Financial Information - Washington Federal, Inc. (Tables)

12 Months Ended

Sep. 30, 2022

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, 2022		September 30, 2021
	(In thousands)
Assets
Cash	$	130,502	$	28,696
Other assets	5,000		5,000
Investment in subsidiary	2,143,116		2,096,464
Total assets	$	2,278,618	$	2,130,160
Liabilities
Dividend payable on preferred stock	$	3,656	$	3,656
Other liabilities	702		440
Total liabilities	4,358		4,096
Shareholders’ equity
Total shareholders’ equity	2,274,260		2,126,064
Total liabilities and shareholders’ equity	$	2,278,618	$	2,130,160

Condensed Statements of Operations
Twelve Months Ended September 30,	2022		2021		2020
	(In thousands)
Income
Dividends from subsidiary	$	172,850	$	92,400	$	190,900
Total Income	172,850		92,400		190,900
Expense
Miscellaneous expense	619		626		529
Total expense	619		626		529
Net income (loss) before equity in undistributed net income (loss) of subsidiary	172,231		91,774		190,371
Equity in undistributed net income (loss) of subsidiaries	63,956		91,697		(17,055)
Income before income taxes	236,187		183,471		173,316
Income tax benefit (expense)	143		144		122
Net income	236,330		183,615		173,438
Dividends on preferred stock	14,625		10,034		—
Net income available to common shareholders	$	221,705	$	173,581	$	173,438

Condensed Statements of Cash Flows
Twelve Months Ended September 30,	2022		2021		2020
	(In thousands)
Cash Flows From Operating Activities
Net income	$	236,330	$	183,615	$	173,438
Adjustments to reconcile net income to net cash provided by operating activities:
Undistributed earnings from investments in subsidiaries	(63,956)		(91,697)		—
Distributions in excess of earnings from investments in subsidiaries	—		—		17,055
Stock based compensation expense	6,808		6,381		6,469
Increase (decrease) in other liabilities	262		440		—
Net cash provided by (used in) operating activities	179,444		98,739		196,962
Cash Flows From Investing Activities
Purchase of strategic investments	—		—		—
Net cash provided by (used in) investing activities	—		—		—
Cash Flows From Financing Activities
Proceeds from exercise of common stock options and related tax benefit	1,823		339		144
Proceeds from issuance of preferred stock, net	—		293,325
Treasury stock purchased	(3,260)		(348,651)		(112,133)
Dividends on preferred stock	(14,625)		(6,378)		—
Dividends on common stock	(61,576)		(65,876)		(66,496)
Net cash provided by (used in) financing activities	(77,638)		(127,241)		(178,485)
Increase (decrease) in cash	101,806		(28,502)		18,477
Cash at beginning of year	28,696		57,198		38,721
Cash at end of year	$	130,502	$	28,696	$	57,198