Washington Federal Inc. reported unaudited consolidated earnings results for the first quarter ended December 31, 2015. For the quarter, the company announced earnings of $35,098,000 or $0.38 per basic and diluted share, compared to $38,407,000 or $0.39 per basic and diluted share for the quarter ended December 31, 2014, a $0.01 or 2.6% decrease in earnings per diluted share. Excluding the non-recurring costs, earnings were $39,370,000 or $0.42 per diluted share for the quarter ended December 31, 2015, a $0.03 or 7.7% increase in earnings per diluted share over the same period one year ago.

Net interest income was $107 million, an increase of $5 million or 4.6% compared to $102,183,000 from the prior year. Net interest income increased for the quarter due to increasing loan balances generating higher interest income on loans and reduced funding costs. Return on assets was 0.96% and a return on equity was 7.14% compared to return on assets was 1.05% and a return on equity was 7.84% a year ago.

Net interest income after provision for loan losses was $106,869,000 compared to $107,683,000 a year ago. Tangible common book value per share was $17.99. Interest income was $136,301,000 compared to $133,284,000 a year ago.

Tangible common stockholders' equity per share increased $0.17 or 0.9% to $17.99 and the ratio of tangible common equity to tangible assets remained strong at 11.62%.