WSFS Financial (WSFS) 8-K Regulation FD Disclosure

WSFS Financial Corporation

3Q 2016 Investor Update

November 2, 2016

Exhibit 99.1

Stockholders or others seeking information regarding the Company may call or write:

WSFS Financial Corporation

Investor Relations

WSFS Bank Center

500 Delaware Avenue

Wilmington, DE  19801

302-571-7264

stockholderrelations@wsfsbank.com

www.wsfsbank.com

Mark A. Turner

President and CEO

302-571-7160

mturner@wsfsbank.com

Rodger Levenson

Chief Corporate Development Officer

302-571-7296

rlevenson@wsfsbank.com

2

Dominic Canuso

Chief Financial Officer

302-571-6833

dcanuso@wsfsbank.com

Forward-Looking Statements

This presentation contains estimates, predictions, opinions, projections and other “forward-looking statements” as that phrase is defined in the Private Securities

Litigation Reform Act of 1995.  Such statements include, without limitation, references to the Company’s predictions or expectations of future business or financial

performance

as

well

as

its

goals

and

objectives

for

future

operations,

financial

and

business

trends,

business

prospects,

and

management’s

outlook

or

expectations

for

earnings,

revenues,

expenses,

capital

levels,

liquidity

levels,

asset

quality

or

other

future

financial

or

business

performance,

strategies

or

expectations.

Forward-looking

statements are typically identified by words such as "believe," "expect," "anticipate," "intend," "target," "estimate," "continue," "positions," "prospects" or "potential,"

by

future

conditional

verbs

such

as

"will,"

"would,"

"should,"

"could"

or

"may",

or

by

variations

of

such

words

or

by

similar

expressions.

Such

forward-looking

statements are based on various assumptions (some of which may be beyond the Company’s control) and are subject to risks and uncertainties (which change over

time) and other factors which could cause actual results to differ materially from those currently anticipated.  Such risks and uncertainties include, but are not limited

to, those related to difficult market conditions and unfavorable economic trends in the United States generally, and particularly in the market areas in which the

Company operates and in which its loans are concentrated, including the effects of declines in housing markets, an increase in unemployment levels and slowdowns in

economic

growth;

the

Company’s

level

of

nonperforming

assets

and

the

costs

associated

with

resolving

any

problem

loans

including

litigation

and

other

costs;

changes

in market interest rates may increase funding costs and reduce earning asset yields thus reducing margin; the impact of changes in interest rates and the credit quality

and strength of underlying collateral and the effect of such changes on the market value of the Company’s investment securities portfolio; the credit risk associated

with

the

substantial

amount

of

commercial

real

estate,

construction

and

land

development,

and

commercial

and

industrial

loans

in

our

loan

portfolio;

the

extensive

federal

and

state

regulation,

supervision

and

examination

governing

almost

every

aspect

of

the

Company’s

operations

including

the

changes

in

regulations

affecting

financial institutions, including the Dodd-Frank Wall Street Reform and Consumer Protection Act and the rules and regulations being issued in accordance with this

statute and potential expenses associated with complying with such regulations; possible additional loan losses and impairment of the collectability of loans; the

Company’s ability to comply with applicable capital and liquidity requirements (including the finalized Basel III capital standards), including our ability to generate

liquidity internally or raise capital on favorable terms;  possible changes in trade, monetary and fiscal policies, laws and regulations and other activities of governments,

agencies, and similar organizations; any impairment of the Company’s goodwill or other intangible assets; failure of the financial and operational controls of the

Company’s Cash Connect division; conditions in the financial markets that may limit the Company’s access to additional funding to meet its liquidity needs; the success

of the Company’s growth plans, including the successful integration of past and future acquisitions; the Company’s ability to complete the pending merger with Penn

Liberty on the terms and conditions proposed which are subject to a number of conditions, risks and uncertainties, delay in closing the merger, difficulties and delays in

integrating the Penn Liberty business or fully realizing cost savings and other benefits of the merger, business disruption following the merger, Penn Liberty’s customer

acceptance of the Company’s products and services and related customer disintermediation; negative perceptions or publicity with respect to the Company’s trust and

wealth

management

business;

system

failure

or

cybersecurity

breaches

of

the

Company’s

network

security;

the

Company’s

ability

to

recruit

and

retain

key

employees;

the

effects

of

problems

encountered

by

other

financial

institutions

that

adversely

affect

the

Company

or

the

banking

industry

generally;

the

effects

of

weather

and

natural disasters such as floods, droughts, wind, tornadoes and hurricanes as well as effects from geopolitical instability and man-made disasters including terrorist

attacks; possible changes in the speed of loan prepayments by the Company’s customers and loan origination or sales volumes; possible acceleration of prepayments

of mortgage-backed securities due to low interest rates, and the related acceleration of premium amortization on prepayments on mortgage-backed securities due to

low interest rates; regulatory limits on the Company’s ability to receive dividends from its subsidiaries and pay dividends to its shareholders; the effects of any

reputational, credit, interest rate, market, operational, legal, liquidity, regulatory and compliance risk resulting from developments related to any of the risks discussed

above;

and

the

costs

associated

with

resolving

any

problem

loans,

litigation

and

other

risks

and

uncertainties,

discussed

in

the

Company’s

Form

10-K

for

the

year

ended

December 31, 2015 and other documents filed by the Company with the Securities and Exchange Commission from time to time.  Forward looking statements are as of

the date they are made, and the Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time

by or on behalf of the Company.

Non-GAAP

Information

This presentation contains financial information and performance measures determined by methods other than in accordance with

accounting

principles generally accepted in the United States (“GAAP”).  The Company’s management uses these non-GAAP measures to measure the

Company’s performance and believes that these non-GAAP measures provide a greater understanding of ongoing operations, enhance

comparability of results of operations with prior periods and show the effects of significant gains and charges in the periods presented.  The

Company’s management believes that investors may use these non-GAAP measures to analyze the Company’s financial performance without the

impact of unusual items or events that may obscure trends in the Company’s underlying performance.  These disclosures should not

be viewed as a

substitute for financial measures determined in accordance with GAAP.  For a reconciliation of these non-GAAP to their comparable GAAP

measures, see Appendix 3.  The following are the non-GAAP measures used in this presentation:

Core ROA

is a non-GAAP

measure that divides (i) net income determined in accordance with GAAP

and excluding the impact of

securities gains (losses), corporate development expenses, debt extinguishment costs, and other extraordinary items by (ii) average

assets

Core and Sustainable ROA

is a non-GAAP

measure that divides (i) net income determined in accordance with GAAP

and adjusting it by

taking core net income and normalizing for long-term credit costs, non-recurring accretion from purchased credit impaired loans

(“PCI”), and a normal tax rate by (ii) average assets

Tangible common equity is a non-GAAP measure and is defined as total average stockholders’ equity less goodwill, other intangible

assets and preferred stock.

Return on average tangible common equity is a non-GAAP measure and is defined as net income allocable to common stockholders

divided by tangible common equity.

Core net interest income is a non-GAAP

measure that adjusts net interest income as determined in accordance with GAAP

to exclude

the impact of extraordinary items such as special dividends

Core noninterest income, also called core fee income, is a non-GAAP measure that adjusts noninterest income as determined in

accordance with GAAP to exclude the impact of securities gains (losses)

Core noninterest expense is a non-GAAP

measure that adjusts noninterest expense as determined in accordance with GAAP

to exclude

corporate development expenses and debt extinguishment costs

Core efficiency ratio is a non-GAAP measure that is determined by dividing core noninterest expense by the sum of core interest

income and core noninterest income

Core net revenue is a non-GAAP measure core net interest income plus core noninterest Income

Core EPS is a non-GAAP measure that divides (i) net income determined in accordance with GAAP and excluding the impact of

securities gains (losses), corporate development expenses, debt extinguishment costs, and other extraordinary items by (ii) weighted

average shares of common stock outstanding

4

3Q 2016 Highlights

3Q 2016 Highlights

Results:

Reported

Core

(1)

•

EPS:

$0.41

$0.51

•

ROA:

0.82%

1.03%                      

•

ROTCE:

9.69%

12.16%

Completed Acquisitions Consistent with Strategic Plan

•

Penn Liberty acquisition successfully closed and converted over the weekend of August 12,

2016.  WSFS currently has 28 offices in southeastern Pennsylvania

•

Closed acquisitions of Powdermill Financial Solutions, an ultra-high net worth multi-family

office, on August 1, 2016 and West Capital Management, a fee-only wealth management firm,

on October 14, 2016 (Q4). Fee (non-interest) income to total revenue stood at 35.0% in 3Q

2016

Strong Revenue Growth

•

Core

(1)

net revenue increased $12.2 million, or 20% over 3Q 2015, reflecting strong organic and

acquisition growth

•

Core

(1)

net interest income improved $8.0 million, or 20% over 3Q 2015;  Net interest

margin (NIM) was 3.84% in 3Q 2016, a 5 basis point improvement from 3Q 2015, reflecting

the benefits of our recent acquisitions, partially offset by the $100 million in senior notes

issued in 2Q 2016

•

Core

(1)

fee (noninterest) income increased $4.2 million, or 20% over 3Q 2015

6

(1)

Core results are non-GAAP financial measures and should be considered in addition to results prepared in accordance with GAAP, and not a substitute for, or superior to GAAP results. 

See Appendix 3 for reconciliation to GAAP financial information. 

3Q 2016 Highlights

Continued Positive Operating Leverage

•

20% core

(1)

net revenue growth vs. 18% core

(1)

noninterest expense growth from 3Q 2015;

= 2% points in positive operating leverage in 3Q 2016 vs 3Q 2015

•

Core

(1)

efficiency ratio improved to 59.0% in 3Q 2016 from 60.0% in 3Q 2015

Loan and Deposit Growth Continues

•

Net loans increased $574.4 million from 2Q 2016.  This growth included $473.1 million of

loans acquired from Penn Liberty and organic loan growth of $101.3 million, or 11%

annualized, spread across nearly all loan categories

•

Total customer deposits increased by $756.0 million, or 20% not annualized, from 2Q 2016,

which included $574.8 million of deposits acquired from Penn Liberty. Excluding these

deposits, organic customer deposit growth was $181.2 million, or 19% annualized, from June

30, 2016 including $81.6 million in public funding accounts which is seasonal. The remaining

organic growth of $99.6 million, or 10% annualized, was mainly low-cost relationship

checking or money market accounts

7

(1)  Core results are non-GAAP financial measures and should be considered in addition to results prepared in accordance with GAAP, and not a substitute for, or superior to GAAP results. 

See Appendix 3 for reconciliation to GAAP financial information. 

3Q 2016 Highlights

Credit Costs Include the Impact of the Divestiture and Related Charge-Off of One Problem Loan

•

Exited a $15.4 million substandard local C&I loan relationship, resulting in a $4.2 million charge-off

and $3.0 million in incremental loan loss provision.  This was a longstanding credit, the bank’s

largest problem loan and had been reported as delinquent one quarter in each of the past 3 years

•

Loan loss provision was $5.8 million.  Adjusting for the one problem loan, loan loss provision was $2.8

million.  Non-provision credit costs were $0.5 million for the quarter

Asset Quality Metrics (Additional details on page 27)

•

Delinquencies (including nonperforming delinquencies) remained very low, increasing from 0.64%

to 0.78% of total gross loans. Adjusting for a large delinquent loan that paid off in early October,

delinquencies would have slightly decreased in 3Q 2016 to 0.62%

•

Criticized ratio of 29.0%; Classified ratio of 17.9%

•

Total NPAs were $40.6 million (0.61% of total assets), a $9.0 million or 7bp, increase from June 30,

2016, primarily as a result of 3 relatively small commercial loans

•

Net charge offs, including the $4.2 million charge-off mentioned above, were a $4.6 million or 44bps. 

Excluding this loan relationship, net charge offs were very low at $0.4 million

4Q 2016 Credit Cost Outlook

•

We

reaffirm

our

guidance

of

$2.0

-

$2.5

million

in

total

credit

costs

(provision

for

loan

losses,

loan

workout expenses, OREO expenses and other credit reserves) in 4Q 2016

8

9

2016-2018 Strategic Plan Goals

10

Core & Sustainable

ROA

(1)

2016 Outlook & Actual YTD Results

(1)

Core and Sustainable ROA is a non-GAAP measure that divides (i) net income determined in accordance with GAAP  and adjusting it by taking core net income and normalizing for

long-term credit costs, non-recurring accretion from purchased credit impaired loans (“PCI”), and a normal tax rate by (ii) average assets.  See Appendix 3 for GAAP reconciliation.

GAAP ROA

0.73%

1.07%

1.17%

1.05%

1.05%

0.77%

0.91%

0.95%

1.13%

1.14%

1.17%

0.60%

0.70%

0.80%

0.90%

1.00%

1.10%

1.20%

FY12

Core &

Sustainable

FY13

Core &

Sustainable

FY14

Core &

Sustainable

FY15

Core &

Sustainable

YTD

9/30/16

Core & Sustainable

FY16

Outlook

4Q 2016 Outlook

11

•

Linked quarter low to mid single digit organic loan and deposit growth

•

Net interest margin of 3.80% -

3.85%

•

$100 million in senior notes issued in 2Q 2016, partially offset by the

benefits of our recent acquisitions

•

Total fee income growth versus 4Q 2015:

•

Approximately 22%:  14% organic / 8% acquisition

•

Key drivers –

Wealth (including Powdermill & West acquisitions), Cash

Connect & Mortgage

•

Between $2 million and $2.5 million in total credit costs (but can be uneven)

•

Efficiency ratio around 60% (excluding corporate development costs)

•

Tax rate to remain flat at approximately 36%

Core & Sustainable

ROA Trend Line

12

4Q tends to be the strongest on revenue and expenses;  1Q tends to be the weakest

3Q 2015 ROA of 1.16% grew to 1.24% in 4Q 2015

4Q16 Plan

1.25% ROA

1.17%

(1)

Core and Sustainable ROA is a non-GAAP measure that divides (i) net income determined in accordance with GAAP  and adjusting it by taking core net income and normalizing for

long-term credit costs, non-recurring accretion from purchased credit impaired loans (“PCI”), and a normal tax rate by (ii) average assets.  See Appendix 3 for a GAAP reconciliation.

0.65

0.70

0.75

0.80

0.85

0.90

0.95

1.00

1.05

1.10

1.15

1.20

1.25

1.30

1

2016 –

2018 Strategic Plan Themes

13

•

Strong organic growth driven by favorable market demographics and

competitive disruption

•

Selected acquisitions with a focus on increasing fee-based revenue

•

Fee (non-interest) income to total revenue of 40% by 4Q 2018

•

Positive operating leverage

•

Single digit organic loan and deposit growth

•

Low teens organic fee-income growth

•

Prudent expense management

efficiency ratio ~60%

•

Disciplined risk management

NPAs < 1%

•

Top quintile performance

•

Core & Sustainable ROA of 1.30% by 4Q 2018

The WSFS Franchise

•

Largest independent bank and

trust co. HQ in the Del. Valley

•

$6.6 billion in assets

•

$15.0

billion

(2)

in fiduciary

assets, including $1.9

billion

(2)

in assets

under management

•

76 offices

•

Founded in 1832, WSFS is one

of the ten oldest banks in the

U.S.

•

Major business lines

•

Retail

•

Commercial

•

Wealth Management

(1)

•

Cash Connect

®

(ATM cash

and related businesses)

(1)

The WSFS Franchise

15

(1)

Wealth and Cash Connect businesses conducted on a national basis

(2)

Includes AUM of West Capital Management (acquired 10/14/16)

*Most recently available FDIC data

16

The WSFS Franchise -

WSFS Bank

Deposits of Traditional Banks in the State of Delaware

June 30, 2016

Rank

Institution

(Adjusted for M&A)

Branch

Count

Total

Deposits in

Market

Total

Market

Share

‘15-’16

Growth

‘15-’16 

Growth

CAGR

‘08-’16

1

M&T Bank

39

5,767,847

28.85%

266,786

4.85%

2.44%

2

PNC Bank

39

4,083,312

20.43%

232,162

6.03%

6.70%

3         WSFS Bank

35

3,464,573

17.33%

254,450

7.93%

10.59%

4

Wells Fargo Bank

21

2,171,345

10.86%

140,084

6.90%

-4.88%

5

Citizens Bank

23

1,119,400

5.60%

122,861

12.33%

1.09%

6

TD Bank

13

981,306

4.91%

(58,087)

-5.59%

11.91%

7

Fulton Bank

10

522,251

2.61%

58,519

12.62%

8.98%

8

Artisans’ Bank

12

443,108

2.22%

14,062

3.28%

-1.81%

9

County Bank

7

290,031

1.45%

(11,348)

-3.77%

0.11%

10

Bank of America

4

276,261

1.38%

28,066

11.31%

29.54%

Top 10 State of Delaware Banks

203

$19,119,434

95.64%

1,047,555

5.80%

3.34%

(1)

Excludes estimated out-of-market deposits of TD Bank

(2)

Top 10 Delaware Banks house 96% of all traditional deposits in the state

(3)

Credit Unions represent an additional $1.921B in deposits, including $398.6MM @ Dover FCU and $342.1MM @ Del-One FCU.

2

1

The WSFS Franchise –

PA Expansion

17

Over the past 5 years, WSFS has successfully

expanded its franchise into Pennsylvania

through:

•

De novo branches; hiring local lenders

•

Acquisition of Array / Arrow

•

Acquisition of Alliance Bank

•

Acquisition of Penn Liberty Bank

•

Acquisition of West Capital Management (closed

10/14/16)

Strong position as one of the few remaining

super-community banks in the attractive and

rapidly consolidating southeastern PA markets

•

Approximately $5.4 billion of potential relationship

dislocation in three key southeastern PA counties

as a result of recent announced acquisitions

(SUSQ, NPBC and FNFG) by large, out-of-state

super-regionals

Penn Liberty increases PA scale to 28 total

offices across Chester, Delaware, and

Montgomery counties, within a very tight

geography

Source: SNL Financial.

1)

Chester, Delaware and Montgomery. Measured by deposits.

(1)

*Most recently available FDIC data

18

(1)

Ally Bank (f/k/a GMAC Bank) is not considered traditional deposits and therefore excluded for 2008.

(2)

WSFS deposits include the acquisition of Penn Liberty .

(3)

Credit Unions represent an additional $6.412B in deposits, including $2.171B @ Citadel FCU, $1.616B @ TruMark FCU and $878.8MM @

Franklin Mint FCU.

Deposits

of

Traditional

Banks

in

Chester,

Delaware

and

Montgomery

Counties

in

Pennsylvania

June 30, 2016*

The WSFS Franchise –

PA Expansion

1

Rank

Institution

(Adjusted for M&A)

Branch

Count

Total

Deposits in

Market

Total

Market

Share

‘15-’16

Growth

‘15-’16 

Growth

CAGR

‘08-’16

1

Wells Fargo Bank

81

$9,998,026

18.54%

$717,580

7.18%

37.89%

2

Citizens Bank of Pennsylvania

78

$6,716,543

12.45%

$227,891

3.39%

26.87%

3     

TD Bank

47

$6,557,250

12.16%

-$70,991

-1.08%

25.87%

4

PNC Bank

43

$5,149,275

9.55%

$446,431

8.67%

44.00%

5

BB&T

65

$3,369,044

6.25%

-$378,973

-11.25%

1.38%

6

Bank of America

23

$2,319,933

4.30%

$334,466

14.42%

68.63%

7

The Bryn Mawr Trust Company

33

$2,316,091

4.29%

$113,774

4.91%

38.87%

8

First Niagara Bank

36

$1,916,222

3.55%

$96,228

5.02%

-39.68%

9

Santander Bank

37

$1,861,093

3.45%

$95,537

5.13%

5.26%

10

Univest Bank and Trust Co.

21

$1,495,155

2.77%

$110,022

7.36%

27.04%

11

WSFS Bank

2

24

$1,060,811

1.97%

$480

0.05%

43.29%

Other banks

204

$12,235,329

22.69%

$842,537

6.89%

-39.38%

Total Ches/Del/Mont Counties

668

$53,933,961

100.00%

$2,534,502

4.93%

38.37%

The WSFS Franchise –

Diversified & Robust Fee Income

19

WSFS Strategic Plan goal of fee (non-interest) income to total revenue of 40% by 4Q 2018

%’s represent fee (non-interest) income / total revenue

(1) Excludes extraordinary items on page 38

$31

$30

$32

$33

$33

$36

$27

$30

$13

$16

$19

$24

$26

$28

$21

$24

$5

$13

$14

$16

$18

$23

$17

$18

28.8%

31.6%

33.5%

35.4%

34.5%

34.0%

34.9%

33.8%

$0

$10

$20

$30

$40

$50

$60

$70

$80

$90

$100

2010

2011

2012

2013

2014

2015

YTD

9/30/15

YTD

9/30/16

Trust & Wealth Management

Cash Connect

Bank Segment

CAGR: 12%

35.0% in

3Q 2016

The WSFS Franchise –

WSFS Wealth

Net

Revenue

of

$9.3

million

in

3Q

2016;

Pre-tax

profit

of

$3.2

million

(1) Per Bank Director Magazine

20

•

Registered investment advisor offering a

“balanced’ investment style focused on

preservation of capital and current income

•

Focus on high net worth individuals

•

$683 million assets under management

•

$854,000 revenue in 3Q 2016

•

Offers credit and deposit products

•

Focus on high net worth individuals

•

Partners/refers to other wealth units

•

$3.1 million revenue in 3Q 2016

•

Fiduciary and investment services

•

Services to personal trust clients as well as trustee, agency, bankruptcy, custodial and commercial

domicile services to corporate and institutional clients

•

$13.6 billion assets under administration including $541 million in assets under management

•

Ranked #1 in Trust Revenue growth in the state of Delaware and 26

nationwide

(1)

•

$4.4 million revenue in 3Q 2016

•

Offers insurance and brokerage products

•

Focus on retail banking clients

•

$514,000 revenue in 3Q 2016 

Visual representation does not include Powdermill or West which were acquired on 8/1/16 and 10/14/16, respectively

th

The WSFS Franchise –

WSFS Wealth

Recent Strategic Acquisitions

21

•

Closed August 1, 2016

•

Boutique multi-family office providing

estate and business succession planning,

bill paying, tax planning and preparation,

investment tracking and philanthropy

management

•

Ultra-High net worth clientele

•

Closed October 14, 2016 (4   Quarter)

•

Fee-only wealth management firm with

approximately $700 million in AUM

•

Custom planning and investment

management for institutions and high net

worth individuals

th

The WSFS Franchise –

Cash Connect®

•

Leading provider of ATM vault cash, armored carrier management, cash forecasting services,

insurance and equipment services

•

More than $890 million in vault cash

•

Over 20,000 non-bank ATMs nationwide

•

Adding ATM settlement services to existing managed service offering

•

Expanding ATM managed services from ISO market to FI market sector

•

Operates over 440 ATMs for WSFS Bank; largest in-market ATM franchise

•

$8.1 in million net revenue (fee income less funding costs) and

$2.3 million in pre-tax profitability in 3Q 2016

•

5 year CAGR for net revenue is 16%

•

3Q 2016 net revenue increased 16% from 3Q 2015

•

Also serves as an innovation center for the company, both

expanding core ATM offerings and additional payment-, processing-

and software-related activities; e.g., launched WSFS Mobile Cash –

allows Customers to securely withdraw cash from ATMs by using

their WSFS Mobile Banking App.

•

Realizing strong growth in its new deposit safe cash logistics

product rolled out in early 2015.  Significant deposit safe partners

have been added to the program which has built a strong pipeline

for 2016.

22

Selected Financial Information

The WSFS Franchise -

WSFS Bank

Assets $6.6 Billion; Net Loans $4.4 Billion

Asset

Composition –

September 30, 2016

•

Commercial loans

comprise 83% of the

loan portfolio

•

C&I (including owner-

occupied real estate),

the largest component,

makes up 52% of the

loan portfolio

24

Cash

Connect

10%

Investments

15%

BOLI 2%

Non-

Earning

Assets 7%

Net Loans

66%

7%

10%

5%

52%

26%

CRE

C&I

Residential

Mortgages

Consumer

Construction

Total Funding –

$6.6 Billion; Customer Deposits-

$4.6 Billion

Funding

Composition

–

September

30,

2016

•

Core customer funding

comprises 87% of total

customer funding

•

Non-interest and very

low interest DDA (WAC

14bps) stand at 48% of

total customer funding

25

The WSFS Franchise -

WSFS Bank

Other

Liabilities

1%

Wholesale

Deposits

2%

Borrowings

17%

Equity 11%

Customer

Deposits

69%

Non-

interest

DDA 27%

Interest

DDA 21%

Money

Market

&

Savings

39%

Time

13%

Well Positioned for Rising Rates

BPS Change

NII

% Impact

NII

$ Impact

+100

0.2% 

+$0.4mm

+200

2.4%

+$4.8mm

+300

4.3%

+$8.6mm

+400

6.3%

+$12.7mm

Balance Sheet Drivers

•

+100 Model results primarily reflects impact of WSFS prime

•

High % of variable/adjustable rate total loan portfolio: 66%

•

High % core deposits: 87%; High % non-interest bearing and low-interest DDA: 48%

•

Solid brand and position / WSFS is a market “price leader”

(1) WSFS IRR model estimates: Static Balance Sheet / Instantaneous Rate Shocks

26

1

Overall Credit Trends Remain Strong

Delinquencies

(1)

/ Gross Loans

Weighted Average Risk Rating

(3)

(1)

Includes non-accruing loans. Adjusting for a large delinquent loan that paid off in early October, delinquencies would have slightly decreased in 3Q 2016 to 0.62%

(2)

One large $15.4 million, highly-seasonal relationship that was exited in 3Q 2016

(3)

10 point scale; 1 is substantially risk-free, 10 is a loss.   Figures are based on loan outstandings.

27

Criticized & Classified Loans

/ Tier-1 + ALLL

NPAs / Total Assets

Average

delinquency over

the past 15

quarters was 0.90%

Average NPAs /

Total Assets over

the past 15

quarters was 0.98%

0.20%

0.40%

0.60%

0.80%

1.00%

1.20%

1.40%

1.60%

1.80%

2.00%

Delinquencies

Large Relationship (2)

4.00

4.20

4.40

4.60

4.80

5.00

5.20

5.40

5.60

5.80

6.00

17.92%

28.98%

10%

15%

20%

25%

30%

35%

40%

45%

50%

Classified Loans

Criticized Loans

0.61%

0.20%

0.70%

1.20%

1.70%

2.20%

0.78%

4.97

1Q13

2Q13

3Q13

4Q13

1Q14

2Q14

3Q14

4Q14

1Q15

2Q15

3Q15

4Q15

1Q16

2Q16

3Q16

1Q13

2Q13

3Q13

4Q13

1Q14

2Q14

3Q14

4Q14

1Q15

2Q15

3Q15

4Q15

1Q16

2Q16

3Q16

1Q13

2Q13

3Q13

4Q13

1Q14

2Q14

3Q14

4Q14

1Q15

2Q15

3Q15

4Q15

1Q16

2Q16

3Q16

1Q13

2Q13

3Q13

4Q13

1Q14

2Q14

3Q14

4Q14

1Q15

2Q15

3Q15

4Q15

1Q16

2Q16

3Q16

12/12

12/13

12/14

12/15

9/16

TRBC

14.29%

14.36%

13.83%

13.11%

11.88%

Tier-1 Capital

13.04%

13.16%

12.79%

12.31%

11.14%

Excess RBC (above 10%)

$140,117

$153,542

$147,186

$146,788

$102,130

TCE

7.72%

7.69%

9.00%

8.84%

8.05%

TBV/Share

$12.74

$12.89

$15.30

$16.30

$16.57

Robust Capital to Grow and to Return to Shareholders

Total Risk Based Capital (TRBC) 000’s

28

$250,000

$300,000

$350,000

$400,000

$450,000

$500,000

$550,000

$600,000

$650,000

12/12

12/13

12/14

12/15

9/16

Total Risk-Based Capital

Well Capitalized Requirement

Strong Alignment / Capital Management

•

Executive management bonuses and equity awards based on bottom-line

performance

•

ROA, ROTCE and EPS growth

•

Insider ownership

is over 5%

•

Board of Directors and Executive Management ownership guidelines in place

and followed

•

In 3Q 2016, WSFS repurchased 50,000 shares of common stock at an average price

of $37.08 as part of our 5% buyback program approved by the Board of Directors

in 4Q 2015

•

991,194 shares remaining to purchase under the current authorization

•

$121.0 million in cash remains in the Holding Company as of 9/30/2016

•

The Board of Directors approved a 17% increase of the quarterly cash dividend to

$0.07 per share of common stock in October 2016

(1)

As defined in our most recent proxy statement, as adjusted for unvested stock options approved by shareholders and awarded to the CEO and EVPs

in April 2013.

29

1

Business Model and Total Shareholder Returns

(1)   Completed by the Gallup Organization, as of December 31, 2015

(2)   Per Bloomberg; closing price as of  September 30, 2016

Focused Business Model

•

Consistently ranked in the top

quartile of all businesses

surveyed

•

Received the 2016 Gallup Great

Workplace Award

•

WSFS has been recognized by The

Wilmington News Journal as a

“Top Workplace Award” winner

eleven years

in a row.

•

Awarded “Top Workplace Award”

by Philly.com for the past two

years

•

Voted “Top Bank” in Delaware

six years

running (The News

Journal)

•

Customer advocacy survey

places WSFS at the 78th

percentile

•

On a scale of 1-5, 67% of WSFS

Customers rated us a “5” saying

“WSFS is the perfect bank for

people like me.”

•

Named a 2016 Bank & Thrift

"Sm-All Star" by a prominent

investment bank

•

Ranked 25

in BankDirector.com’s

performance scorecard for banks

with $5B -

$25B in assets

•

Total Shareholder Returns

WSFS

Nasdaq

Bank Index

1 year

27.6%

10.7%

3 year

85.6%

37.2%

5 year

262.0%

140.3%

10 year

94.6%

15.8%

30

2

th

1

1

1

Appendices

Appendix –

Table of Contents

Section

Page #

–

Appendix 1 –

Management Team

33-34

–

Appendix 2 –

Business Model

35

–

Appendix 3 –

Non-GAAP Financial Information

35-39

32

Appendix 1 –

Management Team

•

Mark A. Turner, 53, has served as President and Chief Executive Officer since 2007.  Mr. Turner was previously

Chief Operating Officer and the Chief Financial Officer for WSFS. Prior to joining WSFS, his experience includes

working at CoreStates Bank and Meridian Bancorp.  Mr. Turner started his career at the international professional

services firm of KPMG, LLP.  He received his MBA from the Wharton School of the University of Pennsylvania, his

Masters Degree in Executive Leadership from the University of Nebraska and his Bachelor’s Degree in Accounting

and Management from LaSalle University.

•

Rodger Levenson, 55, Executive Vice President and Chief Corporate Development Officer since 2015.

Mr.

Levenson was previously the Chief Commercial Banking Officer from 2006 to 2015 and interim Chief Financial

Officer from March 2015 to May 2016.

From 2003 to 2006, Mr. Levenson was Senior Vice President and Manager

of the Specialized Banking and Business Banking Divisions of Citizens Bank.

Mr. Levenson received his MBA in

Finance from Drexel University and his Bachelor’s Degree in Finance from Temple University.

•

Dominic C. Canuso, CFA, 41, recently joined WSFS as Executive Vice President and Chief Financial Officer.

From

2006 to 2016, he was Finance Director at Barclays’ US Credit Card Business, most recently servicing as Line of

Business CFO.

Prior to Barclays, he was at Advanta

Bank and Arthur Andersen Consulting.

Mr. Canuso received

his Executive MBA and Bachelor’s Degree from Villanova University.

•

Steve Clark, 59, joined WSFS Bank in 2002 and has served as Executive Vice President and Chief Commercial

Banking Officer since May 2016. From 2002 thru 2006, Mr. Clark led and managed the establishment of the

Middle Market lending unit, and in 2007 became Division Manager of the Business Banking and Middle Market

Divisions. Prior to 2002, he spent 23 years in various commercial banking positions at PNC Bank and its

predecessor companies.  Mr. Clark received his MBA in Finance from Widener University and his Bachelor of

Science Degree in Business Administration (Marketing) from the University of Delaware.

•

Peggy H. Eddens, 61, Executive Vice President, Chief Human Capital Officer since 2007. From 2003 to 2007 she

was Senior Vice President for Human Resources and Development for NexTier

Bank, Butler PA. Ms. Eddens

received a Master of Science Degree in Human Resource Management from La Roche College and her Bachelor

of Science Degree in Business Administration with minors in Management and Psychology from Robert Morris

University.

•

Paul D. Geraghty, 63, Executive Vice President and Chief Wealth Officer since 2011.  From 2007 to 2010, he was

Chief Executive Officer at Harleysville National Corporation, Harleysville, PA. Mr. Geraghty received his Bachelor

of Science in Accounting from Villanova University and pursued graduate study in business at Lehigh University.

33

Appendix 1 –

Management Team

•

Thomas W. Kearney, 68, Executive Vice President and Chief Risk Officer has been with WSFS since 1998. Mr.

Kearney holds a Bachelor’s degree in Business Administration (Finance and Accounting) from Drexel University. He

also holds the professional designations of Certified Bank Auditor (CBA) and Certified Financial Services Auditor

(CFSA). As Chief Risk Officer, Mr. Kearney’s primary responsibility is to manage and direct the various oversight

functions throughout the Company. These oversight functions include Enterprise Risk Management, Loan Review,

In-house Counsel, Security/Fraud Investigations, Regulatory Compliance, Internal Control/Audit and Credit

Administration.

•

S. James Mazarakis, 59, Executive Vice President and Chief Technology Officer since 2010.  Mr. Mazarakis  served

in a senior leadership role as Chief Information Officer for T. Rowe Price, and Managing Director and Divisional CIO

at JP Morgan Investment Asset Management. He received his Master of Science degree in Management of

Technology from Polytechnic Institute of New York University.

•

Thomas Stevenson, 64, has served as President of Cash Connect Division since 2003.  Mr. Stevenson joined WSFS

in 1996 as  Executive Vice President and Chief Information Officer.  Prior to joining WSFS, Mr. Stevenson was the

Manager of Quality Assurance at Electronic Payment Services.  Mr. Stevenson attended Wayne State University

and the Banking and Financial Services program at the University of Michigan’s Graduate School of Business

Administration.

•

Patrick J. Ward, 60, joined WSFS in August 2016 as Executive Vice President, Pennsylvania Market President. He

also serves on the Board of Directors of WSFS Financial Corporation. Mr. Ward has over 32 years of banking

industry experience and previously served as Chairman and CEO of Penn Liberty Bank. He was an EVP of Citizens

Bank of Pennsylvania from January 2003 until January 2004.  Prior thereto, Mr. Ward served as President and CEO

of Commonwealth Bancorp, Inc., the holding company for Commonwealth Bank, until its acquisition by Citizens

Bank in January 2003. Mr. Ward is a graduate of Carnegie Mellon University with a Bachelor of Science degree in

economics and earned an MBA from the University of Notre Dame.

•

Richard M. Wright, 64, Executive Vice President and Chief Retail Banking Officer since 2006. From 2003 to 2006,

Mr. Wright was Executive Vice President, Retail Banking and Marketing for DNB First in Downingtown, PA.  Mr.

Wright received his MBA in Management Decision Systems from the University of Southern California and his

Bachelor’s Degree in Marketing and Economics from California State University.

34

Appendix 2 –

Business Model

35

Appendix 3 –

Non-GAAP Financial Information

Tangible common equity to assets and Tangible common book value per share

36

3 Months Ended

3 Months Ended

3 Months Ended

September 30, 2016

June 30, 2016

September 30, 2015

Total Assets

$6,627,593

$5,834,107

$5,067,942

Less: Goodwill and other intangible assets

($172,709)

($94,073)

($56,339)

Total Tangible Assets

$6,454,884

$5,740,034

$5,011,603

Total Stockholders Equity

$692,010

$617,196

$505,617

Less: Goodwill and other intangible assets

($172,709)

($94,073)

($56,339)

Total Tangible Common Equity (non-GAAP)

$519,301

$523,123

$449,278

Calculation of Tangible Common Book Value Per Share

Book Value per Share (GAAP)

$22.08

$20.89

$18.46

Tangible Common Book Value Per Share (non-GAAP)

$16.57

$17.70

$16.40

Calculation of Tangible Common Equity to Assets

Equity to Asset Ratio (GAAP)

10.44%

10.58%

9.98%

Tangible Common Equity to Asset Ratio (non-GAAP)

8.05%

9.11%

8.96%

Appendix 3 –

Non-GAAP Financial Information

Core:  GAAP Reconciliation

37

(1)

Core Net Interest Income plus Core Non-interest Income

(2)

Noninterest expense divided by (tax-equivalent) net interest income plus noninterest income

(3)

Core noninterest expense divided by (tax-equivalent) core net interest income plus core noninterest income

3 Months Ended

September 30, 2016

Net Income

EPS

ROA

Reported (GAAP)

$12,722

$0.41

0.82%

Pre-tax adjustments: Sec gains

&  corporate development

costs

$4,845

$0.15

0.31%

Tax inpact of adjustments

($1,551)

($0.05)

(0.10%)

Core (non-GAAP)

$16,016

$0.51

1.03%

3 Months Ended

September 30, 2016

Total Average Stockholders' equity

$660,585

Less Goodwill and other intangible assets and preferred stock

($131,569)

Total Average Tangible Common Equity

$529,016

Net Income (GAAP)

$12,722

Less: Sec. gains, corp. dev. costs, net of taxes

$3,294

Core Net Income (non-GAAP)

$16,016

Plus Amortization of Goodwill and Other Intangibles

$158

Core Total Tangible Net Income Allocable to Common Stockholders

$16,174

Return on Tangible Common Equity (Reported)

9.69%

Core Return on Tangible Common Equity

12.16%

3 Months Ended

3 Months Ended

September 30, 2016

September 30, 2015

Net Interest Income (GAAP)

$49,021

$40,997

Adj:

Core Net Interest Income

$49,021

$40,997

Noninterest Inc

(as reported)

$26,849

$21,665

Adj: Securities Gains

($1,040)

($76)

Core Non-interest Income

$25,809

$21,589

Core Net Revenue

(1)

$74,830

$62,586

Noninterest Expense (GAAP)

$50,497

$38,705

Adj: Corporate Development

($5,885)

($855)

Core Noninterest Expense

$44,612

$37,850

Efficiency Ratio (Reported)

(2)

65.91%

61.24%

Core Efficiency Ratio

(3)

59.03%

59.96%

Appendix 3 -Non-GAAP Financial Information

Core: GAAP Reconciliation

38

YTD 2016

Pre-Tax

Adjustments

YTD 2016

FY15

Pre-Tax

Adjustments

FY15

FY14

Pre-Tax

Adjustments

FY14

FY13

Pre-Tax

Adjustments

FY13

FY12

Pre-Tax

Adjustments

FY12

FY11

Pre-Tax

Adjustments

FY11

Reported

(GAAP) Net Income

$45,970

$53,533

$53,757

$46,882

$31,311

$22,677

Adj: FHLB Dividend

(808)

(525)

Adj: Securities Gains

(1,890)

(1,229)

(1,478)

(961)

(1,037)

(674)

(3,516)

(2,285)

(21,425)

(13,926)

(4,878)

(3,171)

Adj: Rev mtg

consol

gain

(3,801)

(2,471)

Adj: BOLI Gain

(1,006)

(654)

Adj: Corp Development

7,003

4,768

7,620

5,486

4,031

2,741

717

538

3,662

2,454

780

507

Adj: Debt Extinguishment

651

423

Adj: Extraordinary tax benefit

(6,604)

(6,604)

Core Net Income

$49,509

$57,957

$49,220

$42,664

$19,184

$20,013

Appendix 3 –

Non-GAAP Financial Information

Core & Sustainable ROA: GAAP Reconciliation

39

3Q16

2Q16

1Q16

4Q15

3Q15

2Q15

1Q15

4Q14

3Q14

2Q14

1Q14

4Q13

3Q13

2Q13

1Q13

4Q12

Reported (GAAP) ROA

0.82%

1.23%

1.13%

1.03%

1.14%

0.98%

1.06%

1.07%

0.99%

1.12%

1.52%

1.09%

1.29%

1.00%

0.91%

0.70%

Non-recurring PCI accretion

-

(0.07)

-

-

-

-

-

-

-

-

-

-

-

-

Long-term credit normalization

0.15

(0.05)

(0.05)

-

(0.04)

0.10

(0.07)

(0.11)

(0.12)

(0.13)

0.01

(0.04)

(0.03)

(0.03)

(0.11)

0.08

Securities Gains

(0.04)

(0.03)

(0.01)

(0.02)

(0.01)

(0.02)

(0.03)

-

-

(0.02)

(0.03)

(0.04)

(0.02)

(0.05)

(0.10)

(0.22)

SASCO write up

-

-

-

-

-

-

-

-

-

(0.22)

-

-

-

Corporate Development expense

0.24

0.03

0.02

0.27

0.05

0.05

0.03

0.06

0.15

0.01

0.02

0.03

-

-

-

-

Debt Extinguishment

-

0.03

-

-

-

-

-

-

-

-

-

-

-

0.22

FHLB Dividend

-

-

-

-

(0.05)

-

-

-

-

-

-

-

-

-

Tax Normalization

0.00

(0.04)

0.01

-

0.02

-

0.04

(0.04)

(0.02)

(0.01)

(0.62)

-

(0.03)

-

-

-

Core & Sustainable ROA

1.17%

1.14%

1.10%

1.24%

1.16%

1.11%

0.98%

0.98%

1.00%

0.97%

0.90%

1.04%

0.99%

0.92%

0.70%

0.78%

YTD

9/30/16

FY15

FY14

FY13

FY12

Reported (GAAP) ROA

1.05%

1.05%

1.17%

1.07%

0.73%

Non-recurring PCI accretion

(0.02)

-

-

-

Long-term credit normalization

0.02

-

(0.09)

(0.05)

0.33

Securities Gains

(0.03)

(0.02)

(0.01)

(0.05)

(0.33)

SASCO write up

-

-

(0.06)

-

Corporate Development expense

0.11

0.10

0.06

0.01

-

Debt Extinguishment

0.01

-

-

0.06

FHLB Dividend

(0.01)

-

-

-

BOLI

-

-

-

(0.02)

Tax Normalization

(0.01)

0.02

(0.18)

(0.01)

-

Core & Sustainable ROA

1.14%

1.13%

0.95%

0.91%

0.77%

For more information please contact:

Investor Relations: Dominic Canuso (302) 571-6833 or

dcanuso@wsfsbank.com

www.wsfsbank.com

Corporate Headquarters

500 Delaware Avenue

Wilmington, DE 19801

40