WSFS · WSFS Financial Corporation Q2 FY2026 earnings call record财报电话会记录

“Actual results may differ materially from historical results or those indicated by these forward-looking statements due to risks and uncertainties, including, but not limited to, the risk factors in an annual report on Form 10-K and our most recent quarterly reports on Form 10-Q, as well as other documents we may periodically file with the Securities and Exchange Commission.”

“On a year-over-year basis, core net income increased 19% and core PPNR increased 10%, resulting in core earnings per share growth of 31% and tangible book value per share growth of 13%.”

“Core results for the quarter exclude a $1.8 million decrease to net income and a $0.03 reduction to EPS, primarily related to the write-down of an equity investment, as well as the previously disclosed gain from the sale of our credit card portfolio.”

“Net interest margin expanded four basis points linked quarter to 3.87%, driven by a four basis point reduction in our client deposit costs, as well as higher investment securities and yields.”

“For the first half of 2026, WSFS was ranked as the third most active ABS and MBS trustee based on deal count, increasing our market share to 14% from 11.7% in 2025.”

“Cash Connect fees declined year-over-year due to the impact of interest rate cuts and lower volumes, but the business delivered a higher profit margin of 15% for the second quarter in a row.”

“During the quarter, we continued to execute on our capital return framework, returning $77 million of capital, including $66 million of buybacks.”

“We raised our outlook for fee revenue, excluding Cash Connect, from mid to high single digits as we continue to see strong momentum and future growth opportunities in our fee businesses, and particularly Wealth and Trusts, where we continue to capture market share within Institutional Services and BMC of Delaware.”

“We're definitely seeing more deposit competition in the market, and that may impact both NIB growth as well as pricing going forward.”

“I think the challenge on the banking side, as we look at our footprint and our region, we feel like there's a lot of opportunity here.”

“Is that helping you on deposits, and is the deposit gathering that you are seeing that success kind of a function of just really being focused in on the best customers who have funding?”

“In terms of your 3.85% net interest margin guidance, are you contemplating any further growth in non-interest-bearing deposits?”