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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 record annual earnings of $236.33 million for the fiscal year ending September 30, 2022, a 41.8% increase from $183.62 million in 2021. Net income per share rose to $3.39 from $2.39. Loan growth surged by 17% to $16.1 billion, with net interest margin improving 26% to 3.64%, the highest since 2005. The efficiency ratio also improved to 50%. However, operating expenses increased 7.9% to $359 million. Overall, the company maintained a strong credit quality, posting net recoveries for the ninth consecutive year.
Washington Federal, Inc. (Nasdaq: WAFD) announced the promotion of Dan LaCoste to lead its operations in Southern Oregon. Under his leadership, the bank's commercial loan portfolio grew by nearly $250 million, alongside a deposit increase of over $160 million. LaCoste, a seasoned banker with 25 years of experience, emphasizes a servant leadership approach. WaFd Bank's CEO, Brent Beardall, expressed confidence in LaCoste's ability to foster client relationships and drive growth in the region.
Washington Federal, Inc. (WAFD) has announced the promotion of Kelli Holz to Chief Financial Officer effective January 1, 2023. Holz, who has 34 years of finance and risk experience, takes over from retiring CFO Vincent Beatty. She previously served as controller and interim CFO at Horizon Bank before its acquisition by Washington Federal Bank in 2010. Holz aims to enhance financial reporting and controls at WaFd Bank, which operates 209 branches and reported $20.2 billion in assets as of June 30, 2022.
Washington Federal, Inc. (Nasdaq: WAFD) announced a quarterly cash dividend of 24 cents per share, payable on September 2, 2022, to shareholders of record by August 19, 2022. This marks the company's 158th consecutive quarterly cash dividend. As of June 30, 2022, Washington Federal operated 209 branches, reporting $20.2 billion in assets, $16.0 billion in deposits, and $2.2 billion in shareholders’ equity.
Washington Federal, Inc. (WAFD) reports a robust quarterly earnings of $63.3 million for Q3 2022, marking a 33.5% increase from $47.4 million in Q3 2021. Net income per diluted share rose 49.2% to $0.91. Return on equity improved to 12.50% from 8.71%. The net interest margin expanded to 3.22%. Loan originations reached a record $2.74 billion, with net loans up 15.6%. Customer deposits increased 2.7% to $16.0 billion. Despite macroeconomic challenges, the company maintains strong asset quality.
The Board of Directors of Washington Federal has declared a quarterly cash dividend of 24 cents per share, payable on June 3, 2022, to shareholders of record as of May 20, 2022. This marks the 157th consecutive quarterly cash dividend for the company. As of March 31, 2022, Washington Federal reported $20.6 billion in assets, $16.4 billion in deposits, and $2.2 billion in shareholders’ equity, reflecting its robust financial position.
Washington Federal, Inc. (Nasdaq: WAFD) has promoted Todd Gerber to lead its Arizona operations, enhancing the bank's presence in the state. Gerber joined WaFd Bank in 2019 and has significantly increased commercial loan balances by 90% from 2020 to 2021. His extensive experience spans 28 years in various industries. President Brent Beardall praised Gerber for his ability to understand and fulfill client needs in Arizona. WaFd Bank operates more than 200 branches across eight western states, focusing on customer satisfaction and tailored financial solutions.
Washington Federal, Inc. (Nasdaq: WAFD) has partnered with Plaid to enhance financial solutions for its clients. This collaboration allows WaFd Bank customers to securely access their banking data across over 6,000 applications through Plaid's API integration. The initiative aims to provide a seamless banking experience, empowering customers to manage their finances confidently. CEO Brent Beardall emphasized the bank's commitment to reliable digital tools, showcasing this partnership as part of their ongoing investment in modern banking capabilities.
Washington Federal, Inc. (Nasdaq: WAFD) reported quarterly earnings of $49.4 million for the quarter ended March 31, 2022, reflecting a 10% increase from the previous year. Net income per diluted share rose 25% to $0.70 compared to $0.56 in 2021. Total assets grew to $20.6 billion due to a $2 billion increase in loans. Customer deposits reached $16.4 billion, up 5.5%. The company noted concerns over inflation and potential credit cycles but remains optimistic about its position. The efficiency ratio improved to 58.7%, and net interest margin rose to 2.90%.
Washington Federal, Inc. (Nasdaq: WAFD) has announced the promotion of Doron Joseph to Regional President for Nevada, marking a significant leadership change aimed at expanding the bank's commercial banking presence. Joseph, who joined WaFd Bank in 2019, has a proven track record, with 25 years of experience in finance and a notable increase in loans (193%) and deposits (54%) in Nevada over the last five years. The bank's CEO praised Joseph's contributions and anticipates continued growth under his leadership.
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