WSFS FINANCIAL CORPORATION WSFS Cash Flow

Wsfs financial corporation (WSFS)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Operating activities:
Less: Net loss attributable to noncontrolling interest
-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income attributable to WSFS
10,567	45,424	53,595	35,969	12,930	29,718	38,935	28,740	37,350	-9,832	20,569	20,570	18,937	18,110	12,722	17,478	15,770	13,984	14,426	12,234	12,889	12,708	11,413	12,725	16,911	12,074	14,160	10,908	9,740	7,558	9,979	7,330	6,444	6,162	6,786	5,523	4,206
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses
56,646	1,590	4,121	12,195	7,654	3,306	3,716	2,498	3,650	4,063	2,896	1,843	2,162	5,124	5,828	1,254	780	1,778	1,453	3,773	786	567	333	50	2,630	1,292	1,969	1,680	2,231	3,674	3,751	16,383	8,245	6,948	6,558	8,582	5,908
Depreciation of premises and equipment, net
4,572	4,713	3,936	4,356	2,847	1,982	2,158	2,106	2,083	2,103	2,168	2,096	2,190	1,890	1,888	1,796	1,903	1,683	1,596	1,535	1,519	1,515	1,454	1,466	1,516	1,678	1,575	1,384	1,370	1,336	1,260	1,287	1,256	-	-	-	-
(Accretion) amortization of fees and discounts, net
-13,273	-13,240	-56,387	16,992	7,087	3,303	4,038	4,616	3,298	4,080	4,736	5,524	4,742	5,705	5,682	4,344	3,895	7,269	4,048	4,105	3,068	3,514	2,770	2,358	2,194	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of intangible assets
2,764	2,765	2,690	2,894	2,764	719	741	849	633	726	713	782	857	1,178	245	466	549	589	471	321	466	384	333	201	345	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of right of use lease asset
4,834	3,008	6,860	8,639	4,343	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Decrease in operating lease liability
4,466	2,508	5,594	2,585	1,820	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income from mortgage banking activities, net
3,471	2,963	3,152	2,846	2,092	1,348	1,509	1,692	1,737	1,508	1,756	1,844	1,185	1,409	2,555	1,816	1,654	1,352	1,251	1,590	1,703	928	1,229	1,025	812	1,143	907	1,193	737	964	914	452	516	489	257	231	547
Gain on sale of securities, net
693	255	0	63	15	0	0	0	21	220	736	708	320	479	1,040	545	305	474	76	477	451	58	36	365	578	660	431	906	1,644	3,503	2,451	13,310	2,036	1,925	1,935	603	415
Loss on sale of other real estate owned and valuation adjustments, net
0	-62	0	-59	-4	-17	-13	-66	-4	-30	-56	-92	-39	-83	-68	-86	-76	-	499	-126	-75	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation expense
604	1,614	759	685	550	435	437	474	946	947	885	743	821	793	773	722	758	776	974	981	1,364	898	1,395	1,527	715	1,327	648	769	877	376	122	870	608	594	775	135	306
Unrealized gain on equity investments, net
668	0	21,344	1,033	3,798	2,150	3,249	0	15,346	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income tax (benefit) expense
-3,020	968	4,901	-5,457	6,662	48	1,198	-137	2,269	14,802	289	-382	3,190	6	1,543	528	3,293	-187	582	-553	2,389	-466	524	-398	-5,324	763	-1,672	320	1,344	-	-	-	-	-	-	-	-
Increase in accrued interest receivable
1,040	-677	-2,013	343	941	670	938	424	564	1,616	1,047	30	-315	1,770	115	172	-48	1,346	-502	268	222	1,621	-843	289	-83	965	-474	279	376	-640	194	-1,484	-161	417	57	-212	-284
Amortization, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,002	2,002	3,571	4,138	2,855	2,536	2,732	-1,868	2,996	2,646	2,349
Decrease (increase) in other assets
-10,913	13,258	14,478	-29,857	6,797	9,468	-1,344	-1,297	-530	-4,934	-705	6,318	1,838	7,585	-10,468	-1,094	3,534	1,390	524	-4,546	4,275	620	1,055	-854	634	-11,588	11,296	-9,747	4,569	6,235	-5,246	-4,881	1,401	-1,971	9,209	-1,961	-2,201
Origination of loans held for sale
167,485	154,186	134,595	114,099	76,409	85,434	87,492	101,220	76,962	95,697	77,111	96,018	85,833	114,491	99,884	80,010	72,474	223,119	165,041	102,132	83,411	56,372	68,625	63,213	42,631	71,264	55,993	69,649	53,177	53,663	67,741	39,151	30,406	28,224	22,266	19,632	27,761
Proceeds from sales of loans held for sale
163,415	134,333	117,171	84,251	70,257	94,976	79,029	87,564	90,433	85,189	92,667	86,694	105,436	116,031	70,178	82,852	77,834	214,828	180,363	102,172	66,225	55,114	78,818	46,093	55,883	62,304	68,897	73,132	49,802	79,834	76,698	32,632	33,205	26,289	18,515	18,512	40,817
Excess tax benefit from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	522	-	73	314	164	417	154	29	83	300	89	3	7	189	512	20	55
Increase in accrued interest payable
2,694	-6,378	2,417	733	4,431	-5,220	2,989	681	2,413	-2,845	1,477	-526	1,780	-2,507	1,585	733	539	-959	-119	258	617	-2,438	830	811	732	-2,416	582	798	775	-5,236	1,151	1,367	1,907	-6,623	1,076	2,161	1,979
Increase (decrease) in other liabilities
352	12,984	21,450	434	-3,946	2,342	8,253	-27,325	13,799	6,391	1,966	533	-1,537	5,995	-1,813	7,457	-7,930	4,978	-58	5,416	-3,834	4,378	-1,536	2,367	-3,155	-2,977	-4,137	2,008	-7,359	8,195	429	-2,034	-1,827	1,268	14,066	331	-2,513
Loss on sale of OREO and valuation adjustments, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-45	-11	-665	-393	199	-9	-810	-1,295	-1,001	-595	-	-	-	-
Decrease (increase) in value of bank owned life insurance
-201	-784	958	380	252	-153	1,090	4	-783	231	317	307	275	240	1,028	1,052	231	249	97	227	203	233	185	143	139	108	74	48	40	97	1,126	136	185	240	197	1,419	179
Increase in capitalized interest, net
1,024	692	890	864	944	806	980	728	1,087	976	918	1,018	1,316	1,497	1,146	1,495	1,193	1,430	1,683	1,169	1,236	1,251	1,399	1,368	1,417	1,851	282	267	253	1,206	-183	-460	165	144	70	-27	-44
Loss on sale of assets acquired through foreclosure and valuation adjustments, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,100
Net cash provided by operating activities
62,422	14,831	-17,198	69,718	22,515	28,146	47,593	-2,639	62,474	22,340	47,937	11,726	48,165	24,937	3,399	33,720	18,124	15,996	35,067	29,573	-6,459	15,299	25,006	1,382	26,166	12,644	13,078	30,178	1,481	39,779	15,912	28,731	18,610	12,823	16,951	17,850	28,724
Investing activities:
Purchases of investment securities held to maturity
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	3,329	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of investment securities held to maturity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,335	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments, maturities and calls of investment securities held-to-maturity
3,535	1,040	6,895	4,485	3,750	2,190	3,275	2,745	1,035	55	395	530	250	50	1,030	1,410	400	-	-	-	-	-	-	-	2,230	-	-	-	-	4,000	515	0	4,524	216	175	3,995	7,557
Sale of investment securities available-for-sale
30,641	15,733	35	18,580	583,852	0	0	0	7,000	41,514	63,872	88,599	263,015	45,791	54,441	62,416	38,932	75,553	32,851	48,976	35,553	28,781	59,295	102,818	38,621	34,687	19,052	81,082	139,249	153,728	112,051	419,395	84,808	119,698	93,136	77,009	46,116
Purchases of investment securities available-for-sale
162,826	158,239	180,368	316,835	302,817	218,064	73,734	93,216	113,451	102,703	111,900	106,291	375,687	116,597	95,309	67,721	91,963	68,016	24,484	91,163	94,300	69,298	49,163	86,232	82,222	80,307	41,975	121,934	91,368	190,013	230,225	358,734	162,404	205,861	149,403	193,085	72,789
Repayments of investment securities available-for-sale
83,532	99,051	80,637	52,776	37,233	30,164	32,268	30,244	19,989	23,514	30,043	24,895	119,313	22,402	27,228	20,107	15,463	20,192	25,209	35,685	19,399	24,678	27,151	14,908	12,269	25,672	19,947	23,414	21,008	29,483	28,376	32,977	40,376	45,507	40,305	40,062	49,817
Net increase in loans
59,232	-76,423	-146,157	-72,791	93,437	-18,467	17,663	67,932	34,046	111,903	96,099	28,923	106,933	76,072	66,921	44,569	30,010	93,872	32,076	113,106	36,108	18,794	-25,734	39,511	54,047	85,454	39,443	61,099	21,047	58,245	72,554	-1,053	-33,311	-71,563	-37,788	-118,831	38,481
Proceeds from BOLI surrender/death benefit
-	-	-	-	-	0	0	0	96,429	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash from business combinations
0	0	152,144	-152,390	76,318	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from bank-owned life insurance surrender
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments on reverse mortgages
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,363	2,453	3,743	1,628	4,814	5,475	2,760	-	-	-	-	-	-	-	-	-	-	-	-
Disbursements for reverse mortgages
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	211	194	244	283	264	384	281	351	5	3	32	95	80	-3	17	45	45	308	43
Purchases of stock of Federal Home Loan Bank of Pittsburgh
145,399	217,462	81,216	41,624	54,126	32,414	44,988	42,820	49,391	31,930	27,721	45,448	54,990	30,868	18,709	18,562	20,037	62,290	-3,889	4,177	4,377	38,350	-7,805	4,009	-2,291	1,993	-5,456	7,805	362	994	-3,193	-604	-1,788	-1,882	1,957	22	-1,877
Redemptions of stock of Federal Home Loan Bank of Pittsburgh
132,509	218,994	74,460	38,179	84,138	29,695	58,253	41,869	51,821	33,923	30,276	29,618	73,236	29,330	19,938	11,334	19,845	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sales of other real estate owned
131	1,223	256	156	1,454	714	1,202	-977	2,098	1,672	300	2,398	1,707	354	1,412	1,215	1,442	-450	2,197	1,897	1,184	1,384	585	1,358	1,864	1,829	504	3,814	364	2,227	1,655	2,824	7,310	2,523	1,785	5,050	2,253
Investment in premises and equipment
2,531	3,497	5,191	1,816	3,694	590	1,118	1,525	2,267	392	2,846	2,010	2,480	2,196	3,807	2,636	1,234	3,394	2,084	2,067	817	2,366	982	851	537	915	443	549	956	2,364	1,646	2,168	1,933	2,404	3,204	3,002	1,884
Sales of premises and equipment
42	0	0	0	71	-3	44	157	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used for investing activities
-119,598	33,260	41,664	-113,843	332,742	-165,223	-42,461	-131,455	-20,771	-157,869	-113,301	-35,047	-82,569	-140,187	-28,909	-38,341	-69,156	-72,488	-9,176	-119,971	-74,206	7,426	49,415	-6,353	-77,052	-101,483	-35,063	-82,770	46,856	-93,580	-83,036	120,225	-58,859	-108,958	-54,111	-112,170	-5,577
Financing activities:
Net increase in demand and saving deposits
169,387	14,234	131,398	-85,577	9,706	52,416	386,532	16,965	-62,086	32,737	219,517	-407,162	508,429	51,208	203,890	-18,461	35,907	83,346	114,332	65,293	-103,384	222,626	68,810	23,411	-88,447	109,570	76,848	-72,742	-50,178	292,434	42,651	17,356	41,052	123,302	7,026	231,758	-76,688
(Decrease) increase in time deposits
-84,456	26,383	-107,423	-38,162	63,802	-39,917	22,592	48,151	13,045	71,942	22,014	-35,071	-22,998	5,967	-10,789	-20,522	-26,072	13,153	-38,957	-50,936	-26,970	-27,285	10,014	322	-6,957	-50,051	-10,836	-43,292	-48,934	-88,381	-22,102	-35,933	-956	-8,406	14,859	-24,267	-5,567
Increase (decrease) in brokered deposits
37,215	5,496	-80,864	7,489	-88,517	-89,350	-41,252	74,796	24,094	55,403	-8,340	-94,378	137,797	-5,837	-14,487	-40,957	43,353	-66,852	39,960	-10,004	6,668	-56,209	42,708	-46,910	78,642	-6,872	2,841	-15,908	18,025	-91,644	-24,008	-10,953	9,244	67,049	54,076	2,443	-84,764
Decrease in loan payable
-	-	-	-	-	-	-	-	-	697	17	44	-420	-4	20	21	-407	0	20	20	21	-431	21	19	21	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of reverse mortgage trust bonds payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	21,990	-	-	-	-	-	-	-	-	-	-	-	-
Receipts from FHLB advances
5,037,296	5,174,000	3,805,300	2,786,330	20,554,826	-1,614,452	17,189,597	26,769,655	41,376,732	34,420,628	37,111,338	29,904,950	42,415,835	31,663,410	32,722,950	29,241,991	28,349,212	16,968,187	31,887,604	15,732	14,439,318	10,028,664	11,625,802	30,237,884	26,939,076	19,719,594	18,013,254	-4,584,397	15,642,397	12,682,541	8,973,345	13,975,984	4,349,754	4,199,586	1,939,238	3,407,471	4,500,000
Repayments of FHLB advances
5,030,000	5,427,000	3,555,300	2,751,895	20,802,051	-1,604,452	17,481,470	26,726,479	41,499,571	34,408,439	37,237,177	29,379,394	42,971,976	31,626,341	32,792,550	29,063,050	28,310,900	16,941,700	31,670,321	213,747	14,221,453	10,139,930	11,872,094	30,134,308	26,922,343	19,681,938	17,778,129	-4,494,445	15,563,445	12,699,101	8,973,407	14,111,025	4,360,463	4,229,680	2,004,549	3,262,343	4,500,000
Receipts from federal funds purchased
7,665,475	10,777,775	6,418,050	7,971,375	7,085,575	2,418,575	4,897,350	5,726,500	8,197,250	5,398,000	5,298,000	5,624,000	6,688,000	6,026,000	5,241,750	7,724,100	8,710,770	9,043,775	-7,636,153	23,498,228	6,981,250	6,701,075	6,781,401	6,461,025	5,798,325	5,609,200	-5,893,779	15,711,204	5,865,000	4,892,675	4,725,000	5,645,000	3,765,000	10,246,475	-5,421,475	2,947,129	5,577,871
Repayments of federal funds purchased
7,760,475	10,582,775	6,533,050	7,960,650	7,139,275	2,260,600	4,967,350	5,781,500	8,100,250	5,440,000	5,293,000	5,694,000	6,683,000	5,977,000	5,211,750	7,800,625	8,711,445	9,006,575	-7,314,141	23,174,066	6,995,625	6,672,850	6,767,401	6,500,650	5,769,700	5,626,200	-5,610,289	15,408,714	5,880,000	4,882,675	4,725,000	5,620,000	3,740,000	10,296,475	-5,421,475	2,956,335	5,568,665
Dividends paid
6,160	6,255	6,351	6,406	3,451	3,452	3,499	3,472	2,826	2,825	2,201	2,200	2,199	2,195	1,881	1,773	1,783	1,786	1,393	1,418	1,405	1,431	1,072	1,074	1,067	-19	2,592	1,714	1,711	1,695	1,708	1,707	1,700	1,651	1,691	1,690	1,686
Issuance of common stock and exercise of common stock options
991	415	3,213	3,891	236	1,477	2,714	4,449	2,613	1,104	1,432	-209	1,094	-18	195	1,482	241	472	843	1,347	498	2,237	513	402	461	2,130	1,484	588	151	1,417	1,222	-125	-11	210	76	403	435
Change in noncontrolling interest
-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of unsecured debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	30,000	-	-	-	-
Purchase of common stock
38,739	39,446	40,653	8,034	9,053	22,687	2,454	2,580	3,481	2,541	3,182	3,211	2,818	1,422	1,856	2,039	8,995	3,386	15,621	11,773	879	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefit from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	522	-	73	314	164	417	154	29	83	300	89	3	7	189	512	20	55
Net cash provided by (used for) financing activities
-9,466	-56,638	34,008	-81,862	-328,202	46,462	2,760	126,485	-54,480	126,030	53,418	-86,631	67,744	123,768	135,022	118,486	79,881	88,634	-30,545	118,154	78,561	14,013	-78,309	40,435	6,185	70,820	-13,092	59,502	-18,612	107,588	46,973	-141,400	31,927	100,599	9,547	191,213	-5,633
(Decrease) increase in cash and cash equivalents
-66,642	-8,547	58,474	-125,987	27,055	-90,615	7,892	-7,609	-12,777	-9,499	-11,946	-109,952	33,340	8,518	109,512	113,865	28,849	32,142	-4,654	27,756	-2,104	36,738	-3,888	35,464	-44,701	-18,019	-35,077	6,910	29,725	53,787	-20,151	7,556	-8,322	4,464	-27,613	96,893	17,514
Supplemental disclosure of cash flow information:
Interest
15,011	26,160	18,011	24,640	6,131	18,339	9,330	10,481	7,486	11,676	7,403	8,547	5,943	9,245	4,731	4,356	4,151	4,875	3,979	3,707	3,417	6,538	2,992	3,139	2,995	6,304	3,128	3,028	3,236	10,525	4,470	4,318	4,786	13,792	6,835	6,465	6,920
Income taxes
792	9,264	8,592	12,556	3,431	11,562	4,160	15,327	2,267	10,580	10,509	11,551	-1,199	6,185	6,147	2,939	9,554	6,846	6,087	1,905	8,566	4,013	7,444	7,047	5,184	6,046	6,215	4,191	5,416	5,427	177	3,981	4,221	2,814	19	103	214
Non-cash information:
Loans transferred to other real estate owned
2,350	197	246	1,685	413	1,395	611	-870	2,166	281	2,159	1,029	1,737	796	781	257	417	1,180	93	839	1,613	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loans transferred to portfolio from held-for-sale at fair value
6,399	5,584	4,432	14,502	344	2,292	5,495	3,516	-1,750	360	1,767	4,545	6,470	6,582	2,667	2,160	1,510	-1,603	-67	-40	211	249	0	0	2,169	-	-	-	-	-	-	-	-	-	-	-	-
Net change in accumulated other comprehensive income
-	-	-	-	-	-	-	-	-	-	-	-	830	-	-1,818	4,223	10,758	-	6,012	-6,372	4,101	7,291	-796	9,512	8,787	-5,217	-3,296	-19,878	-5,846	-	-	-	-946	-	-	-	-170
Loans transferred to assets acquired through foreclosure
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,169	1,027	-	952	4,202	2,273	663	685	5,687	2,918	3,940	9,204	1,546	3,641
Fair value of assets acquired, net of cash received
0	-143	-1,068	915	5,032,452	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair value of liabilities assumed
0	-143	-1,560	1,161	5,108,770	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investment securities transferred from available-for-sale to held-to-maturity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,761	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash goodwill adjustments, net
-	-	-	-	-	-	-	-	-	0	0	47	-1,579	3,608	-1,136	-2	-358	0	-200	163	173	0	-89	0	135	-	-	-	-	-	-	-	-	-	-	-	-
Right of use asset
0	0	0	60	121,228	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Lease liability
0	0	0	0	132,346	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-