WSFS Financial Corporation headquarters, symbolizing a legacy of banking.
WSFS Financial Corporation, the oldest bank in the U.S., is preparing to announce its Q2 earnings. With notable growth in lending and wealth management services, the bank’s performance shows solid financial health. The announcement will cover key metrics and management insights, as stakeholders anticipate the earnings call on July 25. Recent structural changes, including the sale of a consumer lending portfolio, signify strategic moves to maintain market positioning amidst potential market fluctuations.
WSFS Financial Corporation, the oldest bank in the United States operating under its original name, is set to announce its Q2 2025 earnings on July 24, 2025. As the parent company of WSFS Bank, which was founded in 1832, the organization has a long-standing history in banking, particularly in the Greater Philadelphia and Delaware areas.
As per the latest reports, WSFS Financial Corporation boasted assets worth $20.5 billion and $89.6 billion in assets under management as of March 31, 2025. The bank operates 115 offices, with 88 of those being banking locations, ensuring a broad reach across its primary markets which span Pennsylvania, Delaware, New Jersey, Florida, Nevada, and Virginia.
In Q1 2025, WSFS experienced notable growth in its lending portfolio, especially with gross loans reaching $13.16 billion. There were significant year-over-year increases in construction loans of $36.6 million and commercial and industrial loans which surged by $162.3 million. The bank’s client deposits totaled $16.88 billion, resulting in a solid loan-to-deposit ratio of 77%, indicating effective balance sheet management.
WSFS Financial also reported that its assets under management in wealth management services rose from $89.4 billion to $89.6 billion between late 2024 and March 2025. Fee revenue from wealth management services saw a yearly increase of 6%, amounting to $80.9 million in Q1 2025, illustrating the company’s efforts toward diversifying its revenue streams.
Despite some fluctuations, the company’s net interest income for Q1 2025 stood at $175.2 million, slightly down from the previous quarter. However, there was an increase in the net interest margin to 3.88%, achieved through reduced deposit costs. Moreover, total net revenue came in at $256.1 million, reflecting slower loan growth along with some volatility in fees.
Looking forward to the full year of 2025, WSFS anticipates an earnings per share (EPS) growth of 2.9%, which equates to $4.40. This figure reflects a decrease from the estimated compound annual growth rate (CAGR) of 9.5% in prior years. The company made significant structural changes recently by selling a large portion of its unsecured consumer lending portfolio, which had an outstanding book balance of $98.1 million as of May 31, 2025. This transaction is expected to produce a net charge-off of approximately $4.3 million.
The sale also includes a provision release of about $4.8 million, which should not have major ongoing impacts on financial results. In Q1 2025, WSFS’s earnings featured an EPS of $1.12, surpassing market predictions of $1.04, although revenue fell short of expectations. The bank’s core return on assets was noted at 1.29%, emphasizing its financial stability across various market conditions.
In terms of leadership, WSFS Financial has made strategic management changes with the appointments of Allan Matyger as Executive Vice President and Chief Information Officer, and Rebecca Seeman as Chief Operating Officer of Consumer Banking. Market analysts from Keefe, Bruyette & Woods have maintained a Market Perform rating on WSFS Financial, with a target price set at $64.00. This highlights the bank’s solid market position and income diversification strategies as it heads into the earnings call.
A conference call is scheduled for July 25, 2025, at 1:00 p.m. Eastern Time (ET) to discuss these earnings and insights into the company’s performance. Stakeholders are encouraged to tune in for a comprehensive overview of the bank’s financial health and strategic initiatives moving forward.
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