2024         30, 2024             2024             2024                 2023 
----------------  ------------      -----------      -----------      -----------      --------------- 
Adjusted ROA and 
ROE                               (Unaudited - In thousands, except for ratio data) 
----------------   ------------------------------------------------------------------------------- 
Reported: 
   Net Income - 
    GAAP           $    47,267      $    61,140      $    64,560      $    15,888      $    58,453 
   Net income 
    available to 
    common 
    shareholders 
    - GAAP         $    43,611      $    57,484      $    60,904      $    12,232      $    54,797 
 
   Average Assets   27,504,576       28,000,482       29,703,337       24,907,376       22,381,459 
                    ----------       ----------       ----------       ----------       ---------- 
   Return on 
    Assets                0.69%            0.87%            0.87%            0.26%            1.04% 
 
   Average Common 
    Equity         $ 2,715,197      $ 2,696,093      $ 2,647,056      $ 2,338,483      $ 2,147,580 
                    ----------       ----------       ----------       ----------       ---------- 
   Return on 
    common 
    equity                6.42%            8.53%            9.20%            2.09%           10.21% 
 
Adjusted: 
   Net Income - 
    non-GAAP       $    54,251      $    58,790      $    65,623      $    54,757      $    58,358 
   Net income 
    available to 
    common 
    shareholders 
    - non-GAAP     $    50,595      $    55,134      $    61,967      $    51,101      $    54,702 
 
   Average Assets   27,504,576       28,000,482       29,703,337       24,907,376       22,381,459 
                    ----------       ----------       ----------       ----------       ---------- 
   Adjusted 
    Return on 
    Assets                0.79%            0.84%            0.88%            0.88%            1.04% 
 
   Average Common 
    Equity           2,715,197        2,696,093        2,647,056        2,338,483        2,147,580 
                    ----------       ----------       ----------       ----------       ---------- 
   Adjusted 
    Return on 
    common 
    equity                7.45%            8.18%            9.36%            8.74%           10.19% 
 

Important Cautionary Statements

The foregoing information should be read in conjunction with the financial statements, notes and other information contained in the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

This press release contains statements about the Company's future that are not statements of historical or current fact. These statements are "forward-looking statements" for purposes of applicable securities laws and are based on current information and/or management's good faith belief as to future events. Words such as "expects," "anticipates," "believes," "estimates," "intends," "forecasts," "may," "potential," "projects," and other similar expressions or future or conditional verbs such as "will," "should," "would," and "could" are intended to help identify such forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes any such statements are based on reasonable assumptions, forward-looking statements should not be read as a guarantee of future performance, and you are cautioned not to place undue reliance on any forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statement.

By their nature, forward-looking statements involve inherent risk and uncertainties including the following risks and uncertainties, and those risks and uncertainties more fully discussed under "Risk Factors" in the Company's September 30, 2024 10-K, and Quarterly Reports on Form 10-Q which could cause actual performance to differ materially from that anticipated by any forward-looking statements. Forward-looking statements relating to our financial condition or operations are subject to risks and uncertainties related to (i) fluctuations in interest rate risk and market interest rates, including the effect on our net interest income and net interest margin; (ii) current and future economic conditions, including the effects of declines in the real estate market, high unemployment rates, inflationary pressures, a potential recession, the monetary policies of the Federal Reserve, and slowdowns in economic growth either nationally or locally in some or all of the areas in which we conduct business; (iii) financial stress on borrowers (consumers and businesses) as a result of higher interest rates or an uncertain economic environment; (iv) changes in deposit flows or loan demands; (v) our ability to identify and address cyber-security risks, including security breaches, "denial of service attacks," "hacking" and identity theft; (vi) the Company's exit from the mortgage lending business; (vii) the effects of natural or man-made disasters, calamities, or conflicts, including terrorist events and pandemics (such as the COVID-19 pandemic) and the resulting governmental and societal responses; (viii) the results of examinations by regulatory authorities, including a "Needs to Improve" CRA rating, which may impose restrictions or penalties on the Company's activities; (ix) expectations regarding key growth initiatives and strategic priorities; (x) global economic trends, including developments related to Ukraine and Russia, and the evolving conflict in the Middle East, and related negative financial impacts on our borrowers; (xi) litigation risks resulting in significant expenses, losses and reputational damage; (xii) the impact of bank failures or adverse developments at other banks and related negative press about regional banks and the banking industry in general; and (xiii) other economic, competitive, governmental, environmental, regulatory, and technological factors affecting our operations, pricing, products and services.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250116903614/en/

 
    CONTACT:    WaFd, Inc. 

425 Pike Street, Seattle, WA 98101

Brad Goode, SVP, Chief Marketing Officer

206-626-8178

brad.goode@wafd.com

(END) Dow Jones Newswires

January 16, 2025 17:15 ET (22:15 GMT)