WSFS FINANCIAL CORP, 10-K filed on 2/28/2025
Annual Report
v3.25.0.1
COVER PAGE - USD ($)
 12 Months Ended
Dec. 31, 2024
Feb. 24, 2025
Jun. 30, 2024
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2024    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 001-35638    
Entity Registrant Name WSFS FINANCIAL CORPORATION    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 22-2866913    
Entity Address, Address Line One 500 Delaware Avenue    
Entity Address, City or Town Wilmington    
Entity Address, State or Province DE    
Entity Address, Postal Zip Code 19801    
City Area Code 302    
Local Phone Number 792-6000    
Title of 12(b) Security Common Stock, $0.01 par value    
Trading Symbol WSFS    
Security Exchange Name NASDAQ    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Emerging Growth Company false    
Entity Small Business false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 2,757,450,332
Entity Common Stock, Shares Outstanding   58,557,557  
Documents Incorporated by Reference
DOCUMENTS INCORPORATED BY REFERENCE
Portions of the Registrant’s Proxy Statement for the 2025 Annual Meeting of Stockholders are incorporated by reference in Part III hereof.
    
Entity Central Index Key 0000828944    
Amendment Flag false    
Document Fiscal Year Focus 2024    
Document Fiscal Period Focus FY    
v3.25.0.1
AUDIT INFORMATION
 12 Months Ended
Dec. 31, 2024
Auditor Information [Abstract]  
Auditor Name KPMG LLP
Auditor Location Philadelphia, PA
Auditor Firm ID 185
v3.25.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Interest income:      
Interest and fees on loans and leases $ 918,381 $ 845,271 $ 582,754
Interest on mortgage-backed securities 102,024 107,555 106,606
Interest and dividends on investment securities:      
Taxable 2,798 2,803 2,812
Tax-exempt 5,941 5,980 4,087
Other interest income 34,438 14,913 7,556
Total interest income 1,063,582 976,522 703,815
Interest expense:      
Interest on deposits 308,676 209,820 28,181
Interest on Federal Home Loan Bank advances 2,967 5,348 538
Interest on senior and subordinated debt 9,690 9,815 8,246
Interest on trust preferred borrowings 6,910 6,736 3,482
Interest on federal funds purchased 343 1,673 443
Interest on other borrowings 29,558 18,027 35
Total interest expense 358,144 251,419 40,925
Net interest income 705,438 725,103 662,890
Provision for credit losses 61,410 88,071 48,089
Net interest income after provision for (recovery of) credit losses 644,028 637,032 614,801
Noninterest income:      
Loan and lease fee income 6,681 5,718 6,275
Unrealized gains on equity investments, net 0 329 5,980
Realized gain on sale of equity investment, net 2,309 9,493 0
Bank owned life insurance income 4,724 4,642 1,804
Total non interest income 340,920 289,871 260,134
Noninterest expense:      
Salaries, benefits and other compensation 332,682 289,193 283,905
Occupancy expense 37,579 42,184 40,885
Equipment expense 47,744 42,242 40,994
Professional fees 20,164 21,200 18,497
Data processing and operations expenses 18,281 19,054 20,876
Marketing expense 7,824 7,914 7,230
FDIC expenses 12,166 15,887 6,098
Loan workout and other credit costs 2,123 852 702
Corporate development expense 473 3,931 42,749
Restructuring expense 2,193 (230) 22,473
Other operating expense 156,460 119,406 89,917
Total non interest expenses 637,689 561,633 574,326
Income before taxes 347,259 365,270 300,609
Income tax provision 83,764 96,245 77,961
Net income 263,495 269,025 222,648
Less: Net (loss) income attributable to noncontrolling interest (176) (131) 273
Net income attributable to WSFS $ 263,671 $ 269,156 $ 222,375
Basic earnings per share (in dollars per share) $ 4.43 $ 4.40 $ 3.50
Diluted earnings per share (in dollars per share) $ 4.41 $ 4.40 $ 3.49
Credit/debit card and ATM income      
Noninterest income:      
Noninterest income $ 88,710 $ 59,718 $ 40,088
Investment management and fiduciary revenue      
Noninterest income:      
Noninterest income 146,945 131,050 121,608
Deposit service charges      
Noninterest income:      
Noninterest income 26,664 25,393 24,484
Mortgage banking activities, net      
Noninterest income:      
Noninterest income 7,565 4,799 7,271
Other income      
Noninterest income:      
Noninterest income $ 57,322 $ 48,729 $ 52,624
v3.25.0.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Comprehensive Income [Abstract]      
Net income $ 263,495 $ 269,025 $ 222,648
Less: Net (loss) income attributable to noncontrolling interest (176) (131) 273
Net income attributable to WSFS 263,671 269,156 222,375
Net change in unrealized gains (losses) on investment securities available-for-sale      
Net unrealized (losses) gains arising during the period, net of tax (benefit) expense of $(11,955), $20,085, and $(167,261), respectively (37,857) 63,601 (529,660)
Net change in securities held-to-maturity      
Net change in unrealized losses (gains) on securities reclassified to held-to-maturity, net of tax expense (benefit) of $4,774, $5,361, and $(34,319), respectively [1],[2] 15,118 16,980 (108,678)
Net change in unfunded pension liability      
Change in unfunded pension liability related to unrealized loss (gain) and prior service cost, net of tax expense (benefit) of $269, $1, and $(5), respectively 799 (132) 209
Net change in cash flow hedge      
Net unrealized (loss) gain arising during the period, net of tax (benefit) expense of $(2,809), $504, and $—, respectively (8,894) 1,596 0
Amortization of unrealized gain on terminated cash flow hedges, net of tax benefit of $—, $34 and $51, respectively 0 (107) (160)
Net change in cash flow hedge (8,894) 1,489 (160)
Net change in equity method investments      
Net change in other comprehensive (loss) income of equity method investments, net of tax (benefit) expense of $(16), $(27), and $67, respectively (52) (85) 213
Total other comprehensive (loss) income (30,886) 81,853 (638,076)
Total comprehensive income (loss) $ 232,785 $ 351,009 $ (415,701)
[1] Includes $119.8 million, net of tax benefit, of unrealized losses on transferred investment securities with a book value of $1.1 billion from available-for-sale to held-to-maturity that were transferred in June 2022.
[2] Includes amortization of unrealized gains and losses on securities reclassified to held-to-maturity.
v3.25.0.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($)
$ in Thousands
 1 Months Ended 12 Months Ended
Jun. 30, 2022
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Net change in unrealized (losses) gains, tax (benefit) expense   $ (11,955) $ 20,085 $ (167,261)
Net change in unrealized (losses) gains on securities reclassified to held-to-maturity, tax (benefit) expense   4,774 5,361 34,319
Change in unfunded pension liability related to unrealized (loss) gain , prior service cost, tax benefit (expense)   269 1 (5)
Net change in cash flow hedge, tax (benefit) expense   (2,809) 504 0
Amortization of unrealized gain on terminated cash flow hedges, tax benefit   0 (34) (51)
Equity method investment tax (benefit) expense   $ (16) $ (27) $ 67
Fannie Mae (FNMA) mortgage-backed securities (MBS)        
Net change in unrealized (losses) gains on securities reclassified to held-to-maturity, tax (benefit) expense $ (119,800)      
Securities transferred to held-to-maturity from available-for-sale, book value $ 1,100,000      
v3.25.0.1
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Assets:    
Cash and due from banks $ 722,722 $ 629,310
Cash in non-owned ATMs 430,320 458,889
Interest-bearing deposits in other banks including collateral (restricted cash) of $1,701 at December 31, 2024 and $4,270 at December 31, 2023 1,776 4,701
Total cash, cash equivalents, and restricted cash 1,154,818 1,092,900
Investment securities, available for sale (amortized cost of $4,218,266 at December 31, 2024 and $4,504,342 at December 31, 2023) 3,510,648 3,846,537
Investment securities, held to maturity, net of allowance for credit losses of $7 at December 31, 2024 and $8 at December 31, 2023 (fair value $895,511 at December 31, 2024 and $985,931 at December 31, 2023) 1,015,161 1,058,557
Other investments 18,184 17,434
Loans held for sale at fair value 49,699 29,268
Loans and leases, net of allowance of $195,281 at December 31, 2024 and $186,126 at December 31, 2023 12,996,218 12,583,202
Bank-owned life insurance 36,565 42,762
Stock in Federal Home Loan Bank of Pittsburgh, at cost 11,805 15,398
Other real estate owned 5,204 1,569
Accrued interest receivable 84,671 85,979
Premises and equipment 86,028 104,484
Goodwill and intangible assets 988,160 1,004,560
Other assets 857,142 712,022
Total assets 20,814,303 20,594,672
Deposits:    
Noninterest-bearing 4,987,753 4,917,297
Interest-bearing demand 12,042,055 11,556,789
Total deposits 17,029,808 16,474,086
Federal Home Loan Bank advances 51,040 0
Trust preferred borrowings 90,834 90,638
Senior and subordinated debt 218,631 218,400
Other borrowed funds 23,102 586,038
Accrued interest payable 38,173 46,684
Other liabilities 783,339 709,011
Total liabilities 18,234,927 18,124,857
Stockholders’ Equity:    
Common stock 0.01 par value, shares authorized of 90,000,000; shares issued of 76,264,211 at December 31, 2024 and 76,095,094 at December 31, 2023 763 761
Capital in excess of par value 1,996,191 1,984,746
Accumulated other comprehensive loss (624,877) (593,991)
Retained earnings 1,871,523 1,643,657
Treasury stock at cost, 17,607,002 shares at December 31, 2024 and 15,557,263 shares at December 31, 2023 (653,848) (557,537)
Total stockholders’ equity of WSFS 2,589,752 2,477,636
Noncontrolling interest (10,376) (7,821)
Total stockholders’ equity 2,579,376 2,469,815
Total liabilities and stockholders’ equity $ 20,814,303 $ 20,594,672
v3.25.0.1
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Statement of Financial Position [Abstract]    
Interest-bearing deposits in other banks, collateral $ 1,701 $ 4,270
Amortized Cost 4,218,266 4,504,342
Allowance for credit losses on held-to-maturity debt securities 7 8
Investment securities, held-to-maturity-at cost, fair value 895,511 985,931
Allowance for credit losses on loans and leases $ 195,281 $ 186,126
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 90,000,000 90,000,000
Common stock, issued (in shares) 76,264,211 76,095,094
Treasury stock (in shares) 17,607,002 15,557,263
v3.25.0.1
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Total Stockholders’ Equity of WSFS
Common Stock
Capital in Excess of Par Value
Accumulated Other Comprehensive Loss
Retained Earnings
Treasury Stock
Non-controlling Interest
Beginning balance (in shares) at Dec. 31, 2021     57,695,676          
Beginning balance at Dec. 31, 2021 $ 1,937,016 $ 1,939,099 $ 577 $ 1,058,997 $ (37,768) $ 1,224,614 $ (307,321) $ (2,083)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income (loss) 222,648 222,375       222,375   273
Other comprehensive (loss) income (638,076) (638,076)     (638,076)      
Cash dividend (35,746) (35,746)       (35,746)    
Distributions to noncontrolling shareholders (504)             (504)
Issuance of common stock including proceeds from exercise of common stock options (in shares)     109,473          
Issuance of common stock including proceeds from exercise of common stock options 3,179 3,179 $ 1 3,178        
Issuance of common stock in acquisition of BMT (in shares)     18,116,848          
Issuance of common stock in acquisition of BMT 908,016 908,016 $ 181 907,835        
Noncontrolling interest assumed in acquisition (913)             (913)
Stock-based compensation expense 6,349 6,349   6,349        
Repurchases of common stock [1] (200,083) (200,083)   (2,149)     (197,934)  
Ending balance (in shares) at Dec. 31, 2022     75,921,997          
Ending balance at Dec. 31, 2022 2,201,886 2,205,113 $ 759 1,974,210 (675,844) 1,411,243 (505,255) (3,227)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income (loss) 269,025 269,156       269,156   (131)
Other comprehensive (loss) income 81,853 81,853     81,853      
Cash dividend (36,742) (36,742)       (36,742)    
Distributions to noncontrolling shareholders (4,463)             (4,463)
Issuance of common stock including proceeds from exercise of common stock options (in shares)     173,097          
Issuance of common stock including proceeds from exercise of common stock options 3,298 3,298 $ 2 3,296        
Stock-based compensation expense 9,605 9,605   9,605        
Repurchases of common stock [1] (54,647) (54,647)   (2,365)     (52,282)  
Ending balance (in shares) at Dec. 31, 2023     76,095,094          
Ending balance at Dec. 31, 2023 2,469,815 2,477,636 $ 761 1,984,746 (593,991) 1,643,657 (557,537) (7,821)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income (loss) 263,495 263,671       263,671   (176)
Other comprehensive (loss) income (30,886) (30,886)     (30,886)      
Cash dividend (35,805) (35,805)       (35,805)    
Distributions to noncontrolling shareholders (3,299) (920)   (920)       (2,379)
Issuance of common stock including proceeds from exercise of common stock options (in shares) [2]     169,117          
Issuance of common stock including proceeds from exercise of common stock options [2] 466 466 $ 2 464        
Stock-based compensation expense 11,901 11,901   11,901        
Repurchases of common stock [1] (96,311) (96,311)   0     (96,311)  
Ending balance (in shares) at Dec. 31, 2024     76,264,211          
Ending balance at Dec. 31, 2024 $ 2,579,376 $ 2,589,752 $ 763 $ 1,996,191 $ (624,877) $ 1,871,523 $ (653,848) $ (10,376)
[1] Repurchase of common stock for the years ended December 31, 2024, 2023 and 2022 included 2,049,739, 1,247,178 and 4,151,117 shares repurchased, respectively, in connection with the Company's share buyback program approved by the Board of Directors. The years ended December 31, 2023 and 2022 included 45,489 and 113,039 shares withheld, respectively, to cover tax liabilities.
[2] Issuance of common stock includes 54,972 shares withheld to cover tax liabilities.
v3.25.0.1
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash dividend per share (in dollars per share) $ 0.60 $ 0.60 $ 0.56
Shares withheld for tax liabilities (in shares) 54,972 45,489 113,039
Treasury Stock      
Repurchases of common stock (in shares) 2,049,739 1,247,178 4,151,117
v3.25.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities:      
Net income $ 263,495 $ 269,025 $ 222,648
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 61,410 88,071 48,089
Depreciation of premises and equipment, net 13,875 17,508 24,152
Accretion of fees, premiums and discounts, net (24,207) (27,376) (28,378)
Amortization of intangible assets 15,680 15,527 18,401
Amortization of right of use lease asset 10,147 15,567 17,990
Decrease in operating lease liability (10,957) (12,417) (16,291)
Income from mortgage banking activities, net (7,565) (4,799) (7,271)
Loss (gain) on sale of other real estate owned and valuation adjustments, net 296 195 (221)
Stock-based compensation expense 11,901 9,605 6,349
Unrealized gains on equity investments, net 0 (329) (5,980)
Realized gain on sale of equity investment, net (2,309) (9,493) 0
Deferred income tax benefit (8,162) (5,397) (4,005)
Decrease (increase) in accrued interest receivable 1,308 (11,531) (22,151)
Increase in other assets (106,041) (2,185) (58,852)
Origination of loans held-for-sale (393,408) (280,826) (527,684)
Proceeds from sales of loans held-for-sale 319,658 198,920 501,186
(Decrease) increase in accrued interest payable (8,511) 41,510 1,196
Increase (decrease) in other liabilities 85,291 (60,781) 315,065
(Increase) decrease in value of bank-owned life insurance (531) (2,053) (1,311)
Increase in capitalized interest, net (1,471) (1,738) (2,078)
Net cash provided by operating activities 219,899 237,003 480,854
Investing activities:      
Purchases of investment securities held to maturity 0 0 (120,868)
Repayments, maturities and calls of investment securities held to maturity 61,332 72,966 66,186
Purchases of investment securities available-for-sale (67,433) (27,689) (1,218,022)
Repayments of investment securities available-for-sale 350,388 354,783 1,015,603
Proceeds from bank-owned life insurance death benefit 112 3,772 1,437
Proceeds from bank-owned life insurance surrender 6,616 51,981 0
Net proceeds from sale of equity investments 0 17,946 0
Net cash (paid for) from business combinations 0 (3,000) 573,745
Net increase in loans and leases (138,250) (486,819) (41,324)
Purchases of loans held for investment (269,635) (313,363) (393,159)
Purchases of FHLB stock (432,919) (134,279) (51,518)
Redemption of FHLB stock 436,512 142,997 36,207
Sales of assets acquired through foreclosure, net 803 833 1,964
Sale of premise and equipment 0 17 1,191
Investment in premises and equipment, net (14,258) (6,406) (8,809)
Net cash used in investing activities (66,732) (326,261) (137,367)
Financing activities:      
Net increase (decrease) in demand and saving deposits 263,007 (358,115) (1,123,468)
Increase (decrease) in time deposits 346,329 681,484 (94,251)
(Decrease) increase in brokered deposits (51,676) (70,915) 61,705
Receipts from FHLB advances 13,037,879 7,195,000 1,873,100
Repayments of FHLB advances (12,986,839) (7,545,000) (1,523,100)
Receipts from federal funds purchased 1,525,001 7,713,000 2,730,001
Repayments of federal funds purchased (1,525,001) (7,713,000) (2,730,001)
Receipts from Bank Term Funding Program 235,000 565,000 0
Repayments of Bank Term Funding Program (800,000) 0 0
Distributions to noncontrolling shareholders (3,299) (4,463) (504)
Cash dividend (35,805) (36,742) (35,746)
Issuance of common stock and exercise of common stock options 466 3,298 3,179
Redemption of senior and subordinated debt 0 (30,000) 0
Repurchase of common shares (96,311) (54,647) (200,083)
Net cash (used in) provided by financing activities (91,249) 344,900 (1,039,168)
Increase (decrease) in cash, cash equivalents, and restricted cash 61,918 255,642 (695,681)
Cash, cash equivalents, and restricted cash at beginning of period 1,092,900 837,258 1,532,939
Cash, cash equivalents, and restricted cash at end of period 1,154,818 1,092,900 837,258
Supplemental disclosure of cash flow information:      
Cash paid for interest during the period 366,655 209,909 36,487
Cash paid for income taxes, net 82,122 99,136 58,148
Non-cash information:      
Loans transferred to other real estate owned 4,438 1,569 630
Loans transferred to portfolio from held-for-sale at fair value 57,813 96,312 97,848
Securities transferred to held-to-maturity from available-for-sale at fair value 0 0 931,421
Receivable for bank-owned life insurance surrender proceeds 0 4,731 0
Receivable for bank-owned life insurance death benefit proceeds 0 742 0
Premises & equipment transferred to held-for-sale 18,839 0 0
Fair value of assets acquired, net of cash received 0 7,993 4,713,544
Fair value of liabilities assumed $ 0 $ 4,993 $ 4,379,273
v3.25.0.1
BASIS OF PRESENTATION
 12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
BASIS OF PRESENTATION
1. BASIS OF PRESENTATION
General
WSFS Financial Corporation (the Company or WSFS) is a savings and loan holding company organized under the laws of the State of Delaware. Substantially all of the Company's assets are held by its subsidiary, Wilmington Savings Fund Society, FSB (WSFS Bank or the Bank), a federal savings bank organized under the laws of the United States (U.S.).
The Consolidated Financial Statements include the accounts of the Company, WSFS Bank, The Bryn Mawr Trust Company of Delaware (BMT-DE), Bryn Mawr Capital Management, LLC (BMCM), WSFS Wealth Management, LLC (Powdermill®), WSFS SPE Services, LLC, and 601 Perkasie, LLC. The Company also has three unconsolidated subsidiaries, WSFS Capital Trust III (the Trust), Royal Bancshares Capital Trust I, and Royal Bancshares Capital Trust II. WSFS Bank has two wholly-owned subsidiaries: Beneficial Equipment Finance Corporation (BEFC) and 1832 Holdings, Inc., and one majority-owned subsidiary, NewLane Finance Company (NewLane Finance®).
Overview
Founded in 1832, the Bank is one of the ten oldest bank and trust companies continuously operating under the same name in the U.S. The Company provides residential and commercial mortgage, commercial and consumer lending services, as well as retail deposit and treasury management services. The Company's core banking business is commercial lending funded primarily by customer-generated deposits. In addition, the Company offers a variety of wealth management and trust services to individual, corporate and institutional clients. The Federal Deposit Insurance Corporation (FDIC) insures the Company's Clients’ deposits to their legal maximums. The Company serves its Clients primarily from 114 offices located in Pennsylvania (57), Delaware (39), New Jersey (14), Florida (2), Nevada (1) and Virginia (1), its ATM network, website at www.wsfsbank.com, and mobile app. Information on the Company's website is not incorporated by reference into this Annual Report on Form 10-K.
The Company's leasing business is conducted by NewLane Finance®. NewLane Finance® originates small business leases and provides commercial financing to businesses nationwide, targeting various equipment categories including technology, software, office, medical, veterinary and other areas. In addition, NewLane Finance® offers captive insurance through its subsidiary, Prime Protect.
Basis of Presentation
The Consolidated Financial Statements are prepared in conformity with accounting principles generally accepted in the U.S. (GAAP). In preparing the Consolidated Financial Statements, the Company is required to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Although the Company's estimates contemplate current conditions and how it expects them to change in the future, it is reasonably possible that actual conditions in 2025 could be worse than anticipated in those estimates, which could materially affect its results of operations and financial condition. The accounting for the allowance for credit losses (including loans and leases held for investment, investment securities available-for-sale and held-to-maturity), loans held for sale, lending-related commitments, goodwill, intangible assets, post-retirement benefit obligations, the fair value of financial instruments, and income taxes are subject to significant estimates. Among other effects, changes to these estimates could result in future impairments of investment securities, goodwill and intangible assets, the establishment of additional allowance and lending-related commitment reserves, changes in the fair value of financial instruments, as well as increased post-retirement benefits and income tax expense.
All significant intercompany accounts and transactions were eliminated in consolidation.
v3.25.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES
Cash, Cash Equivalents and Restricted Cash
For purposes of reporting cash flows, cash, cash equivalents and restricted cash include cash, cash in non-owned ATMs, amounts due from banks, federal funds sold and securities purchased under agreements to resell and cash collateral held for derivatives, including a financial derivative related to the sale of certain Visa Class B shares.
Debt Securities
Debt securities mostly include mortgage-backed securities (MBS), municipal bonds, and U.S. government and agency securities and are classified into one of the following three categories and accounted for as follows:

•Securities purchased with the intent of selling them in the near future are classified as “trading” and reported at fair value, with unrealized gains and losses included in earnings.
•Securities purchased with the positive intent and ability to hold to maturity are classified as “held to maturity” and reported at amortized cost.
•Securities not classified as either trading or held to maturity are classified as “available-for-sale” and reported at fair value, with unrealized gains and losses excluded from earnings and reported, net of tax, as a separate component of stockholders’ equity in accumulated other comprehensive income (loss).

Realized gains and losses are determined using the specific identification method and included on the Consolidated Statements of Income. All sales are made without recourse.
The fair value of debt securities is primarily obtained from third-party pricing services. Implicit in the valuation of MBS are estimated prepayments based on historical and current market conditions.
Premiums and discounts on MBS collateralized by residential 1-4 family loans are recognized in interest income using a level yield method over the period to expected maturity. Premiums and discounts on all other securities are recognized on a straight-line basis over the period to expected maturity, with the exception of premiums on callable debt securities, which are recognized over the period to the earliest call date.
A debt security is placed on nonaccrual status at the time any principal or interest payments are contractually past due 90 days or more. Interest accrued but not received for a security placed on nonaccrual status is reversed against interest income.
The Company's investment portfolio is reviewed each quarter for indications of potential credit losses. Refer to the respective held-to-maturity and available-for-sale debt securities sections for the allowance for credit loss policies for each portfolio.
Allowance for Credit Losses - Held-to-Maturity Debt Securities
The Company follows Accounting Standards Codification (ASC) 326-20, Financial Instruments - Credit Loss - Measured at Amortized Cost, to measure expected credit losses on held-to-maturity debt securities on a collective basis by security investment grade. The estimate of expected credit losses considers historical credit loss information adjusted by a security's credit rating.
The Company classifies the held-to-maturity debt securities into the following major security types: mortgage backed securities and state and political subdivisions. These securities are highly rated with a history of no credit losses, and are assigned ratings based on the most recent data from ratings agencies depending on the availability of data for the security. Credit ratings of held-to-maturity debt securities, which are a significant input in calculating the expected credit loss, are reviewed on a quarterly basis.
Accrued interest receivable on held-to-maturity debt securities is excluded from the estimate of credit losses and is included in Accrued interest receivable on the Consolidated Statements of Financial Condition.
Allowance for Credit Losses - Available-for-Sale Debt Securities
The Company follows ASC 326-30, Financial Instruments - Credit Loss - Available-for-Sale Debt Securities, which provides guidance related to the recognition of and expanded disclosure requirements for expected credit losses on available-for-sale debt securities. For available-for-sale debt securities in an unrealized loss position, the Company first evaluates whether it intends to sell, or if it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either criterion is met, the security's amortized cost basis is reduced to fair value and recognized as a reduction to Noninterest income in the Consolidated Statements of Income.
For debt securities available-for-sale in which the Company does not intend to sell, or it is not likely the security would be required to be sold before recovery, it evaluates whether a decline in fair value has resulted from credit losses or other adverse factors, such as a change in the security's credit rating. In assessing whether a credit loss exists, the Company compares the present value of cash flows expected to be collected from the security with the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance is recorded, limited to the fair value of the security.
The Company performs these analyses on a quarterly basis to review the conditions and risks associated with the individual securities. Credit losses on an impaired security is measured using the present value of expected future cash flows. Any impairment not recorded through an allowance for credit loss is included in other comprehensive income (loss), net of the tax effect. The Company is required to use its judgment in determining impairment in certain circumstances.
For additional detail regarding debt securities, see Note 5.
Equity Investments
The Company has equity investments that are accounted for in accordance with both ASC 321-10, Investments - Equity Securities and ASC 323-10, Investments - Equity Method and Joint Ventures. Our equity investments are recorded in Other investments on the Consolidated Statements of Financial Condition.
Equity investments recorded in accordance with ASC 321-10 are classified into one of the following two categories and accounted for as follows:
•Investments with a readily determinable fair value are reported at fair value, with unrealized gains and losses included in earnings. Any dividends received are recorded in interest income.
•Investments without a readily determinable fair value are reported at cost less impairment, if any, plus or minus adjustments resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer. Any dividends received are recorded in interest income.
For equity investments without readily determinable fair values, when an orderly transaction for the identical or similar investment of the same issuer is identified, the Company uses valuation techniques permitted under ASC 820, Fair Value Measurement, to evaluate the observed transaction(s) and adjust the carrying value.
ASC 321-10 also provides impairment accounting guidance for equity investments without readily determinable fair values. The qualitative assessment to determine whether impairment exists requires the use of the Company's judgment. If, after completing the qualitative assessment, the Company concludes an equity investment without a readily determinable fair value is impaired, a loss for the difference between the equity investment’s carrying value and its fair value may be recognized as a reduction to noninterest income in the Consolidated Statements of Income.
Equity investments recorded in accordance with ASC 323-10 are initially recorded at cost based on the Company’s percentage ownership in the investee. Subsequently, the carrying amount of the investment is adjusted to reflect the recognition of the Company’s proportionate share of income or loss of the investee based on the investee’s earnings for the reporting period, recorded on a one-quarter lag.
The Company assesses its equity method investments for impairment using ASC 323-10 guidance. The qualitative assessment to determine whether impairment exists requires the use of the Company’s judgment. If, after completing the qualitative assessment, the Company concludes an equity method investment is impaired, a loss for the difference between the equity investment’s carrying value and its fair value may be recognized in Unrealized gains on equity investments, net on the Consolidated Statements of Income. After an impairment charge is recorded, the new cost basis cannot be subsequently written up to a higher value as a result of increases in fair value.
For additional detail regarding equity securities, see Note 5.
Loans and leases
Loans and leases held for investment are recorded at amortized cost, net of allowance for credit losses. Amortized cost is the amount at which a financial asset is originated or acquired, adjusted for the amortization of premium and discount, net deferred fees or costs, collection of cash, and write-offs. Interest income on loans is recognized using the level yield method. Loan origination fees, commitment fees and direct loan origination costs are deferred and recognized over the life of the related loans using a level yield method over the period to maturity.
Past Due and Nonaccrual Loans
Past due loans are defined as loans contractually past due 90 days or more as to principal or interest payments. Past due loans 90 days or more that remain in accrual status are considered well secured and in the process of collection.
Nonaccruing loans are those on which the accrual of interest has ceased. Loans are placed on nonaccrual status immediately if, in the opinion of the Company, collection is doubtful, or when principal or interest is past due 90 days or more and the loan is not well secured and in the process of collection. Interest accrued but not collected at the date a loan is placed on nonaccrual status is reversed and charged against interest income. In addition, the amortization of net deferred loan fees is suspended when a loan is placed on nonaccrual status. Subsequent cash receipts are applied either to the outstanding principal balance or recorded as interest income, depending on the Company’s assessment of the ultimate collectability of principal and interest. Loans are returned to accrual status when the Company assesses that the borrower has the ability to make all principal and interest payments in accordance with the terms of the loan (i.e., a consistent repayment record, generally six consecutive payments, has been demonstrated).
For loans greater than 90 days past due, unless loans are well-secured and collection is imminent, their respective reserves are generally charged off once the loss has been confirmed. Expected recoveries do not exceed the aggregate of amounts previously charged off.
A loan, for which the terms have been modified in the form of principal forgiveness, an interest rate reduction, an other than-insignificant payment delay, or a term extension to a borrower experiencing financial difficulty, is considered a troubled loan. The assessment of whether a borrower is experiencing financial difficulty is made on the date of a modification.
Principal balances are generally not forgiven when a loan is modified as a troubled loan. Nonaccruing troubled loans remain in nonaccrual status until there has been a period of sustained repayment performance demonstrated and repayment is reasonably assured. Since the effect of most troubled loans are already included in the Company’s estimate of expected credit losses, a change to the allowance for credit losses is generally not recorded upon modification.
For additional detail regarding past due and nonaccrual loans, see Note 7.
Allowance for Credit Losses - Loans and Leases
The Company establishes its allowance in accordance with guidance provided in ASC 326, Financial Instruments - Credit Losses. The allowance for credit losses includes quantitative and qualitative factors that comprise the Company's current estimate of expected credit losses, including the Company's portfolio mix and segmentation, modeling methodology, historical loss experience, relevant available information from internal and external sources relating to qualitative adjustment factors, prepayment speeds and reasonable and supportable forecasts about future economic conditions.
The Company's portfolio segments, established based on similar risk characteristics and loss behaviors, are:
•Commercial Loans and Leases: Commercial and industrial - real estate secured, commercial and industrial - non-real estate secured, owner-occupied commercial, commercial mortgages, construction and commercial small business leases, and
•Residential and Consumer Loans: Residential mortgage, equity secured lines and loans, installment loans, unsecured lines of credit, originated education loans and previously acquired education loans.
Expected credit losses are net of expected recoveries and estimated over the contractual term, adjusted for expected prepayments. The contractual term excludes any extensions, renewals and modifications unless they are not unconditionally cancellable. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. Expected prepayments are based on historical experience and considers adjustments for current and future economic conditions.
The allowance includes two primary components: (i) an allowance established on loans which share similar risk characteristics collectively evaluated for credit losses (collective basis) and (ii) an allowance established on loans which do not share similar risk characteristics with any loan segment and are individually evaluated for credit losses (individual basis).
Loans that share similar risk characteristics are collectively reviewed for credit loss and are evaluated based on historical loss experience, adjusted for current economic conditions and future economic forecasts. Estimated losses are determined differently for commercial and residential and consumer loans, and each commercial segment is further segmented by internally assessed risk ratings.
The Company uses a single scenario third-party economic forecast to adjust the calculated historical loss rates of the portfolio segments to incorporate the effects of current and future economic conditions. The Company's economic forecast considers the general health of the economy, the interest rate environment, real estate pricing and market risk. The Company's forecast extends out 6 quarters (the forecast period) and reverts to the historical loss rates on a straight-line basis over 4 quarters (the reversion period) as it believes this to be reasonable and supportable in the current environment. The economic forecast and reversion periods will be evaluated periodically by the Company and updated as appropriate.
The historical loss rates for commercial loans are estimated by determining the probability of default (PD) and expected loss given default (LGD) and are applied to the loans' exposure at default. The probability of default is calculated based on the historical rate of migration to an event of credit loss during the look-back period. The historical loss rates for consumer loans are calculated based on average net loss rates over the same look-back period. The current look-back period is 56 quarters which ensures historical loss rates are adequately considering losses within a full credit cycle.
Loans that do not share similar risk characteristics with any loan segments are evaluated on an individual basis. These loans, which may include troubled loans, are not included in the collective basis evaluation. When it is probable the Company will not collect all principal and interest due according to their contractual terms, which is assessed based on the credit characteristics of the loan and/or payment status, these loans are individually reviewed and measured for potential credit loss.
The amount of the potential credit loss is measured using any of the following three methods: (i) the present value of expected future cash flows discounted at the loan’s effective interest rate; (ii) the fair value of collateral if the loan is collateral dependent; or (iii) the loan’s observable market price. If the measured fair value of the loan is less than the amortized cost basis of the loan, an allowance for credit loss is recorded.
For collateral dependent loans, the expected credit losses at the individual asset level are the difference between the collateral's fair value (less cost to sell) and the amortized cost.
Qualitative adjustment factors consider various internal and external conditions which are allocated among loan segments and take into consideration:
•Current underwriting policies, staffing and portfolio concentrations,
•Risk rating accuracy and credit administration,
•Internal risk emergence (including internal trends of delinquency, and criticized loans by segment),
•Economic forecasts and conditions - locally and nationally (including market trends impacting collateral values), which is separate from or in addition to the third-party economic forecast described above, and
•Competitive environment, as it could impact loan structure and underwriting.
These factors are based on their relative standing compared to the period in which historical losses are used in quantitative reserve estimates and current directional trends, and reasonable and supportable forecasts. Qualitative factors can add to or subtract from quantitative reserves.
The Company's loan officers and risk managers meet at least quarterly to discuss and review the conditions and risks associated with individual problem loans. In addition, various regulatory agencies periodically review the Company's loan ratings and allowance for credit losses and the Bank's internal loan review department performs recurring loan reviews.
Accrued interest receivable on loans is excluded from the estimate of credit losses and is included in Accrued interest receivable on the Consolidated Statements of Financial Condition.
For additional detail regarding the allowance for credit losses and the provision for credit losses, see Note 7.
Unfunded Lending Commitments
For unfunded lending commitments, the Company estimates expected credit losses over the contractual period in which the Company is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Company. The estimate includes consideration of the probability of default and utilization rate at default to calculate expected credit losses on commitments expected to be funded based on historical losses.
The allowance for credit losses for off-balance sheet exposures is included in Other liabilities on the Consolidated Statements of Financial Condition and the provision for credit losses for off-balance sheet exposure is included in Loan workout and other credit costs on the Consolidated Statements of Income.
For additional detail regarding unfunded lending commitments, see Note 17.
Loans Held for Sale
Mortgage loans held for sale are recorded at fair value on a loan level basis, using pricing information obtained from secondary markets and brokers and applied to loans with similar interest rates and maturities.
Other loans held for sale are carried at the lower of amortized cost or estimated fair value. The estimated fair value is based on pricing information from secondary markets and brokers, when available, or a discounted cash flow analysis when market information is unavailable.
Other Real Estate Owned
Upon initial receipt, other real estate owned (OREO) is recorded at the estimated fair value less costs to sell. Costs subsequently incurred to improve the assets are capitalized, provided that the resultant carrying value does not exceed the estimated fair value less costs to sell. Costs related to holding or disposing of the assets are charged to expense as incurred. The Company periodically evaluates OREO for impairment and write-down the value of the asset when declines in fair value below the carrying value are identified. Loan workout and other credit costs include costs of holding and operating the assets, net gains or losses on sales of the assets and provisions for losses to reduce such assets to the estimated fair values less costs to sell.
For additional detail regarding other real estate owned, see Note 7.
Premises, Equipment and Software
Premises and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization expense are computed on a straight-line basis over the estimated useful lives of the assets or, for leasehold improvements, over the terms of the related lease or effective useful lives of the assets, whichever is less. In general, computer equipment, furniture and equipment and building renovations are depreciated over three, five and ten years, respectively. Software, which includes purchased or externally hosted software is recorded in Other assets and is amortized on a straight-line basis over the lesser of the contract term or estimated useful life of the software.
Maintenance and repairs are expensed as incurred, while costs of major replacements, improvements and additions are capitalized.
Premises and equipment acquired in business combinations are initially recorded at fair value and subsequently carried at cost less accumulated depreciation and amortization. Assets to be disposed of are recorded at the lower of the carrying amount or fair value less costs to sell.
For additional detail regarding premises and equipment, see Note 8.
Goodwill and Intangible Assets
The Company accounts for goodwill and intangible assets in accordance with ASC 805, Business Combinations and ASC 350, Intangibles-Goodwill and Other. Accounting for goodwill and other intangible assets requires the Company to make significant judgments, for goodwill particularly, with respect to estimating the fair value of each reporting unit. The estimates utilize historical data, cash flows, and market and industry data specific to each reporting unit as well as projected data. Industry and market data are used to develop material assumptions such as transaction multiples, required rates of return, control premiums, long-term growth rates, and capitalization.
Goodwill is not amortized, rather it is subject to periodic impairment testing. The Company reviews goodwill for impairment annually on October 1 and more frequently if events and circumstances indicate that the fair value of a reporting unit is less than its carrying value. Other intangible assets with finite lives are amortized over their estimated useful lives. The Company reviews other intangible assets with finite lives for impairment if events and circumstances indicate that the carrying value may not be recoverable. For additional information regarding goodwill and intangible assets, see Note 10.
Leases
The Company accounts for its leases in accordance with ASC 842 - Leases. Most leases are recognized on the balance sheet by recording a right-of-use asset and lease liability for each lease. The right-of-use asset represents the right to use the asset under lease for the lease term, and the lease liability represents the contractual obligation to make lease payments. The right-of-use asset is tested for impairment whenever events or changes in circumstances indicate the carrying amount may not be recoverable.
As a lessee, the Company enters into operating leases for certain bank branches, office space, and office equipment. The right-of-use assets and lease liabilities are initially recognized based on the net present value of the remaining lease payments which include renewal options where the Company is reasonably certain they will be exercised. The net present value is determined using the incremental collateralized borrowing rate at commencement date. The right-of-use asset is measured at the amount of the lease liability adjusted for any prepaid rent, lease incentives and initial direct costs incurred. The right-of-use asset and lease liability is amortized over the individual lease terms. Lease expense for lease payments is recognized on a straight-line basis over the lease term.
As a lessor, the Company provides direct financing to clients through the Company's equipment and small-business leasing business. Direct financing leases are recorded at the aggregate of minimum lease payments net of unamortized deferred lease origination fees and costs and unearned income. Interest income on direct financing leases is recognized over the term of the lease. Origination fees and costs are deferred, and the net amount is amortized to interest income over the estimated life of the lease. For additional information regarding leases, see Note 9.
Derivative Financial Instruments
The Company accounts for derivatives in accordance with ASC 815, Derivatives and Hedging. Derivatives are recognized as either assets or liabilities at fair value in the Consolidated Statements of Financial Condition with changes in fair value recorded to earnings or accumulated other comprehensive income, as appropriate. At the inception of a derivative contract, the Company designates the derivative as a hedging or non-hedging instrument. To qualify for hedge accounting, derivatives must be highly effective at reducing the risk associated with the exposure being hedged and must be designated as a hedge at the inception of the derivative contract. For fair value hedges, changes to the fair value are recorded in earnings, while for cash flow hedges, fair value changes are recorded in accumulated other comprehensive income and subsequently reclassified into earnings in the period that the hedged forecast transaction affects earnings. The ineffective portion of a hedge’s change in fair value is recognized in earnings immediately. For derivatives not designated as hedges, adjustments to fair value are recorded through earnings. For additional detail regarding derivatives, see Note 19.
Income Taxes
The provision for income taxes includes federal, state and local income taxes currently payable and those deferred due to temporary differences between the financial statement basis and tax basis of assets and liabilities. Income taxes are accounted for in accordance with ASC 740, Income Taxes. ASC 740 requires the recording of deferred income taxes that reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. It prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. Benefits from tax positions are recognized in the financial statements only when it is more-likely-than-not that the tax position will be sustained upon examination by the appropriate taxing authority that would have full knowledge of all relevant information.
A tax position that meets the more-likely-than-not recognition threshold is measured at the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. Tax positions that previously failed to meet the more-likely-than-not recognition threshold are recognized in the first subsequent financial reporting period in which that threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not recognition threshold are derecognized in the first subsequent financial reporting period in which that threshold is no longer met. ASC 740 also provides guidance on the accounting for and disclosure of unrecognized tax benefits, interest and penalties. For additional detail regarding income taxes, see Note 15.
Securities Sold Under Agreements to Repurchase
The Company enters into sales of securities under agreements to repurchase which are treated as financings, with the obligation to repurchase securities sold reflected as a liability in the Consolidated Statements of Financial Condition. The securities underlying the agreements are assets. For additional detail regarding the securities sold under agreements to repurchase, see Note 12.
Stock-Based Compensation
Stock-based compensation is accounted for in accordance with ASC 718, Stock Compensation. Compensation expense relating to all share-based payments is recognized on a straight-line basis, over the applicable vesting period. For additional detail regarding stock-based compensation, see Note 16.
RECENT ACCOUNTING PRONOUNCEMENTS
The following accounting pronouncement was adopted by the Company during the year ended December 31, 2024:

ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07): ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07): ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07): In November 2023, the FASB issued ASU 2023-07 to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss. The Company adopted this ASU on a retrospective basis for its annual period ending December 31, 2024 and for the interim period beginning January 1, 2025.

For further details on the impact of the adoption, see segment information disclosures in Note 21.
The following accounting pronouncements were adopted by the Company during the year ended December 31, 2024, but do not have a material impact on the Consolidated Financial Statements:
•ASU No. 2023-01, Leases (Topic 842) — Common Control Agreements
•ASU No. 2023-02, Investments — Equity Method and Joint Ventures (Topic 323) Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method
There were no other applicable material accounting pronouncements adopted by the Company since December 31, 2023.
Accounting Guidance Pending Adoption as of December 31, 2024
ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09): In December 2023, the FASB issued ASU 2023-09 to enhance the transparency and decision usefulness of income tax disclosures primarily related to the effective tax rate reconciliation and income taxes paid. The amendments are effective for fiscal years beginning after December 15, 2024. Adoption is permitted on either a prospective or retrospective basis and the Company is currently evaluating this update to determine the impact on the Company’s disclosures.

ASU No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (ASU 2024-03): In November 2024, the FASB issued ASU 2024-03, which requires entities to disclose disaggregated information about certain income statement expense line items in the notes to their financial statements on an annual and interim basis. Subsequently, in January 2025, the FASB issued ASU 2025-01—Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date, making ASU 2024-03 effective for fiscal years beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027, on a retrospective or prospective basis, with early adoption permitted. The Company is currently evaluating this update to determine the impact on the Company’s disclosures.

ASU No. 2024-04, Debt—Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments (ASU 2024-04): In November 2024, the FASB issued ASU 2024-04 which clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion or extinguishment of convertible debt. The new guidance is effective for annual reporting periods beginning after December 15, 2025, and interim periods within those annual periods. The Company is currently evaluating the impact upon adoption and will apply the guidance after completion of its assessment.
v3.25.0.1
NONINTEREST INCOME
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
NONINTEREST INCOME
3. NONINTEREST INCOME
Credit/debit card and ATM income
The following table presents the components of credit/debit card and ATM income:
Twelve Months Ended December 31,
(Dollars in thousands)202420232022
Bailment fees$68,988 $40,096 $21,173 
Interchange fees15,822 15,684 15,506 
Other card and ATM fees3,900 3,938 3,409 
Total credit/debit card and ATM income$88,710 $59,718 $40,088 
Credit/debit card and ATM income is composed of bailment fees, interchange fees, and other card and ATM fees. Bailment fees are earned from bailment arrangements with clients. Bailment arrangements are legal relationships in which property is delivered to another party without a transfer of ownership. The party who transferred the property (the bailor) retains ownership interest of the property. In the event that the bailee files for bankruptcy protection, the property is not included in the bailee's assets. The bailee pays an agreed-upon fee for the use of the bailor's property in exchange for the bailor allowing use of the assets at the bailee's site. Bailment fees are earned from cash that is made available for clients' use at an offsite location, such as cash located in an ATM at a client's place of business. These fees are typically indexed to a market interest rate. This revenue stream generates fee income through monthly billing for bailment services.
Credit/debit card and ATM income also includes interchange fees. Interchange fees are paid by a merchant's bank to a bank that issued a debit or credit card used in a transaction to compensate the issuing bank for the value and benefit the merchant receives from accepting electronic payments. These revenue streams generate fee income at the time a transaction occurs and are recorded as revenue at the time of the transaction.
Investment management and fiduciary income
The following table presents the components of investment management and fiduciary income:
Twelve Months Ended December 31,
(Dollars in thousands)202420232022
Trust fees$101,514 $89,396 $79,472 
Wealth management and advisory fees45,431 41,654 42,136 
Total investment management and fiduciary income$146,945 $131,050 $121,608 
Investment management and fiduciary income is composed of trust fees and wealth management and advisory fees. Trust fees are based on revenue earned from custody, escrow, trustee and trustee related services on structured finance transactions; indenture trustee, administrative agent and collateral agent services to individuals, institutions and corporations; commercial domicile and independent director services; and investment and trustee services to families and individuals. Most fees are flat fees, except for a portion of personal and corporate trustee fees where the Company earns a percentage on the assets under management or assets held within a trust. This revenue stream primarily generates fee income through monthly, quarterly and annual billings for services provided.
Wealth management and advisory fees consists of fees from Bryn Mawr Trust®, BMCM, Powdermill®, and WSFS Wealth® Investments. Wealth management and advisory fees are based on revenue earned from services including asset management, financial planning, family office, and brokerage. The fees are based on the market value of assets, are assessed as a flat fee, or are brokerage commissions. This revenue stream primarily generates fee income through monthly, quarterly and annual billings for the services.
Deposit service charges
The following table presents the components of deposit service charges:
Twelve Months Ended December 31,
(Dollars in thousands)202420232022
Service fees$18,166 $17,182 $16,019 
Return and overdraft fees7,255 7,127 7,651 
Other deposit service fees1,243 1,084 814 
Total deposit service charges$26,664 $25,393 $24,484 
Deposit service charges includes revenue earned from core deposit products, certificates of deposit, and brokered deposits. The Company generates fee revenues from deposit service charges primarily through service charges and overdraft fees. Service charges consist primarily of monthly account maintenance fees, treasury management fees, foreign ATM fees and other maintenance fees. All of these revenue streams generate fee income through service charges for monthly account maintenance and similar items, transfer fees, late fees, overlimit fees, and stop payment fees. Revenue is recorded at the time of the transaction.
Other income
The following table presents the components of other income:
Twelve Months Ended December 31,
(Dollars in thousands)202420232022
Managed service fees$21,237 $20,503 $17,991 
Currency preparation7,392 5,429 4,120 
ATM loss protection3,113 2,651 2,627 
Capital Markets revenue11,864 11,847 7,859 
Miscellaneous products and services(1)
13,716 8,299 20,027 
Total other income$57,322 $48,729 $52,624 
(1)Includes commissions income from BMTIA in 2022. The BMTIA business was sold during the second quarter of 2022.
Other income consists of managed service fees, which are primarily courier fees related to treasury management and are partially offset in noninterest expense, currency preparation, ATM loss protection, Capital Markets revenue, and other miscellaneous products and services offered by the Bank. These fees are primarily generated through monthly billings or at the time of the transaction. Capital Markets revenue consists of fees related to interest rate swaps, risk participation agreements, foreign exchange contracts, letters of credit, and trade finance products and services offered by the Bank.
Arrangements with multiple performance obligations
The Company's contracts with clients may include multiple performance obligations. For such arrangements, the Company allocates revenue to each performance obligation based on its relative standalone selling price. The Company generally determines standalone selling prices based on the prices charged to clients.
Practical expedients and exemptions
The Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which the Company recognizes revenue at the amount to which it has the right to invoice for services performed.
See Note 21 for further information about the disaggregation of noninterest income by segment.
v3.25.0.1
EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
4. EARNINGS PER SHARE
The following table shows the computation of basic and diluted earnings per share:
 
(Dollars and shares in thousands, except per share data)202420232022
Numerator:
Net income attributable to WSFS$263,671 $269,156 $222,375 
Denominator:
Weighted average basic shares59,547 61,108 63,453 
Dilutive potential common shares192 113 206 
Weighted average fully diluted shares59,739 61,221 63,659 
Earnings per share:
Basic$4.43 $4.40 $3.50 
Diluted$4.41 $4.40 $3.49 
Outstanding common stock equivalents having no dilutive effect2 14 9 

Basic earnings per share is calculated by dividing Net income attributable to WSFS by the weighted-average basic shares outstanding. Diluted earnings per share is calculated by dividing Net income attributable to WSFS by the weighted-average fully diluted shares outstanding, using the treasury stock method. Fully diluted shares include the adjustment for the dilutive effect of common stock awards, which include outstanding stock options under the 2013 Incentive Plan and the 2018 Incentive Plan and unvested restricted stock units and performance stock units under the 2018 Incentive Plan.
v3.25.0.1
INVESTMENT SECURITIES
 12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
INVESTMENT SECURITIES
5. INVESTMENT SECURITIES
The following tables detail the amortized cost, allowance for credit losses and the estimated fair value of the Company's investments in available-for-sale and held-to-maturity debt securities. None of the Company's investments in debt securities are classified as trading.
December 31, 2024
(Dollars in thousands)
Amortized
Cost
Gross
Unrealized
Gain
Gross
Unrealized
Loss
Allowance for
Credit Losses
Fair
Value
Available-for-Sale Debt Securities
Collateralized mortgage obligations (CMO)$526,796 $113 $95,967 $— $430,942 
Fannie Mae (FNMA) mortgage-backed securities (MBS)3,305,418 172 550,011 — 2,755,579 
Freddie Mac (FHLMC) MBS118,605 — 13,091 — 105,514 
Ginnie Mae (GNMA) MBS44,578 — 3,902 — 40,676 
Government-sponsored enterprises (GSE) agency notes222,869 — 44,932 — 177,937 
$4,218,266 $285 $707,903 $— $3,510,648 
Held-to-Maturity Debt Securities(1)
FNMA MBS$831,325 $— $116,600 $— $714,725 
State and political subdivisions183,843 247 3,297 7 180,786 
$1,015,168 $247 $119,897 $7 $895,511 
(1)Held-to-maturity securities transferred from available-for-sale are included in held-to-maturity at amortized cost basis at the time of transfer. The amortized cost of transferred held-to-maturity securities included net unrealized losses of $100.5 million at December 31, 2024, which are offset in Accumulated other comprehensive loss. At the time of transfer, there was no allowance for credit loss on the available-for-sale securities. Subsequent to transfer, the securities were evaluated for credit loss.
December 31, 2023
(Dollars in thousands)
Amortized
Cost
Gross
Unrealized
Gain
Gross
Unrealized
Loss
Allowance for
Credit Losses
Fair
Value
Available-for-Sale Debt Securities
CMO$560,952 $— $96,333 $— $464,619 
FNMA MBS3,544,762 162 502,574 — 3,042,350 
FHLMC MBS126,856 — 11,324 — 115,532 
GNMA MBS46,333 6 2,999 — 43,340 
GSE agency notes225,439 — 44,743 — 180,696 
$4,504,342 $168 $657,973 $— $3,846,537 
Held-to-Maturity Debt Securities(1)
FNMA MBS$872,653 $— $74,332 $— $798,321 
State and political subdivisions185,912 2,665 959 8 187,610 
$1,058,565 $2,665 $75,291 $8 $985,931 
(1)Held-to–maturity securities transferred from available-for-sale are included in held-to-maturity at amortized cost basis at the time of transfer. The amortized cost of transferred held-to-maturity securities included net unrealized losses of $120.4 million at December 31, 2023, which are offset in Accumulated other comprehensive loss. At the time of transfer, there was no allowance for credit loss on the available-for-sale securities. Subsequent to transfer, the securities were evaluated for credit loss.
The scheduled maturities of available-for-sale debt securities at December 31, 2024 and December 31, 2023 are presented in the table below:
  
Available-for-Sale
(Dollars in thousands)Amortized CostFair Value
December 31, 2024 (1)
Within one year$16,833 $16,698 
After one year but within five years147,157 138,870 
After five years but within ten years487,921 409,908 
After ten years3,566,355 2,945,172 
$4,218,266 $3,510,648 
December 31, 2023 (1)
Within one year$— $— 
After one year but within five years86,224 82,387 
After five years but within ten years569,956 485,593 
After ten years3,848,162 3,278,557 
$4,504,342 $3,846,537 
(1)Actual maturities could differ from contractual maturities.
As of December 31, 2024, the Company’s available-for-sale investment securities consisted of 991 securities, 976 of which were in an unrealized loss position.
As of December 31, 2024, substantially all of the Company’s available-for-sale investment securities were mortgage-backed securities or collateral mortgage obligations which were issued or guaranteed by U.S. government-sponsored entities and agencies. As of December 31, 2024 and December 31, 2023, there were no holdings of securities of any one issuer, other than the U.S. government and its agencies, in an amount greater than 10% of shareholders’ equity.
The scheduled maturities of held-to-maturity debt securities at December 31, 2024 and December 31, 2023 are presented in the table below:
  
Held-to-Maturity
(Dollars in thousands)Amortized CostFair Value
December 31, 2024 (1)
Within one year$— $— 
After one year but within five years16,727 16,444 
After five years but within ten years51,671 50,451 
After ten years946,770 828,616 
$1,015,168 $895,511 
December 31, 2023 (1)
Within one year$— $— 
After one year but within five years10,932 10,856 
After five years but within ten years46,489 46,246 
After ten years1,001,144 928,829 
$1,058,565 $985,931 
(1)Actual maturities could differ from contractual maturities.
MBS may have expected maturities that differ from their contractual maturities. These differences arise because issuers may have the right to call securities and borrowers may have the right to prepay obligations with or without prepayment penalty. The estimated weighted average duration of MBS was 5.9 years at December 31, 2024.
The held-to-maturity debt securities are not collateral-dependent securities as these are general obligation bonds issued by cities, states, counties, or other local and foreign governments.
Investment securities with fair market values aggregating $3.3 billion were pledged as collateral for investment sweep repurchase agreements, municipal deposits, and other obligations as of December 31, 2024 and December 31, 2023.
During the years ended December 31, 2024, December 31, 2023, and December 31, 2022, the Company had no sales of debt securities categorized as available-for-sale.
As of December 31, 2024 and December 31, 2023, the Company's debt securities portfolio had remaining unamortized premiums of $48.1 million and $56.9 million, respectively, and unaccreted discounts of $17.6 million and $20.9 million, respectively.
For debt securities in an unrealized loss position, the table below shows the gross unrealized losses and fair value by investment category and length of time that individual debt securities were in a continuous unrealized loss position at December 31, 2024.
 Duration of Unrealized Loss Position  
Less than 12 months12 months or longerTotal
(Dollars in thousands)
Fair
Value
Unrealized
Loss
Fair
Value
Unrealized
Loss
Fair
Value
Unrealized
Loss
Available-for-sale debt securities:
CMO$— $— $420,663 $95,967 $420,663 $95,967 
FNMA MBS46,971 525 2,691,778 549,486 2,738,749 550,011 
FHLMC MBS6 — 105,508 13,091 105,514 13,091 
GNMA MBS4,404 143 35,054 3,759 39,458 3,902 
GSE agency notes— — 177,937 44,932 177,937 44,932 
$51,381 $668 $3,430,940 $707,235 $3,482,321 $707,903 
For debt securities in an unrealized loss position, the table below shows the gross unrealized losses and fair value by investment category and length of time that individual debt securities were in a continuous unrealized loss position at December 31, 2023.
Duration of Unrealized Loss Position
 Less than 12 months12 months or longerTotal
FairUnrealizedFairUnrealizedFairUnrealized
(Dollars in thousands)ValueLossValueLossValueLoss
Available-for-sale debt securities:
CMO$— $— $464,619 $96,333 $464,619 $96,333 
FNMA MBS9,068 125 3,026,520 502,449 3,035,588 502,574 
FHLMC MBS— — 115,525 11,324 115,525 11,324 
GNMA MBS10,543 217 31,681 2,782 42,224 2,999 
GSE agency notes— — 180,696 44,743 180,696 44,743 
$19,611 $342 $3,819,041 $657,631 $3,838,652 $657,973 
At December 31, 2024, available-for-sale debt securities for which the amortized cost basis exceeded fair value totaled $3.5 billion. Total unrealized losses on these securities were $707.9 million at December 31, 2024. The Company assessed whether an allowance for credit losses was required on our available-for-sale debt securities and determined no allowance was necessary as of December 31, 2024 as (1) the Company currently does not have the intent to sell, nor is it more likely than not it will be required to sell these securities before it is able to recover the amortized cost basis and (2) the unrealized losses are the result of changes in market interest rates subsequent to purchase, not credit loss, as these are highly rated agency securities with no expected credit loss, in the event of a default.
At December 31, 2024 and December 31, 2023, held-to-maturity debt securities had an amortized cost basis of $1.0 billion and $1.1 billion, respectively. The held-to-maturity debt security portfolio primarily consists of mortgage-backed securities which were issued or guaranteed by U.S. government-sponsored entities and agencies and highly rated municipal bonds. The Company monitors credit quality of its debt securities through credit ratings.
The following table summarizes the amortized cost of debt securities held-to-maturity as of December 31, 2024, aggregated by credit quality indicator:
(Dollars in thousands)FNMA MBSState and political subdivisions
A+ rated or higher$— $183,843 
Not rated831,325 — 
Ending balance$831,325 $183,843 
The following table summarizes the amortized cost of debt securities held-to-maturity as of December 31, 2023, aggregated by credit quality indicator:
(Dollars in thousands)FNMA MBSState and political subdivisions
A+ rated or higher$— $185,912 
Not rated872,653 — 
Ending balance$872,653 $185,912 
The Company reviewed its held-to-maturity debt securities by major security type for potential credit losses. There was no activity in the allowance for credit losses for FNMA MBS debt securities for the twelve months ended December 31, 2024 and 2023. The following table presents the activity in the allowance for credit losses for state and political subdivisions debt securities for the twelve months ended December 31, 2024, 2023, and 2022:
Twelve months ended December 31,
(Dollars in thousands)202420232022
Allowance for credit losses:
Beginning balance$8 $10 $4 
Provision for credit losses(1)(2)6 
Ending balance$7 $8 $10 
Accrued interest receivable of $3.6 million and $3.7 million as of December 31, 2024 and December 31, 2023, respectively, for held-to-maturity debt securities were excluded from the evaluation of allowance for credit losses. There were no nonaccrual or past due held-to-maturity debt securities as of December 31, 2024 and December 31, 2023.
Equity Investments
The Company had equity investments with a fair value of $18.2 million and $17.4 million as of December 31, 2024 and December 31, 2023, respectively.
During the year ended December 31, 2024, total net gains on equity investments of $2.3 million were recorded, driven by an annual earnout distribution related to the Company's investment in Spring EQ presented within Realized gain on sale of equity investment, net in the Consolidated Statements of Income.
During the year ended December 31, 2023, total net gains on equity investments of $9.8 million were recorded, driven by a realized gain on the Company's investment in Spring EQ presented within Realized gain on sale of equity investment, net in the Consolidated Statements of Income. During the year ended December 31, 2023, the Company recognized $2.5 million of net gains related to our equity method investments within Other income on the Consolidated Statements of Income.
During the year ended December 31, 2022, total net gains on equity investments of $6.0 million were recorded, driven by an unrealized gain on the Company's investment in cred.ai presented within Unrealized gains on equity investment, net in the Consolidated Statements of Income. During the year ended December 31, 2022, the Company recognized $5.4 million of net gains related to our equity method investments within Other income on the Consolidated Statements of Income.
v3.25.0.1
LOANS AND LEASES
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
LOANS AND LEASES
6. LOANS AND LEASES
The following table shows the Company's loan portfolio by category:
 December 31,
(Dollars in thousands)20242023
Commercial and industrial$2,656,174 $2,540,070 
Owner-occupied commercial1,973,645 1,886,087 
Commercial mortgages4,030,627 3,801,180 
Construction832,093 1,035,530 
Commercial small business leases647,516 623,622 
Residential(1)
965,051 870,705 
Consumer(2)
2,086,393 2,012,134 
13,191,499 12,769,328 
Less:
Allowance for credit losses195,281 186,126 
Net loans and leases$12,996,218 $12,583,202 
(1)Includes reverse mortgages, at fair value of $3.6 million and $2.8 million at December 31, 2024 and 2023, respectively.
(2)Includes home equity lines of credit, installment loans unsecured lines of credit and education loans.
Accrued interest receivable on loans outstanding was $67.5 million and $69.8 million at December 31, 2024 and 2023, respectively.
v3.25.0.1
ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY INFORMATION
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY INFORMATION
7. ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY INFORMATION
The following tables provide the activity of the Company's allowance for credit losses and loan and lease balances for the years ended December 31, 2024, 2023, and 2022. During 2024, the increase was primarily due to net loan growth, as well as increases in criticized loan levels in the commercial mortgages portfolio and specific reserves on certain commercial loans.
 
(Dollars in thousands)Commercial and Industrial
Owner-
occupied
Commercial
Commercial
Mortgages
ConstructionCommercial Small Business Leases
Residential(1)
Consumer(2)
Total
Year Ended December 31, 2024
Allowance for credit losses
Beginning balance$49,394 $10,719 $36,055 $10,762 $15,170 $5,483 $58,543 $186,126 
Charge-offs(15,490)(177)(5,749)— (20,033)(125)(23,549)(65,123)
Recoveries6,883 217 183 — 2,705 225 2,654 12,867 
Provision (release)16,344 (1,620)18,473 (1,577)18,123 (17)11,685 61,411 
Ending balance$57,131 $9,139 $48,962 $9,185 $15,965 $5,566 $49,333 $195,281 
Period-end allowance allocated to:
Loans evaluated on an individual basis$8,349 $— $— $— $— $— $— $8,349 
Loans evaluated on a collective basis48,782 9,139 48,962 9,185 15,965 5,566 49,333 186,932 
Ending balance$57,131 $9,139 $48,962 $9,185 $15,965 $5,566 $49,333 $195,281 
Period-end loan balances:
Loans evaluated on an individual basis
$61,674 $5,010 $22,223 $25,600 $— $8,315 $2,790 $125,612 
Loans evaluated on a collective basis2,594,500 1,968,635 4,008,404 806,493 647,516 953,111 2,083,603 13,062,262 
Ending balance$2,656,174 $1,973,645 $4,030,627 $832,093 $647,516 $961,426 $2,086,393 $13,187,874 
(1)Period-end loan balance excludes reverse mortgages at fair value of $3.6 million.
(2)Includes home equity lines of credit, installment loans, unsecured lines of credit and education loans.
(Dollars in thousands)Commercial and IndustrialOwner-
occupied
Commercial		Commercial
Mortgages		ConstructionCommercial Small Business Leases
Residential(1)
Consumer(2)
Total
Year Ended December 31, 2023
Allowance for credit losses
Beginning balance$49,526 $6,019 $21,473 $6,987 $9,868 $4,668 $53,320 $151,861 
Charge-offs(26,653)(184)(300)(794)(15,641)(41)(22,394)(66,007)
Recoveries7,735 54 7 532 1,986 260 1,625 12,199 
Provision18,786 4,830 14,875 4,037 18,957 596 25,992 88,073 
Ending balance$49,394 $10,719 $36,055 $10,762 $15,170 $5,483 $58,543 $186,126 
Period-end allowance allocated to:
Loans evaluated on an individual basis$1,591 $— $— $— $— $— $— $1,591 
Loans evaluated on a collective basis47,803 10,719 36,055 10,762 15,170 5,483 58,543 184,535 
Ending balance$49,394 $10,719 $36,055 $10,762 $15,170 $5,483 $58,543 $186,126 
Period-end loan balances:
Loans evaluated on an individual basis$19,221 $5,200 $22,295 $12,617 $— $5,876 $2,287 $67,496 
Loans evaluated on a collective basis2,520,849 1,880,887 3,778,885 1,022,913 623,622 862,019 2,009,847 12,699,022 
Ending balance$2,540,070 $1,886,087 $3,801,180 $1,035,530 $623,622 $867,895 $2,012,134 $12,766,518 
(1)Period-end loan balance excludes reverse mortgages at fair value of $2.8 million.
(2)Includes home equity lines of credit, installment loans, unsecured lines of credit and education loans.
(Dollars in thousands)Commercial and Industrial
Owner-
occupied
Commercial
Commercial
Mortgages
ConstructionCommercial Small Business Leases
Residential(1)
Consumer(2)
Total
Year Ended December 31, 2022
Allowance for credit losses
Beginning balance$43,987 $4,574 $11,623 $1,903 $5,980 $3,352 $23,088 $94,507 
Impact of adoption ASC 326(3)
22,613 595 2,684 71 1 61 78 26,103 
Charge-offs(12,500)(179)(581)— (6,504)(186)(7,520)(27,470)
Recoveries4,806 278 223 2,567 1,306 665 793 10,638 
(Release) provision(9,380)751 7,524 2,446 9,085 776 36,881 48,083 
Ending balance$49,526 $6,019 $21,473 $6,987 $9,868 $4,668 $53,320 $151,861 
Period-end allowance allocated to:
Loans evaluated on an individual basis$2,428 $— $— $— $— $— $— $2,428 
Loans evaluated on a collective basis47,098 6,019 21,473 6,987 9,868 4,668 53,320 149,433 
Ending balance$49,526 $6,019 $21,473 $6,987 $9,868 $4,668 $53,320 $151,861 
Period-end loan balances:
Loans evaluated on an individual basis$17,572 $1,929 $6,369 $5,143 $— $7,680 $2,047 $40,740 
Loans evaluated on a collective basis2,557,773 1,807,653 3,344,715 1,038,906 558,981 751,785 1,808,883 11,868,696 
Ending balance$2,575,345 $1,809,582 $3,351,084 $1,044,049 $558,981 $759,465 $1,810,930 $11,909,436 
(1)Period-end loan balance excludes reverse mortgages at fair value of $2.4 million.
(2)Includes home equity lines of credit, installment loans, unsecured lines of credit and education loans.
(3)Includes $23.5 million initial provision for credit losses on non-PCD loans.
The following tables show nonaccrual and past due loans presented at amortized cost at the date indicated: 
December 31, 2024
(Dollars in thousands)30–89 Days
Past Due and
Still Accruing
Greater Than
90 Days
Past Due and
Still Accruing
Total Past
Due
And Still
Accruing
Accruing
Current
Balances
Nonaccrual Loans With No AllowanceNonaccrual Loans With An Allowance
Total
Loans
Commercial and industrial$1,482 $488 $1,970 $2,592,395 $43,206 $18,603 $2,656,174 
Owner-occupied commercial706 196 902 1,968,033 4,710 — 1,973,645 
Commercial mortgages2,621 562 3,183 4,005,221 22,223 — 4,030,627 
Construction— — — 806,493 25,600 — 832,093 
Commercial small business leases8,409 566 8,975 638,541 — — 647,516 
Residential(1)
4,262 15 4,277 952,138 5,011 — 961,426 
Consumer(2)
18,086 7,375 25,461 2,058,104 2,828 — 2,086,393 
Total(4)
$35,566 $9,202 $44,768 $13,020,925 $103,578 $18,603 $13,187,874 
% of Total Loans0.27 %0.07 %0.34 %98.73 %0.79 %0.14 %100.00 %
(1)Residential accruing current balances exclude reverse mortgages at fair value of $3.6 million.
(2)Includes $15.6 million of delinquent, but still accruing, U.S. government-guaranteed student loans that carry little risk of credit loss.
December 31, 2023
(Dollars in thousands)30–89 Days
Past Due and
Still Accruing
Greater Than
90 Days
Past Due and
Still Accruing
Total Past
Due
And Still
Accruing
Accruing
Current
Balances
Nonaccrual Loans With No Allowance(1)
Nonaccrual Loans With An AllowanceTotal Loans
Commercial and industrial(2)
$1,630 $293 $1,923 $2,518,934 $13,645 $5,568 $2,540,070 
Owner-occupied commercial1,786 487 2,273 1,878,952 4,862 — 1,886,087 
Commercial mortgages1,190 — 1,190 3,777,698 22,292 — 3,801,180 
Construction— — — 1,022,913 12,617 — 1,035,530 
Commercial small business leases6,697 772 7,469 616,153 — — 623,622 
Residential(2)
9,261 — 9,261 856,055 2,579 — 867,895 
Consumer(3)
15,249 10,032 25,281 1,984,407 2,446 — 2,012,134 
Total$35,813 $11,584 $47,397 $12,655,112 $58,441 $5,568 $12,766,518 
% of Total Loans0.28 %0.09 %0.37 %99.13 %0.46 %0.04 %100.00 %
(1)Excludes nonaccruing loans held-for-sale.
(2)Residential accruing current balances exclude reverse mortgages at fair value of $2.8 million.
(3)Includes $14.5 million of delinquent, but still accruing, U.S. government-guaranteed student loans that carry little risk of credit loss.
The following table presents the amortized cost basis of nonaccruing collateral-dependent loans by class at December 31, 2024 and December 31, 2023:
December 31, 2024December 31, 2023
(Dollars in thousands)PropertyEquipment and otherPropertyEquipment and other
Commercial and industrial(1)
$41,105 $20,704 $17,230 $1,983 
Owner-occupied commercial4,710 — 4,862 — 
Commercial mortgages22,223 — 22,292 — 
Construction25,600 — 12,617 — 
Residential(2)
5,011 — 2,579 — 
Consumer(3)
2,828 — 2,446 — 
Total$101,477 $20,704 $62,026 $1,983 
(1)Excludes nonaccruing loans held-for-sale in 2023.
(2)Excludes reverse mortgages at fair value.
(3)Includes home equity lines of credit, installment loans, unsecured lines of credit and education loans.
As of December 31, 2024, there were 31 residential loans and 15 commercial loans in the process of foreclosure. The total outstanding balance on the loans was $5.6 million and $6.6 million, respectively. As of December 31, 2023, there were 31 residential loans and 9 commercial loans in the process of foreclosure. The total outstanding balance on the loans was $3.2 million and $1.1 million, respectively. Loan workout and other real estate owned (OREO) expenses were $1.7 million in 2024, $0.6 million in 2023, and $0.4 million in 2022. Loan workout and OREO expenses are included in Loan workout and other credit costs on the Consolidated Statements of Income.
Credit Quality Indicators
Below is a description of each of the risk ratings for all commercial loans:
 
•Pass. These borrowers currently show no indication of deterioration or potential problems and their loans are considered fully collectible.
•Special Mention. These borrowers have potential weaknesses that deserve management’s close attention. Borrowers in this category may be experiencing adverse operating trends, for example, declining revenues or margins, high leverage, tight liquidity, or increasing inventory without increasing sales. These adverse trends can have a potential negative effect on the borrower’s repayment capacity. These assets are not adversely classified and do not expose the Bank to significant risk that would warrant a more severe rating. Borrowers in this category may also be experiencing significant management problems, pending litigation, or other structural credit weaknesses.
•Substandard or Lower. These borrowers have well-defined weaknesses that require extensive oversight by management. Borrowers in this category may exhibit one or more of the following: inadequate debt service coverage, unprofitable operations, insufficient liquidity, high leverage, and weak or inadequate capitalization. Relationships in this category are not adequately protected by the sound financial worth and paying capacity of the obligor or the collateral pledged on the loan, if any. A distinct possibility exists that the Bank will sustain some loss if the deficiencies are not corrected. In addition, some borrowers in this category could have the added characteristic that the possibility of loss is extremely high. Current circumstances in the credit relationship make collection or liquidation in full highly questionable. Such impending events include: perfecting liens on additional collateral, obtaining collateral valuations, an acquisition or liquidation preceding, proposed merger, or refinancing plan.
Residential and Consumer Loans
The residential and consumer loan portfolios are monitored on an ongoing basis using delinquency information and loan type as credit quality indicators. These credit quality indicators are assessed in the aggregate in these relatively homogeneous portfolios. Loans that are greater than 90 days past due are generally considered nonperforming and placed on nonaccrual status.
The following table provides an analysis of loans by portfolio segment based on the credit quality indicators used to determine the allowance for credit losses as of December 31, 2024.
Term Loans Amortized Cost Basis by Origination Year(1)
20242023202220212020
Prior
Revolving loans amortized cost basisRevolving loans converted to termTotal
(Dollars in thousands)
Commercial and industrial:
Risk Rating
Pass$662,723 $542,655 $345,370 $126,173 $155,137 $309,445 $8,744 $252,524 $2,402,771 
Special mention18,861 386 4,147 1,176 2,490 607 — 1,868 29,535 
Substandard or Lower68,282 28,707 19,960 4,587 21,589 29,785 27 50,931 223,868 
$749,866 $571,748 $369,477 $131,936 $179,216 $339,837 $8,771 $305,323 $2,656,174 
Current-period gross writeoffs$102 $1,303 $4,276 $706 $275 $8,828 $— $— $15,490 
Owner-occupied commercial:
Risk Rating
Pass$285,146 $296,339 $224,797 $225,086 $168,368 $404,515 $— $238,356 $1,842,607 
Special mention— — 498 — 25,220 — — 756 26,474 
Substandard or Lower3,501 9,044 21,913 8,885 4,807 41,044 — 15,370 104,564 
$288,647 $305,383 $247,208 $233,971 $198,395 $445,559 $— $254,482 $1,973,645 
Current-period gross writeoffs$— $114 $— $— $— $63 $— $— $177 
Commercial mortgages:
Risk Rating
Pass$546,404 $740,711 $396,458 $414,546 $379,637 $858,744 $— $506,394 $3,842,894 
Special mention15,606 3,389 — 1,962 2,356 2,136 — 36,738 62,187 
Substandard or Lower43,572 23,996 16,328 2,077 20,880 18,165 — 528 125,546 
$605,582 $768,096 $412,786 $418,585 $402,873 $879,045 $— $543,660 $4,030,627 
Current-period gross writeoffs$— $62 $— $— $97 $5,590 $— $— $5,749 
Construction:
Risk Rating
Pass$318,363 $277,130 $161,517 $3,112 $87 $3,319 $— $22,416 $785,944 
Special mention— — — — — — — — — 
Substandard or Lower19,759 — 20,779 791 — — — 4,820 46,149 
$338,122 $277,130 $182,296 $3,903 $87 $3,319 $— $27,236 $832,093 
Current-period gross writeoffs$— $— $— $— $— $— $— $— $— 
Commercial small business leases:
Risk Rating
Performing$247,583 $189,509 $121,990 $56,998 $14,569 $16,867 $— $— $647,516 
Nonperforming— — — — — — — — — 
$247,583 $189,509 $121,990 $56,998 $14,569 $16,867 $— $— $647,516 
Current-period gross writeoffs$1,018 $5,442 $8,216 $3,645 $1,235 $477 $— $— $20,033 
Residential(2):
Risk Rating
Performing$170,647 $176,923 $62,833 $92,574 $49,994 $399,981 $— $— $952,952 
Nonperforming— 120 360 3,468 983 3,543 — — 8,474 
$170,647 $177,043 $63,193 $96,042 $50,977 $403,524 $— $— $961,426 
Current-period gross writeoffs$— $— $— $— $— $125 $— $— $125 
Consumer(3):
Risk Rating
Performing$282,465 $350,605 $446,701 $116,890 $85,633 $229,340 $564,839 $7,124 $2,083,597 
Nonperforming— 249 96 265 192 — 1,697 297 2,796 
$282,465 $350,854 $446,797 $117,155 $85,825 $229,340 $566,536 $7,421 $2,086,393 
Current-period gross writeoffs$1,282 $3,942 $13,955 $2,837 $863 $670 $— $— $23,549 
(1)Origination date represent the most recent underwriting of the loan which includes new relationships, renewals and extensions.
(2)Excludes reverse mortgages at fair value.
(3)Includes home equity lines of credit, installment loans, unsecured lines of credit and education loans.
The following table provides an analysis of loans by portfolio segment based on the credit quality indicators used to determine the allowance for credit losses as of December 31, 2023.
Term Loans Amortized Cost Basis by Origination Year(1)
(Dollars in thousands)20232022202120202019
Prior
Revolving loans amortized cost basisRevolving loans converted to termTotal
Commercial and industrial:
Risk Rating
Pass$716,848 $490,934 $180,343 $211,151 $90,522 $383,609 $8,785 $237,786 $2,319,978 
Special mention7,209 11,860 2,804 463 735 743 — 1,649 25,463 
Substandard or Lower72,993 54,024 5,951 10,224 22,046 17,906 — 11,485 194,629 
$797,050 $556,818 $189,098 $221,838 $113,303 $402,258 $8,785 $250,920 $2,540,070 
Current-period gross writeoffs$— $568 $5,214 $1,747 $7,567 $11,557 $— $— $26,653 
Owner-occupied commercial:
Risk Rating
Pass$346,908 $264,895 $251,262 $212,365 $194,153 $313,801 $— $178,150 $1,761,534 
Special mention2,885 3,115 5,419 1,105 11,002 5,559 — 1,393 30,478 
Substandard or Lower996 18,865 11,109 6,787 8,019 35,330 — 12,969 94,075 
$350,789 $286,875 $267,790 $220,257 $213,174 $354,690 $— $192,512 $1,886,087 
Current-period gross writeoffs$— $— $— $— $184 $— $— $— $184 
Commercial mortgages:
Risk Rating
Pass$847,137 $464,895 $526,280 $465,354 $486,855 $619,448 $— $290,083 $3,700,052 
Special mention20,632 — 67 1,837 10,666 — — — 33,202 
Substandard or Lower9,862 1,153 1,047 13,837 14,352 12,212 — 15,463 67,926 
$877,631 $466,048 $527,394 $481,028 $511,873 $631,660 $— $305,546 $3,801,180 
Current-period gross writeoffs$— $83 $— $217 $— $— $— $— $300 
Construction:
Risk Rating
Pass$429,055 $319,958 $111,333 $3,030 $388 $7,016 $— $87,741 $958,521 
Special mention28,718 19,769 8,227 — — — — — 56,714 
Substandard or Lower5,698 — 3,308 8,598 2,134 — — 557 20,295 
$463,471 $339,727 $122,868 $11,628 $2,522 $7,016 $— $88,298 $1,035,530 
Current-period gross writeoffs$— $— $794 $— $— $— $— $— $794 
Commercial small business leases:
Risk Rating
Performing$260,348 $191,746 $103,428 $40,697 $15,411 $11,992 $— $— $623,622 
Nonperforming— — — — — — — — — 
$260,348 $191,746 $103,428 $40,697 $15,411 $11,992 $— $— $623,622 
Current-period gross writeoffs$1,528 $7,250 $4,447 $1,454 $735 $227 $— $— $15,641 
Residential(2):
Risk Rating
Performing$188,644 $67,358 $102,982 $57,273 $33,499 $412,099 $— $— $861,855 
Nonperforming— 170 713 486 1,251 3,420 — — 6,040 
$188,644 $67,528 $103,695 $57,759 $34,750 $415,519 $— $— $867,895 
Current-period gross writeoffs$33 $— $— $— $— $8 $— $— $41 
Consumer(3):
Risk Rating
Performing$391,580 $568,919 $153,930 $104,248 $44,996 $245,849 $494,663 $5,662 $2,009,847 
Nonperforming— — 135 352 176 30 1,362 232 2,287 
$391,580 $568,919 $154,065 $104,600 $45,172 $245,879 $496,025 $5,894 $2,012,134 
Current-period gross writeoffs$1,790 $15,227 $4,411 $313 $198 $455 $— $— $22,394 
(1)Origination date represents the most recent underwriting of the loan which includes new relationships, renewals and extensions.
(2)Excludes reverse mortgages at fair value.
(3)Includes home equity lines of credit, installment loans, unsecured lines of credit and education loans.
Troubled Loans
The Company offers loan modifications to commercial and consumer borrowers that may result in a payment delay, interest rate reduction, term extension, principal forgiveness, or combination thereof. Loan modifications are offered on a case-by-case basis and are generally term extension, payment delay, and interest rate reduction modification types. Forbearance (due to hardship) programs result in modification types including payment delay and/or term extension. In addition, certain reorganization bankruptcy judgments may result in interest rate reduction, term extension, or principal forgiveness modification types.
The following tables show the amortized cost basis of troubled loans modified during the twelve months ended December 31, 2024 and 2023, disaggregated by portfolio segment and type of modification granted:
Twelve Months Ended December 31, 2024
(Dollars in thousands)Term ExtensionInterest Rate ReductionMore-Than-Insignificant Payment DelayCombination- Term Extension and Payment DelayCombination- Term Extension and Interest Rate ReductionCombination- Payment Delay and Interest Rate ReductionTotal% of Total Loan Category
Commercial and industrial$62,314 $— $15,682 $19,261 $27 $— $97,284 3.66 %
Owner-occupied commercial3,606 — — — — — 3,606 0.18 %
Commercial mortgages22,421 — — — — — 22,421 0.56 %
Construction1,188 — — — — 19,405 20,593 2.47 %
Residential— 120 24 — — — 144 0.01 %
Consumer(1)
716 — 2,821 3,703 — — 7,240 0.35 %
Total$90,245 $120 $18,527 $22,964 $27 $19,405 $151,288 1.15 %
Twelve Months Ended December 31, 2023
(Dollars in thousands)Term ExtensionInterest Rate ReductionMore-Than-Insignificant Payment DelayCombination- Term Extension and Payment DelayCombination- Term Extension and Interest Rate ReductionCombination - Payment Delay and Interest Rate ReductionTotal% of Total Loan Category
Commercial and industrial$44,123 $— $10,523 $5,568 $27 $— $60,241 1.90 %
Owner-occupied commercial66 — — — 138 — 204 0.01 %
Commercial mortgages9,386 — — — — — 9,386 0.25 %
Construction15,411 — — — — — 15,411 1.49 %
Residential561 — 216 — — — 777 0.09 %
Consumer(1)
1,782 — 1,937 5,092 156 194 9,161 0.46 %
Total$71,329 $— $12,676 $10,660 $321 $194 $95,180 0.75 %
(1)Includes home equity lines of credit, installment loans, unsecured lines of credit and education loans.
The following table describes the financial effect of the modifications made to troubled loans during the twelve months ended December 31, 2024 and 2023:
Twelve Months Ended December 31, 2024Twelve Months Ended December 31, 2023
Term Extension(1)
Interest Rate Reduction(2)
More-Than-Insignificant Payment Delay(3)
Term Extension(1)
Interest Rate Reduction(2)
More-Than-Insignificant Payment Delay(3)
Commercial and industrial0.926.11%0.26%1.344.00%0.13%
Owner-occupied commercial0.90——0.952.59—
Commercial mortgages0.48——1.33——
Construction1.000.520.151.00——
Residential—4.25—20.18——
Consumer0.49—0.053.082.650.06
(1)Represents the weighted-average increase in the life of modified loans measured in years, which reduces monthly payment amounts for borrowers.
(2)Represents the weighted-average decrease in the contractual interest rate on the modified loans.
(3)Represents the percentage of loans deferred over the total loan portfolio excluding reverse mortgages at fair value.
As of December 31, 2024 and December 31, 2023, the Company had commitments to extend credit of $18.6 million and $18.4 million, respectively, to borrowers experiencing financial difficulty whose terms had been modified.
Upon the Company’s determination that a modified loan (or portion of a loan) has subsequently been deemed uncollectible, the loan (or a portion of the loan) is written off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the allowance for credit losses is adjusted by the same amount.
The following tables show the amortized cost of loans that received a modification that had a payment default during the twelve months ended December 31, 2024 and 2023 and were modified in the 12 months before default to borrowers experiencing financial difficulty.
Twelve Months Ended December 31, 2024
Interest Rate ReductionMore-Than-Insignificant Payment DelayTotal
Residential$120 $24 $144 
Consumer— 96 96 
Total$120 $120 $240 
Twelve Months Ended December 31, 2023
More-Than-Insignificant Payment DelayCombination Term Extension & Payment DelayTotal
Commercial and industrial$— $5,568 $5,568 
Consumer98 — 98 
Total$98 $5,568 $5,666 
The Company closely monitors the performance of troubled loans to understand the effectiveness of its modification efforts. The following tables show the performance of loans that have been modified in the last 12 months as of December 31, 2024 and 2023:
December 31, 2024
(Dollars in thousands)30-89 Days Past Due and Still Accruing90+ Days Past Due and Still AccruingAccruing Current BalancesNonaccrual LoansTotal
Commercial and industrial$— $— $42,552 $54,732 $97,284 
Owner-occupied commercial— — 3,606 — 3,606 
Commercial mortgages— — 22,421 — 22,421 
Construction— — 20,593 — 20,593 
Residential— — — 144 144 
Consumer(3)
780 546 5,715 199 7,240 
Total$780 $546 $94,887 $55,075 $151,288 
(1)Includes home equity lines of credit, installment loans, unsecured lines of credit and education loans.

December 31, 2023
30-89 Days Past Due and Still Accruing90+ Days Past Due and Still AccruingAccruing Current BalancesNonaccrual LoansTotal
Commercial and industrial$21 $293 $53,989 $5,938 $60,241 
Owner-occupied commercial— — — 204 204 
Commercial mortgages— — 9,386 — 9,386 
Construction— — 15,411 — 15,411 
Residential— — 607 170 777 
Consumer(1)
1,021 205 7,539 396 9,161 
Total$1,042 $498 $86,932 $6,708 $95,180 
(1)Includes home equity lines of credit, installment loans and unsecured lines of credit.
v3.25.0.1
PREMISES AND EQUIPMENT
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
PREMISES AND EQUIPMENT
8. PREMISES AND EQUIPMENT
The following table shows the components of premises and equipment, at cost, summarized by major classifications:
December 31,
(Dollars in thousands)20242023
Land$23,685 $33,919 
Buildings36,508 49,262 
Leasehold improvements76,685 70,431 
Furniture and equipment63,994 57,555 
Gross premises and equipment200,872 211,167 
Less: Accumulated depreciation114,844 106,683 
Net premises and equipment$86,028 $104,484 
The Company recognized depreciation expense of $13.4 million, $17.9 million and $20.9 million for the years ended December 31, 2024, 2023 and 2022, respectively.
During the year, the Company transferred $18.8 million of land and building assets to held for sale as part of an optimization plan of WSFS-owned real estate properties. The Company recognized a $2.2 million loss on the transfer, which is reflected in restructuring expense on the Company's Consolidated Statements of Income. The Company is actively working to dispose of the assets.
v3.25.0.1
LEASES
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
LEASES
9. LEASES
As a lessee, the Company enters into leases for its bank branches, corporate offices, and certain equipment. As a lessor, the Company primarily provides financing through its equipment leasing business.
Lessee
The Company's ongoing leases have remaining lease terms of less than one year to 21 years, which includes renewal options that are exercised at its discretion. The Company's lease terms to calculate the lease liability and right-of-use asset include options to extend the lease when it is reasonably certain that the Company will exercise the option. The lease liability and right-of-use asset is included in Other liabilities and Other assets, respectively, in the Consolidated Statement of Financial Condition. Leases with an initial term of 12 months or less are not recorded on the balance sheet. Lease expense is recognized on a straight-line basis over the lease term. Operating lease expense is included in Occupancy expense in the Consolidated Statement of Income. The Company accounts for lease components separately from nonlease components and subleases certain real estate to third parties.
The components of the Company's ongoing operating lease cost were as follows:
Twelve months ended
(Dollars in thousands)December 31, 2024December 31, 2023December 31, 2022
Operating lease cost (1)
$16,830 $18,972 $20,123 
Sublease income(117)(161)(280)
Net lease cost$16,713 $18,811 $19,843 
(1)Includes variable lease cost and short-term lease cost.
Supplemental balance sheet information related to operating leases was as follows:
(Dollars in thousands)December 31, 2024December 31, 2023
Right-of-use assets$131,126 $130,601 
Lease liabilities$152,364 $151,596 
Lease term and discount rate of operating leases
Weighted average remaining lease term (in years)12.6213.01
Weighted average discount rate5.28 %5.20 %
Maturities of operating lease liabilities were as follows:
(Dollars in thousands)December 31, 2024
2025$18,083 
202617,447 
202716,571 
202816,471 
202916,052 
After 2029127,885 
Total lease payments212,509 
Less: Interest(60,145)
Present value of lease liabilities$152,364 
Supplemental cash flow information related to leases was as follows:
Twelve months ended
(Dollars in thousands)December 31, 2024December 31, 2023December 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$19,488 $19,104 $20,987 
Right of use assets obtained in exchange for new operating lease liabilities (non-cash)— — 13,707 
As of December 31, 2024, the Company had not entered into any material leases that have not yet commenced.
Lessor Equipment Leasing
The Company provides equipment and small business lease financing through its leasing subsidiary, NewLane Finance®. Interest income from direct financing leases where the Company is a lessor is recognized in Interest and fees on loans and leases on the Consolidated Statements of Income. The allowance for credit losses on finance leases are included within Provision for credit losses on the Consolidated Statements of Income.
The components of direct finance lease income are summarized in the table below:
Twelve months ended
(Dollars in thousands)December 31, 2024December 31, 2023December 31, 2022
Direct financing leases:
Interest income on lease receivable$62,881 $53,572 $42,542 
Amortization of deferred fees and costs(7,977)(6,301)(3,718)
Total direct financing lease income$54,904 $47,271 $38,824 
Equipment leasing receivables relate to direct financing leases. The composition of the net investment in direct financing leases was as follows:
(Dollars in thousands)December 31, 2024December 31, 2023
Lease receivables$749,968 $721,338 
Unearned income(122,846)(114,341)
Deferred fees and costs20,394 16,625 
Net investment in direct financing leases$647,516 $623,622 
Future minimum lease payments to be received for direct financing leases were as follows:
(Dollars in thousands)December 31, 2024
2025$246,265 
2026204,537 
2027151,729 
202895,712 
202942,896 
After 20298,829 
Total lease payments$749,968 
LEASES
9. LEASES
As a lessee, the Company enters into leases for its bank branches, corporate offices, and certain equipment. As a lessor, the Company primarily provides financing through its equipment leasing business.
Lessee
The Company's ongoing leases have remaining lease terms of less than one year to 21 years, which includes renewal options that are exercised at its discretion. The Company's lease terms to calculate the lease liability and right-of-use asset include options to extend the lease when it is reasonably certain that the Company will exercise the option. The lease liability and right-of-use asset is included in Other liabilities and Other assets, respectively, in the Consolidated Statement of Financial Condition. Leases with an initial term of 12 months or less are not recorded on the balance sheet. Lease expense is recognized on a straight-line basis over the lease term. Operating lease expense is included in Occupancy expense in the Consolidated Statement of Income. The Company accounts for lease components separately from nonlease components and subleases certain real estate to third parties.
The components of the Company's ongoing operating lease cost were as follows:
Twelve months ended
(Dollars in thousands)December 31, 2024December 31, 2023December 31, 2022
Operating lease cost (1)
$16,830 $18,972 $20,123 
Sublease income(117)(161)(280)
Net lease cost$16,713 $18,811 $19,843 
(1)Includes variable lease cost and short-term lease cost.
Supplemental balance sheet information related to operating leases was as follows:
(Dollars in thousands)December 31, 2024December 31, 2023
Right-of-use assets$131,126 $130,601 
Lease liabilities$152,364 $151,596 
Lease term and discount rate of operating leases
Weighted average remaining lease term (in years)12.6213.01
Weighted average discount rate5.28 %5.20 %
Maturities of operating lease liabilities were as follows:
(Dollars in thousands)December 31, 2024
2025$18,083 
202617,447 
202716,571 
202816,471 
202916,052 
After 2029127,885 
Total lease payments212,509 
Less: Interest(60,145)
Present value of lease liabilities$152,364 
Supplemental cash flow information related to leases was as follows:
Twelve months ended
(Dollars in thousands)December 31, 2024December 31, 2023December 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$19,488 $19,104 $20,987 
Right of use assets obtained in exchange for new operating lease liabilities (non-cash)— — 13,707 
As of December 31, 2024, the Company had not entered into any material leases that have not yet commenced.
Lessor Equipment Leasing
The Company provides equipment and small business lease financing through its leasing subsidiary, NewLane Finance®. Interest income from direct financing leases where the Company is a lessor is recognized in Interest and fees on loans and leases on the Consolidated Statements of Income. The allowance for credit losses on finance leases are included within Provision for credit losses on the Consolidated Statements of Income.
The components of direct finance lease income are summarized in the table below:
Twelve months ended
(Dollars in thousands)December 31, 2024December 31, 2023December 31, 2022
Direct financing leases:
Interest income on lease receivable$62,881 $53,572 $42,542 
Amortization of deferred fees and costs(7,977)(6,301)(3,718)
Total direct financing lease income$54,904 $47,271 $38,824 
Equipment leasing receivables relate to direct financing leases. The composition of the net investment in direct financing leases was as follows:
(Dollars in thousands)December 31, 2024December 31, 2023
Lease receivables$749,968 $721,338 
Unearned income(122,846)(114,341)
Deferred fees and costs20,394 16,625 
Net investment in direct financing leases$647,516 $623,622 
Future minimum lease payments to be received for direct financing leases were as follows:
(Dollars in thousands)December 31, 2024
2025$246,265 
2026204,537 
2027151,729 
202895,712 
202942,896 
After 20298,829 
Total lease payments$749,968 
v3.25.0.1
GOODWILL AND INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS
10. GOODWILL AND INTANGIBLE ASSETS
In accordance with ASC 805, Business Combinations (ASC 805) and ASC 350, Intangibles - Goodwill and Other (ASC 350), all assets acquired and liabilities assumed in purchase acquisitions, including goodwill, indefinite-lived intangibles and other intangibles are recorded at fair value as of acquisition date.
WSFS performs its annual goodwill impairment test on October 1 or more frequently if events and circumstances indicate that the fair value of a reporting unit is less than its carrying value. Between annual tests, management performs a qualitative review of goodwill quarterly as part of the Company's review of the overall business to ensure no events or circumstances have occurred that would impact its goodwill evaluation. During the year ended December 31, 2024, management determined, based on its qualitative assessment, that it is not more likely than not that the fair values of our reporting units are less than their carrying values. No goodwill impairment existed during the year ended December 31, 2024.

The following table shows the allocation of goodwill to the reportable operating segments for purposes of goodwill impairment testing:
 
(Dollars in thousands)
WSFS
Bank
Wealth
Management
Consolidated
Company
December 31, 2022$753,586 $130,051 $883,637 
Goodwill from business combinations(1)
— 2,261 2,261 
December 31, 2023753,586 132,312 885,898 
Goodwill adjustments— — — 
December 31, 2024$753,586 $132,312 $885,898 
(1)During the third quarter of 2023, BMCM acquired the business of a registered investment advisory firm.
ASC 350 requires that an acquired intangible asset be separately recognized if the benefit of the intangible asset is obtained through contractual or other legal rights, or if the asset can be sold, transferred, licensed, rented or exchanged, regardless of the acquirer’s intent to do so. The following table summarizes the Company's intangible assets:
 
(Dollars in thousands)
Gross
Intangible
Assets
Accumulated
Amortization
Net
Intangible
Assets
Amortization Period
December 31, 2024
Core deposits$104,751 $(60,999)$43,752 10 years
Customer relationships73,880 (23,588)50,292 
7-15 years
Tradename2,900 — 2,900 indefinite
Loan servicing rights(1)
11,220 (5,901)5,319 
10-25 years
Total intangible assets$192,751 $(90,488)$102,263 
December 31, 2023
Core deposits$104,751 $(50,754)$53,997 10 years
Customer relationships73,880 (18,153)55,727 
7-15 years
Tradename2,900 — 2,900 indefinite
Loan servicing rights(2)
12,613 (6,575)6,038 
10-25 years
Total intangible assets$194,144 $(75,482)$118,662 
(1)Includes impairment losses of $0.6 million for the year ended December 31, 2024.
(2)Includes impairment losses of less than $0.1 million for the year ended December 31, 2023.
The Company recognized amortization expense on other intangible assets of $15.7 million, $15.5 million and $15.7 million for the years ended December 31, 2024, 2023 and 2022, respectively.
The following presents the estimated amortization expense of intangibles:
 
(Dollars in thousands)
Amortization
of Intangibles
2025$16,635 
202615,916 
202715,435 
202814,596 
202910,312 
Thereafter26,469 
Total$99,363 
Servicing Assets
The Company records mortgage servicing rights and servicing rights on Small Business Administration (SBA) loans. The Company's mortgage loan servicing portfolio includes acquired servicing portfolios, mortgages it originates, and mortgages that it services for others. Mortgage servicing rights and SBA loan servicing rights are included are in Intangible assets in the accompanying Consolidated Statements of Financial Condition. Mortgage loans which the Company services for others are not included in Loans and leases, net of allowance in the accompanying Consolidated Statements of Financial Condition. Servicing rights represent the present value of the future net servicing fees from servicing mortgage loans the Company acquires or originates, or that it services for others.
The value of the Company's mortgage servicing rights was $1.3 million and $1.7 million at December 31, 2024 and 2023, respectively, and the value of its SBA loan servicing rights was $4.0 million and $4.3 million at December 31, 2024 and 2023, respectively. Changes in the value of these servicing rights resulted in an impairment reversal of $0.6 million during 2024 and impairment losses of less than $0.1 million during 2023. Revenues from originating, marketing and servicing mortgage loans as well as valuation adjustments related to capitalized mortgage servicing rights are included in Mortgage Banking Activities, Net in the Consolidated Statements of Income and revenues from the Company's SBA loan servicing rights are included in Loan and lease fee income, in the Consolidated Statements of Income.

Besides the impairment on loan servicing rights noted above, there was no impairment of other intangible assets as of December 31, 2024 or 2023. Changing economic conditions that may adversely affect the Company's performance and could result in impairment, which could adversely affect earnings in the future.
v3.25.0.1
DEPOSITS
 12 Months Ended
Dec. 31, 2024
Deposits Liabilities, Balance Sheet, Reported Amounts [Abstract]  
DEPOSITS
11. DEPOSITS
 
The following table is a summary of the Company's deposits by category:
December 31,
(Dollars in thousands)20242023
Noninterest-bearing:
Noninterest-bearing demand$4,987,753 $4,917,297 
Total noninterest-bearing$4,987,753 $4,917,297 
Interest-bearing:
Interest-bearing demand$2,973,431 $2,935,530 
Savings 1,466,289 1,610,143 
Money market5,471,611 5,175,123 
Customer time deposits2,130,724 1,784,317 
Brokered deposits— 51,676 
Total interest-bearing$12,042,055 $11,556,789 
Total deposits$17,029,808 $16,474,086 
The following table is a summary of the remaining time to maturity for customer time deposits:
December 31,
(Dollars in thousands)20242023
Certificates of deposit (not jumbo):
Less than one year$1,568,970 $1,391,157 
One year to two years87,276 47,336 
Two years to three years11,734 14,375 
Three years to four years9,894 9,207 
Over four years6,410 10,166 
Total certificates of deposit (not jumbo)$1,684,284 $1,472,241 
Jumbo certificates of deposit (1)
Less than one year$427,841 $305,511 
One year to two years17,373 4,486 
Two years to three years684 662 
Three years to four years— 689 
Over four years542 728 
Total jumbo certificates of deposit$446,440 $312,076 
Total certificates of deposit$2,130,724 $1,784,317 
(1)Represents certificates of deposit balances in excess of $250 thousand from individuals, businesses and municipalities.
The following table is a summary of interest expense on deposits by category:
Year Ended December 31,
(Dollars in thousands)202420232022
Interest-bearing demand$33,007 $26,671 $7,441 
Money market183,306 122,168 13,536 
Savings7,314 5,733 965 
Time deposits84,871 45,184 5,626 
Total customer interest expense$308,498 $199,756 $27,568 
Brokered deposits178 10,064 613 
Total interest expense on deposits$308,676 $209,820 $28,181 
v3.25.0.1
BORROWED FUNDS
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
BORROWED FUNDS 12. BORROWED FUNDS
The following is a summary of borrowed funds by type, at or for the twelve months ended:
(Dollars in thousands)
Balance at
End of
Period
Weighted
Average
Interest
Rate
Maximum
Outstanding
at Month
End During
the Period
Average
Amount
Outstanding
During the
Year
Weighted
Average
Interest
Rate
During the
Year
December 31, 2024
Federal funds purchased $— — %$170,000 $6,735 5.09 %
FHLB advances51,040 4.33 172,306 56,855 5.22 
Trust preferred borrowings90,834 6.59 90,834 90,730 7.62 
Senior and subordinated debt218,631 4.01 218,631 218,507 4.43 
Other borrowed funds23,102 0.30 825,152 639,186 4.62 
December 31, 2023
Federal funds purchased $— — %$130,000 $33,195 5.04 %
FHLB advances— — 800,000 103,268 5.18 
Trust preferred borrowings90,638 7.51 90,638 90,534 7.44 
Senior and subordinated debt218,400 4.34 248,189 221,975 4.42 
Other borrowed funds586,038 0.28 739,346 409,002 4.41 
Federal Home Loan Bank Advances
Advances from the FHLB with ranges ranging from 3.77% to 4.72% at December 31, 2024 are due as follows:
(Dollars in thousands)Amount
Weighted
Average
Rate
2025$7,882 4.30 %
202616,261 3.96 
202726,897 4.56 
$51,040 4.33 %
Pursuant to collateral agreements with the FHLB, advances are secured by qualifying loan collateral, qualifying fixed-income securities, FHLB stock and an interest-bearing demand deposit account with the FHLB. As a member of the FHLB, the Company is required to purchase and hold shares of capital stock in the FHLB and was in compliance with this requirement with a stock investment in FHLB of $11.8 million at December 31, 2024 and $15.4 million at December 31, 2023. This stock is carried on the accompanying Consolidated Statements of Financial Condition at cost, which approximates liquidation value.
The Company received dividends on its stock investment in FHLB of $1.5 million and $1.1 million for the years ended December 31, 2024 and 2023, respectively. For additional information regarding FHLB Stock, see Note 18.
Trust Preferred Borrowings
In 2005, the Trust issued Pooled Floating Rate Securities at a variable interest rate of 177 basis points over the three-month LIBOR rate with a scheduled maturity of June 1, 2035. The reference rate on these securities was updated to three-month term SOFR upon the discontinuation of LIBOR on June 30, 2023. These securities are currently callable and have a maturity date of June 1, 2035.
Royal Bancshares Capital Trust I (Trust I) and Royal Bancshares Capital Trust II (Trust II) (collectively, the RBC Trusts), which were acquired from Bryn Mawr Bank Corporation, were utilized for the sole purpose of issuing and selling capital securities representing preferred beneficial interests. Although WSFS owns an aggregate of $0.8 million of the common securities of Trust I and Trust II, the RBC Trusts are not consolidated into the Company’s Consolidated Financial Statements as the Company is not deemed to be the primary beneficiary of these entities. Inclusive of the fair value marks, WSFS assumed junior subordinated debentures to the RBC Trusts with a current carrying value of $11.9 million each, totaling $23.8 million. The junior subordinated debentures incur interest at a coupon rate of 6.77% as of December 31, 2024. The rate resets quarterly based on three-month term SOFR plus 2.41%.
Each of Trust I and Trust II issued an aggregate principal amount of $12.5 million of capital securities initially bearing fixed and/or fixed/floating interest rates corresponding to the debt securities held by each Trust to an unaffiliated investment vehicle and an aggregate principal amount of $0.4 million of common securities bearing fixed and/or fixed/floating interest rates corresponding to the debt securities held by each Trust to the Company. The Company has fully and unconditionally guaranteed all of the obligations of the RBC Trusts, including any distributions and payments on liquidation or redemption of the capital securities.
The rights of holders of common securities of the RBC Trusts are subordinate to the rights of the holders of capital securities only in the event of a default; otherwise, the common securities’ economic and voting rights are pari passu with the capital securities. The capital and common securities of the RBC Trusts are subject to mandatory redemption upon the maturity or call of the junior subordinated debentures held by each. Unless earlier dissolved, the RBC Trusts will dissolve on December 15, 2034. The junior subordinated debentures are the sole assets of Trusts, mature on December 15, 2034, and may be called at par by the Company any time. The Company records its investments in the RBC Trusts’ common securities of $0.4 million each as investments in unconsolidated entities and records dividend income upon declaration by Trust I and Trust II.
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase
During 2024 and 2023, the Company purchased federal funds as a short-term funding source. The Company had no securities sold under agreements to repurchase at December 31, 2024 and December 31, 2023.
Senior and Subordinated Debt
On December 3, 2020, the Company issued $150.0 million of senior notes due 2030 (the 2030 Notes). The 2030 Notes mature on December 15, 2030 and have a fixed coupon rate of 2.75% from issuance until December 15, 2025 and a variable coupon rate equal to the three-month term SOFR, reset quarterly, plus 2.485% from December 15, 2025 until maturity. The 2030 Notes may be redeemed by the Company beginning December 15, 2025 at 100% of principal plus accrued and unpaid interest. The remaining net proceeds from the issuance of the 2030 Notes are being used for general corporate purposes, including, but not limited to, financing organic growth, acquisitions, repurchases of common stock, and redemption of outstanding indebtedness. The carrying value of the 2030 Notes, inclusive of deferred issuance costs, was $148.6 million as of December 31, 2024 and $148.4 million as of December 31, 2023.
The Company assumed $30.0 million in aggregate principal amount of fixed-to-floating rate subordinated notes due 2025 (the 2025 Notes) from Bryn Mawr Bank Corporation, which were issued in a private placement to institutional accredited investors on August 6, 2015. Effective February 15, 2023, the Company redeemed all remaining outstanding principal amount of the 2025 Notes. The 2025 Notes bore interest at a variable rate that reset quarterly to a level equal to the then-current three-month LIBOR plus an issuance spread of 3.068%.
The Company assumed $70.0 million in aggregate principal amount of fixed-to-floating rate subordinated notes due 2027 (the 2027 Notes) from Bryn Mawr Bank Corporation, which were issued by Bryn Mawr Bank Corporation in an underwritten public offering on December 13, 2017. The 2027 Notes mature on December 15, 2027, and had a fixed annual interest of 4.25% until and including December 14, 2022, and currently bear interest at a variable rate of 6.67%. The variable rate will reset quarterly to a level equal to the three-month term SOFR rate plus 2.31% until December 15, 2027, or any early redemption date. The carrying value of the 2027 Notes was $70.0 million as of December 31, 2024 and December 31, 2023.
Other Borrowed Funds
Included in other borrowed funds are collateralized borrowings of $23.1 million and $586.0 million at December 31, 2024 and 2023, respectively, primarily consisting of outstanding retail repurchase agreements, contractual arrangements under which portions of certain securities are sold overnight to retail clients under agreements to repurchase. Other borrowed funds at December 31, 2023 included $565.0 million of Bank Term Funding Program borrowings. Such borrowings were collateralized by mortgage-backed securities.
Borrower in Custody
The Company had $2.5 billion and $2.1 billion of loans and securities pledged to the Federal Reserve of Philadelphia (FRB) at December 31, 2024 and December 31, 2023, respectively. The Company had no borrowings outstanding from the FRB at December 31, 2024 and $565.0 million in borrowings outstanding from the FRB as of December 31, 2023.
v3.25.0.1
STOCKHOLDERS' EQUITY AND REGULATORY CAPITAL
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
STOCKHOLDERS’ EQUITY AND REGULATORY CAPITAL
13. STOCKHOLDERS' EQUITY AND REGULATORY CAPITAL
Savings associations such as the Bank are subject to regulatory capital requirements administered by various banking regulators. Failure to meet minimum capital requirements could result in certain actions by regulators that could have a material effect on the Company’s Consolidated Financial Statements. Risk-based capital requirements applicable to bank holding companies and depository institutions include a minimum common equity Tier 1 capital ratio of 4.50% of risk-weighted assets, a minimum Tier 1 capital ratio of 6.00% of risk-weighted assets, and a current minimum total capital ratio of 8.00% of risk-weighted assets and a minimum Tier 1 leverage capital ratio of 4.00% of average assets.
As of December 31, 2024 and 2023, the Bank was in compliance with regulatory capital requirements and exceeded the levels necessary for the Bank to be considered “well-capitalized” as defined in the regulations.
The following table presents the capital position of the Bank and the Company as of December 31, 2024 and 2023:
 
  
Consolidated
Capital
Minimum For Capital
Adequacy Purposes
To Be Well-Capitalized
Under Prompt Corrective
Action Provisions
(Dollars in thousands)AmountPercentAmountPercentAmountPercent
December 31, 2024
Total Capital (to risk-weighted assets)
Wilmington Savings Fund Society, FSB$2,470,183 15.13 %$1,306,507 8.00 %$1,633,133 10.00 %
WSFS Financial Corporation2,575,170 15.77 1,306,677 8.00 1,633,346 10.00 
Tier 1 Capital (to risk-weighted assets)
Wilmington Savings Fund Society, FSB2,265,995 13.88 979,880 6.00 1,306,507 8.00 
WSFS Financial Corporation2,254,907 13.81 980,008 6.00 1,306,677 8.00 
Common Equity Tier 1 Capital
(to risk-weighted assets)
Wilmington Savings Fund Society, FSB2,265,995 13.88 734,910 4.50 1,061,537 6.50 
WSFS Financial Corporation2,254,907 13.81 735,006 4.50 1,061,675 6.50 
Tier 1 Leverage Capital
Wilmington Savings Fund Society, FSB2,265,995 11.03 822,045 4.00 1,027,556 5.00 
WSFS Financial Corporation2,254,907 10.96 822,637 4.00 1,028,296 5.00 
December 31, 2023
Total Capital (to risk-weighted assets)
Wilmington Savings Fund Society, FSB$2,382,514 14.96 %$1,273,856 8.00 %$1,592,320 10.00 %
WSFS Financial Corporation2,426,577 15.23 1,274,611 8.00 1,593,264 10.00 
Tier 1 Capital (to risk-weighted assets)
Wilmington Savings Fund Society, FSB2,184,193 13.72 955,392 6.00 1,273,856 8.00 
WSFS Financial Corporation2,098,403 13.17 955,958 6.00 1,274,611 8.00 
Common Equity Tier 1 Capital
(to risk-weighted assets)
Wilmington Savings Fund Society, FSB2,184,193 13.72 716,544 4.50 1,035,008 6.50 
WSFS Financial Corporation2,098,403 13.17 716,969 4.50 1,035,621 6.50 
Tier 1 Leverage Capital
Wilmington Savings Fund Society, FSB2,184,193 10.92 800,021 4.00 1,000,026 5.00 
WSFS Financial Corporation2,098,403 10.48 800,934 4.00 1,001,168 5.00 
The Holding Company
As of December 31, 2024, the Company's capital structure includes one class of stock, $0.01 par common stock outstanding with each share having equal voting rights.
In 2005, the Trust issued Pooled Floating Rate Securities at a variable interest rate of 177 basis points over the three-month LIBOR rate with a scheduled maturity of June 1, 2035. The reference rate on these securities was updated to three-month term SOFR upon the discontinuation of LIBOR on June 30, 2023. The par value of these securities is $2.0 million and the aggregate principal is $67.0 million. The proceeds from the issue were invested in junior subordinated debentures issued by the Company. At December 31, 2024, the coupon rate of the Trust securities was 6.53%. The effective rate will vary due to fluctuations in interest rates.
The RBC Trusts, which were acquired from Bryn Mawr Bank Corporation, were utilized for the sole purpose of issuing and selling capital securities representing preferred beneficial interests. Although WSFS owns an aggregate of $0.8 million of the common securities of Trust I and Trust II, the RBC Trusts are not consolidated into the Company’s Consolidated Financial Statements as the Company is not deemed to be the primary beneficiary of these entities. Inclusive of the fair value marks, WSFS assumed junior subordinated debentures to the RBC Trusts with a current carrying value of $11.9 million each, totaling $23.8 million. The junior subordinated debentures incur interest at a coupon rate of 6.77% as of December 31, 2024. The rate resets quarterly based on three-month term SOFR plus 2.41%.
These securities are treated as borrowings with interest included in Interest on trust preferred borrowings on the Consolidated Statements of Income and included in Trust preferred borrowings in the Consolidated Statements of Financial Condition.
The Trust preferred borrowings qualify as Tier 2 capital. The Trust preferred borrowings issued in 2005 were previously Tier 1 capital, but migrated to Tier 2 capital following the acquisition of Bryn Mawr Bank Corporation and impacts of 12 C.F.R. § 217.300(c)(2)(i). The Bank is prohibited from paying any dividend or making any other capital distribution if, after making the distribution, the Bank would be under-capitalized within the meaning of the Prompt Corrective Action regulations.
At December 31, 2024, $275.4 million in cash remains at the holding company to support the parent company’s needs.

Pursuant to federal laws and regulations, the Company's ability to engage in transactions with affiliated corporations, including the loan of funds to, or guarantee of the indebtedness of, an affiliate, is limited.
During the year ended December 31, 2024, the Company repurchased 2,049,739 common shares at an average price of $46.55 per share as part of its share buy-back program approved by the Board of Directors. The program is consistent with the Company's intent to return 35% of annual net income to stockholders through routine share repurchases and common equity dividends, along with incremental capital return as appropriate through additional share repurchases, while maintaining capital ratios in excess of the “well-capitalized” benchmarks.
v3.25.0.1
ASSOCIATE BENEFIT PLANS
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
ASSOCIATE BENEFIT PLANS
14. ASSOCIATE BENEFIT PLANS
Associate 401(k) Savings Plan
Certain subsidiaries of ours maintain a qualified plan in which Associates may participate. Participants in the plan may elect to direct a portion of their wages into investment accounts that include professionally managed mutual and money market funds and the Company's common stock. Generally, the principal and related earnings are tax deferred until withdrawn. The Company matches a portion of the Associates’ contributions. As a result, the Company's total cash contributions to the plan on behalf of its Associates resulted in an expense of $10.7 million, $10.1 million, and $9.1 million for 2024, 2023, and 2022, respectively.
All contributions are invested in accordance with the Associates’ selection of investments. If Associates do not designate how discretionary contributions are to be invested, 100% is invested in target-date fund that corresponds with the participant’s age. Associates may generally make transfers to various other investment vehicles within the plan. The plan’s yearly activity includes net sales of 65,000, 14,000 and 8,000 shares of the Company's common stock in 2024, 2023 and 2022 respectively. There were no purchases in 2024, 2023 or 2022.
Postretirement Medical Benefits
The Company shares certain costs of providing health and life insurance benefits to eligible retired Associates (employees) and their eligible dependents. Previously, all Associates were eligible for these benefits if they reached normal retirement age while working for the Company. Effective March 31, 2014, the Company changed the eligibility of this plan to include only those Associates who have achieved ten years of service as of March 31, 2014. The Company uses the mortality table issued by the Office of the Actuary of the U.S. Bureau of Census in its calculation.
The Company accounts for its obligations under the provisions of ASC 715, Compensation - Retirement Benefits (ASC 715). ASC 715 requires that the Company recognized the costs of these benefits over an Associate's active working career. Amortization of unrecognized net gains or losses resulting from experience different from that assumed and from changes in assumptions is included as a component of net periodic benefit cost over the remaining service period of active employees to the extent that such gains and losses exceed 10% of the accumulated postretirement benefit obligation, as of the beginning of the year. The Company recognizes its service cost in Salaries, benefits and other compensation and the other components of net periodic benefit cost in Other operating expenses in the Consolidated Statements of Income.
ASC 715 requires that the Company recognizes the funded status of its defined benefit postretirement plan in the statement of financial condition, with a corresponding adjustment to accumulated other comprehensive income (loss), net of tax. The adjustment to accumulated other comprehensive income (loss) at adoption represented the net unrecognized actuarial losses and unrecognized transition obligation remaining from the initial adoption of ASC 715, all of which were previously netted against the plan’s funded status in the statement of financial condition pursuant to the provisions of ASC 715. These amounts will be subsequently recognized as net periodic pension costs pursuant to the Company's historical accounting policy for amortizing such amounts. Further, actuarial gains and losses that arise in subsequent periods, and are not recognized as net periodic pension cost in the same periods, will be recognized as a component of other comprehensive income (loss). Those amounts will be subsequently recognized as a component of net periodic pension cost on the same basis as the amounts recognized in accumulated other comprehensive income (loss) at adoption of ASC 715.
The following disclosures relating to postretirement medical benefits were measured at December 31:
 
(Dollars in thousands)202420232022
Change in benefit obligation:
Benefit obligation at beginning of year$1,311 $1,331 $2,138 
Service cost32 33 52 
Interest cost66 65 51 
Actuarial gain(40)(68)(833)
Benefits paid(83)(50)(77)
Benefit obligation at end of year$1,286 $1,311 $1,331 
Change in plan assets:
Fair value of plan assets at beginning of year$— $— $— 
Employer contributions83 50 77 
Benefits paid(83)(50)(77)
Fair value of plan assets at end of year$— $— $— 
Unfunded status$(1,286)$(1,311)$(1,331)
Amounts recognized in accumulated other comprehensive income(1):
Net prior service credit$131 $207 $283 
Net gain1,132 1,263 1,625 
Net amount recognized$1,263 $1,470 $1,908 
Components of net periodic benefit income:
Service cost$32 $33 $52 
Interest cost66 65 51 
Amortization of prior service credit(76)(76)(76)
Net gain recognition(147)(160)(84)
Net periodic benefit income$(125)$(138)$(57)
Assumption used to determine net periodic benefit cost:
Discount rate4.80 %5.00 %2.80 %
Assumption used to value the Accumulated Postretirement Benefit Obligation (APBO):
Discount rate5.50 %5.30 %5.00 %
(1)Before tax effects
Estimated future benefit payments:
The following table shows the expected future payments for the next 10 years:
(Dollars in thousands)
During 2025$57 
During 202660 
During 202764 
During 202867 
During 202969 
During 2029 through 2033406 
$723 
The Company assumes medical benefits will increase at an average rate of less than 10% per annum. The costs incurred for retirees’ health care are limited since certain current and all future retirees are restricted to an annual medical premium cap indexed (since 1995) by the lesser of 4% or the actual increase in medical premiums paid by us. For 2024, this annual premium cap amounted to $4,496 per retiree. The Company estimates that it will contribute approximately $4,676 per retiree to the plan during fiscal 2025.
Beneficial Associate Pension and other postretirement benefit plans
On March 1, 2019, the Company closed the acquisition of Beneficial. At the time of acquisition, the Company assumed the pension plan covering certain eligible Beneficial Associates. The plan was frozen in 2008.
The following disclosures relating to Beneficial pension benefits and other postretirement benefit plans were measured at December 31:
202420232022
(Dollars in thousands)Pension BenefitsOther Postretirement BenefitsPension BenefitsOther Postretirement BenefitsPension BenefitsOther Postretirement Benefits
Change in benefit obligation:
Benefit obligation at beginning of year$76,119 $13,471 $75,151 $13,894 $104,695 $18,105 
Service cost— 8 — 14 — 33 
Interest cost3,581 648 3,700 659 2,425 383 
Plan participants' contributions— 41 — 63 — 55 
Actuarial (gain) loss(5,481)68 1,604 256 (26,233)(3,346)
Benefits paid(5,035)(1,382)(4,336)(1,415)(5,736)(1,336)
Benefit obligation at end of year$69,184 $12,854 $76,119 $13,471 $75,151 $13,894 
Change in plan assets:
Fair value of plan assets at beginning of year$82,090 $— $79,287 $— $108,242 $— 
Actual return on plan assets1,439 — 7,499 — (22,867)— 
Employer contribution126 1,341 240 1,352 225 1,281 
Participants' contributions— 41 — 63 — 55 
Benefits paid(5,035)(1,382)(4,336)(1,415)(5,736)(1,336)
Administrative expenses(571)— (600)— (577)— 
Fair value of plan assets at end of year$78,049 $— $82,090 $— $79,287 $— 
Funded (unfunded) status$8,865 $(12,854)$5,971 $(13,471)$4,136 $(13,894)
Amounts recognized in accumulated other comprehensive income(1):
Net loss (gain)$8,370 $(2,386)$9,920 $(2,612)$10,658 $(3,259)
Components of net periodic benefit (income) cost:
Service cost$— $8 $— $14 $— $33 
Interest cost3,581 648 3,700 659 2,425 383 
Expected return on plan assets(4,924)— (4,793)— (6,586)— 
Net loss (gain) recognition129 (158)281 (392)16 — 
Net periodic benefit (income) cost$(1,214)$498 $(812)$281 $(4,145)$416 
(1)Before tax effects
Significant assumptions used to calculate the net periodic benefit cost and obligation for Beneficial postretirement plans as of December 31, 2024 are as follows:
Consolidated Pension Plan202420232022
Discount rate for net periodic benefit cost5.01 %5.24 %2.82 %
Expected return on plan assets6.25 %6.25 %6.25 %
Discount rate for disclosure obligations5.60 %5.01 %5.24 %
Beneficial Bank Other Postretirement
Discount rate for net periodic benefit cost4.96 %5.18 %2.69 %
Discount rate for disclosure obligations5.51 %4.96 %5.18 %
FMS Other Postretirement
Discount rate for net periodic benefit cost4.73 %4.93 %2.07 %
Discount rate for disclosure obligations5.15 %4.73 %4.93 %
Split-Dollar Plan
Discount rate for net periodic benefit cost4.72 %4.92 %2.05 %
Discount rate for disclosure obligations5.13 %4.73 %4.92 %
Estimated future benefit payments:
The following table shows the expected future payments for the next 10 years:
(Dollars in thousands)Pension BenefitsOther Postretirement Benefits
During 2025$4,536 $1,228 
During 20265,120 1,220 
During 20275,497 1,202 
During 20285,020 1,185 
During 20294,641 1,150 
During 2029 through 203325,894 5,129 
$50,708 $11,114 
The fair values and weighted average asset allocations in plan assets of all pension and postretirement plan assets at December 31, 2024 and 2023 by asset category are as follows:
Category Used for Fair Value Measurement
December 31, 2024
(Dollars in thousands)Level 1Level 2Level 3TotalPercent
Assets:
Mutual Funds:
Large cap$3,406 $— $— $3,406 4.4 %
International6,252 — — 6,252 8.0 
Global Managed Volatility5,546 — — 5,546 7.1 
U.S. Managed Volatility2,070 — — 2,070 2.7 
Fixed Income51,592 — — 51,592 66.1 
U.S. Government Agencies— 8,958 — 8,958 11.5 
Pooled separate accounts13 — — 13 — 
Accrued Income212 — — 212 0.2 
Total$69,091 $8,958 $— $78,049 100.0 %
Category Used for Fair Value Measurement
December 31, 2023
(Dollars in thousands)Level 1Level 2Level 3TotalPercent
Assets:
Mutual Funds:
Large cap$3,215 $— $— $3,215 3.9 %
International5,839 — — 5,839 7.1 
Global Managed Volatility5,177 — — 5,177 6.3 
U.S. Managed Volatility1,932 — — 1,932 2.4 
Fixed Income54,878 — — 54,878 66.9 
U.S. Government Agencies— 10,743 — 10,743 13.1 
Pooled Separate Accounts98 — — 98 0.1 
Accrued Income208 — — 208 0.2 
Total$71,347 $10,743 $— $82,090 100.0 %
As of December 31, 2024, pension and postretirement plan assets were comprised of investments in equity mutual funds, fixed income mutual funds, and pooled separate accounts. The Bank’s consolidated pension plan investment policy provides that assets are to be managed over a long-term investment horizon to ensure that the chances and duration of investment losses are carefully weighed against the long-term potential for asset appreciation. The primary objective of managing a plan’s assets is to improve the plan’s funded status. A secondary financial objective is, where possible, to minimize pension expense volatility. The Company’s pension plan allocates assets based on the plan’s funded status to risk management and return enhancement asset classes. The risk management class is comprised of a long duration fixed income fund while the return enhancement class consists of equity and other fixed income funds. Asset allocation ranges are generally 40% to 80% for risk management and 20% to 60% for return enhancement when the funded status is less than 110%, and 50% to 90% in risk management and 10% to 50% for return enhancement when the funded status reaches 110%, subject to the discretion of the Company. Also, a small portion is maintained in cash reserves when appropriate.
The Company has four additional plans which are no longer being provided to current Associates: (1) a Supplemental Pension Plan with a corresponding liability of $0.1 million and $0.2 million for December 31, 2024 and 2023 respectively; (2) an Early Retirement Window Plan with a corresponding liability of $0.1 million for both December 31, 2024 and 2023; (3) a Supplemental Executive Retirement Plan with a corresponding liability of $1.3 million for both December 31, 2024 and 2023, and; (4) a Post-Retirement Medical Plan with a corresponding liability of less than $0.1 million and $0.1 million for December 31, 2024 and 2023, respectively.
v3.25.0.1
INCOME TAXES
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
INCOME TAXES
15. INCOME TAXES
The Company and its subsidiaries file a consolidated federal income tax return and separate state income tax returns. The Company's income tax provision consists of the following:
 
Year ended December 31,
(Dollars in thousands)202420232022
Current income taxes:
Federal taxes$69,589 $81,674 $63,203 
State and local taxes22,337 19,968 18,763 
Deferred income taxes:
Federal taxes(6,817)(5,331)(4,094)
State and local taxes(1,345)(66)89 
Total$83,764 $96,245 $77,961 
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The following is a summary of the significant components of the Company's deferred tax assets and liabilities as of December 31, 2024 and 2023:
 
(Dollars in thousands)20242023
Deferred tax assets:
Allowance for credit losses$42,441 $40,518 
Purchase accounting adjustments—loans8,094 10,285 
Reserves and other accruals33,250 25,093 
Net operating losses2,131 2,725 
Derivatives3,258 2,806 
Lease liabilities31,996 31,835 
Unrealized losses on available-for-sale securities193,956 186,775 
Other(1)
1,379 1,422 
Total deferred tax assets $316,505 $301,459 
Deferred tax liabilities:
Accelerated depreciation(5,735)(5,790)
Right of use assets(27,536)(27,426)
Intangibles(31,278)(33,675)
Other(2)
(3,795)(4,306)
Total deferred tax liabilities(68,344)(71,197)
Net deferred tax asset$248,161 $230,262 
(1)Other deferred tax assets includes investments, deferred gains, tax credits in 2024 and 2023, and reverse mortgages in 2023.
(2)Other deferred tax liabilities includes derivatives, partnership investments, and employee benefit plans in 2024 and 2023, reverse mortgages in 2024, and deferred loan costs in 2023.
Based on the Company's history of prior earnings and its expectations of the future, it is anticipated that operating income and the reversal pattern of its temporary differences will, more likely than not, be sufficient to realize a net deferred tax asset of $248.2 million at December 31, 2024. The Company reduces the carrying amounts of deferred tax assets by a valuation allowance if, based on the available evidence, it is more likely than not that such assets will not be realized. The need to establish valuation allowances for deferred tax assets is assessed quarterly. In assessing the requirement for, and amount of, a valuation allowance in accordance with the more likely than not standard for all periods, the Company considers all positive and negative evidence related to the realization of the deferred tax assets. This assessment considers, among other matters, the generation of future profitability, the reversal of deferred tax liabilities, and tax planning strategies.
The Company has $10.1 million of remaining Federal net operating losses (NOLs). Such NOLs expire beginning in 2030 and, due to Internal Revenue Service (IRS) limitations, $2.8 million are being utilized each year. Accordingly, the Company fully expects to utilize all of these NOLs. The Company has no state NOLs. Finally, the Company has $0.5 million of alternative minimum tax credits that have no expiration date and are fully expected to be utilized.
A reconciliation showing the differences between the Company's effective tax rate and the U.S. Federal statutory tax rate is as follows:
Year ended December 31,
Year Ended December 31,202420232022
Statutory federal income tax rate21.0 %21.0 %21.0 %
State tax, net of federal tax benefit4.7 4.4 5.1 
Tax-exempt interest(0.7)(0.6)(0.5)
Bank-owned life insurance income(0.1)(0.1)— 
Nondeductible acquisition costs— — 0.1 
Federal tax credits, net of amortization(1.3)(0.5)(0.4)
Nondeductible compensation0.1 0.1 0.2 
Nondeductible goodwill— — 0.5 
Surrender of bank-owned life insurance policies— 1.9 — 
Other0.4 0.1 (0.1)
Effective tax rate24.1 %26.3 %25.9 %
ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. Benefits from tax positions are recognized in the financial statements only when it is more-likely-than-not that the tax position will be sustained upon examination by the appropriate taxing authority that would have full knowledge of all relevant information. A tax position that meets the more-likely-than-not recognition threshold is measured at the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. Tax positions that previously failed to meet the more-likely-than-not recognition threshold are recognized in the first subsequent financial reporting period in which that threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not recognition threshold are derecognized in the first subsequent financial reporting period in which that threshold is no longer met. ASC 740 also provides guidance on the accounting for and disclosure of unrecognized tax benefits, interest and penalties.
Based on recent changes in the interest rate environment lowering our yields on our Bank Owned Life Insurance (BOLI) policies and the termination of a stable value protection wrap policy, during 2023, we surrendered $65.5 million of previously acquired BOLI policies. This resulted in a taxable gain of $22.6 million and corresponding income tax charge of $7.1 million
There were no unrecognized tax benefits as of December 31, 2024. The Company records interest and penalties on potential income tax deficiencies as income tax expense. The Company's federal and state tax returns for the 2021 through 2024 tax years are subject to examination as of December 31, 2024. No federal or state income tax return examinations are currently in process. The Company does not expect to record or realize any material unrecognized tax benefits during 2025.
The amortization of the low-income housing credit investments has been reflected as income tax expense in the amount of $5.3 million for the year ended December 31, 2024, compared to $3.9 million and $4.8 million for the years ended December 31, 2023 and December 31, 2022, respectively.
The amount of affordable housing tax credits, amortization and tax benefits recorded as income tax expense for the year ended December 31, 2024 were $5.8 million, $5.3 million and $1.7 million respectively. The carrying value of the investment in affordable housing credits is $94.3 million at December 31, 2024, compared to $87.1 million at December 31, 2023.
v3.25.0.1
STOCK-BASED COMPENSATION
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
STOCK-BASED COMPENSATION
16. STOCK-BASED COMPENSATION
The Company's stock incentive plans provide for the granting of stock options, stock appreciation rights, performance awards, restricted stock, restricted stock units (RSUs), performance-based restricted stock units (PSUs) and other stock based awards or cash incentives that are consistent with the purpose of the incentive plans and interests of the Company. Generally, all time-based awards become fully vested and outstanding stock options and stock appreciation rights become exercisable immediately in the event of a change in control, as defined in the plans.
Upon stockholder approval in 2018, the 2013 Incentive Plan (2013 Plan) was replaced by the 2018 Incentive Plan (2018 Plan). However, outstanding awards under the 2013 Plan remain in effect in accordance with their original terms. The 2018 Plan was amended in 2023 to increase the number of shares of Common Stock available for issuance. The 2018 Plan also includes 261,709 shares from the Bryn Mawr Incentive Plan and the Bryn Mawr Retainer Plan, which were assumed by the Company in connection with the acquisition of Bryn Mawr Bank Corporation. The number of shares reserved for issuance under the 2018 Plan is 6,261,709. The 2018 Plan will terminate on the tenth anniversary of its effective date, after which no awards may be granted. At December 31, 2024, 2,321,904 shares were available for future grants under the 2018 Plan.
During February 2022, the Board of Directors and the Leadership and Compensation Committee (the Committee) approved the Executive Leadership Team Incentive Plan (ELTIP), which provides for new cash and equity awards designed to recognize the rewards and efforts of the Company's executive leadership team for the Company's achievement of certain key measures of short-term success and the value of such success to the Company's longer-term performance. Awards under the ELTIP include short-term incentive (STI) cash bonus awards and long-term incentive (LTI) awards of RSUs and PSUs that will be issued under the Company's 2018 Incentive Plan. LTI awards under the ELTIP will be awarded to the CEO and Executive Vice Presidents that directly report to the CEO or COO in the form of RSUs that vest in equal annual installments over a three-year service period, and PSUs that vest based on a service condition defined as the achievement of a three-year service period and a performance condition based on the Company's cumulative core ROA performance over a three-year period relative to the KBW Nasdaq Regional Bank Index (the KRX Index) for the same period.
Total stock-based compensation expense recognized was $12.7 million ($9.6 million after tax) for 2024, $10.0 million ($7.6 million after tax) for 2023, and $9.0 million ($6.7 million after tax) for 2022. As part of the expense calculation, the Company has elected to recognize forfeitures as they occur. Stock-based compensation expense related to awards granted to Associates is recorded in Salaries, benefits and other compensation; expense related to awards granted to directors and advisory board members is recorded in Other operating expense in the Company's Consolidated Statements of Income.
Stock Options
Stock options are granted with an exercise price not less than the fair market value of the Company's common stock on the date of the grant. No stock options were granted during 2024, 2023, or 2022.
A summary of option activity as of December 31, 2024, and changes during the year the ended December 31, 2024, is presented below: 
 2024
 Shares
Weighted-
Average
Exercise
Price
Weighted-Average Remaining Contractual Term (Years)
Aggregate
Intrinsic
Value (In
Thousands)
Stock Options:
Outstanding at beginning of year252,851 $43.49 2.57$1,106 
Less: Exercised(49,505)37.64 
Expired(32,726)48.62 
Outstanding at end of year170,620 44.20 2.011,524 
Nonvested at end of year14,913 51.84 0.2819 
Exercisable at end of year155,707 43.46 1.901,505 
The aggregate intrinsic value of options exercised was $0.8 million in 2024, $0.5 million in 2023, and $0.8 million in 2022.
The following table summarizes the non-vested stock option activity during the year the ended December 31, 2024: 
 2024
SharesWeighted-Average Exercise PriceWeighted-Average Grant Date Fair Value
Stock Options:
Nonvested at beginning of period49,857 $45.52 $9.17 
Less: Vested(34,944)42.82 8.63 
Nonvested at end of period14,913 51.84 10.44 
The total amount of unrecognized compensation cost related to non-vested stock options as of December 31, 2024 was less than $0.1 million. The weighted-average period over which the expense is expected to be recognized is 0.28 years. During 2024, the Company recognized $0.2 million of compensation expense related to these awards compared to $0.3 million in 2023 and $0.7 million in 2022.
Restricted Stock Units
RSUs are granted at no cost to the recipient and generally vest over a three year period, with the exception of RSUs from the ELTIP which vest over a three year period. Most outstanding awards granted to senior executives vest over no less than a three year period. The 2013 and 2018 Plans allow for awards with vesting periods less than three years, subject to Board approval. The fair value of RSUs is equal to the fair value of the common stock on the date of grant. The expense related to RSUs granted to Associates is recognized in Salaries, benefits and other compensation and granted to directors in Other operating expense on an accrual basis over the requisite service period for the entire award. When restricted stock is awarded to individuals from whom the Company may not receive services in the future, the expense is recognized when the award is granted, instead of amortizing the expense over the vesting period of the award.
The weighted-average fair value of RSUs granted was $44.93 in 2024, $47.68 in 2023, and $49.24 in 2022. The total amount of compensation cost to be recognized relating to nonvested restricted stock units as of December 31, 2024 was $11.8 million. The weighted-average period over which the cost is expected to be recognized is 1.89 years. During 2024, the Company recognized $8.2 million of compensation expense related to these awards compared to $6.3 million in 2023 and $7.5 million in 2022..
The following table summarizes the Company’s RSUs and changes during the year:
Units
(in whole)
Weighted Average
Grant-Date Fair
Value per Unit
Balance at December 31, 2023335,751 $47.85 
Plus: Granted214,816 44.93 
Less: Vested(143,722)47.68 
Forfeited(17,033)46.93 
Balance at December 31, 2024389,812 46.77 
The total fair value of RSUs that vested was $7.0 million in 2024, $5.1 million in 2023, and $4.5 million in 2022.
Performance Stock Units
PSUs are granted at no cost to the recipient and vest based on both service and performance conditions. The service condition is defined as the achievement of a three-year service period beginning January 1 of the year of the award and ending on December 31 of the third year. The service condition can be waived at the discretion of the Committee. The performance condition is based on the Company's cumulative core ROA performance over a three-year period relative to the KRX Index for the same period. The actual number of shares that will vest at the end of the three-year period will be based on the core ROA performance over the three-year period relative to the KRX Index. If such performance is at the 25th percentile, 50th percentile, 75th percentile and 100th percentile, grantees will receive 25%, 50%, 75%, and 100% of their maximum award grant, respectively. The fair value of PSUs is equal to the fair value of the common stock on the date of grant. The expense related to PSUs granted to Associates is recognized in Salaries, benefits and other compensation on an accrual basis over the requisite service period if the performance condition is probable and the service condition is met.
The weighted-average fair value of PSUs granted was $42.39 in 2024, $49.69 in 2023, and $49.76 in 2022. The total amount of compensation cost to be recognized relating to nonvested performance stock units (based on current performance estimates) was $10.7 million as of December 31, 2024. The weighted-average period over which the cost is expected to be recognized is 1.73 years. During 2024, the Company recognized $3.4 million of compensation expense related to these awards compared to $1.6 million in 2023 and $0.9 million in 2022.. The following table summarizes the Company’s PSUs and changes during the year:
Units
(in whole)
Weighted Average
Grant-Date Fair
Value per Unit
Balance at December 31, 2023157,748 $49.72 
Plus: Granted129,802 42.39 
Balance at December 31, 2024287,550 46.78 
Integration Performance RSU Plan: In February 2019, the Board of Directors approved the Integration Performance RSU Plan (“the Integration Plan”), in which certain senior executives were granted awards based on the achievement of three defined goals measuring the success of the integration of Beneficial and execution of the Company's strategic goals over the five-year period ending 2023. The Plan provided for a three-year performance achievement period beginning in 2021 and ending in 2023. In February 2022, the Integration Plan was terminated. In connection with the termination of the Integration Plan, the portion of the related Integration Performance-Based RSU Awards (the Integration Awards) attributable to core ROA was terminated, the Gallup Q12 performance goal was met, and the Committee exercised its discretion under the Integration Plan to deem the Gallup CE3 performance goal met. Thus, 20% of the restricted stock units subject to the Integration Awards will performance vest and become subject to service-based vesting conditions. During 2024 and 2023, the Company recognized $0.1 million of compensation expense related to these awards.
Beneficial Acquisition Success Plan: On December 10, 2020, the Board of Directors approved the Beneficial Acquisition Success Plan (the Success Plan) and granted 66,703 RSUs, vesting in equal installments over three years. The Success Plan was designed to recognize and reward the Company’s achievement of certain key measures of near-term success related to Beneficial and the efforts of the Company’s senior leaders and the value of such success to the Company’s longer term performance. The key measures of success related to Beneficial include acquisition economics, one-time acquisition costs, banking location integration and optimization, customer deposit retention, and cost synergies. During 2023, the RSUs previously issued under the Success Plan fully vested.
Awards from the Integration Plan and the Success Plan were issued under the Company’s 2018 Incentive Plan.
v3.25.0.1
COMMITMENTS AND CONTINGENCIES
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES
17. COMMITMENTS AND CONTINGENCIES
Legal Proceedings
In the ordinary course of business, the Company is subject to legal actions that involve claims for monetary relief. See Note 24 for additional information.
Financial Instruments With Off-Balance Sheet Risk
In the ordinary course of business, the Company is a party to financial instruments with off-balance sheet risk, primarily to meet the financing needs of its Clients. To varying degrees, these financial instruments involve elements of credit risk that are not recognized in the Consolidated Statements of Financial Condition.
Exposure to loss for commitments to extend credit and standby letters of credit written is represented by the contractual amount of those instruments. The Company generally requires collateral to support such financial instruments in excess of the contractual amount of those instruments and use the same credit policies in making commitments as it does for on-balance sheet instruments.
The following represents a summary of off-balance sheet financial instruments at year-end:
 
 December 31,
(Dollars in thousands)20242023
Financial instruments with contract amounts which represent potential credit risk:
Commercial and industrial loan commitments$1,841,169 $1,717,924 
Owner-occupied commercial loan commitments54,162 57,013 
Commercial mortgages loan commitments132,276 136,379 
Construction loan commitments626,847 725,591 
Commercial standby letters of credit101,448 107,031 
Residential loan commitments(1)
12,751 11,797 
Consumer loan commitments(2)
1,476,847 1,363,458 
Total$4,245,500 $4,119,193 
(1)Not reflected in the table above are commitments to sell residential loans of $18.2 million and $16.3 million at December 31, 2024 and 2023, respectively.
(2)Consumer loan commitments of $1.0 billion and $0.6 billion were secured by real estate at December 31, 2024 and 2023, respectively..
Commitments provide for financing on predetermined terms as long as the client continues to meet specific criteria. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being completely drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Standby letters of credit are conditional commitments issued to guarantee the performance of a client to a third party. The Company evaluates each client’s creditworthiness and obtain collateral based on its credit evaluation of the counterparty.
Secondary Market Loan Sales
The Company typically sells newly originated residential loans in the secondary market to mortgage loan aggregators and on a more limited basis, to GSEs, such as FHLMC, FNMA, and the FHLB. Loans held for sale are reflected on the Consolidated Statements of Financial Condition at their fair value with changes in the value reflected in the Consolidated Statements of Income. Gains and losses are recognized at the time of sale. The Company periodically retains the servicing rights on residential loans sold which results in monthly service fee income. The mortgage servicing rights are included in Intangible assets in the Consolidated Statements of Financial Condition. Otherwise, the Company sells loans with servicing released on a nonrecourse basis. Rate-locked loan commitments that the Company intends to sell in the secondary market are accounted for as derivatives under ASC 815, Derivatives and Hedging (ASC 815).
The Company does not sell loans with recourse, except for standard loan sale contract provisions covering violations of representations and warranties and, under certain circumstances, early payment default by the borrower. These are customary repurchase provisions in the secondary market for residential loan sales. These provisions may include either an indemnification from loss or the repurchase of loans. Repurchases and losses have been rare and no provision is made for losses at the time of sale. There were three repurchases for $0.7 million during the year ended December 31, 2024 and one repurchase for $0.8 million during the same period in 2023.
Unfunded Lending Commitments
At December 31, 2024 and December 31, 2023, the allowance for credit losses of unfunded lending commitments was $12.5 million and $12.1 million, respectively. A provision expense for unfunded lending commitments of $0.4 million was recognized during the year ended December 31, 2024, compared to provision expenses for unfunded lending commitments of $0.2 million and $0.3 million during years ended December 31, 2023 and December 31, 2022, respectively.
v3.25.0.1
FAIR VALUE DISCLOSURES OF FINANCIAL ASSETS AND LIABILITIES
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
FAIR VALUE DISCLOSURES OF FINANCIAL ASSETS AND LIABILITIES
18. FAIR VALUE DISCLOSURES OF FINANCIAL ASSETS AND LIABILITIES
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES
ASC 820-10, Fair Value Measurement (ASC 820-10) defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820-10 establishes a fair value hierarchy that prioritizes the use of inputs used in valuation methodologies into the following three levels:
•Level 1: Inputs to the valuation methodology are quoted prices, unadjusted, for identical assets or liabilities in active markets. A quoted price in an active market provides the most reliable evidence of fair value and shall be used to measure fair value whenever available.
•Level 2: Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets; inputs to the valuation methodology include quoted prices for identical or similar assets or liabilities in markets that are not active; or inputs to the valuation methodology that are derived principally from or can be corroborated by observable market data by correlation or other means.
•Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement. Level 3 assets and liabilities include financial instruments whose value is determined using discounted cash flow methodologies, as well as instruments for which the determination of fair value requires significant management judgment or estimation.
The following tables present financial instruments carried at fair value as of December 31, 2024 and December 31, 2023 by level in the valuation hierarchy (as described above):
 
December 31, 2024
(Dollars in thousands)
Quoted Prices in Active Markets
for Identical Asset (Level 1)
Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
Total Fair
Value
Assets measured at fair value on a recurring basis:
Available-for-sale securities:
CMO$— $430,942 $— $430,942 
FNMA MBS— 2,755,579 — 2,755,579 
FHLMC MBS— 105,514 — 105,514 
GNMA MBS— 40,676 — 40,676 
GSE agency notes— 177,937 — 177,937 
Other assets— 170,464 25 170,489 
Total assets measured at fair value on a recurring basis$— $3,681,112 $25 $3,681,137 
Liabilities measured at fair value on a recurring basis:
Other liabilities$— $155,242 $5,270 $160,512 
Assets measured at fair value on a nonrecurring basis:
Other investments$— $— $15,516 $15,516 
Other real estate owned— — 5,204 5,204 
Loans held for sale— 49,699 — 49,699 
Total assets measured at fair value on a nonrecurring basis$— $49,699 $20,720 $70,419 
December 31, 2023
(Dollars in thousands)Quoted Prices in Active Markets
for Identical Asset (Level 1)		Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)Total Fair
Value
Assets measured at fair value on a recurring basis:
Available-for-sale securities:
CMO$— $464,619 $— $464,619 
FNMA MBS— 3,042,350 — 3,042,350 
FHLMC MBS— 115,532 — 115,532 
GNMA MBS— 43,340 — 43,340 
GSE agency notes— 180,696 — 180,696 
Other assets— 153,569 78 153,647 
Total assets measured at fair value on a recurring basis$— $4,000,106 $78 $4,000,184 
Liabilities measured at fair value on a recurring basis:
Other liabilities$— $137,616 $14,026 $151,642 
Assets measured at fair value on a nonrecurring basis:
Other investments$— $— $15,206 $15,206 
Other real estate owned— — 1,569 1,569 
Loans held for sale— 29,268 — 29,268 
Total assets measured at fair value on a nonrecurring basis$— $29,268 $16,775 $46,043 
Fair value is based on quoted market prices, where available. If such quoted market prices are not available, fair value is based on internally developed models or obtained from third parties that primarily use, as inputs, observable market-based parameters. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value. These adjustments may include unobservable parameters. The Company's valuation methodologies may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. While the Company believes its valuation methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date.
Available-for-sale securities
Securities classified as available-for-sale are reported at fair value using Level 2 inputs. The Company believes that this Level 2 designation is appropriate under ASC 820-10, as these securities are GSEs and GNMA securities with almost all fixed income securities, none are exchange traded, and all are priced by correlation to observed market data. For these securities the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, U.S. government and agency yield curves, live trading levels, trade execution data, market consensus prepayment speeds, credit information, and the security’s terms and conditions, among other factors.
Other investments
Other investments includes equity investments without readily determinable fair values, which are categorized as Level 3. The Company’s equity investments without readily determinable fair values are held at cost, and are adjusted for any observable price changes in orderly transactions for the identical or a similar investment of the same issuer during the reporting period.
Other real estate owned
Other real estate owned consists of loan collateral which has been repossessed through foreclosure or other measures. Initially, foreclosed assets are recorded at the fair value of the collateral less estimated selling costs. Subsequent to foreclosure, valuations are updated periodically and the assets may be marked down further, reflecting a new cost basis. The fair value of other real estate owned was estimated using Level 3 inputs based on appraisals obtained from third parties.
Loans held for sale
The fair value of loans held for sale is based on estimates using Level 2 inputs. These inputs are based on pricing information obtained from wholesale mortgage banks and brokers and applied to loans with similar interest rates and maturities.
Other assets
Other assets include the fair value of interest rate products, derivatives on the residential mortgage held for sale loan pipeline, foreign exchange forward contracts, and risk participation agreements. Valuation of interest rate products is obtained from an independent pricing service and also from the derivative counterparty. Valuation of the derivative related to the residential mortgage held for sale loan pipeline is based on valuation of the loans held for sale portfolio as described above in Loans held for sale. Valuation of foreign exchange forward contracts and risk participation agreements are obtained from an independent pricing service.
Other liabilities
Other liabilities include the fair value of interest rate products, derivatives on the residential mortgage held for sale loan pipeline, foreign exchange forward contracts, risk participation agreements, and derivative related to the sale of certain Visa Class B common shares. Valuation of interest rate products is obtained from an independent pricing service and also from the derivative counterparty. Valuation of the derivative related to the residential mortgage held for sale loan pipeline is based on valuation of the loans held for sale portfolio as described above in Loans held for sale. Valuation of foreign exchange forward contracts and risk participation agreements are obtained from an independent pricing service. Valuation of the derivative related to the sale of certain Visa Class B common shares is based on: (i) the agreed upon graduated fee structure; (ii) the length of time until the resolution of the Visa covered litigation; and (iii) the estimated impact of dilution in the conversion ratio of Class B shares resulting from changes in the Visa covered litigation.
FAIR VALUE OF FINANCIAL INSTRUMENTS
The reported fair values of financial instruments are based on a variety of factors. In certain cases, fair values represent quoted market prices for identical or comparable instruments. In other cases, fair values have been estimated based on assumptions regarding the amount and timing of estimated future cash flows that are discounted to reflect current market rates and varying degrees of risk. Accordingly, the fair values may not represent actual values of the financial instruments that could have been realized as of period-end or that will be realized in the future.
The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value:
Cash, cash equivalents, and restricted cash
For cash and short-term investment securities, including due from banks, federal funds sold or purchased under agreements to resell and interest-bearing deposits with other banks, the carrying amount is a reasonable estimate of fair value.
Investment securities
Investment securities include debt securities classified as held-to-maturity or available-for-sale. Fair value is estimated using quoted prices for similar securities, which the Company obtains from a third party vendor. The Company uses one of the largest providers of securities pricing to the industry and management periodically assesses the inputs used by this vendor to price the various types of securities owned by the Company to validate the vendor’s methodology as described above in available-for-sale securities.
Other investments
Other investments includes equity investments without readily determinable fair values (see discussion in “Fair Value of Financial Assets and Liabilities” section above) as well as equity method investments.
Loans held for sale
Loans held for sale are carried at their fair value (see discussion in “Fair Value of Financial Assets and Liabilities” section above).
Loans and leases
Loans and leases are segregated by portfolio segments with similar financial characteristics (see Note 2). The fair values of loans and leases, with the exception of reverse mortgages, are estimated by discounting expected cash flows using the current rates at which similar loans would be made to borrowers with comparable credit ratings and for similar remaining maturities. The fair values of reverse mortgages are based on the net present value of the expected cash flows using a discount rate specific to the reverse mortgages portfolio. The fair value of nonperforming loans is based on recent external appraisals of the underlying collateral, if the loan is collateral dependent. Estimated cash flows, discounted using a rate commensurate with current rates and the risk associated with the estimated cash flows, are used if appraisals are not available. This technique does contemplate an exit price.
Stock in the Federal Home Loan Bank (FHLB) of Pittsburgh
The fair value of FHLB stock is assumed to be equal to its cost basis, since the stock is non-marketable but redeemable at its par value.
Accrued interest receivable
The carrying amounts of interest receivable approximate fair value.
Other assets
Other assets include the fair value of interest rate products, derivatives on the residential mortgage held for sale loan pipeline, foreign exchange forward contracts, and risk participation agreements (see discussion in “Fair Value of Financial Assets and Liabilities” section above).

Deposits
The fair value of deposits with no stated maturity, such as noninterest-bearing demand deposits, money market and interest-bearing demand deposits, is assumed to be equal to the amount payable on demand. The fair value of time deposits is based on the discounted value of contractual cash flows. The discount rate is estimated using rates currently offered for deposits with comparable remaining maturities.
Borrowed funds
Rates currently available to the Company for debt with similar terms and remaining maturities are used to estimate the fair value of existing debt.
Off-balance sheet instruments
The fair value of off-balance sheet instruments, including swap guarantees of $5.5 million and $7.3 million at December 31, 2024 and December 31, 2023, respectively, and standby letters of credit, approximates the recorded net deferred fee amounts. Because letters of credit are generally not assignable by either the Company or the borrower, they only have value to the Company and the borrower. In determining the fair value of the swap guarantees, the Company assesses the underlying credit risk exposure for each borrower in a paying position to the third-party financial institution.
Accrued interest payable
The carrying amounts of interest payable approximate fair value.
Other liabilities
Other liabilities include the fair value of interest rate products, derivatives on the residential mortgage held for sale loan pipeline, foreign exchange forward contracts, risk participation agreements, and derivative related to the sale of certain Visa Class B common shares (see discussion in “Fair Value of Financial Assets and Liabilities” section above).
Financial instruments measured at fair value using significant unobservable inputs (Level 3)
The following table provides a description of the valuation techniques and significant unobservable inputs for the Company's financial instruments classified as Level 3 as of December 31, 2024 and December 31, 2023:
(Dollars in thousands)December 31, 2024
Financial InstrumentFair ValueValuation Technique(s)Unobservable InputRange (Weighted Average)
Other investments$15,516 Observed market comparable transactionsPeriod of observed transactions
December 2023
Other real estate owned5,204 Fair market value of collateralCosts to sell
10.0%
Other assets (Risk participation agreements purchased)25 Credit Value AdjustmentCDS Spread and Loss Given Default (LGD)
CDS spread: 110 - 360 bps (192 bps)
LGD: —% - 30% (30%)
Other liabilities (Risk participation agreements sold)90 Credit Value AdjustmentCDS Spread and Loss Given Default (LGD)
CDS spread: 1 - 250 bps (207 bps)
LGD: 30%
Other liabilities (Financial derivative related to sales of certain Visa Class B shares)5,180 Discounted cash flowTiming of Visa litigation resolution
2.50 years or 2Q 2027
(Dollars in thousands)December 31, 2023
Financial InstrumentFair ValueValuation Technique(s)Unobservable InputRange
(Weighted Average)
Other investments$15,206 Observed market comparable transactionsPeriod of observed transactionsDecember 2023
Other real estate owned1,569 Fair market value of collateralCosts to sell
10.0% - 20.0% (18.1%)
Other assets (Risk participation agreements purchased)78
Credit Value Adjustment
CDS Spread and Loss Given Default (LGD)
CDS spread: 110 - 360 bps (195 bps)
LGD: –% - 30% (30%)
Other liabilities (Risk participation agreements sold)3 
Credit Value Adjustment
CDS Spread and Loss Given Default (LGD)
CDS spread: 1 - 250 bps (95 bps)
LGD: 30%
Other liabilities (Financial derivative related to
sales of certain Visa Class B shares)		14,023 Discounted cash flowTiming of Visa litigation resolution
1.00 - 4.75 years (3.06 years or 4Q 2025)
The book value and estimated fair value of the Company's financial instruments are as follows:
 
December 31,
Fair Value
Measurement
20242023
(Dollars in thousands)Book ValueFair ValueBook ValueFair Value
Financial assets:
Cash, cash equivalents and restricted cashLevel 1$1,154,818 $1,154,818 $1,092,900 $1,092,900 
Investment securities, available for saleLevel 23,510,648 3,510,648 3,846,537 3,846,537 
Investment securities, held to maturity, netLevel 21,015,161 895,511 1,058,557 985,931 
Other investmentsLevel 318,184 18,184 17,434 17,434 
Loans, held for saleLevel 249,699 49,699 29,268 29,268 
Loans and leases, net(1)
Level 312,996,218 13,100,492 12,583,202 12,514,431 
Stock in FHLB of PittsburghLevel 211,805 11,805 15,398 15,398 
Accrued interest receivableLevel 284,671 84,671 85,979 85,979 
Other assetsLevels 2, 3170,489 170,489 153,647 153,647 
Financial liabilities:
DepositsLevel 2$17,029,808 $17,016,839 $16,474,086 $16,449,198 
Borrowed fundsLevel 2383,607 379,154 895,076 912,760 
Standby letters of creditLevel 3776 776 814 814 
Accrued interest payableLevel 238,173 38,173 46,684 46,684 
Other liabilitiesLevels 2, 3160,512 160,512 151,642 151,642 
(1)Includes reverse mortgage loans.
At December 31, 2024 and December 31, 2023 the Company had no commitments to extend credit measured at fair value.
v3.25.0.1
DERIVATIVE FINANCIAL INSTRUMENTS
 12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE FINANCIAL INSTRUMENTS
19. DERIVATIVE FINANCIAL INSTRUMENTS
Risk Management Objective of Using Derivatives
The Company is exposed to certain risks arising from both economic conditions and its business operations. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk, primarily by managing the amount, sources, and duration of its assets and liabilities. The Company manages a matched book with respect to its derivative instruments in order to minimize its net risk exposure resulting from such transactions. The Company does not use derivative financial instruments for proprietary or speculative trading.
Fair Values of Derivative Instruments
The table below presents the fair value of derivative financial instruments as well as their location on the Consolidated Statements of Financial Condition as of December 31, 2024.
 
 Fair Values of Derivative Instruments
(Dollars in thousands)CountNotionalBalance Sheet LocationDerivatives
(Fair Value)
Derivatives designated as hedging instruments:
Interest rate products18 $1,500,000 Other assets$14,265 
Total$1,500,000 $14,265 
Derivatives not designated as hedging instruments:
Interest rate products$2,942,675 Other assets$153,980 
Interest rate products2,942,675 Other liabilities(153,980)
Interest rate lock commitments with clients41,238 Other assets612 
Interest rate lock commitments with clients3,658 Other liabilities(18)
Forward sale commitments 28,927 Other assets200 
Forward sale commitments 27,071 Other liabilities(39)
FX forwards26,716 Other assets1,407 
FX forwards25,924  Other liabilities (1,205)
Risk participation agreements sold110,948  Other liabilities (90)
Risk participation agreements purchased97,201  Other assets 25 
Financial derivative related to sales of
certain Visa Class B shares		55,358 Other liabilities(5,180)
Total derivatives $7,802,391 $9,977 
The table below presents the fair value of derivative financial instruments as well as their location on the Consolidated Statements of Financial Condition as of December 31, 2023.
 Fair Values of Derivative Instruments
(Dollars in thousands)CountNotionalBalance Sheet LocationDerivatives
(Fair Value)
Derivatives designated as hedging instruments:
Interest rate products9 $750,000 Other assets$15,578 
Total$750,000 $15,578 
Derivatives not designated as hedging instruments:
Interest rate products$2,428,306 Other assets$136,924 
Interest rate products2,383,443 Other liabilities(136,924)
Interest rate lock commitments with clients34,651 Other assets637 
Forward sale commitments 1,000 Other assets1 
Forward sale commitments 37,348 Other liabilities(283)
FX forwards15,812 Other assets429 
FX forwards13,064 Other liabilities(409)
Risk participation agreements sold103,648 Other liabilities(3)
Risk participation agreements purchased116,804 Other assets78 
Financial derivative related to sales of certain Visa Class B shares113,177 Other liabilities(14,023)
Total derivatives $5,997,253 $2,005 
Effect of Derivative Instruments on the Income Statement
The table below presents the effect of the derivative financial instruments on the Consolidated Statements of Income for the years ended December 31, 2024, 2023, and 2022.
Amount of (Loss) Gain Recognized in OCI on Derivative (Effective Portion)Location of (Loss) Gain Reclassified from Accumulated OCI into Income (Effective Portion)
(Dollars in thousands)Year Ended December 31,
Derivatives in Cash Flow Hedging Relationships202420232022
Interest Rate Products$(8,894)$1,596 $— Interest income
Total$(8,894)$1,596 $— 
Amount of Gain (Loss) Recognized in IncomeLocation of Gain (Loss) Recognized in Income
(Dollars in thousands)Year Ended December 31,
Derivatives Not Designated as a Hedging Instrument202420232022
Interest rate products$9,412 $10,294 $7,576 Other income
Interest rate lock commitments with clients(34)274 (2,072)Mortgage banking activities, net
Forward sale commitments175 65 4,863 Mortgage banking activities, net
FX forwards524 130 80 Other income
Risk participation agreements(63)(5)(195)Other income
Total$10,014 $10,758 $10,252 
Derivatives designated as hedging instruments:
Cash Flow Hedges of Interest Rate Risk
The Company's objectives in using interest rate derivatives are to add stability to interest income and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate options, including floors, caps, collars, or swaps as part of its interest rate risk management strategy. Interest rate options designated as cash flow hedges involve the receipt of fixed amounts from a counterparty in exchange for the Company making variable-rate payments over the life of the agreements without exchange of the underlying notional amount.
The Company has agreements with certain derivative counterparties that contain a provision under which, if it defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its derivative obligations. The Company also has agreements with certain derivative counterparties that contain a provision where if it fails to maintain its status as a well-capitalized or adequately capitalized institution, then the counterparty could terminate the derivative positions and the Company would be required to settle its obligations under the agreements.
As of December 31, 2024, the Company had 18 interest rate floors purchased at an aggregate premium of $29.7 million with an aggregate notional amount of $1.5 billion to hedge variable cash flows associated with a variable rate loan pool through the third quarter of 2027. Changes to the fair value of derivatives designated and that qualify as cash flow hedges are recorded in accumulated other comprehensive income (loss) and is subsequently reclassified into earnings in the period that the hedged forecast transaction affects earnings. If the Company determines that a cash flow hedge is no longer highly effective, future changes in the fair value of the hedging instrument would be reported in earnings. As of December 31, 2024, the Company determined the cash flow hedges remain highly effective. During the year ended December 31, 2024, $4.6 million of amortization expense on the premium was reclassified into interest income compared to $1.2 million during the year ended December 31, 2023. The Company does not expect any unrealized gains or losses related to cash flow hedges to be reclassified into earnings in the next twelve months.
Derivatives not designated as hedging instruments:
Client Derivatives – Interest Rate Swaps
The Company enters into interest rate swaps with commercial loan clients wishing to manage interest rate risk. The Company then enters into corresponding swap agreements with swap dealer counterparties to economically hedge the exposure arising from these contracts. The interest rate swaps with both the clients and third parties are not designated as hedges under ASC 815, Derivatives and Hedging (ASC 815) and are marked to market through earnings. As the interest rate swaps are structured to offset each other, changes to the underlying benchmark interest rates considered in the valuation of these instruments do not result in an impact to earnings; however, there may be fair value adjustments related to credit quality variations between counterparties, which may impact earnings as required by ASC 820. As of December 31, 2024, there were no fair value adjustments related to credit quality.
Derivative Financial Instruments from Mortgage Banking Activities
Derivative financial instruments related to mortgage banking activities are recorded at fair value and are not designated as accounting hedges. This includes commitments to originate certain fixed-rate residential loans to clients, also referred to as interest rate lock commitments. The Company may also enter into forward sale commitments to sell loans to investors at a fixed price at a future date and trade asset-backed securities to mitigate interest rate risk.
Foreign Exchange Forward Contracts
The Company enters into foreign exchange forward contracts (FX forwards) with clients to exchange one currency for another on an agreed date in the future at an agreed exchange rate. The Company then enters into corresponding FX forwards with swap dealer counterparties to economically hedge its exposure on the exchange rate component of the client agreements. The FX forwards with both the clients and third parties are not designated as hedges under ASC 815 and are marked to market through earnings. Exposure to gains and losses on these contracts increase or decrease over their respective lives as currency exchange and interest rates fluctuate. As the FX forwards are structured to offset each other, changes to the underlying term structure of currency exchange rates considered in the valuation of these instruments do not result in an impact to earnings; however, there may be fair value adjustments related to credit quality variations between counterparties, which may impact earnings as required by ASC 820. As of December 31, 2024, there were no fair value adjustments related to credit quality.
Risk Participation Agreements
The Company may enter into a risk participation agreement (RPA) with another institution as a means to assume a portion of the credit risk associated with a loan structure which includes a derivative instrument, in exchange for fee income
commensurate with the risk assumed. This type of derivative is referred to as an “RPA sold.” In addition, in an effort to reduce the credit risk associated with an interest rate swap agreement with a borrower for whom the Company has provided a loan structured with a derivative, the Company may purchase an RPA from an institution participating in the facility in exchange for a fee commensurate with the risk shared. This type of derivative is referred to as an “RPA purchased.”
The following are not included in the tables in Fair Values of Derivative Instruments:
Swap Guarantees
The Company entered into an agreement with one unrelated financial institution whereby that financial institution entered into interest rate derivative contracts (interest rate swap transactions) directly with clients referred to them by the Company. Under the terms of the agreements, those financial institutions have recourse to us for any exposure created under each swap transaction, only in the event that the client defaults on the swap agreement and the agreement is in a paying position to the third-party financial institution. This is a customary arrangement that allows us to provide access to interest rate swap transactions for our Clients without creating the swap ourselves. These swap guarantees are accounted for as credit derivatives.
At December 31, 2024 and December 31, 2023, there were 154 and 188 variable-rate to fixed-rate swap transactions between the third-party financial institutions and the Company's Clients, respectively. The initial notional aggregate amount was approximately $0.6 billion and $0.7 billion at December 31, 2024 and December 31, 2023, respectively. At December 31, 2024, the swap transactions remaining maturities ranged from under 1 year to 11 years. At December 31, 2024, none of these client swaps were in a paying position to third parties, with our swap guarantees having a fair value of $5.5 million. At December 31, 2023, none of these client swaps were in a paying position to third parties, with the Company's swap guarantees having a fair value of $7.3 million. For both periods, none of the Company's Clients were in default of the swap agreements.
Credit-risk-related Contingent Features
The Company has agreements with certain derivative counterparties that contain a provision under which, if it defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its derivative obligations. The Company also has agreements with certain derivative counterparties that contain a provision where if it fails to maintain its status as a well-capitalized or adequately capitalized institution, then the counterparty could terminate the derivative positions and the Company would be required to settle its obligations under the agreements.
The Company has minimum collateral posting thresholds with certain of its derivative counterparties, and has posted collateral of $1.7 million in cash against its obligations under these agreements which meets or exceeds the minimum collateral posting requirements. If the Company had breached any of these provisions at December 31, 2024, it could have been required to settle its obligations under the agreements at the termination value.
v3.25.0.1
RELATED PARTY TRANSACTIONS
 12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS
20. RELATED PARTY TRANSACTIONS
In the ordinary course of business, from time to time the Company enters into transactions with related parties, including, but not limited to, its officers and directors. They do not, in the opinion of management, involve greater than normal credit risk or include other features unfavorable to the Company. Any related party loans exceeding $0.5 million require review and approval by the Board of Directors. There were no extensions of credit to related parties exceeding $0.5 million originated during the year ended December 31, 2024 and one extension of credit to related parties exceeding $0.5 million originated during the year ended December 31, 2023.
During 2024, all new loans and credit line advances to related parties were $0.2 million and repayments were $0.1 million. The outstanding balances of loans to related parties at both December 31, 2024 and 2023 were $0.4 million. Total deposits from related parties at December 31, 2024 and 2023 were $6.4 million and $9.7 million, respectively.
v3.25.0.1
SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION
21. SEGMENT INFORMATION
As defined in ASC 280, Segment Reporting (ASC 280), an operating segment is a component of an enterprise that engages in business activities from which it may earn revenues and incur expenses, whose operating results are regularly reviewed by the enterprise’s chief operating decision maker (CODM) to make decisions about resources to be allocated to the segment and assess its performance, and for which discrete financial information is available. The Company evaluates performance based on pretax net income relative to resources used, and allocate resources based on these results. The accounting policies applicable to the Company's segments are those that apply to its preparation of the accompanying Consolidated Financial Statements. Based on these criteria, the Company has identified three segments: WSFS Bank, Cash Connect®, and Wealth Management.
The WSFS Bank segment provides financial products to Commercial and Consumer Clients. Commercial and Consumer Banking and other banking business units are operating departments of WSFS Bank. These departments share the same regulators, the same market, many of the same Clients and provide similar products and services through the general infrastructure of the Bank. Accordingly, these departments are not considered discrete segments and are appropriately aggregated in the WSFS Bank segment.
The Company's Cash Connect® segment provides ATM vault cash, smart safe and other cash logistics services through strategic partnerships with several of the largest networks, manufacturers and service providers in the ATM industry. Cash Connect® services non-bank and WSFS-branded ATMs and smart safes nationwide. The balance sheet category Cash in non-owned ATMs includes cash from which fee income is earned through bailment arrangements with clients of Cash Connect®.
The Wealth Management segment provides a broad array of planning and advisory services, investment management, trust services, and credit and deposit products to individual, corporate, and institutional clients. Bryn Mawr Trust® is our predominant Private Wealth Management brand, providing advisory, investment management and trustee services to institutions, affluent and high-net-worth individuals. Private Wealth Management, which includes Private Banking, serves high-net-worth clients and institutions by providing trustee and advisory services, financial planning, customized investment strategies, brokerage products such as annuities and customized banking services including credit and deposit products tailored to its clientele. Private Wealth Management includes businesses that operate under the bank’s charter, through a broker/dealer and as a registered investment advisor (RIA). It generates revenue through fee-only arrangements, net interest income and other fee-only services such as estate administration, trust tax planning and custody. Powdermill® is a multi-family office specializing in providing independent solutions to high-net-worth individuals, families and corporate executives through a coordinated, centralized approach.
The Bryn Mawr Trust Company of Delaware provides personal trust and fiduciary services to families and individuals across the U.S. and internationally. WSFS Institutional Services® provides trustee, agency, bankruptcy administration, custodial and commercial domicile services to institutional, corporate clients and special purpose vehicles.
The following tables show segment results for the years ended December 31, 2024, 2023, and 2022, and represent amounts included in management's reports that are regularly provided to the Company's CODM: Rodger Levenson, Chairman, President and Chief Executive Officer. The CODM evaluates performance based on pretax net income relative to resources used, and allocates resources based on these results.
 
Year Ended December 31, 2024
(Dollars in thousands)
WSFS
Bank
Cash
Connect®
Wealth
Management
Total
Statements of Income
External client revenues:
Interest income$1,040,192 $— $23,390 $1,063,582 
Interest expense318,484 — 39,660 358,144 
Net interest income721,708 — (16,270)705,438 
Noninterest income78,249 114,539 148,132 340,920 
Total external client revenues799,957 114,539 131,862 1,046,358 
Inter-segment revenues:
Interest income31,036 1,441 113,329 145,806 
Interest expense114,770 16,645 14,391 145,806 
Net interest income(83,734)(15,204)98,938 — 
Noninterest income33,933 1,835 1,112 36,880 
Total inter-segment revenues(49,801)(13,369)100,050 36,880 
Total revenue750,156 101,170 231,912 1,083,238 
External client expenses:
Provision for credit losses60,710 — 700 61,410 
Noninterest expenses:
Salaries, benefits and other compensation264,281 10,209 58,192 332,682 
Occupancy expense36,486 28 1,065 37,579 
Equipment expense38,607 — 9,137 47,744 
Professional fees15,286 — 4,878 20,164 
Other segment items(1)
104,180 83,641 11,699 199,520 
Total external client expenses519,550 93,878 85,671 699,099 
Inter-segment expenses
Noninterest expenses2,947 6,293 27,640 36,880 
Total inter-segment expenses2,947 6,293 27,640 36,880 
Total expenses522,497 100,171 113,311 735,979 
Income before taxes$227,659 $999 $118,601 $347,259 
Income tax provision83,764 
Consolidated net income$263,495 
Net loss attributable to noncontrolling interest(176)
Net income attributable to WSFS$263,671 
Supplemental Information
Capital expenditures for the period ended$12,305 $204 $1,749 $14,258 
(1)Other segment items for each reportable segment includes:
WSFS Bank - data processing and operation expense, marketing expense, FDIC expense, loan workout and other credit costs, corporate development expense, restructuring expense, and certain other noninterest expenses.
Cash Connect® - data processing and operation expense, marketing expense, and certain other noninterest expenses, which includes external funding costs.
Wealth Management - data processing and operation expense, marketing expense, FDIC expense, loan workout and other credit costs, and certain other noninterest expenses.
Year Ended December 31, 2023
(Dollars in thousands)WSFS Bank
Cash
Connect®
Wealth
Management
Total
Statements of Income
External client revenues:
Interest income$955,050 $— $21,472 $976,522 
Interest expense221,713 — 29,706 251,419 
Net interest income733,337 — (8,234)725,103 
Noninterest income74,951 82,468 132,452 289,871 
Total external client revenues808,288 82,468 124,218 1,014,974 
Inter-segment revenues:
Interest income28,202 1,384 98,895 128,481 
Interest expense100,279 16,348 11,854 128,481 
Net interest income(72,077)(14,964)87,041 — 
Noninterest income29,199 1,930 568 31,697 
Total inter-segment revenues(42,878)(13,034)87,609 31,697 
Total revenue765,410 69,434 211,827 1,046,671 
External client expenses:
Provision for credit losses87,529 — 542 88,071 
Noninterest expenses:
Salaries, benefits and other compensation229,740 9,395 50,058 289,193 
Occupancy expense40,694 296 1,194 42,184 
Equipment expense35,657 — 6,585 42,242 
Professional fees11,418 — 7,636 19,054 
Other segment items(1)
108,194 49,794 10,972 168,960 
Total external client expenses513,232 59,485 76,987 649,704 
Inter-segment expenses
Noninterest expenses2,498 5,714 23,485 31,697 
Total inter-segment expenses2,498 5,714 23,485 31,697 
Total expenses515,730 65,199 100,472 681,401 
Income before taxes$249,680 $4,235 $111,355 $365,270 
Income tax provision96,245 
Consolidated net income$269,025 
Net loss attributable to noncontrolling interest(131)
Net income attributable to WSFS$269,156 
Supplemental Information
Capital expenditures for the period ended$6,335 $— $71 $6,406 
(1)Other segment items for each reportable segment includes:
WSFS Bank - data processing and operation expense, marketing expense, FDIC expense, loan workout and other credit costs, corporate development expense, restructuring expense, and certain other noninterest expenses.
Cash Connect® - data processing and operation expense, marketing expense, and certain other noninterest expenses, which includes external funding costs.
Wealth Management - data processing and operation expense, marketing expense, FDIC expense, loan workout and other credit costs, and certain other noninterest expenses.
Year Ended December 31, 2022
(Dollars in thousands)WSFS Bank
Cash
Connect®
Wealth
Management
Total
Statements of Income
External client revenues:
Interest income$690,780 $— $13,035 $703,815 
Interest expense37,393 — 3,532 40,925 
Net interest income653,387 — 9,503 662,890 
Noninterest income79,800 55,519 124,815 260,134 
Total external client revenues733,187 55,519 134,318 923,024 
Inter-segment revenues:
Interest income14,348 1,536 46,539 62,423 
Interest expense48,075 9,831 4,517 62,423 
Net interest income(33,727)(8,295)42,022 — 
Noninterest income27,534 1,610 654 29,798 
Total inter-segment revenues(6,193)(6,685)42,676 29,798 
Total revenue726,994 48,834 176,994 952,822 
External client expenses:
Provision for credit losses47,921 — 168 48,089 
Noninterest expenses:
Salaries, benefits and other compensation226,354 8,113 49,438 283,905 
Occupancy expense39,362 299 1,224 40,885 
Equipment expense37,280 — 3,714 40,994 
Professional fees15,485 — 5,391 20,876 
Other segment items(1)
147,518 28,365 11,783 187,666 
Total external client expenses513,920 36,777 71,718 622,415 
Inter-segment expenses
Noninterest expenses2,264 4,720 22,814 29,798 
Total inter-segment expenses2,264 4,720 22,814 29,798 
Total expenses516,184 41,497 94,532 652,213 
Income before taxes$210,810 $7,337 $82,462 $300,609 
Income tax provision77,961 
Consolidated net income$222,648 
Net income attributable to noncontrolling interest273 
Net income attributable to WSFS$222,375 
Supplemental Information
Capital expenditures for the period ended$8,793 $16 $— $8,809 
(1)Other segment items for each reportable segment includes:
WSFS Bank - data processing and operation expense, marketing expense, FDIC expense, loan workout and other credit costs, corporate development expense, restructuring expense, and certain other noninterest expenses.
Cash Connect® - data processing and operation expense, marketing expense, and certain other noninterest expenses, which includes external funding costs.
Wealth Management - data processing and operation expense, marketing expense, FDIC expense, loan workout and other credit costs, and certain other noninterest expenses.
The following table shows significant components of segment net assets as of December 31, 2024 and 2023:
December 31,
20242023
(Dollars in thousands)WSFS
Bank
Cash
Connect®
Wealth
Management		TotalWSFS
Bank
Cash
Connect®
Wealth
Management		Total
Cash and cash equivalents$686,735 $424,907 $43,176 $1,154,818 $600,483 $443,431 $48,986 $1,092,900 
Goodwill753,586 — 132,312 885,898 753,586 — 132,312 885,898 
Other segment assets18,292,205 12,536 468,846 18,773,587 18,191,585 15,654 408,635 18,615,874 
Total segment assets$19,732,526 $437,443 $644,334 $20,814,303 $19,545,654 $459,085 $589,933 $20,594,672 
v3.25.0.1
PARENT COMPANY FINANCIAL INFORMATION
 12 Months Ended
Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]  
PARENT COMPANY FINANCIAL INFORMATION
22. PARENT COMPANY FINANCIAL INFORMATION
Condensed Statements of Income
Year Ended December 31,
(Dollars in thousands)202420232022
Income:
Interest income$1,252 $817 $374 
Realized gain on sale of equity investment2,105 9,493 — 
Unrealized gains on equity investments, net— 2,489 5,379 
Other noninterest income219,063 98,067 251,382 
222,420 110,866 257,135 
Expense:
Interest expense16,661 16,610 11,763 
Other operating expense7,651 6,965 11,489 
24,312 23,575 23,252 
Income before equity in undistributed income of subsidiaries198,108 87,291 233,883 
Equity in undistributed income (loss) of subsidiaries64,429 182,396 (12,672)
Income before taxes262,537 269,687 221,211 
Income tax (benefit) expense(1,134)531 (1,164)
Net income attributable to WSFS$263,671 $269,156 $222,375 

Condensed Statements of Financial Condition
December 31,
(Dollars in thousands)20242023
Assets:
Cash and cash equivalents$275,431 $197,270 
Investment in subsidiaries2,620,282 2,585,151 
Investment in Trusts(1)
2,785 2,785 
Other assets3,943 5,869 
Total assets$2,902,441 $2,791,075 
Liabilities:
Trust preferred borrowings$90,834 $90,638 
Senior and subordinated debt218,631 218,400 
Accrued interest payable822 949 
Other liabilities2,402 3,452 
Total liabilities312,689 313,439 
Stockholders’ equity:
Common stock763 761 
Capital in excess of par value1,996,191 1,984,746 
Accumulated other comprehensive loss(624,877)(593,991)
Retained earnings1,871,523 1,643,657 
Treasury stock(653,848)(557,537)
Total stockholders’ equity of WSFS2,589,752 2,477,636 
Total liabilities and stockholders’ equity of WSFS$2,902,441 $2,791,075 
(1)Includes WSFS Capital Trust III, Royal Bancshares Capital Trust I, and Royal Bancshares Capital Trust II.
Condensed Statements of Cash Flows

Year Ended December 31,
(Dollars in thousands)202420232022
Operating activities:
Net income attributable to WSFS$263,671 $269,156 $222,375 
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed (income) loss of subsidiaries(64,429)(182,396)12,672 
Realized gain on sale of equity investments(2,105)(9,493)— 
Unrealized gains on equity investments— (2,489)(5,379)
Decrease in other assets15,932 31,254 2,569 
(Decrease) increase in other liabilities(747)3,488 812 
Net cash provided by operating activities$212,322 $109,520 $233,049 
Investing activities:
Payments for investment in and advances to subsidiaries(2,511)— — 
Net cash for business combinations$— $— $101,734 
Net cash (used for) provided by investing activities$(2,511)$— $101,734 
Financing activities:
Issuance of common stock and exercise of common stock options$466 $3,298 $3,179 
Redemption of senior and subordinated debt— (30,000)— 
Purchase of treasury stock(96,311)(54,647)(200,083)
Dividends paid(35,805)(36,742)(35,746)
Net cash used for financing activities$(131,650)$(118,091)$(232,650)
Increase (decrease) in cash and cash equivalents$78,161 $(8,571)$102,133 
Cash and cash equivalents at beginning of period197,270 205,841 103,708 
Cash and cash equivalents at end of period$275,431 $197,270 $205,841 
v3.25.0.1
CHANGE IN ACCUMULATED OTHER COMPREHENSIVE LOSS
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
CHANGE IN ACCUMULATED OTHER COMPREHENSIVE LOSS
23. CHANGE IN ACCUMULATED OTHER COMPREHENSIVE LOSS
Accumulated other comprehensive loss includes unrealized gains and losses on available-for-sale investments, unrealized gains and losses on cash flow hedges, as well as unrecognized prior service costs, and actuarial gains and losses on defined benefit post-retirement plans. Changes to accumulated other comprehensive loss are presented net of tax as a component of stockholders' equity. Amounts that are reclassified out of accumulated other comprehensive loss are recorded on the Consolidated Statement of Income either as a gain or loss.
Changes to accumulated other comprehensive loss by component are shown net of taxes in the following tables for the period indicated:
(Dollars in thousands)
Net change in
investment
securities
available for sale
Net change in
investment securities held
to maturity
Net change in
defined benefit
plan
Net change in fair value of derivatives used for cash flow hedges(1)
Net change in
equity method
investments		Total
Balance, December 31, 2021$(33,873)$175 $(4,691)$268 $353 $(37,768)
Other comprehensive (loss) income before reclassifications(2)
(529,660)(119,769)318 — 213 (648,898)
Less: Amounts reclassified from accumulated other comprehensive income (loss)— 11,091 (109)(160)— 10,822 
Net current-period other comprehensive (loss) income(529,660)(108,678)209 (160)213 (638,076)
Balance, December 31, 2022$(563,533)$(108,503)$(4,482)$108 566 $(675,844)
Other comprehensive income (loss) before reclassifications63,601 — 132 1,596 (85)65,244 
Less: Amounts reclassified from accumulated other comprehensive income (loss)— 16,980 (264)(107)— 16,609 
Net current-period other comprehensive income (loss)63,601 16,980 (132)1,489 (85)81,853 
Balance, December 31, 2023$(499,932)$(91,523)$(4,614)$1,597 $481 $(593,991)
Other comprehensive (loss) income before reclassifications(37,857)— 991 (8,894)(52)(45,812)
Less: Amounts reclassified from accumulated other comprehensive income (loss)— 15,118 (192)— — 14,926 
Net current-period other comprehensive (loss) income(37,857)15,118 799 (8,894)(52)(30,886)
Balance, December 31, 2024$(537,789)$(76,405)$(3,815)$(7,297)$429 $(624,877)
(1)Includes amortization of net gain for cash flow hedges terminated as of April 1, 2020.
(2)Includes $119.8 million, net of tax, of unrealized losses on transferred investment securities from available-for-sale to held-to-maturity.
Components of other comprehensive income (loss) that impact the Consolidated Statements of Income are presented in the table below.
 Twelve Months Ended December 31,
Affected line item in
Consolidated Statements of
Income
(Dollars in thousands)202420232022 
Net unrealized holding losses on securities transferred between available-for-sale and held-to-maturity:
Amortization of net unrealized losses to income during the period$19,892 $22,343 $14,593 Net interest income
Income taxes(4,774)(5,363)(3,502)Income tax provision
Net of tax$15,118 $16,980 $11,091 
Amortization of defined benefit pension plan-related items:
Prior service credits$(76)$(76)$(76)
Actuarial gains(176)(271)(68)
Total before tax$(252)$(347)$(144)Salaries, benefits and
other compensation
Income taxes60 83 35 Income tax provision
Net of tax$(192)$(264)$(109)
Net unrealized gains on terminated cash flow hedges:
Amortization of net unrealized gains to income during the period$— $(141)$(211)Interest and fees on loans and leases
Income taxes— 34 51 Income tax provision
Net of tax$— $(107)$(160)
Total reclassifications$14,926 $16,609 $10,822 
v3.25.0.1
LEGAL AND OTHER PROCEEDINGS
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
LEGAL AND OTHER PROCEEDINGS
24. LEGAL AND OTHER PROCEEDINGS
In accordance with the current accounting standards for loss contingencies, the Company establishes liabilities for litigation-related matters that arise in the ordinary course of its business activities when it is probable that a loss associated with a claim or proceeding has been incurred and the amount of the loss can be reasonably estimated. Litigation claims and proceedings of all types are subject to many uncertain factors that generally cannot be predicted with assurance. In addition, the Company's defense of litigation claims may result in legal fees, which it expenses as incurred.
On November 16, 2022, Prophet Mortgage Opportunities, LP (Prophet) filed a a complaint against WSFS Bank and the RBSHD 2013-1 Trust in the United States District Court for the Southern District of New York alleging that the Bank, in its capacity as owner trustee and indenture trustee in a Residential Mortgage-Backed Securities (RMBS) trust, was responsible for certain actions directed by the trust’s majority certificate holder, which allegedly diminished the value of the notes and depleted the value of the trust’s assets. The complaint seeks damages in an amount to be proven at trial of not less than $40.0 million. The Bank disputes the factual allegations and denies liability. Based on the inherent uncertainty of this matter, it is reasonably possible that the Bank may incur a loss and has recorded an estimated liability of $1.0 million for this matter. The Bank, in accordance with its normal procedures, has notified its insurance carriers of a possible claim. The Bank is vigorously defending itself in this matter and believes it has valid factual and legal defenses.
On October 3, 2022, Mary Elizabeth Gibbons filed a petition against WSFS Bank, in its individual capacity, in the Circuit Court of St. Louis County for the State of Missouri asserting claims and seeking damages related to an alleged injury that occurred on a property that was allegedly held by the Bank as owner trustee of a RMBS trust. The Plaintiff sought in excess of $25.0 thousand in damages and other equitable relief. On June 6, 2023, the court entered a default judgment against the Bank in the amount of $15.0 million, plus post-judgment interest. On January 3, 2025, the Bank received notice that the plaintiff seeks to domesticate and execute on the Missouri judgment by filing an action in the Philadelphia Court of Common Pleas. Based on the inherent uncertainty of this matter, it is reasonably possible that the Bank may incur a loss in the range of $0.0-$15.0 million. The Bank, in accordance with its normal procedures, notified its insurance carriers of a possible claim. The Bank disputes the judgment, the Bank's connection to the property, and denies liability.
There were no material changes or additions to other significant pending legal or other proceedings involving the Company other than those arising out of routine operations.
v3.25.0.1
SUBSEQUENT EVENTS
 12 Months Ended
Dec. 31, 2024
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS
25. SUBSEQUENT EVENTS
The Company evaluated subsequent events in accordance with ASC Topic 855 and determined that the following qualifies as a non-recognized subsequent event:

Extinguishment of Debt

On January 30, 2025, the Company notified holders of the $70.0 million of fixed-to-floating rate subordinated notes due 2027 (the 2027 Notes) acquired from Bryn Mawr Trust that it would be redeeming the outstanding 2027 Notes. The Company anticipates completing the redemption in the first quarter of 2025 at a price of 100% of the outstanding principal amount of the 2027 Notes, plus accrued and unpaid interest through the date of redemption.
v3.25.0.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Net Income (Loss) Attributable to Parent $ 263,671 $ 269,156 $ 222,375
v3.25.0.1
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.0.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.0.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
The Company maintains an Information Security Program to safeguard all WSFS information assets against unauthorized use, disclosure, modification, damage, or loss. Information Security, in conjunction with Operations, Technology, and Executive Leadership, work together to provide and maintain security processes and procedures pursuant to which the Company will:
•Ensure the security and confidentiality of client and bank records covered by law.
•Protect against any anticipated threats or hazards to the security of such records.
•Protect against the unauthorized access or use of such records or information in ways that could result in substantial harm to the Company, our Clients, and Associates.
•Establish guidelines and practices for ensuring Information Technology compliance to external and regulatory requirements.
•Ensure proper and effective Business Continuity and Disaster Recovery programs are implemented and tested.
The Company's Chief Information Security Officer (CISO) is designated as the program coordinator responsible for coordinating and overseeing the program.
Our Information Security Department performs annual risk assessments to evaluate the effectiveness of the controls as set forth in the Information Security Program to support the requirements under Gramm-Leach Bliley Act (GLBA), and Federal Financial Institutions Examination Council (FFIEC) Guidance on Securing Customer Information. The focus areas include:
•technology systems used for information that is collected, processed and stored;
•assessing internal and external cybersecurity threats and vulnerabilities;
•performing regular penetration and controls testing;
•evaluation and assessment of impact should the information or systems become compromised;
•evaluation for the effectiveness of the governance structure for Information security risk management.
Internal and external Penetration Testing is performed annually. Tests are conducted or reviewed by independent third parties or qualified Associates independent of those that develop or maintain the security program. Testing is performed annually by third party auditors contracted through the Company's Risk Management Department. Management reviews test results promptly and ensures that appropriate steps are taken to address adverse test results. Remediation efforts are organized and made available to the Risk Committee of the Board of Directors (Risk Committee) as well as for review by third party auditors and examiners.
The Company's Cybersecurity Committee is responsible for providing overall direction to reduce risk to company and Client data that resides in various systems, both in-house and with third parties. The committee duties are to ensure the confidentiality, integrity, and availability of such information. Further, the Cybersecurity Committee is responsible for (1) prioritization of Enterprise Strategic Planning for cybersecurity, (2) the review and approval corporate cybersecurity risk tolerance, (3) monitoring of cybersecurity threats and trends, (4) support of cross-functional collaboration on cybersecurity activities, and (5) promotion and support of cybersecurity awareness and decisions across the enterprise.
The Company has implemented a Cybersecurity Incident Response Plan (CSIRP), which is integrated into its Master Business Continuity Plan, to identify, assess and respond to cybersecurity threats. The CSIRP provides a well-defined, consistent, and organized approach to information security related incidents and is supplemented by playbooks designed to respond to specific attacks. The CSIRP requires approval by the Executive Leadership Team under the Cybersecurity Committee and is governed by the Continuity of Operations Policy that is approved annually by the Board of Directors.
The Company is not aware of any cybersecurity threats, including as a result of any previous cybersecurity incidents, that have materially affected or are reasonably likely to materially affect the Company's business strategy, results of operations or financial condition.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
The Company maintains an Information Security Program to safeguard all WSFS information assets against unauthorized use, disclosure, modification, damage, or loss. Information Security, in conjunction with Operations, Technology, and Executive Leadership, work together to provide and maintain security processes and procedures pursuant to which the Company will:
•Ensure the security and confidentiality of client and bank records covered by law.
•Protect against any anticipated threats or hazards to the security of such records.
•Protect against the unauthorized access or use of such records or information in ways that could result in substantial harm to the Company, our Clients, and Associates.
•Establish guidelines and practices for ensuring Information Technology compliance to external and regulatory requirements.
•Ensure proper and effective Business Continuity and Disaster Recovery programs are implemented and tested.
The Company's Chief Information Security Officer (CISO) is designated as the program coordinator responsible for coordinating and overseeing the program.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block] Our Information Security Policy and Information Security Program are the standards used to protect the Bank’s confidential information. The Information Security Policy is annually reviewed, updated, and approved by the Risk Committee and the Board of Directors.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]
The CISO reports security related incidents, findings, changes, etc. to the Risk Committee, on an annual basis or quarterly as needed. This information is communicated through the Company's Risk Department. The CISO has more than 25 years of experience in the information security field, including 23 years at WSFS, and holds several professional certifications and memberships in the Information Security, IT, and financial services fields.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]
The CISO reports security related incidents, findings, changes, etc. to the Risk Committee, on an annual basis or quarterly as needed. This information is communicated through the Company's Risk Department. The CISO has more than 25 years of experience in the information security field, including 23 years at WSFS, and holds several professional certifications and memberships in the Information Security, IT, and financial services fields.
The Board and Senior Management are charged with the ultimate responsibility for understanding the company’s risk environment. A Management Risk Committee, chaired by our Chief Risk Officer (CRO), is responsible to oversee the Company’s risk management program on an enterprise-wide basis.
The Company has dedicated incident management and response teams in place to facilitate response protocols and execute designed strategies necessary to mitigate business risk and support recovery initiatives. The Incident Management Team structure is based on the Incident Command System and follows a flexible, adaptable approach with response team membership designed to support expanding response team needs. An Incident Response Task Force (IRTF) is in place to oversee the assessment of cybersecurity incidents and operational response needs. The CISO and the Head of Regulatory Affairs/Relations co-lead IRTF response.
Cybersecurity Risk Role of Management [Text Block]
The CISO reports security related incidents, findings, changes, etc. to the Risk Committee, on an annual basis or quarterly as needed. This information is communicated through the Company's Risk Department. The CISO has more than 25 years of experience in the information security field, including 23 years at WSFS, and holds several professional certifications and memberships in the Information Security, IT, and financial services fields.
The Board and Senior Management are charged with the ultimate responsibility for understanding the company’s risk environment. A Management Risk Committee, chaired by our Chief Risk Officer (CRO), is responsible to oversee the Company’s risk management program on an enterprise-wide basis.
The Company has dedicated incident management and response teams in place to facilitate response protocols and execute designed strategies necessary to mitigate business risk and support recovery initiatives. The Incident Management Team structure is based on the Incident Command System and follows a flexible, adaptable approach with response team membership designed to support expanding response team needs. An Incident Response Task Force (IRTF) is in place to oversee the assessment of cybersecurity incidents and operational response needs. The CISO and the Head of Regulatory Affairs/Relations co-lead IRTF response.
The CSIRP includes a framework to timely report cybersecurity incidents to our Executive Leadership Team. The severity of an incident is based on perceived impacts that include the severity of damage, compromise, or loss, and probability of further exploitation or escalation. The Chief Information Officer (CIO) and CRO are notified of all incidents that are determined to be
significant. based on perceived impacts of the incident or event. The Chief Executive Officer and Board of Directors are notified of these incidents by the CIO and CRO as necessary.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]
The CISO reports security related incidents, findings, changes, etc. to the Risk Committee, on an annual basis or quarterly as needed. This information is communicated through the Company's Risk Department. The CISO has more than 25 years of experience in the information security field, including 23 years at WSFS, and holds several professional certifications and memberships in the Information Security, IT, and financial services fields.
The Board and Senior Management are charged with the ultimate responsibility for understanding the company’s risk environment. A Management Risk Committee, chaired by our Chief Risk Officer (CRO), is responsible to oversee the Company’s risk management program on an enterprise-wide basis.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] The CISO has more than 25 years of experience in the information security field, including 23 years at WSFS, and holds several professional certifications and memberships in the Information Security, IT, and financial services fields.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]
The CISO reports security related incidents, findings, changes, etc. to the Risk Committee, on an annual basis or quarterly as needed. This information is communicated through the Company's Risk Department. The CISO has more than 25 years of experience in the information security field, including 23 years at WSFS, and holds several professional certifications and memberships in the Information Security, IT, and financial services fields.
The Board and Senior Management are charged with the ultimate responsibility for understanding the company’s risk environment. A Management Risk Committee, chaired by our Chief Risk Officer (CRO), is responsible to oversee the Company’s risk management program on an enterprise-wide basis.
The Company has dedicated incident management and response teams in place to facilitate response protocols and execute designed strategies necessary to mitigate business risk and support recovery initiatives. The Incident Management Team structure is based on the Incident Command System and follows a flexible, adaptable approach with response team membership designed to support expanding response team needs. An Incident Response Task Force (IRTF) is in place to oversee the assessment of cybersecurity incidents and operational response needs. The CISO and the Head of Regulatory Affairs/Relations co-lead IRTF response.
The CSIRP includes a framework to timely report cybersecurity incidents to our Executive Leadership Team. The severity of an incident is based on perceived impacts that include the severity of damage, compromise, or loss, and probability of further exploitation or escalation. The Chief Information Officer (CIO) and CRO are notified of all incidents that are determined to be
significant. based on perceived impacts of the incident or event. The Chief Executive Officer and Board of Directors are notified of these incidents by the CIO and CRO as necessary.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation
The Consolidated Financial Statements are prepared in conformity with accounting principles generally accepted in the U.S. (GAAP). In preparing the Consolidated Financial Statements, the Company is required to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Although the Company's estimates contemplate current conditions and how it expects them to change in the future, it is reasonably possible that actual conditions in 2025 could be worse than anticipated in those estimates, which could materially affect its results of operations and financial condition. The accounting for the allowance for credit losses (including loans and leases held for investment, investment securities available-for-sale and held-to-maturity), loans held for sale, lending-related commitments, goodwill, intangible assets, post-retirement benefit obligations, the fair value of financial instruments, and income taxes are subject to significant estimates. Among other effects, changes to these estimates could result in future impairments of investment securities, goodwill and intangible assets, the establishment of additional allowance and lending-related commitment reserves, changes in the fair value of financial instruments, as well as increased post-retirement benefits and income tax expense.
All significant intercompany accounts and transactions were eliminated in consolidation.
Cash, Cash Equivalents and Restricted Cash
Cash, Cash Equivalents and Restricted Cash
For purposes of reporting cash flows, cash, cash equivalents and restricted cash include cash, cash in non-owned ATMs, amounts due from banks, federal funds sold and securities purchased under agreements to resell and cash collateral held for derivatives, including a financial derivative related to the sale of certain Visa Class B shares.
Debt and Equity Securities
Debt Securities
Debt securities mostly include mortgage-backed securities (MBS), municipal bonds, and U.S. government and agency securities and are classified into one of the following three categories and accounted for as follows:

•Securities purchased with the intent of selling them in the near future are classified as “trading” and reported at fair value, with unrealized gains and losses included in earnings.
•Securities purchased with the positive intent and ability to hold to maturity are classified as “held to maturity” and reported at amortized cost.
•Securities not classified as either trading or held to maturity are classified as “available-for-sale” and reported at fair value, with unrealized gains and losses excluded from earnings and reported, net of tax, as a separate component of stockholders’ equity in accumulated other comprehensive income (loss).

Realized gains and losses are determined using the specific identification method and included on the Consolidated Statements of Income. All sales are made without recourse.
The fair value of debt securities is primarily obtained from third-party pricing services. Implicit in the valuation of MBS are estimated prepayments based on historical and current market conditions.
Premiums and discounts on MBS collateralized by residential 1-4 family loans are recognized in interest income using a level yield method over the period to expected maturity. Premiums and discounts on all other securities are recognized on a straight-line basis over the period to expected maturity, with the exception of premiums on callable debt securities, which are recognized over the period to the earliest call date.
A debt security is placed on nonaccrual status at the time any principal or interest payments are contractually past due 90 days or more. Interest accrued but not received for a security placed on nonaccrual status is reversed against interest income.
The Company's investment portfolio is reviewed each quarter for indications of potential credit losses. Refer to the respective held-to-maturity and available-for-sale debt securities sections for the allowance for credit loss policies for each portfolio.
Equity Investments
The Company has equity investments that are accounted for in accordance with both ASC 321-10, Investments - Equity Securities and ASC 323-10, Investments - Equity Method and Joint Ventures. Our equity investments are recorded in Other investments on the Consolidated Statements of Financial Condition.
Equity investments recorded in accordance with ASC 321-10 are classified into one of the following two categories and accounted for as follows:
•Investments with a readily determinable fair value are reported at fair value, with unrealized gains and losses included in earnings. Any dividends received are recorded in interest income.
•Investments without a readily determinable fair value are reported at cost less impairment, if any, plus or minus adjustments resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer. Any dividends received are recorded in interest income.
For equity investments without readily determinable fair values, when an orderly transaction for the identical or similar investment of the same issuer is identified, the Company uses valuation techniques permitted under ASC 820, Fair Value Measurement, to evaluate the observed transaction(s) and adjust the carrying value.
ASC 321-10 also provides impairment accounting guidance for equity investments without readily determinable fair values. The qualitative assessment to determine whether impairment exists requires the use of the Company's judgment. If, after completing the qualitative assessment, the Company concludes an equity investment without a readily determinable fair value is impaired, a loss for the difference between the equity investment’s carrying value and its fair value may be recognized as a reduction to noninterest income in the Consolidated Statements of Income.
Equity investments recorded in accordance with ASC 323-10 are initially recorded at cost based on the Company’s percentage ownership in the investee. Subsequently, the carrying amount of the investment is adjusted to reflect the recognition of the Company’s proportionate share of income or loss of the investee based on the investee’s earnings for the reporting period, recorded on a one-quarter lag.
The Company assesses its equity method investments for impairment using ASC 323-10 guidance. The qualitative assessment to determine whether impairment exists requires the use of the Company’s judgment. If, after completing the qualitative assessment, the Company concludes an equity method investment is impaired, a loss for the difference between the equity investment’s carrying value and its fair value may be recognized in Unrealized gains on equity investments, net on the Consolidated Statements of Income. After an impairment charge is recorded, the new cost basis cannot be subsequently written up to a higher value as a result of increases in fair value.
Allowance for Credit Losses
Allowance for Credit Losses - Held-to-Maturity Debt Securities
The Company follows Accounting Standards Codification (ASC) 326-20, Financial Instruments - Credit Loss - Measured at Amortized Cost, to measure expected credit losses on held-to-maturity debt securities on a collective basis by security investment grade. The estimate of expected credit losses considers historical credit loss information adjusted by a security's credit rating.
The Company classifies the held-to-maturity debt securities into the following major security types: mortgage backed securities and state and political subdivisions. These securities are highly rated with a history of no credit losses, and are assigned ratings based on the most recent data from ratings agencies depending on the availability of data for the security. Credit ratings of held-to-maturity debt securities, which are a significant input in calculating the expected credit loss, are reviewed on a quarterly basis.
Accrued interest receivable on held-to-maturity debt securities is excluded from the estimate of credit losses and is included in Accrued interest receivable on the Consolidated Statements of Financial Condition.
Allowance for Credit Losses - Available-for-Sale Debt Securities
The Company follows ASC 326-30, Financial Instruments - Credit Loss - Available-for-Sale Debt Securities, which provides guidance related to the recognition of and expanded disclosure requirements for expected credit losses on available-for-sale debt securities. For available-for-sale debt securities in an unrealized loss position, the Company first evaluates whether it intends to sell, or if it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either criterion is met, the security's amortized cost basis is reduced to fair value and recognized as a reduction to Noninterest income in the Consolidated Statements of Income.
For debt securities available-for-sale in which the Company does not intend to sell, or it is not likely the security would be required to be sold before recovery, it evaluates whether a decline in fair value has resulted from credit losses or other adverse factors, such as a change in the security's credit rating. In assessing whether a credit loss exists, the Company compares the present value of cash flows expected to be collected from the security with the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance is recorded, limited to the fair value of the security.
The Company performs these analyses on a quarterly basis to review the conditions and risks associated with the individual securities. Credit losses on an impaired security is measured using the present value of expected future cash flows. Any impairment not recorded through an allowance for credit loss is included in other comprehensive income (loss), net of the tax effect. The Company is required to use its judgment in determining impairment in certain circumstances.
Allowance for Credit Losses - Loans and Leases
The Company establishes its allowance in accordance with guidance provided in ASC 326, Financial Instruments - Credit Losses. The allowance for credit losses includes quantitative and qualitative factors that comprise the Company's current estimate of expected credit losses, including the Company's portfolio mix and segmentation, modeling methodology, historical loss experience, relevant available information from internal and external sources relating to qualitative adjustment factors, prepayment speeds and reasonable and supportable forecasts about future economic conditions.
The Company's portfolio segments, established based on similar risk characteristics and loss behaviors, are:
•Commercial Loans and Leases: Commercial and industrial - real estate secured, commercial and industrial - non-real estate secured, owner-occupied commercial, commercial mortgages, construction and commercial small business leases, and
•Residential and Consumer Loans: Residential mortgage, equity secured lines and loans, installment loans, unsecured lines of credit, originated education loans and previously acquired education loans.
Expected credit losses are net of expected recoveries and estimated over the contractual term, adjusted for expected prepayments. The contractual term excludes any extensions, renewals and modifications unless they are not unconditionally cancellable. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. Expected prepayments are based on historical experience and considers adjustments for current and future economic conditions.
The allowance includes two primary components: (i) an allowance established on loans which share similar risk characteristics collectively evaluated for credit losses (collective basis) and (ii) an allowance established on loans which do not share similar risk characteristics with any loan segment and are individually evaluated for credit losses (individual basis).
Loans that share similar risk characteristics are collectively reviewed for credit loss and are evaluated based on historical loss experience, adjusted for current economic conditions and future economic forecasts. Estimated losses are determined differently for commercial and residential and consumer loans, and each commercial segment is further segmented by internally assessed risk ratings.
The Company uses a single scenario third-party economic forecast to adjust the calculated historical loss rates of the portfolio segments to incorporate the effects of current and future economic conditions. The Company's economic forecast considers the general health of the economy, the interest rate environment, real estate pricing and market risk. The Company's forecast extends out 6 quarters (the forecast period) and reverts to the historical loss rates on a straight-line basis over 4 quarters (the reversion period) as it believes this to be reasonable and supportable in the current environment. The economic forecast and reversion periods will be evaluated periodically by the Company and updated as appropriate.
The historical loss rates for commercial loans are estimated by determining the probability of default (PD) and expected loss given default (LGD) and are applied to the loans' exposure at default. The probability of default is calculated based on the historical rate of migration to an event of credit loss during the look-back period. The historical loss rates for consumer loans are calculated based on average net loss rates over the same look-back period. The current look-back period is 56 quarters which ensures historical loss rates are adequately considering losses within a full credit cycle.
Loans that do not share similar risk characteristics with any loan segments are evaluated on an individual basis. These loans, which may include troubled loans, are not included in the collective basis evaluation. When it is probable the Company will not collect all principal and interest due according to their contractual terms, which is assessed based on the credit characteristics of the loan and/or payment status, these loans are individually reviewed and measured for potential credit loss.
The amount of the potential credit loss is measured using any of the following three methods: (i) the present value of expected future cash flows discounted at the loan’s effective interest rate; (ii) the fair value of collateral if the loan is collateral dependent; or (iii) the loan’s observable market price. If the measured fair value of the loan is less than the amortized cost basis of the loan, an allowance for credit loss is recorded.
For collateral dependent loans, the expected credit losses at the individual asset level are the difference between the collateral's fair value (less cost to sell) and the amortized cost.
Qualitative adjustment factors consider various internal and external conditions which are allocated among loan segments and take into consideration:
•Current underwriting policies, staffing and portfolio concentrations,
•Risk rating accuracy and credit administration,
•Internal risk emergence (including internal trends of delinquency, and criticized loans by segment),
•Economic forecasts and conditions - locally and nationally (including market trends impacting collateral values), which is separate from or in addition to the third-party economic forecast described above, and
•Competitive environment, as it could impact loan structure and underwriting.
These factors are based on their relative standing compared to the period in which historical losses are used in quantitative reserve estimates and current directional trends, and reasonable and supportable forecasts. Qualitative factors can add to or subtract from quantitative reserves.
The Company's loan officers and risk managers meet at least quarterly to discuss and review the conditions and risks associated with individual problem loans. In addition, various regulatory agencies periodically review the Company's loan ratings and allowance for credit losses and the Bank's internal loan review department performs recurring loan reviews.
Accrued interest receivable on loans is excluded from the estimate of credit losses and is included in Accrued interest receivable on the Consolidated Statements of Financial Condition.
Loans and Leases
Loans and leases
Loans and leases held for investment are recorded at amortized cost, net of allowance for credit losses. Amortized cost is the amount at which a financial asset is originated or acquired, adjusted for the amortization of premium and discount, net deferred fees or costs, collection of cash, and write-offs. Interest income on loans is recognized using the level yield method. Loan origination fees, commitment fees and direct loan origination costs are deferred and recognized over the life of the related loans using a level yield method over the period to maturity.
Past Due and Nonaccrual Loans
Past due loans are defined as loans contractually past due 90 days or more as to principal or interest payments. Past due loans 90 days or more that remain in accrual status are considered well secured and in the process of collection.
Nonaccruing loans are those on which the accrual of interest has ceased. Loans are placed on nonaccrual status immediately if, in the opinion of the Company, collection is doubtful, or when principal or interest is past due 90 days or more and the loan is not well secured and in the process of collection. Interest accrued but not collected at the date a loan is placed on nonaccrual status is reversed and charged against interest income. In addition, the amortization of net deferred loan fees is suspended when a loan is placed on nonaccrual status. Subsequent cash receipts are applied either to the outstanding principal balance or recorded as interest income, depending on the Company’s assessment of the ultimate collectability of principal and interest. Loans are returned to accrual status when the Company assesses that the borrower has the ability to make all principal and interest payments in accordance with the terms of the loan (i.e., a consistent repayment record, generally six consecutive payments, has been demonstrated).
For loans greater than 90 days past due, unless loans are well-secured and collection is imminent, their respective reserves are generally charged off once the loss has been confirmed. Expected recoveries do not exceed the aggregate of amounts previously charged off.
A loan, for which the terms have been modified in the form of principal forgiveness, an interest rate reduction, an other than-insignificant payment delay, or a term extension to a borrower experiencing financial difficulty, is considered a troubled loan. The assessment of whether a borrower is experiencing financial difficulty is made on the date of a modification.
Principal balances are generally not forgiven when a loan is modified as a troubled loan. Nonaccruing troubled loans remain in nonaccrual status until there has been a period of sustained repayment performance demonstrated and repayment is reasonably assured. Since the effect of most troubled loans are already included in the Company’s estimate of expected credit losses, a change to the allowance for credit losses is generally not recorded upon modification.
Unfunded Lending Commitments
For unfunded lending commitments, the Company estimates expected credit losses over the contractual period in which the Company is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Company. The estimate includes consideration of the probability of default and utilization rate at default to calculate expected credit losses on commitments expected to be funded based on historical losses.
The allowance for credit losses for off-balance sheet exposures is included in Other liabilities on the Consolidated Statements of Financial Condition and the provision for credit losses for off-balance sheet exposure is included in Loan workout and other credit costs on the Consolidated Statements of Income.
For additional detail regarding unfunded lending commitments, see Note 17.
Loans Held for Sale
Mortgage loans held for sale are recorded at fair value on a loan level basis, using pricing information obtained from secondary markets and brokers and applied to loans with similar interest rates and maturities.
Other loans held for sale are carried at the lower of amortized cost or estimated fair value. The estimated fair value is based on pricing information from secondary markets and brokers, when available, or a discounted cash flow analysis when market information is unavailable.
Other Real Estate Owned
Other Real Estate Owned
Upon initial receipt, other real estate owned (OREO) is recorded at the estimated fair value less costs to sell. Costs subsequently incurred to improve the assets are capitalized, provided that the resultant carrying value does not exceed the estimated fair value less costs to sell. Costs related to holding or disposing of the assets are charged to expense as incurred. The Company periodically evaluates OREO for impairment and write-down the value of the asset when declines in fair value below the carrying value are identified. Loan workout and other credit costs include costs of holding and operating the assets, net gains or losses on sales of the assets and provisions for losses to reduce such assets to the estimated fair values less costs to sell.
Premises, Equipment and Software
Premises, Equipment and Software
Premises and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization expense are computed on a straight-line basis over the estimated useful lives of the assets or, for leasehold improvements, over the terms of the related lease or effective useful lives of the assets, whichever is less. In general, computer equipment, furniture and equipment and building renovations are depreciated over three, five and ten years, respectively. Software, which includes purchased or externally hosted software is recorded in Other assets and is amortized on a straight-line basis over the lesser of the contract term or estimated useful life of the software.
Maintenance and repairs are expensed as incurred, while costs of major replacements, improvements and additions are capitalized.
Premises and equipment acquired in business combinations are initially recorded at fair value and subsequently carried at cost less accumulated depreciation and amortization. Assets to be disposed of are recorded at the lower of the carrying amount or fair value less costs to sell.
Goodwill and Intangible Assets
Goodwill and Intangible Assets
The Company accounts for goodwill and intangible assets in accordance with ASC 805, Business Combinations and ASC 350, Intangibles-Goodwill and Other. Accounting for goodwill and other intangible assets requires the Company to make significant judgments, for goodwill particularly, with respect to estimating the fair value of each reporting unit. The estimates utilize historical data, cash flows, and market and industry data specific to each reporting unit as well as projected data. Industry and market data are used to develop material assumptions such as transaction multiples, required rates of return, control premiums, long-term growth rates, and capitalization.
Goodwill is not amortized, rather it is subject to periodic impairment testing. The Company reviews goodwill for impairment annually on October 1 and more frequently if events and circumstances indicate that the fair value of a reporting unit is less than its carrying value. Other intangible assets with finite lives are amortized over their estimated useful lives. The Company reviews other intangible assets with finite lives for impairment if events and circumstances indicate that the carrying value may not be recoverable.
Leases
Leases
The Company accounts for its leases in accordance with ASC 842 - Leases. Most leases are recognized on the balance sheet by recording a right-of-use asset and lease liability for each lease. The right-of-use asset represents the right to use the asset under lease for the lease term, and the lease liability represents the contractual obligation to make lease payments. The right-of-use asset is tested for impairment whenever events or changes in circumstances indicate the carrying amount may not be recoverable.
As a lessee, the Company enters into operating leases for certain bank branches, office space, and office equipment. The right-of-use assets and lease liabilities are initially recognized based on the net present value of the remaining lease payments which include renewal options where the Company is reasonably certain they will be exercised. The net present value is determined using the incremental collateralized borrowing rate at commencement date. The right-of-use asset is measured at the amount of the lease liability adjusted for any prepaid rent, lease incentives and initial direct costs incurred. The right-of-use asset and lease liability is amortized over the individual lease terms. Lease expense for lease payments is recognized on a straight-line basis over the lease term.
As a lessor, the Company provides direct financing to clients through the Company's equipment and small-business leasing business. Direct financing leases are recorded at the aggregate of minimum lease payments net of unamortized deferred lease origination fees and costs and unearned income. Interest income on direct financing leases is recognized over the term of the lease. Origination fees and costs are deferred, and the net amount is amortized to interest income over the estimated life of the lease.
Leases
Leases
The Company accounts for its leases in accordance with ASC 842 - Leases. Most leases are recognized on the balance sheet by recording a right-of-use asset and lease liability for each lease. The right-of-use asset represents the right to use the asset under lease for the lease term, and the lease liability represents the contractual obligation to make lease payments. The right-of-use asset is tested for impairment whenever events or changes in circumstances indicate the carrying amount may not be recoverable.
As a lessee, the Company enters into operating leases for certain bank branches, office space, and office equipment. The right-of-use assets and lease liabilities are initially recognized based on the net present value of the remaining lease payments which include renewal options where the Company is reasonably certain they will be exercised. The net present value is determined using the incremental collateralized borrowing rate at commencement date. The right-of-use asset is measured at the amount of the lease liability adjusted for any prepaid rent, lease incentives and initial direct costs incurred. The right-of-use asset and lease liability is amortized over the individual lease terms. Lease expense for lease payments is recognized on a straight-line basis over the lease term.
As a lessor, the Company provides direct financing to clients through the Company's equipment and small-business leasing business. Direct financing leases are recorded at the aggregate of minimum lease payments net of unamortized deferred lease origination fees and costs and unearned income. Interest income on direct financing leases is recognized over the term of the lease. Origination fees and costs are deferred, and the net amount is amortized to interest income over the estimated life of the lease.
Derivatives Financial Instruments
Derivative Financial Instruments
The Company accounts for derivatives in accordance with ASC 815, Derivatives and Hedging. Derivatives are recognized as either assets or liabilities at fair value in the Consolidated Statements of Financial Condition with changes in fair value recorded to earnings or accumulated other comprehensive income, as appropriate. At the inception of a derivative contract, the Company designates the derivative as a hedging or non-hedging instrument. To qualify for hedge accounting, derivatives must be highly effective at reducing the risk associated with the exposure being hedged and must be designated as a hedge at the inception of the derivative contract. For fair value hedges, changes to the fair value are recorded in earnings, while for cash flow hedges, fair value changes are recorded in accumulated other comprehensive income and subsequently reclassified into earnings in the period that the hedged forecast transaction affects earnings. The ineffective portion of a hedge’s change in fair value is recognized in earnings immediately. For derivatives not designated as hedges, adjustments to fair value are recorded through earnings.
Income Taxes
Income Taxes
The provision for income taxes includes federal, state and local income taxes currently payable and those deferred due to temporary differences between the financial statement basis and tax basis of assets and liabilities. Income taxes are accounted for in accordance with ASC 740, Income Taxes. ASC 740 requires the recording of deferred income taxes that reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. It prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. Benefits from tax positions are recognized in the financial statements only when it is more-likely-than-not that the tax position will be sustained upon examination by the appropriate taxing authority that would have full knowledge of all relevant information.
A tax position that meets the more-likely-than-not recognition threshold is measured at the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. Tax positions that previously failed to meet the more-likely-than-not recognition threshold are recognized in the first subsequent financial reporting period in which that threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not recognition threshold are derecognized in the first subsequent financial reporting period in which that threshold is no longer met. ASC 740 also provides guidance on the accounting for and disclosure of unrecognized tax benefits, interest and penalties.
Securities Sold Under Agreements to Repurchase
Securities Sold Under Agreements to Repurchase
The Company enters into sales of securities under agreements to repurchase which are treated as financings, with the obligation to repurchase securities sold reflected as a liability in the Consolidated Statements of Financial Condition. The securities underlying the agreements are assets.
Stock-Based Compensation
Stock-Based Compensation
Stock-based compensation is accounted for in accordance with ASC 718, Stock Compensation. Compensation expense relating to all share-based payments is recognized on a straight-line basis, over the applicable vesting period.
Recent Accounting Pronouncements
RECENT ACCOUNTING PRONOUNCEMENTS
The following accounting pronouncement was adopted by the Company during the year ended December 31, 2024:

ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07): ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07): ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07): In November 2023, the FASB issued ASU 2023-07 to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss. The Company adopted this ASU on a retrospective basis for its annual period ending December 31, 2024 and for the interim period beginning January 1, 2025.

For further details on the impact of the adoption, see segment information disclosures in Note 21.
The following accounting pronouncements were adopted by the Company during the year ended December 31, 2024, but do not have a material impact on the Consolidated Financial Statements:
•ASU No. 2023-01, Leases (Topic 842) — Common Control Agreements
•ASU No. 2023-02, Investments — Equity Method and Joint Ventures (Topic 323) Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method
There were no other applicable material accounting pronouncements adopted by the Company since December 31, 2023.
Accounting Guidance Pending Adoption as of December 31, 2024
ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09): In December 2023, the FASB issued ASU 2023-09 to enhance the transparency and decision usefulness of income tax disclosures primarily related to the effective tax rate reconciliation and income taxes paid. The amendments are effective for fiscal years beginning after December 15, 2024. Adoption is permitted on either a prospective or retrospective basis and the Company is currently evaluating this update to determine the impact on the Company’s disclosures.

ASU No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (ASU 2024-03): In November 2024, the FASB issued ASU 2024-03, which requires entities to disclose disaggregated information about certain income statement expense line items in the notes to their financial statements on an annual and interim basis. Subsequently, in January 2025, the FASB issued ASU 2025-01—Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date, making ASU 2024-03 effective for fiscal years beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027, on a retrospective or prospective basis, with early adoption permitted. The Company is currently evaluating this update to determine the impact on the Company’s disclosures.

ASU No. 2024-04, Debt—Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments (ASU 2024-04): In November 2024, the FASB issued ASU 2024-04 which clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion or extinguishment of convertible debt. The new guidance is effective for annual reporting periods beginning after December 15, 2025, and interim periods within those annual periods. The Company is currently evaluating the impact upon adoption and will apply the guidance after completion of its assessment.
v3.25.0.1
NONINTEREST INCOME (Tables)
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Credit/Debit Card and ATM Income
The following table presents the components of credit/debit card and ATM income:
Twelve Months Ended December 31,
(Dollars in thousands)202420232022
Bailment fees$68,988 $40,096 $21,173 
Interchange fees15,822 15,684 15,506 
Other card and ATM fees3,900 3,938 3,409 
Total credit/debit card and ATM income$88,710 $59,718 $40,088 
Schedule of Investment Management and Fiduciary Income
The following table presents the components of investment management and fiduciary income:
Twelve Months Ended December 31,
(Dollars in thousands)202420232022
Trust fees$101,514 $89,396 $79,472 
Wealth management and advisory fees45,431 41,654 42,136 
Total investment management and fiduciary income$146,945 $131,050 $121,608 
Schedule of Deposit Service Charges
The following table presents the components of deposit service charges:
Twelve Months Ended December 31,
(Dollars in thousands)202420232022
Service fees$18,166 $17,182 $16,019 
Return and overdraft fees7,255 7,127 7,651 
Other deposit service fees1,243 1,084 814 
Total deposit service charges$26,664 $25,393 $24,484 
Schedule of Other income
The following table presents the components of other income:
Twelve Months Ended December 31,
(Dollars in thousands)202420232022
Managed service fees$21,237 $20,503 $17,991 
Currency preparation7,392 5,429 4,120 
ATM loss protection3,113 2,651 2,627 
Capital Markets revenue11,864 11,847 7,859 
Miscellaneous products and services(1)
13,716 8,299 20,027 
Total other income$57,322 $48,729 $52,624 
(1)Includes commissions income from BMTIA in 2022. The BMTIA business was sold during the second quarter of 2022.
v3.25.0.1
EARNINGS PER SHARE (Tables)
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Schedule of Computation of Basic and Diluted Earnings Per Share
The following table shows the computation of basic and diluted earnings per share:
 
(Dollars and shares in thousands, except per share data)202420232022
Numerator:
Net income attributable to WSFS$263,671 $269,156 $222,375 
Denominator:
Weighted average basic shares59,547 61,108 63,453 
Dilutive potential common shares192 113 206 
Weighted average fully diluted shares59,739 61,221 63,659 
Earnings per share:
Basic$4.43 $4.40 $3.50 
Diluted$4.41 $4.40 $3.49 
Outstanding common stock equivalents having no dilutive effect2 14 9 
v3.25.0.1
INVESTMENT SECURITIES (Tables)
 12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of Debt Securities, Available-for-Sale
The following tables detail the amortized cost, allowance for credit losses and the estimated fair value of the Company's investments in available-for-sale and held-to-maturity debt securities. None of the Company's investments in debt securities are classified as trading.
December 31, 2024
(Dollars in thousands)
Amortized
Cost
Gross
Unrealized
Gain
Gross
Unrealized
Loss
Allowance for
Credit Losses
Fair
Value
Available-for-Sale Debt Securities
Collateralized mortgage obligations (CMO)$526,796 $113 $95,967 $— $430,942 
Fannie Mae (FNMA) mortgage-backed securities (MBS)3,305,418 172 550,011 — 2,755,579 
Freddie Mac (FHLMC) MBS118,605 — 13,091 — 105,514 
Ginnie Mae (GNMA) MBS44,578 — 3,902 — 40,676 
Government-sponsored enterprises (GSE) agency notes222,869 — 44,932 — 177,937 
$4,218,266 $285 $707,903 $— $3,510,648 
Held-to-Maturity Debt Securities(1)
FNMA MBS$831,325 $— $116,600 $— $714,725 
State and political subdivisions183,843 247 3,297 7 180,786 
$1,015,168 $247 $119,897 $7 $895,511 
(1)Held-to-maturity securities transferred from available-for-sale are included in held-to-maturity at amortized cost basis at the time of transfer. The amortized cost of transferred held-to-maturity securities included net unrealized losses of $100.5 million at December 31, 2024, which are offset in Accumulated other comprehensive loss. At the time of transfer, there was no allowance for credit loss on the available-for-sale securities. Subsequent to transfer, the securities were evaluated for credit loss.
December 31, 2023
(Dollars in thousands)
Amortized
Cost
Gross
Unrealized
Gain
Gross
Unrealized
Loss
Allowance for
Credit Losses
Fair
Value
Available-for-Sale Debt Securities
CMO$560,952 $— $96,333 $— $464,619 
FNMA MBS3,544,762 162 502,574 — 3,042,350 
FHLMC MBS126,856 — 11,324 — 115,532 
GNMA MBS46,333 6 2,999 — 43,340 
GSE agency notes225,439 — 44,743 — 180,696 
$4,504,342 $168 $657,973 $— $3,846,537 
Held-to-Maturity Debt Securities(1)
FNMA MBS$872,653 $— $74,332 $— $798,321 
State and political subdivisions185,912 2,665 959 8 187,610 
$1,058,565 $2,665 $75,291 $8 $985,931 
(1)Held-to–maturity securities transferred from available-for-sale are included in held-to-maturity at amortized cost basis at the time of transfer. The amortized cost of transferred held-to-maturity securities included net unrealized losses of $120.4 million at December 31, 2023, which are offset in Accumulated other comprehensive loss. At the time of transfer, there was no allowance for credit loss on the available-for-sale securities. Subsequent to transfer, the securities were evaluated for credit loss.
Schedule of Debt Securities, Held-to-Maturity
The following tables detail the amortized cost, allowance for credit losses and the estimated fair value of the Company's investments in available-for-sale and held-to-maturity debt securities. None of the Company's investments in debt securities are classified as trading.
December 31, 2024
(Dollars in thousands)
Amortized
Cost
Gross
Unrealized
Gain
Gross
Unrealized
Loss
Allowance for
Credit Losses
Fair
Value
Available-for-Sale Debt Securities
Collateralized mortgage obligations (CMO)$526,796 $113 $95,967 $— $430,942 
Fannie Mae (FNMA) mortgage-backed securities (MBS)3,305,418 172 550,011 — 2,755,579 
Freddie Mac (FHLMC) MBS118,605 — 13,091 — 105,514 
Ginnie Mae (GNMA) MBS44,578 — 3,902 — 40,676 
Government-sponsored enterprises (GSE) agency notes222,869 — 44,932 — 177,937 
$4,218,266 $285 $707,903 $— $3,510,648 
Held-to-Maturity Debt Securities(1)
FNMA MBS$831,325 $— $116,600 $— $714,725 
State and political subdivisions183,843 247 3,297 7 180,786 
$1,015,168 $247 $119,897 $7 $895,511 
(1)Held-to-maturity securities transferred from available-for-sale are included in held-to-maturity at amortized cost basis at the time of transfer. The amortized cost of transferred held-to-maturity securities included net unrealized losses of $100.5 million at December 31, 2024, which are offset in Accumulated other comprehensive loss. At the time of transfer, there was no allowance for credit loss on the available-for-sale securities. Subsequent to transfer, the securities were evaluated for credit loss.
December 31, 2023
(Dollars in thousands)
Amortized
Cost
Gross
Unrealized
Gain
Gross
Unrealized
Loss
Allowance for
Credit Losses
Fair
Value
Available-for-Sale Debt Securities
CMO$560,952 $— $96,333 $— $464,619 
FNMA MBS3,544,762 162 502,574 — 3,042,350 
FHLMC MBS126,856 — 11,324 — 115,532 
GNMA MBS46,333 6 2,999 — 43,340 
GSE agency notes225,439 — 44,743 — 180,696 
$4,504,342 $168 $657,973 $— $3,846,537 
Held-to-Maturity Debt Securities(1)
FNMA MBS$872,653 $— $74,332 $— $798,321 
State and political subdivisions185,912 2,665 959 8 187,610 
$1,058,565 $2,665 $75,291 $8 $985,931 
(1)Held-to–maturity securities transferred from available-for-sale are included in held-to-maturity at amortized cost basis at the time of transfer. The amortized cost of transferred held-to-maturity securities included net unrealized losses of $120.4 million at December 31, 2023, which are offset in Accumulated other comprehensive loss. At the time of transfer, there was no allowance for credit loss on the available-for-sale securities. Subsequent to transfer, the securities were evaluated for credit loss.
The following table presents the activity in the allowance for credit losses for state and political subdivisions debt securities for the twelve months ended December 31, 2024, 2023, and 2022:
Twelve months ended December 31,
(Dollars in thousands)202420232022
Allowance for credit losses:
Beginning balance$8 $10 $4 
Provision for credit losses(1)(2)6 
Ending balance$7 $8 $10 
Schedule of Maturities of Investment Securities Available-for-Sale and Held-to-Maturity
The scheduled maturities of available-for-sale debt securities at December 31, 2024 and December 31, 2023 are presented in the table below:
  
Available-for-Sale
(Dollars in thousands)Amortized CostFair Value
December 31, 2024 (1)
Within one year$16,833 $16,698 
After one year but within five years147,157 138,870 
After five years but within ten years487,921 409,908 
After ten years3,566,355 2,945,172 
$4,218,266 $3,510,648 
December 31, 2023 (1)
Within one year$— $— 
After one year but within five years86,224 82,387 
After five years but within ten years569,956 485,593 
After ten years3,848,162 3,278,557 
$4,504,342 $3,846,537 
(1)Actual maturities could differ from contractual maturities.
The scheduled maturities of held-to-maturity debt securities at December 31, 2024 and December 31, 2023 are presented in the table below:
  
Held-to-Maturity
(Dollars in thousands)Amortized CostFair Value
December 31, 2024 (1)
Within one year$— $— 
After one year but within five years16,727 16,444 
After five years but within ten years51,671 50,451 
After ten years946,770 828,616 
$1,015,168 $895,511 
December 31, 2023 (1)
Within one year$— $— 
After one year but within five years10,932 10,856 
After five years but within ten years46,489 46,246 
After ten years1,001,144 928,829 
$1,058,565 $985,931 
(1)Actual maturities could differ from contractual maturities.
Schedule of Investment Securities' Gross Unrealized Losses and Fair Value by Investment Category
For debt securities in an unrealized loss position, the table below shows the gross unrealized losses and fair value by investment category and length of time that individual debt securities were in a continuous unrealized loss position at December 31, 2024.
 Duration of Unrealized Loss Position  
Less than 12 months12 months or longerTotal
(Dollars in thousands)
Fair
Value
Unrealized
Loss
Fair
Value
Unrealized
Loss
Fair
Value
Unrealized
Loss
Available-for-sale debt securities:
CMO$— $— $420,663 $95,967 $420,663 $95,967 
FNMA MBS46,971 525 2,691,778 549,486 2,738,749 550,011 
FHLMC MBS6 — 105,508 13,091 105,514 13,091 
GNMA MBS4,404 143 35,054 3,759 39,458 3,902 
GSE agency notes— — 177,937 44,932 177,937 44,932 
$51,381 $668 $3,430,940 $707,235 $3,482,321 $707,903 
For debt securities in an unrealized loss position, the table below shows the gross unrealized losses and fair value by investment category and length of time that individual debt securities were in a continuous unrealized loss position at December 31, 2023.
Duration of Unrealized Loss Position
 Less than 12 months12 months or longerTotal
FairUnrealizedFairUnrealizedFairUnrealized
(Dollars in thousands)ValueLossValueLossValueLoss
Available-for-sale debt securities:
CMO$— $— $464,619 $96,333 $464,619 $96,333 
FNMA MBS9,068 125 3,026,520 502,449 3,035,588 502,574 
FHLMC MBS— — 115,525 11,324 115,525 11,324 
GNMA MBS10,543 217 31,681 2,782 42,224 2,999 
GSE agency notes— — 180,696 44,743 180,696 44,743 
$19,611 $342 $3,819,041 $657,631 $3,838,652 $657,973 
Summary of Held-to-maturity Credit Quality Indicators
The following table summarizes the amortized cost of debt securities held-to-maturity as of December 31, 2024, aggregated by credit quality indicator:
(Dollars in thousands)FNMA MBSState and political subdivisions
A+ rated or higher$— $183,843 
Not rated831,325 — 
Ending balance$831,325 $183,843 
The following table summarizes the amortized cost of debt securities held-to-maturity as of December 31, 2023, aggregated by credit quality indicator:
(Dollars in thousands)FNMA MBSState and political subdivisions
A+ rated or higher$— $185,912 
Not rated872,653 — 
Ending balance$872,653 $185,912 
v3.25.0.1
LOANS AND LEASES (Tables)
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Schedule of Loan Portfolio by Category
The following table shows the Company's loan portfolio by category:
 December 31,
(Dollars in thousands)20242023
Commercial and industrial$2,656,174 $2,540,070 
Owner-occupied commercial1,973,645 1,886,087 
Commercial mortgages4,030,627 3,801,180 
Construction832,093 1,035,530 
Commercial small business leases647,516 623,622 
Residential(1)
965,051 870,705 
Consumer(2)
2,086,393 2,012,134 
13,191,499 12,769,328 
Less:
Allowance for credit losses195,281 186,126 
Net loans and leases$12,996,218 $12,583,202 
(1)Includes reverse mortgages, at fair value of $3.6 million and $2.8 million at December 31, 2024 and 2023, respectively.
(2)Includes home equity lines of credit, installment loans unsecured lines of credit and education loans.
v3.25.0.1
ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Schedule of Allowance for Loan Losses and Loan Balances
The following tables provide the activity of the Company's allowance for credit losses and loan and lease balances for the years ended December 31, 2024, 2023, and 2022. During 2024, the increase was primarily due to net loan growth, as well as increases in criticized loan levels in the commercial mortgages portfolio and specific reserves on certain commercial loans.
 
(Dollars in thousands)Commercial and Industrial
Owner-
occupied
Commercial
Commercial
Mortgages
ConstructionCommercial Small Business Leases
Residential(1)
Consumer(2)
Total
Year Ended December 31, 2024
Allowance for credit losses
Beginning balance$49,394 $10,719 $36,055 $10,762 $15,170 $5,483 $58,543 $186,126 
Charge-offs(15,490)(177)(5,749)— (20,033)(125)(23,549)(65,123)
Recoveries6,883 217 183 — 2,705 225 2,654 12,867 
Provision (release)16,344 (1,620)18,473 (1,577)18,123 (17)11,685 61,411 
Ending balance$57,131 $9,139 $48,962 $9,185 $15,965 $5,566 $49,333 $195,281 
Period-end allowance allocated to:
Loans evaluated on an individual basis$8,349 $— $— $— $— $— $— $8,349 
Loans evaluated on a collective basis48,782 9,139 48,962 9,185 15,965 5,566 49,333 186,932 
Ending balance$57,131 $9,139 $48,962 $9,185 $15,965 $5,566 $49,333 $195,281 
Period-end loan balances:
Loans evaluated on an individual basis
$61,674 $5,010 $22,223 $25,600 $— $8,315 $2,790 $125,612 
Loans evaluated on a collective basis2,594,500 1,968,635 4,008,404 806,493 647,516 953,111 2,083,603 13,062,262 
Ending balance$2,656,174 $1,973,645 $4,030,627 $832,093 $647,516 $961,426 $2,086,393 $13,187,874 
(1)Period-end loan balance excludes reverse mortgages at fair value of $3.6 million.
(2)Includes home equity lines of credit, installment loans, unsecured lines of credit and education loans.
(Dollars in thousands)Commercial and IndustrialOwner-
occupied
Commercial		Commercial
Mortgages		ConstructionCommercial Small Business Leases
Residential(1)
Consumer(2)
Total
Year Ended December 31, 2023
Allowance for credit losses
Beginning balance$49,526 $6,019 $21,473 $6,987 $9,868 $4,668 $53,320 $151,861 
Charge-offs(26,653)(184)(300)(794)(15,641)(41)(22,394)(66,007)
Recoveries7,735 54 7 532 1,986 260 1,625 12,199 
Provision18,786 4,830 14,875 4,037 18,957 596 25,992 88,073 
Ending balance$49,394 $10,719 $36,055 $10,762 $15,170 $5,483 $58,543 $186,126 
Period-end allowance allocated to:
Loans evaluated on an individual basis$1,591 $— $— $— $— $— $— $1,591 
Loans evaluated on a collective basis47,803 10,719 36,055 10,762 15,170 5,483 58,543 184,535 
Ending balance$49,394 $10,719 $36,055 $10,762 $15,170 $5,483 $58,543 $186,126 
Period-end loan balances:
Loans evaluated on an individual basis$19,221 $5,200 $22,295 $12,617 $— $5,876 $2,287 $67,496 
Loans evaluated on a collective basis2,520,849 1,880,887 3,778,885 1,022,913 623,622 862,019 2,009,847 12,699,022 
Ending balance$2,540,070 $1,886,087 $3,801,180 $1,035,530 $623,622 $867,895 $2,012,134 $12,766,518 
(1)Period-end loan balance excludes reverse mortgages at fair value of $2.8 million.
(2)Includes home equity lines of credit, installment loans, unsecured lines of credit and education loans.
(Dollars in thousands)Commercial and Industrial
Owner-
occupied
Commercial
Commercial
Mortgages
ConstructionCommercial Small Business Leases
Residential(1)
Consumer(2)
Total
Year Ended December 31, 2022
Allowance for credit losses
Beginning balance$43,987 $4,574 $11,623 $1,903 $5,980 $3,352 $23,088 $94,507 
Impact of adoption ASC 326(3)
22,613 595 2,684 71 1 61 78 26,103 
Charge-offs(12,500)(179)(581)— (6,504)(186)(7,520)(27,470)
Recoveries4,806 278 223 2,567 1,306 665 793 10,638 
(Release) provision(9,380)751 7,524 2,446 9,085 776 36,881 48,083 
Ending balance$49,526 $6,019 $21,473 $6,987 $9,868 $4,668 $53,320 $151,861 
Period-end allowance allocated to:
Loans evaluated on an individual basis$2,428 $— $— $— $— $— $— $2,428 
Loans evaluated on a collective basis47,098 6,019 21,473 6,987 9,868 4,668 53,320 149,433 
Ending balance$49,526 $6,019 $21,473 $6,987 $9,868 $4,668 $53,320 $151,861 
Period-end loan balances:
Loans evaluated on an individual basis$17,572 $1,929 $6,369 $5,143 $— $7,680 $2,047 $40,740 
Loans evaluated on a collective basis2,557,773 1,807,653 3,344,715 1,038,906 558,981 751,785 1,808,883 11,868,696 
Ending balance$2,575,345 $1,809,582 $3,351,084 $1,044,049 $558,981 $759,465 $1,810,930 $11,909,436 
(1)Period-end loan balance excludes reverse mortgages at fair value of $2.4 million.
(2)Includes home equity lines of credit, installment loans, unsecured lines of credit and education loans.
(3)Includes $23.5 million initial provision for credit losses on non-PCD loans.
Schedule of Nonaccrual and Past Due Loans
The following tables show nonaccrual and past due loans presented at amortized cost at the date indicated: 
December 31, 2024
(Dollars in thousands)30–89 Days
Past Due and
Still Accruing
Greater Than
90 Days
Past Due and
Still Accruing
Total Past
Due
And Still
Accruing
Accruing
Current
Balances
Nonaccrual Loans With No AllowanceNonaccrual Loans With An Allowance
Total
Loans
Commercial and industrial$1,482 $488 $1,970 $2,592,395 $43,206 $18,603 $2,656,174 
Owner-occupied commercial706 196 902 1,968,033 4,710 — 1,973,645 
Commercial mortgages2,621 562 3,183 4,005,221 22,223 — 4,030,627 
Construction— — — 806,493 25,600 — 832,093 
Commercial small business leases8,409 566 8,975 638,541 — — 647,516 
Residential(1)
4,262 15 4,277 952,138 5,011 — 961,426 
Consumer(2)
18,086 7,375 25,461 2,058,104 2,828 — 2,086,393 
Total(4)
$35,566 $9,202 $44,768 $13,020,925 $103,578 $18,603 $13,187,874 
% of Total Loans0.27 %0.07 %0.34 %98.73 %0.79 %0.14 %100.00 %
(1)Residential accruing current balances exclude reverse mortgages at fair value of $3.6 million.
(2)Includes $15.6 million of delinquent, but still accruing, U.S. government-guaranteed student loans that carry little risk of credit loss.
December 31, 2023
(Dollars in thousands)30–89 Days
Past Due and
Still Accruing
Greater Than
90 Days
Past Due and
Still Accruing
Total Past
Due
And Still
Accruing
Accruing
Current
Balances
Nonaccrual Loans With No Allowance(1)
Nonaccrual Loans With An AllowanceTotal Loans
Commercial and industrial(2)
$1,630 $293 $1,923 $2,518,934 $13,645 $5,568 $2,540,070 
Owner-occupied commercial1,786 487 2,273 1,878,952 4,862 — 1,886,087 
Commercial mortgages1,190 — 1,190 3,777,698 22,292 — 3,801,180 
Construction— — — 1,022,913 12,617 — 1,035,530 
Commercial small business leases6,697 772 7,469 616,153 — — 623,622 
Residential(2)
9,261 — 9,261 856,055 2,579 — 867,895 
Consumer(3)
15,249 10,032 25,281 1,984,407 2,446 — 2,012,134 
Total$35,813 $11,584 $47,397 $12,655,112 $58,441 $5,568 $12,766,518 
% of Total Loans0.28 %0.09 %0.37 %99.13 %0.46 %0.04 %100.00 %
(1)Excludes nonaccruing loans held-for-sale.
(2)Residential accruing current balances exclude reverse mortgages at fair value of $2.8 million.
(3)Includes $14.5 million of delinquent, but still accruing, U.S. government-guaranteed student loans that carry little risk of credit loss.
The Company closely monitors the performance of troubled loans to understand the effectiveness of its modification efforts. The following tables show the performance of loans that have been modified in the last 12 months as of December 31, 2024 and 2023:
December 31, 2024
(Dollars in thousands)30-89 Days Past Due and Still Accruing90+ Days Past Due and Still AccruingAccruing Current BalancesNonaccrual LoansTotal
Commercial and industrial$— $— $42,552 $54,732 $97,284 
Owner-occupied commercial— — 3,606 — 3,606 
Commercial mortgages— — 22,421 — 22,421 
Construction— — 20,593 — 20,593 
Residential— — — 144 144 
Consumer(3)
780 546 5,715 199 7,240 
Total$780 $546 $94,887 $55,075 $151,288 
(1)Includes home equity lines of credit, installment loans, unsecured lines of credit and education loans.

December 31, 2023
30-89 Days Past Due and Still Accruing90+ Days Past Due and Still AccruingAccruing Current BalancesNonaccrual LoansTotal
Commercial and industrial$21 $293 $53,989 $5,938 $60,241 
Owner-occupied commercial— — — 204 204 
Commercial mortgages— — 9,386 — 9,386 
Construction— — 15,411 — 15,411 
Residential— — 607 170 777 
Consumer(1)
1,021 205 7,539 396 9,161 
Total$1,042 $498 $86,932 $6,708 $95,180 
(1)Includes home equity lines of credit, installment loans and unsecured lines of credit.
Schedule Of Collateral Dependent Loans
The following table presents the amortized cost basis of nonaccruing collateral-dependent loans by class at December 31, 2024 and December 31, 2023:
December 31, 2024December 31, 2023
(Dollars in thousands)PropertyEquipment and otherPropertyEquipment and other
Commercial and industrial(1)
$41,105 $20,704 $17,230 $1,983 
Owner-occupied commercial4,710 — 4,862 — 
Commercial mortgages22,223 — 22,292 — 
Construction25,600 — 12,617 — 
Residential(2)
5,011 — 2,579 — 
Consumer(3)
2,828 — 2,446 — 
Total$101,477 $20,704 $62,026 $1,983 
(1)Excludes nonaccruing loans held-for-sale in 2023.
(2)Excludes reverse mortgages at fair value.
(3)Includes home equity lines of credit, installment loans, unsecured lines of credit and education loans
Schedule of Commercial Credit Exposure
The following table provides an analysis of loans by portfolio segment based on the credit quality indicators used to determine the allowance for credit losses as of December 31, 2024.
Term Loans Amortized Cost Basis by Origination Year(1)
20242023202220212020
Prior
Revolving loans amortized cost basisRevolving loans converted to termTotal
(Dollars in thousands)
Commercial and industrial:
Risk Rating
Pass$662,723 $542,655 $345,370 $126,173 $155,137 $309,445 $8,744 $252,524 $2,402,771 
Special mention18,861 386 4,147 1,176 2,490 607 — 1,868 29,535 
Substandard or Lower68,282 28,707 19,960 4,587 21,589 29,785 27 50,931 223,868 
$749,866 $571,748 $369,477 $131,936 $179,216 $339,837 $8,771 $305,323 $2,656,174 
Current-period gross writeoffs$102 $1,303 $4,276 $706 $275 $8,828 $— $— $15,490 
Owner-occupied commercial:
Risk Rating
Pass$285,146 $296,339 $224,797 $225,086 $168,368 $404,515 $— $238,356 $1,842,607 
Special mention— — 498 — 25,220 — — 756 26,474 
Substandard or Lower3,501 9,044 21,913 8,885 4,807 41,044 — 15,370 104,564 
$288,647 $305,383 $247,208 $233,971 $198,395 $445,559 $— $254,482 $1,973,645 
Current-period gross writeoffs$— $114 $— $— $— $63 $— $— $177 
Commercial mortgages:
Risk Rating
Pass$546,404 $740,711 $396,458 $414,546 $379,637 $858,744 $— $506,394 $3,842,894 
Special mention15,606 3,389 — 1,962 2,356 2,136 — 36,738 62,187 
Substandard or Lower43,572 23,996 16,328 2,077 20,880 18,165 — 528 125,546 
$605,582 $768,096 $412,786 $418,585 $402,873 $879,045 $— $543,660 $4,030,627 
Current-period gross writeoffs$— $62 $— $— $97 $5,590 $— $— $5,749 
Construction:
Risk Rating
Pass$318,363 $277,130 $161,517 $3,112 $87 $3,319 $— $22,416 $785,944 
Special mention— — — — — — — — — 
Substandard or Lower19,759 — 20,779 791 — — — 4,820 46,149 
$338,122 $277,130 $182,296 $3,903 $87 $3,319 $— $27,236 $832,093 
Current-period gross writeoffs$— $— $— $— $— $— $— $— $— 
Commercial small business leases:
Risk Rating
Performing$247,583 $189,509 $121,990 $56,998 $14,569 $16,867 $— $— $647,516 
Nonperforming— — — — — — — — — 
$247,583 $189,509 $121,990 $56,998 $14,569 $16,867 $— $— $647,516 
Current-period gross writeoffs$1,018 $5,442 $8,216 $3,645 $1,235 $477 $— $— $20,033 
Residential(2):
Risk Rating
Performing$170,647 $176,923 $62,833 $92,574 $49,994 $399,981 $— $— $952,952 
Nonperforming— 120 360 3,468 983 3,543 — — 8,474 
$170,647 $177,043 $63,193 $96,042 $50,977 $403,524 $— $— $961,426 
Current-period gross writeoffs$— $— $— $— $— $125 $— $— $125 
Consumer(3):
Risk Rating
Performing$282,465 $350,605 $446,701 $116,890 $85,633 $229,340 $564,839 $7,124 $2,083,597 
Nonperforming— 249 96 265 192 — 1,697 297 2,796 
$282,465 $350,854 $446,797 $117,155 $85,825 $229,340 $566,536 $7,421 $2,086,393 
Current-period gross writeoffs$1,282 $3,942 $13,955 $2,837 $863 $670 $— $— $23,549 
(1)Origination date represent the most recent underwriting of the loan which includes new relationships, renewals and extensions.
(2)Excludes reverse mortgages at fair value.
(3)Includes home equity lines of credit, installment loans, unsecured lines of credit and education loans.
The following table provides an analysis of loans by portfolio segment based on the credit quality indicators used to determine the allowance for credit losses as of December 31, 2023.
Term Loans Amortized Cost Basis by Origination Year(1)
(Dollars in thousands)20232022202120202019
Prior
Revolving loans amortized cost basisRevolving loans converted to termTotal
Commercial and industrial:
Risk Rating
Pass$716,848 $490,934 $180,343 $211,151 $90,522 $383,609 $8,785 $237,786 $2,319,978 
Special mention7,209 11,860 2,804 463 735 743 — 1,649 25,463 
Substandard or Lower72,993 54,024 5,951 10,224 22,046 17,906 — 11,485 194,629 
$797,050 $556,818 $189,098 $221,838 $113,303 $402,258 $8,785 $250,920 $2,540,070 
Current-period gross writeoffs$— $568 $5,214 $1,747 $7,567 $11,557 $— $— $26,653 
Owner-occupied commercial:
Risk Rating
Pass$346,908 $264,895 $251,262 $212,365 $194,153 $313,801 $— $178,150 $1,761,534 
Special mention2,885 3,115 5,419 1,105 11,002 5,559 — 1,393 30,478 
Substandard or Lower996 18,865 11,109 6,787 8,019 35,330 — 12,969 94,075 
$350,789 $286,875 $267,790 $220,257 $213,174 $354,690 $— $192,512 $1,886,087 
Current-period gross writeoffs$— $— $— $— $184 $— $— $— $184 
Commercial mortgages:
Risk Rating
Pass$847,137 $464,895 $526,280 $465,354 $486,855 $619,448 $— $290,083 $3,700,052 
Special mention20,632 — 67 1,837 10,666 — — — 33,202 
Substandard or Lower9,862 1,153 1,047 13,837 14,352 12,212 — 15,463 67,926 
$877,631 $466,048 $527,394 $481,028 $511,873 $631,660 $— $305,546 $3,801,180 
Current-period gross writeoffs$— $83 $— $217 $— $— $— $— $300 
Construction:
Risk Rating
Pass$429,055 $319,958 $111,333 $3,030 $388 $7,016 $— $87,741 $958,521 
Special mention28,718 19,769 8,227 — — — — — 56,714 
Substandard or Lower5,698 — 3,308 8,598 2,134 — — 557 20,295 
$463,471 $339,727 $122,868 $11,628 $2,522 $7,016 $— $88,298 $1,035,530 
Current-period gross writeoffs$— $— $794 $— $— $— $— $— $794 
Commercial small business leases:
Risk Rating
Performing$260,348 $191,746 $103,428 $40,697 $15,411 $11,992 $— $— $623,622 
Nonperforming— — — — — — — — — 
$260,348 $191,746 $103,428 $40,697 $15,411 $11,992 $— $— $623,622 
Current-period gross writeoffs$1,528 $7,250 $4,447 $1,454 $735 $227 $— $— $15,641 
Residential(2):
Risk Rating
Performing$188,644 $67,358 $102,982 $57,273 $33,499 $412,099 $— $— $861,855 
Nonperforming— 170 713 486 1,251 3,420 — — 6,040 
$188,644 $67,528 $103,695 $57,759 $34,750 $415,519 $— $— $867,895 
Current-period gross writeoffs$33 $— $— $— $— $8 $— $— $41 
Consumer(3):
Risk Rating
Performing$391,580 $568,919 $153,930 $104,248 $44,996 $245,849 $494,663 $5,662 $2,009,847 
Nonperforming— — 135 352 176 30 1,362 232 2,287 
$391,580 $568,919 $154,065 $104,600 $45,172 $245,879 $496,025 $5,894 $2,012,134 
Current-period gross writeoffs$1,790 $15,227 $4,411 $313 $198 $455 $— $— $22,394 
(1)Origination date represents the most recent underwriting of the loan which includes new relationships, renewals and extensions.
(2)Excludes reverse mortgages at fair value.
(3)Includes home equity lines of credit, installment loans, unsecured lines of credit and education loans.
Schedule of Loans Identified as Troubled Debt Restructurings During Periods Indicated
The following tables show the amortized cost basis of troubled loans modified during the twelve months ended December 31, 2024 and 2023, disaggregated by portfolio segment and type of modification granted:
Twelve Months Ended December 31, 2024
(Dollars in thousands)Term ExtensionInterest Rate ReductionMore-Than-Insignificant Payment DelayCombination- Term Extension and Payment DelayCombination- Term Extension and Interest Rate ReductionCombination- Payment Delay and Interest Rate ReductionTotal% of Total Loan Category
Commercial and industrial$62,314 $— $15,682 $19,261 $27 $— $97,284 3.66 %
Owner-occupied commercial3,606 — — — — — 3,606 0.18 %
Commercial mortgages22,421 — — — — — 22,421 0.56 %
Construction1,188 — — — — 19,405 20,593 2.47 %
Residential— 120 24 — — — 144 0.01 %
Consumer(1)
716 — 2,821 3,703 — — 7,240 0.35 %
Total$90,245 $120 $18,527 $22,964 $27 $19,405 $151,288 1.15 %
Twelve Months Ended December 31, 2023
(Dollars in thousands)Term ExtensionInterest Rate ReductionMore-Than-Insignificant Payment DelayCombination- Term Extension and Payment DelayCombination- Term Extension and Interest Rate ReductionCombination - Payment Delay and Interest Rate ReductionTotal% of Total Loan Category
Commercial and industrial$44,123 $— $10,523 $5,568 $27 $— $60,241 1.90 %
Owner-occupied commercial66 — — — 138 — 204 0.01 %
Commercial mortgages9,386 — — — — — 9,386 0.25 %
Construction15,411 — — — — — 15,411 1.49 %
Residential561 — 216 — — — 777 0.09 %
Consumer(1)
1,782 — 1,937 5,092 156 194 9,161 0.46 %
Total$71,329 $— $12,676 $10,660 $321 $194 $95,180 0.75 %
(1)Includes home equity lines of credit, installment loans, unsecured lines of credit and education loans.
The following table describes the financial effect of the modifications made to troubled loans during the twelve months ended December 31, 2024 and 2023:
Twelve Months Ended December 31, 2024Twelve Months Ended December 31, 2023
Term Extension(1)
Interest Rate Reduction(2)
More-Than-Insignificant Payment Delay(3)
Term Extension(1)
Interest Rate Reduction(2)
More-Than-Insignificant Payment Delay(3)
Commercial and industrial0.926.11%0.26%1.344.00%0.13%
Owner-occupied commercial0.90——0.952.59—
Commercial mortgages0.48——1.33——
Construction1.000.520.151.00——
Residential—4.25—20.18——
Consumer0.49—0.053.082.650.06
(1)Represents the weighted-average increase in the life of modified loans measured in years, which reduces monthly payment amounts for borrowers.
(2)Represents the weighted-average decrease in the contractual interest rate on the modified loans.
(3)Represents the percentage of loans deferred over the total loan portfolio excluding reverse mortgages at fair value.
The following tables show the amortized cost of loans that received a modification that had a payment default during the twelve months ended December 31, 2024 and 2023 and were modified in the 12 months before default to borrowers experiencing financial difficulty.
Twelve Months Ended December 31, 2024
Interest Rate ReductionMore-Than-Insignificant Payment DelayTotal
Residential$120 $24 $144 
Consumer— 96 96 
Total$120 $120 $240 
Twelve Months Ended December 31, 2023
More-Than-Insignificant Payment DelayCombination Term Extension & Payment DelayTotal
Commercial and industrial$— $5,568 $5,568 
Consumer98 — 98 
Total$98 $5,568 $5,666 
v3.25.0.1
PREMISES AND EQUIPMENT (Tables)
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Schedule of Premises and Equipment
The following table shows the components of premises and equipment, at cost, summarized by major classifications:
December 31,
(Dollars in thousands)20242023
Land$23,685 $33,919 
Buildings36,508 49,262 
Leasehold improvements76,685 70,431 
Furniture and equipment63,994 57,555 
Gross premises and equipment200,872 211,167 
Less: Accumulated depreciation114,844 106,683 
Net premises and equipment$86,028 $104,484 
v3.25.0.1
LEASES (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Schedule of Lease Cost
The components of the Company's ongoing operating lease cost were as follows:
Twelve months ended
(Dollars in thousands)December 31, 2024December 31, 2023December 31, 2022
Operating lease cost (1)
$16,830 $18,972 $20,123 
Sublease income(117)(161)(280)
Net lease cost$16,713 $18,811 $19,843 
(1)Includes variable lease cost and short-term lease cost.
Schedule of Balance Sheet Information
Supplemental balance sheet information related to operating leases was as follows:
(Dollars in thousands)December 31, 2024December 31, 2023
Right-of-use assets$131,126 $130,601 
Lease liabilities$152,364 $151,596 
Lease term and discount rate of operating leases
Weighted average remaining lease term (in years)12.6213.01
Weighted average discount rate5.28 %5.20 %
Schedule of Lessee Operating Lease Maturities
Maturities of operating lease liabilities were as follows:
(Dollars in thousands)December 31, 2024
2025$18,083 
202617,447 
202716,571 
202816,471 
202916,052 
After 2029127,885 
Total lease payments212,509 
Less: Interest(60,145)
Present value of lease liabilities$152,364 
Schedule of Supplemental Cash Flow Information
Supplemental cash flow information related to leases was as follows:
Twelve months ended
(Dollars in thousands)December 31, 2024December 31, 2023December 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$19,488 $19,104 $20,987 
Right of use assets obtained in exchange for new operating lease liabilities (non-cash)— — 13,707 
Schedule of Direct Financing Leases
The components of direct finance lease income are summarized in the table below:
Twelve months ended
(Dollars in thousands)December 31, 2024December 31, 2023December 31, 2022
Direct financing leases:
Interest income on lease receivable$62,881 $53,572 $42,542 
Amortization of deferred fees and costs(7,977)(6,301)(3,718)
Total direct financing lease income$54,904 $47,271 $38,824 
Equipment leasing receivables relate to direct financing leases. The composition of the net investment in direct financing leases was as follows:
(Dollars in thousands)December 31, 2024December 31, 2023
Lease receivables$749,968 $721,338 
Unearned income(122,846)(114,341)
Deferred fees and costs20,394 16,625 
Net investment in direct financing leases$647,516 $623,622 
Schedule of Future Minimum Lease Payments to be Received for Direct Financing Leases
Future minimum lease payments to be received for direct financing leases were as follows:
(Dollars in thousands)December 31, 2024
2025$246,265 
2026204,537 
2027151,729 
202895,712 
202942,896 
After 20298,829 
Total lease payments$749,968 
v3.25.0.1
GOODWILL AND INTANGIBLE ASSETS (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Allocation of Goodwill to Our Reportable Operating Segments for Purposes of Goodwill Impairment Testing
The following table shows the allocation of goodwill to the reportable operating segments for purposes of goodwill impairment testing:
 
(Dollars in thousands)
WSFS
Bank
Wealth
Management
Consolidated
Company
December 31, 2022$753,586 $130,051 $883,637 
Goodwill from business combinations(1)
— 2,261 2,261 
December 31, 2023753,586 132,312 885,898 
Goodwill adjustments— — — 
December 31, 2024$753,586 $132,312 $885,898 
(1)During the third quarter of 2023, BMCM acquired the business of a registered investment advisory firm.
Schedule of Finite-Lived Intangible Assets The following table summarizes the Company's intangible assets:
 
(Dollars in thousands)
Gross
Intangible
Assets
Accumulated
Amortization
Net
Intangible
Assets
Amortization Period
December 31, 2024
Core deposits$104,751 $(60,999)$43,752 10 years
Customer relationships73,880 (23,588)50,292 
7-15 years
Tradename2,900 — 2,900 indefinite
Loan servicing rights(1)
11,220 (5,901)5,319 
10-25 years
Total intangible assets$192,751 $(90,488)$102,263 
December 31, 2023
Core deposits$104,751 $(50,754)$53,997 10 years
Customer relationships73,880 (18,153)55,727 
7-15 years
Tradename2,900 — 2,900 indefinite
Loan servicing rights(2)
12,613 (6,575)6,038 
10-25 years
Total intangible assets$194,144 $(75,482)$118,662 
(1)Includes impairment losses of $0.6 million for the year ended December 31, 2024.
(2)Includes impairment losses of less than $0.1 million for the year ended December 31, 2023.
Schedule of Indefinite-Lived Intangible Assets The following table summarizes the Company's intangible assets:
 
(Dollars in thousands)
Gross
Intangible
Assets
Accumulated
Amortization
Net
Intangible
Assets
Amortization Period
December 31, 2024
Core deposits$104,751 $(60,999)$43,752 10 years
Customer relationships73,880 (23,588)50,292 
7-15 years
Tradename2,900 — 2,900 indefinite
Loan servicing rights(1)
11,220 (5,901)5,319 
10-25 years
Total intangible assets$192,751 $(90,488)$102,263 
December 31, 2023
Core deposits$104,751 $(50,754)$53,997 10 years
Customer relationships73,880 (18,153)55,727 
7-15 years
Tradename2,900 — 2,900 indefinite
Loan servicing rights(2)
12,613 (6,575)6,038 
10-25 years
Total intangible assets$194,144 $(75,482)$118,662 
(1)Includes impairment losses of $0.6 million for the year ended December 31, 2024.
(2)Includes impairment losses of less than $0.1 million for the year ended December 31, 2023.
Schedule of Estimated Amortization Expense of Intangibles
The following presents the estimated amortization expense of intangibles:
 
(Dollars in thousands)
Amortization
of Intangibles
2025$16,635 
202615,916 
202715,435 
202814,596 
202910,312 
Thereafter26,469 
Total$99,363 
v3.25.0.1
DEPOSITS (Tables)
 12 Months Ended
Dec. 31, 2024
Deposits Liabilities, Balance Sheet, Reported Amounts [Abstract]  
Schedule of Deposits by Category, Including Summary of Remaining Time to Maturity for Time Deposits
The following table is a summary of the Company's deposits by category:
December 31,
(Dollars in thousands)20242023
Noninterest-bearing:
Noninterest-bearing demand$4,987,753 $4,917,297 
Total noninterest-bearing$4,987,753 $4,917,297 
Interest-bearing:
Interest-bearing demand$2,973,431 $2,935,530 
Savings 1,466,289 1,610,143 
Money market5,471,611 5,175,123 
Customer time deposits2,130,724 1,784,317 
Brokered deposits— 51,676 
Total interest-bearing$12,042,055 $11,556,789 
Total deposits$17,029,808 $16,474,086 
The following table is a summary of the remaining time to maturity for customer time deposits:
December 31,
(Dollars in thousands)20242023
Certificates of deposit (not jumbo):
Less than one year$1,568,970 $1,391,157 
One year to two years87,276 47,336 
Two years to three years11,734 14,375 
Three years to four years9,894 9,207 
Over four years6,410 10,166 
Total certificates of deposit (not jumbo)$1,684,284 $1,472,241 
Jumbo certificates of deposit (1)
Less than one year$427,841 $305,511 
One year to two years17,373 4,486 
Two years to three years684 662 
Three years to four years— 689 
Over four years542 728 
Total jumbo certificates of deposit$446,440 $312,076 
Total certificates of deposit$2,130,724 $1,784,317 
(1)Represents certificates of deposit balances in excess of $250 thousand from individuals, businesses and municipalities.
Schedule of Interest Expense on Deposits by Category
The following table is a summary of interest expense on deposits by category:
Year Ended December 31,
(Dollars in thousands)202420232022
Interest-bearing demand$33,007 $26,671 $7,441 
Money market183,306 122,168 13,536 
Savings7,314 5,733 965 
Time deposits84,871 45,184 5,626 
Total customer interest expense$308,498 $199,756 $27,568 
Brokered deposits178 10,064 613 
Total interest expense on deposits$308,676 $209,820 $28,181 
v3.25.0.1
BORROWED FUNDS (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Borrowed Funds by Type
The following is a summary of borrowed funds by type, at or for the twelve months ended:
(Dollars in thousands)
Balance at
End of
Period
Weighted
Average
Interest
Rate
Maximum
Outstanding
at Month
End During
the Period
Average
Amount
Outstanding
During the
Year
Weighted
Average
Interest
Rate
During the
Year
December 31, 2024
Federal funds purchased $— — %$170,000 $6,735 5.09 %
FHLB advances51,040 4.33 172,306 56,855 5.22 
Trust preferred borrowings90,834 6.59 90,834 90,730 7.62 
Senior and subordinated debt218,631 4.01 218,631 218,507 4.43 
Other borrowed funds23,102 0.30 825,152 639,186 4.62 
December 31, 2023
Federal funds purchased $— — %$130,000 $33,195 5.04 %
FHLB advances— — 800,000 103,268 5.18 
Trust preferred borrowings90,638 7.51 90,638 90,534 7.44 
Senior and subordinated debt218,400 4.34 248,189 221,975 4.42 
Other borrowed funds586,038 0.28 739,346 409,002 4.41 
Schedule of Federal Home Loan Bank Advances
Advances from the FHLB with ranges ranging from 3.77% to 4.72% at December 31, 2024 are due as follows:
(Dollars in thousands)Amount
Weighted
Average
Rate
2025$7,882 4.30 %
202616,261 3.96 
202726,897 4.56 
$51,040 4.33 %
v3.25.0.1
STOCKHOLDERS' EQUITY AND REGULATORY CAPITAL (Tables)
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Schedule of Capital Position
The following table presents the capital position of the Bank and the Company as of December 31, 2024 and 2023:
 
  
Consolidated
Capital
Minimum For Capital
Adequacy Purposes
To Be Well-Capitalized
Under Prompt Corrective
Action Provisions
(Dollars in thousands)AmountPercentAmountPercentAmountPercent
December 31, 2024
Total Capital (to risk-weighted assets)
Wilmington Savings Fund Society, FSB$2,470,183 15.13 %$1,306,507 8.00 %$1,633,133 10.00 %
WSFS Financial Corporation2,575,170 15.77 1,306,677 8.00 1,633,346 10.00 
Tier 1 Capital (to risk-weighted assets)
Wilmington Savings Fund Society, FSB2,265,995 13.88 979,880 6.00 1,306,507 8.00 
WSFS Financial Corporation2,254,907 13.81 980,008 6.00 1,306,677 8.00 
Common Equity Tier 1 Capital
(to risk-weighted assets)
Wilmington Savings Fund Society, FSB2,265,995 13.88 734,910 4.50 1,061,537 6.50 
WSFS Financial Corporation2,254,907 13.81 735,006 4.50 1,061,675 6.50 
Tier 1 Leverage Capital
Wilmington Savings Fund Society, FSB2,265,995 11.03 822,045 4.00 1,027,556 5.00 
WSFS Financial Corporation2,254,907 10.96 822,637 4.00 1,028,296 5.00 
December 31, 2023
Total Capital (to risk-weighted assets)
Wilmington Savings Fund Society, FSB$2,382,514 14.96 %$1,273,856 8.00 %$1,592,320 10.00 %
WSFS Financial Corporation2,426,577 15.23 1,274,611 8.00 1,593,264 10.00 
Tier 1 Capital (to risk-weighted assets)
Wilmington Savings Fund Society, FSB2,184,193 13.72 955,392 6.00 1,273,856 8.00 
WSFS Financial Corporation2,098,403 13.17 955,958 6.00 1,274,611 8.00 
Common Equity Tier 1 Capital
(to risk-weighted assets)
Wilmington Savings Fund Society, FSB2,184,193 13.72 716,544 4.50 1,035,008 6.50 
WSFS Financial Corporation2,098,403 13.17 716,969 4.50 1,035,621 6.50 
Tier 1 Leverage Capital
Wilmington Savings Fund Society, FSB2,184,193 10.92 800,021 4.00 1,000,026 5.00 
WSFS Financial Corporation2,098,403 10.48 800,934 4.00 1,001,168 5.00 
v3.25.0.1
ASSOCIATE BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Schedule of Net Periodic Benefit Cost Components of Postretirement Benefits
The following disclosures relating to postretirement medical benefits were measured at December 31:
 
(Dollars in thousands)202420232022
Change in benefit obligation:
Benefit obligation at beginning of year$1,311 $1,331 $2,138 
Service cost32 33 52 
Interest cost66 65 51 
Actuarial gain(40)(68)(833)
Benefits paid(83)(50)(77)
Benefit obligation at end of year$1,286 $1,311 $1,331 
Change in plan assets:
Fair value of plan assets at beginning of year$— $— $— 
Employer contributions83 50 77 
Benefits paid(83)(50)(77)
Fair value of plan assets at end of year$— $— $— 
Unfunded status$(1,286)$(1,311)$(1,331)
Amounts recognized in accumulated other comprehensive income(1):
Net prior service credit$131 $207 $283 
Net gain1,132 1,263 1,625 
Net amount recognized$1,263 $1,470 $1,908 
Components of net periodic benefit income:
Service cost$32 $33 $52 
Interest cost66 65 51 
Amortization of prior service credit(76)(76)(76)
Net gain recognition(147)(160)(84)
Net periodic benefit income$(125)$(138)$(57)
Assumption used to determine net periodic benefit cost:
Discount rate4.80 %5.00 %2.80 %
Assumption used to value the Accumulated Postretirement Benefit Obligation (APBO):
Discount rate5.50 %5.30 %5.00 %
(1)Before tax effects
The following disclosures relating to Beneficial pension benefits and other postretirement benefit plans were measured at December 31:
202420232022
(Dollars in thousands)Pension BenefitsOther Postretirement BenefitsPension BenefitsOther Postretirement BenefitsPension BenefitsOther Postretirement Benefits
Change in benefit obligation:
Benefit obligation at beginning of year$76,119 $13,471 $75,151 $13,894 $104,695 $18,105 
Service cost— 8 — 14 — 33 
Interest cost3,581 648 3,700 659 2,425 383 
Plan participants' contributions— 41 — 63 — 55 
Actuarial (gain) loss(5,481)68 1,604 256 (26,233)(3,346)
Benefits paid(5,035)(1,382)(4,336)(1,415)(5,736)(1,336)
Benefit obligation at end of year$69,184 $12,854 $76,119 $13,471 $75,151 $13,894 
Change in plan assets:
Fair value of plan assets at beginning of year$82,090 $— $79,287 $— $108,242 $— 
Actual return on plan assets1,439 — 7,499 — (22,867)— 
Employer contribution126 1,341 240 1,352 225 1,281 
Participants' contributions— 41 — 63 — 55 
Benefits paid(5,035)(1,382)(4,336)(1,415)(5,736)(1,336)
Administrative expenses(571)— (600)— (577)— 
Fair value of plan assets at end of year$78,049 $— $82,090 $— $79,287 $— 
Funded (unfunded) status$8,865 $(12,854)$5,971 $(13,471)$4,136 $(13,894)
Amounts recognized in accumulated other comprehensive income(1):
Net loss (gain)$8,370 $(2,386)$9,920 $(2,612)$10,658 $(3,259)
Components of net periodic benefit (income) cost:
Service cost$— $8 $— $14 $— $33 
Interest cost3,581 648 3,700 659 2,425 383 
Expected return on plan assets(4,924)— (4,793)— (6,586)— 
Net loss (gain) recognition129 (158)281 (392)16 — 
Net periodic benefit (income) cost$(1,214)$498 $(812)$281 $(4,145)$416 
(1)Before tax effects
Significant assumptions used to calculate the net periodic benefit cost and obligation for Beneficial postretirement plans as of December 31, 2024 are as follows:
Consolidated Pension Plan202420232022
Discount rate for net periodic benefit cost5.01 %5.24 %2.82 %
Expected return on plan assets6.25 %6.25 %6.25 %
Discount rate for disclosure obligations5.60 %5.01 %5.24 %
Beneficial Bank Other Postretirement
Discount rate for net periodic benefit cost4.96 %5.18 %2.69 %
Discount rate for disclosure obligations5.51 %4.96 %5.18 %
FMS Other Postretirement
Discount rate for net periodic benefit cost4.73 %4.93 %2.07 %
Discount rate for disclosure obligations5.15 %4.73 %4.93 %
Split-Dollar Plan
Discount rate for net periodic benefit cost4.72 %4.92 %2.05 %
Discount rate for disclosure obligations5.13 %4.73 %4.92 %
Schedule of Estimated Future Benefit Payments
The following table shows the expected future payments for the next 10 years:
(Dollars in thousands)
During 2025$57 
During 202660 
During 202764 
During 202867 
During 202969 
During 2029 through 2033406 
$723 
The following table shows the expected future payments for the next 10 years:
(Dollars in thousands)Pension BenefitsOther Postretirement Benefits
During 2025$4,536 $1,228 
During 20265,120 1,220 
During 20275,497 1,202 
During 20285,020 1,185 
During 20294,641 1,150 
During 2029 through 203325,894 5,129 
$50,708 $11,114 
Schedule of Allocation of Plan Assets
The fair values and weighted average asset allocations in plan assets of all pension and postretirement plan assets at December 31, 2024 and 2023 by asset category are as follows:
Category Used for Fair Value Measurement
December 31, 2024
(Dollars in thousands)Level 1Level 2Level 3TotalPercent
Assets:
Mutual Funds:
Large cap$3,406 $— $— $3,406 4.4 %
International6,252 — — 6,252 8.0 
Global Managed Volatility5,546 — — 5,546 7.1 
U.S. Managed Volatility2,070 — — 2,070 2.7 
Fixed Income51,592 — — 51,592 66.1 
U.S. Government Agencies— 8,958 — 8,958 11.5 
Pooled separate accounts13 — — 13 — 
Accrued Income212 — — 212 0.2 
Total$69,091 $8,958 $— $78,049 100.0 %
Category Used for Fair Value Measurement
December 31, 2023
(Dollars in thousands)Level 1Level 2Level 3TotalPercent
Assets:
Mutual Funds:
Large cap$3,215 $— $— $3,215 3.9 %
International5,839 — — 5,839 7.1 
Global Managed Volatility5,177 — — 5,177 6.3 
U.S. Managed Volatility1,932 — — 1,932 2.4 
Fixed Income54,878 — — 54,878 66.9 
U.S. Government Agencies— 10,743 — 10,743 13.1 
Pooled Separate Accounts98 — — 98 0.1 
Accrued Income208 — — 208 0.2 
Total$71,347 $10,743 $— $82,090 100.0 %
v3.25.0.1
INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) The Company's income tax provision consists of the following:
 
Year ended December 31,
(Dollars in thousands)202420232022
Current income taxes:
Federal taxes$69,589 $81,674 $63,203 
State and local taxes22,337 19,968 18,763 
Deferred income taxes:
Federal taxes(6,817)(5,331)(4,094)
State and local taxes(1,345)(66)89 
Total$83,764 $96,245 $77,961 
Schedule of Deferred Tax Assets and Liabilities The following is a summary of the significant components of the Company's deferred tax assets and liabilities as of December 31, 2024 and 2023:
 
(Dollars in thousands)20242023
Deferred tax assets:
Allowance for credit losses$42,441 $40,518 
Purchase accounting adjustments—loans8,094 10,285 
Reserves and other accruals33,250 25,093 
Net operating losses2,131 2,725 
Derivatives3,258 2,806 
Lease liabilities31,996 31,835 
Unrealized losses on available-for-sale securities193,956 186,775 
Other(1)
1,379 1,422 
Total deferred tax assets $316,505 $301,459 
Deferred tax liabilities:
Accelerated depreciation(5,735)(5,790)
Right of use assets(27,536)(27,426)
Intangibles(31,278)(33,675)
Other(2)
(3,795)(4,306)
Total deferred tax liabilities(68,344)(71,197)
Net deferred tax asset$248,161 $230,262 
(1)Other deferred tax assets includes investments, deferred gains, tax credits in 2024 and 2023, and reverse mortgages in 2023.
(2)Other deferred tax liabilities includes derivatives, partnership investments, and employee benefit plans in 2024 and 2023, reverse mortgages in 2024, and deferred loan costs in 2023.
Schedule of Effective Income Tax Rate Reconciliation
A reconciliation showing the differences between the Company's effective tax rate and the U.S. Federal statutory tax rate is as follows:
Year ended December 31,
Year Ended December 31,202420232022
Statutory federal income tax rate21.0 %21.0 %21.0 %
State tax, net of federal tax benefit4.7 4.4 5.1 
Tax-exempt interest(0.7)(0.6)(0.5)
Bank-owned life insurance income(0.1)(0.1)— 
Nondeductible acquisition costs— — 0.1 
Federal tax credits, net of amortization(1.3)(0.5)(0.4)
Nondeductible compensation0.1 0.1 0.2 
Nondeductible goodwill— — 0.5 
Surrender of bank-owned life insurance policies— 1.9 — 
Other0.4 0.1 (0.1)
Effective tax rate24.1 %26.3 %25.9 %
v3.25.0.1
STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Options Including Non-Plan Stock Options
A summary of option activity as of December 31, 2024, and changes during the year the ended December 31, 2024, is presented below: 
 2024
 Shares
Weighted-
Average
Exercise
Price
Weighted-Average Remaining Contractual Term (Years)
Aggregate
Intrinsic
Value (In
Thousands)
Stock Options:
Outstanding at beginning of year252,851 $43.49 2.57$1,106 
Less: Exercised(49,505)37.64 
Expired(32,726)48.62 
Outstanding at end of year170,620 44.20 2.011,524 
Nonvested at end of year14,913 51.84 0.2819 
Exercisable at end of year155,707 43.46 1.901,505 
Schedule of Nonvested Stock Option Outstanding
The following table summarizes the non-vested stock option activity during the year the ended December 31, 2024: 
 2024
SharesWeighted-Average Exercise PriceWeighted-Average Grant Date Fair Value
Stock Options:
Nonvested at beginning of period49,857 $45.52 $9.17 
Less: Vested(34,944)42.82 8.63 
Nonvested at end of period14,913 51.84 10.44 
Schedule of RSUs
The following table summarizes the Company’s RSUs and changes during the year:
Units
(in whole)
Weighted Average
Grant-Date Fair
Value per Unit
Balance at December 31, 2023335,751 $47.85 
Plus: Granted214,816 44.93 
Less: Vested(143,722)47.68 
Forfeited(17,033)46.93 
Balance at December 31, 2024389,812 46.77 
Schedule of Nonvested Performance Stock Units The following table summarizes the Company’s PSUs and changes during the year:
Units
(in whole)
Weighted Average
Grant-Date Fair
Value per Unit
Balance at December 31, 2023157,748 $49.72 
Plus: Granted129,802 42.39 
Balance at December 31, 2024287,550 46.78 
v3.25.0.1
COMMITMENTS AND CONTINGENCIES (Tables)
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Off-Balance Sheet Financial Instruments
The following represents a summary of off-balance sheet financial instruments at year-end:
 
 December 31,
(Dollars in thousands)20242023
Financial instruments with contract amounts which represent potential credit risk:
Commercial and industrial loan commitments$1,841,169 $1,717,924 
Owner-occupied commercial loan commitments54,162 57,013 
Commercial mortgages loan commitments132,276 136,379 
Construction loan commitments626,847 725,591 
Commercial standby letters of credit101,448 107,031 
Residential loan commitments(1)
12,751 11,797 
Consumer loan commitments(2)
1,476,847 1,363,458 
Total$4,245,500 $4,119,193 
(1)Not reflected in the table above are commitments to sell residential loans of $18.2 million and $16.3 million at December 31, 2024 and 2023, respectively.
(2)Consumer loan commitments of $1.0 billion and $0.6 billion were secured by real estate at December 31, 2024 and 2023, respectively..
v3.25.0.1
FAIR VALUE DISCLOSURES OF FINANCIAL ASSETS AND LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Financial Instruments Carried at Fair Value
The following tables present financial instruments carried at fair value as of December 31, 2024 and December 31, 2023 by level in the valuation hierarchy (as described above):
 
December 31, 2024
(Dollars in thousands)
Quoted Prices in Active Markets
for Identical Asset (Level 1)
Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
Total Fair
Value
Assets measured at fair value on a recurring basis:
Available-for-sale securities:
CMO$— $430,942 $— $430,942 
FNMA MBS— 2,755,579 — 2,755,579 
FHLMC MBS— 105,514 — 105,514 
GNMA MBS— 40,676 — 40,676 
GSE agency notes— 177,937 — 177,937 
Other assets— 170,464 25 170,489 
Total assets measured at fair value on a recurring basis$— $3,681,112 $25 $3,681,137 
Liabilities measured at fair value on a recurring basis:
Other liabilities$— $155,242 $5,270 $160,512 
Assets measured at fair value on a nonrecurring basis:
Other investments$— $— $15,516 $15,516 
Other real estate owned— — 5,204 5,204 
Loans held for sale— 49,699 — 49,699 
Total assets measured at fair value on a nonrecurring basis$— $49,699 $20,720 $70,419 
December 31, 2023
(Dollars in thousands)Quoted Prices in Active Markets
for Identical Asset (Level 1)		Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)Total Fair
Value
Assets measured at fair value on a recurring basis:
Available-for-sale securities:
CMO$— $464,619 $— $464,619 
FNMA MBS— 3,042,350 — 3,042,350 
FHLMC MBS— 115,532 — 115,532 
GNMA MBS— 43,340 — 43,340 
GSE agency notes— 180,696 — 180,696 
Other assets— 153,569 78 153,647 
Total assets measured at fair value on a recurring basis$— $4,000,106 $78 $4,000,184 
Liabilities measured at fair value on a recurring basis:
Other liabilities$— $137,616 $14,026 $151,642 
Assets measured at fair value on a nonrecurring basis:
Other investments$— $— $15,206 $15,206 
Other real estate owned— — 1,569 1,569 
Loans held for sale— 29,268 — 29,268 
Total assets measured at fair value on a nonrecurring basis$— $29,268 $16,775 $46,043 
Schedule of Fair Value Measurement Inputs and Valuation Techniques
The following table provides a description of the valuation techniques and significant unobservable inputs for the Company's financial instruments classified as Level 3 as of December 31, 2024 and December 31, 2023:
(Dollars in thousands)December 31, 2024
Financial InstrumentFair ValueValuation Technique(s)Unobservable InputRange (Weighted Average)
Other investments$15,516 Observed market comparable transactionsPeriod of observed transactions
December 2023
Other real estate owned5,204 Fair market value of collateralCosts to sell
10.0%
Other assets (Risk participation agreements purchased)25 Credit Value AdjustmentCDS Spread and Loss Given Default (LGD)
CDS spread: 110 - 360 bps (192 bps)
LGD: —% - 30% (30%)
Other liabilities (Risk participation agreements sold)90 Credit Value AdjustmentCDS Spread and Loss Given Default (LGD)
CDS spread: 1 - 250 bps (207 bps)
LGD: 30%
Other liabilities (Financial derivative related to sales of certain Visa Class B shares)5,180 Discounted cash flowTiming of Visa litigation resolution
2.50 years or 2Q 2027
(Dollars in thousands)December 31, 2023
Financial InstrumentFair ValueValuation Technique(s)Unobservable InputRange
(Weighted Average)
Other investments$15,206 Observed market comparable transactionsPeriod of observed transactionsDecember 2023
Other real estate owned1,569 Fair market value of collateralCosts to sell
10.0% - 20.0% (18.1%)
Other assets (Risk participation agreements purchased)78
Credit Value Adjustment
CDS Spread and Loss Given Default (LGD)
CDS spread: 110 - 360 bps (195 bps)
LGD: –% - 30% (30%)
Other liabilities (Risk participation agreements sold)3 
Credit Value Adjustment
CDS Spread and Loss Given Default (LGD)
CDS spread: 1 - 250 bps (95 bps)
LGD: 30%
Other liabilities (Financial derivative related to
sales of certain Visa Class B shares)		14,023 Discounted cash flowTiming of Visa litigation resolution
1.00 - 4.75 years (3.06 years or 4Q 2025)
Schedule of Book Value and Estimated Fair Value of Financial Instruments
The book value and estimated fair value of the Company's financial instruments are as follows:
 
December 31,
Fair Value
Measurement
20242023
(Dollars in thousands)Book ValueFair ValueBook ValueFair Value
Financial assets:
Cash, cash equivalents and restricted cashLevel 1$1,154,818 $1,154,818 $1,092,900 $1,092,900 
Investment securities, available for saleLevel 23,510,648 3,510,648 3,846,537 3,846,537 
Investment securities, held to maturity, netLevel 21,015,161 895,511 1,058,557 985,931 
Other investmentsLevel 318,184 18,184 17,434 17,434 
Loans, held for saleLevel 249,699 49,699 29,268 29,268 
Loans and leases, net(1)
Level 312,996,218 13,100,492 12,583,202 12,514,431 
Stock in FHLB of PittsburghLevel 211,805 11,805 15,398 15,398 
Accrued interest receivableLevel 284,671 84,671 85,979 85,979 
Other assetsLevels 2, 3170,489 170,489 153,647 153,647 
Financial liabilities:
DepositsLevel 2$17,029,808 $17,016,839 $16,474,086 $16,449,198 
Borrowed fundsLevel 2383,607 379,154 895,076 912,760 
Standby letters of creditLevel 3776 776 814 814 
Accrued interest payableLevel 238,173 38,173 46,684 46,684 
Other liabilitiesLevels 2, 3160,512 160,512 151,642 151,642 
(1)Includes reverse mortgage loans.
v3.25.0.1
DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Values of Derivative Instruments
The table below presents the fair value of derivative financial instruments as well as their location on the Consolidated Statements of Financial Condition as of December 31, 2024.
 
 Fair Values of Derivative Instruments
(Dollars in thousands)CountNotionalBalance Sheet LocationDerivatives
(Fair Value)
Derivatives designated as hedging instruments:
Interest rate products18 $1,500,000 Other assets$14,265 
Total$1,500,000 $14,265 
Derivatives not designated as hedging instruments:
Interest rate products$2,942,675 Other assets$153,980 
Interest rate products2,942,675 Other liabilities(153,980)
Interest rate lock commitments with clients41,238 Other assets612 
Interest rate lock commitments with clients3,658 Other liabilities(18)
Forward sale commitments 28,927 Other assets200 
Forward sale commitments 27,071 Other liabilities(39)
FX forwards26,716 Other assets1,407 
FX forwards25,924  Other liabilities (1,205)
Risk participation agreements sold110,948  Other liabilities (90)
Risk participation agreements purchased97,201  Other assets 25 
Financial derivative related to sales of
certain Visa Class B shares		55,358 Other liabilities(5,180)
Total derivatives $7,802,391 $9,977 
The table below presents the fair value of derivative financial instruments as well as their location on the Consolidated Statements of Financial Condition as of December 31, 2023.
 Fair Values of Derivative Instruments
(Dollars in thousands)CountNotionalBalance Sheet LocationDerivatives
(Fair Value)
Derivatives designated as hedging instruments:
Interest rate products9 $750,000 Other assets$15,578 
Total$750,000 $15,578 
Derivatives not designated as hedging instruments:
Interest rate products$2,428,306 Other assets$136,924 
Interest rate products2,383,443 Other liabilities(136,924)
Interest rate lock commitments with clients34,651 Other assets637 
Forward sale commitments 1,000 Other assets1 
Forward sale commitments 37,348 Other liabilities(283)
FX forwards15,812 Other assets429 
FX forwards13,064 Other liabilities(409)
Risk participation agreements sold103,648 Other liabilities(3)
Risk participation agreements purchased116,804 Other assets78 
Financial derivative related to sales of certain Visa Class B shares113,177 Other liabilities(14,023)
Total derivatives $5,997,253 $2,005 
Schedule of Effect of Derivative Instruments on the Income Statement
The table below presents the effect of the derivative financial instruments on the Consolidated Statements of Income for the years ended December 31, 2024, 2023, and 2022.
Amount of (Loss) Gain Recognized in OCI on Derivative (Effective Portion)Location of (Loss) Gain Reclassified from Accumulated OCI into Income (Effective Portion)
(Dollars in thousands)Year Ended December 31,
Derivatives in Cash Flow Hedging Relationships202420232022
Interest Rate Products$(8,894)$1,596 $— Interest income
Total$(8,894)$1,596 $— 
Amount of Gain (Loss) Recognized in IncomeLocation of Gain (Loss) Recognized in Income
(Dollars in thousands)Year Ended December 31,
Derivatives Not Designated as a Hedging Instrument202420232022
Interest rate products$9,412 $10,294 $7,576 Other income
Interest rate lock commitments with clients(34)274 (2,072)Mortgage banking activities, net
Forward sale commitments175 65 4,863 Mortgage banking activities, net
FX forwards524 130 80 Other income
Risk participation agreements(63)(5)(195)Other income
Total$10,014 $10,758 $10,252 
v3.25.0.1
SEGMENT INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Schedule of Details of Segment Information
The following tables show segment results for the years ended December 31, 2024, 2023, and 2022, and represent amounts included in management's reports that are regularly provided to the Company's CODM: Rodger Levenson, Chairman, President and Chief Executive Officer. The CODM evaluates performance based on pretax net income relative to resources used, and allocates resources based on these results.
 
Year Ended December 31, 2024
(Dollars in thousands)
WSFS
Bank
Cash
Connect®
Wealth
Management
Total
Statements of Income
External client revenues:
Interest income$1,040,192 $— $23,390 $1,063,582 
Interest expense318,484 — 39,660 358,144 
Net interest income721,708 — (16,270)705,438 
Noninterest income78,249 114,539 148,132 340,920 
Total external client revenues799,957 114,539 131,862 1,046,358 
Inter-segment revenues:
Interest income31,036 1,441 113,329 145,806 
Interest expense114,770 16,645 14,391 145,806 
Net interest income(83,734)(15,204)98,938 — 
Noninterest income33,933 1,835 1,112 36,880 
Total inter-segment revenues(49,801)(13,369)100,050 36,880 
Total revenue750,156 101,170 231,912 1,083,238 
External client expenses:
Provision for credit losses60,710 — 700 61,410 
Noninterest expenses:
Salaries, benefits and other compensation264,281 10,209 58,192 332,682 
Occupancy expense36,486 28 1,065 37,579 
Equipment expense38,607 — 9,137 47,744 
Professional fees15,286 — 4,878 20,164 
Other segment items(1)
104,180 83,641 11,699 199,520 
Total external client expenses519,550 93,878 85,671 699,099 
Inter-segment expenses
Noninterest expenses2,947 6,293 27,640 36,880 
Total inter-segment expenses2,947 6,293 27,640 36,880 
Total expenses522,497 100,171 113,311 735,979 
Income before taxes$227,659 $999 $118,601 $347,259 
Income tax provision83,764 
Consolidated net income$263,495 
Net loss attributable to noncontrolling interest(176)
Net income attributable to WSFS$263,671 
Supplemental Information
Capital expenditures for the period ended$12,305 $204 $1,749 $14,258 
(1)Other segment items for each reportable segment includes:
WSFS Bank - data processing and operation expense, marketing expense, FDIC expense, loan workout and other credit costs, corporate development expense, restructuring expense, and certain other noninterest expenses.
Cash Connect® - data processing and operation expense, marketing expense, and certain other noninterest expenses, which includes external funding costs.
Wealth Management - data processing and operation expense, marketing expense, FDIC expense, loan workout and other credit costs, and certain other noninterest expenses.
Year Ended December 31, 2023
(Dollars in thousands)WSFS Bank
Cash
Connect®
Wealth
Management
Total
Statements of Income
External client revenues:
Interest income$955,050 $— $21,472 $976,522 
Interest expense221,713 — 29,706 251,419 
Net interest income733,337 — (8,234)725,103 
Noninterest income74,951 82,468 132,452 289,871 
Total external client revenues808,288 82,468 124,218 1,014,974 
Inter-segment revenues:
Interest income28,202 1,384 98,895 128,481 
Interest expense100,279 16,348 11,854 128,481 
Net interest income(72,077)(14,964)87,041 — 
Noninterest income29,199 1,930 568 31,697 
Total inter-segment revenues(42,878)(13,034)87,609 31,697 
Total revenue765,410 69,434 211,827 1,046,671 
External client expenses:
Provision for credit losses87,529 — 542 88,071 
Noninterest expenses:
Salaries, benefits and other compensation229,740 9,395 50,058 289,193 
Occupancy expense40,694 296 1,194 42,184 
Equipment expense35,657 — 6,585 42,242 
Professional fees11,418 — 7,636 19,054 
Other segment items(1)
108,194 49,794 10,972 168,960 
Total external client expenses513,232 59,485 76,987 649,704 
Inter-segment expenses
Noninterest expenses2,498 5,714 23,485 31,697 
Total inter-segment expenses2,498 5,714 23,485 31,697 
Total expenses515,730 65,199 100,472 681,401 
Income before taxes$249,680 $4,235 $111,355 $365,270 
Income tax provision96,245 
Consolidated net income$269,025 
Net loss attributable to noncontrolling interest(131)
Net income attributable to WSFS$269,156 
Supplemental Information
Capital expenditures for the period ended$6,335 $— $71 $6,406 
(1)Other segment items for each reportable segment includes:
WSFS Bank - data processing and operation expense, marketing expense, FDIC expense, loan workout and other credit costs, corporate development expense, restructuring expense, and certain other noninterest expenses.
Cash Connect® - data processing and operation expense, marketing expense, and certain other noninterest expenses, which includes external funding costs.
Wealth Management - data processing and operation expense, marketing expense, FDIC expense, loan workout and other credit costs, and certain other noninterest expenses.
Year Ended December 31, 2022
(Dollars in thousands)WSFS Bank
Cash
Connect®
Wealth
Management
Total
Statements of Income
External client revenues:
Interest income$690,780 $— $13,035 $703,815 
Interest expense37,393 — 3,532 40,925 
Net interest income653,387 — 9,503 662,890 
Noninterest income79,800 55,519 124,815 260,134 
Total external client revenues733,187 55,519 134,318 923,024 
Inter-segment revenues:
Interest income14,348 1,536 46,539 62,423 
Interest expense48,075 9,831 4,517 62,423 
Net interest income(33,727)(8,295)42,022 — 
Noninterest income27,534 1,610 654 29,798 
Total inter-segment revenues(6,193)(6,685)42,676 29,798 
Total revenue726,994 48,834 176,994 952,822 
External client expenses:
Provision for credit losses47,921 — 168 48,089 
Noninterest expenses:
Salaries, benefits and other compensation226,354 8,113 49,438 283,905 
Occupancy expense39,362 299 1,224 40,885 
Equipment expense37,280 — 3,714 40,994 
Professional fees15,485 — 5,391 20,876 
Other segment items(1)
147,518 28,365 11,783 187,666 
Total external client expenses513,920 36,777 71,718 622,415 
Inter-segment expenses
Noninterest expenses2,264 4,720 22,814 29,798 
Total inter-segment expenses2,264 4,720 22,814 29,798 
Total expenses516,184 41,497 94,532 652,213 
Income before taxes$210,810 $7,337 $82,462 $300,609 
Income tax provision77,961 
Consolidated net income$222,648 
Net income attributable to noncontrolling interest273 
Net income attributable to WSFS$222,375 
Supplemental Information
Capital expenditures for the period ended$8,793 $16 $— $8,809 
(1)Other segment items for each reportable segment includes:
WSFS Bank - data processing and operation expense, marketing expense, FDIC expense, loan workout and other credit costs, corporate development expense, restructuring expense, and certain other noninterest expenses.
Cash Connect® - data processing and operation expense, marketing expense, and certain other noninterest expenses, which includes external funding costs.
Wealth Management - data processing and operation expense, marketing expense, FDIC expense, loan workout and other credit costs, and certain other noninterest expenses.
The following table shows significant components of segment net assets as of December 31, 2024 and 2023:
December 31,
20242023
(Dollars in thousands)WSFS
Bank
Cash
Connect®
Wealth
Management		TotalWSFS
Bank
Cash
Connect®
Wealth
Management		Total
Cash and cash equivalents$686,735 $424,907 $43,176 $1,154,818 $600,483 $443,431 $48,986 $1,092,900 
Goodwill753,586 — 132,312 885,898 753,586 — 132,312 885,898 
Other segment assets18,292,205 12,536 468,846 18,773,587 18,191,585 15,654 408,635 18,615,874 
Total segment assets$19,732,526 $437,443 $644,334 $20,814,303 $19,545,654 $459,085 $589,933 $20,594,672 
v3.25.0.1
PARENT COMPANY FINANCIAL INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]  
Schedule of Condensed Statements of Income
Condensed Statements of Income
Year Ended December 31,
(Dollars in thousands)202420232022
Income:
Interest income$1,252 $817 $374 
Realized gain on sale of equity investment2,105 9,493 — 
Unrealized gains on equity investments, net— 2,489 5,379 
Other noninterest income219,063 98,067 251,382 
222,420 110,866 257,135 
Expense:
Interest expense16,661 16,610 11,763 
Other operating expense7,651 6,965 11,489 
24,312 23,575 23,252 
Income before equity in undistributed income of subsidiaries198,108 87,291 233,883 
Equity in undistributed income (loss) of subsidiaries64,429 182,396 (12,672)
Income before taxes262,537 269,687 221,211 
Income tax (benefit) expense(1,134)531 (1,164)
Net income attributable to WSFS$263,671 $269,156 $222,375 
Schedule of Condensed Statements of Financial Condition
Condensed Statements of Financial Condition
December 31,
(Dollars in thousands)20242023
Assets:
Cash and cash equivalents$275,431 $197,270 
Investment in subsidiaries2,620,282 2,585,151 
Investment in Trusts(1)
2,785 2,785 
Other assets3,943 5,869 
Total assets$2,902,441 $2,791,075 
Liabilities:
Trust preferred borrowings$90,834 $90,638 
Senior and subordinated debt218,631 218,400 
Accrued interest payable822 949 
Other liabilities2,402 3,452 
Total liabilities312,689 313,439 
Stockholders’ equity:
Common stock763 761 
Capital in excess of par value1,996,191 1,984,746 
Accumulated other comprehensive loss(624,877)(593,991)
Retained earnings1,871,523 1,643,657 
Treasury stock(653,848)(557,537)
Total stockholders’ equity of WSFS2,589,752 2,477,636 
Total liabilities and stockholders’ equity of WSFS$2,902,441 $2,791,075 
(1)Includes WSFS Capital Trust III, Royal Bancshares Capital Trust I, and Royal Bancshares Capital Trust II.
Schedule of Condensed Statements of Cash Flows
Condensed Statements of Cash Flows

Year Ended December 31,
(Dollars in thousands)202420232022
Operating activities:
Net income attributable to WSFS$263,671 $269,156 $222,375 
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed (income) loss of subsidiaries(64,429)(182,396)12,672 
Realized gain on sale of equity investments(2,105)(9,493)— 
Unrealized gains on equity investments— (2,489)(5,379)
Decrease in other assets15,932 31,254 2,569 
(Decrease) increase in other liabilities(747)3,488 812 
Net cash provided by operating activities$212,322 $109,520 $233,049 
Investing activities:
Payments for investment in and advances to subsidiaries(2,511)— — 
Net cash for business combinations$— $— $101,734 
Net cash (used for) provided by investing activities$(2,511)$— $101,734 
Financing activities:
Issuance of common stock and exercise of common stock options$466 $3,298 $3,179 
Redemption of senior and subordinated debt— (30,000)— 
Purchase of treasury stock(96,311)(54,647)(200,083)
Dividends paid(35,805)(36,742)(35,746)
Net cash used for financing activities$(131,650)$(118,091)$(232,650)
Increase (decrease) in cash and cash equivalents$78,161 $(8,571)$102,133 
Cash and cash equivalents at beginning of period197,270 205,841 103,708 
Cash and cash equivalents at end of period$275,431 $197,270 $205,841 
v3.25.0.1
CHANGE IN ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Schedule of Components of Accumulated Other Comprehensive Loss
Changes to accumulated other comprehensive loss by component are shown net of taxes in the following tables for the period indicated:
(Dollars in thousands)
Net change in
investment
securities
available for sale
Net change in
investment securities held
to maturity
Net change in
defined benefit
plan
Net change in fair value of derivatives used for cash flow hedges(1)
Net change in
equity method
investments		Total
Balance, December 31, 2021$(33,873)$175 $(4,691)$268 $353 $(37,768)
Other comprehensive (loss) income before reclassifications(2)
(529,660)(119,769)318 — 213 (648,898)
Less: Amounts reclassified from accumulated other comprehensive income (loss)— 11,091 (109)(160)— 10,822 
Net current-period other comprehensive (loss) income(529,660)(108,678)209 (160)213 (638,076)
Balance, December 31, 2022$(563,533)$(108,503)$(4,482)$108 566 $(675,844)
Other comprehensive income (loss) before reclassifications63,601 — 132 1,596 (85)65,244 
Less: Amounts reclassified from accumulated other comprehensive income (loss)— 16,980 (264)(107)— 16,609 
Net current-period other comprehensive income (loss)63,601 16,980 (132)1,489 (85)81,853 
Balance, December 31, 2023$(499,932)$(91,523)$(4,614)$1,597 $481 $(593,991)
Other comprehensive (loss) income before reclassifications(37,857)— 991 (8,894)(52)(45,812)
Less: Amounts reclassified from accumulated other comprehensive income (loss)— 15,118 (192)— — 14,926 
Net current-period other comprehensive (loss) income(37,857)15,118 799 (8,894)(52)(30,886)
Balance, December 31, 2024$(537,789)$(76,405)$(3,815)$(7,297)$429 $(624,877)
(1)Includes amortization of net gain for cash flow hedges terminated as of April 1, 2020.
(2)Includes $119.8 million, net of tax, of unrealized losses on transferred investment securities from available-for-sale to held-to-maturity.
Schedule of Components of Other Comprehensive Income (Loss)
Components of other comprehensive income (loss) that impact the Consolidated Statements of Income are presented in the table below.
 Twelve Months Ended December 31,
Affected line item in
Consolidated Statements of
Income
(Dollars in thousands)202420232022 
Net unrealized holding losses on securities transferred between available-for-sale and held-to-maturity:
Amortization of net unrealized losses to income during the period$19,892 $22,343 $14,593 Net interest income
Income taxes(4,774)(5,363)(3,502)Income tax provision
Net of tax$15,118 $16,980 $11,091 
Amortization of defined benefit pension plan-related items:
Prior service credits$(76)$(76)$(76)
Actuarial gains(176)(271)(68)
Total before tax$(252)$(347)$(144)Salaries, benefits and
other compensation
Income taxes60 83 35 Income tax provision
Net of tax$(192)$(264)$(109)
Net unrealized gains on terminated cash flow hedges:
Amortization of net unrealized gains to income during the period$— $(141)$(211)Interest and fees on loans and leases
Income taxes— 34 51 Income tax provision
Net of tax$— $(107)$(160)
Total reclassifications$14,926 $16,609 $10,822 
v3.25.0.1
BASIS OF PRESENTATION (Details)
Dec. 31, 2024
subsidiary
office
Basis Of Presentation [Line Items]  
Number of unconsolidated subsidiary | subsidiary 3
Number of majority-owned subsidiary | subsidiary 1
Number of office locations 114
Pennsylvania  
Basis Of Presentation [Line Items]  
Number of office locations 57
Delaware  
Basis Of Presentation [Line Items]  
Number of office locations 39
New Jersey  
Basis Of Presentation [Line Items]  
Number of office locations 14
FLORIDA  
Basis Of Presentation [Line Items]  
Number of office locations 2
Nevada  
Basis Of Presentation [Line Items]  
Number of office locations 1
Virginia  
Basis Of Presentation [Line Items]  
Number of office locations 1
WSFS Financial Corporation  
Basis Of Presentation [Line Items]  
Number of wholly-owned subsidiaries | subsidiary 2
v3.25.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)
Dec. 31, 2024
fiscalQuarter
category
Accounting Policies [Line Items]  
Number of debt securities categories | category 3
Credit loss forecast period, number of fiscal quarters 6
Credit loss reversion period, number of fiscal quarters 4
Computer Equipment  
Accounting Policies [Line Items]  
Useful life (in years) 3 years
Furniture and Equipment  
Accounting Policies [Line Items]  
Useful life (in years) 5 years
Building Renovations  
Accounting Policies [Line Items]  
Useful life (in years) 10 years
v3.25.0.1
NONINTEREST INCOME - Credit/Debit Card and ATM Income (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Total credit/debit card and ATM income      
Revenue from External Customer [Line Items]      
Noninterest income $ 88,710 $ 59,718 $ 40,088
Bailment fees      
Revenue from External Customer [Line Items]      
Noninterest income 68,988 40,096 21,173
Interchange fees      
Revenue from External Customer [Line Items]      
Noninterest income 15,822 15,684 15,506
Other card and ATM fees      
Revenue from External Customer [Line Items]      
Noninterest income $ 3,900 $ 3,938 $ 3,409
v3.25.0.1
NONINTEREST INCOME - Investment Management and Fiduciary Income (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Total investment management and fiduciary income      
Revenue from External Customer [Line Items]      
Noninterest income $ 146,945 $ 131,050 $ 121,608
Trust fees      
Revenue from External Customer [Line Items]      
Noninterest income 101,514 89,396 79,472
Wealth management and advisory fees      
Revenue from External Customer [Line Items]      
Noninterest income $ 45,431 $ 41,654 $ 42,136
v3.25.0.1
NONINTEREST INCOME - Deposit Service Charges (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Total deposit service charges      
Revenue from External Customer [Line Items]      
Noninterest income $ 26,664 $ 25,393 $ 24,484
Service fees      
Revenue from External Customer [Line Items]      
Noninterest income 18,166 17,182 16,019
Return and overdraft fees      
Revenue from External Customer [Line Items]      
Noninterest income 7,255 7,127 7,651
Other deposit service fees      
Revenue from External Customer [Line Items]      
Noninterest income $ 1,243 $ 1,084 $ 814
v3.25.0.1
NONINTEREST INCOME - Other Income (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Total other income      
Revenue from External Customer [Line Items]      
Noninterest income $ 57,322 $ 48,729 $ 52,624
Managed service fees      
Revenue from External Customer [Line Items]      
Noninterest income 21,237 20,503 17,991
Currency preparation      
Revenue from External Customer [Line Items]      
Noninterest income 7,392 5,429 4,120
ATM loss protection      
Revenue from External Customer [Line Items]      
Noninterest income 3,113 2,651 2,627
Capital Markets revenue      
Revenue from External Customer [Line Items]      
Noninterest income 11,864 11,847 7,859
Miscellaneous products and services      
Revenue from External Customer [Line Items]      
Noninterest income $ 13,716 $ 8,299 $ 20,027
v3.25.0.1
EARNINGS PER SHARE (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Numerator:      
Net income attributable to WSFS, basic $ 263,671 $ 269,156 $ 222,375
Net income attributable to WSFS, diluted $ 263,671 $ 269,156 $ 222,375
Denominator:      
Weighted average basic shares (in shares) 59,547 61,108 63,453
Dilutive potential common shares (in shares) 192 113 206
Weighted average fully diluted shares (in shares) 59,739 61,221 63,659
Earnings per share:      
Basic (in dollars per share) $ 4.43 $ 4.40 $ 3.50
Diluted (in dollars per share) $ 4.41 $ 4.40 $ 3.49
Outstanding common stock equivalents having no dilutive effect (in shares) 2 14 9
v3.25.0.1
INVESTMENT SECURITIES - Narrative (Details)
 12 Months Ended
Dec. 31, 2024
USD ($)
security
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Gain (Loss) on Securities [Line Items]      
Trading securities $ 0    
Number of available for sale investment securities | security 991    
Number of available-for-sale securities unrealized loss position | security 976    
Weighted average duration of MBS portfolio (in years) 5 years 10 months 24 days    
Securities pledged as collateral $ 3,300,000,000 $ 3,300,000,000  
Sale of investment securities available-for-sale 0 0 $ 0
Unamortized premiums 48,100,000 56,900,000  
Unaccreted discounts 17,600,000 20,900,000  
Owned investment securities 3,500,000,000    
Total unrealized losses on investment securities 707,900,000    
Allowance for credit losses 0 0  
Held-to-maturity debt securities with an amortized cost basis 1,000,000,000.0 1,100,000,000  
Accrued interest 3,600,000 3,700,000  
Debt securities nonaccrual 0 0  
Past due held-to-maturity debt securities 1,015,168,000 1,058,565,000  
Past Due      
Gain (Loss) on Securities [Line Items]      
Past due held-to-maturity debt securities $ 0 $ 0  
v3.25.0.1
INVESTMENT SECURITIES - Amortized Cost and Estimated Fair Value of Available-for-Sale and Held-to-Maturity Investment Securities (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Available-for-Sale Debt Securities        
Amortized Cost $ 4,218,266 $ 4,504,342    
Gross Unrealized Gain 285 168    
Gross Unrealized Loss 707,903 657,973    
Allowance for Credit Losses 0 0    
Fair Value 3,510,648 3,846,537    
Held-to-Maturity Debt Securities        
Amortized Cost 1,015,168 1,058,565    
Gross Unrealized Gain 247 2,665    
Gross Unrealized Loss 119,897 75,291    
Allowance for Credit Losses 7 8    
Fair Value 895,511 985,931    
Available for sale securities transfers to held to maturity unrealized losses 100,500 120,400    
Collateralized mortgage obligations (CMO)        
Available-for-Sale Debt Securities        
Amortized Cost 526,796 560,952    
Gross Unrealized Gain 113 0    
Gross Unrealized Loss 95,967 96,333    
Allowance for Credit Losses 0 0    
Fair Value 430,942 464,619    
Fannie Mae (FNMA) mortgage-backed securities (MBS)        
Available-for-Sale Debt Securities        
Amortized Cost 3,305,418 3,544,762    
Gross Unrealized Gain 172 162    
Gross Unrealized Loss 550,011 502,574    
Allowance for Credit Losses 0 0    
Fair Value 2,755,579 3,042,350    
Held-to-Maturity Debt Securities        
Amortized Cost 831,325 872,653    
Gross Unrealized Gain 0 0    
Gross Unrealized Loss 116,600 74,332    
Allowance for Credit Losses 0 0    
Fair Value 714,725 798,321    
Freddie Mac (FHLMC) MBS        
Available-for-Sale Debt Securities        
Amortized Cost 118,605 126,856    
Gross Unrealized Gain 0 0    
Gross Unrealized Loss 13,091 11,324    
Allowance for Credit Losses 0 0    
Fair Value 105,514 115,532    
Ginnie Mae (GNMA) MBS        
Available-for-Sale Debt Securities        
Amortized Cost 44,578 46,333    
Gross Unrealized Gain 0 6    
Gross Unrealized Loss 3,902 2,999    
Allowance for Credit Losses 0 0    
Fair Value 40,676 43,340    
Government-sponsored enterprises (GSE) agency notes        
Available-for-Sale Debt Securities        
Amortized Cost 222,869 225,439    
Gross Unrealized Gain 0 0    
Gross Unrealized Loss 44,932 44,743    
Allowance for Credit Losses 0 0    
Fair Value 177,937 180,696    
State and political subdivisions        
Held-to-Maturity Debt Securities        
Amortized Cost 183,843 185,912    
Gross Unrealized Gain 247 2,665    
Gross Unrealized Loss 3,297 959    
Allowance for Credit Losses 7 8 $ 10 $ 4
Fair Value $ 180,786 $ 187,610    
v3.25.0.1
INVESTMENT SECURITIES - Maturities of Investment Securities Available-for-Sale and Held-to-Maturity (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Available for Sale Amortized Cost    
Within one year $ 16,833 $ 0
After one year but within five years 147,157 86,224
After five years but within ten years 487,921 569,956
After ten years 3,566,355 3,848,162
Amortized Cost 4,218,266 4,504,342
Available for Sale Fair Value    
Within one year 16,698 0
After one year but within five years 138,870 82,387
After five years but within ten years 409,908 485,593
After ten years 2,945,172 3,278,557
Fair Value 3,510,648 3,846,537
Held to Maturity, Amortized Cost    
Within one year 0 0
After one year but within five years 16,727 10,932
After five years but within ten years 51,671 46,489
After ten years 946,770 1,001,144
Past due held-to-maturity debt securities 1,015,168 1,058,565
Held to Maturity, Fair Value    
Within one year 0 0
After one year but within five years 16,444 10,856
After five years but within ten years 50,451 46,246
After ten years 828,616 928,829
Fair Value $ 895,511 $ 985,931
v3.25.0.1
INVESTMENT SECURITIES - Investment Securities Gross Unrealized Losses and Fair Value by Investment Category (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Available-for-sale debt securities:    
Available-for-sale debt securities, Less than 12 months, Fair Value $ 51,381 $ 19,611
Available-for-sale debt securities, Less than 12 months, Unrealized Loss 668 342
Available-for-sale debt securities, 12 months or longer, Fair Value 3,430,940 3,819,041
Available-for-sale debt securities, 12 months or longer, Unrealized Loss 707,235 657,631
Available-for-sale debt securities, Total, Fair Value 3,482,321 3,838,652
Available-for-sale debt securities, Total, Unrealized Loss 707,903 657,973
CMO    
Available-for-sale debt securities:    
Available-for-sale debt securities, Less than 12 months, Fair Value 0 0
Available-for-sale debt securities, Less than 12 months, Unrealized Loss 0 0
Available-for-sale debt securities, 12 months or longer, Fair Value 420,663 464,619
Available-for-sale debt securities, 12 months or longer, Unrealized Loss 95,967 96,333
Available-for-sale debt securities, Total, Fair Value 420,663 464,619
Available-for-sale debt securities, Total, Unrealized Loss 95,967 96,333
FNMA MBS    
Available-for-sale debt securities:    
Available-for-sale debt securities, Less than 12 months, Fair Value 46,971 9,068
Available-for-sale debt securities, Less than 12 months, Unrealized Loss 525 125
Available-for-sale debt securities, 12 months or longer, Fair Value 2,691,778 3,026,520
Available-for-sale debt securities, 12 months or longer, Unrealized Loss 549,486 502,449
Available-for-sale debt securities, Total, Fair Value 2,738,749 3,035,588
Available-for-sale debt securities, Total, Unrealized Loss 550,011 502,574
FHLMC MBS    
Available-for-sale debt securities:    
Available-for-sale debt securities, Less than 12 months, Fair Value 6 0
Available-for-sale debt securities, Less than 12 months, Unrealized Loss 0 0
Available-for-sale debt securities, 12 months or longer, Fair Value 105,508 115,525
Available-for-sale debt securities, 12 months or longer, Unrealized Loss 13,091 11,324
Available-for-sale debt securities, Total, Fair Value 105,514 115,525
Available-for-sale debt securities, Total, Unrealized Loss 13,091 11,324
GNMA MBS    
Available-for-sale debt securities:    
Available-for-sale debt securities, Less than 12 months, Fair Value 4,404 10,543
Available-for-sale debt securities, Less than 12 months, Unrealized Loss 143 217
Available-for-sale debt securities, 12 months or longer, Fair Value 35,054 31,681
Available-for-sale debt securities, 12 months or longer, Unrealized Loss 3,759 2,782
Available-for-sale debt securities, Total, Fair Value 39,458 42,224
Available-for-sale debt securities, Total, Unrealized Loss 3,902 2,999
GSE agency notes    
Available-for-sale debt securities:    
Available-for-sale debt securities, Less than 12 months, Fair Value 0 0
Available-for-sale debt securities, Less than 12 months, Unrealized Loss 0 0
Available-for-sale debt securities, 12 months or longer, Fair Value 177,937 180,696
Available-for-sale debt securities, 12 months or longer, Unrealized Loss 44,932 44,743
Available-for-sale debt securities, Total, Fair Value 177,937 180,696
Available-for-sale debt securities, Total, Unrealized Loss $ 44,932 $ 44,743
v3.25.0.1
INVESTMENT SECURITIES  - Held To Maturity Credit Quality Indicator (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]    
Amortized Cost $ 1,015,168 $ 1,058,565
FNMA MBS    
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]    
Amortized Cost 831,325 872,653
FNMA MBS | A+ rated or higher    
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]    
Amortized Cost 0 0
FNMA MBS | Not rated    
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]    
Amortized Cost 831,325 872,653
State and political subdivisions    
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]    
Amortized Cost 183,843 185,912
State and political subdivisions | A+ rated or higher    
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]    
Amortized Cost 183,843 185,912
State and political subdivisions | Not rated    
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]    
Amortized Cost $ 0 $ 0
v3.25.0.1
INVESTMENT SECURITIES - Held-to-Maturity, Allowance for Credit Loss (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Allowance for credit losses:      
Beginning balance $ 8    
Ending balance 7 $ 8  
State and political subdivisions      
Allowance for credit losses:      
Beginning balance 8 10 $ 4
Provision for credit losses (1) (2) 6
Ending balance $ 7 $ 8 $ 10
v3.25.0.1
INVESTMENT SECURITIES - Equity Investments (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]      
Equity investments with a fair value $ 18.2 $ 17.4  
Spring EQ      
Schedule of Equity Method Investments [Line Items]      
Gain (loss) on sale of equity investments $ 2.3 9.8  
Spring EQ | Other Income      
Schedule of Equity Method Investments [Line Items]      
Gain (loss) on sale of equity investments   $ 2.5  
Cred.ai      
Schedule of Equity Method Investments [Line Items]      
Gain (loss) on sale of equity investments     $ 6.0
Cred.ai | Other Income      
Schedule of Equity Method Investments [Line Items]      
Gain (loss) on sale of equity investments     $ 5.4
v3.25.0.1
LOANS AND LEASES - Loan Portfolio by Category (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Allowance for credit losses $ 195,281 $ 186,126 $ 151,861 $ 94,507
Net loans and leases 12,996,218 12,583,202    
Reverse mortgage, fair value 3,600 2,800 2,400  
Financing Receivable Portfolio Segment, Including Reverse Mortgages        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Gross loans 13,191,499 12,769,328    
Residential        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Gross loans 965,051 870,705    
Allowance for credit losses 5,566 5,483 4,668 3,352
Consumer        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Gross loans 2,086,393 2,012,134    
Allowance for credit losses 49,333 58,543 53,320 23,088
Commercial and industrial | Commercial        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Gross loans 2,656,174 2,540,070    
Allowance for credit losses 57,131 49,394 49,526 43,987
Owner-occupied commercial | Commercial        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Gross loans 1,973,645 1,886,087    
Allowance for credit losses 9,139 10,719 6,019 4,574
Commercial mortgages | Commercial        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Gross loans 4,030,627 3,801,180    
Allowance for credit losses 48,962 36,055 21,473 11,623
Construction | Commercial        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Gross loans 832,093 1,035,530    
Allowance for credit losses 9,185 10,762 6,987 1,903
Commercial small business leases | Commercial        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Gross loans 647,516 623,622    
Allowance for credit losses $ 15,965 $ 15,170 $ 9,868 $ 5,980
v3.25.0.1
LOANS AND LEASES - Narrative (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Loans Receivable    
Loans [Line Items]    
Accrued interest receivable on loans and leases $ 67.5 $ 69.8
v3.25.0.1
ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY INFORMATION - Allowance for Loan Losses and Loan Balances (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Allowance for credit losses      
Beginning balance $ 186,126 $ 151,861 $ 94,507
Charge-offs (65,123) (66,007) (27,470)
Recoveries 12,867 12,199 10,638
Provision (release) 61,411 88,073 48,083
Ending balance 195,281 186,126 151,861
Loans evaluated on an individual basis 8,349 1,591 2,428
Loans evaluated on a collective basis 186,932 184,535 149,433
Loans evaluated on an individual basis 125,612 67,496 40,740
Loans evaluated on a collective basis 13,062,262 12,699,022 11,868,696
Ending balance 13,187,874 12,766,518 11,909,436
Reverse mortgage, fair value 3,600 2,800 2,400
Cumulative Effect, Period of Adoption, Adjustment [Member]      
Allowance for credit losses      
Beginning balance     26,103
BMBC      
Allowance for credit losses      
Loans purchased with no credit deterioration     23,500
Commercial | Commercial and industrial      
Allowance for credit losses      
Beginning balance 49,394 49,526 43,987
Charge-offs (15,490) (26,653) (12,500)
Recoveries 6,883 7,735 4,806
Provision (release) 16,344 18,786 (9,380)
Ending balance 57,131 49,394 49,526
Loans evaluated on an individual basis 8,349 1,591 2,428
Loans evaluated on a collective basis 48,782 47,803 47,098
Loans evaluated on an individual basis 61,674 19,221 17,572
Loans evaluated on a collective basis 2,594,500 2,520,849 2,557,773
Ending balance 2,656,174 2,540,070 2,575,345
Commercial | Commercial and industrial | Cumulative Effect, Period of Adoption, Adjustment [Member]      
Allowance for credit losses      
Beginning balance     22,613
Commercial | Owner-occupied commercial      
Allowance for credit losses      
Beginning balance 10,719 6,019 4,574
Charge-offs (177) (184) (179)
Recoveries 217 54 278
Provision (release) (1,620) 4,830 751
Ending balance 9,139 10,719 6,019
Loans evaluated on an individual basis 0 0 0
Loans evaluated on a collective basis 9,139 10,719 6,019
Loans evaluated on an individual basis 5,010 5,200 1,929
Loans evaluated on a collective basis 1,968,635 1,880,887 1,807,653
Ending balance 1,973,645 1,886,087 1,809,582
Commercial | Owner-occupied commercial | Cumulative Effect, Period of Adoption, Adjustment [Member]      
Allowance for credit losses      
Beginning balance     595
Commercial | Commercial mortgages      
Allowance for credit losses      
Beginning balance 36,055 21,473 11,623
Charge-offs (5,749) (300) (581)
Recoveries 183 7 223
Provision (release) 18,473 14,875 7,524
Ending balance 48,962 36,055 21,473
Loans evaluated on an individual basis 0 0 0
Loans evaluated on a collective basis 48,962 36,055 21,473
Loans evaluated on an individual basis 22,223 22,295 6,369
Loans evaluated on a collective basis 4,008,404 3,778,885 3,344,715
Ending balance 4,030,627 3,801,180 3,351,084
Commercial | Commercial mortgages | Cumulative Effect, Period of Adoption, Adjustment [Member]      
Allowance for credit losses      
Beginning balance     2,684
Commercial | Construction      
Allowance for credit losses      
Beginning balance 10,762 6,987 1,903
Charge-offs 0 (794) 0
Recoveries 0 532 2,567
Provision (release) (1,577) 4,037 2,446
Ending balance 9,185 10,762 6,987
Loans evaluated on an individual basis 0 0 0
Loans evaluated on a collective basis 9,185 10,762 6,987
Loans evaluated on an individual basis 25,600 12,617 5,143
Loans evaluated on a collective basis 806,493 1,022,913 1,038,906
Ending balance 832,093 1,035,530 1,044,049
Commercial | Construction | Cumulative Effect, Period of Adoption, Adjustment [Member]      
Allowance for credit losses      
Beginning balance     71
Commercial | Commercial small business leases      
Allowance for credit losses      
Beginning balance 15,170 9,868 5,980
Charge-offs (20,033) (15,641) (6,504)
Recoveries 2,705 1,986 1,306
Provision (release) 18,123 18,957 9,085
Ending balance 15,965 15,170 9,868
Loans evaluated on an individual basis 0 0 0
Loans evaluated on a collective basis 15,965 15,170 9,868
Loans evaluated on an individual basis 0 0 0
Loans evaluated on a collective basis 647,516 623,622 558,981
Ending balance 647,516 623,622 558,981
Commercial | Commercial small business leases | Cumulative Effect, Period of Adoption, Adjustment [Member]      
Allowance for credit losses      
Beginning balance     1
Residential      
Allowance for credit losses      
Beginning balance 5,483 4,668 3,352
Charge-offs (125) (41) (186)
Recoveries 225 260 665
Provision (release) (17) 596 776
Ending balance 5,566 5,483 4,668
Loans evaluated on an individual basis 0 0 0
Loans evaluated on a collective basis 5,566 5,483 4,668
Loans evaluated on an individual basis 8,315 5,876 7,680
Loans evaluated on a collective basis 953,111 862,019 751,785
Ending balance 961,426 867,895 759,465
Residential | Cumulative Effect, Period of Adoption, Adjustment [Member]      
Allowance for credit losses      
Beginning balance     61
Consumer      
Allowance for credit losses      
Beginning balance 58,543 53,320 23,088
Charge-offs (23,549) (22,394) (7,520)
Recoveries 2,654 1,625 793
Provision (release) 11,685 25,992 36,881
Ending balance 49,333 58,543 53,320
Loans evaluated on an individual basis 0 0 0
Loans evaluated on a collective basis 49,333 58,543 53,320
Loans evaluated on an individual basis 2,790 2,287 2,047
Loans evaluated on a collective basis 2,083,603 2,009,847 1,808,883
Ending balance $ 2,086,393 $ 2,012,134 1,810,930
Consumer | Cumulative Effect, Period of Adoption, Adjustment [Member]      
Allowance for credit losses      
Beginning balance     $ 78
v3.25.0.1
ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY INFORMATION - Nonaccrual and Past Due Loans (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Nonaccrual loans with no allowance $ 103,578 $ 58,441  
Nonaccrual loans with an allowance 18,603 5,568  
Total Loans $ 13,187,874 $ 12,766,518 $ 11,909,436
Percent of nonaccrual loans with no allowance 0.79% 0.46%  
Percent of nonaccrual loans with allowance 0.14% 0.04%  
% of Total Loans 100.00% 100.00%  
Reverse mortgage, fair value $ 3,600 $ 2,800 2,400
Total Past Due And Still Accruing      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans $ 44,768 $ 47,397  
Percent past due 0.34% 0.37%  
30–89 Days Past Due and Still Accruing      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans $ 35,566 $ 35,813  
Percent past due 0.27% 0.28%  
Greater Than 90 Days Past Due and Still Accruing      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans $ 9,202 $ 11,584  
Percent past due 0.07% 0.09%  
Accruing Current Balances      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans $ 13,020,925 $ 12,655,112  
Percent of accruing current balances 98.73% 99.13%  
Residential      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans $ 965,051 $ 870,705  
Nonaccrual loans with no allowance 5,011 2,579  
Nonaccrual loans with an allowance 0 0  
Total Loans 961,426 867,895 759,465
Residential | Total Past Due And Still Accruing      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 4,277 9,261  
Residential | 30–89 Days Past Due and Still Accruing      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 4,262 9,261  
Residential | Greater Than 90 Days Past Due and Still Accruing      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 15 0  
Residential | Accruing Current Balances      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 952,138 856,055  
Consumer      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 2,086,393 2,012,134  
Nonaccrual loans with no allowance 2,828 2,446  
Nonaccrual loans with an allowance 0 0  
Total Loans 2,086,393 2,012,134 1,810,930
Consumer | Total Past Due And Still Accruing      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 25,461 25,281  
Consumer | 30–89 Days Past Due and Still Accruing      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 18,086 15,249  
Consumer | Greater Than 90 Days Past Due and Still Accruing      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 7,375 10,032  
Consumer | Accruing Current Balances      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 2,058,104 1,984,407  
Commercial and industrial | Commercial      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 2,656,174 2,540,070  
Nonaccrual loans with no allowance 43,206 13,645  
Nonaccrual loans with an allowance 18,603 5,568  
Total Loans 2,656,174 2,540,070 2,575,345
Commercial and industrial | Commercial | Total Past Due And Still Accruing      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 1,970 1,923  
Commercial and industrial | Commercial | 30–89 Days Past Due and Still Accruing      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 1,482 1,630  
Commercial and industrial | Commercial | Greater Than 90 Days Past Due and Still Accruing      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 488 293  
Commercial and industrial | Commercial | Accruing Current Balances      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 2,592,395 2,518,934  
Owner-occupied commercial | Commercial      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 1,973,645 1,886,087  
Nonaccrual loans with no allowance 4,710 4,862  
Nonaccrual loans with an allowance 0 0  
Total Loans 1,973,645 1,886,087 1,809,582
Owner-occupied commercial | Commercial | Total Past Due And Still Accruing      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 902 2,273  
Owner-occupied commercial | Commercial | 30–89 Days Past Due and Still Accruing      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 706 1,786  
Owner-occupied commercial | Commercial | Greater Than 90 Days Past Due and Still Accruing      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 196 487  
Owner-occupied commercial | Commercial | Accruing Current Balances      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 1,968,033 1,878,952  
Commercial mortgages | Commercial      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 4,030,627 3,801,180  
Nonaccrual loans with no allowance 22,223 22,292  
Nonaccrual loans with an allowance 0 0  
Total Loans 4,030,627 3,801,180 3,351,084
Commercial mortgages | Commercial | Total Past Due And Still Accruing      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 3,183 1,190  
Commercial mortgages | Commercial | 30–89 Days Past Due and Still Accruing      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 2,621 1,190  
Commercial mortgages | Commercial | Greater Than 90 Days Past Due and Still Accruing      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 562 0  
Commercial mortgages | Commercial | Accruing Current Balances      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 4,005,221 3,777,698  
Construction | Commercial      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 832,093 1,035,530  
Nonaccrual loans with no allowance 25,600 12,617  
Nonaccrual loans with an allowance 0 0  
Total Loans 832,093 1,035,530 1,044,049
Construction | Commercial | Total Past Due And Still Accruing      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 0 0  
Construction | Commercial | 30–89 Days Past Due and Still Accruing      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 0 0  
Construction | Commercial | Greater Than 90 Days Past Due and Still Accruing      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 0 0  
Construction | Commercial | Accruing Current Balances      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 806,493 1,022,913  
Commercial small business leases | Commercial      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 647,516 623,622  
Nonaccrual loans with no allowance 0 0  
Nonaccrual loans with an allowance 0 0  
Total Loans 647,516 623,622 $ 558,981
Commercial small business leases | Commercial | Total Past Due And Still Accruing      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 8,975 7,469  
Commercial small business leases | Commercial | 30–89 Days Past Due and Still Accruing      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 8,409 6,697  
Commercial small business leases | Commercial | Greater Than 90 Days Past Due and Still Accruing      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 566 772  
Commercial small business leases | Commercial | Accruing Current Balances      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans 638,541 616,153  
Student loans | Consumer | Total Past Due And Still Accruing      
Financing Receivable, Recorded Investment, Past Due [Line Items]      
Gross loans $ 15,600 $ 14,500  
v3.25.0.1
ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY INFORMATION - Analysis of Collateral Dependent and Impaired Loans (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Property    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis of nonaccruing collateral-dependent loans $ 101,477 $ 62,026
Equipment and other    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis of nonaccruing collateral-dependent loans 20,704 1,983
Commercial | Commercial and industrial | Property    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis of nonaccruing collateral-dependent loans 41,105 17,230
Commercial | Commercial and industrial | Equipment and other    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis of nonaccruing collateral-dependent loans 20,704 1,983
Commercial | Owner-occupied commercial | Property    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis of nonaccruing collateral-dependent loans 4,710 4,862
Commercial | Owner-occupied commercial | Equipment and other    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis of nonaccruing collateral-dependent loans 0 0
Commercial | Commercial mortgages | Property    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis of nonaccruing collateral-dependent loans 22,223 22,292
Commercial | Commercial mortgages | Equipment and other    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis of nonaccruing collateral-dependent loans 0 0
Commercial | Construction | Property    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis of nonaccruing collateral-dependent loans 25,600 12,617
Commercial | Construction | Equipment and other    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis of nonaccruing collateral-dependent loans 0 0
Residential | Property    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis of nonaccruing collateral-dependent loans 5,011 2,579
Residential | Equipment and other    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis of nonaccruing collateral-dependent loans 0 0
Consumer | Property    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis of nonaccruing collateral-dependent loans 2,828 2,446
Consumer | Equipment and other    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis of nonaccruing collateral-dependent loans $ 0 $ 0
v3.25.0.1
ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY INFORMATION - Narrative (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
USD ($)
security_loan
Dec. 31, 2023
USD ($)
security_loan
Dec. 31, 2022
USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loan workout and other credit costs $ 2,123 $ 852 $ 702
Various Modifications      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Unused commitments to extend credit $ 18,600 $ 18,400  
Residential      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Number of loans in the process of foreclosure | security_loan 31 31  
Total loans outstanding, residential loans $ 5,600 $ 3,200  
Commercial      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Number of loans in the process of foreclosure | security_loan 15 9  
Total loans outstanding, residential loans $ 6,600 $ 1,100  
Residential and Consumer Loans      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loan workout and other credit costs $ 1,700 $ 600 $ 400
Impairment loans, charge off period (in days) 90 days    
v3.25.0.1
ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY INFORMATION - Credit Quality Indicators (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]      
Total Loans $ 13,187,874 $ 12,766,518 $ 11,909,436
Total charge offs 65,123 66,007 27,470
Commercial | Commercial and industrial      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year one, originated, current fiscal year 749,866 797,050  
Year two, originated, fiscal year before current fiscal year 571,748 556,818  
Year three, originated, two years before current fiscal year 369,477 189,098  
Year four, originated, three years before current fiscal year 131,936 221,838  
Year five, originated, four years before current fiscal year 179,216 113,303  
Prior 339,837 402,258  
Revolving loans amortized cost basis 8,771 8,785  
Revolving loans converted to term 305,323 250,920  
Total Loans 2,656,174 2,540,070 2,575,345
Year one, current fiscal year charge offs 102 0  
Year two, current fiscal year charge offs 1,303 568  
Year three, current fiscal year charge offs 4,276 5,214  
Year four, current fiscal year charge offs 706 1,747  
Year five, current fiscal year charge offs 275 7,567  
Prior to year 5, charge offs 8,828 11,557  
Revolving loans amortized cost basis charge offs 0 0  
Revolving loans converted to term gross charge offs 0 0  
Total charge offs 15,490 26,653 12,500
Commercial | Commercial and industrial | Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year one, originated, current fiscal year 662,723 716,848  
Year two, originated, fiscal year before current fiscal year 542,655 490,934  
Year three, originated, two years before current fiscal year 345,370 180,343  
Year four, originated, three years before current fiscal year 126,173 211,151  
Year five, originated, four years before current fiscal year 155,137 90,522  
Prior 309,445 383,609  
Revolving loans amortized cost basis 8,744 8,785  
Revolving loans converted to term 252,524 237,786  
Total Loans 2,402,771 2,319,978  
Commercial | Commercial and industrial | Special mention      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year one, originated, current fiscal year 18,861 7,209  
Year two, originated, fiscal year before current fiscal year 386 11,860  
Year three, originated, two years before current fiscal year 4,147 2,804  
Year four, originated, three years before current fiscal year 1,176 463  
Year five, originated, four years before current fiscal year 2,490 735  
Prior 607 743  
Revolving loans amortized cost basis 0 0  
Revolving loans converted to term 1,868 1,649  
Total Loans 29,535 25,463  
Commercial | Commercial and industrial | Substandard or Lower      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year one, originated, current fiscal year 68,282 72,993  
Year two, originated, fiscal year before current fiscal year 28,707 54,024  
Year three, originated, two years before current fiscal year 19,960 5,951  
Year four, originated, three years before current fiscal year 4,587 10,224  
Year five, originated, four years before current fiscal year 21,589 22,046  
Prior 29,785 17,906  
Revolving loans amortized cost basis 27 0  
Revolving loans converted to term 50,931 11,485  
Total Loans 223,868 194,629  
Commercial | Owner-occupied commercial      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year one, originated, current fiscal year 288,647 350,789  
Year two, originated, fiscal year before current fiscal year 305,383 286,875  
Year three, originated, two years before current fiscal year 247,208 267,790  
Year four, originated, three years before current fiscal year 233,971 220,257  
Year five, originated, four years before current fiscal year 198,395 213,174  
Prior 445,559 354,690  
Revolving loans amortized cost basis 0 0  
Revolving loans converted to term 254,482 192,512  
Total Loans 1,973,645 1,886,087 1,809,582
Year one, current fiscal year charge offs 0 0  
Year two, current fiscal year charge offs 114 0  
Year three, current fiscal year charge offs 0 0  
Year four, current fiscal year charge offs 0 0  
Year five, current fiscal year charge offs 0 184  
Prior to year 5, charge offs 63 0  
Revolving loans amortized cost basis charge offs 0 0  
Revolving loans converted to term gross charge offs 0 0  
Total charge offs 177 184 179
Commercial | Owner-occupied commercial | Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year one, originated, current fiscal year 285,146 346,908  
Year two, originated, fiscal year before current fiscal year 296,339 264,895  
Year three, originated, two years before current fiscal year 224,797 251,262  
Year four, originated, three years before current fiscal year 225,086 212,365  
Year five, originated, four years before current fiscal year 168,368 194,153  
Prior 404,515 313,801  
Revolving loans amortized cost basis 0 0  
Revolving loans converted to term 238,356 178,150  
Total Loans 1,842,607 1,761,534  
Commercial | Owner-occupied commercial | Special mention      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year one, originated, current fiscal year 0 2,885  
Year two, originated, fiscal year before current fiscal year 0 3,115  
Year three, originated, two years before current fiscal year 498 5,419  
Year four, originated, three years before current fiscal year 0 1,105  
Year five, originated, four years before current fiscal year 25,220 11,002  
Prior 0 5,559  
Revolving loans amortized cost basis 0 0  
Revolving loans converted to term 756 1,393  
Total Loans 26,474 30,478  
Commercial | Owner-occupied commercial | Substandard or Lower      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year one, originated, current fiscal year 3,501 996  
Year two, originated, fiscal year before current fiscal year 9,044 18,865  
Year three, originated, two years before current fiscal year 21,913 11,109  
Year four, originated, three years before current fiscal year 8,885 6,787  
Year five, originated, four years before current fiscal year 4,807 8,019  
Prior 41,044 35,330  
Revolving loans amortized cost basis 0 0  
Revolving loans converted to term 15,370 12,969  
Total Loans 104,564 94,075  
Commercial | Commercial mortgages      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year one, originated, current fiscal year 605,582 877,631  
Year two, originated, fiscal year before current fiscal year 768,096 466,048  
Year three, originated, two years before current fiscal year 412,786 527,394  
Year four, originated, three years before current fiscal year 418,585 481,028  
Year five, originated, four years before current fiscal year 402,873 511,873  
Prior 879,045 631,660  
Revolving loans amortized cost basis 0 0  
Revolving loans converted to term 543,660 305,546  
Total Loans 4,030,627 3,801,180 3,351,084
Year one, current fiscal year charge offs 0 0  
Year two, current fiscal year charge offs 62 83  
Year three, current fiscal year charge offs 0 0  
Year four, current fiscal year charge offs 0 217  
Year five, current fiscal year charge offs 97 0  
Prior to year 5, charge offs 5,590 0  
Revolving loans amortized cost basis charge offs 0 0  
Revolving loans converted to term gross charge offs 0 0  
Total charge offs 5,749 300 581
Commercial | Commercial mortgages | Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year one, originated, current fiscal year 546,404 847,137  
Year two, originated, fiscal year before current fiscal year 740,711 464,895  
Year three, originated, two years before current fiscal year 396,458 526,280  
Year four, originated, three years before current fiscal year 414,546 465,354  
Year five, originated, four years before current fiscal year 379,637 486,855  
Prior 858,744 619,448  
Revolving loans amortized cost basis 0 0  
Revolving loans converted to term 506,394 290,083  
Total Loans 3,842,894 3,700,052  
Commercial | Commercial mortgages | Special mention      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year one, originated, current fiscal year 15,606 20,632  
Year two, originated, fiscal year before current fiscal year 3,389 0  
Year three, originated, two years before current fiscal year 0 67  
Year four, originated, three years before current fiscal year 1,962 1,837  
Year five, originated, four years before current fiscal year 2,356 10,666  
Prior 2,136 0  
Revolving loans amortized cost basis 0 0  
Revolving loans converted to term 36,738 0  
Total Loans 62,187 33,202  
Commercial | Commercial mortgages | Substandard or Lower      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year one, originated, current fiscal year 43,572 9,862  
Year two, originated, fiscal year before current fiscal year 23,996 1,153  
Year three, originated, two years before current fiscal year 16,328 1,047  
Year four, originated, three years before current fiscal year 2,077 13,837  
Year five, originated, four years before current fiscal year 20,880 14,352  
Prior 18,165 12,212  
Revolving loans amortized cost basis 0 0  
Revolving loans converted to term 528 15,463  
Total Loans 125,546 67,926  
Commercial | Construction      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year one, originated, current fiscal year 338,122 463,471  
Year two, originated, fiscal year before current fiscal year 277,130 339,727  
Year three, originated, two years before current fiscal year 182,296 122,868  
Year four, originated, three years before current fiscal year 3,903 11,628  
Year five, originated, four years before current fiscal year 87 2,522  
Prior 3,319 7,016  
Revolving loans amortized cost basis 0 0  
Revolving loans converted to term 27,236 88,298  
Total Loans 832,093 1,035,530 1,044,049
Year one, current fiscal year charge offs 0 0  
Year two, current fiscal year charge offs 0 0  
Year three, current fiscal year charge offs 0 794  
Year four, current fiscal year charge offs 0 0  
Year five, current fiscal year charge offs 0 0  
Prior to year 5, charge offs 0 0  
Revolving loans amortized cost basis charge offs 0 0  
Revolving loans converted to term gross charge offs 0 0  
Total charge offs 0 794 0
Commercial | Construction | Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year one, originated, current fiscal year 318,363 429,055  
Year two, originated, fiscal year before current fiscal year 277,130 319,958  
Year three, originated, two years before current fiscal year 161,517 111,333  
Year four, originated, three years before current fiscal year 3,112 3,030  
Year five, originated, four years before current fiscal year 87 388  
Prior 3,319 7,016  
Revolving loans amortized cost basis 0 0  
Revolving loans converted to term 22,416 87,741  
Total Loans 785,944 958,521  
Commercial | Construction | Special mention      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year one, originated, current fiscal year 0 28,718  
Year two, originated, fiscal year before current fiscal year 0 19,769  
Year three, originated, two years before current fiscal year 0 8,227  
Year four, originated, three years before current fiscal year 0 0  
Year five, originated, four years before current fiscal year 0 0  
Prior 0 0  
Revolving loans amortized cost basis 0 0  
Revolving loans converted to term 0 0  
Total Loans 0 56,714  
Commercial | Construction | Substandard or Lower      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year one, originated, current fiscal year 19,759 5,698  
Year two, originated, fiscal year before current fiscal year 0 0  
Year three, originated, two years before current fiscal year 20,779 3,308  
Year four, originated, three years before current fiscal year 791 8,598  
Year five, originated, four years before current fiscal year 0 2,134  
Prior 0 0  
Revolving loans amortized cost basis 0 0  
Revolving loans converted to term 4,820 557  
Total Loans 46,149 20,295  
Commercial | Commercial small business leases      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year one, originated, current fiscal year 247,583 260,348  
Year two, originated, fiscal year before current fiscal year 189,509 191,746  
Year three, originated, two years before current fiscal year 121,990 103,428  
Year four, originated, three years before current fiscal year 56,998 40,697  
Year five, originated, four years before current fiscal year 14,569 15,411  
Prior 16,867 11,992  
Revolving loans amortized cost basis 0 0  
Revolving loans converted to term 0 0  
Total Loans 647,516 623,622 558,981
Year one, current fiscal year charge offs 1,018 1,528  
Year two, current fiscal year charge offs 5,442 7,250  
Year three, current fiscal year charge offs 8,216 4,447  
Year four, current fiscal year charge offs 3,645 1,454  
Year five, current fiscal year charge offs 1,235 735  
Prior to year 5, charge offs 477 227  
Revolving loans amortized cost basis charge offs 0 0  
Revolving loans converted to term gross charge offs 0 0  
Total charge offs 20,033 15,641 6,504
Commercial | Commercial small business leases | Performing      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year one, originated, current fiscal year 247,583 260,348  
Year two, originated, fiscal year before current fiscal year 189,509 191,746  
Year three, originated, two years before current fiscal year 121,990 103,428  
Year four, originated, three years before current fiscal year 56,998 40,697  
Year five, originated, four years before current fiscal year 14,569 15,411  
Prior 16,867 11,992  
Revolving loans amortized cost basis 0 0  
Revolving loans converted to term 0 0  
Total Loans 647,516 623,622  
Commercial | Commercial small business leases | Nonperforming      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year one, originated, current fiscal year 0 0  
Year two, originated, fiscal year before current fiscal year 0 0  
Year three, originated, two years before current fiscal year 0 0  
Year four, originated, three years before current fiscal year 0 0  
Year five, originated, four years before current fiscal year 0 0  
Prior 0 0  
Revolving loans amortized cost basis 0 0  
Revolving loans converted to term 0 0  
Total Loans 0 0  
Residential      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year one, originated, current fiscal year 170,647 188,644  
Year two, originated, fiscal year before current fiscal year 177,043 67,528  
Year three, originated, two years before current fiscal year 63,193 103,695  
Year four, originated, three years before current fiscal year 96,042 57,759  
Year five, originated, four years before current fiscal year 50,977 34,750  
Prior 403,524 415,519  
Revolving loans amortized cost basis 0 0  
Revolving loans converted to term 0 0  
Total Loans 961,426 867,895 759,465
Year one, current fiscal year charge offs 0 33  
Year two, current fiscal year charge offs 0 0  
Year three, current fiscal year charge offs 0 0  
Year four, current fiscal year charge offs 0 0  
Year five, current fiscal year charge offs 0 0  
Prior to year 5, charge offs 125 8  
Revolving loans amortized cost basis charge offs 0 0  
Revolving loans converted to term gross charge offs 0 0  
Total charge offs 125 41 186
Residential | Performing      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year one, originated, current fiscal year 170,647 188,644  
Year two, originated, fiscal year before current fiscal year 176,923 67,358  
Year three, originated, two years before current fiscal year 62,833 102,982  
Year four, originated, three years before current fiscal year 92,574 57,273  
Year five, originated, four years before current fiscal year 49,994 33,499  
Prior 399,981 412,099  
Revolving loans amortized cost basis 0 0  
Revolving loans converted to term 0 0  
Total Loans 952,952 861,855  
Residential | Nonperforming      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year one, originated, current fiscal year 0 0  
Year two, originated, fiscal year before current fiscal year 120 170  
Year three, originated, two years before current fiscal year 360 713  
Year four, originated, three years before current fiscal year 3,468 486  
Year five, originated, four years before current fiscal year 983 1,251  
Prior 3,543 3,420  
Revolving loans amortized cost basis 0 0  
Revolving loans converted to term 0 0  
Total Loans 8,474 6,040  
Consumer      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year one, originated, current fiscal year 282,465 391,580  
Year two, originated, fiscal year before current fiscal year 350,854 568,919  
Year three, originated, two years before current fiscal year 446,797 154,065  
Year four, originated, three years before current fiscal year 117,155 104,600  
Year five, originated, four years before current fiscal year 85,825 45,172  
Prior 229,340 245,879  
Revolving loans amortized cost basis 566,536 496,025  
Revolving loans converted to term 7,421 5,894  
Total Loans 2,086,393 2,012,134 1,810,930
Year one, current fiscal year charge offs 1,282 1,790  
Year two, current fiscal year charge offs 3,942 15,227  
Year three, current fiscal year charge offs 13,955 4,411  
Year four, current fiscal year charge offs 2,837 313  
Year five, current fiscal year charge offs 863 198  
Prior to year 5, charge offs 670 455  
Revolving loans amortized cost basis charge offs 0 0  
Revolving loans converted to term gross charge offs 0 0  
Total charge offs 23,549 22,394 $ 7,520
Consumer | Performing      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year one, originated, current fiscal year 282,465 391,580  
Year two, originated, fiscal year before current fiscal year 350,605 568,919  
Year three, originated, two years before current fiscal year 446,701 153,930  
Year four, originated, three years before current fiscal year 116,890 104,248  
Year five, originated, four years before current fiscal year 85,633 44,996  
Prior 229,340 245,849  
Revolving loans amortized cost basis 564,839 494,663  
Revolving loans converted to term 7,124 5,662  
Total Loans 2,083,597 2,009,847  
Consumer | Nonperforming      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year one, originated, current fiscal year 0 0  
Year two, originated, fiscal year before current fiscal year 249 0  
Year three, originated, two years before current fiscal year 96 135  
Year four, originated, three years before current fiscal year 265 352  
Year five, originated, four years before current fiscal year 192 176  
Prior 0 30  
Revolving loans amortized cost basis 1,697 1,362  
Revolving loans converted to term 297 232  
Total Loans $ 2,796 $ 2,287  
v3.25.0.1
ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY INFORMATION - Troubled Loans Disaggregated by Portfolio Segment (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Modifications [Line Items]    
Total $ 151,288 $ 95,180
% of Total Loan Category 1.15% 0.75%
Term Extension    
Financing Receivable, Modifications [Line Items]    
Total $ 90,245 $ 71,329
Interest Rate Reduction    
Financing Receivable, Modifications [Line Items]    
Total 120 0
More-Than-Insignificant Payment Delay    
Financing Receivable, Modifications [Line Items]    
Total 18,527 12,676
Combination- Term Extension and Payment Delay    
Financing Receivable, Modifications [Line Items]    
Total 22,964 10,660
Combination- Term Extension and Interest Rate Reduction    
Financing Receivable, Modifications [Line Items]    
Total 27 321
Combination- Payment Delay and Interest Rate Reduction    
Financing Receivable, Modifications [Line Items]    
Total 19,405 194
Commercial | Commercial and industrial    
Financing Receivable, Modifications [Line Items]    
Total $ 97,284 $ 60,241
% of Total Loan Category 3.66% 1.90%
Commercial | Commercial and industrial | Term Extension    
Financing Receivable, Modifications [Line Items]    
Total $ 62,314 $ 44,123
Commercial | Commercial and industrial | Interest Rate Reduction    
Financing Receivable, Modifications [Line Items]    
Total 0 0
Commercial | Commercial and industrial | More-Than-Insignificant Payment Delay    
Financing Receivable, Modifications [Line Items]    
Total 15,682 10,523
Commercial | Commercial and industrial | Combination- Term Extension and Payment Delay    
Financing Receivable, Modifications [Line Items]    
Total 19,261 5,568
Commercial | Commercial and industrial | Combination- Term Extension and Interest Rate Reduction    
Financing Receivable, Modifications [Line Items]    
Total 27 27
Commercial | Commercial and industrial | Combination- Payment Delay and Interest Rate Reduction    
Financing Receivable, Modifications [Line Items]    
Total 0 0
Commercial | Owner-occupied commercial    
Financing Receivable, Modifications [Line Items]    
Total $ 3,606 $ 204
% of Total Loan Category 0.18% 0.01%
Commercial | Owner-occupied commercial | Term Extension    
Financing Receivable, Modifications [Line Items]    
Total $ 3,606 $ 66
Commercial | Owner-occupied commercial | Interest Rate Reduction    
Financing Receivable, Modifications [Line Items]    
Total 0 0
Commercial | Owner-occupied commercial | More-Than-Insignificant Payment Delay    
Financing Receivable, Modifications [Line Items]    
Total 0 0
Commercial | Owner-occupied commercial | Combination- Term Extension and Payment Delay    
Financing Receivable, Modifications [Line Items]    
Total 0 0
Commercial | Owner-occupied commercial | Combination- Term Extension and Interest Rate Reduction    
Financing Receivable, Modifications [Line Items]    
Total 0 138
Commercial | Owner-occupied commercial | Combination- Payment Delay and Interest Rate Reduction    
Financing Receivable, Modifications [Line Items]    
Total 0 0
Commercial | Commercial mortgages    
Financing Receivable, Modifications [Line Items]    
Total $ 22,421 $ 9,386
% of Total Loan Category 0.56% 0.25%
Commercial | Commercial mortgages | Term Extension    
Financing Receivable, Modifications [Line Items]    
Total $ 22,421 $ 9,386
Commercial | Commercial mortgages | Interest Rate Reduction    
Financing Receivable, Modifications [Line Items]    
Total 0 0
Commercial | Commercial mortgages | More-Than-Insignificant Payment Delay    
Financing Receivable, Modifications [Line Items]    
Total 0 0
Commercial | Commercial mortgages | Combination- Term Extension and Payment Delay    
Financing Receivable, Modifications [Line Items]    
Total 0 0
Commercial | Commercial mortgages | Combination- Term Extension and Interest Rate Reduction    
Financing Receivable, Modifications [Line Items]    
Total 0 0
Commercial | Commercial mortgages | Combination- Payment Delay and Interest Rate Reduction    
Financing Receivable, Modifications [Line Items]    
Total 0 0
Commercial | Construction    
Financing Receivable, Modifications [Line Items]    
Total $ 20,593 $ 15,411
% of Total Loan Category 2.47% 1.49%
Commercial | Construction | Term Extension    
Financing Receivable, Modifications [Line Items]    
Total $ 1,188 $ 15,411
Commercial | Construction | Interest Rate Reduction    
Financing Receivable, Modifications [Line Items]    
Total 0 0
Commercial | Construction | More-Than-Insignificant Payment Delay    
Financing Receivable, Modifications [Line Items]    
Total 0 0
Commercial | Construction | Combination- Term Extension and Payment Delay    
Financing Receivable, Modifications [Line Items]    
Total 0 0
Commercial | Construction | Combination- Term Extension and Interest Rate Reduction    
Financing Receivable, Modifications [Line Items]    
Total 0 0
Commercial | Construction | Combination- Payment Delay and Interest Rate Reduction    
Financing Receivable, Modifications [Line Items]    
Total 19,405 0
Residential    
Financing Receivable, Modifications [Line Items]    
Total $ 144 $ 777
% of Total Loan Category 0.01% 0.09%
Residential | Term Extension    
Financing Receivable, Modifications [Line Items]    
Total $ 0 $ 561
Residential | Interest Rate Reduction    
Financing Receivable, Modifications [Line Items]    
Total 120 0
Residential | More-Than-Insignificant Payment Delay    
Financing Receivable, Modifications [Line Items]    
Total 24 216
Residential | Combination- Term Extension and Payment Delay    
Financing Receivable, Modifications [Line Items]    
Total 0 0
Residential | Combination- Term Extension and Interest Rate Reduction    
Financing Receivable, Modifications [Line Items]    
Total 0 0
Residential | Combination- Payment Delay and Interest Rate Reduction    
Financing Receivable, Modifications [Line Items]    
Total 0 0
Consumer    
Financing Receivable, Modifications [Line Items]    
Total $ 7,240 $ 9,161
% of Total Loan Category 0.35% 0.46%
Consumer | Term Extension    
Financing Receivable, Modifications [Line Items]    
Total $ 716 $ 1,782
Consumer | Interest Rate Reduction    
Financing Receivable, Modifications [Line Items]    
Total 0 0
Consumer | More-Than-Insignificant Payment Delay    
Financing Receivable, Modifications [Line Items]    
Total 2,821 1,937
Consumer | Combination- Term Extension and Payment Delay    
Financing Receivable, Modifications [Line Items]    
Total 3,703 5,092
Consumer | Combination- Term Extension and Interest Rate Reduction    
Financing Receivable, Modifications [Line Items]    
Total 0 156
Consumer | Combination- Payment Delay and Interest Rate Reduction    
Financing Receivable, Modifications [Line Items]    
Total $ 0 $ 194
v3.25.0.1
ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY INFORMATION - Financial Effect of the Modifications (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Commercial | Commercial and industrial | Term Extension    
Financing Receivable, Modifications [Line Items]    
Term Extension 11 months 1 day 1 year 4 months 2 days
Commercial | Commercial and industrial | Interest Rate Reduction    
Financing Receivable, Modifications [Line Items]    
Interest Rate Reduction 6.11% 4.00%
Commercial | Commercial and industrial | More-Than-Insignificant Payment Delay    
Financing Receivable, Modifications [Line Items]    
More-Than-Insignificant Payment Delay 0.26% 0.13%
Commercial | Owner-occupied commercial | Term Extension    
Financing Receivable, Modifications [Line Items]    
Term Extension 10 months 24 days 11 months 12 days
Commercial | Owner-occupied commercial | Interest Rate Reduction    
Financing Receivable, Modifications [Line Items]    
Interest Rate Reduction 0.00% 2.59%
Commercial | Owner-occupied commercial | More-Than-Insignificant Payment Delay    
Financing Receivable, Modifications [Line Items]    
More-Than-Insignificant Payment Delay 0.00% 0.00%
Commercial | Commercial mortgages | Term Extension    
Financing Receivable, Modifications [Line Items]    
Term Extension 5 months 23 days 1 year 3 months 29 days
Commercial | Commercial mortgages | Interest Rate Reduction    
Financing Receivable, Modifications [Line Items]    
Interest Rate Reduction 0.00% 0.00%
Commercial | Commercial mortgages | More-Than-Insignificant Payment Delay    
Financing Receivable, Modifications [Line Items]    
More-Than-Insignificant Payment Delay 0.00% 0.00%
Commercial | Construction | Term Extension    
Financing Receivable, Modifications [Line Items]    
Term Extension 1 year 1 year
Commercial | Construction | Interest Rate Reduction    
Financing Receivable, Modifications [Line Items]    
Interest Rate Reduction 0.52% 0.00%
Commercial | Construction | More-Than-Insignificant Payment Delay    
Financing Receivable, Modifications [Line Items]    
More-Than-Insignificant Payment Delay 0.15% 0.00%
Residential | Term Extension    
Financing Receivable, Modifications [Line Items]    
Term Extension   20 years 2 months 4 days
Residential | Interest Rate Reduction    
Financing Receivable, Modifications [Line Items]    
Interest Rate Reduction 4.25% 0.00%
Residential | More-Than-Insignificant Payment Delay    
Financing Receivable, Modifications [Line Items]    
More-Than-Insignificant Payment Delay 0.00% 0.00%
Consumer | Term Extension    
Financing Receivable, Modifications [Line Items]    
Term Extension 5 months 26 days 3 years 29 days
Consumer | Interest Rate Reduction    
Financing Receivable, Modifications [Line Items]    
Interest Rate Reduction 0.00% 2.65%
Consumer | More-Than-Insignificant Payment Delay    
Financing Receivable, Modifications [Line Items]    
More-Than-Insignificant Payment Delay 0.05% 0.06%
v3.25.0.1
ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY INFORMATION - Amortized Cost of Loans Received Term Extension Modification (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Loans Modified    
Financing Receivable, Modifications [Line Items]    
Total $ 240 $ 5,666
Loans Modified | Residential    
Financing Receivable, Modifications [Line Items]    
Total 144  
Loans Modified | Consumer    
Financing Receivable, Modifications [Line Items]    
Total 96 98
Loans Modified | Commercial | Commercial and industrial    
Financing Receivable, Modifications [Line Items]    
Total   5,568
Interest Rate Reduction    
Financing Receivable, Modifications [Line Items]    
Total 120  
Interest Rate Reduction | Residential    
Financing Receivable, Modifications [Line Items]    
Total 120  
Interest Rate Reduction | Consumer    
Financing Receivable, Modifications [Line Items]    
Total 0  
More-Than-Insignificant Payment Delay    
Financing Receivable, Modifications [Line Items]    
Total 120 98
More-Than-Insignificant Payment Delay | Residential    
Financing Receivable, Modifications [Line Items]    
Total 24  
More-Than-Insignificant Payment Delay | Consumer    
Financing Receivable, Modifications [Line Items]    
Total $ 96 98
More-Than-Insignificant Payment Delay | Commercial | Commercial and industrial    
Financing Receivable, Modifications [Line Items]    
Total   0
Combination Term Extension & Payment Delay    
Financing Receivable, Modifications [Line Items]    
Total   5,568
Combination Term Extension & Payment Delay | Consumer    
Financing Receivable, Modifications [Line Items]    
Total   0
Combination Term Extension & Payment Delay | Commercial | Commercial and industrial    
Financing Receivable, Modifications [Line Items]    
Total   $ 5,568
v3.25.0.1
ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY INFORMATION - Performance of Loans (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Modifications [Line Items]    
Total $ 151,288 $ 95,180
30-89 Days Past Due and Still Accruing    
Financing Receivable, Modifications [Line Items]    
Total 780 1,042
90+ Days Past Due and Still Accruing    
Financing Receivable, Modifications [Line Items]    
Total 546 498
Accruing Current Balances    
Financing Receivable, Modifications [Line Items]    
Total 94,887 86,932
Nonaccrual Loans    
Financing Receivable, Modifications [Line Items]    
Total 55,075 6,708
Commercial | Commercial and industrial    
Financing Receivable, Modifications [Line Items]    
Total 97,284 60,241
Commercial | Commercial and industrial | 30-89 Days Past Due and Still Accruing    
Financing Receivable, Modifications [Line Items]    
Total 0 21
Commercial | Commercial and industrial | 90+ Days Past Due and Still Accruing    
Financing Receivable, Modifications [Line Items]    
Total 0 293
Commercial | Commercial and industrial | Accruing Current Balances    
Financing Receivable, Modifications [Line Items]    
Total 42,552 53,989
Commercial | Commercial and industrial | Nonaccrual Loans    
Financing Receivable, Modifications [Line Items]    
Total 54,732 5,938
Commercial | Owner-occupied commercial    
Financing Receivable, Modifications [Line Items]    
Total 3,606 204
Commercial | Owner-occupied commercial | 30-89 Days Past Due and Still Accruing    
Financing Receivable, Modifications [Line Items]    
Total 0 0
Commercial | Owner-occupied commercial | 90+ Days Past Due and Still Accruing    
Financing Receivable, Modifications [Line Items]    
Total 0 0
Commercial | Owner-occupied commercial | Accruing Current Balances    
Financing Receivable, Modifications [Line Items]    
Total 3,606 0
Commercial | Owner-occupied commercial | Nonaccrual Loans    
Financing Receivable, Modifications [Line Items]    
Total 0 204
Commercial | Commercial mortgages    
Financing Receivable, Modifications [Line Items]    
Total 22,421 9,386
Commercial | Commercial mortgages | 30-89 Days Past Due and Still Accruing    
Financing Receivable, Modifications [Line Items]    
Total 0 0
Commercial | Commercial mortgages | 90+ Days Past Due and Still Accruing    
Financing Receivable, Modifications [Line Items]    
Total 0 0
Commercial | Commercial mortgages | Accruing Current Balances    
Financing Receivable, Modifications [Line Items]    
Total 22,421 9,386
Commercial | Commercial mortgages | Nonaccrual Loans    
Financing Receivable, Modifications [Line Items]    
Total 0 0
Commercial | Construction    
Financing Receivable, Modifications [Line Items]    
Total 20,593 15,411
Commercial | Construction | 30-89 Days Past Due and Still Accruing    
Financing Receivable, Modifications [Line Items]    
Total 0 0
Commercial | Construction | 90+ Days Past Due and Still Accruing    
Financing Receivable, Modifications [Line Items]    
Total 0 0
Commercial | Construction | Accruing Current Balances    
Financing Receivable, Modifications [Line Items]    
Total 20,593 15,411
Commercial | Construction | Nonaccrual Loans    
Financing Receivable, Modifications [Line Items]    
Total 0 0
Residential    
Financing Receivable, Modifications [Line Items]    
Total 144 777
Residential | 30-89 Days Past Due and Still Accruing    
Financing Receivable, Modifications [Line Items]    
Total 0 0
Residential | 90+ Days Past Due and Still Accruing    
Financing Receivable, Modifications [Line Items]    
Total 0 0
Residential | Accruing Current Balances    
Financing Receivable, Modifications [Line Items]    
Total 0 607
Residential | Nonaccrual Loans    
Financing Receivable, Modifications [Line Items]    
Total 144 170
Consumer    
Financing Receivable, Modifications [Line Items]    
Total 7,240 9,161
Consumer | 30-89 Days Past Due and Still Accruing    
Financing Receivable, Modifications [Line Items]    
Total 780 1,021
Consumer | 90+ Days Past Due and Still Accruing    
Financing Receivable, Modifications [Line Items]    
Total 546 205
Consumer | Accruing Current Balances    
Financing Receivable, Modifications [Line Items]    
Total 5,715 7,539
Consumer | Nonaccrual Loans    
Financing Receivable, Modifications [Line Items]    
Total $ 199 $ 396
v3.25.0.1
PREMISES AND EQUIPMENT - Components of Premises and Equipment (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Line Items]    
Gross premises and equipment $ 200,872 $ 211,167
Less: Accumulated depreciation 114,844 106,683
Net premises and equipment 86,028 104,484
Land    
Property, Plant and Equipment [Line Items]    
Gross premises and equipment 23,685 33,919
Buildings    
Property, Plant and Equipment [Line Items]    
Gross premises and equipment 36,508 49,262
Leasehold improvements    
Property, Plant and Equipment [Line Items]    
Gross premises and equipment 76,685 70,431
Furniture and equipment    
Property, Plant and Equipment [Line Items]    
Gross premises and equipment $ 63,994 $ 57,555
v3.25.0.1
PREMISES AND EQUIPMENT - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Property, Plant and Equipment [Line Items]      
Depreciation expense of premises and equipment $ 13,875 $ 17,508 $ 24,152
Land and building transferred to held for sale 18,800    
Loss on transfer of asset (2,200)    
Land, Buildings, Leasehold Improvements, Furniture and Equipment      
Property, Plant and Equipment [Line Items]      
Depreciation expense of premises and equipment $ 13,400 $ 17,900 $ 20,900
v3.25.0.1
LEASES - Narrative (Details)
Dec. 31, 2024
Minimum  
Lessee, Lease, Description [Line Items]  
Lease term (in years) 1 year
Maximum  
Lessee, Lease, Description [Line Items]  
Lease term (in years) 21 years
v3.25.0.1
LEASES - Lease Costs (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Leases [Abstract]      
Operating lease cost $ 16,830 $ 18,972 $ 20,123
Sublease income (117) (161) (280)
Net lease cost $ 16,713 $ 18,811 $ 19,843
v3.25.0.1
LEASES - Balance Sheet Information (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]    
Right-of-use assets $ 131,126 $ 130,601
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] Other assets Other assets
Lease liabilities $ 152,364 $ 151,596
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration] Other liabilities Other liabilities
Weighted average remaining lease term (in years) 12 years 7 months 13 days 13 years 3 days
Weighted average discount rate 5.28% 5.20%
v3.25.0.1
LEASES - Lessee Operating Lease Maturities (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]    
2025 $ 18,083  
2026 17,447  
2027 16,571  
2028 16,471  
2029 16,052  
After 2029 127,885  
Total lease payments 212,509  
Less: Interest (60,145)  
Present value of lease liabilities $ 152,364 $ 151,596
v3.25.0.1
LEASES - Supplemental Cash Flow Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:      
Operating cash flows from operating leases $ 19,488 $ 19,104 $ 20,987
Right of use assets obtained in exchange for new operating lease liabilities (non-cash) $ 0 $ 0 $ 13,707
v3.25.0.1
LEASES - Direct Financing Leases (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Leases [Abstract]      
Interest income on lease receivable $ 62,881 $ 53,572 $ 42,542
Amortization of deferred fees and costs (7,977) (6,301) (3,718)
Total direct financing lease income $ 54,904 $ 47,271 $ 38,824
Direct Financing Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration] Interest and fees on loans and leases Interest and fees on loans and leases Interest and fees on loans and leases
Leasing receivables      
Lease receivables $ 749,968 $ 721,338  
Unearned income (122,846) (114,341)  
Deferred fees and costs 20,394 16,625  
Net investment in direct financing leases $ 647,516 $ 623,622  
v3.25.0.1
LEASES - Minimum Future Lease Payments to be Received (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
Leases [Abstract]  
2025 $ 246,265
2026 204,537
2027 151,729
2028 95,712
2029 42,896
After 2029 8,829
Total lease payments $ 749,968
v3.25.0.1
GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]      
Impairment losses related to goodwill $ 0    
Amortization expense on other intangible assets 15,680,000 $ 15,527,000 $ 18,401,000
First Mortgage      
Finite-Lived Intangible Assets [Line Items]      
Value of servicing rights 1,300,000 1,700,000  
SBA Loans      
Finite-Lived Intangible Assets [Line Items]      
Value of servicing rights 4,000,000.0 4,300,000  
Other Intangible Assets      
Finite-Lived Intangible Assets [Line Items]      
Amortization expense on other intangible assets 15,700,000 15,500,000 $ 15,700,000
Impairment of other intangible assets 0 0  
Loan Servicing Rights      
Finite-Lived Intangible Assets [Line Items]      
Impairment losses $ 600,000 $ 100,000  
v3.25.0.1
GOODWILL AND INTANGIBLE ASSETS - Allocation of Goodwill to Our Reportable Operating Segments for Purposes of Goodwill Impairment Testing (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Goodwill [Roll Forward]    
Goodwill, beginning balance $ 885,898 $ 883,637
Goodwill from business combinations   2,261
Goodwill adjustments 0  
Goodwill, ending balance 885,898 885,898
WSFS Bank    
Goodwill [Roll Forward]    
Goodwill, beginning balance 753,586 753,586
Goodwill from business combinations   0
Goodwill adjustments 0  
Goodwill, ending balance 753,586 753,586
Wealth Management    
Goodwill [Roll Forward]    
Goodwill, beginning balance 132,312 130,051
Goodwill from business combinations   2,261
Goodwill adjustments 0  
Goodwill, ending balance $ 132,312 $ 132,312
v3.25.0.1
GOODWILL AND INTANGIBLE ASSETS - Intangible Assets (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]    
Gross Intangible Assets   $ 194,144
Accumulated Amortization $ (90,488) (75,482)
Net Intangible Assets 99,363 118,662
Indefinite-Lived Intangible Assets [Line Items]    
Gross Intangible Assets 192,751  
Accumulated Amortization (90,488) $ (75,482)
Net Intangible Assets $ 102,263  
Impairment, Intangible Asset, Finite-Lived, Statement of Income or Comprehensive Income [Extensible Enumeration] Noninterest expenses Noninterest expenses
Trade Names    
Indefinite-Lived Intangible Assets [Line Items]    
Indefinite-lived trademark $ 2,900 $ 2,900
Core deposits    
Finite-Lived Intangible Assets [Line Items]    
Gross Intangible Assets 104,751 104,751
Accumulated Amortization (60,999) (50,754)
Net Intangible Assets $ 43,752 $ 53,997
Amortization Period 10 years 10 years
Indefinite-Lived Intangible Assets [Line Items]    
Accumulated Amortization $ (60,999) $ (50,754)
Customer relationships    
Finite-Lived Intangible Assets [Line Items]    
Gross Intangible Assets 73,880 73,880
Accumulated Amortization (23,588) (18,153)
Net Intangible Assets 50,292 55,727
Indefinite-Lived Intangible Assets [Line Items]    
Accumulated Amortization $ (23,588) $ (18,153)
Customer relationships | Minimum    
Finite-Lived Intangible Assets [Line Items]    
Amortization Period 7 years 7 years
Customer relationships | Maximum    
Finite-Lived Intangible Assets [Line Items]    
Amortization Period 15 years 15 years
Loan servicing rights    
Finite-Lived Intangible Assets [Line Items]    
Gross Intangible Assets $ 11,220 $ 12,613
Accumulated Amortization (5,901) (6,575)
Net Intangible Assets 5,319 6,038
Impairment losses 600 100
Indefinite-Lived Intangible Assets [Line Items]    
Accumulated Amortization $ (5,901) $ (6,575)
Loan servicing rights | Minimum    
Finite-Lived Intangible Assets [Line Items]    
Amortization Period 10 years 10 years
Loan servicing rights | Maximum    
Finite-Lived Intangible Assets [Line Items]    
Amortization Period 25 years 25 years
v3.25.0.1
GOODWILL AND INTANGIBLE ASSETS - Estimated Amortization Expense of Intangibles (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]    
2025 $ 16,635  
2026 15,916  
2027 15,435  
2028 14,596  
2029 10,312  
Thereafter 26,469  
Net Intangible Assets $ 99,363 $ 118,662
v3.25.0.1
DEPOSITS - Deposits by Category (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Noninterest-bearing:    
Noninterest-bearing demand $ 4,987,753 $ 4,917,297
Total noninterest-bearing 4,987,753 4,917,297
Interest-bearing:    
Interest-bearing demand 2,973,431 2,935,530
Savings 1,466,289 1,610,143
Money market 5,471,611 5,175,123
Customer time deposits 2,130,724 1,784,317
Brokered deposits 0 51,676
Total interest-bearing 12,042,055 11,556,789
Total deposits $ 17,029,808 $ 16,474,086
v3.25.0.1
DEPOSITS - Remaining Time to Maturity for Time Deposits (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Certificates of deposit (not jumbo):    
Less than one year $ 1,568,970 $ 1,391,157
One year to two years 87,276 47,336
Two years to three years 11,734 14,375
Three years to four years 9,894 9,207
Over four years 6,410 10,166
Total certificates of deposit (not jumbo) 1,684,284 1,472,241
Jumbo certificates of deposit    
Less than one year 427,841 305,511
One year to two years 17,373 4,486
Two years to three years 684 662
Three years to four years 0 689
Over four years 542 728
Total jumbo certificates of deposit 446,440 312,076
Total certificates of deposit 2,130,724 $ 1,784,317
Jumbo certificates of deposit from individuals, businesses and municipalities $ 250  
v3.25.0.1
DEPOSITS - Interest Expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Deposits Liabilities, Balance Sheet, Reported Amounts [Abstract]      
Interest-bearing demand $ 33,007 $ 26,671 $ 7,441
Money market 183,306 122,168 13,536
Savings 7,314 5,733 965
Time deposits 84,871 45,184 5,626
Total customer interest expense 308,498 199,756 27,568
Brokered deposits 178 10,064 613
Total interest expense on deposits $ 308,676 $ 209,820 $ 28,181
v3.25.0.1
BORROWED FUNDS - Borrowed Funds by Type (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Federal funds purchased    
Debt Instrument [Line Items]    
Balance at End of Period $ 0 $ 0
Weighted Average Interest Rate 0.00% 0.00%
Maximum Outstanding at Month End During the Period $ 170,000 $ 130,000
Average Amount Outstanding During the Year $ 6,735 $ 33,195
Weighted Average Interest Rate During the Year 5.09% 5.04%
FHLB advances    
Debt Instrument [Line Items]    
Balance at End of Period $ 51,040 $ 0
Weighted Average Interest Rate 4.33% 0.00%
Maximum Outstanding at Month End During the Period $ 172,306 $ 800,000
Average Amount Outstanding During the Year $ 56,855 $ 103,268
Weighted Average Interest Rate During the Year 5.22% 5.18%
Trust preferred borrowings    
Debt Instrument [Line Items]    
Balance at End of Period $ 90,834 $ 90,638
Weighted Average Interest Rate 6.59% 7.51%
Maximum Outstanding at Month End During the Period $ 90,834 $ 90,638
Average Amount Outstanding During the Year $ 90,730 $ 90,534
Weighted Average Interest Rate During the Year 7.62% 7.44%
Senior and subordinated debt    
Debt Instrument [Line Items]    
Balance at End of Period $ 218,631 $ 218,400
Weighted Average Interest Rate 4.01% 4.34%
Maximum Outstanding at Month End During the Period $ 218,631 $ 248,189
Average Amount Outstanding During the Year $ 218,507 $ 221,975
Weighted Average Interest Rate During the Year 4.43% 4.42%
Other borrowed funds    
Debt Instrument [Line Items]    
Balance at End of Period $ 23,102 $ 586,038
Weighted Average Interest Rate 0.30% 0.28%
Maximum Outstanding at Month End During the Period $ 825,152 $ 739,346
Average Amount Outstanding During the Year $ 639,186 $ 409,002
Weighted Average Interest Rate During the Year 4.62% 4.41%
v3.25.0.1
BORROWED FUNDS - Narrative (Details) - USD ($)
 11 Months Ended 12 Months Ended
Jan. 01, 2022
Dec. 03, 2020
Dec. 14, 2022
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2005
Dec. 15, 2022
Repurchase Agreement Counterparty [Line Items]              
FHLB advances, weighted average interest rate (as a percent)       4.33%      
Stock in Federal Home Loan Bank of Pittsburgh, at cost       $ 11,805,000 $ 15,398,000    
Securities sold under agreements to repurchase       0 0    
Collateralized borrowings       23,100,000 586,000,000.0    
Other borrowed funds              
Repurchase Agreement Counterparty [Line Items]              
Outstanding borrowings       23,102,000 586,038,000    
Federal Reserve Bank of Philadelphia              
Repurchase Agreement Counterparty [Line Items]              
Loans and securities pledged as collateral       2,500,000,000 2,100,000,000    
Federal Reserve Bank of Philadelphia | Other borrowed funds              
Repurchase Agreement Counterparty [Line Items]              
Outstanding borrowings       $ 0 565,000,000.0    
SOFR              
Repurchase Agreement Counterparty [Line Items]              
Variable interest rate (as a percent)       2.41%      
WSFS Capital Trust III | Trust Preferred Borrowings | LIBOR              
Repurchase Agreement Counterparty [Line Items]              
Variable interest rate (as a percent)           1.77%  
Trusts              
Repurchase Agreement Counterparty [Line Items]              
Trust common securities owned $ 800,000            
Aggregate principal amount of Pooled Floating Rate Securities 12,500,000            
Floating rate common securities issued 400,000            
FHLB Advances              
Repurchase Agreement Counterparty [Line Items]              
Stock in Federal Home Loan Bank of Pittsburgh, at cost       $ 11,800,000 15,400,000    
Dividends from the FHLB       $ 1,500,000 1,100,000    
Junior Subordinated Debt              
Repurchase Agreement Counterparty [Line Items]              
Interest rate on unsecured debt (as a percent)       6.77%      
Junior Subordinated Debt | SOFR              
Repurchase Agreement Counterparty [Line Items]              
Variable interest rate (as a percent)       2.41%      
Junior Subordinated Debt | Trusts              
Repurchase Agreement Counterparty [Line Items]              
Trust capital securities issued 11,900,000            
Trust capital securities issued net 23,800,000            
Senior Notes 2030              
Repurchase Agreement Counterparty [Line Items]              
Interest rate on unsecured debt (as a percent)   2.75%          
Debt instrument, face amount   $ 150,000,000.0          
Redemption price (as a percent)   100.00%          
Debt issuance costs, gross       $ 148,600,000 148,400,000    
Senior Notes 2030 | SOFR              
Repurchase Agreement Counterparty [Line Items]              
Variable interest rate (as a percent)   2.485%          
Senior Notes 2025              
Repurchase Agreement Counterparty [Line Items]              
Debt instrument, face amount $ 30,000,000.0            
Senior Notes 2025 | LIBOR              
Repurchase Agreement Counterparty [Line Items]              
Variable interest rate (as a percent) 3.068%            
Senior Notes 2027              
Repurchase Agreement Counterparty [Line Items]              
Variable interest rate (as a percent)     4.25%        
Interest rate on unsecured debt (as a percent)             6.67%
Debt instrument, face amount $ 70,000,000.0            
Carrying value of securities purchased under agreements       $ 70,000,000.0 $ 70,000,000.0    
Senior Notes 2027 | SOFR              
Repurchase Agreement Counterparty [Line Items]              
Variable interest rate (as a percent) 2.31%            
Minimum              
Repurchase Agreement Counterparty [Line Items]              
FHLB advances, weighted average interest rate (as a percent)       3.77%      
Maximum              
Repurchase Agreement Counterparty [Line Items]              
FHLB advances, weighted average interest rate (as a percent)       4.72%      
v3.25.0.1
BORROWED FUNDS - Federal Home Loan Bank Advances (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
Amount  
2025 $ 7,882
2026 16,261
2027 26,897
Total amount $ 51,040
Weighted Average Rate  
2025 4.30%
2026 3.96%
2027 4.56%
FHLB advances, weighted average interest rate (as a percent) 4.33%
v3.25.0.1
STOCKHOLDERS' EQUITY AND REGULATORY CAPITAL - Narrative (Details)
$ / shares in Units, $ in Millions
 12 Months Ended
Jan. 01, 2022
USD ($)
Dec. 31, 2024
USD ($)
$ / shares
shares
Dec. 31, 2023
$ / shares
shares
Dec. 31, 2022
shares
Dec. 31, 2005
USD ($)
Capital Unit [Line Items]          
Ratio of common equity Tier 1 capital to risk-weighted assets percent   4.50% 4.50%    
Ratio of Tier 1 capital to risk-weighted assets percent   0.1381 0.1317    
Ratio of total capital to risk-weighted assets percent   0.1577 0.1523    
Tier 1 leverage ratio percent   0.1096 0.1048    
Common stock outstanding, par value (in dollars per share) | $ / shares   $ 0.01 $ 0.01    
Coupon rate (as a percent)   6.53%      
Cash that remains at the holding company   $ 275.4      
Minimum annual net income expected (as percent)   35.00%      
Additional Stock Buyback Program          
Capital Unit [Line Items]          
Common stock average repurchase price (in dollars per share) | $ / shares   $ 46.55      
Treasury Stock          
Capital Unit [Line Items]          
Repurchases of common stock (in shares) | shares   2,049,739 1,247,178 4,151,117  
Junior Subordinated Debt          
Capital Unit [Line Items]          
Interest rate on unsecured debt (as a percent)   6.77%      
WSFS Capital Trust III          
Capital Unit [Line Items]          
Pooled floating rate securities, par value         $ 2.0
Pooled floating rate securities issued         $ 67.0
Trusts          
Capital Unit [Line Items]          
Trust common securities owned $ 0.8        
Trusts | Junior Subordinated Debt          
Capital Unit [Line Items]          
Trust capital securities issued 11.9        
Trust capital securities issued net $ 23.8        
SOFR          
Capital Unit [Line Items]          
Variable interest rate (as a percent)   2.41%      
SOFR | Junior Subordinated Debt          
Capital Unit [Line Items]          
Variable interest rate (as a percent)   2.41%      
Trust Preferred Borrowings | LIBOR | WSFS Capital Trust III          
Capital Unit [Line Items]          
Variable interest rate (as a percent)         1.77%
Minimum          
Capital Unit [Line Items]          
Ratio of common equity Tier 1 capital to risk-weighted assets percent   4.50%      
Ratio of Tier 1 capital to risk-weighted assets percent   0.0600      
Ratio of total capital to risk-weighted assets percent   0.0800      
Tier 1 leverage ratio percent   0.0400      
v3.25.0.1
STOCKHOLDERS' EQUITY AND REGULATORY CAPITAL - Capital Position (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Capital Unit [Line Items]    
Total Capital (to risk-weighted assets), Consolidated Capital Amount $ 2,575,170 $ 2,426,577
Tier 1 Capital (to risk-weighted assets), Consolidated Capital Amount 2,254,907 2,098,403
Common Equity Tier 1 Capital (to risk-weighted assets), Consolidated Bank Capital Amount 2,254,907 2,098,403
Tier 1 Capital (to adjusted tangible assets), Consolidated Capital Amount $ 2,254,907 $ 2,098,403
Total Capital (to risk-weighted assets), Consolidated Capital Percent 0.1577 0.1523
Tier 1 Capital (to risk-weighted assets), Consolidated Capital Percent 0.1381 0.1317
Common Equity Tier 1 Capital (to risk-weighted assets), Consolidated Capital Percent 13.81% 13.17%
Tier 1 Leverage Capital , Consolidated Capital Percent 0.1096 0.1048
Total Capital (to risk-weighted assets), Minimum For Capital Adequacy Purposes Amount $ 1,306,677 $ 1,274,611
Tier 1 Capital (to risk-weighted assets), Minimum For Capital Adequacy Purposes Amount 980,008 955,958
Common Equity Tier 1 Capital (to risk-weighted assets), Minimum For Capital Adequacy Purposes Amount 735,006 716,969
Tier 1 Leverage Capital, Minimum For Capital Adequacy Purposes Amount $ 822,637 $ 800,934
Total Capital (to risk-weighted assets), Minimum For Capital Adequacy Purposes Percent 0.0800 0.0800
Tier 1 Capital (to risk-weighted assets), Minimum For Capital Adequacy Purposes Percent 0.0600 0.0600
Common Equity Tier 1 Capital (to risk-weighted assets), Minimum For Capital Adequacy Purposes Percent 4.50% 4.50%
Tier 1 Leverage Capital, Minimum For Capital Adequacy Purposes Percent 0.0400 0.0400
Total Capital (to risk-weighted assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions Amount $ 1,633,346 $ 1,593,264
Tier 1 Capital (to risk-weighted assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions Amount 1,306,677 1,274,611
Common Equity Tier 1 Capital (to risk-weighted assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions Amount 1,061,675 1,035,621
Tier 1 Leverage Capital, To Be Well-Capitalized Under Prompt Corrective Action Provisions Amount $ 1,028,296 $ 1,001,168
Total Capital (to risk-weighted assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions Percent 0.1000 0.1000
Tier 1 Capital (to risk-weighted assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions Percent 0.0800 0.0800
Common Equity Tier 1 Capital (to risk-weighted assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions Percent 6.50% 6.50%
Tier 1 Leverage Capital, To Be Well-Capitalized Under Prompt Corrective Action Provisions Percent 0.0500 0.0500
Wilmington Savings Fund Society, FSB    
Capital Unit [Line Items]    
Total Capital (to risk-weighted assets), Consolidated Capital Amount $ 2,470,183 $ 2,382,514
Tier 1 Capital (to risk-weighted assets), Consolidated Capital Amount 2,265,995 2,184,193
Common Equity Tier 1 Capital (to risk-weighted assets), Consolidated Bank Capital Amount 2,265,995 2,184,193
Tier 1 Capital (to adjusted tangible assets), Consolidated Capital Amount $ 2,265,995 $ 2,184,193
Total Capital (to risk-weighted assets), Consolidated Capital Percent 0.1513 0.1496
Tier 1 Capital (to risk-weighted assets), Consolidated Capital Percent 0.1388 0.1372
Common Equity Tier 1 Capital (to risk-weighted assets), Consolidated Capital Percent 13.88% 13.72%
Tier 1 Leverage Capital , Consolidated Capital Percent 0.1103 0.1092
Total Capital (to risk-weighted assets), Minimum For Capital Adequacy Purposes Amount $ 1,306,507 $ 1,273,856
Tier 1 Capital (to risk-weighted assets), Minimum For Capital Adequacy Purposes Amount 979,880 955,392
Common Equity Tier 1 Capital (to risk-weighted assets), Minimum For Capital Adequacy Purposes Amount 734,910 716,544
Tier 1 Leverage Capital, Minimum For Capital Adequacy Purposes Amount $ 822,045 $ 800,021
Total Capital (to risk-weighted assets), Minimum For Capital Adequacy Purposes Percent 0.0800 0.0800
Tier 1 Capital (to risk-weighted assets), Minimum For Capital Adequacy Purposes Percent 0.0600 0.0600
Common Equity Tier 1 Capital (to risk-weighted assets), Minimum For Capital Adequacy Purposes Percent 4.50% 4.50%
Tier 1 Leverage Capital, Minimum For Capital Adequacy Purposes Percent 0.0400 0.0400
Total Capital (to risk-weighted assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions Amount $ 1,633,133 $ 1,592,320
Tier 1 Capital (to risk-weighted assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions Amount 1,306,507 1,273,856
Common Equity Tier 1 Capital (to risk-weighted assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions Amount 1,061,537 1,035,008
Tier 1 Leverage Capital, To Be Well-Capitalized Under Prompt Corrective Action Provisions Amount $ 1,027,556 $ 1,000,026
Total Capital (to risk-weighted assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions Percent 0.1000 0.1000
Tier 1 Capital (to risk-weighted assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions Percent 0.0800 0.0800
Common Equity Tier 1 Capital (to risk-weighted assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions Percent 6.50% 6.50%
Tier 1 Leverage Capital, To Be Well-Capitalized Under Prompt Corrective Action Provisions Percent 0.0500 0.0500
v3.25.0.1
ASSOCIATE BENEFIT PLANS - Narrative (Details)
 12 Months Ended
Mar. 31, 2014
Dec. 31, 2024
USD ($)
plan
shares
Dec. 31, 2023
USD ($)
shares
Dec. 31, 2022
USD ($)
shares
Defined Benefit Plan Disclosure [Line Items]        
Cash contributions to the plan on behalf of associates, cash expenditure   $ 10,700,000 $ 10,100,000 $ 9,100,000
Percentage of contributions to be invested in balanced fund if no designation made (as a percent)   100.00%    
Employee benefit plan, sales of common stock (in shares) | shares   65,000 14,000 8,000
Employee benefit plan purchase of common stock (in shares) | shares   0 0 0
Requisite service period (in years) 10 years      
Amortization of unrecognized gains losses exceed (as a percent)   10.00%    
Annual medical premium cap (as a percent)   4.00%    
Amount of annual health premium per retiree   $ 4,496    
Expected future employer contributions, per employee   $ 4,676    
Asset allocation (as a percent)   100.00% 100.00%  
Number of additional supplemental plans | plan   4    
Supplemental Pension Plan        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit pension plan, corresponding liability (less than)   $ 100,000 $ 200,000  
Early Retirement Window Plan        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit pension plan, corresponding liability (less than)   100,000 100,000  
Supplemental Executive Retirement Plan        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit pension plan, corresponding liability (less than)   1,300,000 1,300,000  
Post-Retirement Medical Plan        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit pension plan, corresponding liability (less than)   $ 100,000 $ 100,000  
Less than 100%        
Defined Benefit Plan Disclosure [Line Items]        
Target allocation (as a percent)   110.00%    
More than 100%        
Defined Benefit Plan Disclosure [Line Items]        
Target allocation (as a percent)   110.00%    
Risk Management        
Defined Benefit Plan Disclosure [Line Items]        
Asset allocation (as a percent)   66.10% 66.90%  
Maximum        
Defined Benefit Plan Disclosure [Line Items]        
Average annual rate of increase for medical benefits (less than) (as a percent)   10.00%    
Maximum | Risk Management | Less than 100%        
Defined Benefit Plan Disclosure [Line Items]        
Asset allocation (as a percent)   80.00%    
Maximum | Risk Management | More than 100%        
Defined Benefit Plan Disclosure [Line Items]        
Asset allocation (as a percent)   90.00%    
Maximum | Return Enhancement | Less than 100%        
Defined Benefit Plan Disclosure [Line Items]        
Asset allocation (as a percent)   60.00%    
Maximum | Return Enhancement | More than 100%        
Defined Benefit Plan Disclosure [Line Items]        
Asset allocation (as a percent)   50.00%    
Minimum | Risk Management | Less than 100%        
Defined Benefit Plan Disclosure [Line Items]        
Asset allocation (as a percent)   40.00%    
Minimum | Risk Management | More than 100%        
Defined Benefit Plan Disclosure [Line Items]        
Asset allocation (as a percent)   50.00%    
Minimum | Return Enhancement | Less than 100%        
Defined Benefit Plan Disclosure [Line Items]        
Asset allocation (as a percent)   20.00%    
Minimum | Return Enhancement | More than 100%        
Defined Benefit Plan Disclosure [Line Items]        
Asset allocation (as a percent)   10.00%    
v3.25.0.1
ASSOCIATE BENEFIT PLANS - Net Periodic Benefit Cost Components of Postretirement Benefits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Change in benefit obligation:      
Benefit obligation at beginning of year $ 1,311 $ 1,331 $ 2,138
Service cost 32 33 52
Interest cost 66 65 51
Actuarial gain (40) (68) (833)
Benefits paid (83) (50) (77)
Benefit obligation at end of year 1,286 1,311 1,331
Change in plan assets:      
Fair value of plan assets at beginning of year 0 0 0
Employer contributions 83 50 77
Benefits paid (83) (50) (77)
Fair value of plan assets at end of year 0 0 0
Unfunded status (1,286) (1,311) (1,331)
Amounts recognized in accumulated other comprehensive income:      
Net prior service credit 131 207 283
Net gain 1,132 1,263 1,625
Net amount recognized 1,263 1,470 1,908
Components of net periodic benefit income:      
Service cost 32 33 52
Interest cost 66 65 51
Amortization of prior service credit (76) (76) (76)
Net loss (gain) recognition (147) (160) (84)
Net periodic benefit income $ (125) $ (138) $ (57)
Assumption used to determine net periodic benefit cost:      
Discount rate 4.80% 5.00% 2.80%
Assumption used to value the Accumulated Postretirement Benefit Obligation (APBO):      
Discount rate 5.50% 5.30% 5.00%
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration] Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, after Tax Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, after Tax Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, after Tax
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration] Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, after Tax Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, after Tax Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, after Tax
v3.25.0.1
ASSOCIATE BENEFIT PLANS - Estimated Future Benefit Payments (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
Retirement Benefits [Abstract]  
During 2025 $ 57
During 2026 60
During 2027 64
During 2028 67
During 2029 69
During 2029 through 2033 406
Total $ 723
v3.25.0.1
ASSOCIATE BENEFIT PLANS - Beneficial Pension and Other Postretirement Benefit Plans (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Change in benefit obligation:      
Benefit obligation at beginning of year $ 1,311 $ 1,331 $ 2,138
Service cost 32 33 52
Interest cost 66 65 51
Actuarial (gain) loss (40) (68) (833)
Benefits paid (83) (50) (77)
Benefit obligation at end of year 1,286 1,311 1,331
Change in plan assets:      
Fair value of plan assets at beginning of year 0 0 0
Employer contributions 83 50 77
Benefits paid (83) (50) (77)
Fair value of plan assets at end of year 0 0 0
Funded (unfunded) status (1,286) (1,311) (1,331)
Amounts recognized in accumulated other comprehensive income:      
Net loss (gain) (1,132) (1,263) (1,625)
Components of net periodic benefit (income) cost:      
Service cost 32 33 52
Interest cost 66 65 51
Net loss (gain) recognition (147) (160) (84)
Net periodic benefit (income) cost (125) (138) (57)
Beneficial | Pension Benefits      
Change in benefit obligation:      
Benefit obligation at beginning of year 76,119 75,151 104,695
Service cost 0 0 0
Interest cost 3,581 3,700 2,425
Plan participants' contributions 0 0 0
Actuarial (gain) loss (5,481) 1,604 (26,233)
Benefits paid (5,035) (4,336) (5,736)
Benefit obligation at end of year 69,184 76,119 75,151
Change in plan assets:      
Fair value of plan assets at beginning of year 82,090 79,287 108,242
Actual return on plan assets 1,439 7,499 (22,867)
Employer contributions 126 240 225
Participants' contributions 0 0 0
Benefits paid (5,035) (4,336) (5,736)
Administrative expenses (571) (600) (577)
Fair value of plan assets at end of year 78,049 82,090 79,287
Funded (unfunded) status 8,865 5,971 4,136
Amounts recognized in accumulated other comprehensive income:      
Net loss (gain) 8,370 9,920 10,658
Components of net periodic benefit (income) cost:      
Service cost 0 0 0
Interest cost 3,581 3,700 2,425
Expected return on plan assets (4,924) (4,793) (6,586)
Net loss (gain) recognition 129 281 16
Net periodic benefit (income) cost (1,214) (812) (4,145)
Beneficial | Other Postretirement Benefits      
Change in benefit obligation:      
Benefit obligation at beginning of year 13,471 13,894 18,105
Service cost 8 14 33
Interest cost 648 659 383
Plan participants' contributions 41 63 55
Actuarial (gain) loss 68 256 (3,346)
Benefits paid (1,382) (1,415) (1,336)
Benefit obligation at end of year 12,854 13,471 13,894
Change in plan assets:      
Fair value of plan assets at beginning of year 0 0 0
Actual return on plan assets 0 0 0
Employer contributions 1,341 1,352 1,281
Participants' contributions 41 63 55
Benefits paid (1,382) (1,415) (1,336)
Administrative expenses 0 0 0
Fair value of plan assets at end of year 0 0 0
Funded (unfunded) status (12,854) (13,471) (13,894)
Amounts recognized in accumulated other comprehensive income:      
Net loss (gain) (2,386) (2,612) (3,259)
Components of net periodic benefit (income) cost:      
Service cost 8 14 33
Interest cost 648 659 383
Expected return on plan assets 0 0 0
Net loss (gain) recognition (158) (392) 0
Net periodic benefit (income) cost $ 498 $ 281 $ 416
v3.25.0.1
ASSOCIATE BENEFIT PLANS - Significant Assumptions (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]      
Discount rate for net periodic benefit cost 4.80% 5.00% 2.80%
Discount rate for disclosure obligations 5.50% 5.30% 5.00%
Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Discount rate for net periodic benefit cost 5.01% 5.24% 2.82%
Expected return on plan assets 6.25% 6.25% 6.25%
Discount rate for disclosure obligations 5.60% 5.01% 5.24%
Other Postretirement Benefits | FMS Other Postretirement      
Defined Benefit Plan Disclosure [Line Items]      
Discount rate for net periodic benefit cost 4.73% 4.93% 2.07%
Discount rate for disclosure obligations 5.15% 4.73% 4.93%
Other Postretirement Benefits | Split-Dollar Plan      
Defined Benefit Plan Disclosure [Line Items]      
Discount rate for net periodic benefit cost 4.72% 4.92% 2.05%
Discount rate for disclosure obligations 5.13% 4.73% 4.92%
Other Postretirement Benefits | Beneficial      
Defined Benefit Plan Disclosure [Line Items]      
Discount rate for net periodic benefit cost 4.96% 5.18% 2.69%
Discount rate for disclosure obligations 5.51% 4.96% 5.18%
v3.25.0.1
ASSOCIATE BENEFIT PLANS - Estimated Future Benefit Payments (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
Defined Benefit Plan Disclosure [Line Items]  
During 2025 $ 57
During 2026 60
During 2027 64
During 2028 67
During 2029 69
During 2029 through 2033 406
Total 723
Beneficial | Pension Benefits  
Defined Benefit Plan Disclosure [Line Items]  
During 2025 4,536
During 2026 5,120
During 2027 5,497
During 2028 5,020
During 2029 4,641
During 2029 through 2033 25,894
Total 50,708
Beneficial | Other Postretirement Benefits  
Defined Benefit Plan Disclosure [Line Items]  
During 2025 1,228
During 2026 1,220
During 2027 1,202
During 2028 1,185
During 2029 1,150
During 2029 through 2033 5,129
Total $ 11,114
v3.25.0.1
ASSOCIATE BENEFIT PLANS - Fair Value Weighted Average Asset Allocations (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets $ 0 $ 0 $ 0 $ 0
Asset allocation (as a percent) 100.00% 100.00%    
Total        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets $ 78,049 $ 82,090    
Level 1        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets 69,091 71,347    
Level 2        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets 8,958 10,743    
Level 3        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets $ 0 $ 0    
Large cap        
Defined Benefit Plan Disclosure [Line Items]        
Asset allocation (as a percent) 4.40% 3.90%    
Large cap | Total        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets $ 3,406 $ 3,215    
Large cap | Level 1        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets 3,406 3,215    
Large cap | Level 2        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets 0 0    
Large cap | Level 3        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets $ 0 $ 0    
International        
Defined Benefit Plan Disclosure [Line Items]        
Asset allocation (as a percent) 8.00% 7.10%    
International | Total        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets $ 6,252 $ 5,839    
International | Level 1        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets 6,252 5,839    
International | Level 2        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets 0 0    
International | Level 3        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets $ 0 $ 0    
Global Managed Volatility        
Defined Benefit Plan Disclosure [Line Items]        
Asset allocation (as a percent) 7.10% 6.30%    
Global Managed Volatility | Total        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets $ 5,546 $ 5,177    
Global Managed Volatility | Level 1        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets 5,546 5,177    
Global Managed Volatility | Level 2        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets 0 0    
Global Managed Volatility | Level 3        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets $ 0 $ 0    
U.S. Managed Volatility        
Defined Benefit Plan Disclosure [Line Items]        
Asset allocation (as a percent) 2.70% 2.40%    
U.S. Managed Volatility | Total        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets $ 2,070 $ 1,932    
U.S. Managed Volatility | Level 1        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets 2,070 1,932    
U.S. Managed Volatility | Level 2        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets 0 0    
U.S. Managed Volatility | Level 3        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets $ 0 $ 0    
Fixed Income        
Defined Benefit Plan Disclosure [Line Items]        
Asset allocation (as a percent) 66.10% 66.90%    
Fixed Income | Total        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets $ 51,592 $ 54,878    
Fixed Income | Level 1        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets 51,592 54,878    
Fixed Income | Level 2        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets 0 0    
Fixed Income | Level 3        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets $ 0 $ 0    
U.S. Government Agencies        
Defined Benefit Plan Disclosure [Line Items]        
Asset allocation (as a percent) 11.50% 13.10%    
U.S. Government Agencies | Total        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets $ 8,958 $ 10,743    
U.S. Government Agencies | Level 1        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets 0 0    
U.S. Government Agencies | Level 2        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets 8,958 10,743    
U.S. Government Agencies | Level 3        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets $ 0 $ 0    
Pooled separate accounts        
Defined Benefit Plan Disclosure [Line Items]        
Asset allocation (as a percent) 0.00% 0.10%    
Pooled separate accounts | Total        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets $ 13 $ 98    
Pooled separate accounts | Level 1        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets 13 98    
Pooled separate accounts | Level 2        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets 0 0    
Pooled separate accounts | Level 3        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets $ 0 $ 0    
Accrued Income        
Defined Benefit Plan Disclosure [Line Items]        
Asset allocation (as a percent) 0.20% 0.20%    
Accrued Income | Total        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets $ 212 $ 208    
Accrued Income | Level 1        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets 212 208    
Accrued Income | Level 2        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets 0 0    
Accrued Income | Level 3        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan fair value of assets $ 0 $ 0    
v3.25.0.1
INCOME TAXES - Components of Income Tax Expense (Benefit) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Current income taxes:      
Federal taxes $ 69,589 $ 81,674 $ 63,203
State and local taxes 22,337 19,968 18,763
Deferred income taxes:      
Federal taxes (6,817) (5,331) (4,094)
State and local taxes (1,345) (66) 89
Total $ 83,764 $ 96,245 $ 77,961
v3.25.0.1
INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Deferred tax assets:    
Allowance for credit losses $ 42,441 $ 40,518
Purchase accounting adjustments—loans 8,094 10,285
Reserves and other accruals 33,250 25,093
Net operating losses 2,131 2,725
Derivatives 3,258 2,806
Lease liabilities 31,996 31,835
Unrealized losses on available-for-sale securities 193,956 186,775
Other 1,379 1,422
Total deferred tax assets 316,505 301,459
Deferred tax liabilities:    
Accelerated depreciation (5,735) (5,790)
Right of use assets (27,536) (27,426)
Intangibles (31,278) (33,675)
Other (3,795) (4,306)
Total deferred tax liabilities (68,344) (71,197)
Net deferred tax asset $ 248,161 $ 230,262
v3.25.0.1
INCOME TAXES - Narrative (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Examination [Line Items]      
Deferred income tax (benefit) expense $ 0    
Deferred tax asset 248,161,000 $ 230,262,000  
Alternative minimum tax credits 500,000    
Proceeds from bank-owned life insurance surrender, including non-cash income   65,500,000  
Proceeds from Bank-Owned Life Insurance, surrender, taxable gain   22,600,000  
Income tax charge on BOLI   7,100,000  
Unrecognized tax benefits 0    
Amortization of low-income housing credit investments reflected as income tax expense $ 5,300,000 $ 3,900,000 $ 4,800,000
Investment Program, Proportional Amortization Method, Applied, Amortization Expense, Statement of Cash Flows [Extensible Enumeration] Income tax (benefit) expense Income tax (benefit) expense  
Investment Program, Proportional Amortization Method, Applied, Amortization Expense, Statement of Income or Comprehensive Income [Extensible Enumeration]     Income tax (benefit) expense
Tax credit $ 5,800,000    
Affordable housing tax benefits 1,700,000    
Carrying value of investment in affordable housing credits $ 94,300,000 $ 87,100,000  
Investment, Proportional Amortization Method, Elected, Statement of Financial Position [Extensible Enumeration] Income tax (benefit) expense Income tax (benefit) expense  
Federal      
Income Tax Examination [Line Items]      
Net operating loss carryforwards $ 10,100,000    
Federal net operating loss $ 2,800,000    
v3.25.0.1
INCOME TAXES - Effective Income Tax Rate Reconciliation (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Statutory federal income tax rate 21.00% 21.00% 21.00%
State tax, net of federal tax benefit 4.70% 4.40% 5.10%
Tax-exempt interest (0.70%) (0.60%) (0.50%)
Bank-owned life insurance income (0.10%) (0.10%) 0.00%
Nondeductible acquisition costs 0.00% 0.00% 0.10%
Federal tax credits, net of amortization (1.30%) (0.50%) (0.40%)
Nondeductible compensation 0.10% 0.10% 0.20%
Nondeductible goodwill 0.00% 0.00% 0.50%
Surrender of bank-owned life insurance policies 0.00% 1.90% 0.00%
Other 0.40% 0.10% (0.10%)
Effective tax rate 24.10% 26.30% 25.90%
v3.25.0.1
STOCK-BASED COMPENSATION - Narrative (Details)
$ / shares in Units, $ in Millions
 1 Months Ended 12 Months Ended
Dec. 10, 2020
shares
Feb. 28, 2019
goal
Dec. 31, 2024
USD ($)
$ / shares
shares
Dec. 31, 2023
USD ($)
$ / shares
shares
Dec. 31, 2022
USD ($)
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Stock-based compensation expense recognized     $ 12.7 $ 10.0 $ 9.0
Stock-based compensation expense after tax     $ 9.6 $ 7.6 $ 6.7
Granted (in shares) | shares     0 0 0
Aggregate intrinsic value of options exercised     $ 0.8 $ 0.5 $ 0.8
Total unrecognized compensation cost of nonvested stock options     $ 0.1    
Expected weighted-average period (in years)     3 months 10 days    
Non-Vested Stock Options          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Stock-based compensation expense recognized     $ 0.2 0.3 0.7
Performance Stock Units          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Award requisite service period (in years)     3 years    
Performance achievement period (in years)     3 years    
Stock-based compensation expense recognized     $ 3.4 $ 1.6 $ 0.9
Weighted average fair value, granted (in dollars per share) | $ / shares     $ 42.39 $ 49.69 $ 49.76
Total compensation cost to be recognized     $ 10.7    
Weighted average remaining contractual term (in years)     1 year 8 months 23 days    
Granted (in shares) | shares     129,802    
Performance Stock Units | Share-based Compensation Award, Tranche One          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Vesting (as a percent)     25.00%    
Performance Stock Units | Share-Based Compensation Award, Tranche Two          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Vesting (as a percent)     50.00%    
Performance Stock Units | Share-Based Compensation Award, Tranche Three          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Vesting (as a percent)     75.00%    
Performance Stock Units | Share-Based Payment Arrangement, Tranche Four          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Vesting (as a percent)     100.00%    
Restricted Stock Units (RSUs)          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Vesting period (in years)     3 years    
Stock-based compensation expense recognized     $ 8.2 $ 6.3 $ 7.5
Weighted average fair value, granted (in dollars per share) | $ / shares     $ 44.93 $ 47.68 $ 49.24
Total compensation cost to be recognized     $ 11.8    
Weighted average remaining contractual term (in years)     1 year 10 months 20 days    
Total fair value, vested     $ 7.0 $ 5.1 $ 4.5
Granted (in shares) | shares     214,816    
Executive Officers | Restricted Stock Units (RSUs)          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Vesting period (in years)   5 years      
Performance achievement period (in years)   3 years      
Stock-based compensation expense recognized     $ 0.1 $ 0.1  
Number of goals | goal   3      
Stock options granted, vest in percentage per annum increments (as percent)   20.00%      
Stock Incentive 2018 Plan          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Shares available for future grants under 2018 Plan (in shares) | shares     6,261,709    
Shares reserved for future issuance (in shares) | shares     2,321,904    
Executive Leadership Team Incentive Plan | Restricted Stock Units (RSUs)          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Vesting period (in years)     3 years    
Executive Leadership Team Incentive Plan | Executive Officers | Performance Stock Units          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Vesting period (in years)     3 years    
Award requisite service period (in years)     3 years    
Performance achievement period (in years)     3 years    
Beneficial Acquisition Success Plan          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Vesting period (in years) 3 years        
Beneficial Acquisition Success Plan | Restricted Stock Units (RSUs)          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Granted (in shares) | shares 66,703        
BMBC | Stock Incentive 2018 Plan          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Shares added to plan due to business acquisition (in shares) | shares     261,709    
v3.25.0.1
STOCK-BASED COMPENSATION - Options Including Non-Plan Stock Options (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Stock Options:    
Outstanding at beginning of year (in shares) 252,851  
Exercised (in shares) (49,505)  
Expired (in shares) (32,726)  
Outstanding at end of year (in shares) 170,620 252,851
Nonvested at end of year (in shares) 14,913 49,857
Exercisable at end of year (in shares) 155,707  
Weighted- Average Exercise Price    
Outstanding at beginning of year (in dollars per share) $ 43.49  
Exercised (in dollars per share) 37.64  
Expired (in dollars per share) 48.62  
Outstanding at end of year (in dollars per share) 44.20 $ 43.49
Nonvested at end of year (in dollars per share) 51.84 $ 45.52
Exercisable at end of year (in dollars per share) $ 43.46  
Weighted-Average Remaining Contractual Term (Years)    
Outstanding at end of year 2 years 3 days 2 years 6 months 25 days
Nonvested at end of year 3 months 10 days  
Exercisable at end of year 1 year 10 months 24 days  
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value [Roll Forward]    
Outstanding at end of year $ 1,524 $ 1,106
Nonvested at end of year 19  
Exercisable at end of year $ 1,505  
v3.25.0.1
STOCK-BASED COMPENSATION - Nonvested Stock Option Outstanding (Details)
 12 Months Ended
Dec. 31, 2024
$ / shares
shares
Shares  
Nonvested at beginning of period (in shares) | shares 49,857
Less: vested (in shares) | shares (34,944)
Nonvested at end of period (in shares) | shares 14,913
Weighted-Average Exercise Price  
Nonvested at beginning of period (in dollars per share) $ 45.52
Less: vested (in dollars per share) 42.82
Nonvested at end of period (in dollars per share) 51.84
Weighted-Average Grant Date Fair Value  
Nonvested at beginning of period (in dollars per share) 9.17
Less: vested (in dollars per share) 8.63
Nonvested at end of period (in dollars per share) $ 10.44
v3.25.0.1
STOCK-BASED COMPENSATION - Restricted Stock Units (Details) - Restricted Stock Units (RSUs) - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Units (in whole)      
Beginning balance (in shares) 335,751    
Plus: Granted (in shares) 214,816    
Less: Vested (in shares) (143,722)    
Forfeited (in shares) (17,033)    
Ending balance (in shares) 389,812 335,751  
Weighted Average Grant-Date Fair Value per Unit      
Beginning balance (in dollars per share) $ 47.85    
Plus: Granted (in dollars per share) 44.93 $ 47.68 $ 49.24
Less: vested (in dollars per share) 47.68    
Forfeited (in dollars per share) 46.93    
Ending balance (in dollars per share) $ 46.77 $ 47.85  
v3.25.0.1
STOCK-BASED COMPENSATION - Performance Stock Units (Details) - Performance Stock Units - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Units (in whole)      
Beginning balance (in shares) 157,748    
Plus: Granted (in shares) 129,802    
Ending balance (in shares) 287,550 157,748  
Weighted Average Grant-Date Fair Value per Unit      
Beginning balance (in dollars per share) $ 49.72    
Plus: Granted (in dollars per share) 42.39 $ 49.69 $ 49.76
Ending balance (in dollars per share) $ 46.78 $ 49.72  
v3.25.0.1
COMMITMENTS AND CONTINGENCIES - Off-Balance Sheet Financial Instruments (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Financial instruments with contract amounts which represent potential credit risk:    
Total $ 4,245,500,000 $ 4,119,193,000
Commitments to sell residential mortgages 18,200,000 16,300,000
Commitments of lending operations 0 0
Real Estate    
Financial instruments with contract amounts which represent potential credit risk:    
Commitments of lending operations 1,000,000,000.0 600,000,000
Commercial and industrial loan commitments    
Financial instruments with contract amounts which represent potential credit risk:    
Total 1,841,169,000 1,717,924,000
Owner-occupied commercial loan commitments    
Financial instruments with contract amounts which represent potential credit risk:    
Total 54,162,000 57,013,000
Commercial mortgages loan commitments    
Financial instruments with contract amounts which represent potential credit risk:    
Total 132,276,000 136,379,000
Construction loan commitments    
Financial instruments with contract amounts which represent potential credit risk:    
Total 626,847,000 725,591,000
Commercial standby letters of credit    
Financial instruments with contract amounts which represent potential credit risk:    
Total 101,448,000 107,031,000
Residential loan commitments    
Financial instruments with contract amounts which represent potential credit risk:    
Total 12,751,000 11,797,000
Consumer loan commitments    
Financial instruments with contract amounts which represent potential credit risk:    
Total $ 1,476,847,000 $ 1,363,458,000
v3.25.0.1
COMMITMENTS AND CONTINGENCIES - Narrative (Details)
 12 Months Ended
Dec. 31, 2024
USD ($)
loan
Dec. 31, 2023
USD ($)
loan
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Other Commitments [Line Items]        
Provision for credit losses $ 61,410,000 $ 88,071,000 $ 48,089,000  
Allowance for credit losses on loans and leases 195,281,000 186,126,000 151,861,000 $ 94,507,000
Unfunded Loan Commitment        
Other Commitments [Line Items]        
Provision for credit losses 400,000 200,000 $ 300,000  
Allowance for credit losses on loans and leases 12,500,000 $ 12,100,000    
Secondary Market Loan Sales        
Other Commitments [Line Items]        
Provision for credit losses $ 0      
Number of loans repurchased | loan 3 1    
Loans repurchase amount $ 700,000 $ 800,000    
v3.25.0.1
FAIR VALUE DISCLOSURES OF FINANCIAL ASSETS AND LIABILITIES - Financial Instruments Carried at Fair Value (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Assets measured at fair value on a recurring basis:    
Fair Value $ 3,510,648 $ 3,846,537
Fair Value, Measurements, Recurring    
Assets measured at fair value on a recurring basis:    
Other assets 170,489 153,647
Liabilities measured at fair value on a recurring basis:    
Other liabilities 160,512 151,642
Assets measured at fair value on a nonrecurring basis:    
Total assets measured at fair value 3,681,137 4,000,184
Fair Value, Measurements, Nonrecurring    
Assets measured at fair value on a nonrecurring basis:    
Other real estate owned 5,204 1,569
Total assets measured at fair value 70,419 46,043
Quoted Prices in Active Markets for Identical Asset (Level 1) | Fair Value, Measurements, Recurring    
Assets measured at fair value on a recurring basis:    
Other assets 0 0
Liabilities measured at fair value on a recurring basis:    
Other liabilities 0 0
Assets measured at fair value on a nonrecurring basis:    
Total assets measured at fair value 0 0
Quoted Prices in Active Markets for Identical Asset (Level 1) | Fair Value, Measurements, Nonrecurring    
Assets measured at fair value on a nonrecurring basis:    
Other real estate owned 0 0
Total assets measured at fair value 0 0
Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring    
Assets measured at fair value on a recurring basis:    
Other assets 170,464 153,569
Liabilities measured at fair value on a recurring basis:    
Other liabilities 155,242 137,616
Assets measured at fair value on a nonrecurring basis:    
Total assets measured at fair value 3,681,112 4,000,106
Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Nonrecurring    
Assets measured at fair value on a nonrecurring basis:    
Other real estate owned 0 0
Total assets measured at fair value 49,699 29,268
Significant Unobservable Inputs (Level 3)    
Assets measured at fair value on a recurring basis:    
Other assets 25 78
Assets measured at fair value on a nonrecurring basis:    
Other investments 15,516 15,206
Other real estate owned 5,204 1,569
Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring    
Assets measured at fair value on a recurring basis:    
Other assets 25 78
Liabilities measured at fair value on a recurring basis:    
Other liabilities 5,270 14,026
Assets measured at fair value on a nonrecurring basis:    
Total assets measured at fair value 25 78
Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Nonrecurring    
Assets measured at fair value on a nonrecurring basis:    
Other real estate owned 5,204 1,569
Total assets measured at fair value 20,720 16,775
Other investments | Fair Value, Measurements, Nonrecurring    
Assets measured at fair value on a nonrecurring basis:    
Other investments 15,516 15,206
Other investments | Quoted Prices in Active Markets for Identical Asset (Level 1) | Fair Value, Measurements, Nonrecurring    
Assets measured at fair value on a nonrecurring basis:    
Other investments 0 0
Other investments | Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Nonrecurring    
Assets measured at fair value on a nonrecurring basis:    
Other investments 0 0
Other investments | Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Nonrecurring    
Assets measured at fair value on a nonrecurring basis:    
Other investments 15,516 15,206
Loans held for sale | Fair Value, Measurements, Nonrecurring    
Assets measured at fair value on a nonrecurring basis:    
Loans held for sale 49,699 29,268
Loans held for sale | Quoted Prices in Active Markets for Identical Asset (Level 1) | Fair Value, Measurements, Nonrecurring    
Assets measured at fair value on a nonrecurring basis:    
Loans held for sale 0 0
Loans held for sale | Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Nonrecurring    
Assets measured at fair value on a nonrecurring basis:    
Loans held for sale 49,699 29,268
Loans held for sale | Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Nonrecurring    
Assets measured at fair value on a nonrecurring basis:    
Loans held for sale 0 0
Collateralized mortgage obligations (CMO)    
Assets measured at fair value on a recurring basis:    
Fair Value 430,942 464,619
Collateralized mortgage obligations (CMO) | Fair Value, Measurements, Recurring    
Assets measured at fair value on a recurring basis:    
Fair Value 430,942 464,619
Collateralized mortgage obligations (CMO) | Quoted Prices in Active Markets for Identical Asset (Level 1) | Fair Value, Measurements, Recurring    
Assets measured at fair value on a recurring basis:    
Fair Value 0 0
Collateralized mortgage obligations (CMO) | Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring    
Assets measured at fair value on a recurring basis:    
Fair Value 430,942 464,619
Collateralized mortgage obligations (CMO) | Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring    
Assets measured at fair value on a recurring basis:    
Fair Value 0 0
Fannie Mae (FNMA) mortgage-backed securities (MBS)    
Assets measured at fair value on a recurring basis:    
Fair Value 2,755,579 3,042,350
Fannie Mae (FNMA) mortgage-backed securities (MBS) | Fair Value, Measurements, Recurring    
Assets measured at fair value on a recurring basis:    
Fair Value 2,755,579 3,042,350
Fannie Mae (FNMA) mortgage-backed securities (MBS) | Quoted Prices in Active Markets for Identical Asset (Level 1) | Fair Value, Measurements, Recurring    
Assets measured at fair value on a recurring basis:    
Fair Value 0 0
Fannie Mae (FNMA) mortgage-backed securities (MBS) | Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring    
Assets measured at fair value on a recurring basis:    
Fair Value 2,755,579 3,042,350
Fannie Mae (FNMA) mortgage-backed securities (MBS) | Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring    
Assets measured at fair value on a recurring basis:    
Fair Value 0 0
Freddie Mac (FHLMC) MBS    
Assets measured at fair value on a recurring basis:    
Fair Value 105,514 115,532
Freddie Mac (FHLMC) MBS | Fair Value, Measurements, Recurring    
Assets measured at fair value on a recurring basis:    
Fair Value 105,514 115,532
Freddie Mac (FHLMC) MBS | Quoted Prices in Active Markets for Identical Asset (Level 1) | Fair Value, Measurements, Recurring    
Assets measured at fair value on a recurring basis:    
Fair Value 0 0
Freddie Mac (FHLMC) MBS | Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring    
Assets measured at fair value on a recurring basis:    
Fair Value 105,514 115,532
Freddie Mac (FHLMC) MBS | Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring    
Assets measured at fair value on a recurring basis:    
Fair Value 0 0
Ginnie Mae (GNMA) MBS    
Assets measured at fair value on a recurring basis:    
Fair Value 40,676 43,340
Ginnie Mae (GNMA) MBS | Fair Value, Measurements, Recurring    
Assets measured at fair value on a recurring basis:    
Fair Value 40,676 43,340
Ginnie Mae (GNMA) MBS | Quoted Prices in Active Markets for Identical Asset (Level 1) | Fair Value, Measurements, Recurring    
Assets measured at fair value on a recurring basis:    
Fair Value 0 0
Ginnie Mae (GNMA) MBS | Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring    
Assets measured at fair value on a recurring basis:    
Fair Value 40,676 43,340
Ginnie Mae (GNMA) MBS | Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring    
Assets measured at fair value on a recurring basis:    
Fair Value 0 0
Government-sponsored enterprises (GSE) agency notes    
Assets measured at fair value on a recurring basis:    
Fair Value 177,937 180,696
Government-sponsored enterprises (GSE) agency notes | Fair Value, Measurements, Recurring    
Assets measured at fair value on a recurring basis:    
Fair Value 177,937 180,696
Government-sponsored enterprises (GSE) agency notes | Quoted Prices in Active Markets for Identical Asset (Level 1) | Fair Value, Measurements, Recurring    
Assets measured at fair value on a recurring basis:    
Fair Value 0 0
Government-sponsored enterprises (GSE) agency notes | Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring    
Assets measured at fair value on a recurring basis:    
Fair Value 177,937 180,696
Government-sponsored enterprises (GSE) agency notes | Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring    
Assets measured at fair value on a recurring basis:    
Fair Value $ 0 $ 0
v3.25.0.1
FAIR VALUE DISCLOSURES OF FINANCIAL ASSETS AND LIABILITIES - Narrative (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Commitments of lending operations $ 0 $ 0
Swap Guarantee    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Aggregate fair value of swaps to customers $ 5,500,000 $ 7,300,000
v3.25.0.1
FAIR VALUE DISCLOSURES OF FINANCIAL ASSETS AND LIABILITIES - Fair Value Measurement Inputs and Valuation Techniques (Details) - Significant Unobservable Inputs (Level 3)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
USD ($)
$ / shares
Dec. 31, 2023
USD ($)
$ / shares
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other investments | $ $ 15,516 $ 15,206
Other real estate owned | $ 5,204 1,569
Other assets | $ 25 78
Risk participation agreements sold    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other liabilities | $ 90 3
Financial derivative related to sales of certain Visa Class B shares    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other liabilities | $ $ 5,180 $ 14,023
Costs to sell    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other real estate owned, measurement input (as a percent) 0.100  
Costs to sell | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other real estate owned, measurement input (as a percent)   0.100
Costs to sell | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other real estate owned, measurement input (as a percent)   0.200
Costs to sell | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other real estate owned, measurement input (as a percent)   0.181
Measurement Input, CDS Spread | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other assets, measurement input (as a percent) 0.0110 0.0110
Other liabilities, measurement input (as a percent) 0.0001 0.0001
Measurement Input, CDS Spread | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other assets, measurement input (as a percent) 0.0360 0.0360
Other liabilities, measurement input (as a percent) 0.0250 0.0250
Measurement Input, CDS Spread | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other assets, measurement input (as a percent) 0.0192 0.0195
Other liabilities, measurement input (as a percent) 0.0207 0.0095
Measurement Input, Loss Given Default    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other liabilities, measurement input (as a percent) 0.30 0.30
Measurement Input, Loss Given Default | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other assets, measurement input (as a percent) 0 0
Measurement Input, Loss Given Default | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other assets, measurement input (as a percent) 0.30 0.30
Measurement Input, Loss Given Default | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other assets, measurement input (as a percent) 0.30 0.30
Timing of Visa litigation resolution | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other liabilities, measurement input, term (in years)   1 year
Timing of Visa litigation resolution | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other liabilities, measurement input, term (in years)   4 years 9 months
Timing of Visa litigation resolution | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other liabilities, measurement input, term (in years) 2 years 6 months 3 years 21 days
v3.25.0.1
FAIR VALUE DISCLOSURES OF FINANCIAL ASSETS AND LIABILITIES - Book Value and Estimated Fair Value of Financial Instruments (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Financial assets:    
Investment securities, available for sale $ 3,510,648 $ 3,846,537
Loans and leases, net 12,996,218 12,583,202
Stock in FHLB of Pittsburgh 11,805 15,398
Accrued interest receivable 84,671 85,979
Financial liabilities:    
Deposits 17,029,808 16,474,086
Accrued interest payable 38,173 46,684
Level 3    
Financial assets:    
Other investments 15,516 15,206
Other assets 25 78
Book Value | Level 1    
Financial assets:    
Cash, cash equivalents and restricted cash 1,154,818 1,092,900
Book Value | Level 2    
Financial assets:    
Investment securities, available for sale 3,510,648 3,846,537
Investment securities, held to maturity, net 1,015,161 1,058,557
Loans, held for sale 49,699 29,268
Stock in FHLB of Pittsburgh 11,805 15,398
Accrued interest receivable 84,671 85,979
Financial liabilities:    
Deposits 17,029,808 16,474,086
Borrowed funds 383,607 895,076
Accrued interest payable 38,173 46,684
Book Value | Level 3    
Financial assets:    
Other investments 18,184 17,434
Loans and leases, net 12,996,218 12,583,202
Financial liabilities:    
Standby letters of credit 776 814
Book Value | Levels 2, 3    
Financial assets:    
Other assets 170,489 153,647
Financial liabilities:    
Other liabilities 160,512 151,642
Fair Value | Level 1    
Financial assets:    
Cash, cash equivalents and restricted cash 1,154,818 1,092,900
Fair Value | Level 2    
Financial assets:    
Investment securities, available for sale 3,510,648 3,846,537
Investment securities, held to maturity, net 895,511 985,931
Loans, held for sale 49,699 29,268
Stock in FHLB of Pittsburgh 11,805 15,398
Accrued interest receivable 84,671 85,979
Financial liabilities:    
Deposits 17,016,839 16,449,198
Borrowed funds 379,154 912,760
Accrued interest payable 38,173 46,684
Fair Value | Level 3    
Financial assets:    
Other investments 18,184 17,434
Loans and leases, net 13,100,492 12,514,431
Financial liabilities:    
Standby letters of credit 776 814
Fair Value | Levels 2, 3    
Financial assets:    
Other assets 170,489 153,647
Financial liabilities:    
Other liabilities $ 160,512 $ 151,642
v3.25.0.1
DERIVATIVE FINANCIAL INSTRUMENTS - Fair Values of Derivative Instruments (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
instrument
Dec. 31, 2023
USD ($)
instrument
Derivatives, Fair Value [Line Items]    
Notional $ 7,802,391 $ 5,997,253
Total derivatives 9,977 2,005
Derivatives Designated as Hedging Instruments    
Derivatives, Fair Value [Line Items]    
Notional 1,500,000 750,000
Derivative asset $ 14,265 $ 15,578
Derivatives Designated as Hedging Instruments | Interest rate products    
Derivatives, Fair Value [Line Items]    
Number of derivative instruments | instrument 18 9
Notional $ 1,500,000  
Derivative asset 14,265 $ 15,578
Derivatives Designated as Hedging Instruments | Interest rate products | Other liabilities    
Derivatives, Fair Value [Line Items]    
Notional   750,000
Derivatives Not Designated as Hedging Instruments | Interest rate products    
Derivatives, Fair Value [Line Items]    
Derivative asset 153,980 136,924
Derivative liability (153,980) (136,924)
Derivatives Not Designated as Hedging Instruments | Interest rate products | Other assets    
Derivatives, Fair Value [Line Items]    
Notional 2,942,675 2,428,306
Derivatives Not Designated as Hedging Instruments | Interest rate products | Other liabilities    
Derivatives, Fair Value [Line Items]    
Notional 2,942,675 2,383,443
Derivatives Not Designated as Hedging Instruments | Interest rate lock commitments with clients    
Derivatives, Fair Value [Line Items]    
Derivative asset 612 637
Derivative liability (18)  
Derivatives Not Designated as Hedging Instruments | Interest rate lock commitments with clients | Other assets    
Derivatives, Fair Value [Line Items]    
Notional 41,238 34,651
Derivatives Not Designated as Hedging Instruments | Interest rate lock commitments with clients | Other liabilities    
Derivatives, Fair Value [Line Items]    
Notional 3,658  
Derivatives Not Designated as Hedging Instruments | Forward sale commitments    
Derivatives, Fair Value [Line Items]    
Derivative asset 200 1
Derivative liability (39) (283)
Derivatives Not Designated as Hedging Instruments | Forward sale commitments | Other assets    
Derivatives, Fair Value [Line Items]    
Notional 28,927 1,000
Derivatives Not Designated as Hedging Instruments | Forward sale commitments | Other liabilities    
Derivatives, Fair Value [Line Items]    
Notional 27,071 37,348
Derivatives Not Designated as Hedging Instruments | FX forwards    
Derivatives, Fair Value [Line Items]    
Derivative asset 1,407 429
Derivative liability (1,205) (409)
Derivatives Not Designated as Hedging Instruments | FX forwards | Other assets    
Derivatives, Fair Value [Line Items]    
Notional 26,716 15,812
Derivatives Not Designated as Hedging Instruments | FX forwards | Other liabilities    
Derivatives, Fair Value [Line Items]    
Notional 25,924 13,064
Derivatives Not Designated as Hedging Instruments | Risk participation agreements sold    
Derivatives, Fair Value [Line Items]    
Derivative liability (90) (3)
Derivatives Not Designated as Hedging Instruments | Risk participation agreements sold | Other liabilities    
Derivatives, Fair Value [Line Items]    
Notional 110,948 103,648
Derivatives Not Designated as Hedging Instruments | Risk participation agreements purchased    
Derivatives, Fair Value [Line Items]    
Derivative asset 25 78
Derivatives Not Designated as Hedging Instruments | Risk participation agreements purchased | Other assets    
Derivatives, Fair Value [Line Items]    
Notional 97,201 116,804
Derivatives Not Designated as Hedging Instruments | Financial derivative related to sales of certain Visa Class B shares    
Derivatives, Fair Value [Line Items]    
Derivative liability (5,180) (14,023)
Derivatives Not Designated as Hedging Instruments | Financial derivative related to sales of certain Visa Class B shares | Other liabilities    
Derivatives, Fair Value [Line Items]    
Notional $ 55,358 $ 113,177
v3.25.0.1
DERIVATIVE FINANCIAL INSTRUMENTS - Effect of Derivative Instruments on the Income Statement (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Derivative [Line Items]      
Amount of (Loss) Gain Recognized in OCI on Derivative (Effective Portion) $ (8,894) $ 1,596 $ 0
Derivatives Designated as Hedging Instruments      
Derivative [Line Items]      
Amount of (Loss) Gain Recognized in OCI on Derivative (Effective Portion) (8,894) 1,596 0
Derivatives Not Designated as Hedging Instruments      
Derivative [Line Items]      
Amount of Gain (Loss) Recognized in Income 10,014 10,758 10,252
Interest rate products | Derivatives Designated as Hedging Instruments      
Derivative [Line Items]      
Amount of (Loss) Gain Recognized in OCI on Derivative (Effective Portion) (8,894) 1,596 0
Interest rate products | Derivatives Not Designated as Hedging Instruments      
Derivative [Line Items]      
Amount of Gain (Loss) Recognized in Income 9,412 10,294 7,576
Interest rate lock commitments with clients | Derivatives Not Designated as Hedging Instruments      
Derivative [Line Items]      
Amount of Gain (Loss) Recognized in Income (34) 274 (2,072)
Forward sale commitments | Derivatives Not Designated as Hedging Instruments      
Derivative [Line Items]      
Amount of Gain (Loss) Recognized in Income 175 65 4,863
FX forwards | Derivatives Not Designated as Hedging Instruments      
Derivative [Line Items]      
Amount of Gain (Loss) Recognized in Income 524 130 80
Risk participation agreements | Derivatives Not Designated as Hedging Instruments      
Derivative [Line Items]      
Amount of Gain (Loss) Recognized in Income $ (63) $ (5) $ (195)
v3.25.0.1
DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
USD ($)
instrument
institution
Dec. 31, 2023
USD ($)
instrument
Derivative [Line Items]    
Notional amount $ 7,802,391 $ 5,997,253
Interest rate cash flow hedge expense reclassified to interest income $ 4,600 $ 1,200
Derivative transaction held for guarantee | instrument 154 188
Minimum    
Derivative [Line Items]    
Notional amount maturity period (in years) 1 year  
Maximum    
Derivative [Line Items]    
Notional amount maturity period (in years) 11 years  
Swap Guarantee    
Derivative [Line Items]    
Number of unrelated financial institutions | institution 1  
Aggregate fair value of swaps to customers $ 5,500 $ 7,300
Interest Rate Swap    
Derivative [Line Items]    
Notional amount $ 600,000 $ 700,000
Derivative transaction held for guarantee | instrument 0 0
Cash    
Derivative [Line Items]    
Collateral value against obligations $ 1,700  
Derivatives Designated as Hedging Instruments    
Derivative [Line Items]    
Notional amount $ 1,500,000 $ 750,000
Derivatives Designated as Hedging Instruments | Interest Rate Contract    
Derivative [Line Items]    
Number of derivative instruments | instrument 18 9
Purchase of derivatives $ 29,700  
Notional amount $ 1,500,000  
v3.25.0.1
RELATED PARTY TRANSACTIONS (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
USD ($)
loan
Dec. 31, 2023
USD ($)
loan
Related Party Transaction [Line Items]    
Other borrowed funds $ 23,102 $ 586,038
Related Party    
Related Party Transaction [Line Items]    
Total deposits from related parties 6,400 $ 9,700
Loans | Related Party    
Related Party Transaction [Line Items]    
Maximum loan capacity $ 500  
Number of loan transactions | loan 0 1
Other borrowed funds $ 400 $ 400
Loans | Related Party | Executive Officers    
Related Party Transaction [Line Items]    
Maximum loan capacity 500 $ 500
New Loans and Credit Line Advance to Related Parties | Related Party    
Related Party Transaction [Line Items]    
New loans and credit line advance to related parties 200  
Repayments $ 100  
v3.25.0.1
SEGMENT INFORMATION - Narrative (Details)
 12 Months Ended
Dec. 31, 2024
segment
Segment Reporting [Abstract]  
Number of segments 3
v3.25.0.1
SEGMENT INFORMATION - Details of Segment Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]      
Interest income $ 1,063,582 $ 976,522 $ 703,815
Interest expense 358,144 251,419 40,925
Net interest income 705,438 725,103 662,890
Noninterest income 340,920 289,871 260,134
Provision for (recovery of) credit losses 61,410 88,071 48,089
Salaries, benefits and other compensation 332,682 289,193 283,905
Occupancy expense 37,579 42,184 40,885
Equipment expense 47,744 42,242 40,994
Professional fees 20,164 21,200 18,497
Noninterest expenses 637,689 561,633 574,326
Income before taxes 347,259 365,270 300,609
Income tax provision 83,764 96,245 77,961
Consolidated net income 263,495 269,025 222,648
Net (loss) income attributable to noncontrolling interest (176) (131) 273
Net income attributable to WSFS 263,671 269,156 222,375
Operating Segments      
Segment Reporting Information [Line Items]      
Total revenue 1,083,238 1,046,671 952,822
Total expenses 735,979 681,401 652,213
Income before taxes 347,259 365,270 300,609
Income tax provision 83,764 96,245 77,961
Consolidated net income 263,495 269,025 222,648
Net (loss) income attributable to noncontrolling interest (176) (131) 273
Net income attributable to WSFS 263,671 269,156 222,375
Capital expenditures for the period ended 14,258 6,406 8,809
Operating Segments | External Customers      
Segment Reporting Information [Line Items]      
Interest income 1,063,582 976,522 703,815
Interest expense 358,144 251,419 40,925
Net interest income 705,438 725,103 662,890
Noninterest income 340,920 289,871 260,134
Total revenue 1,046,358 1,014,974 923,024
Provision for (recovery of) credit losses 61,410 88,071 48,089
Salaries, benefits and other compensation 332,682 289,193 283,905
Occupancy expense 37,579 42,184 40,885
Equipment expense 47,744 42,242 40,994
Professional fees 20,164 19,054 20,876
Other segment items 199,520 168,960 187,666
Total expenses 699,099 649,704 622,415
Inter-Segment Eliminations      
Segment Reporting Information [Line Items]      
Interest income 145,806 128,481 62,423
Interest expense 145,806 128,481 62,423
Net interest income 0 0 0
Noninterest income 36,880 31,697 29,798
Total revenue 36,880 31,697 29,798
Total expenses 36,880 31,697 29,798
Noninterest expenses 36,880 31,697 29,798
WSFS Bank | Operating Segments      
Segment Reporting Information [Line Items]      
Total revenue 750,156 765,410 726,994
Total expenses 522,497 515,730 516,184
Income before taxes 227,659 249,680 210,810
Capital expenditures for the period ended 12,305 6,335 8,793
WSFS Bank | Operating Segments | External Customers      
Segment Reporting Information [Line Items]      
Interest income 1,040,192 955,050 690,780
Interest expense 318,484 221,713 37,393
Net interest income 721,708 733,337 653,387
Noninterest income 78,249 74,951 79,800
Total revenue 799,957 808,288 733,187
Provision for (recovery of) credit losses 60,710 87,529 47,921
Salaries, benefits and other compensation 264,281 229,740 226,354
Occupancy expense 36,486 40,694 39,362
Equipment expense 38,607 35,657 37,280
Professional fees 15,286 11,418 15,485
Other segment items 104,180 108,194 147,518
Total expenses 519,550 513,232 513,920
WSFS Bank | Inter-Segment Eliminations      
Segment Reporting Information [Line Items]      
Interest income 31,036 28,202 14,348
Interest expense 114,770 100,279 48,075
Net interest income (83,734) (72,077) (33,727)
Noninterest income 33,933 29,199 27,534
Total revenue (49,801) (42,878) (6,193)
Total expenses 2,947 2,498 2,264
Noninterest expenses 2,947 2,498 2,264
Cash Connect | Operating Segments      
Segment Reporting Information [Line Items]      
Total revenue 101,170 69,434 48,834
Total expenses 100,171 65,199 41,497
Income before taxes 999 4,235 7,337
Capital expenditures for the period ended 204 0 16
Cash Connect | Operating Segments | External Customers      
Segment Reporting Information [Line Items]      
Interest income 0 0 0
Interest expense 0 0 0
Net interest income 0 0 0
Noninterest income 114,539 82,468 55,519
Total revenue 114,539 82,468 55,519
Provision for (recovery of) credit losses 0 0 0
Salaries, benefits and other compensation 10,209 9,395 8,113
Occupancy expense 28 296 299
Equipment expense 0 0 0
Professional fees 0 0 0
Other segment items 83,641 49,794 28,365
Total expenses 93,878 59,485 36,777
Cash Connect | Inter-Segment Eliminations      
Segment Reporting Information [Line Items]      
Interest income 1,441 1,384 1,536
Interest expense 16,645 16,348 9,831
Net interest income (15,204) (14,964) (8,295)
Noninterest income 1,835 1,930 1,610
Total revenue (13,369) (13,034) (6,685)
Total expenses 6,293 5,714 4,720
Noninterest expenses 6,293 5,714 4,720
Wealth Management | Operating Segments      
Segment Reporting Information [Line Items]      
Total revenue 231,912 211,827 176,994
Total expenses 113,311 100,472 94,532
Income before taxes 118,601 111,355 82,462
Capital expenditures for the period ended 1,749 71 0
Wealth Management | Operating Segments | External Customers      
Segment Reporting Information [Line Items]      
Interest income 23,390 21,472 13,035
Interest expense 39,660 29,706 3,532
Net interest income (16,270) (8,234) 9,503
Noninterest income 148,132 132,452 124,815
Total revenue 131,862 124,218 134,318
Provision for (recovery of) credit losses 700 542 168
Salaries, benefits and other compensation 58,192 50,058 49,438
Occupancy expense 1,065 1,194 1,224
Equipment expense 9,137 6,585 3,714
Professional fees 4,878 7,636 5,391
Other segment items 11,699 10,972 11,783
Total expenses 85,671 76,987 71,718
Wealth Management | Inter-Segment Eliminations      
Segment Reporting Information [Line Items]      
Interest income 113,329 98,895 46,539
Interest expense 14,391 11,854 4,517
Net interest income 98,938 87,041 42,022
Noninterest income 1,112 568 654
Total revenue 100,050 87,609 42,676
Total expenses 27,640 23,485 22,814
Noninterest expenses $ 27,640 $ 23,485 $ 22,814
v3.25.0.1
SEGMENT INFORMATION - Net Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]      
Cash and cash equivalents $ 1,154,818 $ 1,092,900  
Goodwill 885,898 885,898 $ 883,637
Other segment assets 18,773,587 18,615,874  
Total assets 20,814,303 20,594,672  
WSFS Bank      
Segment Reporting Information [Line Items]      
Cash and cash equivalents 686,735 600,483  
Goodwill 753,586 753,586 $ 753,586
Other segment assets 18,292,205 18,191,585  
Total assets 19,732,526 19,545,654  
Cash Connect      
Segment Reporting Information [Line Items]      
Cash and cash equivalents 424,907 443,431  
Goodwill 0 0  
Other segment assets 12,536 15,654  
Total assets 437,443 459,085  
Wealth Management      
Segment Reporting Information [Line Items]      
Cash and cash equivalents 43,176 48,986  
Goodwill 132,312 132,312  
Other segment assets 468,846 408,635  
Total assets $ 644,334 $ 589,933  
v3.25.0.1
PARENT COMPANY FINANCIAL INFORMATION - Condensed Statements of Income (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income:      
Realized gain on sale of equity investment $ 2,309 $ 9,493 $ 0
Other noninterest income 340,920 289,871 260,134
Expense:      
Interest expense 358,144 251,419 40,925
Other operating expense (1,063,582) (976,522) (703,815)
Net expenses (705,438) (725,103) (662,890)
Income tax (benefit) expense 83,764 96,245 77,961
Net income attributable to WSFS 263,671 269,156 222,375
WSFS Financial Corporation      
Income:      
Interest income 1,252 817 374
Realized gain on sale of equity investment 2,105 9,493 0
Unrealized gains on equity investments, net 0 2,489 5,379
Other noninterest income 219,063 98,067 251,382
Total revenue 222,420 110,866 257,135
Expense:      
Interest expense 16,661 16,610 11,763
Other operating expense 7,651 6,965 11,489
Net expenses 24,312 23,575 23,252
Income before equity in undistributed income of subsidiaries 198,108 87,291 233,883
Equity in undistributed income (loss) of subsidiaries 64,429 182,396 (12,672)
Income before taxes 262,537 269,687 221,211
Income tax (benefit) expense (1,134) 531 (1,164)
Net income attributable to WSFS $ 263,671 $ 269,156 $ 222,375
v3.25.0.1
PARENT COMPANY FINANCIAL INFORMATION - Condensed Statements of Financial Condition (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Assets:        
Cash and cash equivalents $ 1,154,818 $ 1,092,900    
Other assets 857,142 712,022    
Total assets 20,814,303 20,594,672    
Liabilities:        
Trust preferred borrowings 90,834 90,638    
Senior and subordinated debt 218,631 218,400    
Accrued interest payable 38,173 46,684    
Other liabilities 783,339 709,011    
Total liabilities 18,234,927 18,124,857    
Stockholders’ equity:        
Common stock 763 761    
Capital in excess of par value 1,996,191 1,984,746    
Accumulated other comprehensive loss (624,877) (593,991)    
Retained earnings 1,871,523 1,643,657    
Treasury stock (653,848) (557,537)    
Total stockholders’ equity 2,579,376 2,469,815 $ 2,201,886 $ 1,937,016
Total liabilities and stockholders’ equity 20,814,303 20,594,672    
WSFS Financial Corporation        
Assets:        
Cash and cash equivalents 275,431 197,270    
Investment in subsidiaries 2,620,282 2,585,151    
Investment in Trusts 2,785 2,785    
Other assets 3,943 5,869    
Total assets 2,902,441 2,791,075    
Liabilities:        
Trust preferred borrowings 90,834 90,638    
Senior and subordinated debt 218,631 218,400    
Accrued interest payable 822 949    
Other liabilities 2,402 3,452    
Total liabilities 312,689 313,439    
Stockholders’ equity:        
Common stock 763 761    
Capital in excess of par value 1,996,191 1,984,746    
Accumulated other comprehensive loss (624,877) (593,991)    
Retained earnings 1,871,523 1,643,657    
Treasury stock (653,848) (557,537)    
Total stockholders’ equity 2,589,752 2,477,636    
Total liabilities and stockholders’ equity $ 2,902,441 $ 2,791,075    
v3.25.0.1
PARENT COMPANY FINANCIAL INFORMATION - Condensed Statements of Cash Flows (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities:      
Net income attributable to WSFS $ 263,671 $ 269,156 $ 222,375
Adjustments to reconcile net income to net cash provided by operating activities:      
Unrealized gains on equity investments 0 (329) (5,980)
Decrease in other assets (106,041) (2,185) (58,852)
(Decrease) increase in other liabilities 85,291 (60,781) 315,065
Net cash provided by operating activities 219,899 237,003 480,854
Investing activities:      
Net cash for business combinations 0 (3,000) 573,745
Net cash used in investing activities (66,732) (326,261) (137,367)
Financing activities:      
Issuance of common stock and exercise of common stock options 466 3,298 3,179
Purchase of treasury stock (96,311) (54,647) (200,083)
Dividends paid (35,805) (36,742) (35,746)
Net cash (used in) provided by financing activities (91,249) 344,900 (1,039,168)
Increase (decrease) in cash, cash equivalents, and restricted cash 61,918 255,642 (695,681)
Cash, cash equivalents, and restricted cash at beginning of period 1,092,900 837,258 1,532,939
Cash, cash equivalents, and restricted cash at end of period 1,154,818 1,092,900 837,258
WSFS Financial Corporation      
Operating activities:      
Net income attributable to WSFS 263,671 269,156 222,375
Adjustments to reconcile net income to net cash provided by operating activities:      
Equity in undistributed (income) loss of subsidiaries (64,429) (182,396) 12,672
Realized gain on sale of equity investments (2,105) (9,493) 0
Unrealized gains on equity investments 0 (2,489) (5,379)
Decrease in other assets 15,932 31,254 2,569
(Decrease) increase in other liabilities (747) 3,488 812
Net cash provided by operating activities 212,322 109,520 233,049
Investing activities:      
Payments for investment in and advances to subsidiaries (2,511) 0 0
Net cash for business combinations 0 0 101,734
Net cash used in investing activities (2,511) 0 101,734
Financing activities:      
Issuance of common stock and exercise of common stock options 466 3,298 3,179
Redemption of senior and subordinated debt 0 (30,000) 0
Purchase of treasury stock (96,311) (54,647) (200,083)
Dividends paid (35,805) (36,742) (35,746)
Net cash (used in) provided by financing activities (131,650) (118,091) (232,650)
Increase (decrease) in cash, cash equivalents, and restricted cash 78,161 (8,571) 102,133
Cash, cash equivalents, and restricted cash at beginning of period 197,270 205,841 103,708
Cash, cash equivalents, and restricted cash at end of period $ 275,431 $ 197,270 $ 205,841
v3.25.0.1
CHANGE IN ACCUMULATED OTHER COMPREHENSIVE LOSS - Components of Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Thousands
 1 Months Ended 12 Months Ended
Jun. 30, 2022
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Roll Forward]        
Beginning balance   $ 2,477,636    
Other comprehensive income (loss) before reclassifications   (45,812) $ 65,244 $ (648,898)
Less: Amounts reclassified from accumulated other comprehensive income (loss)   14,926 16,609 10,822
Total other comprehensive (loss) income   (30,886) 81,853 (638,076)
Ending balance   2,589,752 2,477,636  
Amortization of unrealized gain on securities reclassified to held-to-maturity, tax expense   (4,774) (5,361) (34,319)
Fannie Mae (FNMA) mortgage-backed securities (MBS)        
Accumulated Other Comprehensive Income (Loss) [Roll Forward]        
Amortization of unrealized gain on securities reclassified to held-to-maturity, tax expense $ 119,800      
Total        
Accumulated Other Comprehensive Income (Loss) [Roll Forward]        
Beginning balance   (593,991) (675,844) (37,768)
Total other comprehensive (loss) income   (30,886) 81,853 (638,076)
Ending balance   (624,877) (593,991) (675,844)
Net change in investment securities available for sale        
Accumulated Other Comprehensive Income (Loss) [Roll Forward]        
Beginning balance   (499,932) (563,533) (33,873)
Other comprehensive income (loss) before reclassifications   (37,857) 63,601 (529,660)
Less: Amounts reclassified from accumulated other comprehensive income (loss)   0 0 0
Total other comprehensive (loss) income   (37,857) 63,601 (529,660)
Ending balance   (537,789) (499,932) (563,533)
Net change in investment securities held to maturity        
Accumulated Other Comprehensive Income (Loss) [Roll Forward]        
Beginning balance   (91,523) (108,503) 175
Other comprehensive income (loss) before reclassifications   0 0 (119,769)
Less: Amounts reclassified from accumulated other comprehensive income (loss)   15,118 16,980 11,091
Total other comprehensive (loss) income   15,118 16,980 (108,678)
Ending balance   (76,405) (91,523) (108,503)
Net change in defined benefit plan        
Accumulated Other Comprehensive Income (Loss) [Roll Forward]        
Beginning balance   (4,614) (4,482) (4,691)
Other comprehensive income (loss) before reclassifications   991 132 318
Less: Amounts reclassified from accumulated other comprehensive income (loss)   (192) (264) (109)
Total other comprehensive (loss) income   799 (132) 209
Ending balance   (3,815) (4,614) (4,482)
Net change in fair value of derivatives used for cash flow hedges        
Accumulated Other Comprehensive Income (Loss) [Roll Forward]        
Beginning balance   1,597 108 268
Other comprehensive income (loss) before reclassifications   (8,894) 1,596 0
Less: Amounts reclassified from accumulated other comprehensive income (loss)   0 (107) (160)
Total other comprehensive (loss) income   (8,894) 1,489 (160)
Ending balance   (7,297) 1,597 108
Net change in equity method investments        
Accumulated Other Comprehensive Income (Loss) [Roll Forward]        
Beginning balance   481 566 353
Other comprehensive income (loss) before reclassifications   (52) (85) 213
Less: Amounts reclassified from accumulated other comprehensive income (loss)   0 0 0
Total other comprehensive (loss) income   (52) (85) 213
Ending balance   $ 429 $ 481 $ 566
v3.25.0.1
CHANGE IN ACCUMULATED OTHER COMPREHENSIVE LOSS - Components of Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Income taxes $ (83,764) $ (96,245) $ (77,961)
Income before taxes 347,259 365,270 300,609
Reclassification out of Accumulated Other Comprehensive Income (Loss)      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Net income attributable to WSFS 14,926 16,609 10,822
Reclassification out of Accumulated Other Comprehensive Income (Loss) | Accumulated Defined Benefit Plans Adjustment, Net Prior Service Attributable to Parent      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Prior service credits (76) (76) (76)
Reclassification out of Accumulated Other Comprehensive Income (Loss) | Amortization of defined benefit pension plan-related items:      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Income taxes 60 83 35
Actuarial gains (176) (271) (68)
Income before taxes (252) (347) (144)
Net income attributable to WSFS (192) (264) (109)
Reclassification out of Accumulated Other Comprehensive Income (Loss) | Net unrealized gains on terminated cash flow hedges:      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Amortization of net unrealized losses to income during the period 0 (141) (211)
Income taxes 0 34 51
Net income attributable to WSFS 0 (107) (160)
Reclassification out of Accumulated Other Comprehensive Income (Loss) | Net unrealized holding losses on securities transferred between available-for-sale and held-to-maturity: | Net change in investment securities available for sale      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Amortization of net unrealized losses to income during the period 19,892 22,343 14,593
Income taxes (4,774) (5,363) (3,502)
Net income attributable to WSFS $ 15,118 $ 16,980 $ 11,091
v3.25.0.1
LEGAL AND OTHER PROCEEDINGS (Details) - USD ($)
 12 Months Ended
Jun. 06, 2023
Nov. 16, 2022
Oct. 03, 2022
Dec. 31, 2024
Jan. 03, 2025
Loss Contingencies [Line Items]          
Estimated liability       $ 1,000,000  
Loss contingency value $ 15,000,000        
Additions to other significant pending legal or other proceedings       $ 0  
Maximum | Subsequent Event          
Loss Contingencies [Line Items]          
Loss contingency, estimate of possible loss         $ 15,000,000
Minimum | Subsequent Event          
Loss Contingencies [Line Items]          
Loss contingency, estimate of possible loss         $ 0.0
WSFS Bank | Maximum          
Loss Contingencies [Line Items]          
Claim seeks damages in an amount   $ 40,000,000 $ 25,000    
v3.25.0.1
SUBSEQUENT EVENTS (Details) - Senior Notes 2027 - Subsequent Event - USD ($)
$ in Millions
 3 Months Ended
Jan. 30, 2025
Mar. 31, 2025
Subsequent Event [Line Items]    
Repayments of subordinated debt $ 70.0  
Redemption price (as a percent)   100.00%