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WaFd, Inc. (symbol: WAFD) is a well-established financial institution that has been serving communities since its founding in 1917. Originally founded as Ballard Savings and Loan Association in a fishing and lumber community just north of Seattle, Washington, WaFd has grown significantly over the past century. The company now operates in eight western states, including Washington, Arizona, Idaho, Nevada, Oregon, Texas, Utah, and New Mexico, providing an array of banking services tailored to meet the needs of both individuals and businesses.
WaFd offers a variety of personal banking services, such as checking and savings accounts, retirement accounts, and home loans. For businesses, WaFd provides comprehensive banking solutions including corporate real estate financing. The company's strong emphasis on personalized service ensures that customers receive the attention and expert advice they need, avoiding the impersonal approach often associated with larger banks.
WaFd’s disciplined and common-sense approach to banking has stood the test of time, making it one of the strongest financial institutions in America. The company prides itself on its century-long commitment to providing friendly and professional service without the hassle of phone trees or other modern inconveniences.
In recent years, WaFd has made significant strides in expanding its services and footprint. The bank's latest projects and partnerships are geared towards enhancing its offerings and reaching more customers. Financially, WaFd remains robust, continuing to deliver strong performance metrics and maintaining a healthy balance sheet.
Whether you are a consumer looking for reliable personal banking services, a business seeking comprehensive financial solutions, or an investor tracking the company's performance, WaFd, Inc. demonstrates a strong commitment to customer satisfaction and financial stability.
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.
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