WaFd Bank
Seattle-based bank
WaFd Bank Formerly Washington Federal Company type Public Nasdaq : WAFD S&P 600 componentIndustry Financial services Founded January 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 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) 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]
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
Brent J. Beardall, President and Chief Executive Officer[ 7]
Kelli Holz, Chief Financial Officer[ 7]
Cathy Cooper, Chief Consumer Banker[ 7]
Ryan Mauer, Chief Credit Officer[ 7]
Kim Robison, Chief Operating Officer[ 7]
James Endrizzi, Chief Commercial Banker[ 7]
History
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
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
^ "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 2024-05-29 .
^ "FRB: Large Commercial Banks-- March 31, 2024" . www.federalreserve.gov . Retrieved 2024-05-29 .
^ "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 .
^ "New signs mark WaFd's buyout of Luther Burbank Savings in Santa Rosa" . 4 March 2024.
External links