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.
 | |
 WaFd Bank branch in Downtown Portland, Oregon | |
| Formerly | Washington Federal |
|---|---|
| Company type | Public |
| Nasdaq: WAFD S&P 600 component | |
| Industry | Financial services |
| Founded | January 1, 1917 |
| 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 |
 US$ 200 million (September 30, 2024) | |
| Total assets |  US$ $26.252 billion (September 30, 2024) |
| Total equity | US$ $2.757 billion (September 30, 2024) |
Number of employees | 2,208 (September 30, 2024) |
| Parent | WaFd, Inc. |
| Website | www |
| Footnotes / references [1] | |
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".
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]
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[3]
- 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.[4]
- First Mutual Bank, Bellevue, Washington, 2008[5]
- Horizon Bank (18 branches), seized by the Federal Deposit Insurance Corporation after bank failure, Bellingham, Washington, 2010[6][7]
- Charter Bank, 6 branches, Albuquerque, New Mexico, 2011 [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]
- Luther Burbank Savings in California and Washington, March 2024.[11]
References
edit- ^ a b "Washington Federal, Inc. 2024 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ^ "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. June 9, 2011. 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.
- ^ "New signs mark WaFd's buyout of Luther Burbank Savings in Santa Rosa". March 4, 2024.
