What is Washington Federal Pref A ADR's latest dividend and current dividend yield?

What is Washington Federal Pref A ADR's gross profit margin?

What were the key takeaways from Washington Federal Pref A ADR’s earnings call?

What were the key takeaways from Washington Federal Pref A ADR's earnings call?

What is the revenue and EPS growth rate for Washington Federal Pref A ADR year over year?

What is the market's earnings forecast for Washington Federal Pref A ADR next quarter?

Did Washington Federal Pref A ADR beat or miss consensus estimates last quarter?

What factors drove the changes in Washington Federal Pref A ADR's revenue and profit?

- **Revenue Growth**: 13% YoY increase in net income to $60.5M, driven by strategic shift to small business banking.
- **Margin Improvement**: Targeting 3% NIM within 2 years via deposit mix shift and rate cuts; Q1 2026 NIM 2.7% (spot 2.77%).
- **Loan Portfolio Expansion**: Active loan pipeline up 28% to $3.2B, C&I loans +97% in 12 months.
- **Credit Quality**: NPAs at 0.75% (up from 0.54%), but well-capitalized with 1.05% ACL coverage.
- **Share Buybacks**: Aggressive repurchases at $29.75 avg price, 6.3M shares remaining authorization.

**【CEO Opening Remarks】**
- Reported net income of $60.5 million ($0.79 per diluted share), up 13% year-over-year and 2% quarter-over-quarter.
- Highlighted strategic progress in shifting focus to small business banking, with noninterest-bearing deposits growing to 12.6% of total deposits (vs. 11% in 2024).
- Announced 2030 goal to increase noninterest-bearing deposits to 20% of total deposits, up from 12.6% today.

**【CFO Financial Commentary】**
- Net interest margin (NIM) of 2.7% (spot rate 2.77%), pressured by $5 million in nonaccrual interest reversals and $800M in maturing borrowings.
- Active loan portfolio flat Q/Q but pipeline up 28% to $3.2B, driven by C&I (up 97% in 12 months).
- Deposit growth strong: transaction deposits +18%, core deposits 79.7% of total (vs. 77.9% Q3).
- Efficiency ratio improved to 55.3% (from 56.8%), with expense control (+1.2% Q/Q).

**【Chief Credit Officer Update】**
- Nonperforming assets (NPAs) at 0.75% of total assets, up from 0.54% Q3, due to 2 large commercial relationships ($58M combined).
- Criticized loans at 4.6% of net loans, reflecting macro stress but no systemic issues.
- Allowance for credit losses at 1.05% of gross loans, well-capitalized at 1.33% for commercial portfolio.

**【Q&A Highlights】**
- Margin outlook: 3% target achievable in 2 years with rate cuts and deposit mix shift.
- Borrowing strategy: $800M maturing in Q1 will be refinanced at lower rates if Fed cuts.
- Share buybacks: $29.75 avg price in Q1, 6.3M shares remaining under authorization.
- CRA rating appeal: Needs to Improve status could limit branching flexibility if unresolved.

WaFd, Inc. (WAFD) Q1 2026 Earnings Call Transcript

- **Active Loan Growth**: Q4 originations ($1.4B) > repayments ($1.2B), with FY26 target 8-12% growth in active portfolio.
- **Margin Expansion**: Spot rate 2.82% could improve with rate cuts, but 1-2q lag for full impact.
- **Deposit Strategy**: 20% noninterest-bearing deposits by 2030 (12% now), focusing on small business relationships.
- **Wealth Management**: $1B AUM target in 2 years, enhancing noninterest income.
- **Share Buybacks**: Likely resuming as stock trades below tangible book value.
- **Credit Quality**: Delinquencies up 34bps to 0.6%, but nonperforming assets (0.54%) remain healthy.

**【CEO Opening Remarks】**
- WaFd reported net income of $56.9 million for Q4 2025, down $0.01 per share from Q4 2024 due to higher noninterest expenses.
- Loans receivable decreased $188 million, with active loan originations ($1.4B) outpacing repayments ($1.2B) for the first time in FY25.
- Deposits grew $51 million, with noninterest-bearing deposits up 3.2% and core deposits at 78% of total.
- Net loan-to-deposit ratio improved to 93.7%, and liquidity remains strong with well-capitalized ratios.

**【CFO Financial Commentary】**
- Net interest income increased $1.9 million, driven by lower liability costs outpacing asset yield declines (3bps).
- Noninterest income rose slightly to $18.4M, including $4.6M from WaFd Insurance (12.5% FY25 growth).
- Noninterest expenses rose $2.7M due to tech and talent investments, raising efficiency ratio to 56.82%.
- Net interest margin ended at 2.71%, with a spot rate of 2.82% as of Q4 end.

**【Chief Credit Officer Update】**
- Active loan production surged 100% QoQ to $1.4B, with CRE up 380%, C&I up 56%, and construction up 142%.
- Delinquencies rose 34bps to 0.6%, but nonperforming assets (0.54%) remain modest vs. peers.
- Single large CRE loan (>$90M past due) drove NPA increase, but no charge-off taken.
- Allowance for credit losses at 1.04% of loans, up from 1.01% FY24, reflecting cautious underwriting.

**【Client Experience Update】**
- Launched WaFd Wealth Management with $1B AUM target in 2 years; early momentum positive.
- Digital banking enhancements include direct deposit switching, mobile wire transfers ($10 fee), and consumer account opening in 10 mins.
- Client data platform personalizes experience, e.g., targeting small business loan applicants.
- Net Promoter Score improved to 58 from 17 in 8 years, winning 'Best Bank' in 4 states.

**【Q&A Highlights】**
- **Loan Growth**: Active portfolio expected to grow 8-12% FY26, with $200-300M Q/Q inactive runoff.
- **Margin Outlook**: Spot rate of 2.82% could expand with rate cuts, but lag 1-2 qtrs for full benefit.
- **Deposit Strategy**: Target 20% noninterest-bearing deposits by 2030 (currently 12%), focusing on small business relationships.
- **M&A**: Open to acquisitions but constrained by low valuation and CRA compliance needs.
- **Regulatory Focus**: Advocating for $10M transaction deposit insurance to level playing field vs. G-SIBs.
- **Share Buybacks**: Likely to resume given stock trading below tangible book value.

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