WAFD INC 10-Q Summary: Period Ended March 31, 1998
Business Context and Reporting Period
This filing covers the three-month period ended March 31, 1998, for WAFD INC. The company operates as a financial institution with a fiscal year-end of September 30. Total assets reported at period end were $5,633,772.
Key Financial Metrics
| Metric | Value |
|---|---|
| Net Income | $27,962 |
| Earnings Per Share (Primary/Diluted) | $0.53 |
| Total Assets | $5,633,772 |
| Total Loans | $4,152,743 |
| Total Deposits | $3,024,452 |
| Cash and Equivalents | $25,591 |
| Investments Held for Sale | $668,500 |
| Short-Term Debt | $1,378,990 |
| Long-Term Debt | $350,000 |
| Net Interest Income | $51,991 |
| Net Interest Margin (Yield) | 8.07% |
| Allowance for Loan Losses | $23,483 |
Material Changes and Asset Quality
The filing text does not provide comparative data for the prior period to calculate material changes in revenue or profit. Regarding asset quality, non-performing loans totaled $18,687, with $7,861 classified as troubled loans. There were no loans reported as past due. Net charge-offs for the period were $132 ($162 charge-offs less $30 recoveries).
Outlook, Risks, and Commentary
The provided text contains no management commentary, forward-looking guidance, or specific discussion of risks and contingencies. No extraordinary items were reported for the period.
Investor Verification Checklist
- Verify the source of the $1,378,990 in short-term debt to assess liquidity pressure.
- Confirm the composition of the $7,861 in troubled loans and the adequacy of the $23,483 allowance.
- Review the full 10-Q text for comparative period data to analyze year-over-year performance trends.
- Investigate the low cash balance of $25,591 relative to total assets and short-term obligations.