WSFS Financial Corporation (NASDAQ:WSFS) Q4 2023 Earnings Conference Call January 26, 2024 1:00 PM ET

Company Participants

Art Bacci - Interim Chief Financial Officer

Rodger Levenson - Chairman, President and Chief Executive Officer

Steve Clark - Chief Commercial Banking Officer

Conference Call Participants

Michael Perito - KBW

Feddie Strickland - Janney Montgomery Scott

Russell Gunther - Stephens

Frank Schiraldi - Piper Sandler

Manuel Navas - D.A. Davidson

Operator

Hello, and welcome to the WSFS Financial Corporation Fourth Quarter Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]

I'd now like to turn the call over to your host for today, Mr. Art Bacci, Interim Chief Financial Officer. Sir, you may begin.

Art Bacci

Thank you. Good afternoon, and thank you again for joining our fourth quarter 2023 earnings call.

Our earnings release and earnings release supplement, which we will refer to on today's call, can be found in the Investor Relations section of our company website.

With me on this call are Rodger Levenson, Chairman, President, and CEO; Steve Clark, Chief Commercial Banking Officer; and Shari Kruzinski, Chief Consumer Banking Officer.

Before I turn the call over to Roger for his remarks on the quarter, I would like to read out our safe harbor statement. Our discussion today will include information about our management's view of our future expectations, plans, and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements due to risks and uncertainties, including, but not limited to, the risk factors included in our annual report on Form 10-K and our most recent quarterly reports on Form 10-Q, as well as other documents we periodically file with the Securities and Exchange Commission. All comments made during today's call are subject to the safe harbor statement.

I will now turn the call over to Roger.

Rodger Levenson

Thank you, Art, and everyone else, for joining us on the call today.

WSFS performed very well in the fourth quarter, as we continued to demonstrate the strength and diversity of our business model. These results capped a successful 2023 with full year core earnings per share of $4.55, core return on tangible common equity of 22.48%, and a core return on assets of 1.38%. Each of these metrics exceeded 2022 levels.

Highlights for the quarter and full year included: