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WaFd, Inc.

WaFd, Inc.

NASDAQ•WAFD
CEO: Mr. Brent J. Beardall CPA
Sector: Financial Services
Industry: Banks - Regional
Listing Date: 1982-11-09
WaFd, Inc. operates as the bank holding company for Washington Federal Bank that provides lending, depository, insurance, and other banking services in the United States. The company provides deposit products, including business and personal checking accounts, and term certificates of deposit, as well as money market accounts and passbook savings accounts. It offers single-family dwellings, construction, land acquisition and development, consumer lot, multi-family residential, commercial real estate, home equity, business, and consumer loans, as well as commercial and industrial loans. In addition, the company offers insurance brokerage services, such as individual and business insurance policies; holds and markets real estate properties; and debit and credit cards, as well as acts as the trustee. It serves consumers, mid-sized and large businesses, and owners and developers of commercial real estate. The company was formerly known as Washington Federal, Inc. and changed its name to WaFd, Inc. in September 2023. WaFd, Inc. was founded in 1917 and is headquartered in Seattle, Washington.
Contact Information
425 Pike Street, Seattle, WA, 98101, United States
206-624-7930
www.wafdbank.com
Market Cap
$2.51B
P/E (TTM)
10.4
15
Dividend Yield
3.3%
52W High
$34.30
52W Low
$23.75
52W Range
87%
Rank41Top 44.9%
4.0
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 4 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q1 2026 Data

Revenue

$342.91M-5.08%
4-Quarter Trend

EPS

$0.79+46.30%
4-Quarter Trend

FCF

$50.04M+0.00%
4-Quarter Trend

2026 Q1 Earnings Highlights

Key Highlights

Strong Net Income Growth Net income available to common shareholders rose to $60.54M, up significantly from $43.61M year-over-year for the quarter.
NIM Expansion Continues Net Interest Margin improved to 2.70% (31 bps increase) driven by lower funding costs, despite lower asset yields.
Asset Quality Deterioration Non-performing assets increased to $203.40M (0.75% of assets) from $143.02M (0.54%) last quarter; non-accruals rose to 0.95%.
Capital Ratios Remain Strong Bank CET1 ratio held steady at 13.44%, well above minimum requirements, supporting controlled growth objectives.

Risk Factors

Rising Non-Performing Loans Non-accrual loans increased 49% sequentially to $191.35M, driven by two commercial relationships requiring active management.
Provisioning for Credit Losses Recorded $3.50M provision for credit losses this quarter, reversing zero provision last year, due to mixed credit metrics.
Interest Rate Risk Exposure NPV analysis shows potential significant decrease in NPV under adverse rate shifts, despite NIM improvement this period.
Regulatory Rating Upgrade While CRA rating improved to "Satisfactory," a future "Needs to Improve" rating could restrict expansion and branch activity.

Outlook

Focus on Commercial Lending Commercial loan originations accounted for 94% of the total originations this quarter, aligning with strategic focus shift.
Deposit Mix Optimization Strategy continues shifting away from Time Deposits (down 6.4%) toward lower-cost Transaction Accounts (up 4.5%).
Mortgage Origination Exit Impact Company no longer originates consumer single-family home loans since January 2025; existing portfolio remains significant.
Sufficient Capital Position Management believes strong equity position provides flexibility for managing balance sheet risk and supporting future controlled growth.

Peer Comparison

Revenue (TTM)

Western Alliance BancorporationWAL
$5.29B
+5.6%
Customers Bancorp, Inc.CUBI
$1.41B
+3.9%
WaFd, Inc.WAFD
$1.39B
-6.7%

Gross Margin (Latest Quarter)

CVB Financial Corp.CVBF
104.1%
+23.7pp
Park National CorporationPRK
83.5%
+4.2pp
Banner CorporationBANR
76.1%
+3.6pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
WAL$10.26B10.413.3%7.2%
FFBC$3.17B11.39.8%5.6%
BOH$3.11B15.111.6%0.4%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-1.1%
Flat Growth
4Q Net Income CAGR
4.5%
Profitability Slowly Improving
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Apr 9, 2026
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EPS:-
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Revenue:-
Reports
Financials
All Years

  • Form 10-Q - Q1 2026

    Period End: Dec 31, 2025|Filed: Feb 4, 2026|
    Revenue: $342.91M-5.1%
    |
    EPS: $0.79+46.3%
    Beat

  • Form 10-K - FY 2025

    Period End: Sep 30, 2025|Filed: Nov 18, 2025|
    Revenue: $1.41B-1.6%
    |
    EPS: $2.64+5.6%
    Beat

  • Form 10-Q - Q3 2025

    Period End: Jun 30, 2025|Filed: Aug 5, 2025|
    Revenue: $349.99M-14.4%
    |
    EPS: $0.73-2.7%
    Beat

  • Form 10-Q - Q2 2025

    Period End: Mar 31, 2025|Filed: May 2, 2025|
    Revenue: $354.70M+7.2%
    |
    EPS: $0.65+282.4%
    Beat

  • Form 10-Q - Q1 2025

    Period End: Dec 31, 2024|Filed: Feb 4, 2025|
    Revenue: $361.25M+19.3%
    |
    EPS: $0.54-36.5%
    Miss

  • Form 10-K - FY 2024

    Period End: Sep 30, 2024|Filed: Nov 20, 2024|
    Revenue: $1.43B+30.8%
    |
    EPS: $2.50-32.8%
    Beat

  • Form 10-Q - Q3 2024

    Period End: Jun 30, 2024|Filed: Aug 2, 2024|
    Revenue: $409.07M+42.5%
    |
    EPS: $0.75-15.7%
    Beat

  • Form 10-Q - Q2 2024

    Period End: Mar 31, 2024|Filed: May 3, 2024|
    Revenue: $330.90M+24.8%
    |
    EPS: $0.17-82.1%
    Miss