EX-99.7 DISTR CONTR 2 ex99-7.htm

Exhibit 7

 

WSFS FINANCIAL CORPORATION

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

 

   September 30,
2017
   December 31,
2016
 
(Dollars in thousands, except per share and share data)  (Unaudited) 
Assets:          
Cash and due from banks  $117,343   $119,929 
Cash in non-owned ATMs   612,443    698,454 
Interest-bearing deposits in other banks including collateral of $3,380 at September 30, 2017 and December 31, 2016   3,579    3,540 
    Total cash and cash equivalents   733,365    821,923 
Investment securities, available for sale (amortized cost of $816,114 at September 30, 2017 and $807,761 at December 31, 2016)   810,433    794,543 
Investment securities, held to maturity-at cost (fair value of $163,397 at September 30, 2017 and $163,232 at December 31, 2016)   161,721    164,346 
Loans, held for sale at fair value   19,313    54,782 
Loans, net of allowance for loan losses of $40,201 at September 30, 2017 and $39,751 at December 31, 2016   4,670,216    4,444,375 
Bank owned life insurance   102,727    101,425 
Stock in Federal Home Loan Bank of Pittsburgh-at cost   33,277    38,248 
Other real estate owned   3,924    3,591 
Accrued interest receivable   17,789    17,027 
Premises and equipment   48,345    48,871 
Goodwill   166,007    167,539 
Intangible assets   23,109    23,708 
Other assets   85,118    84,892 
Total assets  $6,875,344   $6,765,270 
Liabilities and Stockholders’ Equity          
Liabilities:          
Deposits:          
Noninterest-bearing demand  $1,357,597   $1,266,306 
Interest-bearing demand   1,057,571    935,333 
Money market   1,347,576    1,257,520 
Savings   557,914    547,293 
Time   305,347    332,624 
Jumbo certificates of deposit - customer   251,782    260,560 
    Total customer deposits   4,877,787    4,599,636 
Brokered deposits   173,932    138,802 
    Total deposits   5,051,719    4,738,438 
Federal funds purchased and securities sold under agreements to repurchase   70,000    130,000 
Federal Home Loan Bank advances   697,812    854,236 
Trust preferred borrowings   67,011    67,011 
Senior debt   98,116    152,050 
Other borrowed funds   70,369    64,150 
Accrued interest payable   3,882    1,151 
Other liabilities   75,574    70,898 
Total liabilities   6,134,483    6,077,934 
Stockholders’ Equity:          
Common stock $0.01 par value, 65,000,000 shares authorized; issued 56,217,643 at September 30, 2017 and 55,995,219 at December 31, 2016   562    580 
Capital in excess of par value   334,221    329,457 
Accumulated other comprehensive loss   (3,123)   (7,617)
Retained earnings   680,554    627,078 
Treasury stock at cost, 24,807,145 shares at September 30, 2017 and 24,605,145 shares at December 31, 2016   (271,353)   (262,162)
Total stockholders’ equity   740,861    687,336 
Total liabilities and stockholders’ equity  $6,875,344   $6,765,270