WASHINGTON FEDERAL INC WAFD Income Statement

Washington federal inc (WAFD)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Jun'09
INTEREST INCOME
Loans receivable
138,549	142,146	144,480	145,490	141,061	137,065	133,226	131,541	126,529	124,511	122,197	117,457	116,034	114,835	114,283	113,728	113,211	112,863	112,185	107,250	109,274	108,293	109,200	108,089	106,334	107,227	112,261	112,932	112,879	116,843	115,467	118,115	123,772	127,479	127,944	127,736	128,634	137,916	139,557	141,744	142,317	137,451	141,120
Mortgage-backed securities
14,341	15,612	17,231	18,719	19,343	19,192	17,819	18,022	17,667	16,899	15,605	15,992	16,226	12,789	13,819	15,297	16,846	16,987	17,079	16,995	18,143	19,175	19,417	20,507	20,968	19,368	14,195	11,951	10,642	11,732	16,063	25,101	28,682	26,296	27,821	30,529	26,163	23,694	21,607	21,790	21,097	27,281	27,919
Investment securities and cash equivalents
6,728	7,066	7,725	7,617	7,178	6,365	6,107	5,509	4,883	4,370	4,438	4,267	3,938	5,140	4,769	4,710	5,006	5,274	6,618	5,055	5,213	5,273	6,460	6,415	5,049	4,663	3,845	3,293	2,984	2,734	2,850	2,168	2,127	2,151	3,210	3,266	3,742	3,980	4,321	3,837	1,620	938	762
Interest and Dividend Income, Operating
159,618	164,824	169,436	171,826	167,582	162,622	157,152	155,072	149,079	145,780	142,240	137,716	136,198	132,764	132,871	133,735	135,063	135,124	135,882	129,300	132,630	132,741	135,077	135,011	132,351	131,258	130,301	128,176	126,505	131,309	134,380	145,384	154,581	155,926	49,119	161,531	101,555	104,734	-35,530	99,285	165,034	165,670	169,801
INTEREST EXPENSE
Customer accounts
28,638	31,481	33,640	32,331	29,666	26,579	22,553	18,887	16,414	14,638	13,850	12,764	12,392	13,017	13,423	13,274	13,071	12,717	12,550	12,485	12,574	13,445	14,007	14,238	14,780	15,499	16,051	16,385	16,695	18,772	20,071	20,903	22,016	23,949	26,070	27,581	29,450	32,734	34,495	37,682	37,698	36,485	44,062
FHLB advances
13,368	13,658	15,624	17,829	17,846	16,891	15,348	16,333	15,364	15,407	15,958	16,337	16,079	16,595	16,633	16,221	15,667	15,538	16,479	16,250	16,176	17,113	17,677	17,494	16,935	17,447	17,291	17,075	16,787	17,103	22,138	27,946	27,963	28,263	28,387	27,818	27,534	28,122	30,621	30,404	30,296	31,420	31,486
Interest expense
42,006	45,139	49,264	50,160	47,512	43,470	37,901	35,220	31,778	30,045	29,808	29,101	28,471	29,612	30,056	29,495	28,738	28,255	29,029	28,735	28,750	30,558	31,684	31,732	31,715	32,946	33,342	33,460	33,482	35,875	42,209	48,849	49,979	52,212	54,457	55,399	56,984	60,856	65,116	68,086	67,994	67,905	75,548
Net interest income
117,612	119,685	120,172	121,666	120,070	119,152	119,251	119,852	117,301	115,735	112,432	108,615	107,727	103,152	102,815	104,240	106,325	106,869	106,853	100,565	103,880	102,183	103,393	103,279	100,636	98,312	96,959	94,716	93,023	95,434	92,171	96,535	104,602	103,714	214,374	106,132	158,539	165,590	301,384	167,371	97,040	97,765	94,253
Provision (release) for credit losses
6,200	-1,000	-1,900	0	750	-500	-5,500	1,000	-950	0	-500	0	-1,600	0	-3,100	-1,650	-1,500	0	219	-1,932	-3,949	-5,500	-3,465	-3,000	-4,336	-4,600	-2,250	0	0	3,600	5,378	10,367	18,000	11,210	15,354	21,000	30,750	26,000	26,000	20,736	63,423	69,750	52,200
Net interest income after provision (release)
111,412	120,685	122,072	121,666	119,320	119,652	124,751	118,852	118,251	115,735	112,932	108,615	109,327	103,152	105,915	105,890	107,825	106,869	106,634	102,497	107,829	107,683	106,858	106,279	104,972	102,912	99,209	94,716	93,023	91,834	86,793	86,168	86,602	92,504	89,164	85,132	70,805	78,734	74,369	78,549	33,617	28,015	42,053
OTHER INCOME
Gain (loss) 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	-	9,639	-	-	-	0	-	-	-	-	-	-	95,234	0	0	0	-	0	8,147	-	1,981	0	0	20,428	959
Prepayment penalty on long-term debt
-13,809	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
FDIC loss share termination valuation adjustments
-	-	-	0	-	-	0	0	0	-8,550	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loan fee income
3,048	1,804	970	1,334	667	970	895	1,094	780	1,035	980	889	1,087	1,334	1,764	1,101	1,166	1,517	2,760	1,915	2,048	2,065	2,039	2,297	1,324	2,046	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Prepayment penalty on long-term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,941	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on FDIC-assisted transaction
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	85,608	-	0
Other income
5,875	38,312	8,992	6,450	6,257	11,805	4,946	4,946	5,404	7,624	5,910	7,319	4,145	4,409	8,248	4,088	4,213	3,201	6,321	3,042	3,388	-2,662	2,873	1,739	1,997	2,038	-	-	-	-	-6,679	3,590	5,028	4,645	4,719	4,277	4,364	4,426	6,153	5,154	5,446	3,810	4,386
Other income, total
16,241	46,376	16,457	14,042	12,810	19,009	12,245	12,451	12,587	6,795	16,261	13,922	10,136	11,896	15,186	10,486	10,729	10,635	12,391	11,811	10,841	5,380	10,097	8,072	6,702	5,788	5,871	5,059	6,046	4,957	3,254	3,590	5,028	4,645	4,719	4,277	12,511	4,426	-16	5,154	91,054	24,238	5,345
OTHER EXPENSE
Compensation and benefits
38,617	36,631	32,634	34,297	32,774	33,883	31,087	31,223	31,625	29,619	27,483	28,947	28,833	26,994	26,668	27,333	29,184	29,699	30,486	29,824	30,469	29,160	27,822	28,946	27,836	25,126	22,084	24,582	23,077	21,072	19,487	19,281	20,185	18,675	18,016	18,471	17,824	17,723	15,308	16,756	24,178	13,637	14,522
Occupancy
10,913	10,135	9,797	9,684	9,830	9,268	9,674	9,095	9,013	8,671	8,890	8,829	9,091	8,450	7,492	8,515	8,969	8,592	9,090	8,492	8,239	8,135	8,588	7,468	7,346	7,050	9,796	4,530	4,825	4,446	8,280	3,952	4,094	3,931	3,701	3,628	3,636	3,515	3,574	3,711	3,399	3,249	3,215
FDIC insurance premiums
2,470	2,470	2,409	2,559	1,978	2,862	2,970	2,950	2,852	2,820	2,819	2,842	2,910	2,839	3,581	2,869	2,785	2,589	2,485	2,377	2,380	674	2,330	2,978	2,767	2,934	2,934	2,831	3,107	3,342	3,550	4,000	4,350	4,193	5,283	5,100	5,100	5,099	5,314	4,874	4,874	3,564	6,779
Product delivery
3,897	4,267	4,456	3,912	3,545	4,021	4,395	4,356	3,665	3,956	3,876	3,246	3,489	3,361	3,421	3,822	4,294	5,523	5,103	6,175	5,420	5,627	3,401	4,577	4,066	2,929	3,029	660	371	354	-	-	-	-	-	-	-	-	-	-	-	-	-
Information technology
11,501	17,107	11,225	9,935	8,755	9,040	7,815	10,118	8,781	7,929	9,105	6,617	6,686	6,451	7,150	7,669	7,453	8,710	4,281	3,783	3,882	4,030	5,549	3,505	3,931	1,318	3,338	2,371	2,852	2,438	-	-	-	-	-	-	-	-	-	-	-	-	-
Other expense
12,035	12,026	12,005	10,511	11,085	12,598	13,676	9,235	9,851	8,946	10,476	6,581	6,458	6,246	7,095	6,097	6,541	9,396	5,763	6,068	6,934	5,974	6,847	5,819	6,113	4,763	1,987	6,636	6,932	6,646	-8,495	8,730	8,183	7,564	7,818	6,975	6,761	7,942	7,257	7,536	7,510	6,527	6,417
Other expense, total
79,433	82,636	72,526	70,898	67,967	71,672	69,617	66,977	65,787	61,941	62,649	57,062	57,467	54,341	55,407	56,305	59,226	64,509	57,208	56,719	57,324	53,600	54,537	53,293	52,059	44,120	43,168	41,610	41,164	38,298	35,716	35,963	36,812	34,363	34,285	34,174	33,321	34,279	31,665	32,877	39,961	26,977	30,933
Gain (loss) on real estate owned, net
31	-886	-671	353	808	320	-38	168	-278	46	425	-124	795	398	-355	5,087	3,894	1,420	4,328	3,188	1,473	315	711	-2,056	553	-1,951	5,287	176	-4,003	-3,319	1,187	1,146	-1,582	-10,570	-11,681	-8,171	-9,645	-10,553	-20,089	-31,031	-16,635	-12,720	-4,786
Income before income taxes
48,251	83,539	65,332	65,163	64,971	67,309	67,341	64,494	64,773	60,635	66,969	65,351	62,791	61,105	65,339	65,158	63,222	54,415	66,145	60,777	62,819	59,778	63,129	59,002	60,168	62,629	67,199	58,341	53,902	55,174	55,518	54,941	53,236	52,216	47,917	47,064	40,350	38,328	22,599	19,795	68,075	12,556	11,679
Income tax expense
10,301	17,836	12,970	11,309	13,873	14,367	15,826	13,100	15,502	8,965	20,865	21,239	20,721	19,859	21,115	22,154	21,499	19,317	23,647	21,727	22,458	21,371	22,568	21,092	21,511	22,393	24,292	21,003	17,924	19,892	19,987	19,778	19,165	18,798	17,251	16,943	14,526	13,798	6,636	7,127	-14,036	4,645	5,646
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	35,531	35,163	34,071	33,418	30,666	30,121	25,824	24,530	15,963	12,668	82,111	7,911	6,033
PER SHARE DATA
Preferred dividends accrued
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,533
Net income available to common shareholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,500
Basic earnings per share (in dollars per share)
0.49	0.84	0.66	0.67	0.63	0.65	0.62	0.61	0.58	0.59	0.53	0.49	0.47	0.46	0.49	0.47	0.45	0.38	0.46	0.41	0.42	0.39	0.41	0.38	0.38	0.39	0.42	0.36	0.34	0.33	0.33	0.33	0.32	0.31	0.28	0.27	0.23	0.22	0.14	0.11	0.73	0.08	0.03
Diluted earnings per share (in dollars per share)
0.49	0.84	0.66	0.67	0.63	0.65	0.63	0.61	0.57	0.59	0.52	0.49	0.47	0.46	0.48	0.47	0.45	0.38	0.45	0.41	0.42	0.39	0.41	0.37	0.38	0.39	0.42	0.36	0.34	0.33	0.33	0.33	0.32	0.31	0.28	0.27	0.23	0.22	0.14	0.11	0.73	0.07	0.03
Dividends paid on common stock per share (in dollars per share)
0.22	0.21	0.21	0.20	0.20	0.18	0.18	0.17	0.17	0.15	0.15	0.15	0.40	0.14	0.14	0.14	0.14	0.13	0.13	0.13	0.13	0.15	0.11	0.10	0.10	0.10	-	-	-	-	-	0.08	0.08	0.08	0.06	0.06	0.06	0.06	0.05	0.05	0.05	0.05	0.05
Basic weighted average number of shares outstanding (in shares)
76,987	78,480	79,148	79,976	80,968	81,791	83,277	84,168	85,647	86,938	87,728	89,199	89,382	89,310	89,903	90,928	91,777	92,986	93,590	94,466	96,373	98,147	99,293	100,979	102,013	102,329	103,390	104,143	105,206	105,998	106,513	106,877	107,198	107,845	109,599	111,158	112,278	112,499	112,478	112,470	112,450	112,353	88,047
Diluted weighted average number of shares outstanding (in shares)
77,007	78,535	79,166	79,992	80,990	81,831	83,357	84,252	85,747	87,082	87,932	89,497	89,736	89,731	90,457	91,468	92,147	93,577	94,061	94,904	96,725	98,524	99,665	101,393	102,488	102,813	103,855	104,192	105,258	106,043	106,537	106,926	107,237	107,894	109,678	111,248	112,411	112,502	112,894	112,705	112,798	112,583	88,082
Deposit Account
Deposit fee income
6,099	6,260	6,495	6,258	5,886	6,243	6,404	6,411	6,403	6,686	6,840	5,714	4,904	5,185	5,174	5,297	5,350	5,917	5,921	5,156	5,405	5,977	5,185	4,036	3,381	1,704	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-