WSFS Financial reports Q2 core EPS $1.08, consensus $1.04

Reports Q2 revenue $266M, consensus $174.91M. Rodger Levenson, Chairman, CEO and President, said, “We are pleased to report second quarter earnings of a core ROA of 1.25% and accompanying core EPS of $1.08. Our results were highlighted by quarterly core fee revenue growth of 13%, driven by strong performance in our Cash Connect, Wealth and Trust, Capital Markets, and Mortgage businesses. Solid annualized loan growth of 6% was driven primarily by our commercial and consumer lending portfolios while deposits increased 3% annualized and the net interest margin of 3.85% also increased slightly from the prior quarter. Our strong performance provides momentum as we head into the second half of 2024.”