WSFS FINANCIAL CORPORATION WSFS Income Statement

Wsfs financial corporation (WSFS)

Income statement / TTM

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	Sep'10	Jun'10
Interest income:
Interest and fees on loans and leases
495,305	463,220	409,353	351,717	287,158	260,506	251,960	243,300	234,931	229,147	223,209	214,554	204,464	194,345	191,142	179,730	170,837	162,519	148,448	144,861	141,090	137,048	133,241	131,099	129,888	129,138	128,609	127,904	128,583	130,526	131,408	132,345	132,361	130,922	129,363	128,033	0	0	0
Interest on mortgage-backed securities
51,707	48,954	43,498	37,171	31,132	26,065	23,427	21,720	20,312	19,308	18,228	17,127	16,255	15,754	15,287	15,021	14,634	14,173	13,896	13,625	13,666	13,511	12,988	12,830	12,383	12,834	13,175	14,360	16,134	18,123	20,477	23,185	25,178	26,486	29,661	32,248	0	0	0
Interest and dividends on investment securities:
Taxable
127	131	93	78	63	61	47	47	37	137	216	282	361	321	306	282	257	241	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tax-exempt
3,770	3,884	4,020	4,146	4,239	4,317	4,384	4,444	4,482	4,511	4,520	4,529	4,540	4,551	4,439	4,124	3,775	3,431	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest and dividends on investment securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	1,121	698	510	498	663	639	643	683	612	712	0	0	0
Interest on reverse mortgage loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,204	4,966	5,168	5,129	5,572	4,865	3,821	2,867	2,304	1,723	1,352	1,080	0	0	0	-	-	-	-	-	-
Other interest income
4,461	4,903	4,572	2,577	2,345	2,024	1,917	1,819	1,751	1,623	1,689	1,697	1,738	1,607	1,488	1,464	1,504	2,212	2,126	2,202	2,126	1,364	1,393	1,008	682	391	167	89	76	60	0	0	0	-	-	-	-	0	0
Total interest income
555,370	521,092	461,536	395,689	324,937	292,973	281,735	271,330	261,513	254,726	247,862	238,189	227,358	216,578	208,699	198,219	189,771	182,576	173,103	169,045	165,403	160,337	156,330	152,647	149,116	146,922	145,376	144,774	146,655	150,287	232,713	236,290	158,713	158,642	80,008	81,371	0	0	0
Interest expense:
Interest on deposits
63,770	60,075	53,399	44,525	34,770	29,068	24,211	20,096	17,069	14,904	12,965	11,515	10,378	9,421	8,545	7,720	7,341	7,165	7,312	7,548	7,437	7,151	6,860	6,710	6,817	7,180	7,962	9,526	11,105	13,101	14,907	16,289	17,923	19,131	20,466	21,618	0	0	0
Interest on Federal Home Loan Bank advances
3,760	5,520	5,794	6,792	8,522	8,395	9,302	9,607	8,868	8,263	7,367	6,190	5,517	4,707	4,073	3,716	3,343	3,008	2,909	2,704	2,614	2,427	2,348	2,167	1,957	1,874	2,643	3,564	4,758	6,252	7,091	8,172	9,182	9,972	11,684	13,217	0	0	0
Interest on bonds payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest on senior debt
4,717	4,717	4,717	4,717	4,717	4,717	4,717	5,345	6,286	7,228	8,169	8,481	7,535	6,356	5,177	4,000	3,766	3,766	3,767	3,766	3,766	3,766	3,765	3,767	3,770	3,771	3,183	0	0	-	0	-	-	-	-	-	-	-	-
Interest on federal funds purchased
2,654	2,971	2,628	2,407	2,036	1,695	1,524	1,416	1,217	972	858	698	625	606	0	0	0	-	-	-	0	-	-	-	996	994	731	740	759	757	0	0	0	-	-	-	-	-	-
Interest on trust preferred borrowings
2,632	2,772	2,838	2,822	2,742	2,573	2,393	2,216	2,051	1,940	1,857	1,772	1,697	1,622	1,536	1,464	1,406	1,362	1,342	1,331	1,322	1,321	1,325	1,332	1,339	1,342	1,371	1,401	1,434	1,480	1,474	1,445	1,414	1,375	1,385	1,393	0	0	0
Interest on other borrowings
53	89	107	109	76	51	63	93	140	148	146	141	114	121	-56	32	114	115	-250	-77	104	99	636	372	110	113	356	333	311	402	-618	-156	437	930	2,303	2,455	0	0	0
Total interest expense
77,586	76,144	69,483	61,372	52,863	46,499	42,210	38,773	35,631	33,455	31,362	28,797	25,866	22,833	20,012	17,556	16,432	15,776	15,960	16,152	16,123	15,830	15,516	15,174	15,064	15,334	16,836	18,747	20,606	23,288	25,168	27,458	30,400	32,605	35,838	38,683	0	0	0
Net interest income
477,784	444,948	392,053	334,317	272,074	246,474	239,525	232,557	225,882	221,271	216,500	209,392	201,492	193,745	188,687	180,663	173,339	166,800	157,143	152,893	149,280	144,507	140,814	137,473	134,052	131,588	128,540	126,027	126,049	126,999	127,917	129,204	128,313	126,037	123,798	122,316	0	0	0
Provision for credit losses
74,552	25,560	27,276	26,871	17,174	13,170	13,927	13,107	12,452	10,964	12,025	14,957	14,368	12,986	9,640	5,265	7,784	7,790	6,579	5,459	1,736	3,580	4,305	5,941	7,571	7,172	9,554	11,336	26,039	32,053	35,327	38,134	30,333	27,996	31,024	35,060	0	0	0
Net interest income after provision for credit losses
403,232	419,388	364,777	307,446	254,900	233,304	225,598	219,450	213,430	210,307	204,475	194,435	187,124	180,759	179,047	175,398	165,555	159,010	150,564	147,434	147,544	140,927	136,509	131,532	126,481	124,416	118,986	114,691	100,010	94,946	92,590	91,070	97,980	98,041	92,774	87,256	0	0	0
Noninterest income:
Loan and lease fee income
3,811	3,577	2,991	2,861	2,778	2,492	2,342	0	0	-	0	-	2,138	2,066	1,996	1,859	1,848	1,834	1,852	1,913	2,000	1,921	1,964	1,917	1,848	1,959	1,938	2,225	2,225	2,340	2,392	2,296	2,385	2,460	2,497	2,596	0	0	0
Securities gains, net
1,011	333	78	78	15	21	241	977	1,685	1,984	2,243	2,547	2,384	2,369	2,364	1,400	1,332	1,478	1,062	1,022	910	1,037	1,639	1,909	2,450	3,516	6,484	8,629	21,033	21,425	19,722	19,206	6,499	4,878	4,709	3,042	0	0	0
Reverse mortgage consolidation gain
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Unrealized gains on equity investments, net
23,045	26,175	28,325	10,230	9,197	20,745	18,595	15,346	15,346	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Realized gain on sale of equity investment
-	-	0	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Bank owned life insurance income
1,005	1,247	724	543	160	175	750	1,200	1,502	1,545	1,345	1,054	963	919	929	836	804	776	777	800	764	700	575	464	369	270	259	1,311	1,399	1,544	1,687	758	2,041	2,035	1,976	1,998	0	0	0
Total non interest income
187,834	188,109	184,525	164,080	156,196	162,541	156,790	147,330	144,019	124,644	120,509	115,654	109,485	105,061	101,799	95,878	92,829	90,256	85,205	83,844	81,009	78,278	78,087	80,525	80,441	80,151	81,550	78,556	88,009	86,693	114,552	111,728	66,707	63,588	28,959	24,471	0	0	0
Noninterest expense:
Salaries, benefits and other compensation
191,705	182,564	165,214	146,941	129,335	122,983	119,583	118,114	115,393	114,376	111,025	106,657	101,943	95,983	92,958	88,938	85,774	83,908	82,092	80,600	78,923	76,387	74,214	72,570	71,357	70,866	69,293	68,587	67,795	66,047	65,097	63,492	61,242	59,823	56,803	53,577	0	0	0
Occupancy expense
34,367	33,068	29,092	24,704	20,902	19,783	19,760	19,819	19,495	19,409	18,688	18,267	17,538	16,646	16,409	15,831	15,513	15,121	14,710	14,409	14,341	14,192	14,071	14,000	13,832	13,486	13,553	13,403	13,416	13,081	12,807	12,743	12,264	12,054	11,346	10,446	0	0	0
Equipment expense
21,854	20,879	18,083	15,777	13,509	12,609	12,543	12,207	12,529	12,564	12,270	12,001	11,019	10,368	9,990	9,396	8,839	8,448	8,195	8,199	8,100	7,705	7,942	7,923	8,180	8,322	7,750	7,407	7,325	7,163	7,123	7,088	6,968	6,915	6,843	6,823	0	0	0
Data processing and operations expenses
13,863	13,373	12,172	10,273	8,438	7,757	7,359	7,214	7,068	6,779	6,896	6,579	6,351	6,275	6,062	6,132	6,069	5,949	5,945	5,984	6,056	6,105	6,244	6,183	6,046	5,924	5,682	5,536	5,608	5,581	5,504	5,427	5,245	5,340	5,122	4,956	0	0	0
Professional fees
13,895	11,167	10,297	9,475	8,880	8,733	8,448	8,338	8,687	8,597	8,803	8,109	8,374	9,142	9,364	9,849	8,668	7,737	6,978	6,701	7,163	6,797	6,580	5,491	4,175	4,016	3,711	3,709	3,892	4,109	4,772	5,368	5,870	5,829	5,583	5,756	0	0	0
Marketing expense
6,075	6,714	6,155	6,281	5,418	4,586	4,156	3,369	3,217	3,083	3,111	3,111	2,980	3,020	2,969	2,876	3,082	3,002	3,029	3,053	2,488	2,403	2,244	2,244	2,410	2,428	2,448	2,184	2,394	2,656	2,832	4,050	4,130	4,302	4,149	3,456	0	0	0
FDIC expenses
809	1,483	1,920	2,665	2,138	2,117	2,165	2,207	2,286	2,216	2,209	2,118	2,297	2,606	2,791	3,108	3,022	2,853	2,784	2,664	2,669	2,653	2,436	2,729	2,979	3,492	4,463	4,888	5,387	5,658	5,733	5,785	5,622	5,949	6,307	6,633	0	0	0
Loan workout and OREO expenses
3,286	2,720	2,287	1,694	1,230	1,548	1,404	1,907	1,725	1,820	2,126	2,153	1,699	1,681	1,672	1,327	1,612	1,108	1,118	1,616	2,002	2,542	3,023	2,851	2,905	2,536	3,385	5,008	6,189	6,855	7,809	7,558	7,249	8,896	6,897	7,905	0	0	0
Early extinguishment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Corporate development expense
30,411	55,697	53,295	46,572	33,083	6,456	4,272	631	540	878	2,383	8,115	8,298	8,529	12,486	7,456	7,593	7,620	3,136	4,901	4,373	4,031	3,225	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Restructuring expense
11,771	16,133	14,603	6,243	4,362	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Recovery of) provision for legal settlement
-	-	0	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Early extinguishment of debt costs
-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Recovery of fraud loss
-	-	0	0	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	923	923	0	0	0
Nonroutine ATM Loss
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Other operating expense
76,458	69,792	63,233	56,567	49,880	48,088	46,841	45,791	43,553	41,200	39,140	37,307	35,876	34,416	33,552	30,811	29,521	29,063	26,659	26,977	25,559	23,830	21,385	20,221	20,414	19,968	21,377	20,477	19,058	18,533	17,508	17,933	18,043	17,589	17,061	15,886	0	0	0
Total non interest expenses
404,031	413,127	376,351	319,244	269,227	225,047	231,762	233,471	228,367	226,461	207,346	204,417	196,375	188,666	188,904	176,375	170,344	165,460	154,646	155,104	151,674	146,645	141,695	135,341	133,269	131,755	135,517	134,861	134,726	133,345	129,185	129,444	127,079	127,477	116,543	111,870	0	0	0
Income before taxes
187,035	194,370	172,951	152,282	141,869	170,798	150,626	133,309	129,082	108,490	117,638	105,672	100,234	97,154	91,942	94,901	88,040	83,806	81,123	76,174	76,879	72,560	72,901	76,716	73,653	72,812	65,019	58,386	53,293	48,294	45,899	41,296	37,608	34,152	37,248	31,915	0	0	0
Income tax provision
41,480	46,452	40,739	34,730	31,546	36,055	55,433	56,482	60,425	58,246	39,452	35,333	32,987	33,074	31,988	33,243	31,626	30,273	28,866	26,930	27,144	18,803	19,778	20,846	19,600	25,930	22,653	20,201	18,686	16,983	15,984	14,574	12,693	11,475	12,511	10,663	0	0	0
Less: Net loss attributable to noncontrolling interest
-1,158	-891	-611	-324	-93	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income (Loss) Attributable to Parent, Total
145,915	147,918	0	117,645	110,323	134,743	95,193	76,827	0	50,244	78,186	70,339	67,247	64,080	59,954	61,658	56,414	53,533	52,257	49,244	49,735	53,757	53,123	55,870	54,053	46,882	42,366	38,185	34,607	31,311	29,915	26,722	24,915	22,677	24,737	21,252	0	0	0
Earnings per share:
Dividends on preferred stock and accretion of discount
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,633	2,326	2,687	2,770	2,770	2,770	2,769	2,770	2,770	2,769	2,769	0	0	0
Net income allocable to common stockholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	45,249	40,040	35,498	31,837	28,541	27,145	23,953	22,145	19,907	21,968	18,483	0	0	0
Basic (in dollars per share)
0.21	0.98	1.02	0.68	0.34	0.95	1.22	0.91	1.19	-0.30	0.65	0.65	0.60	0.58	0.42	0.59	0.53	0.47	0.52	0.43	0.46	-0.82	0.42	0.48	1.90	-2.06	1.57	1.17	1.03	0.79	1.07	0.76	0.66	0.63	0.71	0.56	0.41	0.95	0.37
Diluted (in dollars per share)
0.21	0.97	1.02	0.68	0.33	0.94	1.20	0.89	1.16	-0.31	0.64	0.64	0.59	0.55	0.41	0.58	0.52	0.46	0.51	0.43	0.45	-0.79	0.41	0.46	1.85	-2.03	1.54	1.16	1.02	0.77	1.06	0.76	0.66	0.63	0.70	0.55	0.40	0.94	0.36
Weighted average shares of common stock outstanding:
Weighted average basic shares (in shares)
51,086	-	-	-	38,874	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Weighted average fully diluted shares (in shares)
51,164	-	-	-	39,284	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Credit/debit card and ATM income
Noninterest fee income
50,227	50,383	50,391	48,515	45,547	43,837	0	39,574	37,790	36,116	34,375	32,801	31,129	29,899	28,657	27,367	26,576	25,702	25,109	24,842	24,390	24,129	24,114	24,269	24,448	24,350	24,135	23,499	23,181	22,935	22,508	22,293	21,708	21,026	20,533	19,827	0	0	0
Investment management and fiduciary income
Noninterest fee income
43,265	42,450	41,128	40,698	40,560	39,602	0	37,662	36,253	35,103	33,764	31,029	28,476	25,691	23,321	22,620	22,045	21,884	21,084	20,043	18,623	17,364	16,358	15,862	15,634	15,528	15,217	14,639	14,007	13,310	12,715	12,444	12,085	11,881	9,898	7,999	0	0	0
Deposit service charges
Noninterest fee income
23,873	22,972	21,795	20,326	18,887	18,771	0	18,655	18,551	18,318	18,286	18,073	17,855	17,734	17,442	17,298	17,055	16,684	16,321	16,460	16,707	17,071	17,663	17,593	17,463	17,208	17,097	17,050	17,133	17,133	17,069	17,094	16,821	16,371	16,128	16,092	0	0	0
Mortgage banking activities, net
Noninterest fee income
12,432	11,053	9,438	7,795	6,641	6,286	0	6,693	6,845	6,293	6,194	6,993	6,965	7,434	7,377	6,073	5,847	5,896	5,472	5,450	4,885	3,994	4,209	3,887	4,055	3,980	3,801	3,808	3,067	2,846	2,371	1,714	1,493	1,524	1,681	1,671	0	0	0
Loan fee income
Revenue from Contract with Customer, Including Assessed Tax
-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other income
Noninterest fee income
29,165	29,919	29,655	29,277	28,654	26,855	0	24,839	23,779	23,067	22,252	21,048	19,575	18,949	19,713	18,425	17,322	16,002	13,528	13,314	12,730	12,062	11,565	10,823	10,373	9,539	8,818	7,395	5,964	5,160	4,030	3,865	3,675	3,413	3,595	3,304	0	0	0