Wafd, Inc. · NASDAQ:WAFD
Wafd — Q4 2026 Earnings Presentation
23 slides from Wafd's earnings presentation, Oct 16, 2026
Slide 1: WaFd Announces Fiscal 2026 Earnings and 22% Increase in EPS
Thursday, October 15, 2026 FOR IMMEDIATE RELEASE WaFd Announces Fiscal 2026 Earnings and 22% Increase in EPS Fiscal Year Highlights $256 Million $3.21 0.94% 10.68% Net Income Diluted Earnings per Return on Average Return on Tangible Common Share Assets Common Equity (1) Fourth Quarter Highlights $60
Slide 2: Annual and Fourth Quarter Results: Five-Quarter Financial Scorecard
WaFd Inc. Announces Annual and Fourth Quarter Results The following table provides the Company's financial scorecard for the last five quarters: As of September June 30, March 31, December 31, September 30, (In thousands, except share and ratio data) 30, 2026 2026 2026 2025 2025 BALANCE SHEET Cash $
Slide 3: WaFd Inc. Announces Annual and Fourth Quarter Results
WaFd Inc. Announces Annual and Fourth Quarter Results SEATTLE, WASHINGTON – WaFd, Inc. (Nasdaq: WAFD) (the "Company"), parent company of WaFd Bank (the "Bank"), today announced quarterly earnings of $59,991,000, a decrease of 9% compared to the quarter ended June 30, 2026. After the effect of divide
Slide 4: Profitability: Net Interest Income and Non-Interest Income
WaFd Inc. Announces Annual and Fourth Quarter Results Profitability Net interest income was $182.4 million for the fourth fiscal quarter of 2026, a small increase of $1 million or 0.6% from the prior quarter. This minor change was the result of a flat net interest margin. Net interest margin was 2.8
Slide 5: Consolidated Statements of Financial Condition
WAFD, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED) September 30, 2026 September 30, 2025 (In thousands, except share and ratio data) ASSETS Cash and cash equivalents $ 749,696 $ 657,310 Available-for-sale securities, at fair value 4,048,405 3,533,201 Held-to-matur
Slide 6: Consolidated Statements of Operations
WAFD, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Three months ended September 30, Twelve months ended September 30, 2026 2025 2026 2025 (In thousands, except share and ratio data) INTEREST INCOME Loans receivable $ 270,935 $ 271,787 $ 1,064,533 $ 1,119,937 Mortgage-backe
Slide 7: Consolidated Statements of Operations (Five Quarters)
WAFD, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended September 30, March 31, December September 30, 2026 June 30, 2026 2026 31, 2025 2025 (In thousands, except share and ratio data) INTEREST INCOME Loans receivable $ 270,935 $ 267,243 $ 262,148 $ 264,207 $
Slide 8: Consolidated Statements of Operations: Per Share Data and Ratios
WAFD, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended September March 31, December September 30, 2026 June 30, 2026 2026 31, 2025 30, 2025 (In thousands, except share and ratio data) PER SHARE DATA Basic earnings per common share $ 0.76 $ 0.85 $ 0.82 $ 0.79
Slide 9: Non-GAAP Financial Measures
WAFD, INC. AND SUBSIDIARIES NON-GAAP MEASURES (UNAUDITED) Non-GAAP Financial Measures The Company has presented certain non-GAAP measures within this document to remove the effect of certain income and expenses to provide investors with information useful in understanding our financial performance.
Slide 10: Non-GAAP Measures: Average Tangible Measures
WAFD, INC. AND SUBSIDIARIES NON-GAAP MEASURES (UNAUDITED) Three Months Ended September March 31, December September 30, 2026 June 30, 2026 2026 31, 2025 30, 2025 Average Tangible Measures (Unaudited - In thousands, except for ratio data) Average shareholders' equity - GAAP $ 3,030,562 $ 3,008,370 $
Slide 11: Net Income Adjusted for Acquisition Expenses and Other Non-Operating Items
WAFD, INC. AND SUBSIDIARIES NON-GAAP MEASURES (UNAUDITED) Three Months Ended Net Income Adjusted for September December September Acquisition Expenses and Other 30, 2026 June 30, 2026 March 31, 2026 31, 2025 30, 2025 Non-Operating Items (Unaudited - In thousands, except for share and ratio data) Non
Slide 12: Non-GAAP Measures: Adjusted Efficiency Ratio
WAFD, INC. AND SUBSIDIARIES NON-GAAP MEASURES (UNAUDITED) Three Months Ended September March 31, December September 30, 2026 June 30, 2026 2026 31, 2025 30, 2025 Adjusted Efficiency Ratio (Unaudited - In thousands, except for ratio data) Efficiency ratio - GAAP 55.1 % 53.7 % 55.7 % 55.3 % 56.8 % Net
Slide 13: Non-GAAP Measures: Adjusted ROA and ROE
WAFD, INC. AND SUBSIDIARIES NON-GAAP MEASURES (UNAUDITED) Three Months Ended September 30, June 30, March 31, December 31, September 30, 2026 2026 2026 2025 2025 Adjusted ROA and ROE (Unaudited - In thousands, except for ratio data) Reported: Net Income - GAAP $ 59,991 $ 66,130 $ 65,548 $ 64,196 $ 6
Slide 14: Important Cautionary Statements
Important Cautionary Statements The foregoing information should be read in conjunction with the financial statements, notes and other information contained in the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. This press release contains statem
Slide 15: WaFd, Inc. Fact Sheet: Allowance for Credit Losses and Loan Originations
WaFd Inc. Announces Fourth Quarter 2026 Results WaFd, Inc. Fact Sheet September 30, 2026 ($ in Thousands) As of 03/26 As of 06/26 As of 09/26 Allowance for Credit Losses (ACL) - Total $ 224,450 $ 233,831 $ 214,594 ACL - Loans 201,950 214,831 199,594 ACL - Unfunded Commitments 22,500 19,000 15,000 To
Slide 16: Loans Receivable by Category
Exhibit 99.2 WaFd Inc. Announces Fourth Quarter 2026 Results WaFd, Inc. Fact Sheet September 30, 2026 ($ in Thousands) As of 03/26 As of 06/26 As of 09/26 Loans Receivable by Category1 Amount % Amount % Amount % Multi-Family $ 4,750,092 22.2% $ 4,721,719 21.8 % $ 4,147,922 20.1% Commercial Real Esta
Slide 17: Loans by State and Non-Performing Assets
Exhibit 99.2 WaFd Inc. Announces Fourth Quarter 2026 Results WaFd, Inc. Fact Sheet September 30, 2026 ($ in Thousands) As of 03/26 As of 06/26 As of 09/26 Loans by State 1 Amount % Amount % Amount % Washington $ 5,514,736 27.3% $ 5,538,787 27.4% $ 5,381,173 28.0% Idaho 897,510 4.4 940,568 4.6 962,96
Slide 18: Efficiency, Share Repurchases, Book Value and Investments
Exhibit 99.2 WaFd Inc. Announces Fourth Quarter 2026 Results WaFd, Inc. Fact Sheet September 30, 2026 ($ in Thousands) 03/26 QTR 03/26 YTD 06/26 QTR 06/26 YTD 09/26 QTR 09/26 YTD Efficiency Operating Expenses/Average Assets 1.61% 1.59% 1.60% 1.59% 1.76% 1.64% Efficiency Ratio (%) 55.66% 55.45% 53.69
Slide 19: Deposits and Branches by State
Exhibit 99.2 WaFd Inc. Announces Fourth Quarter 2026 Results WaFd, Inc. Fact Sheet September 30, 2026 ($ in Thousands) As of 03/26 As of 06/26 As of 09/26 Deposits & Branches by State Amount % # Amount % # Amount % # Washington $ 8,504,298 40.3% 73 $ 8,511,128 40.7% 74 $ 8,831,835 41.4% 74 Idaho 926
Slide 20: Interest Rate Risk, CPR Rates and Repricing
Exhibit 99.2 WaFd Inc. Announces Fourth Quarter 2026 Results WaFd, Inc. Fact Sheet September 30, 2026 ($ in Thousands) Interest Rate Risk(b) As of 03/26 As of 06/26 As of 09/26 NPV post up 100 bps shock 10.6% 11.0% 10.7% NPV post down 100 bps shock 12.6% 12.8% 12.4% Change in NII after up 100 bps sh
Slide 21: Average Balance Sheet: Quarterly
Exhibit 99.2 WaFd Inc. Announces Fourth Quarter 2026 Results WaFd, Inc. Fact Sheet September 30, 2026 Average Balance Sheet ($ in Thousands) Quarter Ended March 31, 2026 June 30, 2026 September 30, 2026 Average Average Average Average Average Average Balance Interest Rate Balance Interest Rate Balan
Slide 22: Average Balance Sheet: Annual
Exhibit 99.2 WaFd Inc. Announces Fourth Quarter 2026 Results WaFd, Inc. Fact Sheet September 30, 2026 Average Balance Sheet ($ in Thousands) Year Ended September 30, 2025 September 30, 2026 Average Average Average Average Balance Interest Rate Balance Interest Rate Assets Loans receivable $ 20,651,3
Slide 23: Delinquency Summary
Exhibit 99.2 WaFd Inc. Announces Fourth Quarter 2026 Results WaFd, Inc. Fact Sheet September 30, 2026 Delinquency Summary ($ in Thousands) # of Loans Loans Amortized % Based $ % Based Type of Loans(1) #Loans AVG Size Cost 30 60 90 Total on # Delinquent on $ September 30, 2026 Multi-Family 1,797 2,28