Washington federal inc (WAFD)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10Dec'09
CASH FLOWS FROM OPERATING ACTIVITIES
Net income

37,950

65,703

52,362

53,854

51,098

52,942

51,515

51,394

49,271

51,670

46,104

44,112

42,070

41,246

44,224

43,004

41,723

35,098

42,498

39,050

40,361

38,407

40,561

37,910

38,657

40,236

42,907

37,338

35,978

35,282

35,532

35,162

34,071

33,418

30,666

30,121

25,824

24,530

15,963

12,668

82,111

7,911

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization, and accretion expense, net

-14,811

15,275

10,452

5,682

7,536

7,388

7,755

12,224

11,483

15,273

12,078

10,832

6,683

12,087

-3,086

11,513

9,028

2,054

-1,187

8,509

5,267

5,299

8,880

2,474

2,236

3,757

5,267

3,419

6,552

536

-5,895

19,694

13,813

6,890

-11,793

16,664

10,695

5,097

14,136

-1,201

5,590

3,099

Cash received from (paid to) FDIC under loss share

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-96

-327

178

1,975

1,434

24

-307

-431

1,553

-680

334

1,295

407

1,346

7,102

4,566

7,311

4,344

-10,829

6,761

-14,310

0

6,757

14,220

168,691

-76,140

0

0

Stock-based compensation expense

2,119

1,379

1,204

1,199

1,111

1,751

1,137

1,100

1,522

1,012

783

955

1,426

2,745

-313

3,282

-580

1,180

2,661

300

300

300

-576

300

300

300

-427

300

300

300

-52

300

300

300

272

275

240

300

291

330

292

300

Depreciation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,300

-

1,875

1,875

1,875

27,878

1,650

1,650

1,650

1,566

1,500

1,350

1,350

Decrease in FDIC indemnification asset

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-76,140

0

0

Provision (release) for credit losses

6,200

-1,000

-1,900

0

750

-500

-5,500

1,000

-950

0

-

-

-

-

-

-

-

-

219

-1,932

-3,949

-5,500

-3,465

-3,000

-4,336

-4,600

-2,250

0

0

3,600

5,379

10,366

18,000

11,210

15,354

21,000

30,750

26,000

26,000

20,736

63,423

69,750

Loss (gain) on sale of investment securities

15,028

0

0

0

0

-9

0

0

0

0

2,531

0

0

968

0

0

0

0

-16,176

13,479

2,732

9,606

3,108

-1,640

445

597

7,993

3,046

-1,835

-1,193

92,586

7,081

21,144

-19,859

-3,093

-8,171

-1,498

-10,553

-18,108

-30,080

-17,586

7,708

Gain on bank owned life insurance

-

-

-

-

-

-

-

0

0

2,416

-

4,334

0

649

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net realized (gain) loss on sales of premises, equipment, and real estate owned

381

32,734

3,386

719

1,325

7,054

117

311

781

241

-18

-896

3,244

-657

5,503

7,907

4,319

2,310

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment loss on premises and equipment

0

5,931

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Decrease (increase) in accrued interest receivable

-649

-2,132

853

-2,786

2,583

912

3,625

-261

1,785

503

2,717

-1,647

2,455

449

781

-683

-688

-2,170

879

-809

-398

-11,280

645

108

1,655

411

1,202

2,568

-2,382

-1,058

-6,186

-1,076

145

1,391

459

18

85

2,750

-975

-1,665

-1,530

-3,829

Decrease (increase) in federal and state income tax receivable

0

0

-3,608

0

0

1,804

6,097

-2,879

-1,414

0

-32,094

0

0

16,047

-12,807

-509

-8,414

16,577

-24,712

3,888

-12,213

19,208

-27,148

3,215

-17,586

22,629

-8,016

4,491

-10,899

-3,038

8,721

3,314

-12,782

18,813

-14,926

-14,497

4,276

13,796

-

-

-

-

Decrease (increase) in FDIC loss share receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,458

3,690

696

1,356

7,327

1,960

413

770

-

-

-

-

Decrease (increase) in cash surrender value of bank owned life insurance

1,393

1,457

1,466

1,443

1,416

1,497

1,502

1,478

1,441

1,571

1,591

1,575

1,593

1,739

1,746

1,722

1,374

785

776

759

745

216

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Decrease (increase) in other assets

95,542

3,793

-5,630

44,506

-4,644

-16,816

5,998

-7,919

1,082

7,715

-1,356

8,657

-1,122

-14,153

309

8,344

1,797

3,754

-8,156

10,709

12,115

14,552

3,285

20,627

-4,464

-1,649

315

-953

-5,521

-30,191

90,797

-7,076

-4,964

-3,868

-9,929

3,542

-6,837

-8,376

-8,137

-2,024

9,202

52,600

Increase (decrease) in income taxes payable/receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-39,716

4,632

Increase (decrease) in federal and state income tax liabilities

-14,167

14,067

1,811

-2,848

4,080

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase (decrease) in accrued expenses and other liabilities

58,557

8,092

1,498

45,762

-15,225

-10,482

4,253

-49,139

5,682

2,595

6,382

-6,020

-574

-41,265

25,477

-4,116

33,840

15,870

17,744

-24,324

26,476

-25,890

28,099

-2,734

5,015

-12,768

13,011

-14,407

6,667

-15,437

7,420

-726

-66

2,021

1,600

-4,049

2,861

-23,987

-8,142

-20,621

-41,277

-4,203

Net cash provided by (used in) operating activities

-22,038

73,595

65,352

59,767

48,670

60,265

50,407

20,091

62,100

58,104

57,331

38,405

42,099

41,865

52,266

33,907

67,473

68,075

70,105

13,726

40,741

18,299

78,880

18,257

25,088

51,490

41,253

27,257

52,361

60,551

-26,383

71,710

27,361

102,268

39,977

53,819

90,888

77,013

98,391

130,053

-3,923

26,360

CASH FLOWS FROM INVESTING ACTIVITIES
Origination of loans and principal repayments, net

-51,990

20,131

44,104

-79,083

-195,098

-222,257

-151,016

-108,641

-119,437

-80,089

-228,037

-191,384

-250,949

-226,080

-211,405

-86,068

-141,805

-179,768

-346,641

-126,226

-41,308

-36,993

67,675

-201,158

-59,048

-68,870

-131,583

93,422

194,550

187,382

171,438

30,289

138,564

203,949

63,628

-25,490

612,978

-251,062

467,541

-116,509

-77,507

8,301

Loans purchased

-

-

-

-

-

-

-

0

0

143,605

-

0

72,856

0

-

0

0

51,646

-

36,574

100,001

46,831

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

FHLB & FRB stock purchase

124,000

77,200

92,000

130,800

145,600

164,200

121,200

149,400

135,800

123,600

90,600

75,800

17,200

9

0

4,018

25,520

6,809

4,067

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

FHLB & FRB stock redeemed

92,000

77,200

102,200

135,000

142,800

155,800

122,800

147,600

139,400

116,000

92,600

99,648

-14,400

-24

52,680

0

-23,439

-2,901

-59

-47,728

-3,952

-3,969

-4,065

-4,270

-4,306

-1,376

-1,503

-3,009

0

-1,382

0

-318

-1,512

0

-

-

-

-

-

-

-

-

Available-for-sale securities purchased

77,856

82,028

31,039

37,096

118,498

172,076

106,084

43,372

82,440

40,884

76,367

0

0

0

86,849

1

0

50,741

-14,376

166,364

121,901

41,225

200,001

150,000

365,396

565,080

382,629

150,000

95,000

261,966

942,957

258,101

659,789

581,337

305,962

312,807

394,637

572,539

772,699

276,935

487,629

237,080

Principal payments and maturities of available-for-sale securities

63,605

69,085

59,823

88,812

37,365

38,118

42,768

51,507

46,472

58,261

77,470

120,306

57,468

112,469

84,307

124,760

213,424

114,764

219,390

35,570

264,231

202,760

246,292

178,053

108,245

76,805

77,171

97,649

69,502

31,404

543,349

306,578

481,694

276,982

241,782

127,300

148,529

209,768

409,282

311,569

136,421

195,273

Proceeds from sales of available-for-sale securities

204,351

0

0

0

0

491

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sales of available-for-sale securities

-

-

-

-

-

-

-

0

0

0

-

0

0

350,890

50,741

0

0

0

-

-

-

-

-

-

-

-

0

-1

-700

43,899

2,254,413

0

0

3,500

0

0

131,361

0

127,715

0

52,473

315,836

Held-to-maturity securities purchased

-

-

-

-

-

-

0

0

0

170,836

50,329

0

0

415,729

0

0

0

0

-

-

-

-

-

-

-

-

-33,766

414,080

142,354

264,781

1,167,121

0

0

0

-

-

-

-

-

-

-

-

Principal payments and maturities of held-to-maturity securities

65,813

81,329

63,469

44,582

32,360

37,736

43,975

45,056

48,128

50,653

53,383

44,777

52,778

78,778

72,747

63,675

38,967

43,569

-48,007

142,041

34,735

31,178

34,636

26,728

19,136

23,117

-97,805

296,072

82,233

50,522

11,183

3,505

3,549

4,845

2,491

3,237

16,591

11,555

5,156

6,794

5,893

5,285

Proceeds from sales of real estate owned

1,296

820

-

-

1,907

3,915

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash received from mergers and acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

522,143

-25,560

1,280,077

0

0

0

202,308

0

125

0

50,451

0

0

0

0

-

-

-

-

Proceeds from sales of real estate owned

-

-

-

-

-

-

-

5,157

3,363

3,440

-

3,558

3,765

6,457

-

15,226

11,683

26,664

-

25,673

19,495

17,909

-

21,061

14,194

14,295

11,255

36,942

43,048

24,370

37,143

48,672

61,216

28,801

46,825

18,936

20,931

23,708

26,124

21,746

34,575

47,002

Proceeds from settlements of bank owned life insurance

-

-

-

-

-

-

0

0

0

3,484

3,183

5,682

0

1,231

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sales of covered REO

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

11,118

6,098

-

-

-

3,043

-

5,384

11,078

11,881

-

0

-1,758

1,758

-

-

-

-

Purchase of bank owned life insurance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

100,000

0

0

0

0

100,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Fair value of liabilities assumed

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

539,416

-27,980

1,345,608

-

-

-

766,871

-

-7

7

154,493

-

0

0

0

-

-

-

-

Net fair value of assets (liabilities)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-522,143

25,560

-1,280,077

-

-

-

43,895

-

-125

125

-29,899

-

0

0

0

-

-

-

-

Cash paid for acquisitions

1,052

1,725

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

FHLB stock dividends

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2

-2

-

-2

-2

0

Decrease (increase) in intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Proceeds from sales of premises and equipment

0

53,790

3,916

47

1,389

10,233

0

0

0

1

1,253

0

2,234

1,722

14,685

-40

40

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sales of real estate held for investment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,775

-

-

-

-

-

-

-

-

-

-

-

-

Premises and equipment purchased and REO improvements

5,937

4,931

4,685

4,508

7,775

18,562

4,523

9,785

6,334

6,485

5,920

4,669

2,672

2,200

6,495

988

17,105

17,183

21,857

7,685

14,878

2,019

16,147

15,988

10,427

9,232

6,305

4,893

5,863

12,185

17,853

2,420

2,429

9,308

2,844

2,233

1,091

4,371

4,189

3,907

2,661

2,270

Net cash provided by (used in) investing activities

166,230

136,471

140,963

19,616

-251,150

-330,802

-170,048

-61,878

-108,859

-333,660

-212,327

-26,730

-213,032

-92,447

-128,484

112,546

3,123

-118,249

-273,092

-90,470

44,325

28,748

-59,241

385,109

-303,432

758,586

-497,765

-41,880

136,598

11,153

895,892

133,289

35,395

-10,236

75,303

-191,057

30,780

-79,059

-112,500

175,776

-71,737

315,745

CASH FLOWS FROM FINANCING ACTIVITIES
Net increase (decrease) in customer accounts

156,283

-58,626

190,594

77,883

160,746

174,623

99,751

148,693

137,354

166,647

200,806

3,547

-16,692

46,799

21,936

35,532

-107,735

19,492

53,317

-114,163

113,772

-137,999

-48,753

-118,531

-57,835

-1,795

26,849

-88,652

-83,770

-77,942

-106,563

-115,252

-77,235

73,982

-47,787

-76,582

-55,360

-6,908

-34,207

-79,905

175,870

128,944

Proceeds from borrowings

3,100,000

1,930,000

2,300,000

3,270,000

3,640,000

4,105,000

3,030,000

3,735,000

3,395,000

3,090,000

2,265,000

1,895,000

430,000

0

200,000

100,000

614,000

204,000

100,000

0

0

0

-

-

-

625,000

22,471

0

27,529

0

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of borrowings

2,313,809

1,930,000

2,555,000

3,375,000

3,570,000

3,895,000

3,070,000

3,690,000

3,485,000

2,900,000

2,315,000

1,770,000

360,000

0

200,000

0

562,000

106,000

-421,108

110,554

0

100,000

0

0

-625,000

625,000

-

-

-

22,471

-972,711

-2,895

-827

-18,873

-97,449

-544

-537

-1,470

-401,896

-5,391

-126,724

-5,023

Proceeds from stock-based awards

65

50

28

159

94

459

50

56

946

286

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of common stock options and related tax benefit

-

-

-

-

-

-

-

-

-

-

-

573

2,143

4,362

2,963

921

357

5,042

394

1,184

226

266

-106

447

631

9,280

3,964

145

89

63

158

171

26

2

641

262

666

117

183

215

232

1,310

Dividends paid on common stock

16,941

16,433

16,569

15,974

16,137

14,638

14,906

14,236

13,812

13,043

13,178

13,346

35,573

12,422

12,511

12,680

12,699

12,036

12,114

12,191

12,447

14,359

10,672

11,021

10,193

10,179

11,184

7,721

1,680

17,250

6,850

8,502

8,561

8,517

5,465

6,712

6,729

6,791

5,621

5,621

5,618

5,590

Treasury stock purchased

78,610

33,479

19,919

34,287

20,718

48,930

27,308

39,962

57,995

38,984

51,904

26,069

16

20,385

17,802

25,601

34,509

9,938

23,679

25,694

53,029

24,326

40,060

32,455

12,831

18,945

23,201

33,813

8,477

44,747

11,607

0

9,996

20,311

23,060

26,016

6,043

4,561

0

0

0

0

Increase (decrease) in borrower advances related to taxes and insurance, net

20,589

-36,931

23,881

8,110

4,674

-36,252

24,785

-8,653

17,361

-32,707

22,930

-8,525

18,630

-19,302

9,689

9,346

2,115

-28,476

19,568

12,648

-1,293

-9,703

491

11,262

-540

-24,652

16,789

9,462

-360

-23,489

15,728

-5,102

14,273

-24,406

15,682

-6,971

15,408

-24,075

-

-

-

-

Decrease in advance payments by borrowers for taxes and insurance

20,589

-36,931

23,881

8,110

4,674

-36,252

24,785

-8,653

17,361

-32,707

22,930

-8,525

18,630

-19,302

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-6,971

15,408

-24,075

15,329

-6,009

14,892

-23,301

Net cash provided by (used in) financing activities

867,577

-145,419

-76,985

-69,109

198,659

285,262

42,372

130,898

-6,146

272,199

108,814

81,180

38,492

-948

-3,469

107,518

-100,471

72,084

137,486

-248,770

47,229

-286,121

-99,100

-150,298

-80,768

-46,291

13,218

-120,579

-44,198

-185,836

-1,081,845

-131,580

-82,320

1,877

42,562

-116,563

-52,595

-43,688

-226,212

-96,711

58,652

96,340

Increase (decrease) in cash and cash equivalents

1,011,769

64,647

129,330

10,274

-3,821

14,725

-77,269

89,111

-52,905

-3,357

-46,182

92,855

-132,441

-51,530

-79,687

253,971

-29,875

21,910

-65,501

-325,514

132,295

-239,074

-79,461

253,068

-359,112

763,785

-443,294

-135,202

144,761

-114,132

-212,336

73,419

-19,564

93,909

157,842

-253,801

69,073

-45,734

-240,321

209,118

-17,008

438,445

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Non-cash investing activities
Real estate acquired through foreclosure

45

272

170

1,416

137

116

2,515

188

556

773

943

189

545

1,589

-450

2,612

5,227

5,308

2,903

5,905

11,075

8,852

13,651

11,920

10,942

9,956

-

-

-

22,762

36,489

51,016

30,692

42,774

47,820

11,475

21,870

31,528

-

-

-

-

Fair value of assets and intangibles acquired, including goodwill

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-142

17,273

-2,420

65,531

-

-

-

810,766

0

-132

132

124,594

0

0

0

0

-

-

-

-

Non-cash financing activities
Stock issued upon exercise of warrants

0

0

0

0

0

1,082

78

75

0

3,761

86

3,510

2,513

1,523

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Covered real estate acquired through foreclosure

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

51

-

5,327

657

179

-

-

-

3,096

2,811

6,790

832

5,472

8,630

12,933

14,630

18,445

10,077

19,753

4,706

0

Cash paid during the period for
Interest

41,994

45,954

50,537

51,819

47,744

44,177

38,328

34,524

30,884

29,986

28,414

27,320

26,862

28,737

28,499

28,682

28,130

29,195

27,715

26,318

27,540

34,653

31,248

31,986

31,855

33,644

-

-

-

37,457

47,930

48,635

49,394

53,776

53,933

55,032

56,405

63,074

65,724

67,359

67,523

68,872

Non-covered real estate acquired through foreclosure

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

71,758

66,367

Income taxes

-

-

-

-

-

-

10,100

8,895

20,040

5,225

20,850

16,325

16,903

0

21,218

20,044

27,237

8

17,624

15,579

32,494

23

10,300

16,500

37,808

-236

-

-

-

0

11,265

16,384

31,947

0

32,171

31,375

10,250

2

14

69

13,270

14,150