WaFd Inc

Latest Results (13.08.2026):

WaFd Inc. — Third quarter (Q3) 2025: WaFd reported net income of $61.95 million and diluted earnings per common share of $0.73 for the quarter ended June 30, 2025 (Q3 2025). Results improved versus the prior quarter (net income +10%, EPS +12%) driven by higher net interest income and margin, and share repurchases, while year‑over‑year net income and EPS were slightly lower than Q3 2024.

Net income & EPS

Net income was $61.952 million in Q3 2025; diluted EPS was $0.73 (vs $0.65 in Q2 2025 and $0.75 in Q3 2024). Net income rose 10% sequentially but was down 4% year‑over‑year.

Net interest income & margin

Net interest income totaled $168.0 million in Q3 2025, up $7.1 million (4%) from Q2. Net interest margin improved to 2.69% from 2.55% the prior quarter, helped by a 16 bp decrease in the rate paid on interest‑bearing liabilities and lower cost of funds (cash basis down ~6.5% sequentially).

Balance sheet & liquidity

Total assets were $26.732 billion at June 30, 2025 (down from prior periods) as the company shrank loans and used cash to reduce borrowings; net loans were $20.277 billion. Deposits were largely stable at $21.387 billion and loans‑to‑deposits stood at 94.81%.

Borrowings & investments

Borrowings (senior debt and junior subordinated debentures) fell to $1.991 billion as of June 30, 2025 (from $2.815 billion at March 31, 2025). Investment securities increased ~29.6% year‑to‑date, reflecting repositioning of liquidity.

Capital, buybacks & dividend

Tangible common book value per share rose to $28.69. The company repurchased 1,662,508 shares in the quarter at a weighted average price of $29.08 (noted as ~1.01x tangible book). WaFd paid a $0.27 per‑share cash dividend on June 7, 2025 (169th consecutive quarterly dividend).

Credit quality

Non‑performing assets increased to $97.16 million (0.36% of total assets) and non‑accrual loans represented 0.41% of net loans (up from 0.29%). Delinquencies improved slightly to 0.26% of total loans. The allowance for credit losses was $219 million (1.03% of gross loans). Net charge‑offs were $5.4 million in Q3.

Provision & expenses

The provision for credit losses was $2.0 million in Q3 (down from $2.8 million in Q2). Total non‑interest expense stabilized at $104.3 million (down modestly sequentially), producing an improved efficiency ratio of 56.01% (from 58.31% in Q2).

Profitability measures

Return on average assets was 0.92% for Q3 2025 (up from 0.82% in Q2). Return on common shareholders’ equity was 8.54% (adjusted ROE ~8.56%), and return on tangible common equity was 10.20%.