Welcome to our dedicated page for WSFS Financial news (Ticker: WSFS), a resource for investors and traders seeking the latest updates and insights on WSFS Financial stock.
WSFS Financial Corp is a savings and loan holding company with a rich history dating back to 1832. Headquartered in Wilmington, Delaware, WSFS Financial Corp operates through three primary segments: WSFS Bank, Cash Connect, and Wealth Management.
WSFS Bank is the core segment, providing a comprehensive range of banking services including loans, leases, and other financial products tailored for both commercial and consumer customers. With 43 branches spread across Delaware and Southeastern Pennsylvania, WSFS Bank stands as a community-oriented institution focused on innovation and customer satisfaction.
Cash Connect, another vital segment, offers ATM vault cash, smart safe, and other cash logistics services. It plays a significant role in supporting the cash management needs of businesses and financial institutions, ensuring secure and efficient cash handling.
The Wealth Management division provides an extensive array of services that include planning, advisory services, investment management, and personal and institutional trust services. This segment caters to individuals, corporations, and institutional clients, helping them achieve their financial goals with a range of credit and deposit products.
Known for its commitment to service, WSFS Financial Corp's mission is encapsulated in its motto, “We Stand for Service®”. This mission has been a guiding principle since the company's inception. WSFS is also recognized as one of the top workplaces, reflecting its positive work environment and strong community ties.
In terms of financial performance, WSFS Financial Corp primarily generates revenue from its banking segment. The company is dedicated to evolving its services to meet the changing needs of its customers through the adoption of innovative technologies.
WSFS Financial Corporation (Nasdaq: WSFS) announced the recognition of three associates, Steve Dunn, Cody Snyder, and Erik O’Neal, in the American Bankers Association’s Under 40 in Wealth Management awards. This marks the second consecutive year WSFS has had multiple winners, highlighting the firm's strong expertise in wealth management. Dunn is a financial advisor, Snyder is senior trust counsel, and O’Neal is an advisor at West Capital Management. They will be honored at the ABA’s virtual Wealth Management and Trust Conference on February 15-16, 2022.
WSFS Financial Corporation (Nasdaq: WSFS) will participate in the virtual D.A. Davidson Mid-Atlantic Bank Tour on November 17, 2021. Chairman and CEO Rodger Levenson and CFO Dominic C. Canuso will engage with investors. The company’s current Investor Presentation is accessible on its website. As of September 30, 2021, WSFS reported $15.4 billion in assets and $27.6 billion in assets under management. Operating 112 offices, WSFS Bank is the largest locally managed bank in Delaware and the Greater Philadelphia region.
WSFS Financial Corporation (Nasdaq: WSFS) will participate in the Piper Sandler East Coast Financial Services Conference on November 11, 2021, in Naples, Florida. Chairman Rodger Levenson and CFO Dominic C. Canuso will engage with investors. The company’s current Investor Presentation is available on their website. As of September 30, 2021, WSFS reported $15.4 billion in assets and $27.6 billion in assets under management. Operating with 112 offices, WSFS Bank has a long-standing history in the Delaware and Greater Philadelphia regions, providing comprehensive financial services since 1832.
WSFS Bank has promoted seven Associates to Senior Vice President (SVP) across various business lines. The newly appointed SVPs include James Boston (Real Estate Services), Robin Marandola (Commercial Loan Operations), Bernadette Powell (Fair and Responsible Banking), Theodore Quillen (Wealth Investments), Lisa Shaw (Business Strategy), Norman Smith (Senior Credit Officer), and Drew Walls (Business Banking). The bank emphasizes career development for its Associates and looks forward to their continued contributions. WSFS Financial Corporation has $15.4 billion in assets as of September 30, 2021.
WSFS Bank has launched a digital electronic payables solution to enhance its technology suite, aimed at simplifying accounts payable for Commercial Banking Customers. This integrated solution replaces traditional paper-based processes, allowing businesses to manage payments digitally, reducing errors, fraud risk, and processing costs. Customers can execute various payment formats, including checks, ACH, and virtual cards, potentially increasing revenue through card transactions. As of September 30, 2021, WSFS Financial Corporation had $15.4 billion in assets.
WSFS Bank, a subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), has launched its 18th Annual Fall Food Drive to address food insecurity in the Greater Philadelphia and Delaware regions. The drive will run until December 31, 2021, collecting nonperishable food items at various banking locations, aiming to exceed the 56,000 meals provided in 2020. With an estimated 42 million Americans facing food insecurity, WSFS is collaborating with local organizations to distribute the collected food. Additionally, WSFS is sponsoring the Camp Out for Hunger event to further support hunger relief efforts.
WSFS Financial Corporation (Nasdaq: WSFS) reported its 3Q 2021 financial results, showing a net income of $54.4 million, up from $51.1 million in 3Q 2020. However, net interest income declined to $104.5 million, an 8% decrease from the previous year. The Common Equity Tier 1 capital ratio improved to 14.59%. Despite a decrease in loan balances, customer deposits increased by 14% year-over-year, totaling $12.7 billion. The company is progressing with its acquisition of Bryn Mawr Bank Corporation, which is expected to boost growth opportunities.
WSFS Bank has appointed Shari Kruzinski as Executive Vice President and Chief Customer Officer, reporting to Rodger Levenson. Kruzinski will lead the bank's Customer division and oversee retail operations, ensuring customer needs are prioritized as the bank grows. She has over 30 years of banking experience, having started at WSFS in 1989. This leadership change follows Peggy Eddens' upcoming retirement after 14 years with the company. WSFS Financial Corporation has $15.1 billion in assets and serves the Greater Delaware Valley.
WSFS Financial Corporation (Nasdaq: WSFS) is set to announce its third quarter earnings on October 21, 2021, after market close. The management will hold a conference call on October 22, 2021, at 1:00 p.m. EDT to discuss the results, accessible by dialing 1-877-312-5857 with the conference ID #6366609. A rebroadcast will be available from October 22 to November 2, 2021. As of June 30, 2021, WSFS held $15.1 billion in assets and $26.7 billion in assets under management from 112 offices across several states.
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