WILMINGTON, DE — Kroll Bond Rating Agency reaffirmed its investment-grade ratings on WSFS Financial Corp. (Nasdaq: WSFS) and its banking subsidiary, maintaining the company’s credit profile as WSFS operates with $22.7 billion in assets and more than $100 billion under management and administration.
KBRA reaffirmed WSFS Financial’s senior unsecured debt rating at A-, subordinated debt rating at BBB+ and short-term debt rating at K2.
WSFS Bank, the company’s primary subsidiary, retained A ratings on senior unsecured debt and deposits. KBRA also reaffirmed the bank’s A- subordinated debt rating and K1 short-term debt and deposit ratings.
The ratings leave WSFS with investment-grade assessments across its senior debt and bank deposits, supporting the credit standing of one of the largest locally headquartered financial institutions in the Greater Philadelphia and Delaware region.
As of June 30, WSFS Financial reported $22.7 billion in balance-sheet assets and $101.7 billion in assets under management and administration.
The company operates 114 offices, including 87 banking locations, across six states. Pennsylvania accounts for 58 offices, followed by Delaware with 38 and New Jersey with 14, while the company also maintains locations in Florida, Nevada and Virginia.
WSFS provides commercial and consumer banking, treasury management, mortgage, trust and wealth-management services. Its other businesses include Bryn Mawr Trust, Cash Connect, NewLane Finance, WSFS Wealth Management and WSFS Institutional Services.
WSFS Bank traces its operations to 1832 and remains one of the oldest U.S. banks continuously operating under the same name.
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