Washington Federal, Inc., (stylized as WaFd Bank), is an American bank based in Seattle, Washington. It operates 235 branches throughout Washington, Oregon, Idaho, Nevada, Utah, Arizona, New Mexico, and Texas.[4]
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| WaFd Bank | |
| Company type | Public |
| Nasdaq: WAFD S&P 600 component | |
| Industry | Financial services |
| Founded | January 1, 1917 |
| 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)[1] |
| 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) [2] |
| US$ 219.186 million (2020)[2] | |
| US$ 173.438 million (2020)[2] | |
| Total assets |  US$ $18.794 billion (2020)[2] |
| Total equity | US$ $2.014 billion (2020)[2] |
Number of employees | 1,877 (2018) |
| Website | www |
| Footnotes / references [3] | |
WaFd Bank is the 77th largest bank in the United States.[5]
Products edit
WaFd specializes in both personal and business banking and offers a wide-range of services in both. WaFd also has specialized divisions in Government, Agribusiness, and Senior Housing.[6]
Executives edit
History edit
The bank was founded on April 24, 1917 in Ballard, Washington as Ballard Savings and Loan by a group of businessmen. In 1958, it merged with Washington Federal Savings and Loan Association of Bothell. The bank took the name Washington Federal for "wider geographical acceptance".[8]
The bank demutualized in 1982 and the present holding company structure was adopted in 1995.
In 2019, the bank was rebranded as WaFd Bank (pronounced Wah-Fed), a long-used nickname for the bank.[9]
Mergers and acquisitions edit
- 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[10]
- 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.[11]
- First Mutual Bank, Bellevue, Washington, 2008[12]
- Horizon Bank (18 branches), seized by the Federal Deposit Insurance Corporation after bank failure, Bellingham, Washington, 2010[13][14]
- Charter Bank, 6 branches, Albuquerque, New Mexico, 2011 [15]
- South Valley Bancorp Inc., Klamath Falls, Oregon, 2012[16]
- 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[17]
- Luther Burbank Savings in California and Washington, 2024.[18]
References edit
- ^ "Meet our Banking Executives". WaFd Bank. Retrieved 2021-03-04.
- ^ 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.
- ^ "Bank Accounts, Home Loans, and Commercial Financing | WaFd Bank". wafdbank. Retrieved 2023-10-14.
- ^ "FRB: Large Commercial Banks-- June 30, 2023". www.federalreserve.gov. Retrieved 2023-10-14.
- ^ "WaFd Bank - Specialized Industries". wafdbank. Retrieved 2023-10-14.
- ^ a b c d e f "Meet Our Banking Executives". wafdbank. Retrieved 2023-10-14.
- ^ "Company History". wafdbank. Retrieved 2023-10-14.
- ^ "Our Company - Our Promise, Difference & Values". wafdbank. Retrieved 2023-10-14.
- ^ "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.
- ^ "Washington Federal buys Charter Bank". American City Business Journals. 2011-06-09. Archived from the original on 2011-08-13.
- ^ 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.
- ^ https://www.northbaybusinessjournal.com/article/industrynews/new-signs-erected-at-former-luther-burbank-savings-in-santa-rosa-marking-wa/
