WSFS Financial Corp.
0.0 %
24.83 %
Yet to be announced
Company Overview
WSFS Financial Corporation operates as the savings and loan holding company for Wilmington Savings Fund Society, FSB. WSFS Bank, Cash Connect, and Wealth Management provides various deposit products. The company also provides loans, which comprise fixed and adjustable rate residential loans. As of December 31, 2020, it operated 112 offices, including 52 in Pennsylvania, 42 in Delaware, 16 in New Jersey, 1 in Virginia, and 1 in Nevada.
Revenue Sources
Based on the financial data provided, the company's primary source of revenue comes from banking and financial services, which includes interest-based lending and borrowing. These activities are considered haram as they involve riba (interest).
Reliance on Interest
| Reporting Date | Total Revenue | Total Expense | Interest Income | Interest Expense | Interest Income Ratio | Interest Expense Ratio |
|---|---|---|---|---|---|---|
| Sept. 30, 2024 | $267.66m | $95.88m | $177.5m | $95.88m | 66.32% | 100.00% |
| June 30, 2024 | $266.05m | $90.79m | $174.45m | $90.79m | 65.57% | 100.00% |
| March 31, 2024 | $251.13m | $86.34m | $175.28m | $86.34m | 69.79% | 100.00% |
| Dec. 31, 2023 | $265.33m | $79.1m | $178.13m | $79.1m | 67.13% | 100.00% |
Looking at the last four quarters of financial data, interest income and interest expense make up a substantial portion of the company's revenue and expenses. Interest income represents between 66% to 70% of total revenue across all quarters examined. Interest expense represents between 30% to 36% of total expenses. These percentages indicate that interest plays a material role in the company's business model.
Operational Ethics
Based on available information from SEC filings and company materials, there is no evidence of significant ongoing associations with entities involved in human rights violations such as the state of Israel or the Chinese Communist Party.
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