---
schema_version: "secwatch.filing_event.v1"
accession: "0000936528-23-000173"
form_type: "8-K"
ticker: "WAFD"
cik: "0000936528"
company_name: "WAFD INC"
filed_at: "2023-10-18T23:59:59+00:00"
generated_at: "2026-06-09T22:18:42.984040+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# WaFd reports record FY2023 EPS $3.72 (+10% YoY) but $40M net charge-off on one commercial loan

## Summary
- Annual net income $257.4M, EPS $3.72, up from $3.39; ROA 1.18% vs 1.17%.
- Net interest margin compressed each quarter to 3.13% in Sept; month of Sept margin 3.10%.
- Recorded $41.5M provision for credit losses vs $3M prior year; net charge-offs $45.1M (one $40M commercial loan).
- Uninsured deposits decreased to 25.7% from 30.3% YoY; total deposits up 0.3% to $16.1B.
- Merger with Luther Burbank: Washington state regulator approved; still needs FDIC and Fed approval.

## SEC filing metadata
- accession: 0000936528-23-000173
- form_type: 8-K
- ticker: WAFD
- cik: 0000936528
- company_name: WAFD INC
- filed_at: 2023-10-18T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/936528/000093652823000173/0000936528-23-000173-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/936528/000093652823000173/wfsl-20231017.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000936528-23-000173
- JSON: https://secwatch.observer/filing/0000936528-23-000173.json
- Plain text: https://secwatch.observer/filing/0000936528-23-000173.txt

## Key facts
- Earnings Releases
  WAFD INC reported the fiscal year ended September 30, 2023 results: net income $257,426,000, EPS $3.72 per share.
  - Period: the fiscal year ended September 30, 2023
  - Net income: $257,426,000
  - EPS: $3.72 per share
  - Result: reported results
  source text: WaFd, Inc. (Nasdaq: WAFD) (the "Company"), parent company of WaFd Bank (the "Bank"), today announced record annual earnings of $257,426,000 for the fiscal year ended September 30, 2023, an increase of $21,096,000 from earnings of $236,330,000 for the year ended September 30, 2022. After the effect of dividends on preferred stock, net income available for common shareholders was $3.72 per share for the fiscal year ended September 30, 2023, a $0.33 or 9.7% increase from $3.39 for the prior fiscal year.
  evidence_url: https://www.sec.gov/Archives/edgar/data/936528/000093652823000173/0000936528-23-000173-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.