capitalized: 5.00%) (g)

10.40

10.35

11.11

Tier 1 risk-based capital (required: 6.00%; well-capitalized: 8.00%) (g)

13.74

13.76

14.39

Total risk-based capital (required: 8.00%; well-capitalized: 10.00%) (g)

15.47

16.19

Asset Quality Indicators:

Nonperforming assets:

Nonaccruing loans (s)(n)

70,810

68,271

72,148

Assets acquired through foreclosure

11,846

12,690

439

Total nonperforming assets

82,656

80,961

72,587

Past due loans (h)(n)

15,718

8,112

14,295

Troubled loans (t)(n)

109,074

105,736

156,803

Allowance for credit losses

187,882

180,035

185,504

Ratio of nonperforming assets to total assets (n)

0.37

0.36

0.35

Ratio of allowance for credit losses to total loans and leases (p)

1.36

1.32

1.41

Ratio of allowance for credit losses to nonaccruing loans (n)

262

260

254

Ratio of quarterly net (recoveries) charge-offs to average gross loans (a)(e)(i)

(0.02

)

0.21

0.30

Ratio of year-to-date net charge-offs to average gross loans (a)(e)(i)

0.03

0.06

0.45

See “Notes”

WSFS FINANCIAL CORPORATION

FINANCIAL HIGHLIGHTS (Continued)

AVERAGE BALANCE SHEET (Unaudited)

(Dollars in thousands)

Three months ended

September 30, 2026

June 30, 2026

September 30, 2025

Average

Balance

Interest &

Dividends

Yield/

Rate

(a)(b)

Average

Balance

Interest &

Dividends

Yield/

Rate

(a)(b)

Average

Balance

Interest &

Dividends

Yield/

Rate

(a)(b)

Assets:

Interest-earning assets:

Loans: (e) (j)

Commercial and industrial

4,944,975

76,763

6.18

4,838,475

73,772

6.13

4,609,091

74,136

6.38

Commercial real estate loans (r)

4,910,602

77,832

6.29

4,896,752

75,795

6.21

4,831,359

82,914

6.81

Commercial leases

586,544

12,595

8.59

581,053

12,560

8.65

620,096

13,586

8.76

Residential mortgage

1,276,935

18,074

5.66

1,142,113

15,774

5.52

1,002,442

13,711

5.47

Consumer loans

1,810,352

28,012

6.14

1,854,178

28,889

6.25

1,908,700

32,548

6.77

Loans held for sale

25,675

408

6.30

78,068

1,416

7.28

75,418

1,355

7.13

Total loans and leases

13,555,083

213,684

6.26

13,390,639

208,206

6.24

13,047,106

218,250

6.64

Mortgage-backed securities (d)

4,395,451

30,392

2.77

4,286,970

27,975

2.61

4,090,178

24,202

2.37

Investment securities (d)

358,714

2,137

2.69

363,491

2,157

2.71

366,450

2,180

2.66

Other interest-earning assets

1,844,939

17,692

3.80

1,979,080

18,498

3.75

1,227,761

13,789

4.46

Total interest-earning assets

20,154,187

263,905

5.21

20,020,180

256,836

5.16

18,731,495

258,421

5.48

Allowance for credit losses

(185,294

)

(183,731

)

(190,837

)

Cash and due from banks

523,758

555,255

570,022

Other noninterest-earning assets

1,907,015

1,881,773

1,924,418

Total assets

22,399,666

22,273,477

21,035,098

Liabilities and stockholders’ equity:

Interest-bearing liabilities:

Interest-bearing deposits:

Interest-bearing demand

2,856,067

6,970

0.97

2,796,834

6,254

0.90

2,825,284

7,870

1.11

Savings

1,368,308

1,444

0.42

1,370,482

1,172

0.34

1,433,399

1,723

0.48

Money market

6,007,946

39,889

2.63

5,890,550

38,131

2.60

5,581,010

42,378

3.01

Time deposits

1,870,707

14,327

3.04

1,894,349

14,137

2.99

2,077,815

19,214

3.67

Total interest-bearing client deposits

12,103,028

62,630

2.05

11,952,215

59,694

2.00

11,917,508

71,185

2.37

Brokered deposits

—

Total interest-bearing deposits

12,103,039

62,630

2.05

11,952,215

59,694

2.00

11,917,508

71,185

2.37

Federal Home Loan Bank advances

49,457

495

3.92

50,000

491

3.88

50,215

586

4.63

Trust preferred borrowings

91,145

1,390

6.05

91,096

1,370

6.03

90,952

1,524

6.65

Senior and subordinated debt

197,074

2,775

5.63

196,997

2,765

5.61

148,766

1,089

2.93

Other borrowed funds

25,421

0.33

22,324

0.29

16,504

0.34

Total interest-bearing liabilities

12,466,136

67,311

2.14

12,312,632

64,336

2.10

12,223,945

74,398

2.41

Noninterest-bearing demand deposits

6,561,908

6,631,914

5,493,161

Other noninterest-bearing liabilities

660,398

606,784

633,625

Stockholders’ equity of WSFS

2,721,973

2,732,684

2,694,883

Noncontrolling interest

(10,749

)

(10,537

)

(10,516

)

Total liabilities and equity

22,399,666

22,273,477

21,035,098

Excess of interest-earning assets over interest-bearing liabilities

7,688,051

7,707,548

6,507,550

Net interest and dividend income

196,594

192,500

184,023

Interest rate spread

3.07

3.06

3.07

Net interest margin

3.88

3.87

3.91

See “Notes”

WSFS FINANCIAL CORPORATION

FINANCIAL HIGHLIGHTS (Continued)

(Unaudited)

(Dollars in thousands, except per share data)

Three months ended

Nine months ended

Stock Information:

September 30, 2026

June 30, 2026

September 30, 2025

September 30, 2026

September 30, 2025

Market price of common stock:

High

$82.94

$78.39

$59.67

$82.94

$59.67

Low

74.78

64.98

52.58

54.31

42.44

75.57

76.73

53.93

75.57

53.93

Book value per share of common stock

51.58

52.97

49.67

Tangible common book value (TBV) per share of common stock (o)

32.67

34.24

32.11

Number of shares of common stock outstanding (000s)

50,660

51,388

55,427

Other Financial Data:

One-year repricing gap to total assets (k)(u)

3.02%

6.45%

(1.34)%

Weighted average duration of the MBS portfolio

5.6 years

6.0 years

Unrealized losses on securities available for sale, net of taxes

$(518,520)

$(393,925)

$(400,669)

Number of Associates (FTEs) (m)

2,323

2,391

2,338

Number of offices (branches, LPO’s, operations centers, etc.)

115

114

Notes:

Represents capital ratios of WSFS Financial Corporation and subsidiaries. Capital Ratios for the current quarter are to be considered preliminary until regulatory filings for the quarter are completed.

Accruing loans which are contractually past due 90 days or more as to principal or interest. Balance includes student loans, which are U.S. government guaranteed with little risk of credit loss.

Excludes loans held for sale and reverse mortgage loans.

Nonperforming loans are included in average balance computations.

The difference between projected amounts of interest-sensitive assets and interest-sensitive liabilities repricing within one year divided by total assets, based on a current interest rate scenario.

Includes loans held for sale and reverse mortgages.

Includes seasonal Associates, when applicable.

Includes loans held for sale.

The Company uses non-GAAP (United States Generally Accepted Accounting Principles) financial information in its analysis of the Company’s performance. The Company’s management believes that these non-GAAP financial measures provide a greater understanding of ongoing operations, enhance comparability of results of operations with prior periods and show the effects of significant gains and charges in the periods presented. The Company’s management believes that investors may use these non-GAAP financial measures to analyze the Company’s financial performance without the impact of unusual items or events that may obscure trends in the Company’s underlying performance. This non-GAAP data should be considered in addition to results prepared in accordance with GAAP, and is not a substitute for, or superior to, GAAP results. For a reconciliation of these and other non-GAAP financial measures to their most directly comparable GAAP measures, see "Non-GAAP Reconciliation" at the end of the press release.

Reflects allowance for credit losses on loans and leases over the amortized cost of the total portfolio.

Includes provision for credit losses, loan workout expenses, OREO expenses and other credit costs.

Includes commercial mortgage and commercial construction loans.

Includes nonaccruing troubled loans.

Represents loans modified in the form of principal forgiveness, interest rate reduction, an other-than-insignificant payment delay, or a term extension to borrowers experiencing financial difficulty.

Includes the impact of cash flow hedges. Prior period amounts have been updated to conform to current presentation.

WSFS FINANCIAL CORPORATION

FINANCIAL HIGHLIGHTS (Continued)

(Dollars in thousands, except per share data)

(Unaudited)

Non-GAAP Reconciliation (o):

Three months ended

Nine months ended

September 30, 2026

June 30, 2026

September 30, 2025

September 30, 2026

September 30, 2025

Net interest income (GAAP)

196,594

192,500

184,023

574,230

538,734

Core net interest income (non-GAAP)

196,594

192,500

184,023

574,230

538,734

Noninterest income (GAAP)

90,978

89,968

86,471

271,061

255,377

Plus: Unrealized loss on equity investments, net

—

(4,134

)

—

(4,134

)

—

Less: Realized gain on sale of equity investment, net

146

159

939

305

957

Plus: Visa derivative valuation adjustment

—

(2,429

)

—

(2,429

)

(Plus)/less: (Loss) gain on sale of credit card portfolio

(140

)

1,746

—

1,605

—

Core fee revenue (non-GAAP)

90,972

92,197

87,961

273,285

256,849

Core net revenue (non-GAAP)

287,566

284,697

271,984

847,515

795,583

Core net revenue (non-GAAP)(tax-equivalent)

288,087

285,231

272,482

849,100

797,023

Noninterest expense (GAAP)

161,559

166,300

163,056

490,624

474,194

Less: Loss on debt extinguishment

—

352

—

352

Less/(plus): Corporate development expense

171

182

(99

)

Less: Restructuring expense

—

398

2,820

658

Core noninterest expense (non-GAAP)

161,473

166,237

162,135

487,622

473,283

Core efficiency ratio (non-GAAP)

56.1

58.3

59.5

57.4

59.4

Core fee revenue ratio (non-GAAP) (b)

31.6

32.3

32.2

End of period

September 30, 2026

June 30, 2026

September 30, 2025

Total assets (GAAP)

22,111,759

22,653,948

20,840,415

Less: Goodwill and other intangible assets

958,111

962,451

973,677

Total tangible assets (non-GAAP)

21,153,648

21,691,497

19,866,738

Total stockholders’ equity of WSFS (GAAP)

2,613,043

2,721,798

2,753,273

Less: Goodwill and other intangible assets

958,111

962,451

973,677

Total tangible common equity (non-GAAP)

1,654,932

1,759,347

1,779,596

Tangible common book value (TBV) per share:

Book value per share (GAAP)

51.58

52.97

49.67

Tangible common book value per share (non-GAAP)

32.67

34.24

32.11

Tangible common equity to tangible assets:

Equity to asset ratio (GAAP)

11.82

12.01

13.21

Tangible common equity to tangible assets ratio (non-GAAP)

7.82

8.11

8.96

Non-GAAP Reconciliation - continued (o):

Three months ended

Nine months ended

September 30, 2026

June 30, 2026

September 30, 2025

September 30, 2026

September 30, 2025

GAAP net income attributable to WSFS

89,296

84,398

76,449

260,521

214,671

Plus: Pre-tax adjustments: Realized/unrealized gain (loss) on equity investments, net, Visa derivative adjustment, (loss) gain on sale of credit card portfolio, loss on debt extinguishment, corporate development and restructuring expense

2,292

2,411

5,226

2,383

Less: Tax impact of pre-tax adjustments

(57

)

(539

)

(589

)

(1,235

)

(616

)

Adjusted net income (non-GAAP) attributable to WSFS

89,319

86,151

78,271

264,512

216,438

GAAP return on average assets (ROA)

1.58

1.52

1.44

1.57

1.37

—

0.04

0.05

0.03

0.02

Less: Tax impact of pre-tax adjustments

—

(0.01

)

(0.01

)

(0.01

)

—

Core ROA (non-GAAP)

1.58

1.55

1.48

1.59

1.39

Earnings per share (diluted) (GAAP)

1.75

1.63

1.37

5.01

3.75

—

0.04

0.10

0.04

Less: Tax impact of pre-tax adjustments

—

(0.01

)

(0.01

)

(0.02

)

—

Core earnings per share (non-GAAP)

1.75

1.66

1.40

5.09

3.79

Calculation of return on average tangible common equity:

GAAP net income attributable to WSFS

89,296

84,398

76,449

260,521

214,671

Plus: Tax effected amortization of intangible assets

2,745

2,766

2,864

8,289

8,756

Net tangible income (non-GAAP)

92,041

87,164

79,313

268,810

223,427

Average stockholders’ equity of WSFS

2,721,973

2,732,684

2,694,883

2,741,236

2,661,709

Less: Average goodwill and intangible assets

961,111

964,974

976,270

964,853

981,809

Net average tangible common equity

1,760,862

1,767,710

1,718,613

1,776,383

1,679,900

Return on average tangible common equity (non-GAAP)

20.74

19.78

18.31

20.23

17.78

Calculation of PPNR:

Net income (GAAP)

89,311

84,329

76,467

260,485

214,555

Plus: Income tax provision

28,309

26,795

24,405

82,743

68,825

Plus: Provision for credit losses

8,393

5,044

6,566

11,439

36,537

PPNR (non-GAAP)

126,013

116,168

107,438

354,667

319,917

Non-GAAP Reconciliation - continued (o):

Three months ended

September 30, 2026

June 30, 2026

September 30, 2025

Calculation of adjusted core noninterest expense:

Core noninterest expense (non-GAAP)

161,473

166,237

162,135

Less: Cash Connect ® external funding costs

7,805

7,985

11,045

Adjusted core noninterest expense (non-GAAP)

153,668

158,252

151,090