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GOODWILL AND INTANGIBLE ASSETS
 9 Months Ended
Sep. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
GOODWILL AND INTANGIBLE ASSETS
8. GOODWILL AND INTANGIBLE ASSETS
In accordance with ASC 805, Business Combinations (ASC 805) and ASC 350, Intangibles - Goodwill and Other (ASC 350), all assets acquired and liabilities assumed in purchase acquisitions, including goodwill, indefinite-lived intangibles and other intangibles are recorded at fair value as of acquisition date.
WSFS performs its annual goodwill impairment test on October 1, or more frequently if events and circumstances indicate that the fair value of a reporting unit is less than its carrying value. In between annual tests, management performs a qualitative review of goodwill quarterly as part of the Company's review of the overall business to ensure no events or circumstances have occurred that would impact its goodwill evaluation. During the nine months ended September 30, 2026, management determined based on its qualitative assessment that the fair values of our reporting units exceeded their carrying values, and no goodwill impairment existed.
The following table shows the allocation of goodwill to the reportable operating segments for purposes of goodwill impairment testing:
(Dollars in thousands)WSFS
Bank		Wealth
and Trust		Consolidated
Company
December 31, 2024$753,586 $132,312 $885,898 
Goodwill adjustments(1)
— (674)(674)
December 31, 2025$753,586 $131,638 $885,224 
Goodwill adjustments— — — 
September 30, 2026$753,586 $131,638 $885,224 
(1)During the second quarter of 2025, the Company completed the sale of the WSFS Wealth Management, LLC (dba Powdermill Financial Solutions) business.
ASC 350 requires that an acquired intangible asset be separately recognized if the benefit of the intangible asset is obtained through contractual or other legal rights, or if the asset can be sold, transferred, licensed, rented or exchanged, regardless of the acquirer’s intent to do so. The following table summarizes the Company's intangible assets:
(Dollars in thousands)Gross
Intangible
Assets		Accumulated
Amortization		Net
Intangible
Assets		Amortization Period
September 30, 2026
Core deposits$98,876 $(72,578)$26,298 10 years
Client relationships65,329 (25,257)40,072 
7-15 years
Loan servicing rights(1)
11,484 (7,867)3,617 
10-25 years
Tradename2,900 — 2,900 indefinite
Total intangible assets$178,589 $(105,702)$72,887 
December 31, 2025
Core deposits$101,511 $(67,845)$33,666 10 years
Client relationships68,270 (24,620)43,650 
7-15 years
Loan servicing rights(2)
11,527 (7,064)4,463 
10-25 years
Tradename2,900 — 2,900 indefinite
Total intangible assets$184,208 $(99,529)$84,679 
(1)Gross asset includes valuation allowance for impairment losses of $0.6 million as of September 30, 2026.
(2)Gross asset includes valuation allowance for impairment losses of $0.4 million as of December 31, 2025.
The Company recognized amortization expense on intangible assets of $3.6 million and $10.9 million for the three and nine months ended September 30, 2026 compared to $3.8 million and $11.6 million for the three and nine months ended September 30, 2025.
The following table presents the estimated future amortization expense on definite life intangible assets:
(Dollars in thousands)September 30, 2026
Remaining in 2026$3,838 
202715,091 
202814,414 
20297,171 
20305,627 
Thereafter23,846 
Total$69,987 
Servicing Assets
The value of the Company's SBA loan servicing rights was $2.7 million at September 30, 2026 and $3.4 million at December 31, 2025, and the value of its mortgage servicing rights was $0.9 million and $1.1 million at September 30, 2026 and December 31, 2025, respectively. Changes in the value of the Company's servicing rights resulted in impairment losses of $0.5 million and $0.2 million for the three and nine months ended September 30, 2026, respectively, and impairment losses of less than $0.1 million and $0.3 million for the three and nine months ended September 30, 2025, respectively. Revenues from the Company's SBA loan servicing rights are included in Loan and lease fee income in the unaudited Consolidated Statements of Income, and revenues from originating, marketing and servicing mortgage loans as well as valuation adjustments related to capitalized mortgage servicing rights are included in Mortgage banking activities, net in the unaudited Consolidated Statements of Income.
There was no impairment of other intangible assets as of September 30, 2026 or December 31, 2025 other than the impairment to servicing rights noted above.