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SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
SEGMENT INFORMATION
15. SEGMENT INFORMATION
As defined in ASC 280, Segment Reporting (ASC 280), an operating segment is a component of an enterprise that engages in business activities from which it may earn revenues and incur expenses, whose operating results are regularly reviewed by the enterprise’s chief operating decision makers to make decisions about resources to be allocated to the segment and assess its performance, and for which discrete financial information is available. The Company evaluates performance based on pretax net income relative to resources used, and allocate resources based on these results. The accounting policies applicable to the Company's segments are those that apply to its preparation of the accompanying unaudited Consolidated Financial Statements. Based on these criteria, the Company has identified three segments: WSFS Bank, Cash Connect®, and Wealth Management.
The WSFS Bank segment provides financial products to commercial and retail customers. Retail and Commercial Banking, Commercial Real Estate Lending and other banking business units are operating departments of WSFS Bank. These departments share the same regulator, the same market, many of the same customers and provide similar products and services through the general infrastructure of the Bank. Accordingly, these departments are not considered discrete segments and are appropriately aggregated in the WSFS Bank segment.
The Company's Cash Connect® segment provides ATM vault cash, smart safe and other cash logistics services through strategic partnerships with several of the largest networks, manufacturers and service providers in the ATM industry. Cash Connect® services non-bank and WSFS-branded ATMs and retail safes nationwide. The balance sheet category Cash in non-owned ATMs includes cash from which fee income is earned through bailment arrangements with customers of Cash Connect®.
The Wealth Management segment provides a broad array of planning and advisory services, investment management, trust services, and credit and deposit products to individual, corporate, and institutional clients through multiple integrated businesses. WSFS Wealth® Investments provides financial advisory services along with insurance and brokerage products. Cypress, a registered investment adviser, is a fee-only wealth management firm managing a “balanced” investment style portfolio focused on preservation of capital and generating current income. West Capital, a registered investment adviser, is a fee-only wealth management firm operating under a multi-family office philosophy to provide customized solutions to institutions and high-net-worth individuals. The trust division of WSFS, comprised of WSFS Institutional Services® and Christiana Trust DE, provides trustee, agency, bankruptcy administration, custodial and commercial domicile services to institutional and corporate clients. Christiana Trust DE also provides personal trust and fiduciary services to families and individuals across the U.S. Powdermill® is a multi-family office specializing in providing independent solutions to high-net-worth individuals, families and corporate executives through a coordinated, centralized approach. WSFS Wealth Client Management serves high-net-worth clients by delivering credit and deposit products and partnering with other Wealth Management units to provide comprehensive solutions to clients.
The following tables show segment results for the three months ended March 31, 2021 and 2020:
 Three Months Ended March 31, 2021Three Months Ended March 31, 2020
(Dollars in thousands)WSFS Bank
Cash
Connect®
Wealth
Management		TotalWSFS Bank
Cash
Connect®
Wealth
Management		Total
Statements of Income
External customer revenues:
Interest income$119,131 $— $2,150 $121,281 $131,309 $— $2,546 $133,855 
Noninterest income23,348 9,702 14,772 47,822 18,072 11,679 11,096 40,847 
Total external customer revenues142,479 9,702 16,922 169,103 149,381 11,679 13,642 174,702 
Inter-segment revenues:
Interest income844 269 2,695 3,808 1,943 — 2,849 4,792 
Noninterest income3,695 286 401 4,382 2,907 229 173 3,309 
Total inter-segment revenues4,539 555 3,096 8,190 4,850 229 3,022 8,101 
Total revenue147,018 10,257 20,018 177,293 154,231 11,908 16,664 182,803 
External customer expenses:
Interest expense6,904 — 192 7,096 16,747 — 958 17,705 
Noninterest expenses80,544 7,298 7,777 95,619 73,085 8,223 7,188 88,496 
(Recovery of) provision for credit losses(19,593)— (567)(20,160)55,034 — 1,612 56,646 
Total external customer expenses67,855 7,298 7,402 82,555 144,866 8,223 9,758 162,847 
Inter-segment expenses:
Interest expense2,964 180 664 3,808 2,849 954 989 4,792 
Noninterest expenses687 1,087 2,608 4,382 402 741 2,166 3,309 
Total inter-segment expenses3,651 1,267 3,272 8,190 3,251 1,695 3,155 8,101 
Total expenses71,506 8,565 10,674 90,745 148,117 9,918 12,913 170,948 
Income before taxes$75,512 $1,692 $9,344 $86,548 $6,114 $1,990 $3,751 $11,855 
Income tax provision21,407 1,288 
Consolidated net income65,141 10,567 
Net loss attributable to noncontrolling interest59 (360)
Net income attributable to WSFS$65,082 $10,927 
Supplemental Information
Capital expenditures for the period ended$1,270 $— $— $1,270 $2,282 $211 $38 $2,531 
The following table shows significant components of segment net assets as of March 31, 2021 and December 31, 2020:
 March 31, 2021December 31, 2020
(Dollars in thousands)WSFS Bank
Cash
Connect®
Wealth
Management		TotalWSFS Bank
Cash
Connect®
Wealth
Management		Total
Statements of Financial Condition
Cash and cash equivalents$1,627,674 $423,406 $13,081 $2,064,161 $1,246,394 $397,878 $10,463 $1,654,735 
Goodwill452,629 — 20,199 472,828 452,629 — 20,199 472,828 
Other segment assets11,952,186 7,576 233,701 12,193,463 11,963,345 6,997 236,009 12,206,351 
Total segment assets$14,032,489 $430,982 $266,981 $14,730,452 $13,662,368 $404,875 $266,671 $14,333,914