Washington Federal

Washington Federal, Inc.
Trade name	WaFd Bank
Type	Public company
Traded as	Nasdaq: WAFD; S&P 400 component
Industry	Financial services
Founded	January 1, 1917; 104 years ago
Headquarters	Seattle, Washington, United States
Number of locations	200+
Area served	Washington (81), Oregon (46), Arizona (31), Idaho (24), Nevada (11), Utah (10), New Mexico (10), Texas (5)
Key people	Brent J. Beardall, CEO
Products	Consumer Banking, Corporate Banking, Insurance, Investment Banking, Mortgage loans, Private Banking, Private equity, Wealth management, Credit cards, Financial Analysis;
Revenue	US$ 621.265 million (2020)
Operating income	US$ 219.186 million (2020)
Net income	US$ 173.438 million (2020)
Total assets	US$ $18.794 billion (2020)
Total equity	US$ $2.014 billion (2020)
Number of employees	1,877 (2018)
Website	www.wafdbank.com
	Footnotes / references;

Washington Federal, Inc. is a bank based in Seattle, Washington. It is the primary subsidiary of Washington Federal, Inc., a bank holding company. It operates 235 branches in eight western states within the United States.

History[]

The bank was founded on April 24, 1917, as Ballard Savings and Loan.

In 1958, it merged with and took the name of Washington Federal Savings and Loan.

The bank demutualized in 1982.

The present holding company structure was adopted in 1995.

In 2019, the bank was rebranded as WaFd Bank.

Mergers and acquisitions[]

Seattle Federal Savings and Loan, 1971
First Federal Savings and Loan Association, Mount Vernon, Washington, 1978
United First Federal, Boise, Idaho, 1987
Provident Federal Savings and Loan, Boise, 1987
Northwest Federal Savings and Loan, Boise, 1988
Freedom Federal Savings and Loan, Corvallis, Oregon, 1988
Family Federal Savings and Loan Association, Dallas, Oregon, 1990
First Federal Savings and Loan Association, Idaho Falls, Idaho, 1991
Metropolitan Savings Association, Portland and Eugene, Oregon, 1991
First Federal Savings Bank, Salt Lake City, 1993
West Coast Mutual Savings Bank, Centralia, Washington, 1996
Metropolitan Bancorp, Seattle, November 29, 1996^[4]
United Savings and Loan Bank (4 branches, based in Seattle) for $65 million in 2003. Founded on July 6, 1960, it was the first savings and loan owned by Asian Americans.^[5]
First Mutual Bank, Bellevue, Washington, 2008^[6]
Horizon Bank (18 branches), seized by the Federal Deposit Insurance Corporation after bank failure, Bellingham, Washington, 2010^[7]^[8]
South Valley Bancorp Inc., Klamath Falls, Oregon, 2012^[9]
51 branches from Bank of America in Washington, Oregon, Idaho, and New Mexico, 2013
23 branches from Bank of America in Arizona and Nevada, 2014^[10]

References[]

^ "Meet our Banking Executives". WaFd Bank. Retrieved 2021-03-04.
^ Jump up to: ^a ^b ^c ^d ^e "Washington Federal 2020 Form 10-K". United States Securities and Exchange Commission. 2020-11-23. Retrieved 2021-03-04.
^ "Washington Federal, Inc. 2018 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
^ "Washington Federal to buy Metropolitan Bancorp". Kitsap Sun. July 16, 1996.
^ "WASHINGTON FEDERAL TO BUY UNITED SAVINGS AND LOAN". The New York Times. Reuters. May 21, 2003.
^ "Washington Federal, Inc. to Acquire First Mutual Bancshares, Inc" (Press release). Globe Newswire. July 2, 2007.
^ "FDIC Failed Bank Information for Horizon Bank, Bellingham, WA". Federal Deposit Insurance Corporation.
^ GALLAGHER, DAVE; STARK, JOHN (January 8, 2010). "Regulators shut down Horizon Bank; Washington Federal takes over". The Bellingham Herald.
^ Kish, Matthew (April 5, 2012). "South Valley Bank sold to Washington Federal". American City Business Journals.
^ Gallen, Tim (January 24, 2014). "Washington Federal buys 23 retail branches in Arizona, Nevada from Bank of America". American City Business Journals.

External links[]

Official website

[1] "Meet our Banking Executives". WaFd Bank. Retrieved 2021-03-04.

[Washington_Federal_Inc._10-K-2] Jump up to: ^a ^b ^c ^d ^e "Washington Federal 2020 Form 10-K". United States Securities and Exchange Commission. 2020-11-23. Retrieved 2021-03-04.

[10K-3] "Washington Federal, Inc. 2018 Form 10-K Annual Report". U.S. Securities and Exchange Commission.

[4] "Washington Federal to buy Metropolitan Bancorp". Kitsap Sun. July 16, 1996.

[5] "WASHINGTON FEDERAL TO BUY UNITED SAVINGS AND LOAN". The New York Times. Reuters. May 21, 2003.

[6] "Washington Federal, Inc. to Acquire First Mutual Bancshares, Inc" (Press release). Globe Newswire. July 2, 2007.

[7] "FDIC Failed Bank Information for Horizon Bank, Bellingham, WA". Federal Deposit Insurance Corporation.

[8] GALLAGHER, DAVE; STARK, JOHN (January 8, 2010). "Regulators shut down Horizon Bank; Washington Federal takes over". The Bellingham Herald.

[9] Kish, Matthew (April 5, 2012). "South Valley Bank sold to Washington Federal". American City Business Journals.

[10] Gallen, Tim (January 24, 2014). "Washington Federal buys 23 retail branches in Arizona, Nevada from Bank of America". American City Business Journals.

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