WaFd Inc (WAFD) News & EventsWAFDWaFd Inc

WaFd Bank Reports Q4 Revenue of $220.5M, Beating Expectations

Reports Q4 revenue $220.5M, consensus $203.7M. Report Q4 net interest margin of 2.81% vs. 2.81% in Q3. "We are pleased to report the results for our fiscal year end 2026, including increasing earnings per share by 22%, increasing our transaction deposit balances by 4.6%, and growing our active loan segments by 7.9% along with seeing significant improvements in asset quality measures. Specifically, both non-performing assets and delinquencies decreased by 37% since the June 30th quarter end. Asset quality measures improved primarily through the resolution of a large previously classified loan during the quarter resulting in a $36 million charge-off. Our balance sheet strength and resiliency were demonstrated this quarter, allowing us to handle the classified loan, while still delivering meaningful improvement in earnings to shareholders. In spite of the recent surge in interest rates to their highest level in the last twenty years, with the 10 year bond at levels above 5.20%, WaFd is well positioned to benefit from rising rates as our assets are expected to reprice more quickly than our liabilities resulting in expansion of our margin over the short term."

EverBank and WaFd Enter into Merger Agreement

EverBank Financial Corp, the parent company of EverBank, and WaFd, the parent company of WaFd Bank, announced they have entered into a definitive merger agreement providing for a strategic combination of EverBank Financial and WaFd. Under the terms of the agreement, EverBank Financial Corp will merge with and into WaFd, with WaFd continuing as the resulting financial holding company. Existing shareholders of EverBank Financial Corp will receive common stock in WaFd in exchange for their EverBank Financial Corp shares. Upon completion of the merger, WaFd will remain a publicly traded company and change its name to EverBank Financial Corp and trade on the Nasdaq Stock Exchange under the new ticker symbol EVBK. EverBank Financial Corp will be designated as the accounting acquirer. Immediately following the holding company merger, WaFd Bank, a federally insured Washington state chartered commercial bank, will merge with and into EverBank with EverBank continuing as the bank chartered by the Office of the Comptroller of the Currency. The transaction is expected to be completed in early 2027.

WaFd Reports 15% Year-over-Year EPS Growth in Q3

"WaFd delivered strong results in the third quarter of fiscal 2026, with healthy growth in earnings, loans, and equity," said president and CEO Brent Beardall. "Earnings per share increased 15% year-over-year and 2% compared to the March quarter. While overall loans outstanding grew modestly for the quarter, net loans in our active loan portfolios grew at an annualized rate of 10.4%. Growth in net interest income, combined with disciplined expense management, drove our efficiency ratio to 53.7%, and we delivered an 11.0% return on tangible common equity for the quarter. We believe that the market is beginning to recognize WaFd's consistent earnings power - our stock price is up 19% from March 31, with 4.7 million shares repurchased in the first two quarter of the fiscal year. I want to thank our team of bankers for their continued dedication to delivering for our clients and shareholders."