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Sep 30, 2021
WaFd Q4 2021 Earnings Report
Reported earnings per share of $2.39 for fiscal 2021.
Key Takeaways
Washington Federal reported annual earnings of $183,615,000 for the fiscal year ended September 30, 2021, and Q4 earnings per share of $0.72, an all-time quarterly high (excluding non-recurring gains). Key performance indicators are trending positively, with net interest margin improving and a strong loan pipeline.
Generated record new loan originations and core deposit balances.
Achieved an eighth consecutive year of net recoveries.
Improved Bank Secrecy Act program and client satisfaction.
Repurchased $349 million worth of common stock during fiscal 2021, increasing earnings per share to common shareholders by 4.1% going forward.
Forward Guidance
The Company believes its future is bright due to the trust and confidence earned from clients and its spreading reputation. However, they remain vigilant due to economic uncertainties and the ongoing COVID-19 pandemic.
Positive Outlook
- Strong loan pipeline.
- Loan repayments are slowing as market interest rates have increased.
- Net interest margin improved on a linked quarter basis and year-over-year.
- WaFd Bank team has earned the trust and confidence of our clients.
- Reputation is spreading.
Challenges Ahead
- Significant uncertainty still exists due to the COVID delta variant.
- Economy expands, and it will contract.
- Company is enjoying the best of times in terms of credit, yet we know we are only one economic shock away from that changing.
- Business cycles will occur.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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