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Updated Wednesday, January 16, 2013 at 06:30 AM

WaFed’s earnings up

The Seattle-based parent company of Washington Federal reported $35.3 million in profit for the quarter ended Dec. 31, up $1.9 million or 2 cents a share from the same quarter a year ago, thanks to an acquisition and lower losses on loans.

The company’s recently completed $44 million acquisition of South Valley Bank & Trust in Oregon added $362 million in loans to Washington Federal’s balance sheet, which reached $13 billion in assets.

Net losses from foreclosed real estate and provision for loan losses both fell by nearly 70 percent over the year. The company said it is changing the location of its annual meeting, set for 2 p.m. Wednesday, to the Seattle Sheraton Hotel.


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