GOODWILL AND INTANGIBLE ASSETS (Tables)
|
9 Months Ended |
Sep. 30, 2026 |
|---|
| Intangible Asset, Goodwill and Other [Abstract] |
|
| Schedule of Allocation of Goodwill to our Reportable Operating Segments for Purposes of Goodwill Impairment Testing |
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.
|
| Intangible Asset, Finite-Lived |
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 relationships | 65,329 | | | (25,257) | | | 40,072 | | | 7-15 years | | | | | | | | | Loan servicing rights(1) | 11,484 | | | (7,867) | | | 3,617 | | | 10-25 years | | Tradename | 2,900 | | | — | | | 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 relationships | 68,270 | | | (24,620) | | | 43,650 | | | 7-15 years | Loan servicing rights(2) | 11,527 | | | (7,064) | | | 4,463 | | | 10-25 years | | Tradename | 2,900 | | | — | | | 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.
|
| Intangible Asset, Indefinite-Lived |
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 relationships | 65,329 | | | (25,257) | | | 40,072 | | | 7-15 years | | | | | | | | | Loan servicing rights(1) | 11,484 | | | (7,867) | | | 3,617 | | | 10-25 years | | Tradename | 2,900 | | | — | | | 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 relationships | 68,270 | | | (24,620) | | | 43,650 | | | 7-15 years | Loan servicing rights(2) | 11,527 | | | (7,064) | | | 4,463 | | | 10-25 years | | Tradename | 2,900 | | | — | | | 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.
|
| Schedule of Estimated Amortization Expense of Intangibles |
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 | | | 2027 | 15,091 | | | 2028 | 14,414 | | | 2029 | 7,171 | | | 2030 | 5,627 | | | Thereafter | 23,846 | | | Total | $ | 69,987 | |
|