WaFd Inc. reported third-quarter fiscal 2026 adjusted earnings of 81 cents per share for the period ended June 30, which fell short of the Zacks Consensus Estimate by one cent but marked an 11% increase year over year. The company’s net income available to common shareholders was $62.5 million, up 7.2% from the prior year, surpassing estimates of $60.2 million.
Total net revenues reached $205.5 million, a 10.3% rise from the previous year, exceeding forecasts of $198.9 million, driven by a 7.9% increase in net interest income of $181.3 million. However, total deposits declined by 2.1% to $20.93 billion, and net loans receivable fell by 1.3% to $20.02 billion. The provision for credit losses surged to $11 million, up from $2 million in the previous year.
WaFd’s efficiency ratio improved to 53.69%, down from 56.01% a year earlier, reflecting enhanced profitability. The company’s return on average common equity rose to 9.23% compared to 8.54% in the prior year. WaFd also repurchased 8,806 shares at an average price of $36.20 during the quarter, with 8 million shares remaining in its buyback authorization.
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