Segment Information (Tables)

12 Months Ended

Dec. 31, 2019

The following tables show segment results for the years ended December 31, 2019, 2018, and 2017:


	Year Ended December 31, 2019
(Dollars in thousands)	WSFS Bank		Cash Connect^®		Wealth Management		Total
Statements of Income
External customer revenues:
Interest income	$	510,492	$	—	$	10,600	$	521,092
Noninterest income	92,898		51,143		44,068		188,109
Total external customer revenues	603,390		51,143		54,668		709,201
Inter-segment revenues:
Interest income	12,380		—		17,081		29,461
Noninterest income	9,654		890		902		11,446
Total inter-segment revenues	22,034		890		17,983		40,907
Total revenue	625,424		52,033		72,651		750,108
External customer expenses:
Interest expense	71,158		—		4,986		76,144
Noninterest expenses	348,351		35,377		29,399		413,127
Provision for loan and lease losses	24,884		—		676		25,560
Total external customer expenses	444,393		35,377		35,061		514,831
Inter-segment expenses
Interest expense	17,081		7,808		4,572		29,461
Noninterest expenses	1,792		2,754		6,900		11,446
Total inter-segment expenses	18,873		10,562		11,472		40,907
Total expenses	463,266		45,939		46,533		555,738
Income before taxes	$	162,158	$	6,094	$	26,118	$	194,370
Income tax provision							46,452
Consolidated net income							147,918
Net loss attributable to noncontrolling interest							(891)
Net income attributable to WSFS							$	148,809


	Year Ended December 31, 2018
(Dollars in thousands)	WSFS Bank		Cash Connect^®		Wealth Management		Total
Statements of Income
External customer revenues:
Interest income	$	282,846	$	—	$	10,127	$	292,973
Noninterest income	70,894		50,679		40,968		162,541
Total external customer revenues	353,740		50,679		51,095		455,514
Inter-segment revenues:
Interest income	14,722		—		11,850		26,572
Noninterest income	8,793		774		145		9,712
Total inter-segment revenues	23,515		774		11,995		36,284
Total revenue	377,255		51,453		63,090		491,798
External customer expenses:
Interest expense	43,671		—		2,828		46,499
Noninterest expenses	172,254		32,378		20,415		225,047
Provision for loan and lease losses	12,934		—		236		13,170
Total external customer expenses	228,859		32,378		23,479		284,716
Inter-segment expenses
Interest expense	11,850		10,417		4,305		26,572
Noninterest expenses	919		2,603		6,190		9,712
Total inter-segment expenses	12,769		13,020		10,495		36,284
Total expenses	241,628		45,398		33,974		321,000
Income before taxes	$	135,627	$	6,055	$	29,116	$	170,798
Income tax provision							36,055
Consolidated net income							134,743
Net loss attributable to noncontrolling interest							—
Net income attributable to WSFS							$	134,743


	Year Ended December 31, 2017
(Dollars in thousands)	WSFS Bank		Cash Connect^®		Wealth Management		Total
Statements of Income
External customer revenues:
Interest income	$	245,932	$	—	$	8,794	$	254,726
Noninterest income	45,749		42,641		36,254		124,644
Total external customer revenues	291,681		42,641		45,048		379,370
Inter-segment revenues:
Interest income	9,567		—		9,012		18,579
Noninterest income	7,651		810		146		8,607
Total inter-segment revenues	17,218		810		9,158		27,186
Total revenue	308,899		43,451		54,206		406,556
External customer expenses:
Interest expense	32,249		—		1,206		33,455
Noninterest expenses	158,942		26,654		40,865		226,461
Provision for loan and lease losses	10,527		—		437		10,964
Total external customer expenses	201,718		26,654		42,508		270,880
Inter-segment expenses
Interest expense	9,012		6,812		2,755		18,579
Noninterest expenses	956		2,603		5,048		8,607
Total inter-segment expenses	9,968		9,415		7,803		27,186
Total expenses	211,686		36,069		50,311		298,066
Income before taxes	$	97,213	$	7,382	$	3,895	$	108,490
Income tax provision							58,246
Consolidated net income							50,244
Net loss attributable to noncontrolling interest							—
Net income attributable to WSFS							$	50,244

The following table shows significant components of segment net assets as of December 31, 2019 and 2018: