WSFS Financial Corporation provided earnings guidance for the fourth quarter ended December 31, 2017. For the fourth quarter, the enactment of H.R. 1 results in significant changes to the U.S. tax code, including a reduction in the top corporate income tax rate from 35% to 21%, effective January 1, 2018. The company estimates the revaluation of its DTA will result in an incremental income tax charge of approximately $12 million to $13 million in the fourth quarter of 2017. The company anticipates a negative earnings per share (EPS) impact of approximately $0.37 – $0.40 resulting from this income tax charge. The company expects to recover this charge through lower taxes by the end of the third quarter in 2018. The actions outlined in this announcement are expected to reduce reported after-tax income by $22.8 million to $23.8 million in the fourth quarter of 2017, or $0.71 to $0.74 in EPS. The company’ decision to surrender the policies will result in an incremental income tax charge of approximately $8 million in the fourth quarter of 2017.