WSFS Financial Corporation Reports $72.3 Million Net Income for Q2 2025

WSFS Financial Corporation reported its financial results for the second quarter and first half of 2025, revealing a net income of $72.3 million for the three months ended June 30, 2025, compared to $69.3 million for the same period in 2024. Earnings per share increased to $1.27 from $1.16 year-over-year. For the six months ended June 30, 2025, net income rose to $138.2 million, up from $135.0 million in the prior year. The company’s net interest income for the second quarter was $179.5 million, a slight increase from $174.4 million in the previous year, driven by lower wholesale funding costs and deposit costs, despite a decrease in loan yields.

The company experienced a decrease in its provision for credit losses, which fell to $12.6 million in the second quarter from $19.8 million a year earlier, primarily due to the transfer of a significant portion of its unsecured consumer lending portfolio to loans held for sale. Noninterest income decreased to $88.0 million from $91.6 million, largely due to declines in the Cash Connect® segment and capital markets income, although this was partially offset by increases in Wealth and Trust fees. Noninterest expenses rose to $159.3 million, up from $155.8 million, mainly due to higher salaries and benefits and increased loan workout costs.

In terms of operational metrics, WSFS reported a total loan and lease portfolio of $12.6 billion as of June 30, 2025, with a notable decrease in consumer loans attributed to the Upstart portfolio transfer. The company’s total assets decreased slightly to $20.8 billion, while total liabilities also fell to $18.1 billion. The stockholders' equity increased to $2.7 billion, reflecting strong earnings and a reduction in accumulated other comprehensive loss due to market value increases on available-for-sale securities.

Strategically, WSFS has been active in managing its portfolio and capital structure. The company repurchased 1.6 million shares of common stock during the second quarter at an average price of $49.93 per share, totaling approximately $77.7 million. Additionally, the Board of Directors approved a 13% increase in the quarterly cash dividend to $0.17 per share. Looking ahead, WSFS remains focused on maintaining strong capital levels, with total common equity Tier 1 capital at 13.11% and total risk-based capital at 14.35%, both well above regulatory requirements. The company continues to assess its growth strategies and market conditions as it navigates the evolving financial landscape.