WaFd Inc
wafdbank.comWaFd Inc (NASDAQ: WAFD) is a commercial banking company that originates loans, accepts deposits, and provides related financial services. It earns money primarily through net interest income, the spread between interest earned on loans and mortgage-backed securities and interest paid on customer deposits and borrowings. For the year ended September 30, 2025, total interest-earning assets averaged $25.3 billion, generating $1.34 billion in interest income at an average rate of 5.29%. Loans receivable averaged $20.7 billion and produced $1.12 billion in interest income. Interest-bearing customer accounts averaged $18.7 billion. Non-interest income includes prepayment fees on loans and commissions from WaFd Insurance, the company's insurance subsidiary. Total non-interest expense was $427.5 million for the year ended September 30, 2025, down 4.6% from $448.3 million in the prior year. The efficiency ratio improved to 58.9% for FY2025 from 62.1% for FY2024. Total assets averaged $27.1 billion for the year ended September 30, 2025.
Products & Services
Commercial loans, loans receivable, mortgage-backed securities investments, interest-bearing customer deposit accounts, noninterest-bearing customer accounts, and insurance products through WaFd Insurance subsidiary.
Revenue Model
Net interest income from the spread between loan and investment yields and deposit funding costs, supplemented by non-interest income including loan prepayment fees and insurance commissions from WaFd Insurance.
Customers & Markets
Retail and commercial deposit customers, loan borrowers including commercial and real estate clients. The company exited single-family lending as part of a strategic shift reflected in FY2025 restructuring costs.
Geographic Exposure
United States. The company operates branches across multiple states; subject to state income, franchise, excise, or gross receipts tax in states where it has branches or sufficient nexus, per the FY2025 10-K.
Financial Snapshot
Loading...
