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Shareholders' Equity | 12 Months Ended
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Sep. 30, 2024
Equity [Abstract] |
Shareholders' Equity | SHAREHOLDERS' EQUITY The Company and the Bank are subject to various regulatory capital requirements. Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios (set forth in the following table) of Common Equity Tier 1, Tier 1 and Total capital to risk weighted assets (as defined in the regulations) and Tier 1 capital to average assets (as defined in the regulations). Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary action by regulators that, if undertaken, could have a direct material effect on the Company's financial statements. The Company and the Bank are also subject to certain restrictions on the amount of dividends that they may declare without prior regulatory approval. On February 8, 2021, in connection with an underwritten public offering, the Company issued 300,000 shares of 4.875% Noncumulative Perpetual Series A Preferred Stock. Net proceeds, after underwriting discounts and expenses, were $293,325,000. The public offering consisted of the issuance and sale of 12,000,000 depositary shares, each representing a 1/40 th interest in a share of the Series A Preferred Stock, at a public offering price of $25.00 per depositary share. Holders of the depositary shares are entitled to all proportional rights and preferences of the Series A Preferred Stock (including, dividend, voting, redemption and liquidation rights). The depositary shares are traded on the NASDAQ Global Select Market under the symbol "WAFDP." The Series A Preferred Stock is redeemable at the option of the Company, subject to all applicable regulatory approvals, on or after April 15, 2026. As of September 30, 2024, and 2023, the Company and the Bank met all capital adequacy requirements to which they are subject, and the Bank's regulators categorized it as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, the Bank must maintain minimum Common Equity Tier 1, Tier 1 risk-based, Total risk-based and Tier 1 leverage ratios as set forth in the following table. The Bank's actual capital amounts and ratios as of these dates are also presented. There are no conditions or events since that management believes have changed the Bank's categorization.
| Actual |  |  | Capital Adequacy Guidelines |  | Categorized as Well Capitalized Under Prompt Corrective Action Provisions
| Capital | Ratio |  |  | Ratio |  | Ratio
September 30, 2024 | ($ in thousands)
Common Equity Tier 1 risk-based capital ratio: |  |  |  |  |  |  |
The Company | $ | 2,153,721 |  | 11.31 | % |  |  | 4.50 | % |  | NA
The Bank | 2,463,266 |  | 12.94 |  |  |  | 4.50 |  |  | 6.50 | %
Tier 1 risk-based capital ratio: |  |  |  |  |  |  |
The Company | 2,453,721 |  | 12.88 |  |  |  | 6.00 |  |  | NA
The Bank | 2,463,266 |  | 12.94 |  |  |  | 6.00 |  |  | 8.00 |
Total risk-based capital ratio: |  |  |  |  |  |  |
The Company | 2,722,290 |  | 14.29 |  |  |  | 8.00 |  |  | NA
The Bank | 2,681,116 |  | 14.08 |  |  |  | 8.00 |  |  | 10.00 |
Tier 1 leverage ratio: |  |  |  |  |  |  |
The Company | 2,453,721 |  | 8.90 |  |  |  | 4.00 |  |  | NA
The Bank | 2,463,266 |  | 8.94 |  |  |  | 4.00 |  |  | 5.00 |
September 30, 2023 |  |  |  |  |  |  |
Common Equity Tier 1 risk-based capital ratio: |  |  |  |  |  |  |
The Company | $ | 1,769,170 |  | 10.37 | % |  |  | 4.50 | % |  | NA
The Bank | 1,982,943 |  | 11.63 |  |  |  | 4.50 |  |  | 6.50 | %
Tier 1 risk-based capital ratio: |  |  |  |  |  |  |
The Company | 2,069,170 |  | 12.12 |  |  |  | 6.00 |  |  | NA
The Bank | 1,982,943 |  | 11.63 |  |  |  | 6.00 |  |  | 8.00 |
Total risk-based capital ratio: |  |  |  |  |  |  |
The Company | 2,270,877 |  | 13.31 |  |  |  | 8.00 |  |  | NA
The Bank | 2,184,650 |  | 12.81 |  |  |  | 8.00 |  |  | 10.00 |
Tier 1 leverage ratio: |  |  |  |  |  |  |
The Company | 2,069,170 |  | 9.39 |  |  |  | 4.00 |  |  | NA
The Bank | 1,982,943 |  | 9.10 |  |  |  | 4.00 |  |  | 5.00 |
At periodic intervals, the Federal Reserve, the WDFI and the FDIC examine the Company's and the Bank's financial statements as part of their oversight. Based on their examinations, these regulators can direct that the Company's or Bank's financial statements be adjusted in accordance with their findings. The Company and the Bank are subject to regulatory restrictions on paying dividends. The Company has an ongoing common share repurchase program and 1,058,178 shares were repurchased during 2024 at a weighted average price of $25.29. In 2023, 1,165,161 shares were repurchased at a weighted average price of $26.14. As of September 30, 2024, management had authorization from the Board of Directors to repurchase up to 11,501,005 additional shares. The following table sets forth information regarding earnings per common share calculations.
Year ended September 30, | 2024 |  | 2023 |  | 2022
Weighted average shares outstanding | 74,244,323 |  |  | 65,192,510 |  |  | 65,287,650 |
Weighted average dilutive options | 46,245 |  |  | 62,773 |  |  | 116,460 |
Weighted average diluted shares | 74,290,568 |  |  | 65,255,283 |  |  | 65,404,110 |
Net income available to common shareholders (in thousands) | $ | 185,416 |  |  | $ | 242,801 |  |  | $ | 221,705 |
Basic EPS | $ | 2.50 |  |  | $ | 3.72 |  |  | $ | 3.40 |
Diluted EPS | 2.50 |  |  | 3.72 |  |  | 3.39 |

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