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Get filing alertsWaFd reports Q3 net income $66.1M, unveils Build 2030 plan to shift $8B to commercial
Filed July 28, 2026 · Period ending July 27, 2026 · ~1 min read
Key Changes
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high
Q3 2026 net income $66.1M ($0.84 EPS), up from Q2's $65.6M ($0.82 EPS); NIM flat at 2.81%.
Exhibit 99.1 view on EDGAR → -
high
Build 2030 plan targets redeploying $8B from single-family residential to commercial loans (≥6% yield), shifting 20% of interest-bearing deposits to non-interest bearing via small business focus; projects 16.7% ROATCE and 3.60% NIM.
Exhibit 99.1 view on EDGAR → -
high
Repurchased 4.7M shares YTD at $30.99 average; total capital return $205.7M exceeded net income $184.9M (111% payout ratio).
Exhibit 99.1 view on EDGAR → -
medium
Non-performing assets 0.49% of total assets; allowance for credit losses $215M covers 168% of NPLs.
Exhibit 99.1 view on EDGAR → -
low
Furnished investor presentation for upcoming institutional meetings under Regulation FD.
Item 7.01 verify on EDGAR →
Summary
WaFd disclosed Q3 2026 results and a multi-year strategic pivot in an investor presentation furnished ahead of institutional meetings. Net income of $66.1 million ($0.84 per share) edged up sequentially, while net interest margin held at 2.81%. Asset quality remains strong with non-performing assets at 0.49% of total assets and credit loss reserves covering 168% of problem loans.
The company returned $205.7 million to shareholders year-to-date through dividends and 4.7 million shares repurchased at $30.99 average—a combined payout exceeding net income by 11%.
The Build 2030 plan represents a significant business model shift: WaFd intends to redeploy $8 billion from single-family residential loans into commercial loans yielding at least 6%, and convert 20% of interest-bearing deposits to non-interest bearing accounts by targeting small business customers. Management projects the strategy will lift net interest margin to 3.60% and return on tangible common equity to 16.7%. Execution risk centers on whether the bank can originate $8 billion of commercial loans at target yields while simultaneously growing small business deposits in a competitive market. The timeline and quarterly milestones for the redeployment are not disclosed.
Section-by-Section Diff
Event · Item 7.01 — Regulation FD Disclosure
Item 7.01 — Regulation FD Disclosure filed; see Key Changes for terms.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
WaFd, Inc. is hereby furnishing a slide presentation that executive management intends to use in meetings with institutional investors and industry analysts. The slide presentation is included as Exhibit 99.1 to this report and will be available on WaFd Bank's investor relations website at https://www.wafdbank.com/about-us/investor-relations.
The company is furnishing a slide presentation that management will use in upcoming meetings with institutional investors and analysts. The presentation is attached as Exhibit 99.1 and will be posted on the investor relations website. This is a routine disclosure under Item 7.01 Regulation FD, ensuring all investors have equal access to information management shares in private meetings.
Event · Exhibit 99.1
Added in current filing · view on EDGAR → · paraphrased
2.81% Q2 2026 ... 2.81% Q3 2026
Net interest margin remained flat at 2.81% between Q2 and Q3 2026, but improved from 2.69% in Q3 2025. The presentation shows deposit rate increases were offset by loan rate improvements and other factors, with the bank maintaining interest rate sensitivity that would benefit from rate cuts.
Added in current filing · view on EDGAR →
4,696,915 shares were repurchased in YTD fiscal 2026 with a weighted price of $30.99
WaFd repurchased 4.7 million shares year-to-date through June 30, 2026, at an average price of $30.99 per share, representing 6.0% of shares outstanding at the beginning of the year. Combined with dividends, the company returned $205.7 million to shareholders, exceeding net income of $184.9 million (111% payout ratio).
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 29, 2026 · How we verify