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Washington Federal Inc (WAFD) SEC Filing 10-K Annual Report for the fiscal year ending Thursday, September 30, 2021

Washington Federal Inc

CIK: 936528 Ticker: WAFD

Exhibit 99.1

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Thursday, October 14, 2021
FOR IMMEDIATE RELEASE


Washington Federal Reports Earnings Per Share Of $2.39 For Fiscal 2021



SEATTLE, WASHINGTON – Washington Federal, Inc. (Nasdaq: WAFD) (the "Company"), parent company of Washington Federal Bank, N.A. ("WaFd Bank"), today announced annual earnings of $183,615,000 for the fiscal year ended September 30, 2021, an increase of $10,177,000 from earnings of $173,438,000 for the year ended September 30, 2020. After the effect of dividends on preferred stock, net income available for common shareholders was $2.39 per share for the fiscal year ended September 30, 2021, a $0.13 or 5.8% increase from $2.26 for the prior fiscal year. Return on common shareholders' equity for the fiscal year ended September 30, 2021 was 8.69% compared to 8.63% for the year ended September 30, 2020. Return on assets for the year ended September 30, 2021 was 0.95% compared to 1.00% for the prior year.
President and Chief Executive Officer Brent J. Beardall commented, "We are a 104 year-old bank that is in the midst of re-inventing itself in a digital age, and fiscal 2021 was one of the best years we have ever experienced. Operating in an ongoing worldwide pandemic, WaFd Bank was able to generate record new loan originations, record core deposit balances, an eighth consecutive year of net recoveries (net loan charge-offs were less than zero), significant improvements in our Bank Secrecy Act program and improvements that resulted in a high degree of client satisfaction. We are believers in conscious capitalism, meaning that an organization can be a good corporate citizen by supporting its employees and communities while also delivering reasonable returns to its shareholders. The 4th quarter’s earnings per share of $0.72 is an all-time quarterly high (excluding non-recurring gains). Key performance indicators are trending in the right direction: our 4th quarter net interest margin improved on a linked quarter basis and year-over-year, loan repayments are slowing as market interest rates have increased, and we currently have the strongest loan pipeline in the Company’s history. We expect to stand apart from many of our peers in terms of loan growth,
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The following information was filed by Washington Federal Inc (WAFD) on Friday, October 15, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Washington Federal Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover Page
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income (Parenthetical)
Consolidated Statements Of Financial Condition
Consolidated Statements Of Financial Condition (Parenthetical)
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Consolidated Statements Of Stockholders' Equity (Parenthetical)
401(K) Plan
401(K) Plan (Details)
Allowance For Loan Losses
Allowance For Loan Losses (Tables)
Allowance For Loan Losses - Allowance For Loan Losses (Details)
Allowance For Loan Losses - Credit Risk Profile Based On Payment Activity (Details)
Allowance For Loan Losses - Internally Assigned Grade (Details)
Allowance For Loan Losses - Narrative (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Narrative (Details)
Commitments And Contingencies - Net Lease Costs (Details)
Commitments And Contingencies - Operating Lease By Balance Sheet Grouping (Details)
Commitments And Contingencies - Operating Lease Maturity (Details)
Customer Accounts
Customer Accounts (Tables)
Customer Accounts - Interest Expense On Customer Accounts (Details)
Customer Accounts - Narrative (Details)
Customer Accounts - Schedule Of Deposits (Details)
Customer Accounts - Time Deposits (Details)
Derivatives And Hedging Activities
Derivatives And Hedging Activities (Tables)
Derivatives And Hedging Activities - Gains/(Losses) On Derivative Instruments In Fair Value And Cash Flow Accounting Hedging Relationships (Details)
Derivatives And Hedging Activities - Impact Of Client Swap Program That Are Not Designated In Accounting Hedges (Details)
Derivatives And Hedging Activities - Impact Of Derivative Instruments On Aoci (Details)
Derivatives And Hedging Activities - Impact Of Fair Value Hedge Accounting On The Carrying Value Of The Hedged Items (Details)
Derivatives And Hedging Activities - Narrative (Details)
Derivatives And Hedging Activities - Summary Of Fair Value, Notional Amount And Balance Sheet Classification (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Fair Value By Balance Sheet Grouping (Details)
Fair Value Measurements - Fair Value Measured On Nonrecurring Basis (Details)
Fair Value Measurements - Fair Value Measured On Recurring Basis (Details)
Fair Value Measurements - Narrative (Details)
Fhlb Advances And Other Borrowings
Fhlb Advances And Other Borrowings (Tables)
Fhlb Advances And Other Borrowings - Maturity Dates Of Outstanding Fhlb Advances (Details)
Fhlb Advances And Other Borrowings - Narrative (Details)
Fhlb Advances And Other Borrowings - Weighted Average Cost And Amount Of Advances (Details)
Financial Information - Washington Federal, Inc.
Financial Information - Washington Federal, Inc. (Tables)
Financial Information - Washington Federal, Inc. - Statements Of Cash Flows (Details)
Financial Information - Washington Federal, Inc. - Statements Of Financial Condition (Details)
Financial Information - Washington Federal, Inc. - Statements Of Operations (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Components Of Income Tax Expense (Benefit) (Details)
Income Taxes - Narrative (Details)
Income Taxes - Net Deferred Tax Asset (Liability) (Details)
Income Taxes - Reconciliation Of Effective Income Tax Rate (Details)
Interest Receivable
Interest Receivable (Details)
Interest Receivable (Tables)
Investment Securities
Investment Securities (Tables)
Investment Securities - (Unrealized Losses And Fair Value Of Securities) (Details)
Investment Securities - Investments By Contractual Maturity Date (Details)
Investment Securities - Narrative (Details)
Loans Receivable
Loans Receivable (Tables)
Loans Receivable - Interest Rate Terms (Details)
Loans Receivable - Loans Based On Credit Quality Indicators (Details)
Loans Receivable - Loans On Non-Accrual Status (Details)
Loans Receivable - Loans Receivable, Analysis Of Age Of Loans In Past Due Status (Details)
Loans Receivable - Narrative (Details)
Loans Receivable - Schedule Of Loans Receivable (Details)
New Accounting Pronouncements
Premises And Equipment
Premises And Equipment (Details)
Premises And Equipment (Tables)
Revenue From Contracts With Customers
Revenue From Contracts With Customers (Details)
Shareholders' Equity
Shareholders' Equity (Tables)
Shareholders' Equity - Earnings Per Share (Details)
Shareholders' Equity - Narrative (Details)
Shareholders' Equity - Regulatory Capital Requirements (Details)
Stock Award Plans
Stock Award Plans (Tables)
Stock Award Plans - Narrative (Details)
Stock Award Plans - Nonvested Restricted Stock (Details)
Stock Award Plans - Nonvested Stock Options (Details)
Stock Award Plans - Option Activity (Details)
Stock Award Plans - Other Stock Option Information (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Estimated Future Amortization Expense (Details)
Summary Of Significant Accounting Policies - Goodwill And Intangible Assets (Details)
Summary Of Significant Accounting Policies - Narrative (Details)
Ticker: WAFD
CIK: 936528
Form Type: 10-K Annual Report
Accession Number: 0000936528-21-000122
Submitted to the SEC: Fri Nov 19 2021 5:10:08 PM EST
Accepted by the SEC: Fri Nov 19 2021
Period: Thursday, September 30, 2021
Industry: National Commercial Banks

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