WAFD - Washington Federal stock rises as Q4 net interest income surges

• Washington Federal ( NASDAQ: WAFD ) stock rose ~6% on Friday after the company's FQ4 earnings beat estimates.
• FQ4 GAAP EPS grew +48.61% Y/Y to $1.07.
• "Fiscal year 2022 was the best year for WaFd Bank in our 105-year history. We broke records for net income, earnings per share, loan growth, total loans, loan production, book value per share, and tangible book value per share," said Brent  Beardall
• Net interest income grew +31.57%Y/Y  to $173.62M.
• The company said total assets were $20.8B as of Sept. 30, 2022, an increase of 5.7% from $19.7B at Sept. 30, 2021, mainly due to record loan originations funded by continued growth in customer deposits, increased Federal Home Loan Bank (FHLB) advances and decreased cash.
• Loan originations totaled $8.7B for fiscal year 2022, compared to $8.2B in fiscal year 2021.
• The company noted that it views organic loan growth funded by low-cost core deposits as the highest and best use of its capital.

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