Welcome to our dedicated page for Wsfs Finl news (Ticker: WSFS), a resource for investors and traders seeking the latest updates and insights on Wsfs Finl stock.
WSFS Financial Corporation (Nasdaq: WSFS) is a multibillion-dollar financial services company and the parent of WSFS Bank, which it describes as the oldest and largest locally headquartered bank and wealth management franchise in the Greater Philadelphia and Delaware region. This news page aggregates company-issued updates, giving readers a single place to review recent announcements and disclosures about WSFS and its banking and wealth management activities.
Visitors to this page can find earnings-related news, including press releases that WSFS files and furnishes via Form 8-K to report quarterly results and provide earnings release supplements and investor presentations. These items offer insight into the company’s financial condition and the information management presents to investors and analysts.
The feed also includes capital markets announcements, such as the company’s public offering of 5.375% Fixed-to-Floating Rate Senior Unsecured Notes due 2035 and related pricing and completion updates. These releases describe the terms of the notes, the intended use of proceeds and the associated SEC registration materials.
In addition, readers can see corporate governance and leadership news, for example the appointment of a new member to the WSFS Board of Directors, as well as community and philanthropic updates from the WSFS CARES Foundation. Recent items highlight grants to organizations focused on affordable housing, food insecurity and family homelessness, along with information about associate volunteer efforts such as We Stand for Service Day.
By reviewing this news page regularly, investors and other interested parties can follow WSFS Financial Corporation’s official communications on financial performance, capital raising, board composition and community initiatives, all sourced from company press releases and related disclosures.
On February 1, 2022, WSFS Bank announced the promotion of three Associates within its Commercial, Small Business, and Retail Lending divisions. Jim Wechsler becomes Senior Vice President and COO of Commercial Banking, bringing over 11 years of experience at WSFS. Candice Caruso is now Senior Vice President and Chief Retail Lending Officer, responsible for Consumer Lending and fintech partnerships. Anthony Ryan takes on the role of Senior Vice President, leading Small Business Operations and Retail Loan Servicing. WSFS focuses on Associate growth and strategic operations.
WSFS Bank's CARES Foundation donated over $2 million in grants to 349 organizations across Delaware, New Jersey, and Pennsylvania in 2021. This philanthropic effort aims to enhance community opportunities through several key areas: community investments, affordable housing, and education. Notable beneficiaries include organizations like Good Neighbors Home Repair and UrbanPromise, emphasizing the Foundation's commitment to community support and development. WSFS Bank, founded in 1832, continues its legacy as a leading financial institution in the region.
WSFS Financial Corporation (Nasdaq: WSFS) reported its fourth quarter 2021 financial results, showing net income of $56.3 million and earnings per share of $1.18. Net interest income was $108.2 million, down from $123.0 million year-over-year. Core fee revenue increased to $46.0 million, reflecting a strong performance in fee-generating businesses. The company received final regulatory approval for its acquisition of Bryn Mawr Trust, which closed on January 1, 2022, and is expected to enhance market position. Net loan and lease portfolio decreased by $91 million from the prior quarter.
WSFS Institutional Services®, a division of WSFS Bank, has climbed to the fourth position as a trustee for U.S. Asset and Mortgage-Backed Securities in 2021, increasing its market share from 6.3% to 10.3%, a significant 64% rise. The issuance volume surged by 156% compared to the previous year. Key services include trustee and agent roles in asset-backed securities and corporate debt. WSFS is committed to enhancing its offerings through advanced technology like eVault, solidifying its growth strategy in the financial services sector.
WSFS Bank has announced the promotions of three Associates: Robert Eastwood as Senior Vice President, Chief Information Security Officer; Jeremy Shackleford as Senior Vice President, Director of Small Business Sales; and Carolyn Urbanovich as Vice President, Regional Manager for the Greater Philadelphia Market. These promotions reflect WSFS's commitment to professional development. Eastwood will enhance cybersecurity efforts, Shackleford will boost small business sales, and Urbanovich will oversee retail operations in Philadelphia. WSFS Financial Corporation boasts $15.4 billion in assets.
WSFS Financial Corporation has appointed Brian J. Taylor as Senior Vice President and Wealth Director for Bryn Mawr Trust Wealth Management in Princeton, N.J.. Taylor, who has over 25 years of wealth management experience, will focus on new business, community visibility, and brand development. This announcement follows the recent merger of WSFS and Bryn Mawr Bank Corporation. WSFS Financial reported $15.4 billion in assets and $27.6 billion in assets under management as of September 30, 2021.
WSFS Financial Corporation (Nasdaq: WSFS) announced it will report its fourth quarter earnings on January 24, 2022. A conference call for investors will follow on January 25, 2022, at 1:00 p.m. ET for a detailed review of the earnings report. As of September 30, 2021, WSFS Financial had $15.4 billion in assets and $27.6 billion in assets under management. Established in 1832, it operates 112 offices across several states, providing diverse financial services.
WSFS Financial Corporation announced a $15 million settlement that positively impacts its earnings per share (EPS) by approximately $0.23 for Q4 2021. This resolution stems from litigation related to the 2010 purchase of Christiana Bank & Trust Company. The company aimed to enforce indemnity from the stock purchase agreement and recover amounts from a previous arbitration with Universitas Education, LLC. The current settlement, along with an earlier recovery of $8 million, covers all litigation costs and recoups a total of $12 million paid to Universitas.
WSFS Financial Corporation has successfully completed the acquisition of Bryn Mawr Bank Corporation and its subsidiary, Bryn Mawr Trust, effective January 1, 2022. This strategic move enhances WSFS's position in the Greater Philadelphia and Delaware region, increasing its assets to approximately $20 billion and assets under administration to about $49 billion. Key appointments to the Board of Directors include Frank J. Leto, Lynn B. McKee, and Diego F. Calderin, who are expected to contribute valuable insights. Customers can expect a seamless transition until late Q1 2022 when systems integration is anticipated.
WSFS Financial Corporation (WSFS) announced that it has received all necessary approvals to acquire Bryn Mawr Bank Corporation (BMTC), with the merger expected to close on January 1, 2022. The Federal Reserve granted the final regulatory approval, following overwhelming support from shareholders of both companies. Following the merger, WSFS aims to create a premier banking and wealth management franchise in the Greater Philadelphia and Delaware region. Both banks will operate separately until a systems integration is completed in late Q1 2022, providing customers access to a combined ATM network of over 600 locations.