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 Bank is launching its annual Fall/Winter Food Drive, encouraging donations of nonperishable food items to combat food insecurity exacerbated by the pandemic. The drive runs through December 11 in Pennsylvania and New Jersey, and until December 31 in Delaware, with designated collection points at WSFS banking locations. Over 54 million people are estimated to be food insecure in 2020, with Delaware’s rate at 17.8%. WSFS aims to support local organizations and has previously donated nearly 66,000 pounds of food in 2019.
WSFS Bank, a subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), announced the expansion of its Commercial Banking team in the Greater Philadelphia area. This strategic move involves the addition of experienced bankers, including Patrick Fisher, who will lead the team. With over 40 years of combined experience in the banking sector, the new team members aim to enhance WSFS's market presence and support local businesses. As of September 30, 2020, WSFS Financial Corporation reported $13.8 billion in assets and $23.1 billion in assets under management.
WSFS Financial Corporation announced its third-quarter financial results for 2020, reporting net income of $51.1 million and diluted earnings per share (EPS) of $1.01. While net interest income decreased to $113.0 million, core pre-provision net revenue (PPNR) rose to $68.0 million, reflecting solid business performance. Customer deposits increased by 25% year-over-year, totaling $11.1 billion, bolstered by COVID-19 stimulus effects. The Board approved a quarterly dividend of $0.12 per share and the resumption of share repurchases, reflecting confidence in the company's healthy capital position.
WSFS Financial Corporation (Nasdaq: WSFS) plans to announce its third quarter earnings on October 22, 2020, with a conference call scheduled for October 23, 2020, at 1:00 p.m. EDT. As of June 30, 2020, the company reported $13.6 billion in assets and $20.8 billion in assets under management. Founded in 1832, WSFS Bank is the oldest and largest locally managed bank in Delaware and the greater Philadelphia region, operating 115 offices across several states, offering a wide range of financial services.
WSFS Bank has pledged $35,500 to provide laptops, tablets, and internet devices for students from low-to-moderate income families, addressing the technology gap exacerbated by the pandemic. The funds will assist organizations including United Way of Delaware and KIPP School in Camden, NJ. This initiative aligns with WSFS's commitment to support education and the community, following previous donations totaling $500,000 for COVID-19 relief. The Community Foundation aims to enhance public education and economic growth in underserved areas.
WSFS Financial Corporation (NASDAQ: WSFS) will participate in the virtual Stephens Bank Forum on September 23-24, 2020. Key executives, including Chairman Rodger Levenson and CFO Dominic C. Canuso, will engage in one-on-one meetings with analysts and investors. The company will also present its 2Q 2020 Investor Presentation, available on their website. As of June 30, 2020, WSFS reported $13.6 billion in assets and $20.8 billion in assets under management, operating 115 offices across multiple states.
WSFS Bank has appointed Scott H. Kintzing as Senior Vice President and Senior Relationship Manager for Commercial Banking, focusing on the Southern New Jersey market. Kintzing brings over 45 years of experience in commercial lending and business development, having previously held senior roles at Investors Bank and Fulton Financial Corporation. The move aims to enhance WSFS's commercial lending capabilities in the region, aligning with the bank's commitment to supporting local economic growth.
WSFS Bank has appointed Michael L. Conklin as the new Executive Vice President and Chief Human Resources Officer. He will focus on talent transformation and culture development. Rodger Levenson, CEO, emphasized the importance of WSFS Associates and culture as drivers of success. Conklin brings over 25 years of HR experience from US Bank and Pentair. The transition aligns with succession planning as Chief Associate and Customer Experience Officer Peggy Eddens prepares for retirement. WSFS Financial Corporation, as of June 30, 2020, reported $13.6 billion in assets.
Kroll Bond Rating Agency has reaffirmed WSFS Financial Corporation's (NASDAQ: WSFS) credit ratings, maintaining a senior debt rating of A-, subordinated debt rating of BBB+, and a short-term debt rating of K2. WSFS Bank also earned high ratings, including A ratings for senior unsecured debt and deposits. The reaffirmation reflects the company's strong balance sheet and diversified fee-based solutions, especially in wealth management. As of June 30, 2020, WSFS had $13.6 billion in assets and $20.8 billion in assets under management, with a well-positioned market presence.
WSFS Bank has appointed Salvatore J. Patti as Senior Vice President, Director of Commercial Banking and Wealth Client Management for Greater Philadelphia. Patti brings 30 years of banking experience, most recently serving at PNC Wealth Management. His role will focus on enhancing WSFS's brand and market share in the region. WSFS Financial Corporation currently manages $13.6 billion in assets, with extensive financial services across 115 offices in multiple states. Patti's community involvement includes leadership positions with various local organizations.