WSFS sells $98M Upstart-sourced consumer loan portfolio; expects $4.3M charge-off, $4.8M provision release

WSFS FINANCIAL CORP

Sold $98.1M book of unsecured consumer loans originated through Upstart partnership.
Anticipates net charge-off of ~$4.3M against $9.1M reserves; provision release of ~$4.8M.
Portfolio in runoff since early 2024; sale accelerates exit from non-core consumer lending.
Ongoing impact from sale expected to be immaterial to financial results.
Q2 2025 results not yet finalized; actual charge-offs and provision release may differ.

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