WaFd Bank

Last updated
WaFd Bank
FormerlyWashington Federal
Company type Public
Nasdaq:  WAFD
S&P 600 component
Industry Financial services
FoundedJanuary 1, 1917;107 years ago (1917-01-01)
Headquarters Seattle, Washington, United States
Number of locations
200+
Area served
Washington, Oregon, Arizona, Idaho, Nevada, Utah, New Mexico, California, Texas
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
RevenueDecrease2.svg US$ 621.265 million (2020) [2]
Decrease2.svg US$ 219.186 million (2020) [2]
Decrease2.svg US$ 173.438 million (2020) [2]
Total assets Increase2.svg US$ $18.794 billion (2020) [2]
Total equity Decrease2.svg US$ $2.014 billion (2020) [2]
Number of employees
1,877 (2018)
Parent WaFd, Inc.
Website www.wafdbank.com
Footnotes /references
[3]

Washington Federal Bank (doing business as WaFd Bank) is an American bank based in Seattle, Washington. It operates over 200 branches throughout Washington, Oregon, Idaho, Nevada, Utah, Arizona, New Mexico, California, and Texas. [4]

Contents

WaFd Bank is the 63rd largest bank in the United States. [5]

Products

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

History

Washington Federal's old logo prior to WaFd Bank rebranding in 2021 Washington Federal Logo.png
Washington Federal's old logo prior to WaFd Bank rebranding in 2021

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

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References

  1. "Meet our Banking Executives". WaFd Bank. Retrieved 2021-03-04.
  2. 1 2 3 4 5 "Washington Federal 2020 Form 10-K". United States Securities and Exchange Commission. 2020-11-23. Retrieved 2021-03-04.
  3. "Washington Federal, Inc. 2018 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  4. "Bank Accounts, Home Loans, and Commercial Financing | WaFd Bank". wafdbank. Retrieved 2024-05-29.
  5. "FRB: Large Commercial Banks-- March 31, 2024". www.federalreserve.gov. Retrieved 2024-05-29.
  6. "WaFd Bank - Specialized Industries". wafdbank. Retrieved 2023-10-14.
  7. 1 2 3 4 5 6 "Meet Our Banking Executives". wafdbank. Retrieved 2023-10-14.
  8. "Company History". wafdbank. Retrieved 2023-10-14.
  9. "Our Company - Our Promise, Difference & Values". wafdbank. Retrieved 2023-10-14.
  10. "Washington Federal to buy Metropolitan Bancorp". Kitsap Sun . July 16, 1996.
  11. "WASHINGTON FEDERAL TO BUY UNITED SAVINGS AND LOAN" . The New York Times . Reuters. May 21, 2003.
  12. "Washington Federal, Inc. to Acquire First Mutual Bancshares, Inc" (Press release). Globe Newswire. July 2, 2007.
  13. "FDIC Failed Bank Information for Horizon Bank, Bellingham, WA". Federal Deposit Insurance Corporation .
  14. GALLAGHER, DAVE; STARK, JOHN (January 8, 2010). "Regulators shut down Horizon Bank; Washington Federal takes over". The Bellingham Herald .
  15. "Washington Federal buys Charter Bank". American City Business Journals . 2011-06-09. Archived from the original on 2011-08-13.
  16. Kish, Matthew (April 5, 2012). "South Valley Bank sold to Washington Federal". American City Business Journals .
  17. Gallen, Tim (January 24, 2014). "Washington Federal buys 23 retail branches in Arizona, Nevada from Bank of America". American City Business Journals .
  18. https://www.northbaybusinessjournal.com/article/industrynews/new-signs-erected-at-former-luther-burbank-savings-in-santa-rosa-marking-wa/