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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Interest income:    
Interest and fees on loans and leases $ 87,117 $ 60,465
Interest on mortgage-backed securities 10,466 5,399
Interest and dividends on investment securities:    
Taxable 19 17
Tax-exempt 1,025 1,103
Other interest income 950 629
Total interest income 99,577 67,613
Interest expense:    
Interest on deposits 10,942 5,240
Interest on Federal Home Loan Bank advances 2,590 2,463
Interest on senior debt 1,179 1,179
Interest on federal funds purchased 787 446
Interest on trust preferred borrowings 726 557
Interest on other borrowings 39 14
Total interest expense 16,263 9,899
Net interest income 83,314 57,714
Provision for loan losses 7,654 3,650
Net interest income after provision for loan losses 75,660 54,064
Noninterest income:    
Loan fee income 885 599
Securities gains, net 15 21
Unrealized gains on equity investments 3,798  
Equity securities unrealized gain   15,346
Bank owned life insurance income 217 232
Total non interest income 41,122 47,467
Noninterest expense:    
Salaries, benefits and other compensation 36,205 29,853
Occupancy expense 6,367 5,248
Equipment expense 3,989 3,089
Data processing and operations expenses 2,588 1,907
Professional fees 1,872 1,725
Marketing expense 1,590 758
FDIC expenses 620 599
Loan workout and OREO expenses 108 426
Corporate development expense 26,627 0
Restructuring expense 4,362 0
(Recovery of) provision for fraud loss 0 (1,665)
Other operating expense 13,264 11,472
Total non interest expenses 97,592 53,412
Income before taxes 19,190 48,119
Income tax provision 6,260 10,769
Net income 12,930 37,350
Less: Net loss attributable to noncontrolling interest (93) 0
Net income attributable to WSFS $ 13,023 $ 37,350
Earnings per share:    
Basic (in dollars per share) $ 0.34 $ 1.19
Diluted (in dollars per share) $ 0.33 $ 1.16
Credit/debit card and ATM income    
Noninterest income:    
Noninterest fee income $ 11,515 $ 9,805
Investment management and fiduciary income    
Noninterest income:    
Noninterest fee income 10,147 9,189
Deposit service charges    
Noninterest income:    
Noninterest fee income 4,746 4,630
Mortgage banking activities, net    
Noninterest income:    
Noninterest fee income 2,092 1,737
Other income    
Noninterest income:    
Noninterest fee income $ 7,707 $ 5,908