WSFS Company profile
About WSFS Financial Corporation
WSFS Financial Corporation is a savings and loan holding company. The Company operates through its subsidiary, Wilmington Savings Fund Society, FSB (the Bank), which is the bank and trust company. It operates in three segments: WSFS Bank, Cash Connect and Wealth Management. The WSFS Bank segment provides loans and leases and other financial products to commercial and retail customers. Cash Connect segment provides automated teller machine (ATM) vault cash, smart safe and other cash logistics services in the United States through partnerships with a range of the networks, manufacturers and service providers in the cash logistics industry. The Wealth Management segment provides an array of planning and advisory services, investment management, personal and institutional trust services, credit and deposit products to individuals, corporate and institutional clients. Its NewLane Finance originates small business leases and provides commercial financing to businesses nationwide.
Financial summary
BRIEF: For the fiscal year ended 31 December 2021, WSFS Financial Corporation interest income decreased 11% to $456.4M. Net interest income after loan loss provision decreased 7% to $433.6M. Net income before extraordinary items increased from $113.1M to $271.4M. Net interest income after loan loss provision reflects Net Interest Margin, Total -% decrease of 18% to 3.23%, Net Interest Spread, Total -% decrease of 17% to 3.14%.
Equity composition
`Common Stock $.01 Par, 03/11, 20M auth. 18,105,788 issd., less 9,580,569 shs. in Treas @ $248.3M. Insiders & strategic holders own 3.42% . 12/88 perreorganization of Wilmington Savings Fun Society FBS. Basis: 1-for-1. *NOTE: 6/94, 1,380,307 Preferred Stock converted into 6.47M common & all EPS retroactive restated.05/15, 3-for-1 Stock split.
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