WAFD Inc Reports 10% Increase in Quarterly Net Income

By Hao Liu • Monday, July 21 10:07 • Permanent Link

WAFD, Inc. (NASDAQ: WAFD) has announced its quarterly earnings for the period ended June 30, 2025. The company reported net income of $61,952,000 for the quarter, marking a 10% increase from the previous quarter's net earnings of $56,252,000 and a 4% decrease from the same quarter last year, which saw net earnings of $64,560,000. After accounting for dividends on preferred stock, net income available for common shareholders was $0.73 per diluted share for the quarter, showing a significant 12% increase from the previous quarter's $0.65 per diluted share and a 3% decrease from the same quarter last year's $0.75 per diluted share.

The company's net interest income stood at $168 million for the quarter, compared to $161 million in the previous quarter, marking a 4% increase. The net interest margin also saw an improvement, reaching 2.69% for the quarter, up from 2.55% in the previous quarter. Additionally, non-performing assets increased to $26 million, accounting for 0.36% of total assets, compared to 0.26% in the previous quarter.

WAFD also highlighted its shareholder returns and stock activity, noting that it paid a cash dividend of $0.27 per share and repurchased 1,662,508 shares during the quarter at a weighted average price of $29.08 per share.

The company's balance sheet showed a decrease in total assets to $26.7 billion as of June 30, 2025, compared to $28.1 billion at September 30, 2024. The reduction was primarily due to a decrease in loans receivable and cash used to reduce borrowings and purchase investments during the period.

Regarding credit quality, non-performing assets increased to $97 million, or 0.36% of total assets, from $77 million, or 0.28%, at September 30, 2024. Delinquent loans slightly increased to 0.26% of total loans at June 30, 2025, compared to 0.25% at September 30, 2024, but improved compared to 0.27% at March 31, 2025.

In terms of profitability, net interest income increased to $168 million for the quarter, representing a 4% increase from the previous quarter. The company also recorded a $2.0 million provision for credit losses in the third fiscal quarter of 2025, compared to a provision of $2.8 million in the previous quarter.

As a result of these announcements, the company's shares have moved -0.03% on the market, and are now trading at a price of $29.73. If you want to know more, read the company's complete 8-K report here.

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