Wsfs financial corporation (WSFS)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Operating activities:
Net income attributable to WSFS

147,918

134,743

50,244

64,080

53,533

53,757

46,882

31,311

22,677

14,117

663

Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses

25,560

13,170

10,964

12,986

7,790

3,580

7,172

32,053

27,996

41,883

47,811

Depreciation of premises and equipment, net

15,852

8,329

8,557

7,477

6,333

5,951

6,007

5,139

5,015

4,979

-

(Accretion) amortization of fees and discounts, net

-45,548

15,255

19,082

19,626

18,490

10,836

10,367

-

-

-

-

Amortization of intangible assets

11,113

2,942

3,078

2,438

1,847

1,263

962

-

-

-

-

Amortization of right of use lease asset

22,850

-

-

-

-

-

-

-

-

-

-

Decrease in operating lease liability

12,507

-

0

-

-

-

-

-

-

-

-

Income from mortgage banking activities, net

11,053

6,286

6,293

7,434

5,896

3,994

3,980

2,846

1,524

2,257

1,646

Gain on sale of equity investments, net

-

-

-

0

-

-

-

-

-

-

-

Gain on sale of securities, net

333

21

1,984

2,369

1,478

1,037

3,641

21,300

4,878

782

2,022

Gain on mark to market adjustment on trading securities

-

-

-

-

-

0

125

-125

-

-249

-1,368

Loss on sale of other real estate owned and valuation adjustments, net

-125

-100

-217

-313

-

-

-

-

-

-

-

Debt extinguishment cost

0

0

-695

0

0

-

-

-

-

-

-

Reverse mortgage consolidation gain

-

-

-

-

-

0

3,801

-

-

-

-

Increase Decrease In Trading Securities

-

-

-

-

-

-

-

-

-

-

-119

Stock-based compensation expense

3,608

2,292

3,396

3,046

4,095

4,535

3,621

1,976

1,810

796

874

Unrealized gain on equity investments, net

26,175

20,745

0

0

-

-

-

-

-

-

-

Deferred income tax (benefit) expense

7,074

3,378

17,899

5,370

2,231

-5,664

755

3,591

2,978

-2,183

-8,384

Increase in accrued interest receivable

-1,406

2,596

2,378

2,009

1,334

984

1,146

-2,091

-22

-959

-798

Amortization, net

-

-

-

-

-

-

-

12,261

6,123

1,685

6,953

Decrease (increase) in other assets

4,676

6,297

2,517

-443

1,643

1,455

-5,470

-2,491

3,076

-2,996

-22,035

Origination of loans held for sale

479,289

351,108

354,659

366,859

573,703

230,841

250,083

190,961

97,883

138,624

90,628

Proceeds from sales of loans held for sale

406,012

352,002

369,986

346,895

563,588

235,908

254,135

222,369

104,133

134,560

86,163

Realized gains on sale of equity investment

0

3,757

0

-

-

-

-

-

-

-

-

Excess tax benefit from stock-based compensation

-

-

-

-

-

-

683

399

776

341

80

Increase in accrued interest payable

1,203

863

-114

350

-203

-65

-261

-811

-1,407

-1,038

-2,553

Increase (decrease) in other liabilities

30,922

-2,931

7,353

3,709

6,502

2,054

-12,465

4,763

13,152

2,150

5,741

Disposal Group Not Discontinued Operation Gain Loss On Disposal

-

-

-

-

-

-

-

-

-

-

1,857

Loss on sale of premises and equipment

-

-

-

-

-

-

-

-

-115

-

0

Loss on sale of OREO and valuation adjustments, net

-

-

-

-

-319

-144

-868

-3,701

-4,049

-3,766

-

(Recovery of) provision for legal settlement

0

0

12,000

0

0

-

-

-

-

-

-

Decrease (increase) in value of bank owned life insurance

806

158

1,130

2,551

776

700

270

1,544

2,035

732

917

Increase in capitalized interest, net

3,390

3,601

4,228

5,331

5,518

5,435

2,653

728

143

-287

464

Loss on sale of assets acquired through foreclosure and valuation adjustments, net

-

-

-

-

-

-

-

-

-

-

1,905

Net cash provided by operating activities

89,866

135,574

130,168

80,180

74,177

67,853

57,381

103,032

76,348

61,972

21,881

Investing activities:
Purchases of investment securities held to maturity

-

-

-

3,329

48,184

1,295

-

-

-

-

-

Repayments, maturities and calls of investment securities held-to-maturity

16,170

9,245

1,230

2,890

5,551

4,572

770

9,039

11,943

12,380

22,591

Sale of investment securities available-for-sale

618,200

7,000

457,000

201,580

192,933

229,515

274,070

769,982

335,959

154,644

0

Purchases of investment securities available-for-sale

958,259

498,465

696,581

371,590

277,963

286,915

335,584

941,376

621,138

393,175

19,070

Repayments of investment securities available-for-sale

269,697

112,665

197,765

85,200

100,485

79,006

90,041

131,212

175,691

204,414

-

Net increase in loans

-201,934

101,174

343,858

217,572

275,162

86,618

207,043

96,435

-189,701

-43,062

109,261

Proceeds from BOLI surrender/death benefit

59,710

96,429

371

0

0

-

-

-

-

-

-

Net cash from business combinations

76,072

0

0

-39,794

-40,863

-8,660

4,029

-

-

-40,332

0

Proceeds from bank-owned life insurance surrender

-

-

-

0

-

-

-

-2,021

-2,886

-

0

Proceeds from loan disposition

-

-

-

-

-

-

-

-

-

3,775

-

Sales of loans

-

-

-

-

-

-

-

-

-

-

-22,270

Sales of Mortgage Backed Securities available for sale

-

-

-

-

-

-

-

-

-

-

111,214

Repayments of Mortgage Backed Securities available for sale

-

-

-

-

-

-

-

-

-

-

151,571

Purchases of mortgage-backed securities available for sale

-

-

-

-

-

-

-

-

-

-

424,813

Repayments on reverse mortgages

-

-

-

-

-

14,677

4,929

-

264

-62

207

Disbursements for reverse mortgages

-

-

-

-

-

1,212

391

189

441

193

202

Cash received in consolidation of reverse mortgage securitization trust

-

-

-

-

-

-

5,833

-

-

-

-

Purchases of Visa Class B shares

0

1,568

10,072

387

3,589

-

-

-

-

-

-

Sale of Visa Class B shares

0

6,186

0

0

-

-

-

-

-

-

-

Purchases of stock of Federal Home Loan Bank of Pittsburgh

394,428

169,613

160,089

88,176

66,955

32,263

4,704

-4,591

-1,780

-1,965

0

Redemptions of stock of Federal Home Loan Bank of Pittsburgh

415,771

181,638

167,053

80,447

59,714

44,854

-

-

-

-

-

Sales of other real estate owned

3,089

3,037

6,077

4,423

4,828

5,191

6,511

14,016

11,611

8,887

3,274

Proceeds from the sale of premises and equipment

-

-

-

-

-

-

-

-

824

-

0

Payments For Proceeds From Other Investing Activities

-

-

-

-

-

-

-

-

-

-

-119

Investment in premises and equipment

14,198

5,500

7,728

9,873

8,362

4,736

2,863

8,111

10,494

5,732

6,776

Sales of premises and equipment

71

198

0

0

-

-

-

-

-

-

-

Net cash used for investing activities

293,823

-359,910

-388,786

-276,593

-275,841

-26,564

-172,460

-115,250

-280,816

-15,703

-248,876

Financing activities:
Net increase in demand and saving deposits

69,761

393,827

353,521

272,544

159,587

226,400

63,498

393,493

285,398

169,381

347,401

(Decrease) increase in time deposits

-55,400

43,871

35,887

-51,416

-103,710

-23,906

-153,113

-147,372

-23,381

20,336

-7,255

Increase (decrease) in brokered deposits

-156,396

-31,712

90,482

-17,928

-30,228

18,231

-1,914

-117,361

38,804

-99,689

-

Decrease in loan payable

0

0

338

-370

61

-370

-698

1,727

-

-

-

Receipts from FHLB advances

32,320,456

83,721,532

143,852,751

121,977,563

63,310,841

78,831,426

48,790,848

39,981,624

14,046,295

25,128,164

30,481,564

Repayments of FHLB advances

32,536,246

84,103,068

143,996,986

121,792,841

63,047,221

79,068,675

48,529,067

40,143,996

13,996,572

25,252,349

30,684,378

Repayment of securities sold under agreement to repurchase

-

-

-

-

-25,000

-

-

-

-

-

-

Repayment of reverse mortgage trust bonds payable

-

-

-

-

-

21,990

4,349

-

-

-

-

Receipts from federal funds purchased

32,252,775

21,239,675

23,008,000

27,702,620

31,887,100

25,741,826

21,291,625

19,027,675

13,350,000

18,470,000

-

Repayments of federal funds purchased

32,215,750

21,109,700

23,110,000

27,700,820

31,862,125

25,710,601

21,304,625

18,967,675

13,400,000

18,470,000

18,897,995

Repayment of long-term debt

-

-

-

10,000

0

-

-

-

-

-

-

Proceeds From Issuance Of Unsecured Debt

-

-

-

-

-

-

-

-

-

-

30,000

Dividends paid

22,463

13,249

9,425

7,632

6,002

4,644

5,998

6,810

6,718

6,206

5,214

Proceeds From Issuance Of Preferred Stock

-

-

-

-

-

-

-

-

-

-

52,625

Issuance of common stock and exercise of common stock options

7,755

11,253

3,421

1,900

3,160

3,613

4,353

2,503

1,124

48,763

25,982

Redemption of senior debt

0

0

55,000

0

0

-

-

-

-

-

-

Net decrease in brokered deposits

-

-

-

-

-

-

-

-

-

-

34,381

Receipts from federal funds purchased and securities sold under agreement to repurchase

-

-

-

-

-

-

-

-

-

-

18,922,995

Repayment of unsecured debt

-

-

-

-

-

-

-

30,000

-

-

-

Issuance of senior debt

-

-

-

97,849

0

-

-

52,681

-

-

-

Redemption of preferred stock

-

-

-

-

-

-

-52,625

-

-

-

-

Repurchase of common stock warrants

-

-

-

-

-

6,300

-

1,800

-

-

-

Purchase of common stock

97,186

31,202

11,752

14,312

31,659

2,686

-

-

-

-

-

Excess tax benefit from stock-based compensation

-

-

-

-

-

-

683

399

776

341

80

Net cash provided by (used for) financing activities

-432,694

121,227

160,561

457,157

254,804

-17,676

98,618

45,088

295,726

8,741

300,186

(Decrease) increase in cash and cash equivalents

-49,005

-103,109

-98,057

260,744

53,140

23,613

-16,461

32,870

91,258

55,010

73,191

Supplemental disclosure of cash flow information:
Interest

74,942

45,636

33,569

22,483

15,978

15,664

15,696

24,099

34,012

42,655

-

Income taxes

33,843

33,316

31,441

24,825

23,404

23,688

21,868

13,806

3,150

10,520

2,593

Non-cash information:
Loans transferred to other real estate owned

2,541

3,302

5,206

2,251

3,725

4,896

7,289

-

-

-

-

Loans transferred to portfolio from held-for-sale at fair value

24,862

9,553

13,142

12,919

-1,499

2,418

9,131

31,987

-

-

-

Net change in accumulated other comprehensive income

-

-

-

-

-

24,794

-34,237

1,741

4,678

8,546

10,591

Loans transferred to assets acquired through foreclosure

-

-

-

-

-

-

-

9,953

18,331

12,732

9,143

Fair value of assets acquired, net of cash received

5,032,156

0

0

534,375

340,238

244,836

12,817

-

-

121,735

0

Fair value of liabilities assumed

5,108,228

0

0

589,632

346,181

236,886

10,127

-

-

177,942

0

Fair value of assets consolidated

-

-

-

-

-

-

41,397

-

-

-

-

Fair value of liabilities consolidated

-

-

-

-

-

-

26,339

-

-

-

-

Reissuance of treasury stock for acquisitions, net

-

-

-

-

71,345

32,908

-

-

-

-

-

Investment securities transferred from available-for-sale to held-to-maturity

-

-

-

-

-

124,873

-

-

-

-

-

Non-cash goodwill adjustments, net

0

0

-1,532

2,112

136

46

-160

-

1,401

-

-

Right of use asset

121,288

-

-

-

-

-

-

-

-

-

-

Lease liability

132,346

-

-

-

-

-

-

-

-

-

-

Settlement of pending sale of premises and equipment

-

-

-

-

-

-

-

-

-

6,515

0