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Dec 31, 2025
WaFd Q1 2026 Earnings Report
WaFd reported strong Q1 2026 results with higher net income and EPS driven by cost controls and improved non-interest income.
Key Takeaways
WaFd delivered solid Q1 2026 performance, posting increases in EPS and net income. The company benefited from improved non-interest income, share repurchases, and a slight uptick in net interest income, despite rising delinquencies and non-performing assets.
EPS rose to $0.79, supported by higher income and lower costs.
Net income reached $64.2M, up 36% YoY.
Non-performing assets increased to 0.75% of total assets.
Company repurchased 1.95M shares, boosting book value.
Revenue by Segment
Forward Guidance
WaFd anticipates improved loan demand and stronger loan production going forward, while remaining cautious about rising credit stress.
Positive Outlook
- Steady net interest margin supports revenue.
- Non-interest income boosted by property sale.
- Lower non-interest expenses improve efficiency.
- Share repurchases enhance EPS and book value.
- Management expects stronger loan production.
Challenges Ahead
- Delinquent loans rose to 1.07% of total loans.
- Non-performing assets increased significantly.
- Loan originations declined from prior quarter.
- Higher charge-offs this quarter.
- Credit quality concerns from specific commercial loans.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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