Key Highlights

  • Diluted earnings per share were USD 1.75, up 28% from a year earlier.
  • Wealth and Trust fees rose 30% from a year earlier.
  • Net interest Margin was 3.88% and Return on Assets was 1.58%.
  • Capital returned totaled USD 69.8 million, including USD 59.6 million of repurchases.

Earnings Summary

The Wilmington, Delaware bank Holding Company (NASDAQ:WSFS) reported third-quarter 2026 results on Thursday. Net Income attributable to the company was USD 89.3 million, or USD 1.75 per diluted share, against USD 84.4 million, or USD 1.63, in the second quarter and USD 76.4 million, or USD 1.37, a year earlier. Core earnings per share, a non-GAAP measure, were also USD 1.75, up 5% from the second quarter and 25% from the third quarter of 2025.

Return on average assets was 1.58% against 1.52% and 1.44%, and return on average Equity was 13.0% against 12.4% and 11.3%. Pre-provision net Revenue was USD 126.0 million against USD 116.2 million and USD 107.4 million.

Revenue and Expenses

Net interest income was USD 196.6 million against USD 192.5 million in the second quarter and USD 184.0 million a year earlier. The net interest margin was 3.88%, up 1 basis point from the second quarter. Fee revenue was USD 91.0 million, or 31.6% of total net revenue of USD 287.6 million.

Noninterest expense fell to USD 161.6 million from USD 166.3 million in the second quarter. The core efficiency ratio was 56.1%, an improvement of 223 basis points from the second quarter and 345 basis points from a year earlier. The provision for Credit losses was USD 8.4 million against USD 5.0 million.

Wealth and Trust fees grew 30% year over year, which Chairman, Chief Executive Officer and President Rodger Levenson described as consistent double-digit growth. Institutional Services fees rose 45%, The Bryn Mawr Trust Company of Delaware, the personal trust business, rose 22%, and Private Wealth Management rose 14%.

Loans and Deposits

Gross loans and leases were USD 13,663 million, up USD 162.6 million, or 1% not annualized, from June 30 and up 5% from a year earlier. Excluding the sale of the credit card portfolio and runoff of Spring EQ, loans were up 7% year over year, with residential Mortgage up 27%, home equity up 20% and commercial and industrial up 9%. Commercial and industrial loans were USD 5,014 million. The allowance for credit losses was USD 185 million, or about 1.35% of gross loans.

Total client deposits were USD 18,384 million, down USD 619.5 million, or 3%, from June 30, which the company tied to an outflow of transactional deposits in the Institutional Services and Commercial businesses at the end of the prior quarter. Noninterest Demand deposits were USD 6,058 million, or 33% of the total, against USD 7,009 million, or 37%, in June. Client deposits were up USD 1.2 billion, or 7%, from a year earlier, and core deposits were up 9%. The Loan to deposit ratio was 73%, and no and low cost accounts were 58% of average deposits at a weighted cost of 31 basis points.

Capital Return

The company repurchased USD 59.6 million of common stock, or 1.5% of shares outstanding, and paid USD 10.2 million of dividends, for a total Capital return of USD 69.8 million. Repurchases in the first three quarters of 2026 equal 5.6% of shares outstanding at Dec. 31, 2025.

Figures to Follow

Earnings per share rose 28% while net income rose 17%, a difference that reflects the lower share count from repurchases. Fee revenue of USD 91.0 million was 31.6% of revenue, down slightly from 31.9% a year earlier even as Wealth and Trust fees grew 30%. Reference points include deposit balances after a 3% quarterly decline, the margin at 3.88%, the core efficiency ratio at 56.1% and the provision of USD 8.4 million.