WSFS Financial (WSFS) Q4 2025 earnings summary

Executive summary

• Delivered strong Q4 2025 results with core EPS of $1.43, core ROA of 1.42%, and core ROTCE of 18%, all up year-over-year, driven by broad-based loan and deposit growth, especially in Wealth and Trust and C&I lending.

• Full-year 2025 core EPS was $5.21, up 19% over prior year; Q4 core EPS up 29% year-over-year.

• Tangible book value per share increased 21% year-over-year to $33.11.

• Returned $324.7 million to shareholders in 2025, including $287.5 million in share repurchases, representing 9.3% of outstanding shares.

• Maintained capital ratios significantly above regulatory requirements, with CET1 at 13.92%.

Financial highlights

• Net interest margin (NIM) was 3.83% for Q4 2025, down 8 bps sequentially but up 3 bps year-over-year despite 75 bps in rate cuts since Q4 2024.

• Core fee revenue for Q4 2025 was $90.1M, up 2% sequentially and 8% year-over-year, with Wealth and Trust up 13% year-over-year.

• Total gross loans grew 2% sequentially (9% annualized), with commercial C&I loans up 4% sequentially (15% annualized); consumer loans and residential mortgages showed strong momentum, growing a combined 20% QoQ annualized.

• Total client deposits increased 2% sequentially (10% annualized); non-interest-bearing deposits grew 6% sequentially and now represent 32-33% of total deposits.

• Efficiency ratio improved to 57.9% in Q4 2025; core efficiency ratio was 57.9%.

Outlook and guidance

• 2026 outlook assumes stable economy and three 25 bps rate cuts, with full-year core ROA of ~1.40% and double-digit core EPS growth.

• Projects mid-single-digit loan and deposit growth, NIM around 3.80%, and disciplined expense management.

• Fee revenue to grow mid-single digits (excluding Cash Connect); Wealth and Trust to grow double digits; Cash Connect revenue to decline but margin to improve.

• Net charge-offs expected at 35-45 bps of average loans; efficiency ratio targeted in the high 50s.

• Expects continued share buybacks in line with capital return framework.