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Financial Information - WAFD, Inc.. (Tables) | 12 Months Ended
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Sep. 30, 2024
Condensed Financial Information Disclosure [Abstract] |
Schedule of Condensed Financial Information of Parent Company | The following WaFd, 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, 2024 | September 30, 2023
| (In thousands)
Assets |  |
Cash | $ | 25,966 |  | $ | 74,450 |
Other assets | 18,024 |  | 16,171 |
Investment in statutory trust | 1,857 |  | — |
Investment in subsidiary | 3,009,845 |  | 2,340,199 |
Total assets | $ | 3,055,692 |  | $ | 2,430,820 |
Liabilities |  |
Dividend payable on preferred stock | $ | 3,656 |  | $ | 3,656 |
Junior subordinated deferrable debentures | 50,718 |  | — |
Other liabilities | 1,018 |  | 738 |
Total liabilities | 55,392 |  | 4,394 |
Shareholders’ equity |  |
Total shareholders’ equity | 3,000,300 |  | 2,426,426 |
Total liabilities and shareholders’ equity | $ | 3,055,692 |  | $ | 2,430,820 |
Condensed Statements of Operations |  |  |
Twelve Months Ended September 30, | 2024 | 2023 | 2022
| (In thousands)
Income |  |  |
Dividends from subsidiary | $ | 140,000 |  | $ | 56,490 |  | $ | 172,850 |
Interest income | 78 |  | — |  | — |
Total Income | 140,078 |  | 56,490 |  | 172,850 |
Expense |  |  |
Miscellaneous expense | 11,341 |  | 2,214 |  | 619 |
Total expense | 11,341 |  | 2,214 |  | 619 |
Net income (loss) before equity in undistributed net income (loss) of subsidiary | 128,737 |  | 54,276 |  | 172,231 |
Equity in undistributed net income (loss) of subsidiaries | 68,628 |  | 202,643 |  | 63,956 |
Income before income taxes | 197,365 |  | 256,919 |  | 236,187 |
Income tax benefit (expense) | 2,676 |  | 507 |  | 143 |
Net income | 200,041 |  | 257,426 |  | 236,330 |
Dividends on preferred stock | 14,625 |  | 14,625 |  | 14,625 |
Net income available to common shareholders | $ | 185,416 |  | $ | 242,801 |  | $ | 221,705 |
Condensed Statements of Cash Flows |  |  |
Twelve Months Ended September 30, | 2024 | 2023 | 2022
| (In thousands)
Cash Flows From Operating Activities |  |  |
Net income | $ | 200,041 |  | $ | 257,426 |  | $ | 236,330 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
Undistributed earnings from investments in subsidiaries | (68,628) |  | (202,643) |  | (63,956) |
Distributions in excess of earnings from investments in subsidiaries | — |  | — |  | — |
Stock based compensation expense | 9,181 |  | 7,914 |  | 6,808 |
Net changes in other assets and liabilities | 2,531 |  | 1,365 |  | 262 |
Net cash provided by operating activities | 143,125 |  | 64,062 |  | 179,444 |
Cash Flows From Investing Activities |  |  |
Net cash received in business combinations | 16,173 |  | — |  | — |
Purchase of strategic investments | (3,000) |  | (12,500) |  | — |
Net cash provided by (used in) investing activities | 13,173 |  | (12,500) |  | — |
Cash Flows From Financing Activities |  |  |
Proceeds from exercise of common stock options and related tax benefit | 5,187 |  | 1,089 |  | 1,823 |
Proceeds from issuance of preferred stock, net | — |  | — |  | — |
Proceeds from the purchase of common stock through the Employee Stock Purchase Program | 992 |  | 177 |  | — |
Repayment of long term senior debt | (95,000) |  | 0 | 0
Treasury stock purchased | (27,069) |  | (30,463) |  | (3,260) |
Dividends on preferred stock | (14,625) |  | (14,625) |  | (14,625) |
Dividends on common stock | (74,267) |  | (63,792) |  | (61,576) |
Net cash provided by (used in) financing activities | (204,782) |  | (107,614) |  | (77,638) |
Increase (decrease) in cash | (48,484) |  | (56,052) |  | 101,806 |
Cash at beginning of year | 74,450 |  | 130,502 |  | 28,696 |
Cash at end of year | $ | 25,966 |  | $ | 74,450 |  | $ | 130,502 |

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