Wafd reported fiscal 2026 net income of $255.9 million, up from $226.1 million in fiscal 2025, while diluted earnings per common share rose to $3.21 from $2.63, a gain of 22%.
For the fourth quarter, net income was $60.0 million, down 9% from $66.1 million in the June quarter. Diluted EPS declined to $0.76 from $0.84.
Total assets increased to $27.23 billion at Sept. 30, 2026, from $26.70 billion a year earlier. The company’s securities portfolio grew to $4.94 billion from $4.18 billion, including available-for-sale securities of $4.05 billion versus $3.53 billion and held-to-maturity securities of $886.9 million versus $645.8 million.
Net loans fell to $19.04 billion from $20.09 billion a year earlier. The company said it sold $543 million of single-family residential loans during the September quarter and reclassified $429 million of multifamily loans as held for sale. Transaction deposits increased to $12.88 billion from $12.31 billion, while time deposits fell to $8.45 billion from $9.13 billion.
Borrowings climbed to $2.49 billion from $1.77 billion a year earlier. Total customer deposits were $21.32 billion, down slightly from $21.44 billion.
For the year, transaction deposits increased 4.6%, while active loan segments grew 7.9%. Loan originations for active loan types totaled $5.5 billion in fiscal 2026, up from $4.0 billion in fiscal 2025. Loan repayments on active loan types were $3.9 billion, compared with $5.1 billion a year earlier.
Net interest income in the fourth quarter was $182.4 million, up from $181.3 million in the prior quarter. Net interest margin held at 2.81%, unchanged from June.
Non-interest income increased to $38.1 million from $24.2 million, driven by a $16.4 million gain on the sale of single-family loans. Non-interest expense rose to $121.5 million from $110.3 million, pushing the efficiency ratio to 55.12% from 53.69%.
Credit metrics improved sharply from the June quarter. Non-performing assets fell to $86 million, or 0.32% of total assets, from $136 million, or 0.49%. Delinquent loans dropped to 0.50% of total loans from 0.75%, and non-accrual loans declined to 0.40% of net loans from 0.64%.
The allowance for credit losses was $215 million, down from $234 million in June. Net charge-offs jumped to $39.2 million in the quarter from $1.6 million in the prior quarter, including a $36 million charge-off tied to resolution of a previously classified loan relationship.
Tangible common equity per share increased to $30.51 at Sept. 30, 2026, from $29.38 a year earlier. During the year, the company repurchased 4.7 million shares at a weighted average price of $31.00. As a result of these announcements, the company's shares have moved 1.87% on the market, and are now trading at a price of $29.45. For the full picture, make sure to review WAFD INC's 8-K report.
