WaFd, Inc. (WAFD) Earnings Call Transcripts

WaFd, Inc.'s Latest Earnings Call - Q2 FY2026

WaFd, Inc. reported strong results for Q2 FY2026, with net income available to common shareholders of $61.9 million or $0.82 per diluted share, up from $0.65 per share in Q2 FY2025. Revenue was driven by a $6.5 million increase in net interest income. The company repurchased 2.7 million shares, enhancing EPS. Management highlighted a 12% increase in active loan portfolio growth and a 66% increase in the deposit pipeline. Guidance suggests flat net interest margin in the near term, with a goal to reach 3% over the next two years.

Reported metrics

Guidance from management

Management expects the net interest margin to remain flat in the near term, with a goal to reach 3% over the next two years. Loan portfolio growth is expected to be 8% to 12% going forward.

What management said

So that's the linked quarter swing. So bringing one of our large nonperforming credits current and bringing back the interest income on to accrual and recognizing that is where you get to 7 basis points. So there was about $2.2 million that was recognized this quarter that is really from prior quarter activities.

Yes, Jeff. So I'll opt in on that one. I think when we say kind of 3% over the short term, that's absent of changes with interest rates, right? Because the who knows where rates are going. We know, who the [indiscernible] of the fed would be at this point. We think just organically, as we reprice the mortgage loans and performance come due. We have that accretion to come into income and then we get a pickup yield as ...

What analysts pressed on

Analysts questioned the sustainability of the margin improvement and the impact of nonaccrual adjustments. There was also interest in the potential headwinds from securities growth and the sustainability of loan growth rates.

Main topics on the call

• Earnings Growth — EPS increased to $0.82 from $0.65 YoY, driven by a modest increase in net interest income and share repurchases. 'Bottom line results for the quarter improved nicely with 4% linked quarter EPS growth and 26% year-over-ye...
• Loan Portfolio Growth — Active loan portfolio grew by 12% on a linked quarter basis, with a focus on C&I lending. 'We saw a 12% increase on a linked quarter basis in the active portfolio.'
• Deposit Trends — Total deposits decreased by $292 million, but the deposit pipeline increased by 66% on a linked-quarter basis. 'Core deposits ended the quarter at 80.4% compared to the December quarter at 79.7%.'
• Net Interest Margin — Net interest margin improved to 2.81% from 2.7% in the prior quarter, with management aiming for 3% over the next two years. 'Absent any changes in interest rates, we expect our margin to be flat in the near term.'

Read the full WaFd, Inc. transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 6 WaFd, Inc. earnings call transcripts on record, spanning November 14, 2022 to September 8, 2026. Based on this history, WaFd, Inc. reports annually. The most recent call on file is dated September 8, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

WAFD

Exchange

NasdaqGS

Country

US

Sector

Financials

Industry

Banks

Calls on record

6

First call

November 14, 2022

Most recent

September 8, 2026

Reporting cadence

annually