Wsfs Finl Corp Stock Price, News & Analysis

WSFS Financial (NASDAQ: WSFS) has announced the call of $70 million fixed-to-floating rate subordinated notes due 2027, which were previously acquired from Bryn Mawr Trust. The company utilized its operating cash flows to repay these 2027 Notes.

According to David Burg, WSFS' Executive Vice President and Chief Financial Officer, the company's robust capital and liquidity positions enabled them to pay off liabilities with higher funding costs, aligning with their balance sheet strategy of optimizing debt and collateral.

WSFS Bank (Nasdaq: WSFS) has announced a strategic partnership with Greenlight Financial Technology to enhance financial literacy among young people. Through this collaboration, WSFS Bank clients will receive complimentary access to Greenlight's family finance app, which provides hands-on financial experience for kids and teens.

The partnership integrates Greenlight's debit card and app solution, which is currently used by over six million families. The platform offers features including parental supervision, allowance automation, chore management, spending controls, and real-time transaction notifications. Additionally, children can access Greenlight Level Up™, an in-app financial literacy game featuring educational challenges and rewards.

This initiative aligns with WSFS Bank's mission of empowering clients to make informed financial choices, extending their commitment to financial education beyond their existing community teaching programs.

WSFS Bank, subsidiary of WSFS Financial (Nasdaq: WSFS), has appointed Chris Ballard as Senior Vice President, Director of Total Rewards. Ballard will report to Lisa Brubaker, Executive Vice President and Chief Human Resources Officer, and will be responsible for developing and implementing comprehensive total rewards strategy while overseeing compensation, benefits and wellbeing, payroll, and HRIS functions.

Ballard brings nearly 20 years of Human Resources experience, including 15 years at UGI , where he most recently served as Vice President of Total Rewards and HR Services. He holds a B.A. in Business Administration with a minor in Human Resources Management from Gwynedd Mercy University.

WSFS Bank has announced its 2025 Down Payment Grant Program with a $1.5 million commitment to support homeownership accessibility. The program, which has provided over $4 million in grants since its inception three years ago, offers qualified borrowers up to $5,000 in down payment and/or closing costs assistance.

Key features include no required repayment for grant funds, flexible guidelines, homebuyer education programs, and the ability to combine with other programs like the WSFS Neighborhood Opportunity Program. Eligibility requires household income at or below 100% of the Area Median Income (AMI) and property location in Majority-Minority Census Tracts within specified counties in the Greater Philadelphia and Delaware region.

Bryn Mawr Trust, a subsidiary of WSFS Financial (Nasdaq: WSFS), has expanded its presence in Bucks County, Pennsylvania with a new office in Doylestown and the addition of four experienced wealth advisory professionals from Truist Wealth. The new team includes Brandon McFadden as Senior VP and Wealth Director, Jim Fisher and Chris Freddo as Senior VPs and Senior Investment Advisors, and Heather Weinhold as Senior Financial Associate.

McFadden brings seven years of experience managing Truist's wealth management business in Bucks and Montgomery County markets. Fisher has previously held leadership roles at Wilmington Trust and Univest , while Freddo brings 24 years of experience in strategic credit and risk management. Weinhold contributes 25 years of client support experience from Truist Wealth.

This expansion represents a significant step in Bryn Mawr Trust's regional growth strategy, enhancing its wealth management, private banking, and investment services offerings.

WSFS Bank has appointed Kathryn Bittner as Senior Vice President, Chief Operating Officer of Commercial Banking. Bittner, who joined WSFS in 2022 during the Bryn Mawr Trust integration, will report to James Wechsler, Executive Vice President and Chief Commercial Banking Officer. In her new role, she will oversee operations, finance, sales strategy, and the credit development program for Commercial Banking.

Bittner brings over 30 years of banking experience, including leadership positions at M&T, Citizens, and Mellon. She succeeds Wechsler, who was promoted to Chief Commercial Banking Officer effective January 1, 2025. The appointment demonstrates WSFS' commitment to developing internal talent for driving innovation and growth.

WSFS Financial reported strong Q4 2024 financial results with earnings per share of $1.09 and core EPS of $1.11. Key highlights include:

- Net interest margin of 3.80%, up from 3.78% in Q3 2024
- Customer deposits increased 4% from Q3 2024 and 4% year-over-year
- Record fee revenue in Wealth and Trust division with 12% YoY growth
- Total net credit costs decreased to $8.7 million from $20.1 million in Q3 2024
- Full-year 2024 performance showed core EPS of $4.39 and core ROA of 1.26%

The company repurchased 393,238 shares at an average price of $53.27 per share, totaling $20.9 million. For the full year 2024, WSFS repurchased 2,049,739 shares (3% of outstanding shares) at an average price of $46.55, returning $95.4 million to shareholders.

WSFS Bank's new survey of 597 small business decision-makers reveals a positive outlook for 2025, with 60% expecting revenue growth despite recent economic challenges. The survey, focused on businesses with annual revenues up to $5 million, shows owners planning key investments in equipment (26%), working capital (25%), and expansions (24%).

The past two years presented significant challenges, with businesses citing inflation (59%), cost of living crisis (45%), and recession fears (31%) as primary concerns. In response, 54% cut non-essential spending and 27% sought more affordable suppliers.

Regarding banking relationships, 53% use large national banks, while 29% prefer regional banks. Business owners primarily seek assistance with credit cards (53%), cash flow management (38%), and growth capital (36%). The survey indicates a preference for in-person meetings for complex services like business planning (66%) and lending (62%), while showing flexibility for routine services.

WSFS Financial (Nasdaq: WSFS) has announced its schedule for reporting fourth quarter and full-year 2024 financial results. The company will release its earnings report after market close on Monday, January 27, 2025. Management will host a conference call to discuss the results on Tuesday, January 28, 2025, at 1:00 p.m. Eastern Time.

Investors and interested parties can access the conference call through advance registration or live streaming at investors.wsfsbank.com. The earnings release and supplemental materials will be available on the company's Investor Relations website section before the call. Participants are recommended to log in 15 minutes before the broadcast. A replay of the conference call will be made available shortly after the event.