Attached files
| file | filename |
|---|---|
| 8-K - WAFD APR 17 2012 8-K_MAR 31 2012 EARNINGS RELEASE - WASHINGTON FEDERAL INC | wafd8-k_april122012.htm |
| EX-99.1 - WAFD APR 17 2012 8-K_EXHIBIT 99.1 - WASHINGTON FEDERAL INC | mar312012pressrelease_exhi.htm |
Washington Federal, Inc.
Fact Sheet
March 31, 2012
($ in Thousands)
Exhibit 99.2 | |||||||||||||||||||||
9/11 QTR | 12/11 QTR | 3/12 QTR | |||||||||||||||||||
Loan Loss Reserve - Total | $ | 157,160 | $ | 154,540 | $ | 143,819 | |||||||||||||||
General | 115,248 | 114,552 | 114,039 | ||||||||||||||||||
Specific | 41,912 | 39,988 | 29,781 | ||||||||||||||||||
Allowance as a % of Gross Loans | 1.89 | % | 1.88 | % | 1.79 | % | |||||||||||||||
Regulatory Capital Ratios (excludes holding co.) | |||||||||||||||||||||
Tangible | 1,543,437 | 11.82% | 1,549,770 | 11.73% | 1,557,847 | 11.76% | |||||||||||||||
Core | 1,543,437 | 11.82 | 1,549,770 | 11.73 | 1,557,847 | 11.76 | |||||||||||||||
Risk Based | 1,624,817 | 24.68 | 1,632,494 | 24.96 | 1,638,680 | 25.61 | |||||||||||||||
9/11 QTR | 9/11 YTD | 12/11 QTR | 3/12 QTR | 3/12 YTD | |||||||||||||||||
Loan Originations - Total | $ | 319,030 | $ | 1,307,590 | $ | 285,763 | $ | 263,768 | $ | 549,531 | |||||||||||
Single-Family Residential | 120,428 | 557,902 | 121,430 | 114,954 | 236,384 | ||||||||||||||||
Construction - Speculative | 36,510 | 126,042 | 31,389 | 27,951 | 59,340 | ||||||||||||||||
Construction - Custom | 82,204 | 289,113 | 51,420 | 38,184 | 89,604 | ||||||||||||||||
Land - Acquisition & Development | 2,361 | 14,957 | 1,994 | 3,714 | 5,708 | ||||||||||||||||
Land - Consumer Lot Loans | 1,976 | 9,968 | 1,452 | 3,027 | 4,479 | ||||||||||||||||
Multi-Family | 15,007 | 122,618 | 38,431 | 30,135 | 68,566 | ||||||||||||||||
Commercial Real Estate | 5,928 | 18,120 | 22,215 | 10,900 | 33,115 | ||||||||||||||||
Commercial & Industrial | 45,135 | 134,940 | 8,239 | 26,637 | 34,876 | ||||||||||||||||
HELOC | 9,481 | 33,711 | 9,193 | 8,266 | 17,459 | ||||||||||||||||
Consumer | — | 219 | — | — | — | ||||||||||||||||
1 of 11
Washington Federal, Inc.
Fact Sheet
March 31, 2012
($ in Thousands)
9/11 QTR | 9/11 YTD | 12/11 QTR | 3/12 QTR | 3/12 YTD | |||||||||||||||||
Loan Servicing Fee Income | $ | 1,923 | $ | 7,211 | $ | 1,774 | $ | 2,052 | $ | 3,826 | |||||||||||
Other Fee Income | 956 | 3,471 | 1,170 | 775 | 1,945 | ||||||||||||||||
Total Fee Income | 2,879 | 10,682 | 2,944 | 2,827 | 5,771 | ||||||||||||||||
9/11 QTR | 9/11 YTD | 12/11 QTR | 3/12 QTR | 3/12 YTD | |||||||||||||||||
Operating Expenses/Average Assets | 1.02 | % | 1.01 | % | 1.01 | % | 1.08 | % | 1.05 | % | |||||||||||
Efficiency Ratio | 31.39 | 31.30 | 31.71 | 33.58 | 32.65 | ||||||||||||||||
Amortization of Intangibles | $ | 345 | $ | 1,447 | $ | 380 | $ | 407 | $ | 787 | |||||||||||
Repayments | 9/11 QTR | 9/11 YTD | 12/11 QTR | 3/12 QTR | 3/12 YTD | ||||||||||||||||
Loans | $ | 399,013 | $ | 1,822,128 | $ | 525,313 | $ | 439,112 | $ | 964,425 | |||||||||||
MBS | 156,512 | 648,380 | 335,274 | 294,904 | 630,178 | ||||||||||||||||
EOP Numbers | 9/11 QTR | 12/11 QTR | 3/12 QTR | ||||||||||||||||||
Shares Issued and Outstanding | 108,976,410 | 107,460,435 | 106,867,527 | ||||||||||||||||||
Share repurchase information | 9/11 QTR | 9/11 YTD | 12/11 QTR | 3/12 QTR | 3/12 YTD | ||||||||||||||||
Remaining shares auth. for repurchase | 9,083,514 | 9,083,514 | 7,533,514 | 6,908,314 | 6,908,314 | ||||||||||||||||
Shares repurchased | 1,500,000 | 3,804,800 | 1,550,000 | 625,200 | 2,175,200 | ||||||||||||||||
Average share repurchase price | $ | 15.37 | $ | 15.68 | $ | 13.11 | $ | 16.00 | $ | 13.93 | |||||||||||
2 of 11
Washington Federal, Inc.
Fact Sheet
March 31, 2012
($ in Thousands)
Tangible Common Book Value | 9/11 QTR | 12/11 QTR | 3/12 QTR | ||||||||||||||
$ Amount | $ | 1,650,262 | $ | 1,653,435 | $ | 1,650,807 | |||||||||||
Per Share | 15.14 | 15.39 | 15.45 | ||||||||||||||
# of Employees | 1,221 | 1,241 | 1,248 | ||||||||||||||
Tax Rate - Going Forward | 36.00 | % | 36.00 | % | 36.00 | % | |||||||||||
Investments | 9/11 QTR | 12/11 QTR | 3/12 QTR | ||||||||||||||
Available-for-sale: | |||||||||||||||||
Agency MBS | $ | 3,011,090 | $ | 3,343,771 | $ | 3,372,397 | |||||||||||
Other | 244,054 | 204,305 | 315,228 | ||||||||||||||
$ | 3,255,144 | $ | 3,548,076 | $ | 3,687,625 | ||||||||||||
Held-to-maturity: | |||||||||||||||||
Agency MBS | $ | 45,086 | $ | 41,431 | $ | 37,912 | |||||||||||
Other | 1,950 | 795 | 795 | ||||||||||||||
$ | 47,036 | $ | 42,226 | $ | 38,707 | ||||||||||||
3 of 11
Washington Federal, Inc.
Fact Sheet
March 31, 2012
($ in Thousands)
AS OF 9/30/11 | AS OF 12/31/11 | AS OF 3/31/12 | ||||||||||||||||||
Gross Loan Portfolio by Category * | AMOUNT | % | AMOUNT | % | AMOUNT | % | ||||||||||||||
Single-Family Residential | $ | 6,218,878 | 74.9 | % | $ | 6,082,490 | 74.1 | % | $ | 5,973,633 | 74.4 | % | ||||||||
Construction - Speculative | 140,459 | 1.7 | % | 130,120 | 1.6 | % | 128,857 | 1.6 | % | |||||||||||
Construction - Custom | 279,851 | 3.4 | % | 271,227 | 3.3 | % | 235,566 | 2.9 | % | |||||||||||
Land - Acquisition & Development | 200,692 | 2.4 | % | 175,965 | 2.1 | % | 156,458 | 1.9 | % | |||||||||||
Land - Consumer Lot Loans | 163,146 | 2.0 | % | 154,874 | 1.9 | % | 149,966 | 1.9 | % | |||||||||||
Multi-Family | 700,673 | 8.4 | % | 689,149 | 8.4 | % | 687,696 | 8.6 | % | |||||||||||
Commercial Real Estate | 303,442 | 3.7 | % | 415,394 | 5.1 | % | 394,489 | 4.9 | % | |||||||||||
Commercial & Industrial | 109,332 | 1.3 | % | 93,792 | 1.1 | % | 102,685 | 1.3 | % | |||||||||||
HELOC | 115,092 | 1.4 | % | 132,089 | 1.6 | % | 130,583 | 1.6 | % | |||||||||||
Consumer | 67,509 | 0.8 | % | 63,243 | 0.8 | % | 71,205 | 0.9 | % | |||||||||||
$ | 8,299,074 | 100 | % | $ | 8,208,343 | 100 | % | $ | 8,031,138 | 100 | % | |||||||||
Less: | ||||||||||||||||||||
ALL | 157,160 | 154,540 | 143,819 | |||||||||||||||||
Loans in Process | 170,229 | 159,437 | 133,379 | |||||||||||||||||
Discount on Acquired Loans | — | 48,929 | 43,687 | |||||||||||||||||
Deferred Net Origination Fees | 35,808 | 35,362 | 34,236 | |||||||||||||||||
363,197 | 398,268 | 355,121 | ||||||||||||||||||
$ | 7,935,877 | $ | 7,810,075 | $ | 7,676,017 | |||||||||||||||
AS OF 9/30/11 | AS OF 12/31/11 | AS OF 3/31/12 | ||||||||||||||||||
Net Loan Portfolio by Category * | AMOUNT | % | AMOUNT | % | AMOUNT | % | ||||||||||||||
Single-Family Residential | $ | 6,107,499 | 77.0 | % | $ | 5,968,821 | 76.4 | % | $ | 5,862,053 | 76.5 | % | ||||||||
Construction - Speculative | 101,005 | 1.3 | % | 88,341 | 1.1 | % | 86,255 | 1.1 | % | |||||||||||
Construction - Custom | 145,934 | 1.8 | % | 159,091 | 2.0 | % | 144,017 | 1.9 | % | |||||||||||
Land - Acquisition & Development | 160,028 | 2.0 | % | 138,749 | 1.8 | % | 128,660 | 1.7 | % | |||||||||||
Land - Consumer Lot Loans | 156,922 | 2.0 | % | 145,923 | 1.9 | % | 141,614 | 1.8 | % | |||||||||||
Multi-Family | 688,694 | 8.7 | % | 665,649 | 8.5 | % | 670,790 | 8.7 | % | |||||||||||
Commercial Real Estate | 294,667 | 3.7 | % | 396,342 | 5.1 | % | 355,912 | 4.6 | % | |||||||||||
Commercial & Industrial | 103,425 | 1.3 | % | 62,592 | 0.8 | % | 95,274 | 1.2 | % | |||||||||||
HELOC | 113,456 | 1.4 | % | 124,280 | 1.6 | % | 123,457 | 1.6 | % | |||||||||||
Consumer | 64,247 | 0.8 | % | 60,287 | 0.8 | % | 67,985 | 0.9 | % | |||||||||||
$ | 7,935,877 | 100 | % | $ | 7,810,075 | 100 | % | $ | 7,676,017 | 100 | % | |||||||||
* Excludes covered loans | ||||||||||||||||||||
4 of 11
Washington Federal, Inc.
Fact Sheet
March 31, 2012
($ in Thousands)
AS OF 9/30/11 | AS OF 12/31/11 | AS OF 3/31/12 | |||||||||||||||||||||||||||
Deposits by State | AMOUNT | % | # | AMOUNT | % | # | AMOUNT | % | # | ||||||||||||||||||||
WA | $ | 4,261,208 | 49.1 | % | 64 | $ | 4,265,429 | 48.1 | % | 64 | $ | 4,257,205 | 48.3 | % | 64 | ||||||||||||||
ID | 590,595 | 6.8 | % | 16 | 583,244 | 6.6 | % | 16 | 586,625 | 6.7 | % | 16 | |||||||||||||||||
OR | 1,374,167 | 15.9 | % | 28 | 1,343,553 | 15.1 | % | 28 | 1,352,292 | 15.4 | % | 28 | |||||||||||||||||
UT | 344,655 | 4.0 | % | 10 | 340,278 | 3.8 | % | 10 | 338,766 | 3.9 | % | 10 | |||||||||||||||||
NV | 214,057 | 2.5 | % | 4 | 204,034 | 2.3 | % | 4 | 203,674 | 2.3 | % | 4 | |||||||||||||||||
TX | 128,361 | 1.5 | % | 6 | 125,592 | 1.4 | % | 6 | 126,557 | 1.4 | % | 6 | |||||||||||||||||
AZ | 1,283,853 | 14.8 | % | 21 | 1,330,322 | 15.0 | % | 22 | 1,256,135 | 14.3 | % | 22 | |||||||||||||||||
NM | 469,007 | 5.4 | % | 11 | 683,223 | 7.7 | % | 16 | 677,186 | 7.7 | % | 16 | |||||||||||||||||
Total | $ | 8,665,903 | 100.0 | % | 160 | $ | 8,875,675 | 100.0 | % | 166 | $ | 8,798,440 | 100.0 | % | 166 | ||||||||||||||
9/11 QTR | 12/11 QTR | 3/12 QTR | |||||||||||||||||||||||||||
Deposits by Type | AMOUNT | % | AMOUNT | % | AMOUNT | % | |||||||||||||||||||||||
Checking (noninterest) | $ | 235,146 | 2.7 | % | $ | 266,073 | 3.0 | % | $ | 267,031 | 3.0 | % | |||||||||||||||||
NOW (interest) | 543,907 | 6.3 | 584,517 | 6.6 | 594,878 | 6.8 | |||||||||||||||||||||||
Savings (passbook/stmt) | 255,396 | 2.9 | 273,823 | 3.1 | 291,958 | 3.3 | |||||||||||||||||||||||
Money Market | 1,627,738 | 18.8 | 1,725,804 | 19.4 | 1,710,756 | 19.4 | |||||||||||||||||||||||
CD's | 6,003,716 | 69.3 | 6,025,458 | 67.9 | 5,933,817 | 67.5 | |||||||||||||||||||||||
Total | $ | 8,665,903 | 100.0 | % | $ | 8,875,675 | 100.0 | % | $ | 8,798,440 | 100.0 | % | |||||||||||||||||
Deposits greater than $250,000 - EOP | $ | 921,462 | $ | 1,001,418 | $ | 992,794 | |||||||||||||||||||||||
Brokered Deposits | $ | — | $ | — | $ | — | |||||||||||||||||||||||
5 of 11
Washington Federal, Inc.
Fact Sheet
March 31, 2012
($ in Thousands)
9/11 QTR | 12/11 QTR | 3/12 QTR | ||||||||||||||||||
Non-Performing Assets | AMOUNT | % | AMOUNT | % | AMOUNT | % | ||||||||||||||
Non-accrual loans: | ||||||||||||||||||||
Single-Family Residential | 126,624 | 60.3 | % | 121,218 | 65.3 | % | 116,284 | 70.0 | % | |||||||||||
Construction - Speculative | 15,383 | 7.3 | 9,076 | 4.9 | 8,190 | 4.9 | ||||||||||||||
Construction - Custom | 635 | 0.3 | 635 | 0.3 | 539 | 0.3 | ||||||||||||||
Land - Acquisition & Development | 37,339 | 17.7 | 35,149 | 18.9 | 25,036 | 15.1 | ||||||||||||||
Land - Consumer Lot Loans | 8,843 | 4.2 | 6,851 | 3.7 | 5,641 | 3.4 | ||||||||||||||
Multi-Family | 7,664 | 3.6 | 7,028 | 3.8 | 4,530 | 2.7 | ||||||||||||||
Commercial Real Estate | 11,380 | 5.4 | 4,774 | 2.6 | 4,997 | 3.0 | ||||||||||||||
Commercial & Industrial | 1,679 | 0.8 | 8 | — | 1 | — | ||||||||||||||
HELOC | 481 | 0.2 | 611 | 0.3 | 591 | 0.4 | ||||||||||||||
Consumer | 437 | 0.2 | 433 | 0.2 | 344 | 0.2 | ||||||||||||||
Total non-accrual loans | 210,465 | 100.0 | % | 185,783 | 100.0 | % | 166,153 | 100.0 | % | |||||||||||
Total REO | 129,175 | 126,432 | 99,826 | |||||||||||||||||
Total REHI | 30,654 | 31,450 | 20,269 | |||||||||||||||||
Total non-performing assets | $ | 370,294 | $ | 343,665 | $ | 286,248 | ||||||||||||||
Total non-performing assets as a | ||||||||||||||||||||
% of total assets | 2.76 | % | 2.52 | % | 2.11 | % | ||||||||||||||
6 of 11
Washington Federal, Inc.
Fact Sheet
March 31, 2012
($ in Thousands)
9/11 QTR | 12/11 QTR | 3/12 QTR | ||||||||||||||||||
AMOUNT | % | AMOUNT | % | AMOUNT | % | |||||||||||||||
Restructured loans: | ||||||||||||||||||||
Single-Family Residential | $ | 309,372 | 82.0 | % | $ | 322,669 | 80.3 | % | $ | 352,622 | 82.6 | % | ||||||||
Construction - Speculative | 15,481 | 4.1 | 18,782 | 4.7 | 20,485 | 4.8 | ||||||||||||||
Construction - Custom | — | — | 1,196 | 0.3 | — | — | ||||||||||||||
Land - Acquisition & Development | 18,033 | 4.8 | 23,299 | 5.8 | 20,443 | 4.8 | ||||||||||||||
Land - Consumer Lot Loans | 13,124 | 3.5 | 14,411 | 3.6 | 14,389 | 3.4 | ||||||||||||||
Multi-Family | 19,046 | 5.0 | 18,635 | 4.6 | 16,955 | 4.0 | ||||||||||||||
Commercial Real Estate | 1,435 | 0.4 | 1,729 | 0.4 | 1,714 | 0.4 | ||||||||||||||
Commercial & Industrial | 828 | 0.2 | 804 | 0.2 | 4 | — | ||||||||||||||
HELOC | 177 | — | 263 | 0.1 | 177 | — | ||||||||||||||
Consumer | — | — | — | — | — | — | ||||||||||||||
Total restructured loans (2) | 377,496 | 100.0 | % | 401,788 | 100.0 | % | 426,789 | 100.0 | % | |||||||||||
(2) Restructured loans were as follows: | ||||||||||||||||||||
Performing | $ | 320,018 | 84.8 | % | $ | 361,551 | 90.0 | % | $ | 387,010 | 90.7 | % | ||||||||
Non-accrual * | 57,478 | 15.2 | 40,237 | 10.0 | 39,779 | 9.3 | ||||||||||||||
* Included in "Total non-accrual loans" above | $ | 377,496 | 100.0 | % | $ | 401,788 | 100.0 | % | $ | 426,789 | 100.0 | % | ||||||||
7 of 11
Washington Federal, Inc.
Fact Sheet
March 31, 2012
($ in Thousands)
9/11 QTR | 12/11 QTR | 3/12 QTR | ||||||||||||||||||
AMOUNT | CO %** | AMOUNT | CO %** | AMOUNT | CO %** | |||||||||||||||
Net Charge-offs by Category | ||||||||||||||||||||
Single-Family Residential | $ | 13,897 | 0.89 | % | $ | 11,329 | 0.75 | % | $ | 14,246 | 0.95 | % | ||||||||
Construction - Speculative | (263 | ) | (0.75 | ) | 440 | 1.35 | 980 | 3.04 | ||||||||||||
Construction - Custom | — | — | — | — | — | — | ||||||||||||||
Land - Acquisition & Development | 3,043 | 6.07 | 2,131 | 4.84 | 11,738 | 30.01 | ||||||||||||||
Land - Consumer Lot Loans | 801 | 1.96 | 671 | 1.73 | 687 | 1.83 | ||||||||||||||
Multi-Family | 175 | 0.10 | 1,079 | 0.63 | 98 | 0.06 | ||||||||||||||
Commercial Real Estate | 245 | 0.32 | — | — | 146 | 0.15 | ||||||||||||||
Commercial & Industrial | 103 | 0.38 | (2,191 | ) | (9.34 | ) | 59 | 0.23 | ||||||||||||
HELOC | 95 | 0.33 | (52 | ) | (0.16 | ) | 76 | 0.23 | ||||||||||||
Consumer | 443 | 2.62 | 422 | 2.67 | 691 | 3.88 | ||||||||||||||
Total net charge-offs | $ | 18,539 | 0.89 | % | $ | 13,829 | 0.67 | % | $ | 28,721 | 1.43 | % | ||||||||
** Annualized Net Charge-offs divided by Gross Balance | ||||||||||||||||||||
9/11 QTR | 12/11 QTR | 3/12 QTR | ||||||||||||||||||
SOP 03-3 | ||||||||||||||||||||
Accretable Yield | $ | 37,072 | $ | 31,721 | $ | 46,485 | ||||||||||||||
Non-Accretable Yield | 190,895 | 190,895 | 219,636 | |||||||||||||||||
Total Contractual Payments | $ | 227,967 | $ | 222,616 | $ | 266,121 | ||||||||||||||
Interest Rate Risk | ||||||||||||||||||||
One Year GAP | (16.5 | )% | (18.1 | )% | (14.5 | )% | ||||||||||||||
NPV post 200 bps shock* | 11.04 | % | 10.87 | % | 13.04 | % | ||||||||||||||
Change in NII after 200 bps shock* | (3.30 | )% | (3.40 | )% | (3.40 | )% | ||||||||||||||
* Assumes no balance sheet management | ||||||||||||||||||||
9/11 QTR | 12/11 QTR | 3/12 QTR | ||||||||||||||||||
CD's Repricing | Amount | Rate | Amount | Rate | Amount | Rate | ||||||||||||||
Within 3 months | $ | 1,531,968 | 1.37 | % | $ | 1,126,426 | 1.20 | % | $ | 1,209,647 | 0.86 | % | ||||||||
From 4 to 6 months | 1,053,840 | 1.26 | 1,193,610 | 0.88 | 981,387 | 0.96 | ||||||||||||||
From 7 to 9 months | 673,707 | 1.22 | 725,357 | 1.17 | 1,074,104 | 1.33 | ||||||||||||||
From 10 to 12 months | 677,778 | 1.21 | 1,071,946 | 1.33 | 628,188 | 1.63 | ||||||||||||||
8 of 11
Washington Federal, Inc.
Fact Sheet
March 31, 2012
($ in Thousands)
Historical CPR Rates *** | |||||||||||||
WAFD | WAFD | ||||||||||||
Average for Quarter Ended | SFR Mortgages | GSE MBS | |||||||||||
9/30/2010 | 24.0 | % | 25.6 | % | |||||||||
12/31/2010 | 30.1 | 28.6 | |||||||||||
3/31/2011 | 20.9 | 17.1 | |||||||||||
6/30/2011 | 13.3 | 12.1 | |||||||||||
9/30/2011 | 17.1 | 17.5 | |||||||||||
12/31/2011 | 22.0 | 32.6 | |||||||||||
3/31/2012 | 19.5 | 27.5 | |||||||||||
*** The CPR Rate (conditional payment rate) is the rate that is equal to the proportion of the principal of a pool of loans that is paid off prematurely in each period. Also, the comparison is not precise in that Washington Federal is a portfolio lender and not required to follow GSE servicing rules/regulations. | |||||||||||||
9 of 11
Washington Federal, Inc.
Fact Sheet
March 31, 2012
Delinquency Summary (excludes covered loans)
($ in Thousands)
AMOUNT OF LOANS | # OF LOANS | % based | % based | |||||||||||||||||||||||||||||
TYPE OF LOANS | #LOANS | AVG Size | NET OF LIP & CHG-OFFs | 30 | 60 | 90 | Total | on # | $ Delinquent | on $ | ||||||||||||||||||||||
March 31, 2012 | ||||||||||||||||||||||||||||||||
Single-Family Residential | 32,195 | 185 | $ | 5,972,066 | 223 | 143 | 526 | 892 | 2.77 | % | $ | 185,142 | 3.10 | % | ||||||||||||||||||
Construction - Speculative | 527 | 195 | 102,793 | 1 | 3 | 18 | 22 | 4.17 | 5,198 | 5.06 | ||||||||||||||||||||||
Construction - Custom | 580 | 251 | 145,406 | — | 1 | 1 | 2 | 0.34 | 561 | 0.39 | ||||||||||||||||||||||
Land - Acquisition & Development | 221 | 682 | 150,718 | — | 3 | 18 | 21 | 9.50 | 21,128 | 14.02 | ||||||||||||||||||||||
Land - Consumer Lot Loans | 1,611 | 93 | 149,966 | 10 | 10 | 36 | 56 | 3.48 | 7,811 | 5.21 | ||||||||||||||||||||||
Multi-Family | 1,120 | 606 | 678,960 | — | 2 | 5 | 7 | 0.63 | 5,213 | 0.77 | ||||||||||||||||||||||
Commercial Real Estate | 939 | 419 | 393,396 | 16 | 4 | 6 | 26 | 2.77 | 5,365 | 1.36 | ||||||||||||||||||||||
Commercial & Industrial | 536 | 192 | 102,666 | 3 | 1 | 2 | 6 | 1.12 | 6 | 0.01 | ||||||||||||||||||||||
HELOC | 1,998 | 65 | 130,583 | 5 | 2 | 7 | 14 | 0.70 | 711 | 0.54 | ||||||||||||||||||||||
Consumer | 10,784 | 7 | 71,205 | 181 | 69 | 62 | 312 | 2.89 | 2,087 | 2.93 | ||||||||||||||||||||||
50,511 | 7,897,759 | 439 | 238 | 681 | 1,358 | 2.69 | % | 233,222 | 2.95 | % | ||||||||||||||||||||||
December 31, 2011 | ||||||||||||||||||||||||||||||||
Single-Family Residential | 32,704 | 186 | $ | 6,080,965 | 248 | 113 | 544 | 905 | 2.77 | % | $ | 192,588 | 3.17 | % | ||||||||||||||||||
Construction - Speculative | 524 | 200 | 104,654 | 11 | 1 | 15 | 27 | 5.15 | 6,152 | 5.88 | ||||||||||||||||||||||
Construction - Custom | 678 | 237 | 160,717 | 1 | — | 1 | 2 | 0.29 | 1,160 | 0.72 | ||||||||||||||||||||||
Land - Acquisition & Development | 224 | 758 | 169,752 | 2 | 1 | 21 | 24 | 10.71 | 26,573 | 15.65 | ||||||||||||||||||||||
Land - Consumer Lot Loans | 1,633 | 95 | 154,874 | 10 | 9 | 50 | 69 | 4.23 | 9,268 | 5.98 | ||||||||||||||||||||||
Multi-Family | 1,131 | 597 | 675,772 | 3 | 1 | 7 | 11 | 0.97 | 8,670 | 1.28 | ||||||||||||||||||||||
Commercial Real Estate | 752 | 550 | 413,343 | 5 | — | 7 | 12 | 1.60 | 4,583 | 1.11 | ||||||||||||||||||||||
Commercial & Industrial | 487 | 192 | 93,498 | 2 | — | 3 | 5 | 1.03 | 50 | 0.05 | ||||||||||||||||||||||
HELOC | 1,924 | 69 | 132,089 | 2 | 2 | 6 | 10 | 0.52 | 814 | 0.62 | ||||||||||||||||||||||
Consumer | 11,479 | 6 | 63,243 | 204 | 109 | 94 | 407 | 3.55 | 2,257 | 3.57 | ||||||||||||||||||||||
51,536 | 8,048,907 | 488 | 236 | 748 | 1,472 | 2.86 | % | 252,115 | 3.13 | % | ||||||||||||||||||||||
September 30, 2011 | ||||||||||||||||||||||||||||||||
Single-Family Residential | 33,288 | 187 | $ | 6,217,670 | 253 | 99 | 544 | 896 | 2.69 | % | $ | 202,207 | 3.25 | % | ||||||||||||||||||
Construction - Speculative | 557 | 207 | 115,409 | 2 | — | 34 | 36 | 6.46 | 8,566 | 7.42 | ||||||||||||||||||||||
Construction - Custom | 685 | 216 | 147,764 | — | — | 1 | 1 | 0.15 | 635 | 0.43 | ||||||||||||||||||||||
Land - Acquisition & Development | 233 | 831 | 193,613 | 2 | — | 27 | 29 | 12.45 | 34,256 | 17.69 | ||||||||||||||||||||||
Land - Consumer Lot Loans | 1,699 | 96 | 163,146 | 14 | 11 | 68 | 93 | 5.47 | 11,297 | 6.92 | ||||||||||||||||||||||
Multi-Family | 1,163 | 601 | 699,340 | — | 2 | 6 | 8 | 0.69 | 8,575 | 1.23 | ||||||||||||||||||||||
Commercial Real Estate | 544 | 552 | 300,307 | 4 | — | 8 | 12 | 2.21 | 8,292 | 2.76 | ||||||||||||||||||||||
Commercial & Industrial | 428 | 255 | 108,995 | 1 | 1 | 2 | 4 | 0.93 | 2,287 | 2.10 | ||||||||||||||||||||||
HELOC | 1,817 | 63 | 115,092 | 4 | 1 | 6 | 11 | 0.61 | 1,033 | 0.90 | ||||||||||||||||||||||
Consumer | 12,060 | 6 | 67,509 | 194 | 94 | 80 | 368 | 3.05 | 2,075 | 3.07 | ||||||||||||||||||||||
52,474 | 8,128,845 | 474 | 208 | 776 | 1,458 | 2.78 | % | 279,223 | 3.43 | % | ||||||||||||||||||||||
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Washington Federal, Inc.
Fact Sheet
March 31, 2012
Average Balance Sheet
($ in Thousands)
Quarters Ended | |||||||||||||||||||||||||||||||||
September 30, 2011 | December 31, 2011 | March 31, 2012 | |||||||||||||||||||||||||||||||
Average | Average | Average | Average | Average | Average | ||||||||||||||||||||||||||||
Balance | Interest | Rate | Balance | Interest | Rate | Balance | Interest | Rate | |||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||
Loans and covered loans | $ | 8,476,006 | $ | 127,943 | 5.99 | % | $ | 8,370,466 | $ | 127,480 | 6.06 | % | $ | 8,081,677 | $ | 123,771 | 6.05 | % | |||||||||||||||
Mortgage-backed securities | 2,783,572 | 27,822 | 3.97 | 3,146,219 | 26,296 | 3.33 | 3,541,962 | 28,682 | 3.26 | ||||||||||||||||||||||||
Cash & Investments | 1,029,802 | 3,208 | 1.24 | 1,014,559 | 2,151 | 0.84 | 932,074 | 2,151 | 0.91 | ||||||||||||||||||||||||
FHLB stock | 151,753 | 2 | 0.01 | 151,944 | — | — | 152,698 | — | — | ||||||||||||||||||||||||
Total interest-earning assets | 12,441,133 | 158,975 | 5.07 | % | 12,683,188 | 155,927 | 4.89 | % | 12,708,411 | 154,604 | 4.89 | % | |||||||||||||||||||||
Other assets | 966,680 | 898,176 | 888,899 | ||||||||||||||||||||||||||||||
Total assets | $ | 13,407,813 | $ | 13,581,364 | $ | 13,597,310 | |||||||||||||||||||||||||||
Liabilities and Equity | |||||||||||||||||||||||||||||||||
Customer accounts | 8,708,928 | 26,070 | 1.19 | % | 8,826,157 | 23,949 | 1.08 | % | 8,821,377 | 22,016 | 1.00 | % | |||||||||||||||||||||
FHLB advances | 1,940,573 | 20,858 | 4.26 | 1,961,261 | 20,735 | 4.21 | 1,960,358 | 20,516 | 4.21 | ||||||||||||||||||||||||
Other borrowings | 800,000 | 7,529 | 3.73 | 800,000 | 7,528 | 3.74 | 800,000 | 7,447 | 3.74 | ||||||||||||||||||||||||
Total interest-bearing liabilities | 11,449,501 | 54,457 | 1.89 | % | 11,587,418 | 52,212 | 1.79 | % | 11,581,735 | 49,979 | 1.74 | % | |||||||||||||||||||||
Other liabilities | 86,422 | 90,416 | 101,738 | ||||||||||||||||||||||||||||||
Total liabilities | 11,535,923 | 11,677,834 | 11,683,473 | ||||||||||||||||||||||||||||||
Stockholders’ equity | 1,871,890 | 1,903,530 | 1,913,837 | ||||||||||||||||||||||||||||||
Total liabilities and equity | $ | 13,407,813 | $ | 13,581,364 | $ | 13,597,310 | |||||||||||||||||||||||||||
Net interest income | $ | 104,518 | $ | 103,715 | $ | 104,625 | |||||||||||||||||||||||||||
Net interest margin (1) | 3.36 | % | 3.27 | % | 3.29 | % | |||||||||||||||||||||||||||
(1 | ) | Annualized net interest income divided by average interest-earning assets. | |||||||||||||||||||||||||||||||
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