Washington Federal
Washington Federal Bank, National Association, d/b/a WaFd Bank, is a bank based in Seattle, Washington. It is the primary subsidiary of Washington Federal, Inc., a bank holding company. It operates 235 branches in eight western states. WaFd Bank is one of the largest banking institutions in the United States
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| WaFd Bank | |
| Type | Public company |
| NASDAQ: WAFD S&P 400 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 |
 $0.205 billion (2018) | |
| Total assets | $16.188 billion (2018) |
| Total equity |  $1.976 billion (2018) |
Number of employees | 1,877 (2018) |
| Website | www |
| Footnotes / references [1] | |
History
The bank was founded on April 24, 1917, as Ballard Savings and Loan.
In 1958, it merged with and took the name of Washington Federal Savings and Loan.
The bank demutualized in 1982.
The present holding company structure was adopted in 1995.
In 2019, the bank was rebranded as WaFd Bank.
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[2]
- 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.[3]
- First Mutual Bank, Bellevue, Washington, 2008[4]
- Horizon Bank (18 branches), seized by the Federal Deposit Insurance Corporation after bank failure, Bellingham, Washington, 2010[5][6]
- South Valley Bancorp Inc., Klamath Falls, Oregon, 2012[7]
- 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[8]
References
- "Washington Federal, Inc. 2018 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- "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.
- 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.
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