---
schema_version: "secwatch.filing_event.v1"
accession: "0000936528-24-000067"
form_type: "8-K"
ticker: "WAFD"
cik: "0000936528"
company_name: "WAFD INC"
filed_at: "2024-04-23T23:59:59+00:00"
generated_at: "2026-06-03T13:20:43.085170+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# WaFd Q2 net income drops 73% QoQ to $15.9M; EPS $0.17, merger costs $51.1M

## Summary
- Net income $15.9M, down 73% from $58.5M in prior quarter; diluted EPS $0.17 vs $0.85.
- Merger-related and non-operating costs totaled $51.1M; adjusted ROE 8.7% vs 10.21% prior quarter.
- Net interest margin fell to 2.73% from 2.91%; average interest-earning assets $23.3B.
- Completed merger with Luther Burbank Corporation; loans added $6.4B, total loans $20.8B net.
- Fact sheet: total assets $24.9B, deposits $21.3B, non-performing assets $68.4M (0.23% of assets).

## SEC filing metadata
- accession: 0000936528-24-000067
- form_type: 8-K
- ticker: WAFD
- cik: 0000936528
- company_name: WAFD INC
- filed_at: 2024-04-23T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/936528/000093652824000067/0000936528-24-000067-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/936528/000093652824000067/wfsl-20240422.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000936528-24-000067
- JSON: https://secwatch.observer/filing/0000936528-24-000067.json
- Plain text: https://secwatch.observer/filing/0000936528-24-000067.txt

## Key facts
- Earnings Releases
  WAFD INC reported the quarter ended March 31, 2024 results: net income $15,888,000, EPS $0.17 per diluted share.
  - Period: the quarter ended March 31, 2024
  - Net income: $15,888,000
  - EPS: $0.17 per diluted share
  - Result: reported results
  source text: Earnings for the quarter ended March 31, 2024 were $15,888,000, a decrease of 73% from net earnings of $58,453,000 for the quarter ended December 31, 2023 and a decrease of 76% from net earnings of $65,934,000 for the quarter ended March 31, 2023. After the effect of dividends on preferred stock, net income available for common shareholders was $0.17 per diluted share for the quarter ended March 31, 2024, compared to $0.85 per diluted share for the quarter ended December 31, 2023, a $0.68 or 80% decrease, and $0.95 per diluted share for the quarter ended March 31, 2023, a $0.78 or 82% decrease in fully diluted earnings per common share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/936528/000093652824000067/0000936528-24-000067-index.htm

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