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WSFS Financial Corporation FOR IMMEDIATE RELEASE July 22 , 2021 WSFS Bank Center 500 Delaware Avenue , Wilmington , Delaware 19801 1 EXHIBIT 99.1 Investor Relations Contact : Dominic C. Canuso ( 302 ) 571-6833 ; dcanuso@wsfsbank.com Media Contact : Rebecca Acevedo ( 215 ) 253-5566 ; racevedo@wsfsbank.com WSFS REPORTS 2Q 2021 EPS OF $ 2.01 AND ROA OF 2.60 % ; RESULTS REFLECT STRENGTH OF DIVERSIFIED BUSINESS MODEL ; $ 67.6 MILLION ACL RELEASE FROM ECONOMIC OUTLOOK AND CREDIT TRENDS WILMINGTON , Del . - WSFS Financial Corporation ( Nasdaq : WSFS ) , the parent company of WSFS Bank , today announced its financial results for the second quarter of 2021 . Selected quarterly financial results and metrics are as follows : ( Dollars in millions , except per share data ) Net interest income Fee income Total net revenue ( Recovery of ) provision for credit losses Noninterest expense Net income attributable to WSFS Pre - provision net revenue ( PPNR ) ( ¹ ) Earnings per share ( diluted ) Return on average assets ( ROA ) ( a ) Return on average equity ( ROE ) ( a ) Efficiency ratio 2Q 2021 106.7 49.0 155.8 ( 67.6 ) 96.0 95.7 59.7 2.01 2.60 % 21.3 61.6 1Q 2021 2Q 2020 114.2 113.8 47.8 64.4 162.0 178.1 ( 20.2 ) 94.8 95.6 93.4 65.1 ( 7.1 ) 66.4 84.7 1.36 1.85 % 14.9 ( 0.14 ) ( 0.22 ) % ( 1.6 ) 58.9 52.4 GAAP results for the quarterly periods shown below included the following items that are excluded from core results . During the quarter , WSFS recorded a $ 5.1 million unrealized gain on our investment in Social Finance , Inc. ( SoFi ) , which we liquidated at a net realized gain of $ 4.4 million in July 2021. For 2Q 2021 , the $ 2.4 million of corporate development and restructuring expense primarily relates to our pending combination with Bryn Mawr Bank Corporation ( " Bryn Mawr " ) anticipated to close in early 4Q 2021 . 2Q 2021 IQ 2021 2Q 2020 ( Dollars in millions , except per share data ) Total ( pre - tax ) Per share ( after - tax ) Total ( pre - tax ) Per share ( after - tax ) Total ( pre - tax ) Per share ( after - tax ) Securities gains S 0.3 S 0.01 1.9 $ 0.03 Unrealized gain on equity investments , net 5.3 0.08 = Realized gain on sale of equity investment , net - Corporate development and restructuring expense 2.4 0.04 18 0.04 221 2.8 0.35 0.04 Loss on debt extinguishment Contribution to WSFS CARES Foundation 1.1 1.0 0.02 0.02 ( ¹ ) As used in this press release , PPNR is a non - GAAP financial measure calculated as net revenue before ( recovery of ) provision for credit losses and net of noninterest expense . For a reconciliation of this and other non - GAAP financial measures to their comparable GAAP measures , see " Non - GAAP Reconciliation " at the end of the press release .