secwatch.observer — SEC 8-K summary
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Issuer:     WAFD INC (WAFD)
CIK:        0000936528
Form:       8-K
Filed at:   2024-01-18T23:59:59+00:00
Accession:  0000936528-24-000031
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/936528/000093652824000031/0000936528-24-000031-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/936528/000093652824000031/wfsl-20240116.htm
  HTML page:      https://secwatch.observer/filing/0000936528-24-000031

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