WaFd Q1 net income $47.3M, down 19% YoY; NPA ratio 0.29%; dividend $0.26 quarterly

WAFD INC

Q1 FY2025 net income $47.3M ($43.6M to common), down from $58.5M in prior-year quarter.
Efficiency ratio 65.04% (adjusted 60.4%), impacted by restructuring costs from LBC merger.
Non-performing assets 0.29% of total assets; ACL covers 259% of NPAs.
Total deposits $21.4B, uninsured/uncollateralized deposits at 24.8%; cash & securities 17% of assets.
Common dividend $0.26/share (3.42% yield); 1.07M shares repurchased in FY24 at avg $25.29.

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