Q3 2026 WaFd Inc Earnings Call Transcript
Key Points
- WaFd Inc (WAFD) reported a net income available to common shareholders of $62.5 million or $0.84 per diluted share, showing an increase from $0.73 per share in the third quarter of fiscal 2025.
- The company achieved a 23% total shareholder return for the quarter, indicating strong market performance.
- Loan originations outpaced repayments, with $1.5 billion in originations compared to $1 billion in repayments, demonstrating robust loan growth.
- The efficiency ratio improved to 53.7% from 55.7% in the prior quarter, reflecting better cost management.
- WaFd Inc (WAFD) has a strong capital profile with an estimated CET1 ratio of 11.4% and a total risk-based capital ratio of 14.4%.
- Total deposits decreased by $192 million during the quarter, with interest-bearing deposits and time deposits both declining.
- Criticized loans increased by $139 million, representing 4.9% of net loans, indicating rising credit risk concerns.
- Nonperforming assets increased slightly to $136 million, largely due to increased nonaccrual loans in the C&I segment.
- The net provision for credit losses was $11 million, reflecting concerns related to possible losses on adversely classified loans.
- The competition for deposits is intense, leading to increased rates to maintain deposit levels, which could pressure margins.
Good day, and welcome to WaFd, Inc.'s third-quarter fiscal 2026 results conference call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the call over to Brad Goode, Chief Marketing Officer and Investor Relations Manager. Please go ahead.
Thank you, Michelle. Good morning, everybody. Thanks for joining us. Let's dive into our 2026 third-quarter earnings report. You can find our earnings press release, along with our detailed fact sheet and investor scorecard on our website at wafdbank.com.
During today's call, we'll make 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 are available from the earnings press release that was released yesterday and the Form 10-K for the fiscal year ended September 30, 2025. Forward-looking statements are
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