---
schema_version: "secwatch.filing_event.v1"
accession: "0000936528-25-000031"
form_type: "8-K"
ticker: "WAFD"
cik: "0000936528"
company_name: "WAFD INC"
filed_at: "2025-01-21T23:59:59+00:00"
generated_at: "2026-05-27T22:51:26.326406+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000936528-25-000031
- form_type: 8-K
- ticker: WAFD
- cik: 0000936528
- company_name: WAFD INC
- filed_at: 2025-01-21T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/936528/000093652825000031/0000936528-25-000031-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/936528/000093652825000031/wfsl-20250116.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000936528-25-000031
- JSON: https://secwatch.observer/filing/0000936528-25-000031.json
- Plain text: https://secwatch.observer/filing/0000936528-25-000031.txt

## Key facts
- Executive change
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/936528/000093652825000031/0000936528-25-000031-index.htm

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