- Woffett, Inc. (WAFD) reported **net income available to common shareholders of $56.9 million** or **$0.72 per diluted share** for Q4 2025, and **$211.4 million** or **$2.63 per diluted share** for the full fiscal year 2025.  **[0000936528_2190230_1]** 
- The company is strategically transitioning to a commercial bank, exiting the single-family mortgage market, and aiming for **8-12% growth in its active loan portfolio** in the next year, while inactive loans are projected to run off by **$200-300 million per quarter**.  **[0000936528_2190230_5]** **[0000936528_2190230_6]** **[0000936528_2190230_7]** **[0000936528_2190230_10]** 
- WAFD's net interest margin improved to **2.71%** in Q4 2025, with a quarter-end spot rate of **2.82%**, and management plans to be more aggressive with deposit rate cuts.  **[0000936528_2190230_1]** **[0000936528_2190230_10]** **[0000936528_2190230_12]**  Credit quality metrics saw an increase in delinquent loans to **0.6%** and nonperforming assets to **0.54% of total assets**, primarily due to one commercial real estate loan.  **[0000936528_2190230_3]** 
- Management expressed a strong likelihood of exercising its **share repurchase program** given the stock is trading below tangible book value.  **[0000936528_2190230_14]**

Woffett, Inc. Reports Q4 and FY 2025 Results, Continues Commercial Bank Transition

- WaFd Inc. reported **net income of $56.9 million** or **$0.72 per diluted share** for the fourth quarter of 2025, and **$211.4 million** or **$2.63 per diluted share** for the full fiscal year 2025.  **[0000936528_2190216_1]**  The net interest margin for the September quarter was **2.71%**, and the efficiency ratio was **56.82%**.  **[0000936528_2190216_1]** **[0000936528_2190216_2]** 
- The company is actively transitioning to a commercial bank model under its "Build 2030" plan, having exited the single-family mortgage lending market and reorganizing its banking teams.  **[0000936528_2190216_1]** **[0000936528_2190216_5]** **[0000936528_2190216_6]**  A key goal is to increase non-interest-bearing deposits from **12%** to **20%** of total deposits by fiscal 2030.  **[0000936528_2190216_1]** **[0000936528_2190216_6]** 
- In Q4 2025, loans receivable decreased by **$188 million**, primarily due to a **$216 million** decrease in inactive loan types, while deposits increased by **$51 million**, with non-interest-bearing deposits growing by **$80 million**.  **[0000936528_2190216_1]**  Loan originations for active loan types outpaced repayments for the first time this fiscal year.  **[0000936528_2190216_1]** 
- Credit quality metrics showed an increase in delinquent loans to **0.6%** and non-performing assets to **0.54%** of total assets, largely impacted by a single commercial real estate loan.  **[0000936528_2190216_3]**  The net provision for credit losses was **$3 million** for the quarter.  **[0000936528_2190216_3]** 
- WaFd launched WaFd Wealth Management on August 29, 2024, with a goal to organically grow assets under management to **$1 billion** in the first two years.  **[0000936528_2190216_7]**

WaFd Inc. Reports Q4 and Full Year 2025 Results, Continues Commercial Bank Transition

- WaFd reported **Fiscal Year 2025** net income of **$226 million** and diluted earnings per common share of **$2.63**, representing a **13%** increase in net earnings and a **5.20%** increase in diluted EPS compared to Fiscal Year 2024.  **[936528_fa705c0e1f984129924052a4cf17ec42_0]** **[936528_fa705c0e1f984129924052a4cf17ec42_3]**  For the **fourth quarter of 2025**, net income was **$60.6 million** and diluted earnings per common share was **$0.72**.  **[936528_fa705c0e1f984129924052a4cf17ec42_0]** **[936528_fa705c0e1f984129924052a4cf17ec42_3]** 
- The company's net interest margin improved to **2.71%** in Q4 2025 from 2.69% in Q3 2025.  **[936528_fa705c0e1f984129924052a4cf17ec42_0]** **[936528_fa705c0e1f984129924052a4cf17ec42_4]**  Loan originations increased **103%** over Q3 2025, with commercial loans accounting for **83%** of all originations in Fiscal Year 2025, and checking accounts growing from **33%** to **35%** of deposits over the year.  **[936528_fa705c0e1f984129924052a4cf17ec42_0]** **[936528_fa705c0e1f984129924052a4cf17ec42_3]** 
- Credit quality metrics showed an increase in non-performing assets to **$143 million**, or **0.54%** of total assets, as of September 30, 2025, up from **$97 million** or **0.36%** at June 30, 2025.  **[936528_fa705c0e1f984129924052a4cf17ec42_0]** **[936528_fa705c0e1f984129924052a4cf17ec42_4]**  Delinquent loans also rose to **0.60%** of total loans at September 30, 2025, compared to **0.26%** at June 30, 2025.  **[936528_fa705c0e1f984129924052a4cf17ec42_0]** **[936528_fa705c0e1f984129924052a4cf17ec42_4]** 
- WaFd returned capital to shareholders by paying a cash dividend of **$0.27 per share** on September 5, 2025, and repurchasing **969,653 shares** during Q4 2025 at a weighted average price of **$29.74 per share**.  **[936528_fa705c0e1f984129924052a4cf17ec42_0]**  For the full fiscal year, **3,447,771 shares** were repurchased at a weighted average price of **$29.56**.  **[936528_fa705c0e1f984129924052a4cf17ec42_4]**

WAFD (WAFD)