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 |
|
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