Sign in

WAFD on Nasdaq

WaFd Bank

Logo: Washington Federal, Inc., Public domain, via Wikimedia Commons5

Seattle-based bank

WaFd Bank (formerly known as Washington Federal) is a regional bank based in Seattle, Washington. It operates 210 branches in Washington, Oregon, Idaho, Nevada, Utah, Arizona, New Mexico, California, and Texas. It is on the list of largest banks in the United States.3 Wikipedia text CC BY-SA 4.0

Price unavailable

Last updated Oct 21, 2026.

Overview

$29.6MRevenue, fiscal 20256
$226.1MNet income, fiscal 20256
1917Founded1

Compare with BANC OF CALIFORNIA, INC., Camden National Corporation or SHORE BANCSHARES INC, or pick any stock.

  • TickerWAFD on Nasdaq1
  • Industryeconomics of banking, financial sector, financial services1
  • HeadquartersSeattle1
  • Websitewww.wafdbank.com
  • Incorporated inWA7
  • Business address425 Pike Street, Seattle, Wa 981017
  • Filer categoryLarge accelerated filer7
  • Legal formCorporation4
  • LEID38AC76TAMYI50NBPX334
  • StatusActive4
  • LEI statusIssued and current4
  • Registered address425 Pike St, 98101 Seattle, United States4
  • Registered withFederal Deposit Insurance Corporation, 280884

See how the biggest companies compare on our leaderboards

WaFd Bank Headquarters
Photo: Dclemens1971, CC BY 4.0, via Wikimedia Commons9

WaFd Bank (formerly known as Washington Federal) is a regional bank based in Seattle, Washington. It operates 210 branches in Washington, Oregon, Idaho, Nevada, Utah, Arizona, New Mexico, California, and Texas. It is on the list of largest banks in the United States.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

762.5%Net margin6
7.8%Revenue growth, 20256
7.4%Return on equity6
$208.2MFree cash flow6

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Income tax22¢$63.6M
  • Profit78¢$226.1M

Out of $29.6M in revenue.6

Where each dollar of operating cash went, fiscal 2025

  • Capital spending12¢$28.7M
  • Dividends paid36¢$84.6M
  • Share buybacks43¢$101.9M
  • Kept or used elsewhere9¢$21.7M

Out of $237.0M of cash from operations.6

Financial statements

Revenue10111213146$29.6M in 2025+14% since 2018
0$10.0M$20.0M$30.0M2018: $25.9M$25.9M20182019: $24.9M$24.9M2019−4%2020: $23.7M$23.7M2020−5%2021: $24.7M$24.7M2021+4%2022: $25.9M$25.9M2022+5%2023: $26.1M$26.1M2023+0%2024: $27.5M$27.5M2024+6%2025: $29.6M$29.6M2025+8%
Net income10111213146$226.1M in 2025+11% since 2018
0$100.0M$200.0M$300.0M2018: $203.8M$203.8M20182019: $210.3M$210.3M2019+3%2020: $173.4M$173.4M2020−18%2021: $183.6M$183.6M2021+6%2022: $236.3M$236.3M2022+29%2023: $257.4M$257.4M2023+9%2024: $200.0M$200.0M2024−22%2025: $226.1M$226.1M2025+13%

Every line of the income statement as filed: the last 3 fiscal years, latest first.6

Period ending2025-09-302024-09-302023-09-30
Loans receivable$1.1B$1.2B$900.1M
Mortgage-backed securities$103.1M$59.8M$43.2M
Investment securities and cash equivalents$116.4M$146.1M$99.7M
Total Income$1.3B$1.4B$1.0B
Customer accounts$604.7M$532.4M$237.2M
Borrowings, senior debt and junior subordinated debentures$80.5M$178.4M$115.5M
Total interest expense$685.2M$710.9M$352.7M
Net interest income$654.2M$660.8M$690.2M
Provision for credit losses$7.8M$17.5M$41.5M
Net interest income after provision$646.5M$643.3M$648.7M
Gain on sale of investment securities$20.0K$342.0K$33.0K
Gain (loss) on termination of hedging derivatives$158.0K$241.0K-$867.0K
Loan fee income$6.9M$2.7M$3.9M
Deposit fee income$29.6M$27.5M$26.1M
Other income$34.5M$29.9M$23.1M
Total non-interest income$71.2M$60.7M$52.2M
Compensation and benefits$222.1M$234.1M$196.5M
Occupancy$44.9M$42.0M$41.6M
FDIC insurance premiums$20.2M$28.9M$20.0M
Product delivery$25.9M$24.0M$21.0M
Information technology$60.1M$53.3M$49.4M
Other expense$54.2M$65.9M$47.5M
Total non-interest expense$427.5M$448.3M$376.0M
Gain (loss) on real estate owned, net-$627.0K$304.0K$176.0K
Income before income taxes$289.6M$256.1M$325.1M
Income tax expense$63.6M$56.0M$67.7M
Net income$226.1M$200.0M$257.4M
Dividends on preferred stock$14.6M$14.6M$14.6M
Net income available to common shareholders$211.4M$185.4M$242.8M
Basic earnings per share (in dollars per share)$2.64$2.50$3.72
Diluted earnings per share (in dollars per share)$2.63$2.50$3.72
Dividends paid on common stock per share (in dollars per share)$1.07$1.03$0.99
Basic weighted average number of common shares outstanding (in shares)80.2M shares74.2M shares65.2M shares
Diluted weighted average number of common shares outstanding (in shares)80.3M shares74.3M shares65.3M shares

Compare WaFd Bank with another company

Corporate structure

WaFd Bank sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of WaFd Bank

  • WaFd Bank Seattle, Washington, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What WaFd Bank reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$444.4M6 Sep 30, 2025$422.4M6 Sep 30, 2024+5.2%
Accumulated depreciation$183.2M6 Sep 30, 2025$174.5M6 Sep 30, 2024+5.0%
Property and equipment, net$261.3M6 Sep 30, 2025$247.9M6 Sep 30, 2024+5.4%
Operating-lease assets (leased space)$48.0M6 Sep 30, 2025$37.5M6 Sep 30, 2024+28.1%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$657.3M6 Sep 30, 2025$2.4B6 Sep 30, 2024−72.4%
Loans, net of allowance$20.1B6 Sep 30, 2025$20.9B6 Sep 30, 2024−4.0%
Deposits held (banks)$21.4B6 Sep 30, 2025$21.4B6 Sep 30, 2024+0.3%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$414.7M6 Sep 30, 2025$411.4M6 Sep 30, 2024+0.8%
Finite-lived intangibles, net$27.4M6 Sep 30, 2025$37.1M6 Sep 30, 2024−26.2%

Properties, in its own words

The Company owns the building in which its principal executive offices are located in Seattle, Washington, as well as

certain branch properties. The Company evaluates on a continuing basis the suitability and adequacy of its offices, both

The rest of Item 2

branches and administrative centers, and has opened, relocated, remodeled or closed locations as necessary to maintain efficient

and attractive premises. For further information on these activities, see Notes J and N to the Consolidated Financial Statements

in “Item 8. Financial Statements and Supplementary Data” of this report.

Item 2 of the 10-K filed Nov 18, 2025.18

The story

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.

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.

In September 2026, WaFd, Inc. announced an agreement to merge with EverBank Financial Corp. in a deal valued at approximately US$3.9 billion. The combined bank is expected to be led by Greg Seibly as chief executive officer and Brent Beardall as president, subject to completion of the transaction and regulatory approvals.

Acquisitions

Seattle Federal Savings and Loan, 1971

First Federal Savings and Loan Association, Mount Vernon, Washington, 1978

United First Federal, Boise, Idaho, 1987

Read the full text

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

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.

First Mutual Bank, Bellevue, Washington, 2008

Horizon Bank (18 branches), seized by the Federal Deposit Insurance Corporation after bank failure, Bellingham, Washington, 2010

Charter Bank, 6 branches, Albuquerque, New Mexico, 2011

South Valley Bancorp Inc., Klamath Falls, Oregon, 2012

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

Luther Burbank Savings in California and Washington, March 2024.

From Wikipedia’s article on WaFd Bank, shared under CC BY-SA 4.0.8

Leadership

Who has led WaFd Bank, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Roy M. Whitehead2006–2017
  2. Diane Lea Kelleher2014
  3. Brent J. Beardall2017–now

Chair

  1. Roy M. Whitehead2006–2017

President

  1. Roy M. Whitehead2006–2015
  2. Brent J. Beardall2016–now

Chief financial officer

  1. Brent J. Beardall2006–2016
  2. Angela Dawne Veksler2010
  3. Diane Lea Kelleher2014–2015
  4. Vincent L. Beatty2016–2022
  5. Kelli Holz2023–now

Chief operating officer

  1. Mark Alan Schoonover2014
197019801990200020102020
Board members and other officers (44)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorDavid M. Grant named Feb 28, 202371
  • DirectorRandy M. Talbot named Feb 28, 202371
  • DirectorStephen M. Graham named Feb 28, 202371
  • DirectorSteve M. Singh named Feb 28, 202371

Products and brands

  • retail banking

Listed on Wikidata.1

Former names

  • WASHINGTON FEDERAL INCSep 23, 1996 to Sep 28, 20237

Timeline

  1. Oct 5, 20268-K Regulation FD disclosure72
  2. Sep 8, 20268-K Entered a material agreement; Unregistered sale of shares; Executive or director change73
  3. Aug 11, 20268-K Other events74
  4. Jul 28, 20268-K Regulation FD disclosure75
  5. Jul 17, 20268-K Results of operations76
  6. Jul 6, 20268-K Regulation FD disclosure77
  7. May 12, 20268-K Other events78
  8. May 5, 20268-K Regulation FD disclosure79
  9. Apr 17, 20268-K Results of operations80
  10. Apr 2, 20268-K Regulation FD disclosure81
  11. Mar 2, 20268-K Executive or director change; Regulation FD disclosure82
  12. Feb 23, 20268-K Regulation FD disclosure83
  13. Nov 1, 2017New chief executive Brent J. Beardall becomes CEO19
  14. Apr 23, 2014New chief executive Diane Lea Kelleher becomes CEO20
  15. Feb 14, 2006New chief executive Roy M. Whitehead becomes CEO21
  16. 1917Founded Founded1

Calendar

When it reported results

  1. Jul 17, 2026Reported quarterly or annual results76
  2. Apr 17, 2026Reported quarterly or annual results80
  3. Jan 16, 2026Reported quarterly or annual results84
  4. Oct 29, 2025Reported quarterly or annual results85
  5. Jul 18, 2025Reported quarterly or annual results86
  6. Apr 15, 2025Reported quarterly or annual results87
  7. Jan 21, 2025Reported quarterly or annual results88
  8. Oct 18, 2024Reported quarterly or annual results89

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

370 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 112 major events, 163 insider forms, 22 large holders, 1 private raises, 52 other. The latest 20:

  1. Oct 5, 20268-K EDGAR
  2. Sep 28, 2026DEFA14A EDGAR
  3. Sep 18, 2026DEFA14A EDGAR
  4. Sep 11, 2026DEFA14A EDGAR
  5. Sep 10, 2026DEFA14A EDGAR
  6. Sep 8, 2026DEFA14A EDGAR
  7. Sep 8, 2026DEFA14A EDGAR
  8. Sep 8, 2026DEFA14A EDGAR
  9. Sep 8, 2026DEFA14A EDGAR
  10. Sep 8, 2026DEFA14A EDGAR
  11. Sep 8, 2026DEFA14A EDGAR
  12. Sep 8, 20268-K EDGAR
  13. Aug 14, 2026SCHEDULE 13G EDGAR
  14. Aug 11, 20268-K EDGAR
  15. Aug 4, 202610-Q EDGAR
  16. Jul 28, 20268-K EDGAR
  17. Jul 17, 20268-K EDGAR
  18. Jul 6, 20268-K EDGAR
  19. Jun 18, 202611-K EDGAR
  20. May 12, 20268-K EDGAR

The 370 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

22 open-market trades by officers, directors and large owners since October 2021: 9 buys and 13 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Apr 24, 2026Robison Kim EEVP & Chief Operations OfficerSale22,000$35.28$776.2KForm 4
Feb 6, 2026Cooper Cathy EEVP & Chief Consumer BankerSale5,300$33.77$179.0KForm 4
Dec 3, 2025BEARDALL BRENT JPresident & CEOBuy3,000$16.85$50.5KForm 4
Nov 26, 2025BEARDALL BRENT JPresident & CEOBuy3,000$16.55$49.6KForm 4
Sep 17, 2025Singleton SeanDirectorSale1,004$31.71$31.8KForm 4
Nov 4, 2024Mauer RyanEVP & Chief Credit OfficerSale12,132$33.33$404.4KForm 4
Nov 4, 2024Cooper Cathy EEVP & Chief Consumer BankerSale7,500$32.53$244.0KForm 4
May 21, 2024Cooper Cathy EEVP & Chief Consumer BankerSale14,000$28.52$399.3KForm 4
May 15, 2023GRANT DAVID KDirectorBuy5,000$13.72$68.6KForm 4
May 11, 2023GRANT DAVID KDirectorBuy15,000$13.35$200.2KForm 4
May 11, 2023Endrizzi JamesSVP & Regional DirectorBuy748$13.31$10.0KForm 4
May 11, 2023TALBOT RANDALL HDirectorBuy5,000$25.18$125.9KForm 4
May 11, 2023GRANT DAVID KDirectorBuy10,000$24.94$249.4KForm 4
Mar 13, 2023BEARDALL BRENT JPresident & CEOBuy1,600$30.20$48.3KForm 4
Mar 10, 2023TALBOT RANDALL HDirectorBuy3,500$31.10$108.8KForm 4
Jan 23, 2023Robison Kim EEVP & Chief Operations OfficerSale7,148$34.00$243.0KForm 4
Jan 19, 2023Robison Kim EEVP & Chief Operations OfficerSale1,311$34.09$44.7KForm 4
Jan 18, 2023Cooper Cathy EEVP & Chief Consumer BankerSale15,000$34.25$513.8KForm 4
Jan 18, 2023Robison Kim EEVP & Chief Operations OfficerSale5,230$34.91$182.6KForm 4
Feb 10, 2022Bice ShawnDirectorSale3,812$35.27$134.4KForm 4

All 22 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Brent J. BeardallPresident and Chief Executive Officer$1.1M$3.8M98
2025Ryan M. MauerExecutive Vice President and Chief Credit Officer$500.0K$1.3M98
2025Kim E. RobisonExecutive Vice President and Chief Operating Officer$500.0K$1.3M98
2025Kelli J. HolzExecutive Vice President and Chief Financial Officer$500.0K$1.3M98
2025Cathy E. CooperExecutive Vice President and Chief Experience Officer$500.0K$1.3M98
2024Brent J. BeardallPresident and Chief Executive Officer$975.0K$4.0M98
2024Kim E. RobisonExecutive Vice President and Chief Operating Officer$500.0K$1.4M98
2024Kelli J. HolzExecutive Vice President and Chief Financial Officer$500.0K$1.4M98
2024Ryan M. MauerExecutive Vice President and Chief Credit Officer$500.0K$1.3M98
2024Cathy E. CooperExecutive Vice President and Chief Experience Officer$500.0K$1.2M98
2023Brent J. BeardallPresident and Chief Executive Officer$975.0K$6.3M98
2023Ryan M. MauerExecutive Vice President and Chief Credit Officer$400.0K$2.8M98
2023Kim E. RobisonExecutive Vice President and Chief Operating Officer$400.0K$2.7M98
2023Kelli J. HolzExecutive Vice President and Chief Financial Officer$400.0K$2.4M98
2023Cathy E. CooperExecutive Vice President and Chief Experience Officer$550.0K$2.2M98

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$11.7M 2023–2023
Money received by yearMoney received by year, 2023–2023: $11.7M in all. Private raises (Form D) $11.7M.$0$5M$10M$15M2023 · Private raises (Form D): $11.7M2023
Figures by year
YearPrivate raises (Form D)Total
2023$11.7M$11.7M

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Feb 15, 2023Raised $11.7 million in a private offering of equity71 Form D: 6 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.10,774,309$413.4M0.0%−269,887
Dimensional Fund Advisors LP4,964,442$190.5M0.0%+18,918
Vanguard Portfolio Management LLC4,755,020$182.5M0.0%−65,525
State Street Corp4,345,763$166.7M0.0%+130,140
Vanguard Capital Management LLC3,324,356$127.6M0.0%−102,919
Fuller & Thaler Asset Management, Inc.3,142,312$120.6M0.3%−112,275
Alliancebernstein L.P.3,807,514$119.6M0.0%+232,940
American Century Companies Inc2,416,568$92.7M0.0%+206,221
Geode Capital Management, LLC1,987,447$76.3M0.0%+35,117
Systematic Financial Management LP1,558,139$59.8M1.2%+19,788
Ameriprise Financial Inc1,094,307$42.0M0.0%+243,460
Charles Schwab Investment Management Inc1,020,988$39.2M0.0%−37,778
Frontier Capital Management Co LLC951,677$36.5M0.3%−122,875
Bank Of America Corp /de/903,179$34.7M0.0%−2,684
Northern Trust Corp831,630$31.9M0.0%+46,033
D. E. Shaw & Co., Inc.790,567$30.3M0.0%+238,720
Goldman Sachs Group Inc759,092$29.1M0.0%+263,308
Morgan Stanley736,410$28.3M0.0%−42,160
Wells Fargo & Company/mn690,969$26.5M0.0%−73,173
Bank of New York Mellon Corp690,349$26.5M0.0%+14,515
Two Sigma Investments, LP566,391$21.7M0.0%+14,690
Millennium Management LLC556,257$21.3M0.0%+348,330
Bridgeway Capital Management, LLC538,077$20.6M0.4%+13,926
Hotchkis & Wiley Capital Management LLC533,521$20.5M0.1%+1,520
Victory Capital Management Inc521,358$20.0M0.0%+28,328

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

2 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Jun 24, 2019Donna Shalala, HouseSale$1,001 - $15,000+173.6%Report
Mar 6, 2019Donna Shalala, HouseBuy$1,001 - $15,000−180.9%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How WaFd Bank is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARWAFD INC2
  • CIK0000936528
  • Employer ID (EIN)91-166160618
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company18
  • Incorporated inWashington18
  • Fiscal year endsSeptember 302
  • Industry code (SIC)6021 National Commercial Banks2
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance2
  • Business address425 Pike Street, Seattle, WA 981012
  • Mailing address425 Pike St, Seattle, WA 981012
  • Phone20662479302
  • Shares outstanding73,995,238 as of Jul 31, 202616
  • Public float$2.3B as of Mar 31, 202518
  • AuditorDeloitte & Touche LLP, Seattle, Washington PCAOB ID 34; it also attests to the company’s internal control over financial reporting18
  • On EDGAR sinceMay 10, 19962
  • Filings1,426 in all: 4 (640), 8-K (304), 10-Q (92), SC 13G/A (63), 3 (35), DEF 14A (30), 10-K (27), 144 (27)2
    All 48 form types

    11-K (25), SC 13G (25), 4/A (20), 425 (18), DEFA14A (13), UPLOAD (13), S-8 (10), CORRESP (9), 8-K/A (7), S-4 (6), S-4/A (6), 3/A (4), 424B5 (4), EFFECT (4), SCHEDULE 13G (4), 10-K/A (3), 10-K405 (3), 10-Q/A (3), 424B3 (3), ARS (3), S-3ASR (3), 8-A12B (2), SC TO-I/A (2), SCHEDULE 13G/A (2), 11-K/A (1), 25-NSE (1), 424B7 (1), CERT (1), CERTNAS (1), D (1), FWP (1), NT 10-K (1), NT 10-Q (1), POS AM (1), PRE 14A (1), RW (1), S-3 (1), SC 13D (1), SC 13D/A (1), SC TO-I (1)

  • Latest filingsAnnual report (10-K) Nov 18, 2025
    Quarterly report (10-Q) Aug 4, 2026
    Proxy statement (DEF 14A) Dec 19, 2025
    Latest 8-K (8-K) Oct 5, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $1.00 par value per shareWAFDNASDAQ Stock Market
Depositary Shares, Each Representing a 1/40th Interest in a Share of 4.875% Fixed Rate Series A Non-Cumulative Perpetual Preferred StockWAFDPNASDAQ Stock Market

From the cover page of the 10-K filed Nov 18, 2025 (Section 12(b) of the Exchange Act).18

Risk factors and legal proceedings

The risks WaFd Bank names in Item 1A of its 10-K filed Nov 18, 2025: 60 risks under these headings, as written.18

  • Ownership of our Common Stock involves risk. Investors should carefully consider, in addition to the other information
  • included in this Annual Report on Form 10-K, the following risk factors. The risks described below may adversely affect our
  • business, financial condition and results of operations. These risks are not the only risks we face; additional risks and
  • uncertainties not currently known or that are currently considered to be immaterial may also materially and adversely affect
  • our business.
  • Operational Risks
  • Fluctuating interest rates could adversely affect our business.
  • We are exposed to risks related to fraud and cyber-attacks.
  • Changes in our business operations and divestitures of lines of business may not be successful, resulting in a negative
  • impact on our operating results and financial condition.
  • Current uncertain economic conditions pose challenges, and could adversely affect our business, financial condition and
  • Changes to monetary policy by the Federal Reserve could adversely impact our results of operations.
The other 49 risks
  • Unstable global economic conditions may have serious adverse consequences on our business, financial condition, and
  • Inflationary pressures and rising prices may affect our results of operations and financial condition.
  • The development and use of Artificial Intelligence (“AI”) presents risks and challenges that may adversely impact our
  • We are exposed to risks related to our operational, technological, and third-party provided technology infrastructure.
  • We are subject to complex state and federal laws, rules, regulations and standards regarding data privacy and
  • cybersecurity, which impact how we conduct our business.
  • Our allowance for credit losses ("ACL") may not be adequate to cover future loan losses, which could adversely affect
  • our financial condition and results of operations.
  • Our risk management framework may not be effective in mitigating risks and losses to us.
  • If we are not able to retain or attract key employees, or if we were to suffer the loss of a significant number of
  • employees, we could experience a disruption in our business.
  • Climate change and related legislative and regulatory initiatives may materially affect the Company’s business and
  • events and other events beyond our control.
  • Regulatory and Litigation Risks
  • Our “Needs to Improve” rating under the Community Reinvestment Act (“CRA”) may restrict our operations and limit
  • our ability to pursue certain strategic opportunities.
  • Non-Compliance with banking rules and regulations could result in fines or sanctions, and curtail our expansion
  • opportunities.
  • We operate in a highly regulated industry, which limits the manner and scope of our business activities.
  • Changes in laws, regulations, government policy, oversight or increased enforcement activities by regulatory agencies
  • may increase our costs and adversely affect our business and operations.
  • Deposit insurance premiums could increase further in the future.
  • We are subject to various claims and litigation, which could result in significant expenses, losses and damage to our
  • Our real estate lending also exposes us to the risk of environmental liabilities.
  • Market and Industry Risks
  • Recent negative developments affecting the banking industry, and resulting media coverage, have eroded customer
  • confidence in the banking system.
  • A downturn in the real estate market would hurt our business.
  • Changes in retail distribution strategies and consumer behavior may adversely impact our business, financial condition
  • and results of operations.
  • We may suffer losses in our loan portfolio due to inadequate or faulty underwriting and loan collection practices.
  • Our operations are focused in the western United States, subjecting us to the risks of general economic conditions in
  • these market areas.
  • Impairment of goodwill may adversely impact future results of operations.
  • Competitive Risks
  • The Bank faces strong competition from other financial institutions and new market participants, offering services
  • similar to those offered by the Bank.
  • We rely, in part, on external financing to fund our operations and the unavailability of such funding in the future could
  • adversely impact our growth and prospects.
  • We may not be able to continue to grow organically or through acquisitions.
  • Our entry into California may present increased risk that may adversely impact our business, prospects and financial
  • Security Ownership Risks
  • The Company’s business or the value of its common shares could be negatively affected as a result of actions by activist
  • Our ability to pay dividends is subject to limitations that may affect our ability to continue to pay dividends to
  • Our 4.875% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (“Series A Preferred Stock”) ranks senior
  • to our Common Stock, and we are prohibited from paying dividends on our Common Stock unless we have paid
  • dividends on our Series A Preferred.
  • The market price for our Common Stock may be volatile.
  • There may be future sales or other dilution of the Company's equity, which may adversely affect the market price of our
  • Common Stock or depositary shares.
  • A person holding our Common Stock could have the voting power of their shares of Common Stock on all matters
  • significantly reduced under Washington's anti-takeover statutes, if the person acquires 10% or more of the voting stock
  • of the Company.

Legal proceedings

The Company and its consolidated subsidiaries are involved in legal proceedings occurring in the ordinary course of

business that in the aggregate are believed by management to be immaterial to the financial statements of the Company. The

effects of legal proceedings did not have a material impact on the Company's consolidated financial statements.

The opening of Item 3, Legal Proceedings.18

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13
  14. 14
  15. 15
  16. 16
  17. 17
  18. 18
  19. 19
  20. 20
  21. 21
  22. 22
  23. 23
  24. 24
  25. 25
  26. 26
  27. 27
  28. 28
  29. 29
  30. 30
  31. 31
  32. 32
  33. 33
  34. 34
  35. 35
  36. 36
  37. 37
  38. 38
  39. 39
  40. 40
  41. 41
  42. 42
  43. 43
  44. 44
  45. 45
  46. 46
  47. 47
  48. 48
  49. 49
  50. 50
  51. 51
  52. 52
  53. 53
  54. 54
  55. 55
  56. 56
  57. 57
  58. 58
  59. 59
  60. 60
  61. 61
  62. 62
  63. 63
  64. 64
  65. 65
  66. 66
  67. 67
  68. 68
  69. 69
  70. 70
  71. 71
  72. 72
  73. 73
  74. 74
    SEC EDGAROther events
  75. 75
  76. 76
  77. 77
  78. 78
    SEC EDGAROther events
  79. 79
  80. 80
  81. 81
  82. 82
  83. 83
  84. 84
  85. 85
  86. 86
  87. 87
  88. 88
  89. 89
  90. 90
  91. 91
  92. 92
  93. 93
  94. 94
  95. 95
  96. 96
  97. 97
  98. 98