WAFD

EX-99.1

2 exhibit991_sep2026earnings.htm

EX-99.1

Document

Exhibit 99.1

Thursday, October 15, 2026

FOR IMMEDIATE RELEASE

WaFd Announces Fiscal 2026 Earnings and 22% Increase in EPS

Fiscal Year Highlights

$256 Million$3.210.94%10.68%

Net IncomeDiluted Earnings per Common ShareReturn on Average Assets Return on Tangible Common Equity (1)

Fourth Quarter Highlights

$60 Million$0.760.87%9.85%

Net IncomeDiluted Earnings per Common ShareReturn on Average Assets Return on Tangible Common Equity (1)

We are pleased to report the results for our fiscal year end 2026, including increasing earnings per share by 22%, increasing our transaction deposit balances by 4.6%, and growing our active loan segments by 7.9% along with seeing significant improvements in asset quality measures. Specifically, both non-performing assets and delinquencies decreased by 37% since the June 30th quarter end. Asset quality measures improved primarily through the resolution of a large previously classified loan during the quarter resulting in a $36 million charge-off. Our balance sheet strength and resiliency were demonstrated this quarter, allowing us to handle the classified loan, while still delivering meaningful improvement in earnings to shareholders. In spite of the recent surge in interest rates to their highest level in the last twenty years, with the 10 year bond at levels above 5.20%, WaFd is well positioned to benefit from rising rates as our assets are expected to reprice more quickly than our liabilities resulting in expansion of our margin over the short term. "

Brent Beardall

President and CEO of WaFd Bank

Net Interest Income and NIM

■$182.4 million net interest income for the quarter compared to $181.3 million in Q3.

■Net interest margin at 2.81% for the quarter compared to 2.81% for Q3.

Credit Quality

■Non-performing assets down $57 million at 0.32% of total assets compared to 0.49% as of June 2026.

■Delinquencies down $56 million to 0.50% of total loans compared to 0.75% as of June 2026.

■Net Charge-offs of $39 million taken in Q4.

Non-Interest Income and Expense

■Non-interest income up $13.9 million compared to Q3 due to SFR loan sale.

■Non-interest expense up $11.2 million compared to Q3 due to strategic investments and merger related expenses.

■Efficiency ratio increased to 55.12% as a result.

Shareholder Returns and Stock Activity

■On September 4, 2026, the Company paid a cash dividend of $0.27 per share, 174th consecutive quarterly dividend paid.

■EverBank Merger announced on September 7, 2026

1Metric is a non-GAAP Financial Measure. See page 9 for additional information on our use of non-GAAP Financial Measures.

Quarterly Earnings Release Q4 2026

1

WaFd Inc. Announces Annual and Fourth Quarter Results

The following table provides the Company's financial scorecard for the last five quarters:

As of

(In thousands, except share and ratio data)September 30, 2026June 30, 2026March 31, 2026December 31, 2025September 30, 2025

BALANCE SHEET

Cash$749,696 $676,467 $669,799 $734,915 $657,310

Loans receivable, net19,041,263 20,017,876 19,966,983 19,848,156 20,088,618

Allowance for credit losses ("ACL")214,594 233,831 224,450 221,039 221,220

Loans held for sale428,944 — — — —

Available-for-sale securities, at fair value4,048,405 4,190,263 4,352,258 4,142,285 3,533,201

Held-to-maturity securities, at amortized cost886,881 858,261 745,727 764,794 645,802

Total investments4,935,286 5,048,524 5,097,985 4,907,079 4,179,003

Total assets27,230,636 27,596,970 27,568,785 27,285,744 26,699,699

Transaction deposits12,875,849 12,745,791 12,746,921 12,865,974 12,306,532

Time deposits8,445,118 8,186,284 8,377,230 8,550,996 9,131,104

Total deposits21,320,967 20,932,075 21,124,151 21,416,970 21,437,636

Borrowings, senior debt and junior subordinated debentures2,545,972 3,315,697 3,114,548 2,488,411 1,817,249

Total shareholders' equity3,000,469 3,022,569 2,981,283 3,029,407 3,039,575

Loans to customer deposits2 89.31%95.63%94.52%92.67%93.71%

PROFITABILITY

Net income$59,991 $66,130 $65,548 $64,196 $60,597

Net income to common shareholders56,335 62,474 61,892 60,540 56,941

Earnings per common share0.76 0.84 0.82 0.79 0.72

Return on tangible common equity1 9.85%11.04%10.82%10.57%9.99%

Return on tangible assets1 0.89%0.97%0.97%0.97%0.93%

Net interest margin2.81%2.81%2.81%2.70%2.71%

Efficiency ratio55.12%53.69%55.66%55.25%56.82%

FINANCIAL HIGHLIGHTS

Common shareholders' equity per share$36.48 $36.81 $36.30 $35.70 $35.04

Tangible common shareholders' equity per share1 30.51 30.82 30.27 29.91 29.38

Shareholders' equity to total assets11.02%10.95%10.81%11.10%11.38%

Tangible shareholders' equity to tangible assets1 9.55%9.50%9.35%9.64%9.89%

Common shares outstanding74,016,318 73,954,133 73,855,919 76,448,351 78,186,520

Preferred shares outstanding300,000 300,000 300,000 300,000 300,000

CREDIT QUALITY2

ACL to gross loans1.04%1.08%1.05%1.05%1.04%

Non-accrual loans to net loans0.40%0.64%0.6