Washington Federal reported annual earnings of $173,438,000 and diluted earnings per share of $2.26 for the fiscal year ended September 30, 2020. Net interest margin of 2.67% in the 4th fiscal quarter of 2020 was down from 3.12% in the same quarter of the prior year. Operating expenses were $78.2 million for the 4th fiscal quarter of 2020, an increase of $5.6 million or 7.8% from the same quarter a year ago.
Achieved record growth in transaction deposit accounts, up $2.7 billion or 38%.
Teams produced record loan production of $6.2 billion, up $2.1 billion or 51%.
Net promoter score improved to 51, up from 17 just four years ago.
The company increased its credit loss allowance from $138 million to $192 million, a 39% increase.
The company sees meaningful opportunities to profitably grow the bank, particularly with projected net immigration into our markets over the next decade.
Analyze how earnings announcements historically affect stock price performance