WSFS Financial : 1Q 2026 Earnings Release Supplement

Published: 2026-04-23 17:28:54 ET WSFS

Published on 04/23/2026 at 05:28 pm EDT

Financial Highlights

Reported Core1

$ in millions

(except per share amounts)

1Q26

QoQ Δ

YoY Δ

1Q26

QoQ Δ

YoY Δ

EPS

$1.64

+22.4%

+46.4%

$1.68

+17.5%

+48.7%

ROA

1.61%

+28bps

+32bps

1.65%

+23bps

+36bps

Net Income2

$86.8

+19.4%

+31.7%

$89.0

+14.6%

+34.6%

PPNR1

$112.5

+2.4%

+7.9%

$115.3

-1.0%

+10.2%

ROTCE1

20.18%

+327bps

20.68%

+265bps

+371bps

NIM4

3.83%

0bps

-5bps

3.83%

0bps

-5bps

Fee Revenue $

$90.1

+6.6%

+11.4%

$90.1

0.0%

+11.4%

Fee Revenue %3

32.7%

+165bps

+115bps

32.7%

+27bps

+115bps

Efficiency Ratio

59.0%

-44bps

-14bps

58.0%

+11bps

-105bps

ACL Ratio5

1.36%

0bps

-7bps

1.36%

0bps

-7bps

CET1

13.91%

-1bps

-19bps

13.91%

-1bps

-19bps

TBVPS1

$33.71

+1.8%

+15.2%

$33.71

+1.8%

+15.2%

Excluding the previously disclosed $15.7mm loan recovery, core EPS was $1.45 (up 28% YoY) and core ROA was 1.43% (up 14bps YoY)1

Client deposits grew 5% QoQ driven by Trust and Commercial

Wealth and Trust fees grew 9% QoQ and 25% YoY

Returned $94.0mm of capital to shareholders in 1Q26, including $85.0mm in share repurchases (2.5% of outstanding shares4)

Board approved 18% dividend increase and additional 15% share repurchase authorization

1 These are non-GAAP financial measures and should be considered along with results prepared in accordance with GAAP, and not as a substitute for GAAP results. See Reconciliation of Non-GAAP for the most directly comparable GAAP measures

2 This constitutes net income attributable to WSFS; excludes net income attributable to noncontrolling interest

3 Tax-equivalent

4 Represents shares outstanding as of December 31, 2025

5 Reflects ACL on loans and leases over the amortized cost of the total portfolio

3.5%

3.0%

Average Deposit Cost and Loan Yield

Net Interest Margin Trends

NIM of 3.83%, flat quarter-over-quarter, while absorbing prior quarter interest rate cuts

6.60% 6.54% 6.60%

6.36% 6.22%

8.0%

6.8%

Loan yields down 14bps QoQ, primarily due to interest rate cuts, while client deposit costs decreased 12bps

March exit client deposit cost of 1.30%; exit interest-only beta of 46%

Net Interest Margin Deposit Betas2,3

Client Deposit Cost (%)

2.5%

2.0%

1.77%

1.68% 1.66%

5.6%

4.4%

4.80%

Loan Yield (%)

3.60%

2.40%

3.88% 3.83% 3.83%

60%

45%

30%

46%

1.5%

1.71%

1.63% 1.62%

1.51%

1.41%

1.45%

1.33%

3.2%

1.20%

41%

37%

38%

34%

29%

15%

1.0%

1Q25 2Q25 3Q25 4Q25 1Q26

2.0%

0.00%

Fed Funds %4 4.50% 3.75% 3.75%

1Q25 4Q25 1Q26 0%

Client Deposit Cost Total Funding Cost Total Loans Ex PAA Yield1

3Q25 4Q25 1Q26

1 Average total loan yield excludes purchase accounting accretion (PAA)

2 Deposit betas are based on cumulative client deposit costs for the down-cycle rate (September 2024 start); assumes Fed Funds of 3.75%

3 Betas are the average of the last month in a respective quarter unless otherwise stated

4 Fed funds is based on the exit rate and the upper bound of the range 5

Loan Portfolio Highlights

Commercial loan growth led by 7% annualized growth in C&I

EOP Loans - QoQ and YoY

($ in millions)

Mar 2026

Dec 2025

Mar 2025

QoQ

$ Growth

Annualized

% Growth

YoY

$ Growth

Growth

C & I Loans2

$4,849

$4,766

$4,651

$83

$198

Commercial Mortgages (CRE)

3,882

3,916

3,982

(34)

(4%)

(100)

(3%)

Construction Loans

1,034

1,024

869

165

19%

Commercial Leases

588

603

636

(15)

(10%)

(48)

(8%)

Total Commercial Loans

$10,353

$10,309

$10,138

$44

$215

Residential Mortgage (HFS/HFI)

1,127

1,120

992

135

14%

Consumer Loans - WSFS

1,046

1,038

906

140

15%

Consumer Loans - Partnership

808

856

1,127

(48)

(23%)

(319)

(28%)

Total Gross Loans

$13,334

$13,323

$13,163

$11

$171

Commercial Fundings and Line Activity ($mm)1

$700

$571

$58

$81

$165

$406

$325

$112

$295

$141

$126

$110

$177

$48

$66

$98

$85

$33

$263

$268

$201

$116

$121

-$2

-$58

$600

$500

$400

$300

$612

Commercial:

Strong overall fundings with C&I more than double year-over-year

Annualized loan growth of 6% over the past two quarters

C&I line utilization of 37.7%, up from 35.2% prior quarter

90-day weighted average pipeline of ~$270mm Consumer:

Residential mortgage originations up over 70% versus 1Q25

$200

$100

-$100

1Q25 2Q25 3Q25 4Q25 1Q26

1 Includes new loans, existing new funding, in-process, HFS, and net line activity. Excludes reclasses, purchase accounting marks/unearned changes, and commercial leases

2 C&I loans includes owner-occupied real estate 6

5% increase in ending client deposits QoQ, driven by Trust and Commercial

34% of average deposits are noninterest demand

100%

EOP Deposits by Product - QoQ and YoY

($ in millions)

Mar 2026

Dec 2025

Mar 2025

QoQ

$ Growth

Annualized

% Growth

YoY

$ Growth

Growth

Noninterest Demand

$6,372

$5,577

$4,947

$795

58%

$1,425

29%

Interest-bearing Demand

2,848

2,884

2,882

(36)

(5%)

(34)

(1%)

Savings

1,418

1,410

1,463

(45)

(3%)

Money Market

5,909

5,762

5,487

147

10%

422

Total Core Deposits

$16,547

$15,633

$14,779

$914

24%

$1,768

12%

Time Deposits

1,921

2,009

2,100

(88)

(18%)

(179)

(9%)

Total Client Deposits

$18,468

$17,642

$16,879

$826

19%

$1,589

80%

60%

40%

20%

Average Total Client Deposit Mix

30%

32%

33%

34%

17%

16%

15%

41%

40%

12%

11%

Deposit Highlights

5% quarter-over-quarter growth in client deposits including 14% growth in noninterest deposits

1Q25 2Q25 3Q25 4Q25 1Q26

Average Client Deposits By Business Line

Small Business

Ending balances reflect elevated client activity within Trust and Commercial

9% increase in ending client deposits YoY

Noninterest demand increased 29% YoY, driven by Trust and Commercial

53% of average client deposits are coming from Commercial, Small Business Banking, and Wealth and Trust

Commercial

23%

Consumer 47%

Banking 10%

Trust 13%

Wealth 7%

$100

$90

$80

Core Fee Revenue ($mm)

$70

$60

$50

$40

$30

$20

$10

Core Fee Revenue flat QoQ and up 11% YoY

Core Fee Revenue1

Continued double-digit year-over-year growth in Wealth and Trust

$22

$49

$19

$17

$24

$40

$81

$21

$23

$46

$90 $90

1Q25 4Q25 1Q26

Bryn Mawr Trust® 31%

BMT of DE 18%

WSFS

Institutional Services® 51%

Corporate Trust up 46% YoY due to higher custody and paying agent fees as we continue to gain market share

Ranked fourth most active U.S. ABS & MBS trustee with 11.7% market share2

Global Capital Markets up 47% YoY due to higher assignment fees from increased deal activity

Bryn Mawr Trust of Delaware up 27% YoY due to growth in accounts

Private Wealth Management up 14% YoY when excluding the two previously announced exits of Commonwealth and Powdermill

2 2025 Asset-Backed Alert; activity based on total issuance of deals in the year

Capital

All capital ratios remain significantly above "well-capitalized" even when considering Effective AOCI

1Q26 Capital Ratios including Effective AOCI Impact1,2

15.66%

$40

TBV2 and AOCI per Share

$33.71

16%

12%

$30

$20

$10

13.91%

10.51%

0.37%

10.02%

8.32%

1.70%

13.12%

10.14%

11.25%

2.66%

2.54%

($8.71)

$0 ($10)

CET1 Leverage TRBC TCE2

Effective AOCI represents the impact of a full liquidation of the investment portfolio

TCE of 10.02% when considering Effective AOCI

($20)

1Q22 3Q22 1Q23 3Q23 1Q24 3Q24 1Q25 3Q25 1Q26

Up $4.46 or 15% YoY in TBV per share

Tangible book value (TBV) of $33.71 per share includes a negative impact of $8.71 per share related to Reported AOCI1

1 Effective AOCI ($540.6mm) includes unrealized losses on AFS and unrecognized fair value of HTM as of March 31, 2026; reported AOCI of ($454.1mm)

2 This is a non-GAAP financial measure and should be considered along with results prepared in accordance with GAAP, and not as a substitute for GAAP results. See Reconciliation of Non-GAAP for the most directly 9

comparable GAAP measure

16%

CET1 Trend

Capital Return Framework

Board approved an 18% dividend increase and an additional 15% share repurchase authorization

CET1 medium-term target of ~12%

Total Capital Returned to Shareholders

>100% of 1Q26 net income returned to shareholders; Repurchased 2.5% of shares in 1Q261 and 11.5% since year-end 20242

14%

12%

10%

13.81% 13.92% 13.91%

$350.0

Millions

$300.0

$250.0

$200.0

$150.0

$324.7

Medium-Term Operating Target

$131.2

$94.0

$85.0

$9.0

$37.2

$35.8

$95.4

$287.5

4% $100.0

2% $50.0

YE24 YE25 1Q26

$0.0

2024 2025 1Q26

1 Represents shares outstanding as of December 31, 2025

2 Represents shares outstanding as of December 31, 2024 10

Millions

$600

$500

$400

$300

1Q25 2Q25 3Q25 4Q25 1Q26

3.6%

$504

$536

$630

$683

$684

4.02%

3.78%

2.4%

1.2%

0.0%

$100

Asset Quality Metrics

Problem Assets

$800

Nonperforming Assets (NPA)

0.57%

5.19%

6.0%

0.6%

4.84%

$150

$700

4.8%

Revised FY26 NCO Outlook

25bps to 35bps1,2

$125

0.5%

$75

$50

$25

1Q25 2Q25 3Q25 4Q25 1Q26

0.3%

$72

$73

$88

$106

$117

0.51%

0.40%

0.35%

0.34%

0.2%

0.0%

1Q 2026 Performance

Problem Assets and DLQ down significantly QoQ and YoY

NPA: Increased 6bps QoQ

Primarily due to two well-secured loans (C&I and multifamily)

Millions

$250

Delinquencies (DLQ) Net Charge-offs (NCO)1

Millions

1.50%

NCO: Decreased 57bps QoQ

1.13%

$148

$158

$168

$15

$20

$17

0.81%

0.76%

$43

$54

$105

$15

$35

$86

$101

$15

$26

$85

$87

$55

$67

$60

$200

$150

$100

1.22%

1.27%

1.20%

0.90%

0.60%

$40

$30

$20

$10

0.76%

$21

<$1

0.46%

0.30% 0.30%

-0.11%

1.0%

0.5%

0.0%

-0.5%

Primarily driven by partial charge offs

of two existing NPLs which were more than offset by the $15.7mm recovery

Non-Depository Financial Institutions:

$50

0.30%

0.00%

-$10

$5 $1

$1 $9

$14

-$4

-1.0%

-1.5%

-2.0%

$444mm (3.3% of gross loans)

0.11% problem loans

No NPAs, DLQs, or charge-offs

1Q25 2Q25 3Q25 4Q25 1Q26

Commercial Consumer Upstart % of Avg. Gross Loans4

No single portfolio segment is >33%

Govt. Guaranteed Ed.3

1 Excludes impacts from accounts receivable

% of Gross Loans

3 Includes fully government guaranteed and 98% government guaranteed student loans

2 The Company is not able to reconcile the forward-looking non-GAAP estimates set forth above to their most directly comparable GAAP estimates without unreasonable efforts because it is unable to predict, forecast or determine the probable significance of the items impacting these estimates with a reasonable degree of accuracy

4 Average gross loans net of unearned income, excluding loans held-for-sale 11

Loan & Leases ACL Overview

1Q 2026 ACL ($mm)

1Q 2026 ACL Commentary

$200

$190

$180

ACL coverage ratio1 of 1.36%; 1.46% including estimated remaining

$170

$160

$150

$180

($2)

($8)

ACL Ratio

1.36%

12/31/2025 New Originations

Forecast / Migration

Payoffs / Paydowns

NCO / Other 3/31/2026

credit mark on acquired loan portfolios

FY GDP forecast of 2.4% in 2026 and 2.7% in 20273

FY unemployment forecast of 4.5% in 2026 and 4.3% in 20273

ACL and Coverage Ratio by Segment

3.50%

3.00%

2.50%

2.00%

1.50%

1.00%

ACL % By Portfolio and Total1

1.64%

1.36%

1.26%

0.50%

1Q22 1Q23 1Q24 1Q25 1Q26

Commercial5

Consumer and Leasing Total ACL%

1 Reflects ACL on loans and leases over the amortized cost of the total portfolio

3 Source: Oxford Economics as of March 2026

4 NDFI loans are included in C&I; Hotel loans are included in the C&I and Construction

5 Commercial excludes Leasing

Investment Portfolio

High-quality investment portfolio providing consistent cash flows and borrowing capacity

Investments

Investment Portfolio1

$4.54bn

% of Total Assets1

21%

Portfolio Duration2

5.8yrs

Portfolio Yield2

2.43%

Agency MBS/Notes %

>95%

Reported AOCI

($454.1mm)

Effective AOCI3,4

($540.6mm)

Forecasting P&I cash flows of $1bn+ over the next 24 months

Reinvestment will support earnings stability and balance sheet flexibility

•

Reinvestment yields are expected to be accretive to portfolio yield and NIM

Deployment focused on Agency MBS (limited extension/prepayment)

$3.58bn

AFS

HTM

$600

$0.96bn

Millions

$450

$300

$150

Reported AOCI Trend

$549

$522

$475

$446

$454

1Q25 2Q25 3Q25 4Q25 1Q26

1 Investment portfolio value includes market value AFS and book value of HTM

2 Weighted average duration and yield of the MBS portfolio

3 This is a non-GAAP financial measure and should be considered along with results prepared in accordance with GAAP, and not as a substitute for GAAP results. See Reconciliation of Non-GAAP for the most directly comparable GAAP measure

4 Effective AOCI ($540.6mm) includes unrealized losses on AFS and unrecognized fair value of HTM as of March 31, 2026; assumes all securities, including HTM, are sold at market prices

Note: As of March 31, 2026, unless otherwise stated

Non-GAAP Information

This presentation contains financial measures determined by methods other than in accordance with accounting principles generally accepted in the United States (GAAP). This presentation may include the following non-GAAP measures:

Adjusted Net Income (non-GAAP) attributable to WSFS is a non-GAAP measure that adjusts net income determined in accordance with GAAP to exclude the realized/unrealized gain (loss) on equity investments, net, Visa derivative valuation adjustment, FDIC special assessment, loss on debt extinguishment, corporate development and restructuring expense, and remeasurement of lease liability;

Core noninterest income, also called Core Fee Revenue, is a non-GAAP measure that adjusts noninterest income as determined in accordance with GAAP to exclude the impact of realized/unrealized gain (loss) on equity investments, net, and Visa derivative valuation adjustment;

Core fee revenue ratio (%) is a non-GAAP measure that divides (i) Core Fee Revenue by (ii) Core Net Revenue (tax-equivalent);

Core net interest income is a non-GAAP measure that adjusts net interest income to exclude the impact of certain dividends;

Core Earnings Per Share (EPS) is a non-GAAP measure that divides (i) Adjusted Net Income (non-GAAP) attributable to WSFS by (ii) weighted average shares of common stock outstanding for the applicable period;

Core Net Revenue is a non-GAAP measure that adds (i) core net interest income and (ii) Core Fee Revenue;

Core Net Revenue (tax-equivalent) is a non-GAAP measure that adjusts core net revenue to include the impact of tax-equivalent income;

Core noninterest expense is a non-GAAP measure that adjusts noninterest expense as determined in accordance with GAAP to exclude FDIC special assessment, loss on debt extinguishment, corporate development and restructuring expenses, and remeasurement of lease liability;

Core Efficiency Ratio is a non-GAAP measure that divides (i) core noninterest expense by (ii) the sum of core interest income and Core Fee Revenue;

Core Return on Average Assets (ROA) is a non-GAAP measure that divides (i) Adjusted Net Income (non-GAAP) attributable to WSFS by (ii) average assets for the applicable period;

Effective AOCI is a non-GAAP measure that adds (i) unrealized losses on AFS securities, (ii) unrealized holding losses on securities transferred from AFS to HTM, and (iii) unrecognized fair value losses on HTM securities;

Tangible Common Equity (TCE) is a non-GAAP measure and is defined as total stockholders' equity of WSFS less goodwill and other intangible assets;

TCE Ratio is a non-GAAP measure that divides (i) TCE by (ii) tangible assets;

Tangible assets is a non-GAAP measure and is defined as total assets less goodwill and other intangible assets;

Adjusted tangible assets is a non-GAAP measure that adjusts tangible assets to include the impact of the liquidation of our investment securities portfolio;

Return on average tangible common equity (ROTCE) is a non-GAAP measure and is defined as net income allocable to common stockholders divided by tangible common equity;

Core ROTCE is a non-GAAP measure that is defined as adjusted net income (non-GAAP) attributable to WSFS divided by tangible common equity;

Net tangible income is a non-GAAP measure that adjusts net income determined in accordance with GAAP to exclude the impact of the amortization of intangible assets;

Core net tangible income is a non-GAAP measure that adjusts adjusted net income (non-GAAP) attributable to WSFS to exclude the impact of the amortization of intangible assets;

Tangible common book value per share (TBV) is a non-GAAP financial measure that divides (i) TCE by (ii) shares outstanding;

Tangible common equity including effective AOCI is a non-GAAP measure that adjusts tangible common equity to include effective AOCI;

Pre-provision Net Revenue (PPNR) is a non-GAAP measure that adjusts net income determined in accordance with GAAP to exclude the impacts of (i) income tax provision and (ii) provision for credit losses;

Core PPNR is a non-GAAP measure that adjusts PPNR to exclude the impact of realized/unrealized gain (loss) on equity investments, net, Visa derivative valuation adjustment, FDIC special assessment, loss on debt extinguishment, corporate development and restructuring expenses, and remeasurement of lease liability;

Core Return on Average Equity (ROE) is a non-GAAP measure that divides (i) Adjusted Net Income (non-GAAP) attributable to WSFS by (ii) average stockholders' equity for the applicable period;

Adjusted risk weighted assets is a non-GAAP measure that adjusts the Corp's risk weighted assets determined in accordance with GAAP to include the impact of the liquidation of our investment securities portfolio;

Adjusted average assets is a non-GAAP measure that adjusts the Corp's average assets determined in accordance with GAAP to include the impact of the liquidation of our investment securities portfolio;

Adjusted tangible assets is a non-GAAP measure that adjusts tangible assets to include the impact of the liquidation of our investment securities portfolio;

Adjusted total risk-based capital is a non-GAAP measure that adjusts total risk-based capital determined in accordance with GAAP to include effective AOCI;

Adjusted total risk-based capital ratio is a non-GAAP measure that divides (i) adjusted total risk-based capital by (ii) adjusted risk weighted assets;

Adjusted common equity Tier 1 capital is a non-GAAP measure that adjusts common equity Tier 1 capital determined in accordance with GAAP to include effective AOCI;

Adjusted common equity Tier 1 capital ratio is a non-GAAP measure that divides (i) adjusted common equity Tier 1 capital by (ii) adjusted risk weighted assets;

Adjusted Tier 1 capital is a non-GAAP measure that adjusts Tier 1 capital determined in accordance with GAAP to include effective AOCI;

Adjusted Tier 1 leverage ratio is a non-GAAP measure that divides (i) adjusted Tier 1 capital by (ii) adjusted average assets; and

Coverage ratio including the remaining credit marks is a non-GAAP measure that adjusts the coverage ratio to include the impact of the remaining credit marks on the acquired loan portfolios.

Three Months Ended

(dollars in thousands)

March 31, 2026

December 31, 2025

March 31, 2025

Net interest income (GAAP)

$ 185,136

$ 187,353

$ 175,216

Core net interest income (non-GAAP)

$ 185,136

$ 187,353

$ 175,216

Noninterest income (GAAP)

$ 90,115

$ 84,521

$ 80,897

Plus: Unrealized loss on equity investments, net

(4,057)

(Plus)/less: Visa derivative valuation adjustment

(1,500)

Core fee revenue (non-GAAP)

$ 90,115

$ 90,078

$ 80,897

Core net revenue (non-GAAP)

$ 275,251

$ 277,431

$ 256,113

Core net revenue (non-GAAP) (tax-equivalent)

$ 275,780

$ 277,957

$ 256,568

Noninterest expense (GAAP)

$ 162,765

$ 161,973

$ 151,795

Less: Loss on debt extinguishment

1,151

Less: Corporate development expense

Less/(plus): Restructuring expense

2,796

(126)

260

Core noninterest expense (non-GAAP)

$ 159,912

$ 160,893

$ 151,476

Core efficiency ratio (non-GAAP)

58.0 %

57.9 %

59.0 %

Core fee revenue ratio (non-GAAP)(tax-equivalent)

32.7 %

32.4 %

31.5 %

Three Months Ended

(dollars in thousands, except per share data) March 31, 2026 December 31, March 31, 2025

(dollars in thousands) March 31, 2026

2025

Calculation of effective AOCI:

Calculation of tangible common equity ratio:

Unrealized losses on AFS securities

$ 385,270

Total Assets (GAAP)

$ 22,106,915

$ 21,314,076

$ 20,548,950

Unrealized losses on securities transferred from AFS to HTM

60,542

Less: Goodwill and other intangible assets

966,388

969,903

983,882

Unrecognized fair value on HTM securities

94,824

Total tangible common equity (non-GAAP)

Equity to asset ratio (GAAP)

Tangible common equity to tangible assets ratio (non-GAAP)

Effective AOCI (non-GAAP) $ 540,636

Appendix: Non-GAAP Financial Information

Total tangible assets (non-GAAP)

$ 21,140,527

$ 20,344,173

$ 19,565,068

Total stockholders' equity of WSFS (GAAP)

$ 2,724,493

$ 2,738,545

$ 2,671,614

Less: Goodwill and other intangible assets 966,388

969,903

983,882

$ 1,758,105

$ 1,768,642

$ 1,687,732

12.32 %

12.85 %

13.00 %

8.32 %

8.69 %

8.63 %

Calculation of coverage ratio including the estimated remaining credit marks:

Coverage ratio 1.36 %

Plus: Estimated remaining credit marks on the acquired loan portfolios 0.10 Coverage ratio including the estimated remaining credit marks (non-GAAP) 1.46 %

(dollars in thousands, except per share data)

March 31, 2026

Three Months Ended

December 31, 2025

March 31, 2025

GAAP net income attributable to WSFS

$ 86,827

$ 72,678

$ 65,896

Plus/(less): Pre-tax adjustments1

2,853

6,637

319

(Less)/plus: Tax impact of pre-tax adjustments

(639)

(1,637)

(78)

Adjusted net income (non-GAAP) attributable to WSFS

$ 89,041

$ 77,678

$ 66,137

Net income (GAAP)

$ 86,845

$ 72,694

$ 65,867

Plus: Income tax provision

27,639

24,538

21,101

Plus: Provision for credit losses

(1,998)

12,669

17,350

PPNR (Non-GAAP)

112,486

109,901

104,318

Plus/(less): Pre-tax adjustments1

2,853

6,637

319

Core PPNR (Non-GAAP)

$ 115,339

$ 116,538

$ 104,637

GAAP return on average assets (ROA)

1.61 %

1.33 %

1.29 %

Plus/(less): Pre-tax adjustments1

0.05

0.12

0.01

(Plus)/less: Tax impact of pre-tax adjustments

(0.01)

(0.03)

(0.01)

Core ROA (non-GAAP)

1.65 %

1.42 %

1.29 %

Less: Impact of loan recovery (after-tax)

0.22

Core ROA excluding loan recovery (non-GAAP)

1.43 %

1.42 %

1.29 %

Earnings per share (diluted)(GAAP)

$ 1.64

$ 1.34

$ 1.12

Plus/(less): Pre-tax adjustments1

0.05

0.12

0.01

(Plus)/less: Tax impact of pre-tax adjustments

(0.01)

(0.03)

Core earnings per share (non-GAAP)

$ 1.68

$ 1.43

$ 1.13

Less: Impact of loan recovery (after-tax)

0.23

Core EPS excluding loan recovery (non-GAAP)

$ 1.45

$ 1.43

$ 1.13

Appendix: Non-GAAP Financial Information

1 Pre-tax adjustments include realized/unrealized gain (loss) on equity investments, net, Visa derivative valuation adjustment, loss on debt extinguishment, and corporate development and restructuring expense

Three Months Ended

(dollars in thousands) March 31, 2026 December 31, 2025 March 31, 2025

Calculation of return on average tangible common equity:

GAAP net income attributable to WSFS

$ 86,827

$ 72,678

$ 65,896

Plus: Tax effected amortization of intangible assets

2,778

2,782

2,945

Net tangible income (non-GAAP)

$ 89,605

$ 75,460

$ 68,841

Average stockholders' equity of WSFS

$ 2,769,574

$ 2,742,480

$ 2,637,354

Less: Average goodwill and intangible assets

968,555

972,332

986,738

Net average tangible common equity

$ 1,801,019

$ 1,770,148

$ 1,650,616

Return on average equity (GAAP)

12.71

10.51

10.13

Return on average tangible common equity (non-GAAP)

20.18

16.91

Calculation of core return on average tangible common equity:

Adjusted net income (non-GAAP) attributable to WSFS

$ 89,041

$ 77,678

$ 66,137

Plus: Tax effected amortization of intangible assets

2,778

2,782

2,945

Core net tangible income (non-GAAP)

$ 91,819

$ 80,460

$ 69,082

Net average tangible common equity

$ 1,801,019

$ 1,770,148

$ 1,650,616

Core return on average equity (non-GAAP)

13.04

11.24

10.17

Core return on average tangible common equity (non-GAAP)

20.68

18.03

16.97

Appendix: Non-GAAP Financial Information

(dollars in thousands)

As of March 31,

2026

(dollars in thousands)

As of March 31,

2026

Calculation of adjusted common equity Tier 1 capital:

Common equity tier 1 capital (GAAP) $ 2,237,226

Less: Effective AOCI (non-GAAP) 540,636

Adjusted common equity tier 1 capital (non-GAAP) $ 1,696,590 Risk Weighted Assets (GAAP) $ 16,085,590 Less: Debt securities 1,008,284

Adjusted Risk Weighted Assets (non-GAAP) $ 15,077,306

Common equity Tier 1 capital (GAAP) 13.91 % Adjusted common equity Tier 1 capital ratio (non-GAAP) 11.25 %

Calculation of adjusted Tier 1 leverage:

Tier 1 capital (GAAP)

$ 2,237,226

Less: Effective AOCI (non-GAAP)

540,636

Adjusted Tier 1 capital (non-GAAP)

$ 1,696,590

Average assets (Corp) (GAAP)

$ 21,296,226

Less: Average debt securities

4,559,582

Adjusted average assets (non-GAAP)

$ 16,736,644

Tier 1 leverage (GAAP)

10.51 %

Adjusted Tier 1 leverage (non-GAAP) 10.14 %

Calculation of adjusted total risk-based capital:

Total risk-based capital (GAAP) $ 2,518,296

Less: Effective AOCI (non-GAAP) 540,636

Adjusted total risk-based capital (non-GAAP) $ 1,977,660

Risk Weighted Assets (GAAP) $ 16,085,590 Adjusted Risk Weighted Assets (non-GAAP) 15,077,306 Total risk-based capital (GAAP) 15.66 % Adjusted total risk-based capital ratio (non-GAAP) 13.12 %

Calculation of adjusted tangible common equity to tangible assets ratio (non-GAAP):

Total tangible assets (non-GAAP) $ 21,140,527 Less: Investment securities, AFS & HTM 4,540,113 Total adjusted tangible assets (non-GAAP) $ 16,600,414

Total tangible common equity (non-GAAP) $ 1,758,105 Less: Unrecognized fair value on HTM securities 94,824 Total adjusted tangible common equity (non-GAAP) $ 1,663,281 Tangible common equity to tangible assets ratio (non-GAAP) 8.32 %

Tangible common equity to tangible assets ratio including

effective AOCI (non-GAAP) 10.02 %

Disclaimer

WSFS Financial Corporation published this content on April 23, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 23, 2026 at 21:20 UTC.