GOODWILL AND INTANGIBLE ASSETS (Tables)

3 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Allocation of Goodwill to Our Reportable Operating Segments for Purposes of Goodwill Impairment Testing

The following table shows the allocation of goodwill to the reportable operating segments for purposes of goodwill impairment testing: 

(Dollars in thousands)	WSFS Bank		Cash Connect		Wealth Management		Consolidated Company
December 31, 2020	$	452,629	$	—	$	20,199	$	472,828
Goodwill adjustments	—		—		—		—
March 31, 2021	$	452,629	$	—	$	20,199	$	472,828

Summary of Other Intangible Assets

The following table summarizes the Company's intangible assets:

(Dollars in thousands)	Gross Intangible Assets		Accumulated Amortization		Net Intangible Assets		Amortization Period
March 31, 2021
Core deposits	$	93,811	$	(23,148)	$	70,663	10 years
Customer relationships	15,281		(6,919)		8,362		7-15 years
Non-compete agreements	221		(201)		20		5 years
Loan servicing rights(1)	5,511		(2,683)		2,828		10-25 years
Total intangible assets	$	114,824	$	(32,951)	$	81,873
December 31, 2020
Core deposits	$	95,711	$	(22,727)	$	72,984	10 years
Customer relationships	15,281		(6,600)		8,681		7-15 years
Non-compete agreements	221		(190)		31		5 years
Loan servicing rights(2)	5,302		(2,440)		2,862		10-25 years
Total intangible assets	$	116,515	$	(31,957)	$	84,558

(1)Includes reversal of impairment losses of $0.1 million for the three months ended March 31, 2021.

(2)Includes impairment losses of $0.2 million for the year ended December 31, 2020

Schedule of Estimated Amortization Expense of Intangibles

The following table presents the estimated future amortization expense on intangible assets:  

(Dollars in thousands)	March 31, 2021
Remaining in 2021	$	8,477
2022	11,116
2023	10,964
2024	10,787
2025	10,535
Thereafter	29,994
Total	$	81,873