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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
$2.29B
P/E (TTM)
10.1
vs Industry 14.4
Dividend Yield (TTM)
3.7%
52W High
$38.62
52W Low
$23.75
52W Range
36%
4.3
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 4.3 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q4 2025 Data

Revenue

$185.30M-52.47%
4-Quarter Trend

EPS

$0.77+8.45%
4-Quarter Trend

FCF

$0.00+0.00%
4-Quarter Trend

2025 Q3 Earnings Highlights

Release Date: Aug 5, 2025

Key Highlights

NIM Improves Quarterly Three-month NIM reached 2.69% (up 13 bps YoY), despite lower average earning assets and reduced net interest income year-to-date.
Strong Capital Ratios Maintained CET1 ratio stood at 11.75% and Tier 1 Leverage at 9.44%, well exceeding minimum regulatory requirements as of June 30, 2025.
Loan Portfolio Contracted Net loans decreased 3.1% to $20.28B since September 2024, driven by loan repayments outpacing originations year-to-date.
Non-Interest Income Growth Nine-month non-interest income rose to $52.9M, supported by increased fee income and commissions from the insurance subsidiary.

Risk Factors

Asset Quality Deterioration Non-accrual loans increased to 0.40% of total loans, accompanied by rising net charge-offs of $10.74M for the nine-month period.
Regulatory Rating Restriction The 'Needs to Improve' CRA rating may restrict expansionary activity, including mergers and branch relocation, until the next examination likely in 2026.
Interest Rate Sensitivity Exposure NPV analysis shows significant potential decrease under sustained rate increases, despite hedging activities on fixed-rate assets and borrowings.
Single-Family Exit Risks Exiting single-family lending involves risks including significant restructuring costs and potential loss of revenue if savings are not fully offset.

Outlook

Strategic Cost Savings Realized Exiting single-family mortgage lending is estimated to generate $17M in annual expense savings, offsetting lost revenue potential.
Credit Costs Moderating Nine-month provision for credit losses decreased significantly to $4.75M compared to $17.5M in the prior year period.
Deposit Mix Shifting Favorable Management continues strategy to shift deposits from lower-yielding time deposits towards transaction accounts, lowering funding costs.
Capital Flexibility Maintained Strong equity position provides flexibility to manage interest rate risk and support controlled growth within the regulated environment.

Peer Comparison

Revenue (TTM)

Western Alliance BancorporationWAL
$5.06B
+8.8%
Western Alliance BancorporationWAL
$5.06B
+3.1%
Customers Bancorp, Inc.CUBI
$1.32B
-11.8%

Gross Margin (Latest Quarter)

WaFd, Inc.WAFD
100.0%
+51.6 pp
WaFd, Inc.WAFD
100.0%
+51.6 pp
Banner CorporationBANR
98.4%
+27.5 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
WAL$8.54B9.412.8%5.2%
WAL$8.54B9.412.8%5.2%
BOH$2.58B14.010.7%2.9%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4-Quarter Revenue CAGR
-20.0%
Growth Under Pressure
4-Quarter Net Income CAGR
+8.6%
Gradual Improvement in Profitability
Cash Flow Stability
75%
Volatile Cash Flow

Research & Insights

Reports
All Years

  • 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

  • Form 10-Q - Q1 2024

    Period End: Dec 31, 2023|Filed: Jan 31, 2024|
    Revenue: $302.84M+22.4%
    |
    EPS: $0.85-26.7%
    Beat

  • Form 10-K - FY 2023

    Period End: Sep 30, 2023|Filed: Nov 17, 2023|
    Revenue: $1.10B+49.4%
    |
    EPS: $3.72+9.4%
    Beat