WaFd Announces Earnings Growth and Strategic Moves in Q4 2026
On its fourth-quarter earnings call held on October 16, 2026, WaFd (WAFD) reported a 22% year-over-year increase in full-year earnings per share. The bank is shifting capital away from low-yielding residential mortgages and plans to merge with EverBank by early 2027. During the quarter, WaFd sold $543 million of single-family loans and agreed to sell an additional $429 million of multifamily loans in Q1 2027. Management emphasized reallocating these funds into higher-yielding opportunities. A one-time impairment loss of $54 million from a commercial loan default was noted, but executives described it as an outlier. The merger with EverBank is expected to enhance deposit profitability and allow WaFd to revalue its mortgage portfolio at market rates. Management anticipates net interest margin expansion in the coming quarters due to faster repricing on earning assets compared to liabilities.
Tickers: $WAFD
Topics: banking capital reallocation earnings call loan impairment merger
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