WaFd, Inc.

WaFd has declared a quarterly cash dividend of $0.27 per share, in line with the previous payout. The dividend is payable on September 4 to shareholders of record as of August 21, with the ex-dividend date also set for August 21. The forward yield is 2.84%, and the company has now announced a dividend of $0.27 for seven consecutive quarters.

WaFd, Inc. reported net income available to common shareholders of $62.5 million or $0.84 per diluted share for the quarter ended June 30, 2026, and said it is targeting 8% to 12% growth in its active loan portfolio going forward. President, CEO and Vice Chairman Brent Beardall highlighted that loan growth was concentrated in business lending, with commercial and industrial loans being the biggest contributor from a percentage standpoint, and tied the strategy to the company's Build 2030 plan. Executive Vice President and CFO Kelli Holz stated that absent any changes in interest rates, the net interest margin is expected to be relatively flat for the next quarter, while noting that $160 million of deferred income from the Luther Burbank acquisition is being accreted into income at a rate of $6 million to $7 million per quarter. Nonperforming assets increased slightly to $136 million or 0.49% of total assets from $132 million or 0.48% at March 31, 2026, and the net provision for credit losses in the quarter was $11 million. Management also discussed potential capital relief from proposed Basel III Endgame revisions, which could reduce risk-weighted assets by approximately 12.5% and represent an estimated $300 million of total risk-based capital relief, with implementation possible by the end of this calendar year.

WaFd posted stronger fiscal third-quarter earnings with net income of $62.5 million, or $0.84 per diluted share, up from $0.73 a year earlier. The improvement was driven by modestly higher net interest income and non-interest income, along with controlled expenses. Loan growth returned for a second straight quarter, with active portfolios up 10% sequentially and C&I lending leading the way. Loan growth outpaced repayments, even as deposit competition remained intense and total deposits fell by $192 million. Credit quality showed some pressure but remained manageable, as criticized loans rose to 4.9% of net loans and the bank booked an $11 million provision for credit losses. WaFd also highlighted strong capital levels and said it remains disciplined on buybacks and M&A while pursuing its Build 2030 deposit and business-lending goals.

WaFd Bank reported first-quarter revenues of $198.3 million, up 10.5% year on year and 4% above analyst expectations, with beats on net interest income and EPS. The broader group of 12 thrifts and mortgage finance stocks tracked delivered mixed results, with aggregate revenues beating consensus by 4.2% but next-quarter guidance coming in 6.6% below estimates. Rocket Companies posted the fastest revenue growth at 108% to $2.82 billion, while Franklin BSP Realty Trust had the weakest quarter, missing revenue estimates by 17.4%. Ellington Financial achieved the largest analyst estimate beat at 55.1% on revenues of $171.3 million, and Northwest Bancshares edged past expectations with a 0.8% revenue beat to $175.1 million.