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WSFS Financial reports Q2 EPS $1.27, consensus $1.12

Reports Q2 revenue $267.5M, consensus $221.93M. Net interest income increased $4.3 million, or 2% compared to 1Q 2025, driven by deposit repricing actions, higher cash balances from growth in noninterest deposits, and continued wholesale funding optimization, partially offset by the reduction of interest income associated with the Upstart sale. Net interest margin of 3.89%, an increase of 1bp compared to 1Q 2025 and 4bps from 2Q 2024.Capital ratios remain strong and are all substantially in excess of the “well-capitalized” regulatory benchmarks at June 30, 2025, with a Common Equity Tier 1 capital ratio and Tier 1 capital ratio of 14.07%, Tier 1 leverage ratio of 11.04%, and Total Risk-based capital ratio of 15.86%. At June 30, 2025, book value per share was $47.71, an increase of $1.40, or 3%, from March 31, 2025, and tangible book value per share was $30.32, an increase of $1.07, or 4%, from March 31, 2025. Rodger Levenson, Chairman, CEO and President, said, “WSFS performed very well in the second quarter with a core EPS of $1.27 and a core ROA of 1.38%. These results were driven by continued strong performance in our fee-based businesses, with 9% quarter-over-quarter growth in core fee revenue driven by our Wealth and Trust, WSFS Mortgage, Capital Markets, and Banking businesses. The net interest margin of 3.89% improved 1bp from the previous quarter and Client deposits grew 6% compared to 1Q 2025, primarily from the Trust business. We also had solid growth in C&I loan fundings along with our WSFS-originated Consumer Lending portfolio. Our performance provides momentum as we enter the second half of the year, as reflected in our updated FY 2025 outlook.”

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