WaFd Inc. (Nasdaq: WAFD) announced its fiscal year 2026 earnings results on October 15, 2026, reporting a 22% increase in diluted earnings per share (EPS) compared to the prior year. The company reported net income available for common shareholders of $3.21 per diluted share for the fiscal year ended September 30, 2026, up from $2.63 per share in fiscal year 2025. Total net income for the year was $255.9 million, representing a 13% increase over the $226.1 million reported in fiscal year 2025.
For the fourth quarter of fiscal 2026, the company reported net income of $59.99 million, or $0.76 per diluted share. This represents a decrease of 9% compared to the prior quarter. The company noted that the quarter-over-quarter decline was driven by a $36 million charge-off related to the resolution of a large classified loan, which was offset by a $16.4 million gain on the sale of single-family residential loans.
Asset quality metrics improved during the quarter. Non-performing assets decreased to $86 million, or 0.32% of total assets, a 37% reduction from the prior quarter end. Delinquencies also decreased to 0.50% of total loans, down from 0.75% at the end of the previous quarter. The company recorded a provision for credit losses of $20.0 million for the fourth quarter.
On the balance sheet, total assets grew to $27.2 billion as of September 30, 2026, driven by the purchase of investment securities. The company sold $543 million of single-family residential loans during the quarter and entered into an agreement to sell $429 million of multifamily loans in the first quarter of fiscal 2027. Transaction deposits increased by 4.6% year-over-year to $12.9 billion.
WaFd also announced the EverBank merger on September 7, 2026. The company repurchased 4,703,844 shares of common stock during the fiscal year at a weighted average price of $31.00. The company will host a conference call for investors on October 16, 2026, at 7:00 a.m. PDT.
