WaFd Posts Strong Q4 2026 Earnings, Explores Long-Term Prospects as EverBank Merger Looms
WaFd, Inc., a leading financial institution, has reported robust fourth-quarter and fiscal year-end earnings for 2026. During the company's recent conference call, President and CEO Brent Beardall highlighted the strong performance, citing a 22% increase in earnings per share compared to the prior year.
The company's standalone results showed net income available to common shareholders of $56.3 million or $0.76 per diluted share for the quarter ended September 30th, 2026. This represents a modest decrease from the previous quarter but still demonstrates a strong performance considering market conditions. For the full year, WaFd reported net income available to common shareholders of $241.2 million or $3.21 per diluted share.
Chief Financial Officer Kelli Holz provided further insights into the company's financial performance during the conference call. She noted that loan sales activity contributed to increased non-interest income and helped offset increased provisions for loan losses and merger-related expenses. Notably, loans receivable decreased by $977 million due to these sale activities, while active loan types, such as commercial real estate and multifamily loans, saw an increase of $237 million.
"We are proud to deliver our second-best year ever in terms of after-tax net income," said Beardall during the call. "Our team has worked tirelessly to position WaFd for success, and we're confident that our merger with EverBank will only strengthen our position in the market." The planned merger, announced on September 7th this year, aims to create a more comprehensive financial institution.
Beardall also discussed short-term prospects, citing a promising outlook for earnings despite current economic uncertainty. He emphasized WaFd's commitment to delivering value to shareholders and customers alike.
"We will continue to prioritize our core values of community focus, customer satisfaction, and fiscal discipline," Beardall stated. "Our partnership with EverBank will enable us to expand our offerings, reach new markets, and drive long-term growth."
WaFd's decision to sell $429 million worth of multifamily loans in the first quarter of fiscal 2027 has raised expectations for a net gain of approximately $7 million upon completion. The company remains optimistic about its future prospects and is poised to capitalize on opportunities created by the merger.
