Washington Federal Announces Quarterly Earnings Per Share Of $0.57
SEATTLE, WASHINGTON – Washington Federal, Inc. (Nasdaq: WAFD) (the "Company"), parent company of Washington Federal, National Association, today announced quarterly earnings of $49,271,000 or $0.57 per diluted share for the quarter ended March 31, 2018 compared to $42,070,000 or $0.47 per diluted share for the quarter ended March 31, 2017, a $0.10 or 21% increase in fully diluted earnings per share. Return on equity for the quarter ended March 31, 2018 was 9.81% compared to 8.37% for the quarter ended March 31, 2017. Return on assets for the quarter ended March 31, 2018 was 1.26% compared to 1.13% for the same quarter in the prior year.
President and Chief Executive Officer Brent J. Beardall commented, “We are pleased with the continued strength of our core operations; net interest margin for the quarter grew from 3.15% to 3.25% and other key profitability measures improved markedly versus the same quarter last year. We are investing heavily in our employees, our technology and our compliance programs. As a result, expenses have increased and our efficiency ratio now stands at 50.7%. Next quarter we are delivering a new treasury management system to our commercial clients that enables them to process transactions more securely and efficiently than ever before. Our balance sheet strength and the robust western markets we serve provide us with reasons to be optimistic about the future.”
Total assets were $15.6 billion as of March 31, 2018 compared to $15.3 billion as of September 30, 2017. Asset growth since September 30, 2017 resulted primarily from a $341 million increase in net loans receivable and a $70 million increase in held-to-maturity securities.
The following information was filed by Washington Federal Inc (WAFD) on Wednesday, April 11, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Ticker: WAFD CIK: 936528 Form Type:10-Q Quarterly Report Accession Number: 0000936528-18-000041 Submitted to the SEC: Tue May 01 2018 6:43:05 PM EST Accepted by the SEC: Wed May 02 2018 Period: Saturday, March 31, 2018 Industry: National Commercial Banks