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 nine months ended September 30, 2020 and 2019: Three Months Ended September 30, 2020 Three Months Ended September 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 $ 121,179 $  $ 2,191 $ 123,370 $ 138,585 $  $ 2,677 $ 141,262 Noninterest income 25,601 10,157 13,413 49,171 38,563 13,067 10,716 62,346 Total external customer revenues 146,780 10,157 15,604 172,541 177,148 13,067 13,393 203,608 Inter-segment revenues: Interest income 965 244 2,477 3,686 2,855  5,592 8,447 Noninterest income 3,359 199 497 4,055 2,483 257 320 3,060 Total inter-segment revenues 4,324 443 2,974 7,741 5,338 257 5,912 11,507 Total revenue 151,104 10,600 18,578 180,282 182,486 13,324 19,305 215,115 External customer expenses: Interest expense 9,994  328 10,322 19,056  1,373 20,429 Noninterest expenses 79,469 6,537 7,534 93,540 93,146 9,132 7,283 109,561 Provision for credit losses 1,324  1,392 2,716 3,954  167 4,121 Total external customer expenses 90,787 6,537 9,254 106,578 116,156 9,132 8,823 134,111 Inter-segment expenses: Interest expense 2,721 172 793 3,686 5,592 1,730 1,125 8,447 Noninterest expenses 696 798 2,561 4,055 577 680 1,803 3,060 Total inter-segment expenses 3,417 970 3,354 7,741 6,169 2,410 2,928 11,507 Total expenses 94,204 7,507 12,608 114,319 122,325 11,542 11,751 145,618 Income before taxes $ 56,900 $ 3,093 $ 5,970 $ 65,963 $ 60,161 $ 1,782 $ 7,554 $ 69,497 Income tax provision 15,140 15,902 Consolidated net income 50,823 53,595 Net loss attributable to noncontrolling interest (322) (287) Net income attributable to WSFS 51,145 53,882 Supplemental Information Capital expenditures for the period ended $ 640 $  $ 10 $ 650 $ 3,920 $ 1,340 $  $ 5,260 Nine Months Ended September 30, 2020 Nine Months Ended September 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 $ 376,198 $  $ 6,910 $ 383,108 $ 375,762 $  $ 7,980 $ 383,742 Noninterest income 87,977 30,844 35,572 154,393 74,697 38,824 32,818 146,339 Total external customer revenues 464,175 30,844 42,482 537,501 450,459 38,824 40,798 530,081 Inter-segment revenues: Interest income 3,845 481 7,768 12,094 9,992  13,649 23,641 Noninterest income 9,808 616 1,017 11,441 6,522 626 717 7,865 Total inter-segment revenues 13,653 1,097 8,785 23,535 16,514 626 14,366 31,506 Total revenue 477,828 31,941 51,267 561,036 466,973 39,450 55,164 561,587 External customer expenses: Interest expense 38,400  1,754 40,154 52,474  3,889 56,363 Noninterest expenses 232,343 21,173 21,955 275,471 267,138 26,055 21,808 315,001 Provision for credit losses 150,177  3,939 154,116 23,479  491 23,970 Total external customer expenses 420,920 21,173 27,648 469,741 343,091 26,055 26,188 395,334 Inter-segment expenses: Interest expense 8,249 1,257 2,588 12,094 13,649 6,491 3,501 23,641 Noninterest expenses 1,633 2,438 7,370 11,441 1,343 1,923 4,599 7,865 Total inter-segment expenses 9,882 3,695 9,958 23,535 14,992 8,414 8,100 31,506 Total expenses 430,802 24,868 37,606 493,276 358,083 34,469 34,288 426,840 Income before taxes $ 47,026 $ 7,073 $ 13,661 $ 67,760 $ 108,890 $ 4,981 $ 20,876 $ 134,747 Income tax provision 14,181 32,253 Consolidated net income 53,579 102,494 Net loss attributable to noncontrolling interest (1,382) (611) Net income attributable to WSFS 54,961 103,105 Supplemental Information Capital expenditures for the period ended $ 3,077 $ 256 $ 147 $ 3,480 $ 9,160 $ 1,411 $ 130 $ 10,701 The following table shows significant components of segment net assets as of September 30, 2020 and December 31, 2019: September 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 $ 720,456 $ 342,951 $ 9,513 $ 1,072,920 $ 202,792 $ 357,494 $ 11,466 $ 571,752 Goodwill 452,629  20,199 472,828 452,629  20,199 472,828 Other segment assets 12,045,866 6,757 231,737 12,284,360 10,982,681 6,555 222,486 11,211,722 Total segment assets $ 13,218,951 $ 349,708 $ 261,449 $ 13,830,108 $ 11,638,102 $ 364,049 $ 254,151 $ 12,256,302