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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating activities:    
Net income $ 12,930 $ 37,350
Net income attributable to WSFS 13,023 37,350
Less: Net loss attributable to noncontrolling interest (93) 0
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 7,654 3,650
Depreciation of premises and equipment, net 2,847 2,083
Amortization of fees and discounts, net 7,087 3,298
Amortization of intangible assets 2,764 633
Amortization of right of use lease asset 4,343  
Accretion of the discounted lease liability (1,820)  
Income from mortgage banking activities, net (2,092) (1,737)
Gain on sale of securities, net (15) (21)
Loss on sale of other real estate owned and valuation adjustments, net 4 4
Stock-based compensation expense 550 946
Unrealized gain on equity investments (3,798) (15,346)
Deferred income tax expense 6,662 2,269
Increase in accrued interest receivable (941) (564)
(Increase) decrease in other assets (6,797) 530
Origination of loans held for sale (76,409) (76,962)
Proceeds from sales of loans held for sale 70,257 90,433
Increase in accrued interest payable 4,431 2,413
(Decrease) increase in other liabilities (3,964) 13,799
(Increase) decrease in value of bank owned life insurance (252) 783
Increase in capitalized interest, net (944) (1,087)
Net cash provided by operating activities 22,590 62,474
Investing activities:    
Repayments, maturities and calls of investment securities held to maturity 3,750 1,035
Sale of investment securities available for sale 583,852 7,012
Purchases of investment securities available for sale (302,817) (113,451)
Repayments of investment securities available for sale 37,233 19,989
Proceeds of bank-owned life insurance death benefit 0 96,429
Net increase in loans (93,437) (34,046)
Net cash for business combinations 76,318 0
Purchases of stock of Federal Home Loan Bank of Pittsburgh (54,126) (49,391)
Redemptions of stock of Federal Home Loan Bank of Pittsburgh 84,138 51,821
Sales of other real estate owned 1,454 2,098
Investment in premises and equipment (3,694) (2,267)
Sales of premises and equipment 71 0
Net cash provided by (used in) investing activities 332,742 (20,771)
Financing activities:    
Net increase (decrease) in demand and saving deposits 9,706 (62,086)
Increase in time deposits 63,802 13,045
(Decrease) increase in brokered deposits (88,517) 24,094
Receipts from FHLB advances 20,554,826 41,376,732
Repayments of FHLB advances (20,802,051) (41,499,571)
Receipts from federal funds purchased and securities sold under agreement to repurchase 7,085,575 8,197,250
Repayments of federal funds purchased and securities sold under agreement to repurchase (7,139,275) (8,100,250)
Dividends paid (3,451) (2,826)
Issuance of common stock and exercise of common stock options 236 2,613
Change in noncontrolling interest (75) 0
Purchase of treasury stock (9,053) (3,481)
Net cash used in financing activities (328,277) (54,480)
Increase (decrease) in cash and cash equivalents 27,055 (12,777)
Cash and cash equivalents at beginning of period 620,757 723,866
Cash and cash equivalents at end of period 647,812 711,089
Supplemental disclosure of cash flow information:    
Interest 6,131 7,486
Income taxes 3,431 2,267
Non-cash information:    
Loans transferred to other real estate owned 413 2,166
Loans transferred to portfolio from held-for-sale at fair value 344 (1,750)
Fair value of assets acquired, net of cash received 5,032,452 0
Fair value of liabilities assumed 5,108,770 0
Right of use asset 121,228 0
Lease liability $ (132,346) $ 0