PARENT COMPANY FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2023


	Year Ended December 31,
(Dollars in thousands)	2023		2022		2021
Income:
Interest income	$	817	$	374	$	357
Realized gain (loss) on sale of equity investment	9,493		—		(706)
Unrealized gains on equity investments, net	2,489		5,379		5,389
Other noninterest income	98,067		251,382		4,759
	110,866		257,135		9,799
Expense:
Interest expense	16,610		11,763		7,771
Other operating expense	6,965		11,489		7,508
	23,575		23,252		15,279
Income (loss) before equity in undistributed income of subsidiaries	87,291		233,883		(5,480)
Equity in undistributed income (loss) of subsidiaries	182,396		(12,672)		276,208
Income before taxes	269,687		221,211		270,728
Income tax expense (benefit)	531		(1,164)		(714)
Net income attributable to WSFS	$	269,156	$	222,375	$	271,442


	December 31,
(Dollars in thousands)	2023		2022
Assets:
Cash and cash equivalents	$	197,270	$	205,841
Investment in subsidiaries	2,585,151		2,320,474
Investment in Trusts(1)	2,785		2,785
Other assets	5,869		16,944
Total assets	$	2,791,075	$	2,546,044
Liabilities:
Trust preferred borrowings	$	90,638	$	90,442
Senior and subordinated debt	218,400		248,169
Accrued interest payable	949		1,168
Other liabilities	3,452		1,152
Total liabilities	313,439		340,931
Stockholders’ equity:
Common stock	761		759
Capital in excess of par value	1,984,746		1,974,210
Accumulated other comprehensive loss	(593,991)		(675,844)
Retained earnings	1,643,657		1,411,243
Treasury stock	(557,537)		(505,255)
Total stockholders’ equity of WSFS	2,477,636		2,205,113
Total liabilities and stockholders’ equity of WSFS	$	2,791,075	$	2,546,044

(1)Includes WSFS Capital Trust III, Royal Bancshares Capital Trust I, and Royal Bancshares Capital Trust II.


	Year Ended December 31,
(Dollars in thousands)	2023		2022		2021
Operating activities:
Net income attributable to WSFS	$	269,156	$	222,375	$	271,442
Adjustments to reconcile net income to net cash provided by (used for) operating activities:
Equity in undistributed (income) loss of subsidiaries	(182,396)		12,672		(276,208)
Realized (gain) loss on sale of equity investments	(9,493)		—		706
Unrealized gains on equity investments	(2,489)		(5,379)		(5,389)
Decrease in other assets	31,254		2,569		10,910
Increase (decrease) in other liabilities	3,488		812		(6,690)
Net cash provided by (used for) operating activities	$	109,520	$	233,049	$	(5,229)
Investing activities:



Net cash for business combinations	$	—	$	101,734	$	—

Net cash provided by investing activities	$	—	$	101,734	$	—
Financing activities:

Issuance of common stock and exercise of common stock options	$	3,298	$	3,179	$	1,522

Redemption of senior and subordinated debt	(30,000)		—		(100,000)
Purchase of treasury stock	(54,647)		(200,083)		(13,268)
Dividends paid	(36,742)		(35,746)		(24,242)
Net cash used for financing activities	$	(118,091)	$	(232,650)	$	(135,988)
Decrease (increase) in cash and cash equivalents	$	(8,571)	$	102,133	$	(141,217)
Cash and cash equivalents at beginning of period	205,841		103,708		244,925
Cash and cash equivalents at end of period	$	197,270	$	205,841	$	103,708