WSFS FINANCIAL CORPORATION WSFS Income Statement

Wsfs financial corporation (WSFS)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09
Interest income:
Interest and fees on loans and leases
463,220	260,506	229,147	194,345	162,519	137,048	129,138	130,526	130,922	126,347	128,248
Interest on mortgage-backed securities
48,954	26,065	19,308	15,754	14,173	13,511	12,834	18,123	26,486	35,212	28,560
Interest and dividends on investment securities:
Taxable
131	61	137	321	241	238	315	-	-	-	-
Tax-exempt
3,884	4,317	4,511	4,551	3,431	3,047	1,377	-	-	-	-
Interest and dividends on investment securities
-	-	-	-	-	-	-	498	683	1,125	1,386
Interest on reverse mortgage loans
-	-	-	-	-	5,129	2,867	1,080	535	-287	-464
Other interest income
4,903	2,024	1,623	1,607	2,212	1,364	391	60	16	6	0
Total interest income
521,092	292,973	254,726	216,578	182,576	160,337	146,922	150,287	158,642	162,403	157,730
Interest expense:
Interest on deposits
60,075	29,068	14,904	9,421	7,165	7,151	7,180	13,101	19,131	23,097	30,389
Interest on Federal Home Loan Bank advances
5,520	8,395	8,263	4,707	3,008	2,427	1,874	6,252	9,972	14,752	18,306
Interest on bonds payable
-	-	-	-	-	15	60	-	-	-	-
Interest on senior debt
4,717	4,717	7,228	6,356	3,766	3,766	3,771	1,296	-	-	-
Interest on federal funds purchased
2,971	1,695	972	606	360	1,051	994	757	1,197	1,514	1,531
Interest on trust preferred borrowings
2,772	2,573	1,940	1,622	1,362	1,321	1,342	1,480	1,375	1,390	1,797
Interest on other borrowings
89	51	148	121	115	99	113	402	930	979	1,063
Total interest expense
76,144	46,499	33,455	22,833	15,776	15,830	15,334	23,288	32,605	41,732	53,086
Net interest income
444,948	246,474	221,271	193,745	166,800	144,507	131,588	126,999	126,037	120,671	104,644
Provision for loan and lease losses
25,560	13,170	10,964	12,986	7,790	3,580	7,172	32,053	27,996	41,883	47,811
Net interest income after provision for credit losses
419,388	233,304	210,307	180,759	159,010	140,927	124,416	94,946	98,041	78,788	56,833
Noninterest income:
Loan and lease fee income
3,577	2,492	2,218	2,066	1,834	1,921	1,959	2,340	2,460	3,042	4,857
Securities gains, net
333	21	1,984	2,369	1,478	1,037	3,516	21,425	4,878	1,031	3,423
Credit/debit card and ATM income
-	-	-	-	25,702	24,129	24,350	22,935	21,026	18,947	16,522
Investment management and fiduciary income
-	-	-	-	21,884	17,364	15,528	13,310	11,881	4,761	3,540
Deposit service charges
-	-	-	-	16,684	17,071	17,208	17,133	16,371	16,239	16,881
Mortgage banking activities, net
-	-	-	-	5,896	3,994	3,980	2,846	1,524	2,256	1,646
Reverse mortgage consolidation gain
-	-	-	-	-	-	3,801	-	-	-	-
Unrealized gains on equity investments, net
26,175	20,745	0	0	-	-	-	-	-	-	-
Realized gain on sale of equity investment
0	3,800	0	0	-	-	-	-	-	-	-
Bank owned life insurance income
1,247	175	1,545	919	776	700	270	1,544	2,035	732	917
Other income
-	-	-	-	16,002	12,062	9,539	5,160	3,413	3,107	2,455
Total non interest income
188,109	162,541	124,644	105,061	90,256	78,278	80,151	86,693	63,588	50,115	50,241
Noninterest expense:
Salaries, benefits and other compensation
182,564	122,983	114,376	95,983	83,908	76,387	70,866	66,047	59,823	49,790	48,133
Occupancy expense
33,068	19,783	19,409	16,646	15,121	14,192	13,486	13,081	12,054	9,748	9,664
Equipment expense
20,879	12,609	12,564	10,368	8,448	7,705	8,322	7,163	6,915	6,422	6,803
Data processing and operations expenses
13,373	7,757	6,779	6,275	5,949	6,105	5,924	5,581	5,340	4,588	4,743
Professional fees
11,167	8,733	8,597	9,142	7,737	6,797	4,016	4,109	5,829	5,460	5,892
Marketing expense
6,714	4,586	3,083	3,020	3,002	2,403	2,428	2,656	4,302	3,193	3,304
FDIC expenses
1,483	2,117	2,216	2,606	2,853	2,653	3,492	5,658	5,949	7,016	7,064
Loan workout and OREO expenses
2,720	1,548	1,820	1,681	1,108	2,542	2,536	6,855	8,896	6,544	5,920
Corporate development expense
55,697	6,456	878	8,529	7,620	4,031	717	-	780	-	-
Restructuring expense
16,133	0	0	-	-	-	-	-	-	-	-
(Recovery of) provision for legal settlement
0	-7,938	12,000	0	0	-	-	-	-	-	-
(Recovery of) provision for fraud loss
463	1,675	-2,844	0	-	-	-	-	-	-	-
Early extinguishment of debt costs
0	0	695	0	651	-	-	3,662	-	-	-
Fraud loss
-	-	-	-	0	-	-	-	-	-	-
Acquisition costs
-	-	-	-	-	-	-	-	-	1,677	0
Other operating expense
69,792	48,088	41,200	34,416	29,063	23,830	19,968	18,533	17,589	14,894	16,981
Total non interest expenses
413,127	225,047	226,461	188,666	165,460	146,645	131,755	133,345	127,477	109,332	108,504
Income before taxes
194,370	170,798	108,490	97,154	83,806	72,560	72,812	48,294	34,152	19,571	-1,430
Income tax provision
46,452	36,055	58,246	33,074	30,273	18,803	25,930	16,983	11,475	5,454	-2,093
Less: Net loss attributable to noncontrolling interest
-891	0	0	-	-	-	-	-	-	-	-
Net Income (Loss) Attributable to Parent, Total
147,918	134,743	50,244	64,080	53,533	53,757	46,882	31,311	22,677	14,117	663
Earnings per share:
Dividends on preferred stock and accretion of discount
-	-	-	-	-	-	1,633	2,770	2,770	2,770	2,590
Net income allocable to common stockholders
-	-	-	-	-	-	45,249	28,541	19,907	11,347	-1,927
Basic (in dollars per share)
3.02	4.27	1.60	2.12	1.88	1.98	1.71	3.28	2.31	1.48	-0.30
Diluted (in dollars per share)
3.00	4.19	1.56	2.06	1.85	1.93	1.69	3.25	2.28	1.46	-0.30
Credit/debit card and ATM income
Noninterest fee income
50,383	43,837	36,116	29,899	-	-	-	-	-	-	-
Investment management and fiduciary income
Noninterest fee income
42,450	39,602	35,103	25,691	-	-	-	-	-	-	-
Deposit service charges
Noninterest fee income
22,972	18,771	18,318	17,734	-	-	-	-	-	-	-
Mortgage banking activities, net
Noninterest fee income
11,053	6,286	6,293	7,434	-	-	-	-	-	-	-
Other income
Noninterest fee income
29,919	26,855	23,067	18,949	-	-	-	-	-	-	-