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. reports recurring developments for WaFd Bank, a federally insured Washington state chartered commercial bank serving consumer, commercial, small- to middle-market, commercial real estate, and residential real estate customers. The bank operates in Washington, Oregon, Idaho, Utah, Nevada, Arizona, Texas, New Mexico, and California and also offers insurance products through a subsidiary.
Company news commonly covers quarterly earnings, net interest income and margin, deposit mix, credit quality, dividends, share repurchase authorization, and capital returns. Updates also include board and regional leadership changes, Community Reinvestment Act matters, investor presentations, and partnerships tied to WaFd Bank’s banking infrastructure and community-focused services.
Washington Federal reported a net income of $50.3 million for Q1 2022, a 29% increase from the previous year. The earnings per share rose by 39% to $0.71 compared to $0.51 in Q1 2021. Strong performance was driven by a robust loan growth of $759 million, totaling $2.13 billion in originations. The bank exited a BSA Consent Order with regulators and launched improved digital banking platforms. Total assets climbed to $20 billion, and customer deposits increased by $360 million.
Washington Federal Bank, also known as WaFd Bank, announced that the Office of the Comptroller of the Currency (OCC) has terminated the February 2018 consent order related to Anti-Money Laundering and Bank Secrecy Act deficiencies, effective December 17, 2021. CEO Brent Beardall highlighted the achievement as a validation of the team's efforts to enhance their compliance program. The bank operates 219 branches across several states, primarily engaging in deposit acceptance and various loan types.
Washington Federal, Inc. (Nasdaq: WAFD) has declared a quarterly cash dividend of 23 cents per share, set to be paid on November 19, 2021, to shareholders on record as of November 5, 2021. This marks the 155th consecutive quarterly dividend for the company. As of September 30, 2021, Washington Federal reported $19.7 billion in assets, $15.5 billion in deposits, and $2.1 billion in shareholders’ equity. The dividend reflects the company's ongoing commitment to returning capital to its investors.
Washington Federal, Inc. (WAFD) reported annual earnings of $183.6 million for FY ended September 30, 2021, up 5.8% from $173.4 million in FY 2020. Net income per share increased to $2.39, and return on shareholders' equity rose to 8.69%. Total assets grew 4.6% to $19.7 billion, with customer deposits rising 12.8% to $15.5 billion. The bank achieved record loan originations of $8.2 billion and reduced Federal Home Loan Bank borrowings by 36.3%. Despite strong performance, management remains cautious about potential economic downturns.
Washington Federal Bank, known as WaFd Bank, has agreed to pay a $2.5 million civil money penalty to the Office of the Comptroller of the Currency (OCC) for anti-money laundering deficiencies stemming from a February 2018 Consent Order. This payment is seen as a significant step towards resolving the Consent Order, which remains active. WaFd Bank has expressed its commitment to enhancing its AML/BSA program, emphasizing compliance and cooperation with the OCC.
Washington Federal, Inc. (Nasdaq: WAFD) has announced a quarterly cash dividend of 23 cents per share, payable on August 20, 2021, to shareholders of record by August 6, 2021. This marks the 154th consecutive quarterly cash dividend for the company. As of June 30, 2021, Washington Federal operates 224 branches across several states, reporting $19.6 billion in assets, $15.2 billion in deposits, and $2.2 billion in shareholders’ equity. The bank, founded in 1917, offers a range of consumer and commercial banking services.
Washington Federal, Inc. (WAFD) reported quarterly earnings of $47.42 million for the period ending June 30, 2021, a 36% increase from $34.85 million year-over-year. Net income per diluted share rose to $0.61, up from $0.46, reflecting a 33% increase. Return on equity improved to 8.71% from 7.01%, and assets reached $19.6 billion. Deposits grew by $1.5 billion or 10.6%, with transaction accounts rising 19.3%. Operating expenses increased due to higher compensation costs, but the bank's net interest margin improved to 2.82%. Credit quality remained stable with low non-performing assets.
Washington Federal, Inc. (Nasdaq: WAFD) announces board succession planning, with Chair Thomas Kelley and Dr. Barbara Smith not seeking re-election in January 2022. Stephen Graham will become Chairman after the annual meeting. The board expands to 12 members, adding Sylvia Hampel, Sean Singleton, and Shawn Bice, effective July 1, 2021. Bice, with over 20 years in tech leadership, aims to enhance WaFd's digital-first strategy. Hampel brings extensive business experience, while Singleton's capital markets background strengthens the bank's strategy for improved client experiences.
Washington Federal, Inc. (Nasdaq: WAFD) announced a quarterly cash dividend of 23 cents per share, to be paid on May 21, 2021. This marks the company's 153rd consecutive quarterly dividend. As of March 31, 2021, the bank reported $19.5 billion in assets, $14.8 billion in deposits, and $2.3 billion in shareholders’ equity. The bank operates 232 branches across several states, focusing on consumer and commercial financial services.
Washington Federal reported quarterly earnings of $44.87 million for the quarter ending March 31, 2021, a 23% increase from $36.38 million the previous year. Net income per diluted share rose 19% to $0.56. The bank grew loans outstanding by 9%, totaling $1.1 billion, with a 60% increase in loan originations. Total deposits surged 22.6% to $14.8 billion. The bank also issued $300 million in preferred stock and recorded net recoveries of $2.5 million, reflecting strong asset quality. Return on equity improved to 8.17%.