Welcome to our dedicated page for Washington Fed news (Ticker: WAFD), a resource for investors and traders seeking the latest updates and insights on Washington Fed stock.
WaFd, Inc. (Nasdaq: WAFD) is the parent company of WaFd Bank, a Washington state chartered commercial bank headquartered in Seattle and operating branches across nine western states. The WAFD news feed on Stock Titan aggregates company press releases and other coverage so readers can follow developments affecting this regional banking organization and its customers.
Company news often centers on financial performance, with quarterly and annual earnings releases detailing net income, net interest income, net interest margin, non-interest income and expense, loan originations, deposit trends, and credit quality metrics such as non-performing assets and delinquency ratios. These updates also highlight balance sheet composition, including loans, deposits, borrowings, and investment securities, as well as capital measures like tangible common equity per share.
WaFd regularly announces board-approved cash dividends on its common stock and on its 4.875% Fixed Rate Series A Non-Cumulative Perpetual Preferred Stock through press releases and related Form 8-K filings. News items also cover share repurchase activity, changes in dividend levels, and other capital management actions that may be relevant to shareholders and prospective investors.
Beyond earnings and capital actions, WaFd news includes strategic and operational updates. Recent communications describe a shift in the bank’s business model away from originating new single-family mortgage loans and toward business banking and commercial real estate lending, as well as the build-out of small business and SBA lending capabilities. The bank has also announced its designation as a Preferred Lender with the U.S. Small Business Administration, leadership appointments in key regions, and organizational changes intended to support business and commercial real estate divisions.
Regulatory and compliance developments can also appear in WAFD news, such as disclosures about Community Reinvestment Act evaluations or the termination of historical consent orders. For readers tracking WAFD stock, this news page provides a centralized view of the company’s earnings, dividends, strategic direction, and regulatory disclosures over time.
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Washington Federal, Inc. (WAFD) reported a robust quarterly earnings increase of 33.6%, totaling $65.93 million for the quarter ending March 31, 2023, compared to $49.36 million a year prior. Net income per diluted share rose to $0.95, a 35.7% increase year-over-year. The company achieved a return on common equity of 12.0% and improved its return on assets to 1.2%. Despite facing challenges from bank failures in March 2023, WaFd Bank recorded net deposit inflows of $25 million during the month and maintained a solid capital position with only 27% of deposits uninsured. However, the bank's net interest margin declined to 3.51% from 3.69%, and it experienced its first quarterly net charge-off in nearly a decade. Overall, total assets increased to $22.3 billion driven by a 7.2% rise in net loans.
Washington Federal, Inc. (WAFD) has appointed Mark Borrecco as the new Regional President for California, bringing over 27 years of banking experience. Borrecco, previously President and CEO of Great Western Bank and Rabobank, is set to join WaFd as the bank prepares to acquire Luther Burbank Savings. His familiarity with California banking is expected to aid WaFd in establishing a presence in the state for the first time in its 105-year history. Both Borrecco and WaFd's CEO, Brent Beardall, expressed optimism about the future and the cultural fit of Borrecco's leadership within the company.
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Washington Federal, Inc. (Nasdaq: WAFD) has declared a regular quarterly cash dividend of 25 cents per share, set to be paid on March 10, 2023, to shareholders on record as of February 24, 2023. This marks the company's 160th consecutive quarterly cash dividend. As of December 31, 2022, Washington Federal reported $21.7 billion in assets, $16.0 billion in deposits, and $2.3 billion in shareholders' equity. The bank operates across eight states and has a strong commitment to providing financial services to various segments, including commercial and residential real estate.
Brent Beardall, President and CEO of Washington Federal (Nasdaq: WAFD), is recovering well from a plane crash in January. He is expected to be discharged from the University of Utah Health Rehabilitation Hospital on February 10, 2023, and return to his role at WaFd Bank on February 13, 2023. During his recovery, Executive VP Cathy Cooper has effectively led the bank, allowing it to post record quarterly earnings. Chairman Stephen Graham expressed gratitude for Beardall's recovery and anticipated return. WaFd Bank operates over 200 branches across eight western states, emphasizing its commitment to growth strategies.
Washington Federal reported quarterly earnings of $79.5 million, marking a 58% increase from the previous year. Net income available for common shareholders rose to $1.16 per diluted share, a 63% rise. Return on equity was 15.15%, while return on assets hit 1.50%. Loan growth was strong, increasing $880 million or 5.5%. The efficiency ratio improved to 46.8%. Total assets rose to $21.7 billion. The firm anticipates growth from its merger with Luther Burbank Corporation.