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 (WSFS) maintains this dedicated news hub for investors and stakeholders tracking its community banking, cash logistics, and wealth management developments. Access official press releases and curated updates covering strategic initiatives across all business segments.
This resource provides essential information about WSFS Bank's regional operations, Cash Connect's cash management innovations, and Wealth Management's advisory services. Find timely updates on financial results, leadership changes, and community partnership announcements.
Key content includes earnings reports, merger activity, technology implementations, and regulatory filings. Our editorial team verifies all information directly from WSFS sources to ensure accuracy and compliance with financial disclosure standards.
Bookmark this page for streamlined access to WSFS's latest developments. For comprehensive understanding of the company's 190-year legacy in financial services, combine these updates with our detailed WSFS Financial Corp profile.
WSFS Financial Corporation (Nasdaq: WSFS) reported strong financial results for Q1 2021. Net income attributable to WSFS reached $65.1 million, up from $10.9 million YoY, with diluted EPS of $1.36. Total net revenue was $162 million. The company released $24 million from its allowance for credit losses, reflecting improved credit quality. Core fee revenue grew 20% year-over-year to $47.5 million. An 8% increase in the quarterly cash dividend to $0.13 per share was announced, payable on May 21, 2021.
WSFS Financial Corporation (Nasdaq: WSFS) announced it will report its first quarter earnings on April 22, 2021, followed by a conference call at 1:00 p.m. EDT on April 23, 2021. Interested individuals can join the call by dialing 1-877-312-5857 and using conference ID # 4169716. A rebroadcast will be available from April 23 to May 4, 2021. As of December 31, 2020, WSFS Financial had $14.3 billion in assets and $24.2 billion in assets under management, operating 112 offices across multiple states.
WSFS Financial Corporation has announced the opening of its new banking office in Media, PA. The Granite Run office features modern banking pods aimed at enhancing customer service. Located strategically on the Route 1 corridor, this new office extends WSFS's presence in Delaware County. The office operates six days a week, providing comprehensive banking services to local communities. As of December 31, 2020, WSFS Financial Corporation holds $14.3 billion in assets, with 112 offices across multiple states.
Kroll Bond Rating Agency (KBRA) has affirmed the ratings of WSFS Financial Corporation (NASDAQ: WSFS) following its announced merger with Bryn Mawr Bank Corporation (NASDAQ: BMTC). KBRA described the merger as a strategically sound scale play, enhancing WSFS's market position. WSFS will have the highest deposit market share among regional banks in the Philadelphia area post-merger. The affirmation includes strong ratings for both WSFS and Bryn Mawr. The acquisition is set to close in Q4 2021, with a stable outlook for both companies.
WSFS Financial Corporation and Bryn Mawr Bank Corporation announced a definitive merger agreement valued at approximately $976.4 million. After the merger, WSFS will enhance its market position in the Greater Philadelphia and Delaware region with nearly $20 billion in assets and a $43 billion wealth management business. Bryn Mawr stockholders will receive 0.90 shares of WSFS stock for each share, equating to an implied value of $48.55 per share. WSFS expects annual cost synergies of $73 million and the merger to be accretive to earnings per share in 2022.
WSFS Bank has announced an $850,000 contribution to the Educational Improvement Tax Credit (EITC) and Opportunity Scholarship Tax Credit (OSTC)
The WSFS Mortgage Regional Study reveals that 59% of residents in the Greater Philadelphia and Delaware area find it affordable, with over half considering Philadelphia for future home purchases. The study highlights a significant preference for suburban living, especially among younger generations. However, concerns arise from dwindling inventory, with 69% believing the middle class is being priced out of the market. Confidence in affording a home has decreased by 10% from the previous year, despite a belief in job market improvement. The study surveyed 782 participants, offering insights into shifting residential trends influenced by the pandemic.
Sandra Whalen joins WSFS Institutional Services as Senior VP, Business Development Officer, reporting to Arthur J. Bacci, Executive VP and Chief Wealth Officer. Her focus is on enhancing client relationships and product development. With over 30 years in corporate trust management, Whalen previously held a senior role at Wells Fargo. Bacci expressed enthusiasm over her expertise, expecting her to drive results within the Trust Division.
WSFS Bank, the primary subsidiary of WSFS Financial Corporation, manages $24.2 billion in assets and operates across five states.
WSFS Financial Corporation (Nasdaq: WSFS) announced its inclusion in the S&P SmallCap 600 Index, effective March 1, 2021. This designation reflects the company's strong financial performance and market capitalization. Dominic C. Canuso, CFO, emphasized the importance of this milestone, highlighting it as an affirmation of WSFS's commitment to long-term growth and community service. As of December 31, 2020, WSFS reported $14.3 billion in assets and $24.2 billion in assets under management, operating 112 offices across several states.
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