WSFS posts strong earnings in third quarter

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WSFS Financial Corp. reported net income of $20.6 million, compared to net income of $12.7 million during the same period a year ago and net income of $20.6 million in the second quarter of this year.

Net revenue for the quarter was $88.6 million, an increase of $12 million, or 16 percent from the third quarter of 2016.

The increase in net revenue includes balanced growth in both net interest income and noninterest income.

The Board of Directors approved a 29 percent increase in the quarterly cash dividend to $0.09 per share of common stock from the previous $0.07 a share.

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Mark A. Turner, the CEO, said, “Our positive third-quarter results keep us on track to deliver on our Strategic Plan goals.

Turner noted that WSFS received accolades as a top workplace in an annual News Journal report, with similar recognition in its southeastern Pennsylvania.

“These recognitions, along with our financial results evidence the success of our strategy, ‘Engaged associates delivering stellar experiences growing customer advocates and value for our owners’.”

WSFS is based in Wilmington.

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