WSFS Financial | 10-Q: FY2025 Q3 Revenue: USD 344.89 M

Revenue: As of FY2025 Q3, the actual value is USD 344.89 M.

EPS: As of FY2025 Q3, the actual value is USD 1.37, beating the estimate of USD 1.2525.

EBIT: As of FY2025 Q3, the actual value is USD -83.15 M.

WSFS Bank Segment

• Net Interest Income: $184.0 million for Q3 2025, compared to $177.5 million for Q3 2024. For the nine months ended September 30, 2025, net interest income was $538.7 million, compared to $527.2 million for the same period in 2024.
• Provision for Credit Losses: $6.6 million for Q3 2025, compared to $18.4 million for Q3 2024. For the nine months ended September 30, 2025, the provision was $36.5 million, compared to $53.4 million for the same period in 2024.
• Noninterest Income: $86.5 million for Q3 2025, compared to $90.2 million for Q3 2024. For the nine months ended September 30, 2025, noninterest income was $255.4 million, compared to $257.6 million for the same period in 2024.
• Noninterest Expense: $163.1 million for Q3 2025, compared to $163.7 million for Q3 2024. For the nine months ended September 30, 2025, noninterest expense was $474.2 million, compared to $468.6 million for the same period in 2024.
• Net Income: $76.5 million for Q3 2025, compared to $64.4 million for Q3 2024. For the nine months ended September 30, 2025, net income was $214.6 million, compared to $199.3 million for the same period in 2024.

Cash Connect Segment

• Credit/Debit Card and ATM Income: $18.5 million for Q3 2025, compared to $24.6 million for Q3 2024. For the nine months ended September 30, 2025, income was $55.5 million, compared to $68.2 million for the same period in 2024.

Wealth Management Segment

• Investment Management and Fiduciary Income: $41.3 million for Q3 2025, compared to $36.6 million for Q3 2024. For the nine months ended September 30, 2025, income was $124.3 million, compared to $107.2 million for the same period in 2024.

Future Outlook and Strategy

• Core Business Focus: The company continues to focus on its core banking operations, with strategic emphasis on enhancing net interest income and managing credit losses effectively. The sale of the Upstart portfolio is part of the strategy to optimize the loan portfolio.
• Non-Core Business: The company completed the sale of its unsecured consumer lending portfolio generated through its partnership with Upstart Holdings, Inc., indicating a strategic move to streamline operations and focus on core banking activities.