WSFS Reports 2Q 2026 EPS of $1.63 and ROA of 1.52%

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Key Terms

pre-provision net revenue (ppnr) financial

Pre-provision net revenue (PPNR) measures a bank’s core income after operating costs but before setting aside money for expected loan losses, taxes or extraordinary items. It shows how much cash the business generates from normal activities — like a household’s take-home income before putting money into an emergency fund — and matters to investors because higher PPNR means a bigger cushion to absorb loan losses and support future profits or dividend payments.

non-gaap financial measure financial

A non-GAAP financial measure is a way companies present their financial results that excludes certain expenses or income to show how they believe their core business is performing. It matters because it can give a clearer picture of how the company is really doing, but it can also be used to make results look better than they actually are.

net interest margin financial

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

loan-to-deposit ratio financial

Loan-to-deposit ratio measures how much a bank has lent out compared with the money customers have deposited, expressed as a percentage. Think of it like the share of a household’s savings that has been loaned to others: a higher ratio can boost earnings but reduce cash on hand and increase risk, while a lower ratio means more liquidity but potentially lower returns—key for investors assessing a bank’s balance of profit and safety.

allowance for credit losses financial

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

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07/23/2026 - 04:05 PM

Results Driven by Loan, Deposit, and Fee Revenue Growth
Fiduciary Assets Surpass $100 Billion

WILMINGTON, Del.--(BUSINESS WIRE)-- WSFS Financial Corporation (Nasdaq: WSFS), the parent company of WSFS Bank, today announced its financial results for the second quarter of 2026.

Selected financial results and metrics are as follows:

(Dollars in millions, except per share data)		2Q 2026			1Q 2026			2Q 2025
Net interest income	$	192.5		$	185.1		$	179.5
Fee revenue		90.0			90.1			88.0
Total net revenue		282.5			275.3			267.5
Provision for (recovery of) credit losses		5.0			(2.0	)		12.6
Noninterest expense		166.3			162.8			159.3
Net income attributable to WSFS		84.4			86.8			72.3
Pre-provision net revenue (PPNR)⁽¹⁾		116.2			112.5			108.2
Earnings per share (EPS) (diluted)		1.63			1.64			1.27
Return on average assets (ROA) (a)		1.52	%		1.61	%		1.39	%
Return on average equity (ROE) (a)		12.4			12.7			10.9
Fee revenue as % of total net revenue		31.8			32.7			32.8
Efficiency ratio		58.8			59.0			59.5
See “Notes”

GAAP results for the periods shown include items that are excluded from core results. Below is a summary of the financial effects of these items, which include an unrealized write-down of an equity investment and a gain on the sale of the credit card portfolio. For additional detail, refer to the Non-GAAP Reconciliation in the back of this press release.

	2Q 2026				1Q 2026				2Q 2025
(Dollars in millions, except per share data)	Total		Per share		Total		Per share		Total		Per share
Fee revenue (pre-tax)	$ (2.2	)	$ (0.04	)	$ —		$ —		$ —		$ —
Noninterest expense (pre-tax)	0.1		—		2.9		0.05		(0.3	)	(0.01	)
Income tax impacts	(0.5	)	(0.01	)	(0.6	)	(0.01	)	0.1		0.01
⁽¹⁾ As used in this press release, PPNR is a non-GAAP financial measure that adjusts net income determined in accordance with GAAP to exclude the impacts of (i) income tax provision and (ii) provision for (recovery of) credit losses. For a reconciliation of this and other non-GAAP financial measures to their most directly comparable GAAP measures, see "Non-GAAP Reconciliation" at the end of the press release.

CEO Commentary and Highlights

Rodger Levenson, Chairman, CEO and President, said, "WSFS performed well in the second quarter with a 31% year-over-year increase in core EPS⁽²⁾. Our results included robust growth in noninterest deposits, a double-digit year-over-year increase in Wealth and Trust fees, and solid loan growth. Asset quality continued to trend positively, with improvement across key metrics. Additionally, we continued to execute our capital return framework through dividends and share repurchases, repurchasing over four percent of outstanding shares⁽³⁾ in the first half of 2026. These results provide momentum for the second half of the year as reflected in our updated full-year outlook."

Overall highlights included:

Core EPS of $1.66 and core ROA⁽²⁾ of 1.55% in 2Q 2026, compared to $1.68 and 1.65%, respectively, in 1Q 2026.
- Excluding a previously disclosed $15.7 million loan recovery in 1Q 2026, core EPS⁽²⁾ increased 14% and core ROA⁽²⁾ increased 12bps compared to 1Q 2026.
Client deposits grew 3% quarter-over-quarter with noninterest demand growth of 10%, led by WSFS Institutional Services^®. Noninterest deposits now represent 37% of total client deposits.
C&I loans continued the recent trend with 2% quarter-over-quarter (8% annualized) growth.
Wealth and Trust continued to deliver double-digit fee growth, increasing 17% year-over-year.
- WSFS Institutional Services^® fees increased 34% and The Bryn Mawr Trust Company of Delaware (BMT of DE), our personal trust business, increased 20%.
- Fiduciary assets surpassed $100 billion as of June 30, 2026.
Repurchased $66.2 million of common stock (1.8% of outstanding shares⁽⁴⁾)and paid quarterly dividends of $10.4 million for a total capital return of $76.6 million.

⁽²⁾As used in this press release, core EPS, core ROA, core EPS excluding loan recovery, and core ROA excluding loan recovery are non-GAAP financial measures. These non-GAAP financial measures exclude certain pre-tax adjustments and the tax impact of such adjustments. For a reconciliation of non-GAAP financial measures to their most directly comparable GAAP measures, see "Non-GAAP Reconciliation" at the end of the press release.

⁽³⁾ First half of 2026 repurchases represent over four percent of outstanding shares as of December 31, 2025.

⁽⁴⁾2Q 2026 repurchases represent 1.8% of outstanding shares as of March 31, 2026.

Second Quarter 2026 Discussion of Financial Results

Balance Sheet

The following table summarizes loan and lease balances and composition at June 30, 2026 compared to March 31, 2026 and June 30, 2025:

Loans and Leases
(Dollars in millions)	June 30, 2026					March 31, 2026					June 30, 2025
Commercial & industrial (C&I)⁽⁵⁾	$	4,944		37	%	$	4,849		37	%	$	4,731		36	%
Commercial mortgage		3,884		29			3,882		30			3,911		30
Construction		1,003		7			1,034		7			858		7
Commercial small business leases		584		4			588		4			630		5
Total commercial loans and leases		10,415		77			10,353		78			10,130		78
Residential mortgage		1,271		10			1,127		9			1,016		8
Consumer		1,815		14			1,854		14			2,006		15
Gross loans and leases		13,501		101	%		13,334		101	%		13,152		101	%
Allowance for Credit Losses (ACL)		(177	)	(1	)		(180	)	(1	)		(186	)	(1	)
Net loans and leases	$	13,324		100	%	$	13,154		100	%	$	12,966		100	%

At June 30, 2026, WSFS’ gross loan and lease portfolio increased $167.0 million, or 1% (not annualized), when compared with March 31, 2026. Home Lending generated strong loan growth of 10%, and we continued to see momentum in C&I, which grew 2%. This overall growth reflects our continued investment in talent and product offerings, enhancing our ability to win market share and more effectively compete for a broader set of clients. During the quarter, we completed the sale of our credit card portfolio, which had an outstanding balance of $36.3 million, and entered into a strategic partnership to issue WSFS-branded credit cards. This sale, combined with the continued runoff of the Spring EQ portfolio, partially offset the loan growth in the quarter.

Gross loans and leases at June 30, 2026 increased 3% when compared with June 30, 2025. Excluding the impacts from the sales of the Upstart and credit card portfolios, and runoff of Spring EQ, gross loans and leases increased 5%. This growth was driven by increases in residential mortgage (25%), C&I (5%), and home equity (20%), partially offset by declines in commercial small business leases (7%) and commercial mortgages (1%).

⁽⁵⁾ Includes owner-occupied real estate.

The following table summarizes client deposit balances and composition at June 30, 2026 compared to March 31, 2026 and June 30, 2025:

Client Deposits
(Dollars in millions)	June 30, 2026				March 31, 2026				June 30, 2025
Noninterest demand	$	7,009	37	%	$	6,372	34	%	$	5,306	31	%
Interest-bearing demand		2,878	15			2,848	15			2,806	16
Savings		1,352	7			1,418	8			1,452	9
Money market		5,894	31			5,909	33			5,471	32
Total core deposits		17,133	90			16,547	90			15,035	88
Time deposits		1,871	10			1,921	10			2,086	12
Total client deposits	$	19,004	100	%	$	18,468	100	%	$	17,121	100	%

Total client deposits increased $535.1 million, or 3% (not annualized), when compared with March 31, 2026. Noninterest demand increased 10%, primarily led by Institutional Services, and now represents 37% of total client deposits. Savings decreased 5% and time deposits decreased 3%. End of period deposit balances continued to reflect some elevated quarter-end activity by clients within Institutional Services and Commercial. Overall, we continue to see strong deposit growth momentum, with average deposits also growing 3%.

Total client deposits increased $1.9 billion, or 11% from June 30, 2025. Noninterest demand increased 32%, driven by growth in Institutional Services and Commercial. Money market grew 8%, driven by growth across all business lines, while time deposits decreased 10% as we continued to manage our deposit pricing.

The deposit base remains well-diversified, with 54% of quarterly average client deposits coming from the Commercial, Small Business Banking, and Wealth and Trust businesses. No- and low-cost deposit accounts⁽⁶⁾ represented 58% of average total client deposits with a weighted average cost of 28bps for the quarter. The loan-to-deposit ratio⁽⁷⁾ was 70% at June 30, 2026, providing capacity to fund ongoing loan growth.

⁽⁶⁾Includes noninterest demand, interest-bearing demand, and savings deposit accounts.

⁽⁷⁾ Ratio of net loans and leases to total client deposits.

Net Interest Income

	Three Months Ending
(Dollars in millions)		June 30, 2026			March 31, 2026			June 30, 2025
Net interest income before purchase accretion		$	190.9		$	183.5		$	177.5
Purchase accounting accretion			1.6			1.6			2.0
Net interest income		$	192.5		$	185.1		$	179.5

Net interest margin before purchase accretion			3.84	%		3.80	%		3.84	%
Purchase accounting accretion			0.03			0.03			0.05
Net interest margin			3.87	%		3.83	%		3.89	%

Net interest income increased $7.4 million, or 4% (not annualized), compared to 1Q 2026, primarily driven by higher average loan balances as well as higher investment securities and yields.

Net interest income increased $13.0 million, or 7%, compared to 2Q 2025, primarily driven by lower deposit costs, higher cash balances, and higher average loan balances. These increases were partially offset by lower loan yields as a result of three 25bp Federal Funds rate cuts that occurred in 2025.

Total loan yields were 6.24%, a decrease of 3bps when compared to 1Q 2026 and a decrease of 36bps when compared to 2Q 2025. The year-over-year decrease was primarily driven by the impact of the aforementioned interest rate cuts.

Total client deposit costs were 1.29% and interest-bearing deposit costs were 2.00%, decreases of 4bps and 1bp, respectively, compared to 1Q 2026. Total client deposit costs decreased 34bps and interest-bearing deposit costs decreased 38bps compared to 2Q 2025. The quarter-over-quarter decrease in total client deposit costs was driven by a continued shift in the mix of deposits, with higher noninterest balances, and the year-over-year decrease was driven by deposit repricing actions and mix shift.

Net interest margin of 3.87% increased 4bps compared to 1Q 2026, primarily due to the impacts from the investment portfolio and deposit mix noted above. Net interest margin decreased 2bps from 2Q 2025 primarily due to the impact of the 2025 interest rate cuts, partially offset by higher investment yields and favorable balance sheet mix.

Asset Quality

(Dollars in millions)	June 30, 2026			March 31, 2026			June 30, 2025
Problem assets⁽⁸⁾	$	472.9		$	503.9		$	683.1
Delinquencies (n)		95.6			100.7			158.0
Nonperforming assets (n)		81.0			87.8			106.2
Net charge-offs (recoveries) on loans and leases		7.1			(3.5	)		9.8
Total net credit costs (q)		7.1			0.2			14.3
Problem assets to total Tier 1 capital plus ACL on loans and leases		19.48	%		20.71	%		29.83	%
Classified assets to total Tier 1 capital plus ACL on loans and leases		16.96			17.19			21.60
Ratio of nonperforming assets to total assets (n)		0.36			0.40			0.51
Delinquencies (n) to gross loans (i)		0.71			0.76			1.22
Ratio of quarterly net charge-offs (recoveries) to average gross loans		0.21			(0.11	)		0.30
Ratio of allowance for credit losses to total loans and leases (p)		1.32			1.36			1.43
Ratio of allowance for credit losses to nonaccruing loans (n)		260			240			177
See “Notes”

Leading indicators of asset quality continued to trend downward, with a decrease in problem assets of $31.0 million compared to March 31, 2026, driven by several commercial payoffs. Delinquencies also decreased $5.1 million, or 5bps of gross loans, compared to March 31, 2026, driven by a reduction in consumer delinquencies. Problem assets decreased 31% and delinquencies decreased 39% compared to June 30, 2025.

Nonperforming assets (NPAs) decreased $6.9 million, or 4bps of total assets compared to March 31, 2026. The decrease in NPAs was primarily driven by the payoff of a multifamily loan. NPAs are down 24% compared to June 30, 2025.

Total net credit costs were $7.1 million. Excluding the impacts of a previously disclosed recovery in 1Q 2026, total net credit costs⁽⁹⁾ decreased $8.7 million when compared to 1Q 2026. This decrease was primarily driven by lower net Commercial charge-offs and a release of ACL, due to the sale of the credit card portfolio and lower loss experience in Consumer.

Net charge-offs for the quarter were $7.1 million. Excluding the impacts of the prior quarter recovery, net charge-offs⁽⁹⁾ decreased $5.1 million, or 16bps (annualized) of average gross loans, driven by lower commercial charge-offs.

The ACL on loans and leases was $177.3 million as of June 30, 2026, a decrease of $2.7 million when compared to March 31, 2026, and the ACL coverage ratio decreased 4bps to 1.32%.

⁽⁸⁾ Problem assets includes all criticized, classified, and nonperforming loans as well as other real estate owned (OREO).

⁽⁹⁾As used in this press release, adjusted total net credit costs and adjusted net charge-offs are non-GAAP financial measures. These non-GAAP financial measures exclude the impact of payments for a loan charged-off during the first quarter of 2025. For a reconciliation of non-GAAP financial measures to their most directly comparable GAAP measures, see "Non-GAAP Reconciliation" at the end of the press release.

Core Fee Revenue⁽¹⁰⁾

Core fee revenue (noninterest income) of $92.2 million increased $2.1 million, or 2%, compared to 1Q 2026. The increase was driven by a 5% increase in Wealth and Trust, primarily due to growth across WSFS Institutional Services^® and BMT of DE (personal trust), as well as increases in Capital Markets and Cash Connect^®. These increases were partially offset by decreases in gains on sale of mortgage and SBA loans as we retained more of our originated loans.

Core fee revenue increased $4.2 million, or 5%, compared to 2Q 2025. The increase was driven by a 17% increase in Wealth and Trust as well as an increase in Capital Markets. The increase in Wealth and Trust included 34% growth in WSFS Institutional Services^®,driven by both Corporate Trust and Global Capital Markets, and 20% growth in BMT of DE. These increases were partially offset by a $2.3 million decrease due to the final Spring EQ earnout recognized in 2025 and a $2.1 million decrease in Cash Connect^®, primarily due to the impact of interest rate cuts and lower ATM volumes.

For 2Q 2026, our core fee revenue ratio⁽¹⁰⁾ was 32.3% compared to 32.7% in 1Q 2026 and 32.8% in 2Q 2025. Fee revenue diversification is a differentiator with further growth opportunities expected.

⁽¹⁰⁾ As used in this press release, core fee revenue and core fee revenue ratio are non-GAAP financial measures. These non-GAAP financial measures exclude certain pre-tax adjustments and the tax impact of such adjustments. For a reconciliation of these and other non-GAAP financial measures to their most directly comparable GAAP measures, see "Non-GAAP Reconciliation" at the end of the press release.

Core Noninterest Expense⁽¹¹⁾

Core noninterest expense of $166.2 million increased $6.3 million, or 4% (not annualized), compared to 1Q 2026. The increase is due to higher salaries and benefits, driven by the impact of performance-based incentives (which accounted for more than half of the increase) and medical costs, as well as increases in external fraud losses and professional fees. These increases were partially offset by a decrease in occupancy expense.

Core noninterest expense increased $6.6 million, or 4%, compared to 2Q 2025. The increase was primarily driven by higher salaries and benefits due to the reasons noted above, external fraud losses, and a one-time insurance recovery of $1.6 million in 2Q 2025. These increases were partially offset by a $2.7 million decrease in Cash Connect^® external funding costs due to lower rates and ATM volume as well as lower professional fees.

Our core efficiency ratio⁽¹¹⁾ was 58.3% in 2Q 2026, compared to 58.0% in 1Q 2026 and 59.6% in 2Q 2025, reflecting our focus on expense discipline while continuing to invest in the franchise.

Income Taxes

We recorded a $26.8 million income tax provision in 2Q 2026, compared to $27.6 million in 1Q 2026 and $23.3 million in 2Q 2025. The changes in income tax provision compared to 1Q 2026 and 2Q 2025 were primarily due to changes in income before taxes.

The effective tax rate was 24.1% in 2Q 2026 compared to 24.1% in 1Q 2026 and 24.4% in 2Q 2025. The decrease in effective tax rate compared to 2Q 2025 is primarily due to increased federal tax credits.

⁽¹¹⁾ As used in this press release, core noninterest expense and core efficiency ratio are non-GAAP financial measures. These non-GAAP financial measures exclude certain pre-tax adjustments and the tax impact of such adjustments. For a reconciliation of these and other non-GAAP financial measures to their most directly comparable GAAP measures, see "Non-GAAP Reconciliation" at the end of the press release.

Capital Management

Capital ratios remain strong and are all substantially in excess of the “well-capitalized” regulatory benchmarks at June 30, 2026, with a Common Equity Tier 1 capital ratio and Tier 1 capital ratio of 13.76%, Tier 1 leverage ratio of 10.35%, and Total Risk-based capital ratio of 15.47%.

WSFS’ total stockholders’ equity decreased $2.7 million, or less than 1%, during 2Q 2026. The decrease was primarily due to capital returns to stockholders of $76.6 million and an increase in accumulated other comprehensive loss of $12.1 million, driven by market-value decreases on available-for-sale investment securities, partially offset by quarterly earnings of $84.4 million.

WSFS’ tangible common equity⁽¹²⁾ increased $1.2 million, or less than 1%, compared to March 31, 2026, primarily due to a decrease in intangible assets from scheduled amortization. WSFS’ common equity to assets ratio decreased 31bps to 12.01% and tangible common equity to tangible assets ratio⁽¹²⁾decreased 21bps to 8.11% at June 30, 2026.

At June 30, 2026, book value per share was $52.97, an increase of $0.73, or 1% (not annualized), from March 31, 2026, and tangible book value per share⁽¹²⁾ was $34.24, an increase of $0.53, or 2% (not annualized), from March 31, 2026. Book value per share increased $5.26, or 11%, and tangible book value per share increased $3.92, or 13%, compared to 2Q 2025.

During 2Q 2026, WSFS repurchased 923,948 shares of common stock for an aggregate of $66.2 million and paid quarterly cash dividends of $10.4 million. Total capital returns to stockholders through share repurchases and quarterly dividends was $76.6 million. WSFS has 9,200,029 shares, or approximately 18% of outstanding shares as of June 30, 2026, available for repurchase.

The Board of Directors approved a quarterly cash dividend of $0.20 per share of common stock. The dividend will be paid on August 21, 2026 to stockholders of record as of August 7, 2026.

⁽¹²⁾As used in this press release, tangible common equity, tangible common equity to tangible assets ratio, and tangible book value per share are non-GAAP financial measures. These non-GAAP financial measures exclude goodwill and intangible assets and the related tax-effected amortization. For a reconciliation of these and other non-GAAP financial measures to their most directly comparable GAAP measures, see "Non-GAAP Reconciliation" at the end of the press release.

Selected Business Segments (included in previous results):

Wealth and Trust

The Wealth and Trust segment provides a broad array of planning and advisory services, investment management, trust services, credit and deposit products to individual, corporate, and institutional Clients.

Selected quarterly performance results and metrics are as follows:

(Dollars in millions, except where otherwise noted)	June 30, 2026		March 31, 2026		June 30, 2025
Net interest income⁽¹³⁾	$	31.7	$	27.5	$	23.0
Provision for credit losses		1.8		1.2		4.4
Fee revenue⁽¹⁴⁾		52.4		50.0		44.5
Noninterest expense⁽¹⁴⁾		34.5		31.8		32.3
Pre-tax income		47.7		44.5		30.7
Performance Metrics
WSFS Institutional Services^® and BMT of DE fee revenue	$	36.3	$	34.2	$	27.9
Private Wealth Management fee revenue		16.1		15.9		16.1
AUM/AUA (in billions)⁽¹⁵⁾		101.7		97.6		92.4

Wealth and Trust pre-tax income was $47.7 million, which increased $3.2 million, or 7% (not annualized), compared to 1Q 2026, driven by increases in net interest income of $4.2 million and fee revenue of $2.3 million.

The increase in net interest income was driven by higher noninterest deposit balances in Institutional Services. The increase in fee revenue was driven by higher assignment and agent fees across Institutional Services and continued account growth in BMT of DE. WSFS Institutional Services^® was the third most active trustee based on number of deals in 1H 2026 for U.S. ABS and MBS according to Asset-Backed Alert.

Wealth and Trust pre-tax income increased $17.0 million, or 55%, compared to 2Q 2025, driven by increases in fee revenue of $7.8 million and net interest income of $8.7 million. These increases were partially offset by an increase in noninterest expense of $2.2 million.

The increase in fee revenue was driven by growth in Institutional Servicesand BMT of DE. The increase in net interest income was due to higher noninterest deposit balances in Trust. The increase in noninterest expense was primarily due to higher salaries and benefits, uninsured losses and client transaction costs, partially offset by lower legal fees.

AUM/AUA increased $4.1 billion to $101.7 billion at the end of 2Q 2026 driven by account growth and market appreciation.

⁽¹³⁾ Includes intercompany allocation of income.

⁽¹⁴⁾ Includes intercompany allocation of revenue and expense.

⁽¹⁵⁾ Represents Assets Under Management and Assets Under Administration, in billions.

Cash Connect^®

Cash Connect^® is a premier provider of ATM vault cash, smart safe and cash logistics services in the United States, servicing non-bank ATMs and smart safes nationwide and supporting ATMs for WSFS Bank Clients.

Selected quarterly financial results and metrics are as follows:

(Dollars in millions)	June 30, 2026			March 31, 2026			June 30, 2025
Net revenue⁽¹⁶⁾	$	19.7		$	19.6		$	21.1
Noninterest expense⁽¹⁷⁾		16.8			16.7			17.8
Pre-tax income		3.0			3.0			3.3
Performance Metrics
Average cash managed	$	1,251		$	1,251		$	1,329
Number of serviced non-bank ATMs and smart safes		35,171			35,338			36,494
Net profit margin		15.0	%		15.4	%		15.6	%
ROA		2.15	%		2.38	%		2.43	%

Cash Connect^®pre-tax income of $3.0 million was flat compared to 1Q 2026. Net revenue and noninterest expense were generally flat compared to 1Q 2026 with lower ATM volume offset by higher revenue from smart safes, which grew 14%. Cash Connect^®net profit margin of 15.0% decreased 41bps compared to 1Q 2026, and decreased 62bps compared to 2Q 2025, largely driven by $1.6 million of one-time insurance recoveries in the prior year. Excluding this recovery, net profit margin increased 7.0%⁽¹⁸⁾.

Compared to 2Q 2025, pre-tax income decreased $0.3 million, driven by the insurance recoveries mentioned above. Excluding the impact of those recoveries, pre-tax income⁽¹⁸⁾ increased $1.3 million driven by the impact of lower interest rates (lower revenues were more than offset by lower expenses), pricing initiatives (increased revenues), and expense optimization.

Cash Connect^® continues to shift its business mix from traditional non-bank ATMs to higher margin products, such as smart safe units, which have grown 10% year-over-year.

⁽¹⁶⁾ Includes net interest income and intercompany allocation of income.

⁽¹⁷⁾ Includes intercompany allocation of expense.

⁽¹⁸⁾ As used in this press release, adjusted profit margin and adjusted pre-tax income are non-GAAP financial measures. These non-GAAP financial measures exclude certain pre-tax adjustments. For a reconciliation of non-GAAP financial measures to their most directly comparable GAAP measures, see "Non-GAAP Reconciliation" at the end of the press release.

Second Quarter 2026 Earnings Release Conference Call

Management will conduct a conference call to review 2Q 2026 results at 1:00 p.m. Eastern Time (ET) on Friday, July 24, 2026. Interested parties may access the conference call live on our Investor Relations website (https://investors.wsfsbank.com). For those who cannot access the live conference call, a replay will be accessible shortly after the event concludes through our Investor Relations website.

About WSFS Financial Corporation

WSFS Financial Corporation is a multibillion-dollar financial services company. Its primary subsidiary, WSFS Bank, is the oldest and largest locally headquartered bank and wealth management franchise in the Greater Philadelphia and Delaware region. As of June 30, 2026, WSFS Financial Corporation had $22.7 billion in assets on its balance sheet and $101.7 billion in assets under management and administration. WSFS operates from 114 offices, 87 of which are banking offices, located in Pennsylvania (58), Delaware (38), New Jersey (14), Florida (2), Nevada (1) and Virginia (1) and provides comprehensive financial services including commercial banking, consumer banking, treasury management, and trust and wealth management. Other subsidiaries or divisions include Arrow Land Transfer, Bryn Mawr Trust Advisors, LLC, Bryn Mawr Trust^®, The Bryn Mawr Trust Company of Delaware, Cash Connect^®, NewLane Finance^®, WSFS Wealth^® Management, LLC, WSFS Institutional Services^®, and WSFS Mortgage^®. Serving the Greater Delaware Valley since 1832, WSFS Bank is one of the ten oldest banks in the United States continuously operating under the same name. For more information, please visit www.wsfsbank.com.

Forward-Looking Statements

This press release contains estimates, predictions, opinions, projections and other "forward-looking statements" as that phrase is defined in the Private Securities Litigation Reform Act of 1995. Such statements include, without limitation, references to the Company's predictions or expectations of future business or financial performance as well as its goals and objectives for future operations, financial and business trends, business prospects, and management's outlook or expectations for earnings, revenues, expenses, capital levels, liquidity levels, asset quality or other future financial or business performance, strategies or expectations. The words “believe,” “expect,” “anticipate,” “plan,” “estimate,” “target,” “project” and similar expressions, among others, generally identify forward-looking statements. Such forward-looking statements are based on various assumptions (some of which may be beyond the Company's control) and are subject to risks and uncertainties (which change over time) and other factors which could cause actual results to differ materially from those currently anticipated. Such risks and uncertainties include, but are not limited to, difficult market conditions and unfavorable economic trends in the United States generally and in financial markets, particularly in the markets in which the Company operates and in which its loans are concentrated, including difficult and unfavorable conditions and trends related to housing markets, costs of living, unemployment levels, interest rates, supply chain issues, inflation, and economic growth; possible additional loan losses and impairment of the collectability of loans; the Company's level of nonperforming assets and the costs associated with resolving problem loans including litigation and other costs and complying with government-imposed foreclosure moratoriums; the credit risk associated with the substantial amount of commercial real estate, commercial and industrial, and construction and land development loans in the Company's loan portfolio; changes in market interest rates, which may increase funding costs and reduce earning asset yields and thus reduce margin; the impact of changes in interest rates and the credit quality and strength of underlying collateral and the effect of such changes on the market value of the Company's investment securities portfolio, which could impact market confidence in the Company's operations; the extensive federal and state regulation, supervision and examination governing almost every aspect of the Company's operations, and potential expenses associated with complying with such regulations; the Company's ability to comply with applicable capital and liquidity requirements, including its ability to generate liquidity internally or raise capital on favorable terms; the impacts related to or resulting from bank failures and other economic industry volatility, including potential increased regulatory requirements and costs and potential impacts to macroeconomic conditions; changes in trade, monetary and fiscal policies and stimulus programs, laws and regulations and other activities of governments, agencies, and similar organizations, and the uncertainty of the short- and long-term impacts of such changes; any impairments of the Company's goodwill or other intangible assets; the success of the Company's growth plans across our WSFS Bank, Cash Connect^® and/or Wealth and Trust segments; the Company's ability to successfully integrate and fully realize the cost savings and other benefits of its acquisitions, manage risks related to business disruption following those acquisitions, and post-acquisition Client acceptance of the Company's products and services and related Client disintermediation; negative perceptions or publicity with respect to the Company generally and, in particular, the Company's Wealth and Trust business; failure of the financial and/or operational controls of the Company's Cash Connect^® and/or Wealth and Trust segments; adverse judgments or other resolution of pending and future legal proceedings, and costs incurred in defending such proceedings; the Company's reliance on third parties for certain important functions, including the operation of its core systems, and any failures by such third parties; system failures or cybersecurity incidents or other breaches of the Company's network security, particularly given remote working arrangements; any actual or perceived failure or deficiency in the use of artificial intelligence by the Company or third-party vendors or service providers; the Company's ability to recruit and retain key Associates; the effects of weather, including climate change, and natural disasters such as floods, droughts, wind, tornadoes, wildfires and hurricanes as well as effects from geopolitical instability, armed conflicts, public health crises and man-made disasters including terrorist attacks; the effects of regional or national civil unrest (including any resulting branch or ATM closures or damage); possible changes in the speed of loan prepayments by the Company's Clients and loan origination or sales volumes; possible changes in market valuations and/or the speed of prepayments of mortgage-backed securities (MBS) due to changes in the interest rate environment, and the related acceleration of premium amortization on prepayments in the event that prepayments accelerate; regulatory limits on the Company's ability to receive dividends from its subsidiaries, and pay dividends to its stockholders; any reputation, credit, interest rate, market, operational, litigation, legal, liquidity, regulatory and compliance risk resulting from developments related to any of the risks discussed above; any compounding effects or unexpected interactions of the risks discussed above; and other risks and uncertainties, including those discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2025 under the heading “Risk Factors” and in other documents filed by the Company with the Securities and Exchange Commission from time to time.

The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. The Company disclaims any duty to revise or update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company for any reason, except as specifically required by law. As used in this press release, the terms "WSFS," "the Company," "registrant," "we," "us," and "our" mean WSFS Financial Corporation and its subsidiaries, on a consolidated basis, unless the context indicates otherwise.

WSFS FINANCIAL CORPORATION
FINANCIAL HIGHLIGHTS
SUMMARY STATEMENTS OF INCOME (Unaudited)

	Three months ended									Six months ended
(Dollars in thousands, except per share data)	June 30, 2026			March 31, 2026			June 30, 2025			June 30, 2026			June 30, 2025
Interest income:
Interest and fees on loans	$	208,206		$	205,243		$	216,005		$	413,449		$	432,757
Interest on mortgage-backed securities		27,975			25,242			24,531			53,217			49,276
Interest and dividends on investment securities		2,157			2,171			2,186			4,328			4,372
Other interest income		18,498			16,553			10,468			35,051			17,663
		256,836			249,209			253,190			506,045			504,068
Interest expense:
Interest on deposits		59,694			59,497			70,124			119,191			141,228
Interest on Federal Home Loan Bank advances		491			439			949			930			1,887
Interest on senior and subordinated debt		2,765			2,766			1,089			5,531			3,163
Interest on trust preferred borrowings		1,370			1,355			1,518			2,725			3,041
Interest on other borrowings		16			16			15			32			38
		64,336			64,073			73,695			128,409			149,357
Net interest income		192,500			185,136			179,495			377,636			354,711
Provision for (recovery of) credit losses		5,044			(1,998	)		12,621			3,046			29,971
Net interest income after provision for (recovery of) credit losses		187,456			187,134			166,874			374,590			324,740
Noninterest income:
Credit/debit card and ATM income		15,620			15,066			18,309			30,686			37,052
Investment management and fiduciary revenue		51,460			49,127			43,774			100,587			83,055
Deposit service charges		7,041			6,877			6,802			13,918			13,555
Mortgage banking activities, net		1,323			2,361			2,341			3,684			4,141
Loan and lease fee income		1,618			2,002			1,430			3,620			2,895
Unrealized loss on equity investment, net		(4,134	)		—			—			(4,134	)		—
Realized gain on sale of equity investment, net		159			—			18			159			18
Other income		16,881			14,682			15,335			31,563			28,190
		89,968			90,115			88,009			180,083			168,906
Noninterest expense:
Salaries, benefits and other compensation		95,767			91,887			89,145			187,654			171,622
Occupancy expense		8,309			10,139			8,829			18,448			18,722
Equipment expense		13,661			13,272			13,778			26,933			26,506
Data processing and operations expense		5,246			5,011			5,010			10,257			9,705
Professional fees		4,752			4,118			6,211			8,870			10,909
Marketing expense		2,567			2,135			1,925			4,702			3,620
FDIC expenses		2,523			2,634			2,433			5,157			5,011
Loan workout and other credit costs		2,087			2,174			1,629			4,261			1,869
Corporate development expense		63			57			(329	)		120			(270	)
Restructuring expense		—			2,796			—			2,796			260
Other operating expenses		31,325			28,542			30,712			59,867			63,184
		166,300			162,765			159,343			329,065			311,138
Income before taxes		111,124			114,484			95,540			225,608			182,508
Income tax provision		26,795			27,639			23,319			54,434			44,420
Net income		84,329			86,845			72,221			171,174			138,088
Less: Net (loss) income attributable to noncontrolling interest		(69	)		18			(105	)		(51	)		(134	)
Net income attributable to WSFS	$	84,398		$	86,827		$	72,326		$	171,225		$	138,222
Diluted earnings per share of common stock:	$	1.63		$	1.64		$	1.27		$	3.26		$	2.39
Weighted average shares of common stock outstanding for fully diluted EPS		51,935,567			53,031,912			56,851,797			52,475,721			57,765,602
See “Notes”

WSFS FINANCIAL CORPORATION
FINANCIAL HIGHLIGHTS
SUMMARY STATEMENTS OF INCOME (Unaudited) - continued

	Three months ended						Six months ended
	June 30, 2026		March 31, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Performance Ratios:
Return on average assets (a)	1.52	%	1.61	%	1.39	%	1.56	%	1.34	%
Return on average equity (a)	12.39		12.71		10.94		12.55		10.54
Return on average tangible common equity (a)(o)	19.78		20.18		18.08		19.98		17.50
Net interest margin (a)(b)	3.87		3.83		3.89		3.85		3.88
Efficiency ratio (c)	58.8		59.0		59.5		58.9		59.3
Noninterest income as a percentage of total net revenue (b)	31.8		32.7		32.8		32.2		32.2
See “Notes”

WSFS FINANCIAL CORPORATION
FINANCIAL HIGHLIGHTS (Continued)
SUMMARY STATEMENTS OF FINANCIAL CONDITION (Unaudited)

(Dollars in thousands)	June 30, 2026			March 31, 2026			June 30, 2025
*Assets:*
Cash and due from banks	$	2,173,149		$	2,067,824		$	899,713
Cash in non-owned ATMs		392,494			397,877			424,741
Investment securities, available-for-sale		3,841,008			3,581,894			3,494,783
Investment securities, held-to-maturity		943,292			958,219			994,340
Other investments		38,231			43,291			46,751
Net loans and leases (e)(f)(l)		13,323,785			13,153,815			12,965,825
Goodwill and intangibles		962,451			966,388			977,546
Other assets		979,538			937,607			959,593
Total assets	$	22,653,948		$	22,106,915		$	20,763,292
*Liabilities and Stockholders’ Equity:*
Noninterest-bearing deposits	$	7,008,388		$	6,371,522		$	5,305,768
Interest-bearing deposits		11,995,247			12,096,966			11,815,701
Total client deposits		19,003,635			18,468,488			17,121,469
Federal Home Loan Bank advances		—			—			51,040
Other borrowings		307,017			310,355			252,419
Other liabilities		632,222			614,031			666,146
Total liabilities		19,942,874			19,392,874			18,091,074
Stockholders’ equity of WSFS		2,721,798			2,724,493			2,682,728
Noncontrolling interest		(10,724	)		(10,452	)		(10,510	)
Total stockholders' equity		2,711,074			2,714,041			2,672,218
Total liabilities and stockholders' equity	$	22,653,948		$	22,106,915		$	20,763,292
Capital Ratios:
Equity to asset ratio		12.01	%		12.32	%		12.92	%
Tangible common equity to tangible asset ratio (o)		8.11			8.32			8.62
Common equity Tier 1 capital (required: 4.5%; well capitalized: 6.5%) (g)		13.76			13.91			14.07
Tier 1 leverage (required: 4.00%; well-capitalized: 5.00%) (g)		10.35			10.51			11.04
Tier 1 risk-based capital (required: 6.00%; well-capitalized: 8.00%) (g)		13.76			13.91			14.07
Total risk-based capital (required: 8.00%; well-capitalized: 10.00%) (g)		15.47			15.66			15.86
Asset Quality Indicators:
Nonperforming assets:
Nonaccruing loans (s)(n)	$	68,271		$	75,112		$	105,236
Assets acquired through foreclosure		12,690			12,717			930
Total nonperforming assets	$	80,961		$	87,829		$	106,166
Past due loans (h)(n)	$	8,112		$	12,029		$	23,012
Troubled loans (t)(n)		94,280			110,586			195,916
Allowance for credit losses		180,035			182,876			189,121
Ratio of nonperforming assets to total assets (n)		0.36	%		0.40	%		0.51	%
Ratio of allowance for credit losses to total loans and leases (p)		1.32			1.36			1.43
Ratio of allowance for credit losses to nonaccruing loans (n)		260			240			177
Ratio of quarterly net charge-offs (recoveries) to average gross loans (a)(e)(i)		0.21			(0.11	)		0.30
Ratio of year-to-date net charge-offs (recoveries) to average gross loans (a)(e)(i)		0.06			(0.11	)		0.53
See “Notes”

WSFS FINANCIAL CORPORATION
FINANCIAL HIGHLIGHTS (Continued)
AVERAGE BALANCE SHEET (Unaudited)

(Dollars in thousands)	Three months ended
	June 30, 2026							March 31, 2026							June 30, 2025
	Average Balance			Interest & Dividends		Yield/ Rate (a)(b)		Average Balance			Interest & Dividends		Yield/ Rate (a)(b)		Average Balance			Interest & Dividends		Yield/ Rate (a)(b)
*Assets:*
Interest-earning assets:
Loans: (e) (j)
Commercial loans	$	4,838,475		$	73,772	6.13	%	$	4,701,069		$	70,169	6.07	%	$	4,632,578		$	74,450	6.45	%
Commercial real estate loans (r)		4,896,752			75,795	6.21			4,968,948			76,339	6.23			4,808,177			78,400	6.54
Commercial leases		581,053			12,560	8.65			588,782			12,850	8.73			630,955			13,776	8.73
Residential mortgage		1,142,113			15,774	5.52			1,089,151			14,638	5.38			965,480			12,935	5.36
Consumer loans		1,854,178			28,889	6.25			1,871,601			29,847	6.47			1,997,285			35,096	7.05
Loans held for sale		78,068			1,416	7.28			66,760			1,400	8.50			96,517			1,348	5.60
Total loans and leases		13,390,639			208,206	6.24			13,286,311			205,243	6.27			13,130,992			216,005	6.60
Mortgage-backed securities (d)		4,286,970			27,975	2.61			4,191,264			25,242	2.41			4,148,820			24,531	2.37
Investment securities (d)		363,491			2,157	2.71			368,318			2,171	2.72			366,391			2,186	2.70
Other interest-earning assets		1,979,080			18,498	3.75			1,793,908			16,553	3.74			934,152			10,468	4.49
Total interest-earning assets	$	20,020,180		$	256,836	5.16	%	$	19,639,801		$	249,209	5.16	%	$	18,580,355		$	253,190	5.48	%
Allowance for credit losses		(183,731	)						(184,109	)						(188,252	)
Cash and due from banks		176,672							175,052							188,300
Cash in non-owned ATMs		378,583							351,909							390,275
Bank owned life insurance		37,833							37,289							36,042
Other noninterest-earning assets		1,843,940							1,855,211							1,898,721
Total assets	$	22,273,477						$	21,875,153						$	20,905,441
*Liabilities and stockholders’ equity:*
Interest-bearing liabilities:
Interest-bearing deposits:
Interest-bearing demand	$	2,796,834		$	6,254	0.90	%	$	2,828,403		$	6,055	0.87	%	$	2,829,653		$	7,337	1.04	%
Savings		1,370,482			1,172	0.34			1,395,028			1,163	0.34			1,445,123			1,609	0.45
Money market		5,890,550			38,131	2.60			5,817,813			36,876	2.57			5,437,897			41,120	3.03
Time deposits		1,894,349			14,137	2.99			1,962,289			15,403	3.18			2,094,572			20,058	3.84
Total interest-bearing client deposits		11,952,215			59,694	2.00			12,003,533			59,497	2.01			11,807,245			70,124	2.38
Federal Home Loan Bank advances		50,000			491	3.88			44,444			439	4.01			84,007			949	4.53
Trust preferred borrowings		91,096			1,370	6.03			91,055			1,355	6.04			90,903			1,518	6.70
Senior and subordinated debt		196,997			2,765	5.61			196,919			2,766	5.62			148,708			1,089	2.93
Other borrowed funds		22,324			16	0.29			21,868			16	0.30			19,428			15	0.31
Total interest-bearing liabilities	$	12,312,632		$	64,336	2.10	%	$	12,357,819		$	64,073	2.10	%	$	12,150,291		$	73,695	2.43	%
Noninterest-bearing demand deposits		6,631,914							6,105,690							5,438,692
Other noninterest-bearing liabilities		606,784							652,541							674,616
Stockholders’ equity of WSFS		2,732,684							2,769,574							2,652,257
Noncontrolling interest		(10,537	)						(10,471	)						(10,415	)
Total liabilities and equity	$	22,273,477						$	21,875,153						$	20,905,441
Excess of interest-earning assets over interest-bearing liabilities	$	7,707,548						$	7,281,982						$	6,430,064
Net interest and dividend income				$	192,500						$	185,136						$	179,495
Interest rate spread						3.06	%						3.06	%						3.05	%
Net interest margin						3.87	%						3.83	%						3.89	%
See “Notes”

WSFS FINANCIAL CORPORATION
FINANCIAL HIGHLIGHTS (Continued)
(Unaudited)

(Dollars in thousands, except per share data)	Three months ended			Six months ended
Stock Information:	June 30, 2026	March 31, 2026	June 30, 2025	June 30, 2026	June 30, 2025
Market price of common stock:
High	$78.39	$71.32	$57.06	$78.39	$59.43
Low	64.98	54.31	42.44	54.31	42.44
Close	76.73	65.46	55.00	76.73	55.00
Book value per share of common stock	52.97	52.24	47.71
Tangible common book value (TBV) per share of common stock (o)	34.24	33.71	30.32
Number of shares of common stock outstanding (000s)	51,388	52,149	56,235
Other Financial Data:
One-year repricing gap to total assets (k)(u)	6.45%	4.72%	(2.69)%
Weighted average duration of the MBS portfolio	5.6 years	5.8 years	6.2 years
Unrealized losses on securities available for sale, net of taxes	$(393,925)	$(385,270)	$(445,065)
Number of Associates (FTEs) (m)	2,391	2,348	2,375
Number of offices (branches, LPO’s, operations centers, etc.)	114	114	115

Notes:

Annualized.
Computed on a fully tax-equivalent basis.
Noninterest expense divided by (tax-equivalent) net interest income and noninterest income.
Includes securities held-to-maturity (at amortized cost) and securities available-for-sale (at fair value).
Net of unearned income.
Net of allowance for credit losses.
Represents capital ratios of WSFS Financial Corporation and subsidiaries. Capital Ratios for the current quarter are to be considered preliminary until regulatory filings for the quarter are completed.
Accruing loans which are contractually past due 90 days or more as to principal or interest. Balance includes student loans, which are U.S. government guaranteed with little risk of credit loss.
Excludes loans held for sale and reverse mortgage loans.
Nonperforming loans are included in average balance computations.
The difference between projected amounts of interest-sensitive assets and interest-sensitive liabilities repricing within one year divided by total assets, based on a current interest rate scenario.
Includes loans held for sale and reverse mortgages.
Includes seasonal Associates, when applicable.
Includes loans held for sale.
The Company uses non-GAAP (United States Generally Accepted Accounting Principles) financial information in its analysis of the Company’s performance. The Company’s management believes that these non-GAAP financial measures provide a greater understanding of ongoing operations, enhance comparability of results of operations with prior periods and show the effects of significant gains and charges in the periods presented. The Company’s management believes that investors may use these non-GAAP financial measures to analyze the Company’s financial performance without the impact of unusual items or events that may obscure trends in the Company’s underlying performance. This non-GAAP data should be considered in addition to results prepared in accordance with GAAP, and is not a substitute for, or superior to, GAAP results. For a reconciliation of these and other non-GAAP financial measures to their most directly comparable GAAP measures, see "Non-GAAP Reconciliation" at the end of the press release.
Reflects allowance for credit losses on loans and leases over the amortized cost of the total portfolio.
Includes provision for credit losses, loan workout expenses, OREO expenses and other credit costs.
Includes commercial mortgage and commercial construction loans.
Includes nonaccruing troubled loans.
Represents loans modified in the form of principal forgiveness, interest rate reduction, an other-than-insignificant payment delay, or a term extension to borrowers experiencing financial difficulty.
Includes the impact of cash flow hedges. Prior period amounts have been updated to conform to current presentation.

WSFS FINANCIAL CORPORATION
FINANCIAL HIGHLIGHTS (Continued)
(Dollars in thousands, except per share data)
(Unaudited)

Non-GAAP Reconciliation (o):	Three months ended									Six months ended
	June 30, 2026			March 31, 2026			June 30, 2025			June 30, 2026			June 30, 2025
Net interest income (GAAP)	$	192,500		$	185,136		$	179,495		$	377,636		$	354,711
Core net interest income (non-GAAP)		192,500			185,136			179,495			377,636			354,711
Noninterest income (GAAP)		89,968			90,115			88,009			180,083			168,906
Plus: Unrealized loss on equity investments, net		(4,134	)		—			—			(4,134	)		—
Less: Realized gain on sale of equity investment, net		159			—			18			159			18
Less: Gain on sale of credit card portfolio		1,746			—			—			1,746			—
Core fee revenue (non-GAAP)	$	92,197		$	90,115		$	87,991		$	182,312		$	168,888
Core net revenue (non-GAAP)	$	284,697		$	275,251		$	267,486		$	559,948		$	523,599
Core net revenue (non-GAAP)(tax-equivalent)	$	285,231		$	275,780		$	267,972		$	561,011		$	524,540
Noninterest expense (GAAP)	$	166,300		$	162,765		$	159,343		$	329,065		$	311,138
Less/(plus): Corporate development expense		63			57			(329	)		120			(270	)
Less: Restructuring expense		—			2,796			—			2,796			260
Core noninterest expense (non-GAAP)	$	166,237		$	159,912		$	159,672		$	326,149		$	311,148
Core efficiency ratio (non-GAAP)		58.3	%		58.0	%		59.6	%		58.1	%		59.3	%
Core fee revenue ratio (non-GAAP) (b)		32.3	%		32.7	%		32.8	%		32.5	%		32.2	%

	End of period
	June 30, 2026			March 31, 2026			June 30, 2025
Total assets (GAAP)	$	22,653,948		$	22,106,915		$	20,763,292
Less: Goodwill and other intangible assets		962,451			966,388			977,546
Total tangible assets (non-GAAP)	$	21,691,497		$	21,140,527		$	19,785,746
Total stockholders’ equity of WSFS (GAAP)	$	2,721,798		$	2,724,493		$	2,682,728
Less: Goodwill and other intangible assets		962,451			966,388			977,546
Total tangible common equity (non-GAAP)	$	1,759,347		$	1,758,105		$	1,705,182

Tangible common book value (TBV) per share:
Book value per share (GAAP)	$	52.97		$	52.24		$	47.71
Tangible common book value per share (non-GAAP)		34.24			33.71			30.32
Tangible common equity to tangible assets:
Equity to asset ratio (GAAP)		12.01	%		12.32	%		12.92	%
Tangible common equity to tangible assets ratio (non-GAAP)		8.11			8.32			8.62

Non-GAAP Reconciliation - continued (o):	Three months ended									Six months ended
	June 30, 2026			March 31, 2026			June 30, 2025			June 30, 2026			June 30, 2025
GAAP net income attributable to WSFS	$	84,398		$	86,827		$	72,326		$	171,225		$	138,222
Plus/(less): Pre-tax adjustments: Realized/unrealized gain (loss) on equity investments, net, gain on sale of credit card portfolio, corporate development and restructuring expense		2,292			2,853			(347	)		5,145			(28	)
(Less)/plus: Tax impact of pre-tax adjustments		(539	)		(639	)		149			(1,178	)		99
Adjusted net income (non-GAAP) attributable to WSFS	$	86,151		$	89,041		$	72,128		$	175,192		$	138,293

GAAP return on average assets (ROA)		1.52	%		1.61	%		1.39	%		1.56	%		1.34	%
Plus/(less): Pre-tax adjustments: Realized/unrealized gain (loss) on equity investments, net, gain on sale of credit card portfolio, corporate development and restructuring expense		0.04			0.05			(0.01	)		0.05			—
(Less)/plus: Tax impact of pre-tax adjustments		(0.01	)		(0.01	)		—			(0.01	)		—
Core ROA (non-GAAP)		1.55	%		1.65	%		1.38	%		1.60	%		1.34	%
Less: Impact of loan recovery (after-tax)		—			0.22			—			0.11			—
Core ROA excluding loan recovery (non-GAAP)		1.55	%		1.43	%		1.38	%		1.49	%		1.34	%

Earnings per share (diluted) (GAAP)	$	1.63		$	1.64		$	1.27		$	3.26		$	2.39
Plus/(less): Pre-tax adjustments: Realized/unrealized gain (loss) on equity investments, net, gain on sale of credit card portfolio, corporate development and restructuring expense		0.04			0.05			(0.01	)		0.10			—
(Less)/plus: Tax impact of pre-tax adjustments		(0.01	)		(0.01	)		0.01			(0.02	)		—
Core earnings per share (non-GAAP)	$	1.66		$	1.68		$	1.27		$	3.34		$	2.39
Less: Impact of loan recovery (after-tax)		—			0.23			—			0.23			—
Core EPS excluding loan recovery (non-GAAP)	$	1.66		$	1.45		$	1.27		$	3.11		$	2.39

Calculation of return on average tangible common equity:
GAAP net income attributable to WSFS	$	84,398		$	86,827		$	72,326		$	171,225		$	138,222
Plus: Tax effected amortization of intangible assets		2,766			2,778			2,946			5,544			5,891
Net tangible income (non-GAAP)	$	87,164		$	89,605		$	75,272		$	176,769		$	144,113
Average stockholders’ equity of WSFS	$	2,732,684		$	2,769,574		$	2,652,257		$	2,751,027		$	2,644,847
Less: Average goodwill and intangible assets		964,974			968,555			982,533			966,755			984,624
Net average tangible common equity	$	1,767,710		$	1,801,019		$	1,669,724		$	1,784,272		$	1,660,223
Return on average tangible common equity (non-GAAP)		19.78	%		20.18	%		18.08	%		19.98	%		17.50	%

Calculation of PPNR:
Net income (GAAP)	$	84,329		$	86,845		$	72,221		$	171,174		$	138,088
Plus: Income tax provision		26,795			27,639			23,319			54,434			44,420
Plus/(less): Provision for (recovery of) credit losses		5,044			(1,998	)		12,621			3,046			29,971
PPNR (non-GAAP)	$	116,168		$	112,486		$	108,161		$	228,654		$	212,479


Non-GAAP Reconciliation - continued (o):	Three months ended
	June 30, 2026			March 31, 2026			June 30, 2025
Calculation of adjusted total net credit costs and adjusted net charge-offs:
Total net credit costs (GAAP)	$	7,131		$	176		$	14,250
Less: Recovery on previously charged-off loan		—			(15,686	)		—
Adjusted total net credit costs (non-GAAP)	$	7,131		$	15,862		$	14,250
Net charge-offs (GAAP)	$	7,111		$	(3,456	)	$	9,767
Less: Recovery on previously charged-off loan		—			(15,686	)		—
Adjusted net charge-offs (non-GAAP)	$	7,111		$	12,230		$	9,767

Calculation of Cash Connect^® adjusted net profit margin:
Cash Connect^® net revenue (GAAP)	$	19,728		$	19,601		$	21,141
Cash Connect^® pre-tax income (GAAP)	$	2,951		$	3,013		$	3,293
Less: Impact of insurance recovery		—			—			(1,612	)
Cash Connect^® adjusted pre-tax income (non-GAAP)	$	2,951		$	3,013		$	1,681
GAAP Cash Connect^® net profit margin		15.0	%		15.4	%		15.6	%
Cash Connect^® adjusted net profit margin (non-GAAP)		15.0	%		15.4	%		8.0	%

View source version on businesswire.com: https://www.businesswire.com/news/home/20260723299179/en/

Investor Relations Contact: Andrew Basile
(302) 504-9857; abasile@wsfsbank.com
Media Contact: Connor Peoples
(215) 864-5645; cpeoples@wsfsbank.com

Source: WSFS Financial Corporation

WSFS Reports 2Q 2026 EPS of $1.63 and ROA of 1.52%

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