Question · Q4 2025
Kelli Motta asked about WaFd's ongoing technology investments and initiatives aimed at driving client growth and engagement to improve profitability, specifically what remains to be done. She also inquired if any end-of-period liquidity or dynamics might have skewed the higher end-of-period margin compared to the fiscal fourth-quarter average.
Answer
Brent Beardall, President and CEO, explained that technology efforts involve continuous improvement across all offerings, citing examples like direct deposit switchover and mobile wire transfers. He highlighted the agility of Pike Street Labs in developing client-requested features and emphasized that the primary driver for profitability improvement is focusing on business accounts while maintaining conservative underwriting. Kelli Holz, CFO, clarified that the higher end-of-period margin in the prior quarter was primarily due to the reversal of interest for a large non-accrual loan that went non-accrual during that period.