WSFS Financial Corp’s Baa2 Issuer Rating with a Stable Outlook Affirmed by Moody’s, Reflects Strong Capital, Liquidity, Credit, and Diversified Business Model

By: WSFS Financial Corporation via Business Wire

June 07, 2024 at 09:05 AM EDT

Moody’s Investors Service has reaffirmed their ratings to WSFS Financial Corporation (NASDAQ: WSFS) (“WSFS” or “the Company”) with an issuer rating of Baa2 and a Stable Outlook. Long-and short-term deposits of A2/Prime-1, together with a standalone Baseline Credit Assessment of Baa1. Moody’s has also assigned Counterparty Risk Assessment of A3(cr)/Prime-2(cr) and Counterparty Risk Ratings (local and foreign currency) of Baa1/Prime-2. Moody’s debt ratings for WSFS can be accessed here.

“We believe this continued strong and stable rating recognizes our diversified business model that includes disciplined loan concentration limits and sound underwriting. We have maintained strong capital levels, earnings, liquidity, and asset quality,” said WSFS’ Executive Vice President and Interim Chief Financial Officer, Arthur Bacci.

About WSFS Financial Corporation

WSFS Financial Corporation is a multibillion-dollar financial services company. Its primary subsidiary, WSFS Bank, is the oldest and largest locally headquartered bank and trust company in the Greater Philadelphia and Delaware region. As of March 31, 2024, WSFS Financial Corporation had $20.6 billion in assets on its balance sheet and $80.5 billion in assets under management and administration. WSFS operates from 114 offices, 88 of which are banking offices, located in Pennsylvania (57), Delaware (40), New Jersey (14), Florida (1), Nevada (1) and Virginia (1) and provides comprehensive financial services including commercial banking, consumer banking, treasury management and trust and wealth management. Other subsidiaries or divisions include Arrow Land Transfer, Bryn Mawr Capital Management, LLC, Bryn Mawr Trust®, The Bryn Mawr Trust Company of Delaware, Cash Connect®, NewLane Finance®, Powdermill® Financial Solutions, WSFS Institutional Services®, WSFS Mortgage®, and WSFS Wealth® Investments. Serving the Greater Delaware Valley since 1832, WSFS Bank is one of the ten oldest banks in the United States continuously operating under the same name. For more information, please visit www.wsfsbank.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240607929820/en/

Contacts

Investor Relations:

Andrew Basile

(302) 504-9857

abasile@wsfsbank.com

Media:

Kyle Babcock

(215) 864-1795

kbabcock@wsfsbank.com

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WSFS Financial Corp’s Baa2 Issuer Rating with a Stable Outlook Affirmed by Moody’s, Reflects Strong Capital, Liquidity, Credit, and Diversified Business Model

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