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WSFS FINANCIAL CORP

For the period ended Dec 31, 2023. Filed Feb 29, 2024.

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About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 29, 2024

WSFS$79.89+1.2%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

Consolidated Statements of Financial Condition

December 31,
(Dollars in thousands, except per share and share data)20232022
Assets:
Cash and due from banks$629,310$332,961
Cash in non-owned ATMs458,889499,017
Interest-bearing deposits in other banks including collateral (restricted cash) of $4,270 at December 31, 2023 and $4,650 at December 31, 20224,7015,280
Total cash, cash equivalents, and restricted cash1,092,900837,258
Investment securities, available for sale (amortized cost of $4,504,342 at December 31, 2023 and $4,834,550 at December 31, 2022)3,846,5374,093,060
Investment securities, held to maturity, net of allowance for credit losses of $8 at December 31, 2023 and $10 at December 31, 2022 (fair value $985,931 at December 31, 2023 and $1,040,104 at December 31, 2022)1,058,5571,111,619
Other investments17,43426,120
Loans held for sale at fair value29,26842,985
Loans and leases, net of allowance of $186,126 at December 31, 2023 and $151,861 at December 31, 202212,583,20211,759,992
Bank-owned life insurance42,762101,935
Stock in Federal Home Loan Bank of Pittsburgh, at cost15,39824,116
Other real estate owned1,569833
Accrued interest receivable85,97974,448
Premises and equipment104,484115,603
Goodwill885,898883,637
Intangible assets118,662128,595
Other assets712,022714,554
Total assets$20,594,672$19,914,755
Liabilities and Stockholders’ Equity
Liabilities:
Deposits:
Noninterest-bearing$4,917,297$5,739,647
Interest-bearing demand11,556,78910,463,922
Total deposits16,474,08616,203,569
Federal Home Loan Bank advances—350,000
Trust preferred borrowings90,63890,442
Senior and subordinated debt218,400248,169
Other borrowed funds586,03838,283
Accrued interest payable46,6845,174
Other liabilities709,011777,232
Total liabilities18,124,85717,712,869
Stockholders’ Equity:
Common stock 0.01 par value, shares authorized of 90,000,000; shares issued of 76,095,094 at December 31, 2023 and 75,921,997 at December 31, 2022761759
Capital in excess of par value1,984,7461,974,210
Accumulated other comprehensive loss(593,991)(675,844)
Retained earnings1,643,6571,411,243
Treasury stock at cost, 15,557,263 shares at December 31, 2023 and 14,310,085 shares at December 31, 2022(557,537)(505,255)
Total stockholders’ equity of WSFS2,477,6362,205,113
Noncontrolling interest(7,821)(3,227)
Total stockholders’ equity2,469,8152,201,886
Total liabilities and stockholders’ equity$20,594,672$19,914,755
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.