Wsfs Financial (WF4) Q3 2026 Earnings Report
DE:WF4 Q3 2026 EPS Results
- Actual EPS
- EUR 1.57
- Consensus EPS
- EUR 1.46
- Beat/Miss
- Beat by +EUR 0.12
- One Year Ago EPS
- EUR 1.26
DE:WF4 Q3 2026 Revenue Results
- Actual Revenue
- EUR 319.01M
- Expected Revenue
- EUR 260.53M
- Beat/Miss
- Beat by +EUR 58.49M
- YoY Revenue Growth
- +3.47%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/22/2026
- Time
- After Close
- Conference Call
- Thursday, October 22, 2026
Wsfs Financial's next earnings date is estimated for January 28, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was predominantly constructive, with strong earnings growth, improved profitability, solid loan and trust-related fee growth, low charge-offs, and meaningful capital returns. Offsetting factors included rising deposit pricing pressure, a higher expected deposit beta, slower consumer lending growth, sequentially higher problem assets, a specific student-housing reserve, and a reduced pace of buybacks. Management remained confident in the franchise and outlook while acknowledging that growth and margin trends could moderate in selected areas.
Management expects to exit 2026 with an up cycle beta of 35% across the September rate increase and another rate increase in December, with normalized beta about 45% to 50% through this increase cycle; loan and deposit growth are expected to be mid-single digits, with deposits generally tracking loans, while mortgage growth is expected at a slower rate. The securities portfolio is expected to remain in the low 20s percent of assets, with 4 to 5 basis points a year of NIM pickup from the securities portfolio, and each 25 basis point increase is expected to produce a 2 to 3 basis point increase in net interest margin, with maybe 2 basis points a good way to think about it. The capital target remains 12% over the medium term, buybacks would likely stay at a reduced pace for the coming quarter, Walton Trust’s goal is double digits, efficiency is expected to gradually decline in a moderate way, and net charge-offs are expected to come in a bit better than guidance.
- Strong Quarterly Profitability and Earnings GrowthThird-quarter core EPS was $1.75, core ROA was 1.58%, and core return on tangible common equity was 20.7%, all above the prior-quarter levels. Year-over-year, core PPNR increased 15%, core net income increased 14%, and core EPS increased 25%.
- Net Interest Margin ExpandedNet interest margin increased 1 basis point linked quarter to 3.88%, reflecting the benefit of loan growth and higher investment securities yields, partially offset by higher client deposit costs. September exit NIM was 3.89%, and management expects approximately 2 to 3 basis points of NIM expansion for every 25 basis point rate increase, with approximately 2 basis points viewed as a more appropriate expectation given deposit competition.
- Walton Trust Delivered Broad-Based Double-Digit GrowthWalton Trust revenue increased 30% year-over-year and represented approximately 60% of total fee revenue. The business has delivered double-digit year-over-year growth for 8 consecutive quarters. Corporate Trust, Global Capital Markets, The Bryn Mawr Trust Company of Delaware, and Private Wealth all reported double-digit growth.
- Institutional Services Continued to Gain ShareWithin WSFS Institutional Services, Corporate Trust increased 45% year-over-year and Global Capital Markets increased 48%, reflecting new mandates and market-share gains. Fee growth in the business increased approximately 5% quarter-over-quarter, while deal activity increased approximately 4%.
- Personal Trust and Private Wealth GrowthThe Bryn Mawr Trust Company of Delaware grew 22% year-over-year, driven by continued new-account growth, while Private Wealth increased 14% year-over-year, driven by higher assets under management.
- Loan Growth Remained SolidGross loans grew 1% linked quarter, or 5% annualized. Excluding the continued runoff of the Spring EQ portfolio, loans grew 2% linked quarter and 7% year-over-year.
- Commercial and Consumer Lending MomentumCommercial and industrial loans grew 1% linked quarter and 9% year-over-year, supported by a solid pipeline and healthy client activity. Residential mortgage and home equity loans increased 6% linked quarter and 24% year-over-year, and Home Lending delivered another strong origination quarter.
- Average Deposit Growth and Strong Noninterest-Bearing MixAlthough period-end client deposits declined 3% linked quarter, average deposits increased slightly. Average core deposits grew 10% year-over-year, average noninterest-bearing deposits grew 20%, and noninterest-bearing deposits represented 35% of total average deposits.
- Expense Discipline Improved EfficiencyCore noninterest expenses decreased 3% linked quarter and were generally flat year-over-year. The efficiency ratio improved to 56.1%, down from slightly above 60%, while the company continued investing in the franchise.
- Stable Credit Metrics and Low Charge-OffsMost credit metrics remained stable, and the company recorded a net recovery for the second time this year. Year-to-date net charge-offs totaled 3 basis points of average gross loans, while delinquencies decreased 3% linked quarter and 11% year-over-year to their lowest level in 2 years.
- Credit Outlook Expected to Be Better Than Prior GuidanceManagement said it expected to come in somewhat better than its net charge-off guidance and reported no major risks over the next few months that would be expected to cause a significant deviation from the prior outlook.
- Capital Returned to ShareholdersThe company returned $70 million of capital to shareholders during the quarter, including $60 million through share repurchases. Year-to-date, WSFS repurchased 5.6% of its outstanding shares and returned more than 90% of net income to shareholders.
- Securities Portfolio Reinvestment Supported YieldsAfter reducing the securities portfolio to the low 20s percent of assets, WSFS began reinvesting principal and interest proceeds into new securities at higher yields. The securities portfolio yield was approximately 2.80%, and management estimated the portfolio could contribute approximately 4 to 5 basis points of annual NIM pickup.
- Diversified Walton Trust Business Supports GrowthApproximately 70% of Walton Trust is not AUM-based and approximately 30% is AUM-based, with activity supported by capital markets and securitization, personal trust and tax-related activity, and market-driven AUM activity. Management's goal is sustained double-digit growth, supported by market trends and continued share gains.
- CRE Review Has Not Identified Material Broad-Based StressManagement said its process of reviewing all maturing CRE loans over the next 24 months and resizing them at a 7.5% coupon had not identified a material impact. The student-housing-related loan that became nonperforming was described as a one-off situation in a small portfolio with unique circumstances.
DE:WF4 Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Jan 28, 2027 | 2026 (Q4) | 1.52- | 1.29 | ― | ― |
| Oct 22, 2026 | 2026 (Q3) | 1.461.57 | 1.26 | 25.00% (+0.31) | |
| Jul 23, 2026 | 2026 (Q2) | 1.351.49 | 1.14 | 30.71% (+0.35) | |
| Apr 23, 2026 | 2026 (Q1) | 1.351.51 | 1.02 | 48.67% (+0.49) | |
| Jan 26, 2026 | 2025 (Q4) | 1.111.29 | 1 | 28.83% (+0.29) | |
| Oct 23, 2025 | 2025 (Q3) | 1.131.26 | 0.97 | 29.63% (+0.29) | |
| Jul 24, 2025 | 2025 (Q2) | 1.021.14 | 0.97 | 17.59% (+0.17) | |
| Apr 24, 2025 | 2025 (Q1) | 0.941.02 | 1 | 1.80% (+0.02) | |
| Jan 27, 2025 | 2024 (Q4) | 0.881.00 | 1.03 | -3.48% (-0.04) | |
| Oct 24, 2024 | 2024 (Q3) | 0.950.97 | 1.11 | -12.20% (-0.13) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
