WaFd Bank

Last updated
WaFd Bank
FormerlyWashington Federal
Company type Public
Nasdaq:  WAFD
S&P 600 component
Industry Financial services
FoundedJanuary 1, 1917;108 years ago (1917-01-01)
Headquarters Seattle, Washington, United States
Number of locations
210 (September 30, 2024)
Area served
Washington, Oregon, Arizona, Idaho, Nevada, Utah, New Mexico, California, Texas
Key people
Brent J. Beardall, President and Chief Executive Officer
Kelli Holz, Chief Financial Officer
Cathy Cooper, Chief Consumer Banker
Ryan Mauer, Chief Credit Officer
Kim Robison, Chief Operating Officer
James Endrizzi, Chief Commercial Banker
Products Consumer Banking, Corporate Banking, Insurance, Investment Banking, Mortgage loans, Private Banking, Private equity, Wealth management, Credit cards, Financial Analysis
Decrease2.svg US$ 200 million (September 30, 2024)
Total assets Increase2.svg US$ $26.252 billion (September 30, 2024)
Total equity Decrease2.svg US$ $2.757 billion (September 30, 2024)
Number of employees
2,208 (September 30, 2024)
Parent WaFd, Inc.
Website www.wafdbank.com
Footnotes /references
[1]

Washington Federal Bank (doing business as WaFd Bank) is a bank based in Seattle, Washington. It operates 210 branches in Washington, Oregon, Idaho, Nevada, Utah, Arizona, New Mexico, California, and Texas. [1] It is on the list of largest banks in the United States.

Contents

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".

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. [2]

In January 2025, WaFd Bank announced it would exit mortgage lending after more than a century in the market, citing rising regulatory burdens and limited profitability, and refocus its business model on small business banking and commercial lending. [3]

Acquisitions

References

  1. 1 2 "Washington Federal, Inc. 2024 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ↑ "Our Company - Our Promise, Difference & Values". wafdbank. Retrieved 2023-10-14.
  3. ↑ WOOD, SUSAN (2025-02-12). "Why this buyer of Santa Rosa bank is exiting mortgage business after 117 years". The North Bay Business Journal. Retrieved 2025-06-26.
  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. ↑ "Washington Federal buys Charter Bank" . American City Business Journals . June 9, 2011. Archived from the original on 2011-08-13.
  10. ↑ Kish, Matthew (April 5, 2012). "South Valley Bank sold to Washington Federal" . American City Business Journals .
  11. ↑ Gallen, Tim (January 24, 2014). "Washington Federal buys 23 retail branches in Arizona, Nevada from Bank of America" . American City Business Journals .
  12. ↑ "New signs mark WaFd's buyout of Luther Burbank Savings in Santa Rosa". March 4, 2024.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.