WaFd Q1 EPS $0.85, down 27% YoY; net interest margin falls to 2.91%

WAFD INC

2024-Q1 EPS reported $0.85 revenue$6,802,000

Net income $58.5M, up 16% QoQ but down 26% YoY; diluted EPS $0.85 vs $1.16 YoY.
Net interest margin 2.91% vs 3.69% YoY; net interest income $152M, down 16.7% YoY.
Loan originations $0.9B, halved from $2.0B YoY; net recoveries of $113K vs net charge-offs in prior quarters.
Tangible book value per share $28.65, up 2.1% QoQ; credit remains strong with NPAs at 0.24% of assets.
Merger with Luther Burbank expected to close this quarter; share repurchases 697,893 shares at $24.45.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

WAFD INC reported the quarter ended December 31, 2023 results: net income $58,453,000, EPS $0.85 per diluted share.

Period: the quarter ended December 31, 2023
Net income: $58,453,000
EPS: $0.85 per diluted share
Result: reported results

Exact text from the filing

net income available for common shareholders was $0.85 per diluted share for the quarter ended December 31, 2023

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Source: SEC EDGAR

accession 0000936528-24-000031

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