Financial Information - Washington Federal, Inc. (Tables)

12 Months Ended

Sep. 30, 2021

Condensed Financial Information Disclosure [Abstract]

Schedule of condensed financial information of parent company

The following Washington Federal, Inc. (parent company only) financial information should be read in conjunction with the other notes to the Consolidated Financial Statements.


Condensed Statements of Financial Condition
	September 30, 2021		September 30, 2020
	(In thousands)
Assets
Cash	$	28,696	$	57,198
Other assets	5,000		5,000
Investment in subsidiary	2,096,464		1,951,935
Total assets	$	2,130,160	$	2,014,133

Liabilities
Dividend payable on preferred stock	$	3,656	$	—
Other liabilities	440		—
Total liabilities	4,096		—

Shareholders’ equity
Total shareholders’ equity	2,126,064		2,014,133
Total liabilities and shareholders’ equity	$	2,130,160	$	2,014,133


Condensed Statements of Operations
Twelve Months Ended September 30,	2021		2020		2019
	(In thousands)
Income
Dividends from subsidiary	$	92,400	$	190,900	$	208,389

Total Income	92,400		190,900		208,389
Expense
Miscellaneous expense	626		529		448
Total expense	626		529		448

Net income (loss) before equity in undistributed net income (loss) of subsidiary	91,774		190,371		207,941
Equity in undistributed net income (loss) of subsidiaries	91,697		(17,055)		2,213
Income before income taxes	183,471		173,316		210,154
Income tax benefit (expense)	144		122		102
Net income	183,615		173,438		210,256
Dividends on preferred stock	10,034		—		—
Net income available to common shareholders	$	173,581	$	173,438	$	210,256


Condensed Statements of Cash Flows
Twelve Months Ended September 30,	2021		2020		2019
	(In thousands)
Cash Flows From Operating Activities
Net income	$	183,615	$	173,438	$	210,256
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed net income (loss) of subsidiaries	(91,697)		17,055		(2,213)
Stock based compensation expense	6,381		6,469		5,265

Increase (decrease) in other liabilities	440		—		(3,489)
Net cash provided by (used in) operating activities	98,739		196,962		209,819

Cash Flows From Investing Activities
Purchase of strategic investments	—		—		(5,000)
Net cash provided by (used in) investing activities	—		—		(5,000)

Cash Flows From Financing Activities
Proceeds from exercise of common stock options and related tax benefit	339		144		740
Proceeds from issuance of preferred stock, net	293,325		—
Treasury stock purchased	(348,651)		(112,133)		(123,854)
Dividends on preferred stock	(6,378)		—		—
Dividends on common stock	(65,876)		(66,496)		(63,318)
Net cash provided by (used in) financing activities	(127,241)		(178,485)		(186,432)

Increase (decrease) in cash	(28,502)		18,477		18,387
Cash at beginning of year	57,198		38,721		20,334
Cash at end of year	$	28,696	$	57,198	$	38,721