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Dec 31, 2022
WaFd Q1 2023 Earnings Report
Reported record quarterly earnings per share.
Key Takeaways
Washington Federal announced quarterly earnings of $79,509,000 for the quarter ended December 31, 2022, an increase of 58% from $50,281,000 for the quarter ended December 31, 2021. Net income available for common shareholders was $1.16 per diluted share for the quarter ended December 31, 2022, compared to $0.71 per diluted share for the quarter ended December 31, 2021.
Loan growth was robust, increasing $880 million or 5.5% for the quarter.
Credit quality remained strong, with yet another quarter of net recoveries and our allowance for credit losses stands at $208 million.
Net interest income increased 36.3% over the same quarter last year.
Efficiency ratio improved for the quarter.
WaFd
WaFd
Forward Guidance
The company announced the signing of a definitive merger agreement with Luther Burbank Corporation, creating a continuous footprint from Seattle to Austin.