Segment Information (Tables)

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Details of Segment Information

Segment information for the three months and six months ended June 30, 2014 and 2013 follows:

For the three months ended June 30, 2014:

	WSFS Bank			Cash Connect		Trust & Wealth Management		Total
	(In Thousands)
Statement of Operations
External customer revenues:
Interest income	$	37,480		$	—	$	1,933	$	39,413
Noninterest income		8,778			6,320		4,525		19,623
Total external customer revenues		46,258			6,320		6,458		59,036
Inter-segment revenues:
Interest income		834			—		1,342		2,176
Noninterest income		1,711			204		27		1,942
Total inter-segment revenues		2,545			204		1,369		4,118
Total revenue		48,803			6,524		7,827		63,154
External customer expenses:
Interest expense		3,831			—		105		3,936
Noninterest expenses		28,610			3,882		3,026		35,518
Provision for loan loss		(201	)		—		251		50
Total external customer expenses		32,240			3,882		3,382		39,504
Inter-segment expenses
Interest expense		1,342			328		506		2,176
Noninterest expenses		231			593		1,118		1,942
Total inter-segment expenses		1,573			921		1,624		4,118
Total expenses		33,813			4,803		5,006		43,622
Income before taxes	$	14,990		$	1,721	$	2,821	$	19,532
Provision for income taxes									6,807
Consolidated net income								$	12,725
Capital expenditures	$	815		$	33	$	—	$	848
As of June 30, 2014:
Statement of Condition
Cash and cash equivalents	$	89,284		$	383,072	$	2,833	$	475,189
Other segment assets		3,941,531			2,401		193,969		4,137,901
Total segment assets	$	4,030,815		$	385,473	$	196,802	$	4,613,090

For the three months ended June 30, 2013:

	WSFS Bank		Cash Connect		Trust & Wealth Management		Total
	(In Thousands)
Statement of Operations
External customer revenues:
Interest income	$	33,961	$	—	$	1,921	$	35,882
Noninterest income		9,333		6,025		4,181		19,539
Total external customer revenues		43,294		6,025		6,102		55,421
Inter-segment revenues:
Interest income		914		—		1,368		2,282
Noninterest income		1,701		223		28		1,952
Total inter-segment revenues		2,615		223		1,396		4,234
Total revenue		45,909		6,248		7,498		59,655
External customer expenses:
Interest expense		3,693		—		133		3,826
Noninterest expenses		26,731		3,167		3,254		33,152
Provision for loan loss		1,535		—		145		1,680
Total external customer expenses		31,959		3,167		3,532		38,658
Inter-segment expenses
Interest expense		1,368		405		509		2,282
Noninterest expenses		251		538		1,163		1,952
Total inter-segment expenses		1,619		943		1,672		4,234
Total expenses		33,578		4,110		5,204		42,892
Income before taxes	$	12,331	$	2,138	$	2,294	$	16,763
Provision for income taxes								5,855
Consolidated net income							$	10,908
Capital expenditures	$	272	$	277	$	—	$	549
As of December 31, 2013:
Statement of Condition
Cash and cash equivalents	$	73,017	$	408,096	$	3,313	$	484,426
Other segment assets		3,838,525		1,965		190,847		4,031,337
Total segment assets	$	3,911,542	$	410,061	$	194,160	$	4,515,763

For the six months ended June 30, 2014:

	WSFS Bank		Cash Connect		Trust & Wealth Management		Total
	(In Thousands)
Statement of Operations
External customer revenues:
Interest income	$	73,401	$	—	$	3,797	$	77,198
Noninterest income		17,173		12,334		8,480		37,987
Total external customer revenues		90,574		12,334		12,277		115,185
Inter-segment revenues:
Interest income		1,665		—		2,763		4,428
Noninterest income		3,449		397		53		3,899
Total inter-segment revenues		5,114		397		2,816		8,327
Total revenue		95,688		12,731		15,093		123,512
External customer expenses:
Interest expense		7,461		—		216		7,677
Noninterest expenses		56,222		7,432		6,042		69,696
Provision for loan loss		2,122		—		558		2,680
Total external customer expenses		65,805		7,432		6,816		80,053
Inter-segment expenses
Interest expense		2,763		659		1,006		4,428
Noninterest expenses		450		1,179		2,270		3,899
Total inter-segment expenses		3,213		1,838		3,276		8,327
Total expenses		69,018		9,270		10,092		88,380
Income before taxes	$	26,670	$	3,461	$	5,001	$	35,132
Provision for income taxes								5,496
Consolidated net income							$	29,636
Capital expenditures	$	1,293	$	89	$	3	$	1,385
As of June 30, 2014:
Statement of Condition
Cash and cash equivalents	$	89,284	$	383,072	$	2,833	$	475,189
Other segment assets		3,941,531		2,401		193,969		4,137,901
Total segment assets	$	4,030,815	$	385,473	$	196,802	$	4,613,090

For the six months ended June 30, 2013

	WSFS Bank		Cash Connect		Trust & Wealth Management		Total
	(In Thousands)
Statement of Operations
External customer revenues:
Interest income	$	67,561	$	—	$	3,912	$	71,473
Noninterest income		18,560		11,052		8,001		37,613
Total external customer revenues		86,121		11,052		11,913		109,086
Inter-segment revenues:
Interest income		1,817		—		2,799		4,616
Noninterest income		3,351		423		54		3,828
Total inter-segment revenues		5,168		423		2,853		8,444
Total revenue		91,289		11,475		14,766		117,530
External customer expenses:
Interest expense		7,533		—		304		7,837
Noninterest expenses		53,161		6,159		6,202		65,522
Provision for loan loss		3,781		—		130		3,911
Total external customer expenses		64,475		6,159		6,636		77,270
Inter-segment expenses
Interest expense		2,799		776		1,041		4,616
Noninterest expenses		477		1,088		2,263		3,828
Total inter-segment expenses		3,276		1,864		3,304		8,444
Total expenses		67,751		8,023		9,940		85,714
Income (loss) before taxes	$	23,538	$	3,452	$	4,826	$	31,816
Provision for income taxes								11,168
Consolidated net income							$	20,648
Capital expenditures	$	1,045	$	460	$	—	$	1,505
As of December 31, 2013:
Statement of Condition
Cash and cash equivalents	$	73,017	$	408,096	$	3,313	$	484,426
Other segment assets		3,838,525		1,965		190,847		4,031,337
Total segment assets	$	3,911,542	$	410,061	$	194,160	$	4,515,763