Company Profile
- WaFd, Inc. (NASDAQ: WAFD) (“the company”) is the BHC for main subsidiary, Washington Federal Bank, which operates 208 branches in the Western U.S., including a notable presence in the Pacific Northwest (2nd largest deposit market share among local banks).
- The company has undergone a transformative shift in its business model over the past decade. In 2013, WAFD converted from a thrift charter to a national bank charter and subsequently transitioned to a WA state-chartered commercial bank in 2022. As a result of this shift, the loan portfolio has experienced a notable change in composition. Consumer lending has declined significantly, from 74% of total loans in 2014 to just 41% as of 2Q25, while commercial balances have expanded meaningfully. This transition has been driven, in part, by strong growth in the CRE portfolio through both originations and acquisition activity. A key milestone was the acquisition of