WaFd Q1 EPS $0.54 (down 24% QoQ); net income $47.3M; exits single-family mortgage origination

WAFD INC

2025-Q1 EPS reported $0.54 revenue$7,046,000

Net income $47.3M, down 23% from $61.1M in Q4 FY24; diluted EPS $0.54 vs $0.71.
Net interest margin fell to 2.39% from 2.62% QoQ; net interest income $155M (down 10% QoQ).
Adjusted EPS $0.62 excluding $5.4M restructuring charges related to mortgage exit and other items.
EVP James Endrizzi transitions to non-executive role; forfeits 37,841 RSUs and FY25 bonus.
Bank stops originating single-family mortgages and HELOCs; will continue to hold existing loans.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

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Role change

James Endrizzi

Senior Vice President and Regional Director of Commercial Real Estate Banking

WAFD · WAFD INC

Effective: 2025-01-16
Filed: January 21, 2025, 6:59 PM ET

Mr. James Endrizzi, Executive Vice President and Chief Commercial Banker of WaFd, Inc. and its banking subsidiary, WaFd Bank, will be transitioning to a new role as the Senior Vice President and Regional Director of Commercial Real Estate Banking for Utah and Idaho, where he will focus on commercial real estate lending in the Utah and Idaho regions.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

James Endrizzi changed role as Senior Vice President and Regional Director of Commercial Real Estate Banking at WAFD INC.

Action: transitioned
Role: Senior Vice President and Regional Director of Commercial Real Estate Banking

Exact text from the filing

Mr. James Endrizzi, Executive Vice President and Chief Commercial Banker of WaFd, Inc. and its banking subsidiary, WaFd Bank, will be transitioning to a new role as the Senior Vice President and Regional Director of Commercial Real Estate Banking for Utah and Idaho, where he will focus on commercial real estate lending in the Utah and Idaho regions.

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WAFD INC filing history →

Source: SEC EDGAR

accession 0000936528-25-000031

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