WaFd Bank
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Data as of · sourced from FFIEC call reports. How we update
WaFd Bank is an FDIC-insured commercial bank headquartered in Seattle, WA, established in 1917 (FDIC certificate 28088), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $27.58B, up 3.2% from Q2 2025, the largest of 29 banks headquartered in Washington. Its CET1 capital ratio was 12.95% at Q2 2026, above regulatory requirements.
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 28088
- Headquarters
- Seattle, WA
- Established
- 1917
- Total assets, Q2 2026
- $27.58B
- Assets vs Q2 2025
- +3.2%
- CET1 ratio, Q2 2026
- 12.95%
- Domestic offices
- 214 FDIC institution directory, current count
- Routing number
- 325070980
- Latest call report
- Q2 2026, FFIEC 041 · WaFd Bank Q3 2026 call report, filed October 22, 2026 (preliminary)
- Holding company
- WAFD, INC.
- Asset rank in state
- 1st of 29 in Washington
WaFd Bank leans heavily on commercial real estate. Based in Seattle, Washington, it had $27.6 billion in assets at June 30, 2026, up 3.2% from a year earlier. It holds commercial real estate loans worth 3.4 times its capital, higher than about 9 in 10 of the 124 banks with $10 billion to $100 billion in assets (median 2.2 times). It also lost 2.1% of its deposits over the year, lower than about 9 in 10 banks its size (median 5.7%).
Delinquency has appeared in its $2.2 billion commercial and industrial book: 2.95% of those loans are past due or on nonaccrual, against almost none a year earlier. Its $3.1 billion non-owner-occupied commercial real estate book is improving, with 0.40% past due or on nonaccrual, down from 1.55% a year earlier. Its margin is thin by comparison: it keeps 2.82 cents of net interest income on every dollar of earning assets, lower than about three-quarters of banks its size (median 3.63 cents).
As of June 30, 2026, WaFd Bank reported a CET1 capital ratio of 12.95%, a return on assets of 0.98%, a nonperforming-loan ratio of 0.63% and a Texas ratio of 4.85%. The figures come from its call report filed with the FFIEC.
By total assets at Q2 2026, WaFd Bank is the largest of the 29 banks headquartered in Washington. Between Q1 2026 and Q2 2026, its total assets rose 0.1% to $27.58B, loans rose 0.3% and deposits fell 0.9%. The largest part of its loan book on June 30, 2026 was 1-4 family residential loans, at 37.6% of total loans, ahead of multifamily loans at 23.0%. By the capital ratios in its Q2 2026 call report, WaFd Bank meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 425 Pike St, Seattle, WA 98101
- County
- King
- Metro Area
- Seattle-Tacoma-Bellevue, WA
- Charter
- Commercial bank, state charter, Fed non-member, FDIC-supervised
- Primary Regulator
- FDIC
- FDIC Region
- San Francisco (Region 14)
- Federal Reserve member
- No
- Federal Reserve district
- District 12, San Francisco
- Fiduciary (trust) powers
- —
- Call Report form
- FFIEC 041
- Established
- January 1, 1917
- Former names
- Washington Federal Bank (2022-2025); Washington Federal Bank, National Association (2019-2022); Washington Federal, National Association (2013-2019); Washington Federal (2011-2013)
- Domestic offices
- 214 FDIC institution directory, current count
- Employees (FTE)
- 2,054
- Domestic deposits
- $21.05B
- Allowance for credit losses
- $214.8M
- Net charge-offs (YTD)
- $2.2M
- Average total assets
- $27.61B
- Average total loans
- $20.26B
- Average interest-bearing deposits
- $17.98B
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- No
- FDIC-insured since
- August 9, 1989
- FDIC Cert
- 28088
- Fed RSSD
- 656377
- SEC CIK
- 936528 → filed by WAFD, INC.
- Website
- www.wafdbank.com →
- Parent Holding Company
- WAFD, INC. (RSSD 3065617) · WAFD
Management
Senior officers at parent holding company, from SEC Form 3/4/5 disclosures
| Name | Role | Title |
|---|---|---|
| Brent J Beardall | CEO | President & CEO |
| Kelli Holz | CFO | EVP & CFO |
| Kim E Robison | COO | EVP & Chief Operations Officer |
| Ryan Mauer | CCO | EVP & Chief Credit Officer |
Profitability
Q2 annualizedCapital & Liquidity
Balance Sheet
Income Statement
Operating & Funding
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. How we compute these figures
Quarterly trends
From Q3 2023 to Q2 2026, WaFd Bank's total assets ranged from $22.46B (Q3 2023) to $30.14B (Q1 2024), and it earned a profit in all 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$27.58B total assets against $26.72B; $24.55B total liabilities against $23.69B.
$20.02B net loans and leases against $20.28B; $21.05B total deposits against $21.51B.
$5.05B securities against $3.90B; $674.8M cash and balances due against $809.3M.
$334.3M total interest income against $333.3M; $149.7M total interest expense against $162.6M.
$184.6M net interest income against $170.8M.
$20.9M total noninterest income against $15.8M; $108.3M total noninterest expense against $103.5M.
$11.0M provision for credit losses against $2.0M.
$68.0M net income against $63.2M.
0.98% return on assets against 0.94%; 2.82% net interest margin against 2.70%.
12.95% CET1 capital ratio against 13.43%; 9.21% tier 1 leverage ratio against 9.49%.
Inside the full WaFd Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeWatch flags
Automated conditions triggered on this bank's latest filing. Advisory only; see the source metric pages for full context. Each flag is tagged Regulatory when it cites an official supervisory threshold, or BRR analysis when it's our own band, informed by our data and models.
Commercial real estate loans exceed 300% of total capital, the threshold at which the 2006 interagency guidance flags a bank for heightened supervisory scrutiny. CRE concentration has been the central stress vector for regional banks since 2023. 2006 Interagency CRE Concentration Guidance (SR 07-1).
WaFd Bank rankings
Its closest position to the top of a national ranking is 78 of 4,196, for total assets; its furthest is 2,544 of 3,611, for ROA.
Quarterly trend: last 8 quarters
From Q3 2024 to Q2 2026, its return on assets ran from 0.72% (Q4 2024) to 0.99% (Q1 2026) and its net interest margin ran from 2.43% (Q4 2024) to 2.82% (Q2 2026).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 12.95% | 0.98% | 0.63% | 4.85% | 2.82% |
| Q1 2026 | 13.03% | 0.99% | 0.61% | 4.79% | 2.79% |
| Q4 2025 | 13.44% | 0.99% | 0.95% | 7.12% | 2.74% |
| Q3 2025 | 13.40% | 0.91% | 0.63% | 4.99% | 2.76% |
| Q2 2025 | 13.43% | 0.94% | 0.40% | 3.37% | 2.70% |
| Q1 2025 | 13.05% | 0.85% | 0.28% | 2.43% | 2.54% |
| Q4 2024 | 12.95% | 0.72% | 0.34% | 2.74% | 2.43% |
| Q3 2024 | 12.94% | 0.89% | 0.33% | 2.68% | 2.69% |
Swipe the table sideways to see every column.
Branch Network
View all 212 branches → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| WaFd Bank (main office) | Seattle , WA | 98101 | $3.81B |
| Santa Rosa Branch | Santa Rosa , CA | 95401 | $1.11B |
| Osuna Branch | Albuquerque , NM | 87109 | $845.0M |
| Midtown Branch | Dallas , TX | 75240 | $812.4M |
| San Rafael Branch | San Rafael , CA | 94901 | $412.9M |
| Bend- Bluff Drive Branch | Bend , OR | 97702 | $388.1M |
| Plaza Branch | Salt Lake City , UT | 84111 | $344.5M |
| Encino Branch | Encino , CA | 91436 | $306.5M |
| 5th & Alder Branch | Portland , OR | 97204 | $306.2M |
| Pasadena Branch | Pasadena , CA | 91101 | $285.0M |
| Spectrum Branch | Scottsdale , AZ | 85253 | $248.8M |
| Toluca Lake Branch | Burbank , CA | 91505 | $239.4M |
| Beverly Hills Branch | Beverly Hills , CA | 90212 | $239.2M |
| Biddle Road Branch | Medford , OR | 97504 | $237.4M |
| Long Beach Branch | Long Beach , CA | 90803 | $222.7M |
| Cornwall Branch | Bellingham , WA | 98225 | $222.0M |
| Los Altos Branch | Los Altos , CA | 94022 | $202.9M |
| Boise Main Branch | Boise , ID | 83702 | $176.0M |
| Anacortes Branch | Anacortes , WA | 98221 | $170.1M |
| Roswell Branch | Roswell , NM | 88201 | $165.9M |
| Aliante | North Las Vegas , NV | 89031 | $144.6M |
| San Jose Branch | San Jose , CA | 95130 | $134.6M |
| Bellevue West Branch | Bellevue , WA | 98004 | $134.3M |
| International District Branch | Seattle , WA | 98104 | $134.2M |
| Edmonds Branch | Edmonds , WA | 98020 | $133.7M |
Events & Regulatory History
Mergers, charter changes, enforcement actions, FDIC assistance, and (if applicable) failure events recorded against this institution. Click a year to see what else was happening across US banking that year.
| Date | Category | Event | Source |
|---|---|---|---|
| March 1, 2024 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| March 1, 2024 | Structure Change | Acquired Luther Burbank Savings Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| November 14, 2015 | Structure Change | Acquired First Mutual Sales Finance, Inc. Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| November 1, 2012 | Structure Change | Acquired South Valley Bank & Trust Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| October 31, 2012 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| December 17, 2011 | Structure Change | Acquired Western National Bank Failure, Government Assistance Provided for the acquired bank | FFIEC NIC |
| December 16, 2011 | Merger | Participated in FDIC Assisted Merger | FDIC |
| October 15, 2011 | Structure Change | Acquired Charter Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| January 9, 2010 | Structure Change | Acquired Horizon Bank Failure, Government Assistance Provided for the acquired bank | FFIEC NIC |
| January 8, 2010 | Merger | Participated in FDIC Assisted Merger | FDIC |
| February 2, 2008 | Structure Change | Acquired First Mutual Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| February 1, 2008 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| February 13, 2007 | Structure Change | Acquired First Federal Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| February 13, 2007 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| September 1, 2003 | Structure Change | Acquired United Savings and Loan Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| August 31, 2003 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| November 30, 1996 | Structure Change | Acquired Metropolitan Federal Savings and Loan Association of Seattle Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| November 30, 1996 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| May 14, 1994 | Structure Change | Acquired Great American Federal Savings Association Failure, Government Assistance Provided for the acquired bank | FFIEC NIC |
| March 13, 1993 | Structure Change | Acquired First Federal Savings Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| March 12, 1993 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| September 4, 1991 | Structure Change | Acquired First Federal Savings and Loan Association of Idaho Falls Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| September 3, 1991 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| June 23, 1990 | Structure Change | Acquired Family Federal Savings Association Failure, Government Assistance Provided for the acquired bank | FFIEC NIC |
| June 22, 1990 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| September 16, 1988 | Merger | Rtc Assisted Merger | FDIC |
| September 16, 1988 | Structure Change | Acquired Freedom Federal Savings and Loan Association Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| August 31, 1988 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| August 27, 1988 | Structure Change | Acquired Northwest Federal Savings and Loan Association Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| July 7, 1987 | Structure Change | Acquired United First Federal Savings and Loan Association Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
Sourced from the bank event history (FDIC, Federal Reserve NIC, OCC, and OTS). Showing the most recent 30 events, scroll the table for the full history.
Regulatory record
Facts as filed or published, not a rating.
- Enforcement actions
- 5 against the institution (OCC, OCC (former OTS))
- September 30, 2021, OCC: Civil Money Penalty (CMP): Washington Federal Bank, National Association
- August 16, 2021, OCC: Civil Money Penalty (CMP): Washington Federal Bank, National Association
- February 28, 2018, OCC: Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Washington Federal, National Association
- October 21, 2008, OCC (former OTS): Termination of Cease and Desist: Washington Federal Savings And Loan Association
- December 21, 2007, OCC (former OTS): Cease and Desist: Washington Federal Savings and Loan Association
- Period: Most recent institution action September 30, 2021. Source: FDIC, Federal Reserve and OCC enforcement releases.
- Deposit market share
- 4.1% of deposits in WA, rank 7 of 61 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 728 applications, 299 loans originated, $447.5M originated, across 9 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 52 loans, $1.4M approved, $27K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2025 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Consumer complaints
- 39 complaints in the last 4 full quarters. Raw counts, not adjusted for size
- Period: 2025-Q4 to 2026-Q3. Source: CFPB consumer complaint database.
- Not on file
- CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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Frequently asked about WaFd Bank
What are WaFd Bank's total assets?
As of the Q2 2026 filing, WaFd Bank reported total assets of $27.58 billion in its FFIEC call report.
Where is WaFd Bank headquartered?
It is headquartered in Seattle, WA, United States.
When was WaFd Bank founded?
It was established in 1917, per the FDIC institution directory.
Is WaFd Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #28088). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates WaFd Bank?
WaFd Bank's primary federal regulator is the FDIC.
What is WaFd Bank's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 12.95% in its Q2 2026 call report, above regulatory requirements.
How many branches does WaFd Bank operate?
It operates 214 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is WaFd Bank's Texas Ratio?
Its Texas Ratio is 4.85% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
What was WaFd Bank previously called?
The charter now named WaFd Bank has also operated as Washington Federal Bank (2022-2025), Washington Federal Bank, National Association (2019-2022), Washington Federal, National Association (2013-2019), Washington Federal (2011-2013), per FDIC structure-change records.
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