WSFS Financial (WSFS) Q3 2025 earnings summary

Executive summary

• Core EPS reached $1.40, up 30% year-over-year, with core ROA at 1.48% and net income of $76.4 million, all reflecting strong sequential and annual growth.

• Tangible book value per share increased 12% year-over-year to $32.11.

• Wealth and Trust segment delivered double-digit fee revenue and pre-tax income growth; Cash Connect® profit margin improved to over 10%.

• Returned $206.2 million of capital year-to-date, including $178.3 million in share repurchases (5.8% of shares) and $27.9 million in dividends.

• Net interest margin was 3.91%, up 2bps quarter over quarter and 13bps year-over-year.

Financial highlights

• Net interest income rose to $184.0 million, up 3% sequentially and 4% year-over-year.

• Efficiency ratio improved to 59.5% from 61.1% a year ago.

• Noninterest deposits grew 12% year-over-year, now over 30% of total deposits.

• Loans down 1% linked quarter due to Upstart portfolio sale and Spring EQ runoff; residential mortgage and consumer loans up 5% and 3% respectively.

• Book value per share rose to $49.67, up 9% year-over-year.

Outlook and guidance

• Full-year outlook reaffirmed, including an additional October rate cut not previously assumed.

• CET1 medium-term target set at ~12%; current CET1 at 14.39%.

• FY GDP forecast of 1.9% in 2025 and 2.0% in 2026; unemployment forecast at 4.2% in 2025 and 4.4% in 2026.

• Management remains focused on sustaining high performance into Q4 and executing the 2025-2027 Strategic Plan.

• Full-year 2026 outlook to be provided in January with Q4 2025 results.