WSFS reports Q2 2026 EPS of $1.66, up 31% YoY; raises full-year ROA guidance to 1.50%+

WSFS Financial disclosed second quarter 2026 financial results through a press release. The 8-K body itself contains no quantitative results; all earnings details are in the attached Exhibit 99.1 press release, which was not provided in this filing excerpt.

WSFS reported Q2 2026 net income of $84.4 million, diluted EPS of $1.63, ROA of 1.52%, and ROE of 12.4%. Core EPS was $1.66 and core ROA was 1.55%, representing a 31% year-over-year increase in core EPS. These results were driven by robust deposit growth, double-digit Wealth and Trust fee growth, and solid loan growth.

WSFS Institutional Services and Bryn Mawr Trust fiduciary assets surpassed $100 billion for the first time, reaching $101.7 billion at June 30, 2026, up $4.1 billion from the prior quarter. Wealth and Trust fees increased 17% year-over-year, with WSFS Institutional Services fees up 34% and BMT of DE (personal trust) up 20%.

WSFS repurchased $66.2 million of common stock (1.8% of outstanding shares) and paid $10.4 million in dividends during Q2 2026, for total capital returns of $76.6 million. For the first half of 2026, share repurchases represented over 4% of outstanding shares as of year-end 2025. The Board approved a quarterly dividend of $0.20 per share payable August 21, 2026.

WSFS reported second quarter 2026 core return on assets of 1.55%, up 17 basis points year-over-year, and core earnings per share of $1.66, up 31% year-over-year. The improvement was driven by 19% core net income growth and 10% core pre-provision net revenue growth compared to the prior year period. Net interest margin was 3.87%, up 4 basis points quarter-over-quarter.

Client deposits grew 3% quarter-over-quarter (12% annualized) and 11% year-over-year, driven by Institutional Services and Commercial segments. Loans grew 1% quarter-over-quarter, representing 5% annualized growth, primarily from residential mortgage (up 13% quarter-over-quarter) and commercial & industrial loans (up 2% quarter-over-quarter). The deposit growth was led by noninterest demand deposits, which increased $638 million quarter-over-quarter.

Wealth and Trust fee revenue grew 5% quarter-over-quarter and 17% year-over-year. The segment's fiduciary assets surpassed $100 billion. Corporate Trust revenue increased 28% year-over-year due to higher custody and paying agent fees as the company gained market share, ranking third most active U.S. ABS & MBS trustee with 14% market share in the first half of 2026.

WSFS returned $170.6 million of capital to shareholders in the first half of 2026, including $151.2 million from share repurchases representing 4.2% of outstanding shares as of December 31, 2025. The company repurchased 1.8% of outstanding shares in the second quarter alone. The capital return represented approximately 100% of first-half 2026 net income, with 18% of outstanding shares remaining in the repurchase authorization.

WSFS updated its full-year 2026 outlook, raising core return on assets guidance to 1.50%+ from the prior 1.40%+/-, maintaining double-digit EPS growth expectations, raising deposit growth to high-single digit from mid-single digit, increasing net interest margin guidance to approximately 3.85% from 3.80%, raising fee revenue growth to high-single digit excluding Cash Connect (from mid-single digit), and lowering net charge-offs guidance to 0.15%-0.25% from 0.25%-0.35%. The updated outlook assumes no Federal Funds rate changes versus the prior assumption of three 25 basis point cuts.