WSFS Financial Corporation Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
January 25, 2024 at 04:10 pm EST
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WSFS Financial Corporation reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported net interest income was USD 178.13 million compared to USD 193.89 million a year ago. Net income was USD 63.91 million compared to USD 84.45 million a year ago. Diluted earnings per share from continuing operations was USD 1.05 compared to USD 1.37 a year ago.
For the full year, net interest income was USD 725.1 million compared to USD 662.89 million a year ago. Net income was USD 269.16 million compared to USD 222.38 million a year ago. Diluted earnings per share from continuing operations was USD 4.4 compared to USD 3.49 a year ago.
WSFS Financial Corporation is a savings and loan holding company. The Company operates through its subsidiary, Wilmington Savings Fund Society, FSB (the Bank). The Companyâs segments include WSFS Bank, Cash Connect and Wealth Management. The WSFS Bank segment provides loans and leases, deposits and other financial products to commercial and consumer customers. WSFS Bank also offers a variety of consumer loan products, retail securities and insurance brokerage services through its branches, and mortgage and title services through WSFS Mortgage. Its Cash Connect segment provides 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 Customers. The Wealth Management segment provides a range of planning and advisory services, investment management, personal and institutional trust services, and credit and deposit products to individual, corporate, and institutional clients.