WSFS sells most remaining Upstart consumer loans; expects $4.8 million Q2 provision release
WSFS Financial said it completed the sale of most of its remaining unsecured consumer loans from its Upstart Holdings partnership, which had a $98.1 million book balance as of May 31, 2025. The company expects a net charge-off of about $4.3 million against $9.1 million of prior reserves, producing a provision release of about $4.8 million in the second quarter of 2025, and says ongoing effects will be immaterial.
Key points
- Loans sold had an outstanding book balance of $98.1 million as of May 31, 2025
- Expected second quarter 2025 net charge-off of about $4.3 million against previous reserves of $9.1 million
- Expected resulting provision release of about $4.8 million, specific to these transactions
- Company says ongoing impacts will be immaterial; actual amounts could differ until second quarter results are finalized
The filing
Written by AI on Nov 8, 2026, 1:01 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 08, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.