Business
WaFd Inc. Announces Fourth Quarter and Fiscal 2024 Results
2024 Highlights Net Income was $200 million or $2.50 per diluted share for fiscal 2024 compared to $257 million or $3.72 per diluted share for 2023. The year
About this update from Wafd, Inc.
[{"type":"text","content":"\n2024 Highlights\n\n\nNet Income was $200 million or $2.50 per diluted share for fiscal 2024 compared to $257 million or $3.72 per diluted share for 2023.\n\n\nThe year included the acquisition of California-based Luther Burbank Corporation which added $7.7 billion in assets and resulted in acquisition-related expenses of $26 million.\n\n\nThe Company completed the sales of $2.8 billion in multifamily loans and $0.4 billion in single family loans obtained in the acquisition.\n\n\nLoans receivable increased $3.4 billion, or 19.7%, during 2024.\n\n\nDeposits increased $5.3 billion or 33.0% during 2024.\n\n\nDuring the year, the Company repurchased 1,070,207 shares of common stock at a weighted average price of $25.29.\n\n\nOn September 6, 2024, the Company paid a cash dividend of $0.26 per share. This was the 166th consecutive quarterly dividend paid. A total of $1.03 was paid as cash dividends during the year. \n\n\n SEATTLE--(BUSINESS WIRE)--\nWaFd, Inc. (Nasdaq: WAFD) (the \"Company\"), parent company of Washington Federal Bank (\"WaFd Bank\" or the \"Bank\"), today announced annual earnings of $200,041,000 for the fiscal year ended September 30, 2024, including the effects of the acquisition of California-based Luther Burbank Corporation (\"LBC\"). After the effect of dividends on preferred stock, net income available for common shareholders was $2.50 per share for the year. These results reflect acquisition related costs of $26,319,000 incurred in fiscal 2024. Adjusted for these expenses and non-operating items, earnings per share for the year was $3.02. For a reconciliation, see the Non-GAAP Financial Measures section below.\n\nThe following table provides the Company's financial scorecard for the last five quarters:\n\n\n\n \n\n\n\nAs of\n\n\n\n\n\n \n\n\n\nSeptember 30, 2024\n\n\n\n \n\n\n\nJune 30,\n\n\n2024\n\n\n\n \n\n\n\nMarch 31, 2024\n\n\n\n \n\n\n\nDecember 31, 2023\n\n\n\n \n\n\n\nSeptember 30, 2023\n\n\n\n\n\nBALANCE SHEET\n\n\n\n(In thousands, except share and ratio data)\n\n\n\n\n\nCash\n\n\n\n$\n\n\n\n2,381,102\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n2,492,504\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n1,505,771\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n1,144,774\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n980,649\n\n\n\n \n\n\n\n\n\nLoans receivable, net\n\n\n\n \n\n\n\n20,916,354\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n20,873,919\n\n\n\n \n\n\n\n...