WSFS reports Q1 2024 EPS of $1.09, ROA 1.28%, annualized loan growth 7%

WSFS FINANCIAL CORP

2024-Q1 EPS reported $1.09

Net income attributable to WSFS of $65.8M vs. $62.4M in 1Q23; diluted EPS $1.09 vs. $1.01 YoY.
Net interest income $175.3M down from $182.5M YoY; fee revenue $75.9M up from $63.1M YoY.
Provision for credit losses $15.1M vs. $29.0M YoY; noninterest expense $149.1M vs. $133.0M YoY.
Annualized loan growth of 7% for the quarter; pre-provision net revenue $102.1M vs. $112.6M YoY.
Efficiency ratio 59.3% vs. 54.0% YoY; return on average equity 10.7% vs. 11.2% YoY.

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 quarter ended March 31, 2024 results: revenue $251.1 million, net income $65.8 million, EPS $1.09 per diluted share.

Period: quarter ended March 31, 2024
Revenue: $251.1 million
Net income: $65.8 million
EPS: $1.09 per diluted share
Result: reported results

Exact text from the filing

WSFS Financial Corporation (Nasdaq: WSFS), the parent company of WSFS Bank, today announced its financial results for the first quarter of 2024. Selected financial results and metrics are as follows: (Dollars in millions, except per share data) 1Q 2024 4Q 2023 1Q 2023 Net interest income $ 175.3 $ 178.1 $ 182.5 Fee revenue 75.9 87.2 63.1 Total net revenue 251.1 265.3 245.7 Provision for credit losses 15.1 24.8 29.0 Noninterest expense 149.1 147.6 133.0 Net income attributable to WSFS 65.8 63.9 62.4 Pre-provision net revenue (PPNR) (1) 102.1 117.7 112.6 Earnings per share (EPS) (diluted) 1.09 1.05 1.01

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Source: SEC EDGAR

accession 0001628280-24-018158

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