secwatch.observer — SEC 8-K summary
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Issuer:     WAFD INC (WAFD)
CIK:        0000936528
Form:       8-K
Filed at:   2023-10-18T23:59:59+00:00
Accession:  0000936528-23-000173
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/936528/000093652823000173/0000936528-23-000173-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/936528/000093652823000173/wfsl-20231017.htm
  HTML page:      https://secwatch.observer/filing/0000936528-23-000173

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