Washington Federal, Inc. (NASDAQ – WFSL), parent company of Washington Federal Savings, announced annual earnings of $144 million, or $2.25 per diluted share compared to $113.6 million or $1.77 per diluted share for the prior year — a 27-percent per share increase.

Earnings for the fourth fiscal quarter amounted to $37 million or 58 cents per diluted share compared to $31.9 million or 50 cents per diluted share for the same period one year ago — a 16-percent increase.

Chief Executive Officer Roy M. Whitehead said, “Cash and short-term investments amounted to $975 million, or 13-percent of assets, at year-end. In the future, these resources can be re-deployed to create additional revenue.” Whitehead further noted, “We have chosen to build liquidity rather than commit to long-term investments during this part of the interest rate cycle.”

During the fiscal year, the company expanded, with new branches in Henderson, Nev.; Lake Oswego, Ore.; Goodyear and Chandler, Ariz. and Draper, Utah. Additionally, the company opened a loan production office in Englewood, Colo.