Core Insights - WaFd, Inc. has appointed Colin Murphy as the Regional President for Northern Oregon, focusing on commercial and retail banking strategies [1][2] - Murphy brings over 22 years of banking experience, with more than 15 years in commercial banking, previously leading a team at BMO/Bank of the West [1][2] - His leadership style emphasizes relationship management, market growth, and team empowerment in competitive environments [1][2] Company Overview - WaFd, Inc. is the parent company of WaFd Bank, a federally insured commercial bank operating in multiple states including Washington, Oregon, Idaho, Utah, Nevada, Arizona, Texas, New Mexico, and California [4] - Established in 1917, WaFd Bank offers a range of services including consumer and commercial deposit accounts, financing for small to middle-market businesses, commercial and residential real estate, and insurance products [4]

WaFd (WAFD) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended December 2025. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they miss, the stock may move ...

Core Insights - The primary focus for income investors is generating consistent cash flow from liquid investments, which can come from various sources including dividends [1][2] Company Overview - WaFd (WAFD), based in Seattle, operates in the Finance sector and has experienced a price change of 2.42% this year [3] - The company currently pays a dividend of $0.27 per share, resulting in a dividend yield of 3.27%, which is higher than the Banks - West industry's yield of 2.89% and the S&P 500's yield of 1.4% [3] Dividend Analysis - WaFd's annualized dividend of $1.08 has increased by 0.9% from the previous year, with a historical average annual increase of 4.27% over the last five years [4] - The company's current payout ratio is 40%, indicating that it pays out 40% of its trailing 12-month earnings per share as dividends [4] Earnings Growth - The Zacks Consensus Estimate for WaFd's earnings in 2025 is $3.06 per share, reflecting an expected increase of 12.50% from the previous year [5] Investment Considerations - WaFd is considered a compelling investment opportunity due to its strong dividend profile and current Zacks Rank of 3 (Hold) [6]

Getting big returns from financial portfolios, whether through stocks, bonds, ETFs, other securities, or a combination of all, is an investor's dream. But for income investors, generating consistent cash flow from each of your liquid investments is your primary focus.Cash flow can come from bond interest, interest from other types of investments, and, of course, dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that ...

Company Overview - WaFd (WAFD) is based in Seattle and operates in the Finance sector, with a year-to-date share price change of -1.99% [3] - The company currently pays a dividend of $0.27 per share, resulting in a dividend yield of 3.42%, which is higher than the Banks - West industry's yield of 3.12% and the S&P 500's yield of 1.54% [3] Dividend Performance - WaFd's current annualized dividend of $1.08 has increased by 0.9% from the previous year [4] - Over the past 5 years, WaFd has raised its dividend 5 times, achieving an average annual increase of 4.27% [4] - The company's current payout ratio is 40%, indicating that it pays out 40% of its trailing 12-month earnings per share as dividends [4] Earnings Expectations - The Zacks Consensus Estimate for WaFd's earnings in 2025 is projected at $3.06 per share, reflecting an expected increase of 12.50% from the previous year [5] Investment Considerations - WaFd is considered a compelling investment opportunity due to its strong dividend profile and current Zacks Rank of 3 (Hold) [6] - The company is positioned well for income investors, especially in contrast to high-growth firms that typically do not offer dividends [6]

Loan Losses and Credit Provisions - The allowance for loan losses decreased by $4,033,000, or 1.98%, from $203,753,000 as of September 30, 2024, to $199,720,000 at September 30, 2025[270]. - The Company recorded a provision for credit losses of $7,750,000 in 2025, compared to a provision of $17,500,000 for 2024[270]. - Net charge-offs for the year ended September 30, 2025, were $11,783,000, compared to charge-offs of $1,356,000 in the prior year[270]. - The ratio of the total allowance for credit losses (ACL) to total gross loans increased to 1.04% as of September 30, 2025, compared to 1.01% as of September 30, 2024[270]. - The reserve for unfunded loan commitments remained unchanged at $21,500,000 as of September 30, 2025[270]. - The allowance for credit losses for commercial loans totaled $152,134,000, a decrease of $1,239,000 or 1% from the previous year[269]. - The allowance for credit losses for consumer loans totaled $47,586,000, a decrease of $2,794,000 or 6% from the previous year[269]. - The Company’s allowance for credit losses is comprised of $131,652,000 related to the quantitative component and $68,068,000 related to management's qualitative overlays[270]. - Management believes the total ACL is sufficient to absorb estimated losses inherent in the portfolio of loans and unfunded commitments[270]. Non-Performing Assets - Non-performing assets increased by 84.7% to $143,022,000, representing 0.54% of total assets as of September 30, 2025, compared to $77,418,000, or 0.28% of total assets, as of September 30, 2024[283]. - Total non-accrual loans reached $128,628,000 as of September 30, 2025, up from $69,541,000 in the previous year, primarily due to one commercial real estate loan over 90 days past due[282]. - The allowance for loan losses was $199,720,000, with a coverage ratio of 155% for non-accrual loans as of September 30, 2025, down from 293% the previous year[284]. - The ratio of total non-performing assets to total assets increased to 0.54% as of September 30, 2025, from 0.28% the previous year[283]. - The majority of real estate owned (REO) properties, totaling $11,084,000, are expected to be sold, with an increase of 142.7% from the previous year[284]. Investment Securities - Available-for-sale (AFS) investment securities increased by $960,492,000, or 37.3%, to $3,533,201,000 as of September 30, 2025, due to securities purchases and unrealized losses[286]. - The net unrealized loss for AFS securities decreased to $9,237,000 as of September 30, 2025, compared to $44,168,000 as of September 30, 2024[287]. - Held-to-maturity (HTM) investment securities increased by $208,830,000 to $645,802,000, or 47.8%, during the year ended September 30, 2025[288]. - The net unrealized loss on held-to-maturity securities was $33,063,000, compared to $35,926,000 the year prior[288]. - The composition of the investment portfolio was 44.6% variable rate and 55.5% fixed rate as of September 30, 2025, aimed at mitigating interest rate risk[341]. Financial Performance - Net income increased by $26,027,000, or 13.0%, to $226,068,000 for the year ended September 30, 2025, compared to $200,041,000 for the prior year[318]. - Net interest income for the year ended September 30, 2025, was $654,235,000, a decrease of $6,597,000 or 1.0% from the previous year, with a net interest margin of 2.58%[319]. - Non-interest income increased by $10,555,000, or 17.4%, to $71,247,000 for the year ended September 30, 2025, driven by higher prepayment fees and commission income from WaFd Insurance[323]. - Total non-interest expense decreased by $20,809,000, or 4.6%, to $427,463,000 in 2025, influenced by a reduction in compensation costs and FDIC premiums[324]. - The Company's efficiency ratio improved to 58.9% in 2025 from 62.1% in 2024, with total operating expenses as a percentage of average assets decreasing to 1.58% from 1.71%[325]. Deposits and Borrowings - Customer deposits totaled $21,437,636,000 as of September 30, 2025, reflecting a $63,666,000, or 0.3%, increase from $21,373,970,000 in the prior year[308]. - Transaction accounts increased by $489,347,000, or 4.1%, while time deposits decreased by $425,681,000, or 4.5%[308]. - Total borrowings decreased to $1,765,604,000 as of September 30, 2025, from $3,267,589,000 at the same date in 2024, with a weighted average rate of 2.50%[317]. - The Company has a credit line with the FHLB - DM providing $6,647,214,000 of additional borrowing capacity as of September 30, 2025[332]. Interest Rate and Asset Management - The interest rate spread improved to 2.32% as of September 30, 2025, up from 1.91% a year earlier, with the weighted-average rate on interest-earning assets decreasing by 12 basis points to 5.23%[350]. - Average interest-earning assets increased by 3.2% to $25,337,814,000 for the year ended September 30, 2025, compared to $24,559,665,000 for the previous year[354]. - Average interest-bearing customer deposit accounts rose by $2,408,182,000, or 14.7%, while average borrowings decreased by $1,819,187,000, or 42.9%[355]. - The net interest margin decreased to 2.58% for the year ended September 30, 2025, down from 2.69% for the previous year, with the yield on interest-earning assets decreasing by 30 basis points[353]. - The company was in compliance with all of its interest rate risk policy limits as of September 30, 2025[349]. Tax and Equity - The effective tax rate for 2025 was 21.95%, slightly up from 21.88% in 2024, with income tax expense increasing by $7,559,000, or 13.5%[327]. - Shareholders' equity increased to $3,039,575,000, or 11.38% of total assets, compared to $3,000,300,000, or 10.69% of total assets, in 2024, with 82.5% of net income returned to shareholders[331].

Core Viewpoint - WaFd, Inc. has announced a regular quarterly cash dividend of 27 cents per share, marking its 171st consecutive quarterly cash dividend, to be paid on December 5, 2025, to shareholders of record as of November 21, 2025 [1]. Company Overview - WaFd, Inc. is the parent company of WaFd Bank, a federally insured commercial bank operating in multiple states including Washington, Oregon, Idaho, Utah, Nevada, Arizona, Texas, New Mexico, and California [1]. - Established in 1917, WaFd Bank provides a range of financial services including consumer and commercial deposit accounts, financing for small to middle-market businesses, commercial and residential real estate, and insurance products [1]. - As of September 30, 2025, the company operated 208 branches with total assets of $26.7 billion, deposits of $21.4 billion, and shareholders' equity of $3.0 billion [1].

Loan Portfolio and Credit Losses - Total Allowance for Credit Losses (ACL) as of September 30, 2025, is $221,220, with ACL for Loans at $199,720, representing 1.04% of Gross Loans[2] - Total Loans Receivable as of September 30, 2025, amounts to $21,274,392, with Single-Family Residential loans comprising 37.9% of the total[4] - Multi-Family loan originations for Q3 2025 reached $36,386, while Commercial Real Estate originations totaled $210,650, and Commercial & Industrial loans amounted to $507,280[2] - Net Loans as of September 30, 2025, stand at $20,088,618, reflecting a slight decrease from $20,277,164 in June 2025[4] - The total amount of loans in process as of September 30, 2025, is $773,606[4] - Total loans as of September 30, 2025, amounted to $20,288,338, a decrease from $20,475,933 as of June 30, 2025[6] - Non-performing assets increased to $143,022 as of September 30, 2025, up from $97,160 as of June 30, 2025, representing a rise of 47.4%[6] - Non-accrual loans as a percentage of total net loans rose to 0.64% as of September 30, 2025, compared to 0.41% as of June 2025[6] - Total net charge-offs for the quarter ending September 30, 2025, were $1,048, representing 0.02% of gross balance[7] Loan Performance and Interest Rates - The weighted average rate on loan originations decreased to 6.87% in Q3 2025, compared to 7.22% in Q2 2025[2] - The average interest rate on loans receivable decreased from 5.44% in June 2025 to 5.35% in September 2025[16] - The average interest rate on loans receivable decreased from 5.69% in September 2024 to 5.42% in September 2025[18] Financial Performance and Ratios - The efficiency ratio improved to 56.82% for the quarter ending September 30, 2025, down from 59.66% for the quarter ending June 30, 2025[9] - The company reported a net interest income of $169,906 thousand for the quarter ended September 30, 2025[16] - The net interest margin improved from 2.69% in June 2025 to 2.71% in September 2025[16] - The net interest margin decreased from 2.69% in September 2024 to 2.58% in September 2025[18] Shareholder Equity and Stock Performance - The company repurchased 969,653 shares at an average price of $29.74 during the quarter ending September 30, 2025[9] - Tangible common shareholders' book value per share increased to $29.38 as of September 30, 2025, up from $28.69 as of June 30, 2025[9] - The company reported a total of 2,297,482 in tangible common shareholders' equity as of September 30, 2025[9] - Shareholders' equity rose from $2.76 billion to $3.03 billion, marking an increase of 9.79%[18] Deposits and Interest-Earning Assets - Total deposits as of September 30, 2025, reached $21,437,636, a slight increase from $21,386,571 as of June 30, 2025, and $21,427,426 as of March 31, 2025[11] - Non-interest checking deposits increased from $2,487,816 (11.6%) in June 2025 to $2,567,539 (12.0%) in September 2025[11] - Time deposits decreased from $9,417,447 (44.0%) in June 2025 to $9,131,104 (42.6%) in September 2025[11] - Interest-bearing customer accounts increased from $16.33 billion to $18.74 billion, a growth of 14.77%[18] - Total interest-earning assets rose from $24.56 billion to $25.34 billion, an increase of 3.16%[18] Asset and Liability Management - The total assets as of September 30, 2025, were $26,540,782 thousand, down from $26,813,500 thousand as of June 30, 2025[16] - The total liabilities decreased from $23,782,755 thousand in June 2025 to $23,517,684 thousand in September 2025[16] - Agency MBS available-for-sale increased to $2,603,153 as of September 30, 2025, up from $2,411,707 as of June 30, 2025[9] Delinquency and Loan Statistics - Delinquency rate for total loans was 0.77% as of September 30, 2025, compared to 0.66% in June 2025[20] - The total number of loans was 41,648 with a total loan size of $20.29 billion as of September 30, 2025[20] - Multi-family non-accrual loans decreased to $19,121, representing 15.0% of total non-accrual loans as of September 30, 2025[6] Conditional Payment Rate - The conditional payment rate (CPR) for WAFD mortgages was 7.5% for the quarter ended September 30, 2025, compared to 9.0% in June 2025[14]

Core Insights - Washington Federal Bank has launched a registered investment advisor, WaFd Wealth, aiming to diversify its revenue streams and provide comprehensive financial services under one roof [1][2] - John Chavez, a veteran from Merrill Lynch, has been appointed to lead WaFd Wealth and is focused on developing a technology platform for the mass affluent market [2][3] Company Strategy - The bank's strategy includes integrating wealth management, trust services, and boutique banking to enhance client offerings [2] - Chavez is collaborating with Pike Street Labs to create a financial planning technology platform that will utilize AI-generated outcomes for client scenarios [3] Future Plans - In three years, the bank anticipates that the technology solution for the affluent segment could surpass the assets under management (AUM) of its core wealth management business [3] - The bank plans to empower its staff to pursue Certified Financial Planner (CFP) designations, potentially training thousands of financial planners across its locations [4] Trust Services Development - WaFd Wealth is set to launch a trust company within the next three to four months, which will operate as a subsidiary of WaFd Wealth [4] - The trust company aims to support clients with special needs trusts and leverage recent federal estate tax law changes to enhance planning tools [5] Personal Connections - Chavez has a long-standing relationship with WaFd CEO Brent Beardall, which facilitated the discussions leading to the launch of the wealth management business [6]

Core Insights - WaFd, Inc. (WAFD) reported a fourth-quarter fiscal 2025 earnings per share of 72 cents, missing the Zacks Consensus Estimate of 75 cents, but reflecting a year-over-year increase of 1.4% [1][10] - The company's full-year earnings per share of $2.63 also fell short of the Zacks Consensus Estimate of $2.73, although it grew 5.2% year over year [3] Financial Performance - Quarterly net income available to common shareholders was $56.9 million, down 1% from the prior-year quarter, slightly above the estimate of $56.8 million [2] - Full-year net income available to common shareholders was $211.4 million, up 14% from the previous year, closely aligning with the estimate of $211.3 million [3] - Quarterly net revenues were $188.3 million, a slight decline from the prior-year quarter and missing the Zacks Consensus Estimate of $190.2 million [4] - Full-year net revenues totaled $725.5 million, a marginal increase from the previous year, but also missing the Zacks Consensus Estimate of $727.4 million [4] Interest Income and Expenses - Net interest income (NII) for the quarter was $169.9 million, down 1.7% year over year, while the net interest margin (NIM) increased by 9 basis points to 2.71% [5] - Total non-interest income rose 15.8% year over year to $18.4 million, exceeding the estimate of $18 million [5] - Total non-interest expenses were $107 million, a 1% decrease year over year, attributed to lower FDIC insurance premiums and other expenses [6] Asset Quality and Loans - As of September 30, 2025, net loans receivable were $20.09 billion, down 1% from the prior quarter, while total customer deposits increased marginally to $21.44 billion [8] - The allowance for credit losses was 1.04% of gross loans outstanding, up from 1.01% in the prior-year quarter, indicating a deterioration in credit quality [11] Share Repurchase Activity - In the reported quarter, WAFD repurchased 0.97 million shares at an average price of $29.74 per share [12] Market Position and Outlook - The company is expected to benefit from relatively higher interest rates and a solid balance sheet, although it faces challenges from a tough macroeconomic environment [13]