Washington Federal Quarterly Earnings Increase by 36% to $33.4 Million
January 11, 2012
SEATTLE, WASHINGTON – Washington Federal, Inc. (Nasdaq: WFSL) today announced earnings of $33,418,000, or $.31 per diluted share, for the quarter ended December 31, 2011, compared to $24,530,000, or $.22 per diluted share, for the same period one year ago. Net income increased by 36% and earnings per share improved by 41%, driven primarily by lower credit costs. Credit related expenses, which include the provision for loan losses and charges related to real estate owned (“REO”), were $21,779,000 for the quarter ended December 31, 2011, a decrease of $14,774,000, or 40%, from the same quarter one year ago.