15. SEGMENT INFORMATION As defined in ASC 280, Segment Reporting (ASC 280), an operating segment is a component of an enterprise that engages in business activities from which it may earn revenues and incur expenses, whose operating results are regularly reviewed by the enterprises chief operating decision makers to make decisions about resources to be allocated to the segment and assess its performance, and for which discrete financial information is available. The Company evaluates performance based on pretax net income relative to resources used, and allocate resources based on these results. The accounting policies applicable to the Company's segments are those that apply to its preparation of the accompanying unaudited Consolidated Financial Statements. Based on these criteria, the Company has identified three segments: WSFS Bank, Cash Connect  , and Wealth Management. The WSFS Bank segment provides financial products to commercial and retail customers. Retail and Commercial Banking, Commercial Real Estate Lending and other banking business units are operating departments of WSFS Bank. These departments share the same regulator, the same market, many of the same customers and provide similar products and services through the general infrastructure of the Bank. Accordingly, these departments are not considered discrete segments and are appropriately aggregated in the WSFS Bank segment in accordance with ASC 280. The Company's Cash Connect  segment provides ATM vault cash, smart safe and other cash logistics services through strategic partnerships with several of the largest networks, manufacturers and service providers in the ATM industry. Cash Connect  services non-bank and WSFS-branded ATMs and retail safes nationwide. The balance sheet category Cash in non-owned ATMs includes cash from which fee income is earned through bailment arrangements with customers of Cash Connect  . The Wealth Management segment provides a broad array of planning and advisory services, investment management, trust services, and credit and deposit products to individual, corporate, and institutional clients through multiple integrated businesses. WSFS Wealth Investments provides financial advisory services along with insurance and brokerage products. Cypress, a registered investment adviser, is a fee-only wealth management firm managing a balanced investment style portfolio focused on preservation of capital and generating current income. West Capital, a registered investment adviser, is a fee-only wealth management firm operating under a multi-family office philosophy to provide customized solutions to institutions and high-net-worth individuals. The institutional trust division of WSFS, WSFS Institutional Services, provides trustee, agency, bankruptcy administration, custodial and commercial domicile services to institutional and corporate clients. Christiana Trust DE, a subsidiary of WSFS, provides personal trust and fiduciary services to families and individuals across the U.S. Powdermill is a multi-family office specializing in providing independent solutions to high-net-worth individuals, families and corporate executives through a coordinated, centralized approach. WSFS Wealth Client Management serves high-net-worth clients by delivering credit and deposit products and partnering with other Wealth Management units to provide comprehensive solutions to clients. The following tables show segment results for the three and six months ended June 30, 2020 and 2019: Three Months Ended June 30, 2020 Three Months Ended June 30, 2019 (Dollars in thousands) WSFS Bank Cash Connect  Wealth Management Total WSFS Bank Cash Connect  Wealth Management Total Statements of Income External customer revenues: Interest income $ 123,710 $  $ 2,173 $ 125,883 $ 140,231 $  $ 2,672 $ 142,903 Noninterest income 44,304 9,008 11,063 64,375 18,870 13,355 10,646 42,871 Total external customer revenues 168,014 9,008 13,236 190,258 159,101 13,355 13,318 185,774 Inter-segment revenues: Interest income 937 237 2,442 3,616 3,345  4,052 7,397 Noninterest income 3,542 188 347 4,077 2,156 192 211 2,559 Total inter-segment revenues 4,479 425 2,789 7,693 5,501 192 4,263 9,956 Total revenue 172,493 9,433 16,025 197,951 164,602 13,547 17,581 195,730 External customer expenses: Interest expense 11,659  468 12,127 18,282  1,389 19,671 Noninterest expenses 79,789 6,413 7,233 93,435 91,415 8,893 7,540 107,848 Provision for credit losses 93,819  935 94,754 12,239  (44) 12,195 Total external customer expenses 185,267 6,413 8,636 200,316 121,936 8,893 8,885 139,714 Inter-segment expenses: Interest expense 2,679 131 806 3,616 4,052 2,203 1,142 7,397 Noninterest expenses 535 899 2,643 4,077 403 698 1,458 2,559 Total inter-segment expenses 3,214 1,030 3,449 7,693 4,455 2,901 2,600 9,956 Total expenses 188,481 7,443 12,085 208,009 126,391 11,794 11,485 149,670 (Loss) income before taxes $ (15,988) $ 1,990 $ 3,940 $ (10,058) $ 38,211 $ 1,753 $ 6,096 $ 46,060 Income tax (benefit) provision (2,247) 10,091 Consolidated net (loss) income (7,811) 35,969 Net loss attributable to noncontrolling interest (700) (231) Net (loss) income attributable to WSFS (7,111) 36,200 Six Months Ended June 30, 2020 Six Months Ended June 30, 2019 (Dollars in thousands) WSFS Bank Cash Connect  Wealth Management Total WSFS Bank Cash Connect  Wealth Management Total Statements of Income External customer revenues: Interest income $ 255,019 $  $ 4,719 $ 259,738 $ 237,177 $  $ 5,303 $ 242,480 Noninterest income 62,376 20,687 22,159 105,222 36,134 25,757 22,102 83,993 Total external customer revenues 317,395 20,687 26,878 364,960 273,311 25,757 27,405 326,473 Inter-segment revenues: Interest income 2,880 237 5,291 8,408 7,137  8,057 15,194 Noninterest income 6,449 417 520 7,386 4,039 369 397 4,805 Total inter-segment revenues 9,329 654 5,811 15,794 11,176 369 8,454 19,999 Total revenue 326,724 21,341 32,689 380,754 284,487 26,126 35,859 346,472 External customer expenses: Interest expense 28,406  1,426 29,832 33,418  2,516 35,934 Noninterest expenses 152,874 14,636 14,421 181,931 173,992 16,923 14,525 205,440 Provision for credit losses 148,853  2,547 151,400 19,525  324 19,849 Total external customer expenses 330,133 14,636 18,394 363,163 226,935 16,923 17,365 261,223 Inter-segment expenses: Interest expense 5,528 1,085 1,795 8,408 8,057 4,761 2,376 15,194 Noninterest expenses 937 1,640 4,809 7,386 766 1,243 2,796 4,805 Total inter-segment expenses 6,465 2,725 6,604 15,794 8,823 6,004 5,172 19,999 Total expenses 336,598 17,361 24,998 378,957 235,758 22,927 22,537 281,222 (Loss) income before taxes $ (9,874) $ 3,980 $ 7,691 $ 1,797 $ 48,729 $ 3,199 $ 13,322 $ 65,250 Income (benefit) tax provision (959) 16,351 Consolidated net income 2,756 48,899 Net loss attributable to noncontrolling interest (1,060) (324) Net income attributable to WSFS 3,816 49,223 The following table shows significant components of segment net assets as of June 30, 2020 and December 31, 2019: June 30, 2020 December 31, 2019 (Dollars in thousands) WSFS Bank Cash Connect  Wealth Management Total WSFS Bank Cash Connect  Wealth Management Total Statements of Financial Condition Cash and cash equivalents $ 591,518 $ 356,785 $ 7,464 $ 955,767 $ 202,792 $ 357,494 $ 11,466 $ 571,752 Goodwill 452,629  20,199 472,828 452,629  20,199 472,828 Other segment assets 11,914,250 5,171 225,341 12,144,762 10,982,681 6,555 222,486 11,211,722 Total segment assets $ 12,958,397 $ 361,956 $ 253,004 $ 13,573,357 $ 11,638,102 $ 364,049 $ 254,151 $ 12,256,302 Capital expenditures for the period ended $ 2,437 $ 256 $ 137 $ 2,830 $ 11,806 $ 2,120 $ 272 $ 14,198