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Segment Information (Tables)
12 Months Ended
Dec. 31, 2017
Segment Reporting [Abstract]  
Details of Segment Information
Segment results of operations for the years ended December 31, 2017, 2016, and 2015 shown in the following table.
 
 
Year Ended December 31, 2017
(Dollars in thousands)
WSFS
Bank
 
Cash
Connect
 
Wealth
Management
 
Total
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 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

Provision for income taxes
 
 
 
 
 
 
58,246

Consolidated net income
 
 
 
 
 
 
$
50,244

 
Year Ended December 31, 2016
(Dollars in thousands)
WSFS Bank
 
Cash
Connect
 
Wealth
Management
 
Total
External customer revenues:
 
 
 
 
 
 
 
Interest income
$
208,525

 
$

 
$
8,053

 
$
216,578

Noninterest income
42,565

 
35,776

(r) 
26,720

 
105,061

Total external customer revenues
251,090

 
35,776

 
34,773

 
321,639

Inter-segment revenues:
 
 
 
 
 
 
 
Interest income
4,963

 

 
7,150

 
12,113

Noninterest income
8,145

 
835

 
118

 
9,098

Total inter-segment revenues
13,108

 
835

 
7,268

 
21,211

Total revenue
264,198

 
36,611

 
42,041

 
342,850

External customer expenses:
 
 
 
 
 
 
 
Interest expense
22,028

 

 
805

 
22,833

Noninterest expenses
146,526

 
22,442

(r) 
19,698

 
188,666

Provision for loan losses
9,370

 

 
3,616

 
12,986

Total external customer expenses
177,924

 
22,442

 
24,119

 
224,485

Inter-segment expenses
 
 
 
 
 
 
 
Interest expense
7,150

 
2,915

 
2,048

 
12,113

Noninterest expenses
953

 
2,799

 
5,346

 
9,098

Total inter-segment expenses
8,103

 
5,714

 
7,394

 
21,211

Total expenses
186,027

 
28,156

 
31,513

 
245,696

Income before taxes
$
78,171

 
$
8,455

 
$
10,528

 
$
97,154

Provision for income taxes
 
 
 
 
 
 
33,074

Consolidated net income
 
 
 
 
 
 
$
64,080

(r) Noninterest income and noninterest expense for the period ended December 31, 2016 have been restated to correct an immaterial error related to revenue earned for cash servicing fees. See Note 1 - Summary of Significant Accounting Policies for further information.

 
Year Ended December 31, 2015
 
WSFS Bank
 
Cash
Connect
 
Wealth
Management
 
Total
(Dollars in thousands)
 
 
 
 
 
 
 
External customer revenues:
 
 
 
 
 
 
 
Interest income
$
174,636

 
$

 
$
7,940

 
$
182,576

Noninterest income
37,042

 
30,421

(r) 
22,793

 
90,256

Total external customer revenues
211,678

 
30,421

 
30,733

 
272,832

Inter-segment revenues:
 
 
 
 
 
 
 
Interest income
3,507

 

 
6,678

 
10,185

Noninterest income
7,988

 
873

 
96

 
8,957

Total inter-segment revenues
11,495

 
873

 
6,774

 
19,142

Total revenue
223,173

 
31,294

 
37,507

 
291,974

External customer expenses:
 
 
 
 
 
 
 
Interest expense
15,155

 

 
621

 
15,776

Noninterest expenses
129,138

 
19,271

(r) 
17,051

 
165,460

Provision for loan losses
7,476

 

 
314

 
7,790

Total external customer expenses
151,769

 
19,271

 
17,986

 
189,026

Inter-segment expenses
 
 
 
 
 
 
 
Interest expense
6,678

 
1,547

 
1,960

 
10,185

Noninterest expenses
969

 
2,612

 
5,376

 
8,957

Total inter-segment expenses
7,647

 
4,159

 
7,336

 
19,142

Total expenses
159,416

 
23,430

 
25,322

 
208,168

Income before taxes
$
63,757

 
$
7,864

 
$
12,185

 
$
83,806

Provision for income taxes
 
 
 
 
 
 
30,273

Consolidated net income
 
 
 
 
 
 
$
53,533


(r) Noninterest income and noninterest expense for the period ended December 31, 2015 have been restated to correct an immaterial error related to revenue earned for cash servicing fees. See Note 1 - Summary of Significant Accounting Policies for further information.

The table below provides asset information and capital expenditures for each of our segments.
 
December 31,
 
2017
 
2016
(Dollars in thousands)
WSFS
Bank
 
Cash
Connect
 
Wealth
Management
 
Total
 
WSFS
Bank
 
Cash
Connect
 
Wealth
Management
 
Total
Cash and cash equivalents
$
104,530

 
$
611,385

 
$
7,951

 
$
723,866

 
$
100,893

 
$
717,643

 
$
3,387

 
$
821,923

Goodwill
145,808

 

 
20,199

 
166,007

 
147,396

 

 
20,143

 
167,539

Other segment assets
5,882,910

 
6,078

 
220,679

 
6,109,667

 
5,545,611

 
3,533

 
226,664

 
5,775,808

Total segment assets
$
6,133,248

 
$
617,463

 
$
248,829

 
$
6,999,540

 
$
5,793,900

 
$
721,176

 
$
250,194

 
$
6,765,270

Capital expenditures
$
8,197

 
$
184

 
$
613

 
$
8,994

 
$
18,625

 
$
769

 
$
26

 
$
19,420