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.
WSFS Financial Corporation (Nasdaq: WSFS) reported its 3Q 2021 financial results, showing a net income of $54.4 million, up from $51.1 million in 3Q 2020. However, net interest income declined to $104.5 million, an 8% decrease from the previous year. The Common Equity Tier 1 capital ratio improved to 14.59%. Despite a decrease in loan balances, customer deposits increased by 14% year-over-year, totaling $12.7 billion. The company is progressing with its acquisition of Bryn Mawr Bank Corporation, which is expected to boost growth opportunities.
WSFS Bank has appointed Shari Kruzinski as Executive Vice President and Chief Customer Officer, reporting to Rodger Levenson. Kruzinski will lead the bank's Customer division and oversee retail operations, ensuring customer needs are prioritized as the bank grows. She has over 30 years of banking experience, having started at WSFS in 1989. This leadership change follows Peggy Eddens' upcoming retirement after 14 years with the company. WSFS Financial Corporation has $15.1 billion in assets and serves the Greater Delaware Valley.
WSFS Financial Corporation (Nasdaq: WSFS) is set to announce its third quarter earnings on October 21, 2021, after market close. The management will hold a conference call on October 22, 2021, at 1:00 p.m. EDT to discuss the results, accessible by dialing 1-877-312-5857 with the conference ID #6366609. A rebroadcast will be available from October 22 to November 2, 2021. As of June 30, 2021, WSFS held $15.1 billion in assets and $26.7 billion in assets under management from 112 offices across several states.
WSFS Bank has partnered with Upstart to launch a new digital personal loans product aimed at enhancing customer access to tailored lending solutions. The collaboration combines Upstart's advanced AI technology with WSFS's longstanding community banking experience, enabling a more affordable and inclusive personal loan offering. As of June 30, 2021, WSFS Financial Corporation reported $15.1 billion in assets, serving a diverse client base across multiple states. This partnership aligns with WSFS's commitment to digital transformation in delivering better banking experiences.
WSFS Financial Corporation (Nasdaq: WSFS) will participate virtually in the 2021 Stephens Annual Bank Forum on September 22, 2021. The discussion will be hosted by Chairman and CEO Rodger Levenson and CFO Dominic C. Canuso. Presentation materials, including the current Investor Presentation, will be available on WSFS' website.
As of June 30, 2021, WSFS had $15.1 billion in assets and $26.7 billion in assets under management. The company operates 112 offices across several states, providing a range of financial services since 1832.
WSFS Bank has appointed John Ventura as Senior Vice President and Senior Private Banking Relationship Manager in its Wealth Private Banking division. Ventura brings over 15 years of experience from PNC Wealth Management, focusing on enhancing client relationships and providing financial strategies. His expertise includes private banking, financial planning, and asset management. As of June 30, 2021, WSFS Financial Corporation reported $15.1 billion in assets and $26.7 billion in assets under management. This appointment aims to bolster the bank's comprehensive financial service offerings.
WSFS Financial Corporation has received reaffirmed credit ratings from Kroll Bond Rating Agency (KBRA), maintaining its senior unsecured debt rating at A- and subordinated debt rating at BBB+. Notably, WSFS Bank also received strong ratings, reflecting its stable fee base and diversified business segments, particularly in wealth management. The company’s expansion through strategic mergers and acquisitions has enhanced its operational scale. As of June 30, 2021, WSFS reported $15.1 billion in assets, supporting its market position, which is set to strengthen following the closure of the Bryn Mawr Trust Corporation transaction.
WSFS Financial Corporation has received approval from the Office of the Comptroller of the Currency (OCC) for its merger with Bryn Mawr Bank Corporation. The transaction is expected to close in Q4 2021, pending regulatory approvals and other conditions. A system conversion and rebranding are scheduled for January 2022. Chairman and CEO Rodger Levenson expressed optimism about the merger, highlighting efforts from both companies to ensure a smooth integration for associates and customers.
WSFS Financial Corporation reported its 2Q 2021 results, revealing a decline in net interest income to $106.7 million from $113.8 million year-over-year. Total net revenue decreased to $155.8 million compared to $178.1 million in 2Q 2020. Significant gains were noted with a net income of $95.7 million, up from a loss of $7.1 million in the same period last year. The company also approved a quarterly cash dividend of $0.13 per share. WSFS showed improved credit metrics, with a $72.4 million decrease in the allowance for credit losses and strong growth in fee revenue, totaling $49 million.
According to a recent study by Cash Connect, a division of WSFS Bank, 81% of financial decision makers report cash payments have remained steady over the past five years.
Despite the rise of digital payment methods, 40% of consumers prefer cash, while 78% of businesses still accept it. Notably, 39% of businesses have a cash-only policy for purchases under $20. The study highlights a demand for cash management solutions, with 77% of decision makers considering smart safes for improved security and efficiency. Additionally, 51% of Americans believe cash helps with budgeting, particularly among Gen-Z consumers.