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WaFd Announces Quarterly Earnings Per Share of $0.54
SEATTLE--(BUSINESS WIRE)-- WaFd, Inc. (Nasdaq: WAFD): Q1 Highlights $47 Million $0.54 0.69% 6.42% Net Income Diluted Earnings per Common Share Return on
About this update from Wafd, Inc.
[{"type":"text","content":" SEATTLE--(BUSINESS WIRE)--\nWaFd, Inc. (Nasdaq: WAFD): \n\n\n\n\nQ1 Highlights\n\n\n\n\n\n\n\n\n$47 Million\n\n\n\n\n\n \n\n \n\n\n\n\n\n\n$0.54\n\n\n\n\n\n \n\n \n\n\n\n\n\n\n0.69%\n\n\n\n\n\n \n\n \n\n\n\n\n\n\n6.42%\n\n\n\n\n\n\n\n\nNet Income\n\n\n\n\n\n \n\n \n\n\n\n\n\n\nDiluted Earnings per\nCommon Share\n\n\n\n\n\n \n\n \n\n\n\n\n\n\nReturn on Average\nAssets\n\n\n\n\n\n \n\n \n\n\n\n\n\n\nReturn on Average\nCommon Equity\n\n\n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\nNet Interest Income and NIM\n\n\n\n\n\n\n\n$155 million net interest income for the quarter compared to $173 million in Q4 FY24.\n\n\n\nNet interest margin at 2.39% for the quarter compared to 2.62% for Q4 FY24.\n\n\n\n\n\n\n \n\n\n\n\n\n\nCredit Quality\n\n\n\n\n\n\n\nNon-performing assets at 0.3% of total assets - similar to prior quarter.\n\n\n\nNo provision booked for the quarter and NCOs were minimal.\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNon-Interest Income and Expense\n\n\n\n\n\n\n\nNon-interest expense up due to $5.4 million in one-time restructuring charges, partially offset by lower FDIC insurance premiums due to a smaller balance sheet.\n\n\n\n\n\n\n \n\n\n\n\n\n\nShareholder Returns and Stock Activity\n\n\n\n\n\n\n\nOn December 6, 2024, the Company paid a cash dividend of $0.26 per share, 167th consecutive quarterly dividend paid.\n\n\n\n\n\n\n\n \n\n\n \n\n\nWaFd, Inc. (Nasdaq: WAFD) (the \"Company\"), parent company of Washington Federal Bank (\"WaFd Bank\" or the \"Bank\"), today announced quarterly earnings of $47,267,000 for the quarter ended December 31, 2024, a decrease of 23% from net earnings of $61,140,000 for the quarter ended September 30, 2024 and a decrease of 19% from net earnings of $58,453,000 for the quarter ended December 31, 2023. After the effect of dividends on preferred stock, net income available for common shareholders was $0.54 per diluted share for the quarter ended December 31, 2024, compared to $0.71 per diluted share for the quarter ended September 30, 2024, a $0.17 or 24% decrease, and $0.85 per diluted share for the quarter ended December 31, 2023, a $0.31 or 36% decrease in fully diluted earnings per common share. The current quarter results reflect one-time charges of $5,390,000 as a result of restructuring activities described below. After adjusting for these cha...