Every material Form 8-K WaFd filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
WaFd, Inc. reported fiscal 2024 net income of $200 million, or $2.50 per diluted share, down from $257 million, or $3.72, in fiscal 2023. The results include $26.3 million of acquisition-related expenses and the February 29, 2024 Luther Burbank Corporation acquisition, which the company says makes year-over-year comparisons not directly comparable. For shareholders, the headline earnings measures declined for the year, and the company's non-GAAP adjusted EPS of $3.02 excludes those costs.
Fiscal 2024 net income was $200 million, or $2.50 per diluted share, versus $257 million, or $3.72, in fiscal 2023.
Fourth-quarter net income was $61.1 million, or $0.71 per diluted share, versus $50.2 million, or $0.72, a year earlier.
Acquisition-related expenses were $26.3 million; non-GAAP adjusted EPS for the year was $3.02.
Net interest income was $660.8 million, down 4.3% from the prior year, and total assets were $28.1 billion as of September 30, 2024.
WaFd reported net income of $64.6 million for the quarter ended June 30, 2024, up 5% from $61.8 million a year earlier, and up sharply from $15.9 million in the March 2024 quarter. Diluted earnings per share were $0.75, down from $0.89 a year earlier but up from $0.17 in the prior quarter, the first full quarter after the Luther Burbank acquisition.
Net income was $64.56 million versus $61.78 million for the June 30, 2023 quarter, and $15.89 million for the March 31, 2024 quarter.
Diluted EPS was $0.75, compared with $0.89 a year earlier and $0.17 in the March 2024 quarter.
Net interest margin fell to 2.56% from 3.27% a year earlier; net interest income rose 5.0% to $177 million.
Acquisition-related costs were $2.3 million for the quarter, and the company reported non-performing assets of $69 million.
WaFd Bank, a subsidiary of WaFd, Inc., closed its previously announced sale of about 1,800 commercial multifamily real estate loans to Bank of America on June 21, 2024, for an aggregate purchase price of $2.6 billion. The price equals 91.96% of the $2.8 billion unpaid principal balance, and the company says the sale was executed at no loss and provides immediate liquidity for shareholders to weigh.
Purchase price of $2.6 billion, or 91.96% of the $2.8 billion unpaid principal balance of about 1,800 loans
Loans originated through the Luther Burbank Savings acquisition by WaFd Bank in March 2024; the sale was not a condition of that merger
Bank of America is reselling the loans to funds managed by Pacific Investment Management Company LLC (PIMCO), according to the press release
Management said the proceeds give the bank options to pay down debt, originate new loans, buy back stock, or a combination of these
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every WaFd filing is on SEC EDGAR ↗. 8-K briefs of other companies →