Q4 2025 WaFd Inc Earnings Call Transcript
Key Points
- WaFd Inc (WAFD) reported a net income available to common shareholders of $56.9 million or $0.72 per diluted share for the quarter, showing stability compared to previous quarters.
- Loan originations for the quarter outpaced repayments and payoffs for the first time this fiscal year, with originations of $1.4 billion.
- Deposits increased by $51 million during the quarter, with non-interest-bearing deposits increasing by $80 million or 3.2%.
- WaFd Inc (WAFD) has a strong liquidity and capital profile with a robust core funding base and low reliance on wholesale borrowings.
- The company has launched WaFd Wealth Management, aiming to grow assets under management to $1 billion in the first two years, indicating a strategic expansion into wealth management.
- Earnings per share decreased by 1% for the quarter due to modest increases in non-interest expense.
- Loans receivable decreased by $188 million during the quarter, primarily due to a decrease in inactive loan types.
- Delinquent loans increased to 0.6%, up 34 basis points compared to the previous quarter.
- Non-performing assets increased by $46 million in the quarter, representing 0.54% of total assets.
- The company faces challenges in profitability compared to peers, with a lower return on assets and return on tangible common equity.
Good day and thank you for standing by. Welcome to the WaFd 4th quarter and fiscal year 2025 results call. (operator instructions) I would like to end this conference over to your speaker today, Brad Good. Please go ahead.
Thank you, Kevin. Good morning, everybody. We are excited to have you all attending our first ever earnings conference call. We have listened to the feedback from many of you requesting that we hold a call like this. We've heard you, and so here we are.
Let's dive into our 2025 4th quarter and full year earnings report. You can find our earnings press release along with our detailed fact sheet and investor scorecard on our website. I'm sure you all know where that is, swaedbank.com.
During today's call, we will make some forward-looking statements which are subject to risks and uncertainties and are intended to be covered by the safe harbor provisions of Federal securities law.
Information on risk factors that could cause actual results to differ
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