WaFd Inc. (Nasdaq: WAFD) announced its quarterly earnings, reporting a net income of $62 million for the third quarter, reflecting an improvement from the previous quarter's net income of $56.3 million. The company also reported diluted earnings per common share of $0.73, contributing to a 12% increase in earnings per share compared to the previous period. Net interest income for the quarter was $168 million, up from $161 million in the previous quarter, with a net interest margin of 2.69%, showing an increase from the 2.55% reported in Q2. The company attributed the strong core earnings to an improved margin and resultant net interest income, as well as a strategic decrease in the cost of funds by 6.5% on a linked quarter basis. Additionally, WaFd noted an increase in non-performing assets, which rose by $26 million to 0.36% of total assets, compared to 0.26% in the previous quarter. Delinquencies decreased by $4 million, now representing 0.26% of total loans, slightly down from 0.27% in Q2. In the absence of significant loan demand, WaFd focused on share repurchases at attractive prices, which are approximately 1.01 times the tangible book value, contributing to a 5.4% annualized increase in tangible book value per share. The company highlighted that many borrowers are waiting for more certainty before starting new projects.