WaFd, Inc. reported net income available to common shareholders of $62.5 million or $0.84 per diluted share for the quarter ended June 30, 2026, and said it is targeting 8% to 12% growth in its active loan portfolio going forward. President, CEO and Vice Chairman Brent Beardall highlighted that loan growth was concentrated in business lending, with commercial and industrial loans being the biggest contributor from a percentage standpoint, and tied the strategy to the company's Build 2030 plan. Executive Vice President and CFO Kelli Holz stated that absent any changes in interest rates, the net interest margin is expected to be relatively flat for the next quarter, while noting that $160 million of deferred income from the Luther Burbank acquisition is being accreted into income at a rate of $6 million to $7 million per quarter. Nonperforming assets increased slightly to $136 million or 0.49% of total assets from $132 million or 0.48% at March 31, 2026, and the net provision for credit losses in the quarter was $11 million. Management also discussed potential capital relief from proposed Basel III Endgame revisions, which could reduce risk-weighted assets by approximately 12.5% and represent an estimated $300 million of total risk-based capital relief, with implementation possible by the end of this calendar year.
WaFd, Inc.Company reports net income of $62.5M, targets 8-12% loan growth, and expects flat NIM with accretive income from acquisition.