WSFS Bank is one of the ten oldest, continuously-operating banks in the United States. A permanent fixture in this community, The Bank is a service-oriented, locally-managed, community banking institution. The WSFS Bank mission is simple, "Strengthening the Core of Delaware." For many years, WSFS has been servicing businesses of all sizes, as well as growing families. WSFS has underwritten many homes in the Delaware Valley, advanced local business with a wide range of banking services and continues to implement innovative tactics to streamline personal and business banking.
I have been a customer of this bank for over 15 years, and it is a bank that really focuses on the customer and goes the extra mile to provide great service. Although I had a couple negative experiences (with an excessive overdraft fee and fees for reordering checks),most of my contact with this bank has been problem free. At one branch, all of the representatives remember names and help each other out with cases when the others are busy.
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Wilmington Savings Fund Society FSB had $36.02 million in non-current loans and owned real-estate with $519.85 million in equity and loan loss allowances on hand to cover it. This gives Wilmington Savings Fund Society FSB a Texas Ratio of 6.93% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Wilmington Savings Fund Society FSB decreased dramatically from 10.39% as of December 31, 2012 to 6.93% as of December 31, 2013, resulting in a positive change of 33.30%.This indicates that the balance sheet and financial strength for Wilmington Savings Fund Society FSB has improved dramatically in recent periods.
In the past year, Wilmington Savings Fund Society FSB has decreased its total deposits by -$130.24 million, resulting in -3.9% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Wilmington Savings Fund Society FSB has shown is below average.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Wilmington Savings Fund Society FSB has $4.51 billion in assets with $519.85 million in equity, resulting in a capitalization level of 11.52%, which is excellent.
|FDIC Certificate #||17838|
|Assets and Liabilities|
|Equity Capital||$478.60 million|
|Loan Loss Allowance||$41.24 million|
|Unbacked Noncurrent Loans||$31.48 million|
|Real Estate Owned||$4.53 million|
|Historic Data - December 2012|
|Equity Capital||$467.93 million|
|Loan Loss Allowance||$43.92 million|
|Unbacked Noncurrent Loans||$31.48 million|
|Real Estate Owned||$4.62 million|
|Profit Margin - Quarterly|
|Net Interest Margin||3.63%|
|Return on Assets||0.99%|
|Return on Equity||9.31%|
|Interest Income||$145.41 million|
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|0.05%||$25k||-||WSFS Small Business Core Savings|
|0.05%||$25k||-||WSFS Core Savings|
|0.20%||$250k||-||WSFS Money Market|
|0.15%||$50k||-||WSFS Small Business Money Market|
|0.10%||$100k||-||WSFS Relationship Checking|
|0.03%||$10k||-||WSFS Interest Checking|
|1.25%||$2,500||-||60 - 119 Month Fixed-Rate CD|
|1.05%||$90k||-||60 Month Jumbo CD|
|1.00%||$2,500||-||36 Month Promotional CD|
|0.75%||$2,500||-||48 - 59 Month Fixed-Rate CD|
|0.75%||$90k||-||48 Month Jumbo CD|
|0.60%||$2,500||-||18 Month Promotional CD|
|0.55%||$90k||-||36 Month Jumbo CD|
|0.45%||$2,500||-||24 - 35 Month Fixed-Rate CD|
|0.45%||$90k||-||24 Month Jumbo CD|
|0.35%||$90k||-||12 Month Jumbo CD|
|0.35%||$90k||-||18 Month Jumbo CD|
|0.30%||$2,500||-||12 - 23 Month Fixed-Rate CD|
|0.20%||$90k||-||6 Month Jumbo CD|
|0.20%||$90k||-||9 Month Jumbo CD|
|0.15%||$2,500||-||6 - 11 Month Fixed-Rate CD|
|0.10%||$90k||-||30 Day Jumbo CD|
|0.10%||$90k||-||60 Day Jumbo CD|
|0.10%||$90k||-||3 Month Jumbo CD|
|0.05%||$2,500||-||5 Month Fixed-Rate CD|
|0.03%||$5k||-||3 - 5 Month No Penalty CD|
|1.25%||$2,500||-||60 - 119 Month Fixed-Rate IRA CD|
|1.00%||$2,500||-||36 Month Promotional IRA|
|0.75%||$2,500||-||48 - 59 Month Fixed-Rate IRA CD|
|0.60%||$2,500||-||18 Month Promotional IRA|
|0.45%||$2,500||-||24 - 35 Month Fixed-Rate IRA CD|
|0.30%||$2,500||-||12 - 23 Month Fixed-Rate IRA CD|
|0.15%||$2,500||-||6 - 11 Month Fixed-Rate IRA CD|
|0.05%||$2,500||-||5 Month Fixed-Rate IRA CD|