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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. (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.
Washington Federal Bank has successfully transitioned from a national bank charter to a Washington state chartered commercial bank. The change allows for primary supervision by the Washington State Department of Financial Institutions and the FDIC. The bank, now legally named Washington Federal Bank, aims to save approximately $500,000 in operating expenses annually. CEO Brent J. Beardall emphasized the benefits of local regulation for community support and shareholder returns, noting that daily operations will remain unaffected.
Washington Federal, Inc. (Nasdaq: WAFD) has declared a quarterly cash dividend of 24 cents per share, scheduled for payment on February 18, 2022, to shareholders of record as of February 4, 2022. This dividend marks the company's 156th consecutive quarterly cash dividend. In board changes following the recent Annual Meeting, Stephen Graham has been appointed as Chairman, with Brent Beardall becoming Vice-Chairman. As of December 31, 2021, Washington Federal reported $20.0 billion in assets and $2.1 billion in shareholders’ equity.
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.
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