WSFS Q1 2023 EPS $1.01, net income $62.4M, provision for credit losses rises to $29.0M

WSFS FINANCIAL CORP

2023-Q1 EPS reported $1.01 revenue$289,510,000

Diluted EPS $1.01, net income $62.4M, ROA 1.27% for Q1 2023.
Total net revenue $245.7M vs $258.8M in Q4 2022; net interest income $182.5M.
Provision for credit losses $29.0M, up from $13.4M in Q4 2022 and $19.0M in Q1 2022.
Noninterest expense $133.0M relatively flat; efficiency ratio 54.0%.
Core results exclude $0.6M Visa derivative valuation adjustment.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

WSFS FINANCIAL CORP reported the quarter ended March 31, 2023 results: revenue 245.7, net income 62.4, EPS 1.01.

Period: the quarter ended March 31, 2023
Revenue: 245.7
Net income: 62.4
EPS: 1.01
Result: reported results

Exact text from the filing

Net interest income $ 182.5 $ 193.9 $ 138.6 Fee revenue 63.1 64.9 60.6 Total net revenue 245.7 258.8 199.1 Provision for credit losses 29.0 13.4 19.0 Noninterest expense 133.0 132.9 174.5 Net income attributable to WSFS 62.4 84.4 3.8 Pre-provision net revenue (PPNR) (1) 112.6 125.9 24.7 Earnings per share (EPS) (diluted) 1.01 1.37 0.06

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Source: SEC EDGAR

accession 0001628280-23-012582

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