WSFS Financial Corp - WSFS STOCK NEWS

WSFS Financial Corporation announced its third-quarter financial results for 2020, reporting net income of $51.1 million and diluted earnings per share (EPS) of $1.01. While net interest income decreased to $113.0 million, core pre-provision net revenue (PPNR) rose to $68.0 million, reflecting solid business performance. Customer deposits increased by 25% year-over-year, totaling $11.1 billion, bolstered by COVID-19 stimulus effects. The Board approved a quarterly dividend of $0.12 per share and the resumption of share repurchases, reflecting confidence in the company's healthy capital position.

WSFS Financial Corporation (Nasdaq: WSFS) plans to announce its third quarter earnings on October 22, 2020, with a conference call scheduled for October 23, 2020, at 1:00 p.m. EDT. As of June 30, 2020, the company reported $13.6 billion in assets and $20.8 billion in assets under management. Founded in 1832, WSFS Bank is the oldest and largest locally managed bank in Delaware and the greater Philadelphia region, operating 115 offices across several states, offering a wide range of financial services.

WSFS Bank has pledged $35,500 to provide laptops, tablets, and internet devices for students from low-to-moderate income families, addressing the technology gap exacerbated by the pandemic. The funds will assist organizations including United Way of Delaware and KIPP School in Camden, NJ. This initiative aligns with WSFS's commitment to support education and the community, following previous donations totaling $500,000 for COVID-19 relief. The Community Foundation aims to enhance public education and economic growth in underserved areas.

WSFS Financial Corporation (NASDAQ: WSFS) will participate in the virtual Stephens Bank Forum on September 23-24, 2020. Key executives, including Chairman Rodger Levenson and CFO Dominic C. Canuso, will engage in one-on-one meetings with analysts and investors. The company will also present its 2Q 2020 Investor Presentation, available on their website. As of June 30, 2020, WSFS reported $13.6 billion in assets and $20.8 billion in assets under management, operating 115 offices across multiple states.

WSFS Bank has appointed Scott H. Kintzing as Senior Vice President and Senior Relationship Manager for Commercial Banking, focusing on the Southern New Jersey market. Kintzing brings over 45 years of experience in commercial lending and business development, having previously held senior roles at Investors Bank and Fulton Financial Corporation. The move aims to enhance WSFS's commercial lending capabilities in the region, aligning with the bank's commitment to supporting local economic growth.

WSFS Bank has appointed Michael L. Conklin as the new Executive Vice President and Chief Human Resources Officer. He will focus on talent transformation and culture development. Rodger Levenson, CEO, emphasized the importance of WSFS Associates and culture as drivers of success. Conklin brings over 25 years of HR experience from US Bank and Pentair. The transition aligns with succession planning as Chief Associate and Customer Experience Officer Peggy Eddens prepares for retirement. WSFS Financial Corporation, as of June 30, 2020, reported $13.6 billion in assets.

Kroll Bond Rating Agency has reaffirmed WSFS Financial Corporation's (NASDAQ: WSFS) credit ratings, maintaining a senior debt rating of A-, subordinated debt rating of BBB+, and a short-term debt rating of K2. WSFS Bank also earned high ratings, including A ratings for senior unsecured debt and deposits. The reaffirmation reflects the company's strong balance sheet and diversified fee-based solutions, especially in wealth management. As of June 30, 2020, WSFS had $13.6 billion in assets and $20.8 billion in assets under management, with a well-positioned market presence.

WSFS Bank has appointed Salvatore J. Patti as Senior Vice President, Director of Commercial Banking and Wealth Client Management for Greater Philadelphia. Patti brings 30 years of banking experience, most recently serving at PNC Wealth Management. His role will focus on enhancing WSFS's brand and market share in the region. WSFS Financial Corporation currently manages $13.6 billion in assets, with extensive financial services across 115 offices in multiple states. Patti's community involvement includes leadership positions with various local organizations.

WSFS Financial Corporation (Nasdaq: WSFS) will participate in the Piper Sandler Financial Services Virtual Conference on August 5 and 7, 2020. Key executives, including Rodger Levenson (Chairman and CEO), Dominic C. Canuso (CFO), and Steve Clark (Commercial Banking Officer), will hold one-on-one meetings with analysts and investors. Additionally, WSFS will present its 2Q 2020 Investor Presentation, available on its Investor Relations website. As of June 30, 2020, WSFS reported $13.6 billion in assets and $20.8 billion in assets under management, operating from 115 locations across several states.