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WSFS Financial Corp - WSFS STOCK NEWS

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.

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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.

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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.

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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.

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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.

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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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WSFS Bank has partnered with Upstart to launch a new digital personal loans product aimed at enhancing customer access to tailored lending solutions. The collaboration combines Upstart's advanced AI technology with WSFS's longstanding community banking experience, enabling a more affordable and inclusive personal loan offering. As of June 30, 2021, WSFS Financial Corporation reported $15.1 billion in assets, serving a diverse client base across multiple states. This partnership aligns with WSFS's commitment to digital transformation in delivering better banking experiences.

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WSFS Financial Corporation (Nasdaq: WSFS) will participate virtually in the 2021 Stephens Annual Bank Forum on September 22, 2021. The discussion will be hosted by Chairman and CEO Rodger Levenson and CFO Dominic C. Canuso. Presentation materials, including the current Investor Presentation, will be available on WSFS' website.

As of June 30, 2021, WSFS had $15.1 billion in assets and $26.7 billion in assets under management. The company operates 112 offices across several states, providing a range of financial services since 1832.

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WSFS Bank has appointed John Ventura as Senior Vice President and Senior Private Banking Relationship Manager in its Wealth Private Banking division. Ventura brings over 15 years of experience from PNC Wealth Management, focusing on enhancing client relationships and providing financial strategies. His expertise includes private banking, financial planning, and asset management. As of June 30, 2021, WSFS Financial Corporation reported $15.1 billion in assets and $26.7 billion in assets under management. This appointment aims to bolster the bank's comprehensive financial service offerings.

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WSFS Financial Corporation has received reaffirmed credit ratings from Kroll Bond Rating Agency (KBRA), maintaining its senior unsecured debt rating at A- and subordinated debt rating at BBB+. Notably, WSFS Bank also received strong ratings, reflecting its stable fee base and diversified business segments, particularly in wealth management. The company’s expansion through strategic mergers and acquisitions has enhanced its operational scale. As of June 30, 2021, WSFS reported $15.1 billion in assets, supporting its market position, which is set to strengthen following the closure of the Bryn Mawr Trust Corporation transaction.

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WSFS Financial Corporation has received approval from the Office of the Comptroller of the Currency (OCC) for its merger with Bryn Mawr Bank Corporation. The transaction is expected to close in Q4 2021, pending regulatory approvals and other conditions. A system conversion and rebranding are scheduled for January 2022. Chairman and CEO Rodger Levenson expressed optimism about the merger, highlighting efforts from both companies to ensure a smooth integration for associates and customers.

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FAQ

What is the current stock price of WSFS Financial (WSFS)?

The current stock price of WSFS Financial (WSFS) is $52.9 as of December 20, 2024.

What is the market cap of WSFS Financial (WSFS)?

The market cap of WSFS Financial (WSFS) is approximately 3.2B.

What does WSFS Financial Corp do?

WSFS Financial Corp provides a range of financial services including loans, leases, ATM cash management, and wealth management.

Where is WSFS Financial Corp headquartered?

WSFS Financial Corp is headquartered in Wilmington, Delaware.

What is WSFS Financial Corp’s mission?

WSFS Financial Corp’s mission is encapsulated in its motto, 'We Stand for Service®'.

How many branches does WSFS Bank have?

WSFS Bank has 43 branches across Delaware and Southeastern Pennsylvania.

What services does WSFS Bank offer?

WSFS Bank offers loans, leases, and other financial products for commercial and consumer customers.

What is Cash Connect?

Cash Connect is a segment of WSFS Financial Corp that provides ATM vault cash, smart safe, and other cash logistics services.

What does the Wealth Management segment of WSFS do?

The Wealth Management segment offers planning, advisory services, investment management, and trust services for individuals, corporate, and institutional clients.

What recognition has WSFS Financial Corp received?

WSFS Financial Corp has been listed as one of the top workplaces by The News Journal for nine consecutive years.

How does WSFS Financial Corp generate its revenue?

WSFS Financial Corp primarily generates revenue through its WSFS Bank segment.

What is the history of WSFS Financial Corp?

WSFS Financial Corp was founded in 1832 and has grown from a small operation to a leading community bank with innovative services.

WSFS Financial Corp

Nasdaq:WSFS

WSFS Rankings

WSFS Stock Data

3.16B
58.26M
1.07%
91.47%
1.86%
Banks - Regional
National Commercial Banks
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United States of America
WILMINGTON