WAFD
WaFd, Inc.32.73
-0.41-1.24%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q1 '26
Q&A details margin, growth path
Q&A added color on near-term margin pressure from MBS buys replacing SFR runoff, yet NII growth and a 3% NIM path via nonaccrual resolutions, deposit shifts, and 1-2 rate cuts. Details emerged on two $58M nonaccruals—a tariff-squeezed manufacturer and CRE borrower—with optimistic resolutions ahead. Active loan growth refined to 6-10% FY26, higher FY27, backed by 28% pipeline jump. Bond book eyes 25-30% long-term. Expenses hold steady post-merits. CRA 'Needs to Improve' stalls branching. Pipeline proves it.
Key Stats
Market Cap
2.58BP/E (TTM)
12.44Basic EPS (TTM)
2.63Dividend Yield
0.03%Recent Filings
8-K
Appoints Erin Hill to board
WaFd, Inc. appointed Erin Hill to its Board of Directors effective March 2, 2026, filling the vacancy left by David K. Grant. Hill, Executive Director of the Financial Accounting Foundation with prior roles at BNY Mellon and JP Morgan, joins the Audit Committee as an independent director. She receives standard non-employee director compensation. Her expertise bolsters governance.
8-K
Q1 net income jumps 36%
WaFd disclosed Q1 2026 results on February 23, showing net income of $64.2 million, up 36% from $47.3 million last year, driven by 10% net interest income growth to $171.1 million despite high rates. NPAs ticked to 0.75% of $27.3B assets, yet ACL covers 98%. Efficiency improved to 55.3%. Strong capital fuels buybacks.
8-K
Shareholders approve directors, comp
WaFd shareholders at the February 3, 2026 annual meeting elected Stephen M. Graham, Bradley M. Shuster, Randall H. Talbot, and M. Max Yzaguirre to three-year terms, approved executive compensation advisory vote, and ratified Deloitte & Touche as auditors. Director Steven Singh resigned for personal reasons, effective May 13; David Grant retired per policy. Shuster steps up as Audit Committee Chair. Board recommendations fully backed.
10-Q
Q1 FY2026 results
WaFd posted solid Q1 FY2026 results through December 31, 2025, with net interest income up 10.1% y/y to $171.1M and net income jumping 36% y/y to $64.2M, or $0.79 diluted EPS—matching basic shares at 77.0M with no anti-dilution flagged. NIM expanded 31bps y/y to 2.70% as deposit costs fell 54bps to 2.89% while asset yields dipped just 22bps, fueled by lower borrowings expense; non-interest expense dropped 5% y/y to $105.7M. Loans shrank 1.2% q/q yet cash hit $735M with borrowings up to fund $728M securities buys, maintaining tier 1 leverage at 9.44%. Repurchased 1.95M shares at $29.75 average. Non-GAAP metrics not disclosed in the 10-Q. Rising delinquencies signal commercial real estate pressure.
8-K
WaFd declares preferred dividend
WaFd declared a quarterly cash dividend of $12.1875 per share on its 4.875% Fixed Rate Series A Non-Cumulative Perpetual Preferred Stock on February 3, 2026. It equals $0.30468750 per depositary share (WAFDP), payable April 15 to holders of record March 31. Dividend upholds preferred obligations. Forward-looking statements carry risks per 10-K.
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