WAFD Inc. Files Q1 2025 10-Q Report
Ticker: WAFDP · Form: 10-Q · Filed: Feb 4, 2025 · CIK: 936528
| Field | Detail |
|---|---|
| Company | Wafd Inc (WAFDP) |
| Form Type | 10-Q |
| Filed Date | Feb 4, 2025 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $1.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, banking
TL;DR
WAFD Inc. 10-Q filed for Q1 2025. Financials are in.
AI Summary
WAFD Inc. filed its 10-Q report for the period ending December 31, 2024. The company, a national commercial bank, is headquartered at 425 Pike Street, Seattle, WA. The filing covers the first quarter of their fiscal year 2025.
Why It Matters
This 10-Q filing provides investors and analysts with an update on WAFD Inc.'s financial performance and position for the first quarter of fiscal year 2025.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing and does not inherently present new risks.
Key Numbers
- 20241231 — Period End Date (The end date for the reporting period covered by the 10-Q.)
- 20250204 — Filing Date (The date the 10-Q was officially filed with the SEC.)
Key Players & Entities
- WAFD INC (company) — Filer of the 10-Q report
- 425 PIKE STREET SEATTLE WA 98101 (company) — Business address
- 20241231 (date) — Period of report
- 20250204 (date) — Filing date
FAQ
What is the primary business of WAFD Inc.?
WAFD Inc. is a national commercial bank, as indicated by its Standard Industrial Classification code [6021].
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20241231, meaning the filing covers financial information up to December 31, 2024.
When was this 10-Q filed?
This 10-Q was filed on 20250204.
What is the company's fiscal year end?
WAFD Inc.'s fiscal year ends on 0930.
What was the company's former name and when did it change?
The company was formerly known as WASHINGTON FEDERAL INC, with a name change date of 20230928, and also formerly known as WAFD INC with a name change date of 20230927.
Filing Stats: 4,506 words · 18 min read · ~15 pages · Grade level 16.2 · Accepted 2025-02-04 17:15:41
Key Financial Figures
- $1.00 — nge on which registered Common Stock, $1.00 par value per share WAFD NASDAQ Stock
Filing Documents
- wfsl-20241231.htm (10-Q) — 3557KB
- wafd10-qex31112312024.htm (EX-31.1) — 10KB
- wafd10-qex31212312024.htm (EX-31.2) — 11KB
- wafd10-qex3212312024.htm (EX-32) — 7KB
- 0000936528-25-000040.txt ( ) — 18702KB
- wfsl-20241231.xsd (EX-101.SCH) — 59KB
- wfsl-20241231_cal.xml (EX-101.CAL) — 171KB
- wfsl-20241231_def.xml (EX-101.DEF) — 442KB
- wfsl-20241231_lab.xml (EX-101.LAB) — 823KB
- wfsl-20241231_pre.xml (EX-101.PRE) — 666KB
- wfsl-20241231_htm.xml (XML) — 4749KB
Financial Statements (Unaudited)
Financial Statements (Unaudited) The Consolidated Financial Statements of WaFd, Inc. and Subsidiaries filed as a part of the report are as follows: Consolidated Statements of Financial Condition as of December 31, 2024 and September 30, 2024 3 Consolidated Statements of Operations for the three months ended December 31, 2024 and December 31, 2023 4 Consolidated Statements of Comprehensive Income for the three months ended December 31, 2024 and December 31, 2023 5 Consolidated Statements of Shareholders' Equity for the three months ended December 31, 2024 and December 31, 2023 6 Consolidated Statements of Cash Flows for the three months ended December 31, 2024 and December 31, 2023 7 Notes to Interim Consolidated Financial Statements 9 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 44 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 57 Item 4.
Controls and Procedures
Controls and Procedures 57 PART II Item 1.
Legal Proceedings
Legal Proceedings 58 Item 1A.
Risk Factors
Risk Factors 58 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 58 Item 3. Defaults Upon Senior Securities 59 Item 4. Mine Safety Disclosures 59 Item 5. Other Information 59 Item 6. Exhibits 60
Signatures
Signatures 61 2 Table of Contents WAFD, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED) December 31, 2024 September 30, 2024 (In thousands, except share data) ASSETS Cash and cash equivalents $ 1,507,735 $ 2,381,102 Available-for-sale securities, at fair value 2,743,731 2,572,709 Held-to-maturity securities, at amortized cost 537,348 436,972 Loans receivable, net of allowance for loan losses of $ 204,522 and $ 203,753 21,060,501 20,916,354 Interest receivable 103,147 102,827 Premises and equipment, net 248,924 247,901 Real estate owned 3,316 4,567 FHLB stock 128,396 95,617 Bank owned life insurance 269,473 267,633 Intangible assets, including goodwill of $ 414,723 and $ 411,360 449,213 448,425 Deferred tax assets, net 111,830 119,248 Other assets 520,840 466,975 $ 27,684,454 $ 28,060,330 LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities Customer accounts Transaction deposit accounts $ 11,853,859 $ 11,817,185 Time deposit accounts 9,584,918 9,556,785 21,438,777 21,373,970 Borrowings 2,863,675 3,267,589 Junior subordinated debentures 50,952 50,718 Advance payments by borrowers for taxes and insurance 20,188 61,330 Accrued expenses and other liabilities 289,226 306,423 24,662,818 25,060,030 Commitments and contingencies (see Note I ) Shareholders' equity Preferred stock, $ 1.00 par value, 5,000,000 shares authorized; 300,000 and 300,000 shares issued; 300,000 and 300,000 shares outstanding 300,000 300,000 Common stock, $ 1.00 par value, 300,000,000 shares authorized; 154,247,734 and 154,007,429 shares issued; 81,373,760 and 81,220,269 shares outstanding 154,248 154,007 Additional paid-in capital 2,154,929 2,150,675 Accumulated other comprehensive income (loss), net of taxes 53,353 55,851 Treasury stock, at cost; 72,873,974 and 72,787,160 shares ( 1,642,480 ) ( 1,639,131 ) Retained earnings 2,001,586 1,978,898 3,021,636 3,000,300 $ 27,684,454 $ 28,060,330 SEE NOTES TO INTERIM CONSOL