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WaFd Announces Quarterly Earnings Per Share of $0.73
SEATTLE--(BUSINESS WIRE)-- WaFd, Inc. (Nasdaq: WAFD): Q3 Highlights $62 Million $0.73 0.92% 10.2% 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\nQ3 Highlights\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n$62 Million\n\n\n\n\n\n\n \n\n\n\n\n\n\n$0.73\n\n\n\n\n\n\n \n\n\n\n\n\n\n0.92%\n\n\n\n\n\n\n \n\n\n\n\n\n\n10.2%\n\n\n\n\n\n\n\n\nNet Income\n\n\n\n\n\n\n \n\n\n\n\n\n\nDiluted Earnings\nper Common Share\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\nReturn on Tangible\nCommon Equity\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\"The third quarter delivered strong core earnings driven by improved margin and resultant net interest income. Our cost of funds in dollars decreased 6.5% on a linked quarter basis, benefiting from lower rates on deposits and reduced borrowings as we chose to shrink the balance sheet. We have found loan demand to be tepid at best, as many borrowers are waiting for more certainty before starting new projects. Absent loan demand, we aggressively repurchased shares this quarter at attractive prices (1.01x of tangible book value), contributing to the 12% increase in earnings per share and the 5.4% annualized increase in tangible book value per share.\"\n\n\n\n \n\n\nBrent BeardallPresident and CEO of WaFd Bank\n\n\n\n\nNet Interest Income and NIM\n\n\n\n\n\n\n•\n\n\n\n\n\n\n$168 million net interest income for the quarter compared to $161 million in Q2.\n\n\n\n\n\n\n \n\n\n\n\n\n\nCredit Quality\n\n\n\n\n\n\n•\n\n\n\n\n\n\nNon-performing assets up $26 million at 0.36% of total assets compared to 0.26% for Q2.\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n•\n\n\n\n\n\n\nNet interest margin at 2.69% for the quarter compared to 2.55% for Q2.\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n•\n\n\n\n\n\n\nDelinquencies down $4 million to 0.26% of total loans compared to 0.27% for Q2.\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\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•\n\n\n\n\n\n\nNon-interest income and expense stable compared to Q2.\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•\n\n\n\n\n\n\nOn June 7, 2025, the Company paid a cash dividend of $0.27 per share, 169th consecutive quarterly dividend paid.\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n•\n\n\n\n\n\n\nEfficiency ratio decreased to 56.01% Q3 compared to 58.31% in the prior quarter as a result of the increased net interest income.\n\n\n...