v3.26.3
SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION
13. SEGMENT INFORMATION
As defined in ASC 280, Segment Reporting (ASC 280), an operating segment is a component of an enterprise that engages in business activities from which it may earn revenues and incur expenses, whose operating results are regularly reviewed by the enterprise’s chief operating decision maker (CODM) to make decisions about resources to be allocated to the segment and assess its performance, and for which discrete financial information is available. The Company evaluates performance based on pretax net income relative to resources used, and allocate resources based on these results. The accounting policies applicable to the Company's segments are those that apply to its preparation of the accompanying unaudited Consolidated Financial Statements. Based on these criteria, the Company has identified three segments: WSFS Bank, Cash Connect®, and Wealth and Trust.
The WSFS Bank segment provides financial products to Commercial and Consumer Clients. Commercial and Consumer Banking and other banking business units are operating departments of WSFS Bank. These departments share the same regulators, the same market, many of the same Clients and provide similar products and services through the general infrastructure of the Bank. Accordingly, these departments are not considered discrete segments and are appropriately aggregated in the WSFS Bank segment.
The Company's Cash Connect® segment provides ATM vault cash, smart safe and other cash logistics services through strategic partnerships with several of the largest networks, manufacturers and service providers in the ATM industry. Cash Connect® services non-bank and WSFS-branded ATMs and smart safes nationwide.
The Wealth and Trust segment provides a broad array of planning and advisory services, investment management, trust services, and credit and deposit products to individual, corporate, and institutional Clients. Bryn Mawr Trust® is our predominant Private Wealth Management brand, providing advisory, investment management and trustee services to institutions, affluent and high-net-worth individuals. Private Wealth Management, which includes Private Banking, serves high-net-worth Clients and institutions by providing trustee and advisory services, financial planning, customized investment strategies, brokerage products such as annuities and customized banking services including credit and deposit products tailored to its clientele. Private Wealth Management includes businesses that operate under the Bank’s charter and as a registered investment advisor (RIA). It generates revenue through fee-only arrangements, net interest income and other fee-only services such as estate administration, trust tax planning and custody.
BMT-DE provides personal trust and fiduciary services to families and individuals across the U.S. and internationally. WSFS Institutional Services® provides trustee, agency, bankruptcy administration, custodial and commercial domicile services to institutional, corporate Clients and special purpose vehicles.
The following tables show segment results for the three and nine months ended September 30, 2026 and 2025, and represent amounts included in management's reports that are regularly provided to the Company's CODM: Rodger Levenson, Chairman, President and Chief Executive Officer. The CODM evaluates performance based on pretax net income relative to resources used, and allocates resources based on these results.
Three Months Ended September 30, 2026Three Months Ended September 30, 2025
(Dollars in thousands)WSFS Bank
Cash
Connect®
Wealth
and Trust		TotalWSFS Bank
Cash
Connect®
Wealth
and Trust		Total
Statements of Income
External client revenues:
Interest income$256,918 $— $6,987 $263,905 $251,766 $— $6,655 $258,421 
Interest expense59,526 — 7,785 67,311 66,248 — 8,150 74,398 
Net interest income197,392 — (798)196,594 185,518 — (1,495)184,023 
Noninterest income15,075 21,665 54,238 90,978 19,353 25,275 41,843 86,471 
Total external client revenues212,467 21,665 53,440 287,572 204,871 25,275 40,348 270,494 
Inter-segment revenues:
Interest income7,137 383 39,332 46,852 8,210 498 29,540 38,248 
Interest expense39,715 3,250 3,887 46,852 30,038 4,179 4,031 38,248 
Net interest income(32,578)(2,867)35,445 — (21,828)(3,681)25,509 — 
Noninterest income9,286 458 463 10,207 9,426 449 458 10,333 
Total inter-segment revenues(23,292)(2,409)35,908 10,207 (12,402)(3,232)25,967 10,333 
Total revenue189,175 19,256 89,348 297,779 192,469 22,043 66,315 280,827 
External client expenses:
Provision for (release of ) credit losses6,825 11 1,557 8,393 6,563 59 (56)6,566 
Noninterest expenses:
Salaries, benefits and other compensation72,133 2,527 19,157 93,817 72,799 2,486 16,376 91,661 
Occupancy expense9,360 — 20 9,380 8,324 — 174 8,498 
Equipment expense10,424 479 3,745 14,648 9,956 377 2,600 12,933 
Professional fees2,909 65 598 3,572 3,015 85 1,842 4,942 
Other segment items(1)
24,569 11,815 3,758 40,142 26,781 14,956 3,285 45,022 
Total external client expenses126,220 14,897 28,835 169,952 127,438 17,963 24,221 169,622 
Inter-segment expenses:
Noninterest expenses921 1,454 7,832 10,207 907 1,734 7,692 10,333 
Total inter-segment expenses921 1,454 7,832 10,207 907 1,734 7,692 10,333 
Total expenses127,141 16,351 36,667 180,159 128,345 19,697 31,913 179,955 
Income before taxes$62,034 $2,905 $52,681 $117,620 $64,124 $2,346 $34,402 $100,872 
Income tax provision28,309 24,405 
Consolidated net income89,311 76,467 
Net income attributable to noncontrolling interest15 18 
Net income attributable to WSFS$89,296 $76,449 
Supplemental Information
Capital expenditures for the period ended$7,190 $— $17 $7,207 $1,061 $88 $83 $1,232 
(1)Other segment items for each reportable segment includes:
WSFS Bank - data processing and operation expense, marketing expense, FDIC expense, loan workout and other credit costs, corporate development expense, restructuring expense, and certain other noninterest expenses.
Cash Connect® - data processing and operation expense, marketing expense, and certain other noninterest expenses, which includes external funding costs.
Wealth and Trust - data processing and operation expense, marketing expense, FDIC expense, loan workout and other credit costs, and certain other noninterest expenses
Nine Months Ended September 30, 2026Nine Months Ended September 30, 2025
(Dollars in thousands)WSFS Bank
Cash
Connect®
Wealth
and Trust		TotalWSFS Bank
Cash
Connect®
Wealth
and Trust		Total
Statements of Income
External client revenues:
Interest income$749,760 $— $20,190 $769,950 $743,534 $— $18,955 $762,489 
Interest expense172,254 — 23,466 195,720 200,323 — 23,432 223,755 
Net interest income577,506 — (3,276)574,230 543,211 — (4,477)538,734 
Noninterest income49,769 65,712 155,580 271,061 55,523 74,111 125,743 255,377 
Total external client revenues627,275 65,712 152,304 845,291 598,734 74,111 121,266 794,111 
Inter-segment revenues:
Interest income20,658 1,278 108,038 129,974 23,694 1,384 83,289 108,367 
Interest expense109,316 9,741 10,917 129,974 84,673 12,153 11,541 108,367 
Net interest income(88,658)(8,463)97,121 — (60,979)(10,769)71,748 — 
Noninterest income27,240 1,336 1,519 30,095 26,753 1,299 976 29,028 
Total inter-segment revenues(61,418)(7,127)98,640 30,095 (34,226)(9,470)72,724 29,028 
Total revenue565,857 58,585 250,944 875,386 564,508 64,641 193,990 823,139 
External client expenses:
Provision for (release of) credit losses6,907 (59)4,591 11,439 31,246 59 5,232 36,537 
Noninterest expenses:
Salaries, benefits and other compensation218,967 7,599 54,905 281,471 206,872 7,694 48,717 263,283 
Occupancy expense27,832 — (4)27,828 26,350 — 870 27,220 
Equipment expense30,719 1,217 9,645 41,581 30,405 1,264 7,770 39,439 
Professional fees8,734 263 3,445 12,442 9,413 328 6,110 15,851 
Other segment items(1)
80,352 36,239 10,711 127,302 76,253 43,339 8,809 128,401 
Total external client expenses373,511 45,259 83,293 502,063 380,539 52,684 77,508 510,731 
Inter-segment expenses:
Noninterest expenses2,855 4,456 22,784 30,095 2,275 4,764 21,989 29,028 
Total inter-segment expenses2,855 4,456 22,784 30,095 2,275 4,764 21,989 29,028 
Total expenses376,366 49,715 106,077 532,158 382,814 57,448 99,497 539,759 
Income before taxes$189,491 $8,870 $144,867 343,228 $181,694 $7,193 $94,493 $283,380 
Income tax provision82,743 68,825 
Consolidated net income260,485 214,555 
Net loss attributable to noncontrolling interest(36)(116)
Net income attributable to WSFS$260,521 $214,671 
Supplemental Information
Capital expenditures for the period ended$9,810 $— $17 $9,827 $4,856 $197 $586 $5,639 
(1)Other segment items for each reportable segment includes:
WSFS Bank - data processing and operation expense, marketing expense, FDIC expense, loan workout and other credit costs, corporate development expense, restructuring expense, and certain other noninterest expenses.
Cash Connect® - data processing and operation expense, marketing expense, and certain other noninterest expenses, which includes external funding costs.
Wealth and Trust - data processing and operation expense, marketing expense, FDIC expense, loan workout and other credit costs, and certain other noninterest expenses.
The following table shows significant components of segment net assets as of September 30, 2026 and December 31, 2025:
September 30, 2026December 31, 2025
(Dollars in thousands)WSFS Bank
Cash
Connect®
Wealth
and Trust		TotalWSFS Bank
Cash
Connect®
Wealth
and Trust		Total
Statements of Financial Condition
Cash and cash equivalents$1,532,823 $345,945 $51,489 $1,930,257 $1,296,675 $355,854 $46,625 $1,699,154 
Goodwill753,586 — 131,638 885,224 753,586 — 131,638 885,224 
Other segment assets18,750,486 6,759 539,033 19,296,278 18,214,198 7,827 507,673 18,729,698 
Total segment assets$21,036,895 $352,704 $722,160 $22,111,759 $20,264,459 $363,681 $685,936 $21,314,076