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Financial Information of WFI
12 Months Ended
Sep. 30, 2011
Financial Information WFI [Abstract] 
Financial Information of WFI
FINANCIAL INFORMATION – WASHINGTON FEDERAL, INC.
The following Washington Federal, Inc. (parent company only) financial information should be read in conjunction with the other notes to the Consolidated Financial Statements.
 
Statements of Financial Condition
 
 
September 30,
2011
2010
 
(In thousands)
Assets
 
 
Cash
$
27,699

$
4,646

Investment in subsidiary
1,885,498

1,842,081

Other Assets
37


Dividend receivable


Total assets
$
1,913,234

$
1,846,727

Liabilities
 
 
Borrowed money
$

$

Dividend payable and other liabilities
6,700

5,580

Other liabilities
1


Total liabilities
6,701

5,580

Stockholders’ equity
 
 
Common stock, $1.00 par value, 300,000,000 shares authorized; 108,976,410 shares outstanding
$
129,854

$
129,556

Paid-in capital
1,582,843

1,578,527

Accumulated other comprehensive income (loss), net of tax
85,789

49,682

Treasury stock, at cost; 20,877,124 shares
(268,665
)
(208,985
)
Retained earnings
376,712

292,367

Total stockholders’ equity
1,906,533

1,841,147

Total liabilities and stockholders’ equity
$
1,913,234

$
1,846,727

 

Statements of Operations
 
 
 
Year ended September 30,
2011
2010
2009
 
(In thousands)
Income
 
 
 
Dividends from subsidiary
$
100,600

$

$
18,833

Other

14

24

Total Income
100,600

14

18,857

Expense



Miscellaneous
626

1,046

1,996
Total expense
626

1,046

1,996
 



Net income before equity in undistributed net income of subsidiary
99,974

(1,032
)
16,861

Equity in undistributed net income of subsidiary
11,167

119,324

30,611

Income before income taxes
111,141

118,292

47,472

Income tax benefit

361

700

Net income
$
111,141

$
118,653

$
48,172

Preferred dividends accrued


7,488

Net income available to common shareholders
$
111,141

$
118,653

$
40,684

 
 
 
 
Statements of Cash Flows
2011
2010
2009
 
(In thousands)
Cash Flows From Operating Activities
 
 
 
Net income
$
111,141

$
118,653

$
48,172

Adjustments to reconcile net income to net cash provided by operating activities
 
 
 
Equity in undistributed net income of subsidiaries
(4,382
)
(119,324
)
(30,611
)
Decrease (increase) in dividend receivable


18,434

Decrease (increase) in other assets
(37
)
1,309

(434
)
Increase (decrease) in other liabilities
1,121

(421
)
(11,589
)
Net cash provided by (used in) operating activities
107,843

217

23,972

Cash Flows From Financing Activities
 
 
 
Proceeds from exercise of common stock options and related tax benefit
1,686

1,940

180

Proceeds from Employee Stock Ownership Plan


1,341

Net proceeds from follow on stock offering



333,177

Downstream stock offering proceeds to the Bank


(300,000
)
Proceeds from issuance of preferred stock and warrants




200,000

Preferred stock redeemed




(200,000
)
Increase (decrease) in borrowings

(14,310
)

Treasury stock purchased
(59,680
)


Dividends paid on preferred stock




(5,361
)
Dividends paid on common stock
(26,796
)
(22,450
)
(18,847
)
Net cash used by financing activities
(84,790
)
(34,820
)
10,490

Increase (decrease) in cash
23,053

(34,603
)
34,462

Cash at beginning of year
4,646

39,249

4,787

Cash at end of year
$
27,699

$
4,646

$
39,249