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AI brief of an SEC Form 8-K · WaFd (WAFD)

WaFd Q1 EPS falls to $0.54 as it exits single-family mortgage lending

Negative Impact 4 of 5 earnings Written later

WaFd reported diluted earnings of $0.54 per share for the quarter ended December 31, 2024, down from $0.71 in the prior quarter and $0.85 a year earlier. The company said it will stop originating single-family mortgages and home equity lines of credit, recording $5.4 million in restructuring charges and expecting an 8% workforce reduction, which it estimates will save about $17 million in annual expenses by the end of June 2025.

Key points

  • Diluted EPS was $0.54 versus $0.71 for the prior quarter and $0.85 a year earlier; net income was $47.3 million, down 23% from the prior quarter.
  • Net interest income fell 10% to $155 million, and net interest margin dropped to 2.39% from 2.62%.
  • The company recorded $5.4 million in restructuring charges and expects annual expense savings of about $17 million by the end of June 2025.
  • Executive Vice President James Endrizzi moved to a Senior Vice President role effective January 16, 2025, and forfeits unvested awards of 37,841 restricted and performance shares.

The filing

CompanyWaFd (WAFD)
Form8-K, current report
Filed with the SECJan 21, 2025, 11:07 AM ET
Accession number0000936528-25-000031

Items reported: 2.02 Results of Operations5.02 Director / Officer Change7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 6:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on January 21, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.