XML 41 R7.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Mar. 31, 2015
Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 78,768us-gaap_NetIncomeLoss $ 78,893us-gaap_NetIncomeLoss
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 10,566wfsl_AmortizationAccretionOfFeesDiscountsPremiumsAndIntangibleAssetsNet 5,993wfsl_AmortizationAccretionOfFeesDiscountsPremiumsAndIntangibleAssetsNet
Cash received from (paid to) FDIC under loss share (738)wfsl_IncreaseDecreaseInFdicIndemnificationAsset 1,629wfsl_IncreaseDecreaseInFdicIndemnificationAsset
Stock option compensation expense 600us-gaap_StockOptionPlanExpense 600us-gaap_StockOptionPlanExpense
Reversal of provision for loan losses (9,449)us-gaap_ProvisionForLoanAndLeaseLosses (8,936)us-gaap_ProvisionForLoanAndLeaseLosses
Gain on real estate held for sale (12,338)wfsl_GainLossonRealEstateHeldforsale (1,042)wfsl_GainLossonRealEstateHeldforsale
Decrease (increase) in accrued interest receivable 11,678us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet (2,066)us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet
Increase in FDIC loss share receivable 1,795wfsl_IncreaseDecreaseInFdicLossShareReceivable (1,896)wfsl_IncreaseDecreaseInFdicLossShareReceivable
Decrease in federal and state income tax 6,995us-gaap_IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable 5,043us-gaap_IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
Increase in cash surrender value in bank owned life insurance (961)us-gaap_BankOwnedLifeInsuranceIncome 0us-gaap_BankOwnedLifeInsuranceIncome
Decrease (increase) in other assets (28,462)us-gaap_IncreaseDecreaseInOtherOperatingAssets 6,113us-gaap_IncreaseDecreaseInOtherOperatingAssets
Increase (decrease) in accrued expenses and other liabilities 586us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities (7,753)us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
Net cash provided by operating activities 59,040us-gaap_NetCashProvidedByUsedInOperatingActivities 76,578us-gaap_NetCashProvidedByUsedInOperatingActivities
CASH FLOWS FROM INVESTING ACTIVITIES    
Net loan originations (78,301)wfsl_LoansOriginatedNetOfPrincipalCollections (127,918)wfsl_LoansOriginatedNetOfPrincipalCollections
Loans purchased (146,832)us-gaap_PaymentsToAcquireLoansHeldForInvestment 0us-gaap_PaymentsToAcquireLoansHeldForInvestment
FHLB & FRB stock redemption 7,921us-gaap_PaymentsForProceedsFromFederalHomeLoanBankStock 5,682us-gaap_PaymentsForProceedsFromFederalHomeLoanBankStock
Available-for-sale securities purchased (163,126)us-gaap_PaymentsToAcquireAvailableForSaleSecurities (930,476)us-gaap_PaymentsToAcquireAvailableForSaleSecurities
Principal payments and maturities of available-for-sale securities 466,991us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities 185,050us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
Principal payments and maturities of held-to-maturity securities 65,913us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities 42,253us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
Net cash received from acquisitions 0us-gaap_CashAcquiredFromAcquisition 1,254,517us-gaap_CashAcquiredFromAcquisition
Proceeds from sales of real estate owned and held for investment 28,354us-gaap_ProceedsFromSaleOfPropertyHeldForSale 28,489us-gaap_ProceedsFromSaleOfPropertyHeldForSale
Proceeds from sales of covered REO 9,050wfsl_ProceedsFromSalesOfCoveredRealEstateOwned 17,216wfsl_ProceedsFromSalesOfCoveredRealEstateOwned
Purchase of bank owned life insurance (100,000)us-gaap_PaymentsToAcquireLifeInsurancePolicies 0us-gaap_PaymentsToAcquireLifeInsurancePolicies
Premises and equipment purchased and REO improvements (16,897)wfsl_PremisesAndEquipmentPurchasedAndReoImprovements (19,659)wfsl_PremisesAndEquipmentPurchasedAndReoImprovements
Net cash provided by investing activities 73,073us-gaap_NetCashProvidedByUsedInInvestingActivities 455,154us-gaap_NetCashProvidedByUsedInInvestingActivities
CASH FLOWS FROM FINANCING ACTIVITIES    
Net decrease in customer accounts (24,227)us-gaap_IncreaseDecreaseInDeposits (59,630)us-gaap_IncreaseDecreaseInDeposits
Repayments of borrowings (100,000)us-gaap_RepaymentsOfDebt 0us-gaap_RepaymentsOfDebt
Proceeds from exercise of common stock options and related tax benefit 492us-gaap_ProceedsFromStockOptionsExercised 9,911us-gaap_ProceedsFromStockOptionsExercised
Dividends paid on common stock (26,806)us-gaap_PaymentsOfDividendsCommonStock (20,372)us-gaap_PaymentsOfDividendsCommonStock
Treasury stock purchased (77,355)us-gaap_PaymentsForRepurchaseOfCommonStock (31,776)us-gaap_PaymentsForRepurchaseOfCommonStock
Decrease in advance payments by borrowers for taxes and insurance (10,996)us-gaap_IncreaseDecreaseInAdvancePaymentsByBorrowersForTaxesAndInsurance (25,192)us-gaap_IncreaseDecreaseInAdvancePaymentsByBorrowersForTaxesAndInsurance
Net cash used in financing activities (238,892)us-gaap_NetCashProvidedByUsedInFinancingActivities (127,059)us-gaap_NetCashProvidedByUsedInFinancingActivities
Increase (decrease) in cash and cash equivalents (106,779)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 404,673us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of period 781,843us-gaap_CashAndCashEquivalentsAtCarryingValue 203,563us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of period 675,064us-gaap_CashAndCashEquivalentsAtCarryingValue 608,236us-gaap_CashAndCashEquivalentsAtCarryingValue
Non-cash investing activities    
Non-covered real estate acquired through foreclosure 18,991wfsl_NonCoveredRealEstateAcquiredThroughForeclosure 20,898wfsl_NonCoveredRealEstateAcquiredThroughForeclosure
Covered real estate acquired through foreclosure 936wfsl_CoveredRealEstateAcquiredThroughForeclosure 836wfsl_CoveredRealEstateAcquiredThroughForeclosure
Cash paid during the period for    
Interest 62,193us-gaap_InterestPaid 65,499us-gaap_InterestPaid
Income taxes 32,517us-gaap_IncomeTaxesPaid 37,572us-gaap_IncomeTaxesPaid
The following summarizes the non-cash activities related to acquisitions    
Fair value of assets and intangibles acquired, including goodwill 0us-gaap_FairValueOfAssetsAcquired 63,111us-gaap_FairValueOfAssetsAcquired
Fair value of liabilities assumed 0us-gaap_LiabilitiesAssumed1 (1,317,628)us-gaap_LiabilitiesAssumed1
Net fair value of assets (liabilities) $ 0wfsl_NetFairValueOfAssetsLiabilities $ (1,254,517)wfsl_NetFairValueOfAssetsLiabilities