Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Cover [Abstract] | |
Document Type | DEF 14A |
Entity Registrant Name | WSFS FINANCIAL CORPORATION |
Entity Central Index Key | 0000828944 |
Amendment Flag | false |
Pay vs Performance Disclosure
Pay vs Performance Disclosure | 12 Months Ended | |||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | ||
Pay vs Performance Disclosure [Table] | ||||
Pay vs Performance [Table Text Block] | Year Summary Compensation Table Total for CEO (1) $ Compensation Actually Paid to CEO (2) $ Average Summary Compensation Table Total for Non-CEO NEOs (1) $ Average Compensation Actually Paid to Non-CEO NEOs (2) $ WSFS TSR (3) $ Peer Group TSR (4) $ WSFS Reported Net Income (in millions) $ WSFS QoE Adjusted ROA (5) % 2022 4,658,471 4,642,876 1,452,394 1,375,931 107.05 113.03 222.4 1.40% 2021 3,386,092 3,690,966 1,373,560 1,400,192 116.92 123.08 271.4 1.86% 2020 2,563,402 2,970,990 1,038,954 1,265,202 103.60 92.93 114.8 0.77% | |||
Named Executive Officers, Footnote [Text Block] | Our Principal Executive Officer (PEO) was Mr. Rodger Levenson | |||
PEO Total Compensation Amount | [1] | $ 4,658,471 | $ 3,386,092 | $ 2,563,402 |
PEO Actually Paid Compensation Amount | [2] | 4,642,876 | 3,690,966 | 2,970,990 |
Non-PEO NEO Average Total Compensation Amount | [1] | 1,452,394 | 1,373,560 | 1,038,954 |
Non-PEO NEO Average Compensation Actually Paid Amount | [2] | $ 1,375,931 | 1,400,192 | 1,265,202 |
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | ||||
Compensation Actually Paid vs. Net Income [Text Block] | Net income for 2020 was negatively impacted due to the adoption of CECL and the additional expected losses related to the early stages of the COVID-19 pandemic. Net income for 2021 was positively impacted by the release of the prior years CECL reserves related to COVID-19, due to continued strong governmental support to the overall economy and our Customers and the related decrease in expected losses resulting from the COVID-19 pandemic. | |||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | ||||
Tabular List [Table Text Block] | Performance Measures Our Personnel & Compensation Committee takes a comprehensive perspective in appraising executive officer and Company performance, and considers multiple metrics in our ELTIP. Refer to the CD&A for further discussion of how we maintain alignment between performance and rewards. As required by SEC rules, the performance measures identified as the most important for executive officer compensation decisions are listed below. • QoE Adjusted Return on Assets– our CSM • QoE Adjusted Return on Tangible Common Equity • QoE Adjusted Earnings per Share | |||
Total Shareholder Return Amount | [3] | $ 107.05 | 116.92 | 103.60 |
Peer Group Total Shareholder Return Amount | [4] | 113.03 | 123.08 | 92.93 |
Net Income (Loss) | $ 222,400,000 | $ 271,400,000 | $ 114,800,000 | |
Company Selected Measure Amount | [5] | 0.0140 | 0.0186 | 0.0077 |
PEO Name | Mr. Rodger Levenson | |||
Measure [Axis]: 1 | ||||
Pay vs Performance Disclosure [Table] | ||||
Measure Name | QoE Adjusted Return on Assets– our CSM | |||
Measure [Axis]: 2 | ||||
Pay vs Performance Disclosure [Table] | ||||
Measure Name | QoE Adjusted Return on Tangible Common Equity | |||
Measure [Axis]: 3 | ||||
Pay vs Performance Disclosure [Table] | ||||
Measure Name | QoE Adjusted Earnings per Share | |||
PEO [Member] | Amount deducted for aggregate change in actuarial present value from SCT | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | ||||
PEO [Member] | Amount deducted for grant date values in the SCT | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | 2,405,330 | 1,345,478 | 1,315,122 | |
PEO [Member] | Amount included for year-end fair value of unvested awards granted in the current year | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | 2,645,725 | 1,301,603 | 1,671,301 | |
PEO [Member] | Amount included (+ or -) for year-over-year difference of year-end fair values for unvested awards granted in prior years | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | (87,156) | 238,123 | 88,320 | |
PEO [Member] | Amount included (+ or -) for fair values at vest date for awards granted and vested in current year | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | 80,009 | |||
PEO [Member] | Amount included(+ or -) for difference in fair values between prior year- end fair values and vest date fair values for awards granted in prior years | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | (168,834) | 110,627 | (116,920) | |
PEO [Member] | Total Adjustments | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | [6] | 2,389,735 | 1,650,352 | 1,722,710 |
Non-PEO NEO [Member] | Amount deducted for aggregate change in actuarial present value from SCT | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | ||||
Non-PEO NEO [Member] | Amount deducted for grant date values in the SCT | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | 586,874 | 396,274 | 403,159 | |
Non-PEO NEO [Member] | Amount included for year-end fair value of unvested awards granted in the current year | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | 602,081 | 272,289 | 644,543 | |
Non-PEO NEO [Member] | Amount included (+ or -) for year-over-year difference of year-end fair values for unvested awards granted in prior years | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | (24,852) | 73,657 | 45,764 | |
Non-PEO NEO [Member] | Amount included (+ or -) for fair values at vest date for awards granted and vested in current year | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | 77,498 | |||
Non-PEO NEO [Member] | Amount included(+ or -) for difference in fair values between prior year- end fair values and vest date fair values for awards granted in prior years | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | (66,818) | (538) | (60,901) | |
Non-PEO NEO [Member] | Total Adjustments | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | [6] | $ 510,411 | $ 422,906 | $ 629,406 |
[1] Our Principal Executive Officer (PEO) was Mr. Rodger Levenson Appendix A – non-GAAP Reconciliations |