WSFS Financial Corp. reported unaudited earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported interest income of $66.556 million against $59.692 million a year ago. Net interest income was $57.725 million against $52.954 million a year ago. The year-over-year increase reflects an estimated 9 bps resulting from the higher short-term interest rate environment, 6 bps related to the redemption of $55.0 million of senior notes in late third quarter of 2017, an estimated 6 bps from favorable balance sheet growth and mix, and 3 bps from the payoff of a loan previously placed on nonaccrual status. Income before taxes was $30.032 million against $27.180 million a year ago. Net loss was $0.525 million or $0.02 per diluted share against net income of $18.110 million or $0.56 per diluted share a year ago. Return on average assets - Negative was 0.03% against positive of 1.08% a year ago. Return on average equity - Negative was 0.28% against positive of 10.37% a year ago. Return on average tangible common equity - Negative was 0.05% against positive of 14.82% a year ago. Book value per share of common stock was $23.35 against $21.90 a year ago. Tangible common book value per share of common stock was $17.35 against $15.80 a year ago. Non-GAAP core net interest income was $57.725 million against $52.954 million a year ago. Non-GAAP core net revenue was $89.940 million against $80.774 million a year ago. Non-GAAP net income was $22.907 million against $18.842 million a year ago. Non-GAAP core ROA was 1.31% against 1.12% a year ago. Non-GAAP core EPS was $0.71 against $0.58 a year ago. Return on average tangible common equity (non-GAAP) - Negative was 0.05% against positive of 14.82% a year ago.

For the year, the company reported interest income of $254.726 million against $216.578 million a year ago. Net interest income was $221.271 million against $193.745 million a year ago. Income before taxes was $120.490 million against $97.154 million a year ago. Net income was $59.551 million or $1.84 per diluted share against $64.080 million or $2.06 per diluted share a year ago. Return on average assets was 0.87% against 1.06% a year ago. Return on average equity was 8.21% against 10.03% a year ago. Return on tangible common equity was 11.48% against 12.85% a year ago. Non-GAAP core net interest income was $221.271 million against $193.745 million a year ago. Non-GAAP core net revenue was $343.931 million against $296.437 million a year ago. Non-GAAP net income was $82.841 million against $68.403 million a year ago. Non-GAAP core ROA was 1.21% against 1.13% a year ago. Non-GAAP core EPS was $2.56 against $2.19 a year ago. Return on average tangible common equity (non-GAAP) was 11.48% against 12.85% a year ago.

For the quarter, the company's net charge-offs were $3.7 million or 0.31% (annualized), a decrease from $4.4 million, or 0.40% (annualized), during fourth quarter of 2016.