Shares of Washington Federal WAFD gained 2.2% since the announcement of fourth quarter and fiscal 2021 (ended Sep 30) results late last week. Quarterly earnings of 72 cents per share surpassed the Zacks Consensus Estimate of 63 cents. The figure reflects a year-over-year jump of 60%.Results primarily benefited from an increase in revenues, provision benefits, and robust loan balance. The company’s balance-sheet position remained strong during the quarter. However, an increase in expenses was the undermining factor. Net income was $52.4 million, surging 52.5% from the prior year.In fiscal 2021, earnings were $2.39 per share, up 5.8% year over year. Net income came in at $183.6 million, rising 5.9%.Revenues & Expenses UpQuarterly net revenues were $151 million, up 19.9% from the year-ago quarter. The top line beat the Zacks Consensus Estimate of $144 million.In fiscal 2021, net revenues grew 1.7% to $565.7 million.Net interest income was $132 million, up 14.9% from the year-earlier period. Net interest margin was 2.82%, rising 21 basis points.Total other income of $19 million soared 71.6%. This jump was mainly driven by drastic improvement in other income.Other expenses amounted to $85.7 million, up 9.6% year over year. Higher compensation and benefits, and product delivery charges largely led to this rise.The company’s efficiency ratio was 56.75%, down from 62.09% recorded a year ago. A fall in efficiency ratio indicates improved profitability.At the end of the fiscal fourth quarter, return on average common equity was 10.36%, up from the 6.83% witnessed at the end of the year-earlier quarter. Return on average assets was 1.07%, up from 0.74%.Loans and Deposit RiseAs of Sep 30, 2021, net loans receivables amounted to $13.8 billion, up from $12.8 billion recorded on Sep 30, 2020. Also, total customer deposits were $15.5 billion, up from $13.8 billion as of Sep 30, 2020.Credit Quality ImprovesAs of Sep 30, 2021, the allowance for credit losses (including reserve for unfunded commitments) was 1.22% of gross loans outstanding, down from 1.33% recorded on Sep 30, 2020. The ratio of non-performing assets to total assets was 0.22% compared with 0.20% on Sep 30, 2020.During the quarter, the company recorded a provision release of $0.5 million against the provision for credit losses of $6.5 million in the prior-year quarter.Share Repurchase UpdateDuring the quarter, Washington Federal repurchased 4.3 million shares at an average price of $32.44 per share.Our TakeSolid loans and deposit balances, along with a strong balance-sheet position, will likely continue to support Washington Federal’s profitability. However, elevated operating expenses, along with low rates, remain major headwinds. Washington Federal, Inc. Price, Consensus and EPS Surprise Washington Federal, Inc. price-consensus-eps-surprise-chart | Washington Federal, Inc. QuoteCurrently, Washington Federal carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Earnings Release Schedule of Other BanksHancock Whitney Corporation HWC is scheduled to release quarterly numbers on Oct 19. Both Associated Banc-Corp ASB and Bank OZK OZK will announce results on Oct 21. Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%. You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Washington Federal, Inc. (WAFD): Free Stock Analysis Report Associated BancCorp (ASB): Free Stock Analysis Report Hancock Whitney Corporation (HWC): Free Stock Analysis Report Bank OZK (OZK): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research