WSFS Financial Corporation (WSFS)

Overview

WSFS Financial Corporation functions as the holding company for the Wilmington Savings Fund Society, FSB, providing a broad spectrum of banking services across the United States. With a history dating back to 1832, and headquartered in Wilmington, Delaware, the company showcases a diversified operation spanning three key segments: WSFS Bank, Cash Connect, and Wealth Management. As of December 31, 2020, it has established a strong presence with 112 offices spread across Pennsylvania, Delaware, New Jersey, Virginia, and Nevada.

Products and Services

• Deposit Products: WSFS offers a variety of deposit products catering to the needs of individuals, businesses, and municipalities. These products include savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit. The bank also handles jumbo certificates of deposit, accommodating larger financial engagements.
• Loan Services: The company provides an array of loans that support various customer needs. This includes fixed and adjustable rate residential loans, commercial real estate mortgage loans, and commercial construction loans. Additionally, WSFS extends commercial loans for purposes like working capital, equipment financing, real estate acquisitions, business expansion, among other business uses. Consumer credit products like home improvement loans, automobile loans, other secured and unsecured personal installment loans, home equity lines, unsecured lines of credit, and government-insured reverse mortgages are also available.
• Investment and Insurance Products: Through partnerships with third parties, WSFS offers a wide range of investment and insurance products including single-premium annuities, whole life policies, and a variety of securities. These services are designed to meet the needs of high net worth individuals and institutions, reflecting the bank's comprehensive approach to financial management and planning.
• Investment Advisory Services: The bank caters to high net worth clients and institutions by providing expert investment advisory services. These services are tailored to optimize the financial portfolio of clients, ensuring that their investment strategies align with their financial goals.
• Mortgage and Title Services: WSFS streamlines the process of acquiring mortgages and handling title services, facilitating smooth property transactions for its customers.
• Leasing Services: Beyond traditional banking products, WSFS provides leasing options, allowing customers to lease small equipment and fixed assets in a way that supports their business operations and growth strategies.
• Cash Management and Logistics: The company's Cash Connect segment delivers advanced cash management and logistics services. These services include ATM vault cash management, smart safe solutions, and other cash logistics services which encompass online reporting, ATM cash management, predictive cash ordering and reconcilement, armored carrier management, loss protection, and sales of ATM processing equipment as well as deposit safe logistics.
• Trust and Wealth Management Services: WSFS offers comprehensive trust and wealth management services, addressing the complex financial planning, investment management, and estate planning needs of its clients, thereby ensuring the preservation and growth of their wealth over time.