WSFS Financial Corporation, the savings and loan holding company for the Wilmington Savings Fund Society, FSB, has recently released its 10-Q report. The company operates through WSFS Bank, Cash Connect, and Wealth Management segments, offering various banking services, including deposit products and loans, as well as insurance and investment management services. The company has been in operation for over 193 years and is headquartered in Wilmington, Delaware.
In the three months ended June 30, 2025, WSFS reported an earnings per share (EPS) of $1.27 and a return on assets (ROA) of 1.39%, compared to $1.16 and 1.34% for the same period in 2024. The net interest margin was 3.89%, driven by deposit repricing actions and reduction in wholesale funding. The Wealth and Trust segment recognized noninterest income of $44.5 million, a 17% increase compared to the same period in 2024. WSFS also repurchased 1,556,199 shares of common stock and paid quarterly dividends of $9.6 million, amounting to a total capital return of $87.3 million.
For the six months ended June 30, 2025, the company's Board of Directors approved a 13% increase in the quarterly cash dividend to $0.17 per share of common stock and an incremental share repurchase authorization of 10% of outstanding shares as of March 31, 2025. WSFS repurchased 2,583,413 shares of common stock and paid quarterly dividends of $18.4 million, totaling a capital return of $149.9 million.
As of June 30, 2025, WSFS reported total assets of $20.8 billion, a decrease of $51.0 million compared to December 31, 2024. The company's stockholders’ equity increased by $93.0 million to $2.7 billion during the same period. WSFS Financial Corporation and its subsidiary, Wilmington Savings Fund Society, FSB, were well above well-capitalized across all measures of regulatory capital, with total common equity Tier 1 capital of 13.11% and 14.07%, respectively, and total risk-based capital of 14.35% and 15.86%, respectively.
The company's liquidity and funding sources to support growth and meet liquidity needs include cash from operations, commercial, consumer, wealth and trust deposits, loan repayments, FHLB borrowings, repurchase agreements, access to the Federal Reserve Discount Window, and access to the brokered deposit market.
Following these announcements, the company's shares moved -1.26%, and are now trading at a price of $55.01. Check out the company's full 10-Q submission here.
