EX-99.2 3 dex992.htm FACT SHEET AS OF JUNE 30, 2010

Fact Sheet as of June 30, 2010

Exhibit 99.2

Washington Federal, Inc.

Fact Sheet

June 30, 2010

($ in Thousands)

		12/09 QTR							3/10 QTR								6/10 QTR
Loan Loss Reserve-Total		$	190,549						$	194,553							$	173,427
- General			75,152							85,730								89,759
- Specific			115,397							108,823								83,668
Net Charge-offs (Recoveries) for the Qtr			46,037							59,419								41,862
Non-performing Assets - Total			553,285							538,928								473,121
- REO			133,235							148,813								149,305
- REHI			50,273							55,243								31,481
- Non-accrual			369,777							334,872								292,335
Troubled Debt Restructuring			202,674							244,821								262,683
Regulatory Capital Ratios (excludes holding co.)
- Tangible			1,424,078			11.53	%			1,504,519				11.17	%			1,518,120				11.36	%
- Core			1,424,078			11.53				1,504,519				11.17				1,518,120				11.36
- Risk Based			1,505,230			22.36				1,587,328				22.03				1,604,617				22.72
		12/09 QTR							3/10 QTR				3/10 YTD				6/10 QTR				6/10 YTD
Loan Originations - Total		$	399,067						$	325,842			$	724,909			$	383,415			$	1,108,324
Single-Family Residential			181,228							106,195				287,423				141,283				428,706
Construction - Speculative			21,524							30,802				52,326				46,651				98,977
Construction - Custom			72,525							57,349				129,874				70,226				200,100
Land - Acquisition & Development			16,395							4,087				20,482				6,501				26,983
Land - Consumer Lot Loans			3,359							2,132				5,491				3,275				8,766
Multi-Family			18,840							16,212				35,052				6,308				41,360
Commercial Real Estate			11,815							3,702				15,517				24,578				40,095
Commercial & Industrial			55,433							90,047				145,480				67,210				212,690
HELOC			17,381							14,543				31,924				16,357				48,281
Consumer			567							773				1,340				1,026				2,366
		12/09 QTR							3/10 QTR				3/10 YTD				6/10 QTR				6/10 YTD
Loan Servicing Fee Income		$	1,887						$	1,791			$	3,678			$	1,679			$	5,358
Other Fee Income			753							1,137				1,890				1,026				2,916
Total Fee Income		$	2,640						$	2,929			$	5,569			$	2,706			$	8,274
		12/09 QTR							3/10 QTR				3/10 YTD				6/10 QTR				6/10 YTD
Average Loans		$	9,048,527						$	8,855,140			$	8,952,896			$	8,734,735			$	8,880,176
Average Earning Assets			12,012,469							12,545,759				12,276,183				12,641,835				12,398,067
Average Assets			12,646,671							13,446,964				13,101,725				13,765,244				13,297,034
Average Paying Liabilities			10,834,644							11,690,254				11,257,747				11,834,265				11,449,920
Operating Expenses/Average Assets			0.85	%						1.19	%			1.02	%			0.97	%			1.00	%
Efficiency Ratio			26.56							21.25				23.11				31.85				25.43
Amortization of Intangibles		$	728						$	580			$	1,308			$	431			$	1,739
Net Interest Margin			3.26	%						3.09	%			3.17	%			3.14	%			3.16	%
Repayments		12/09 QTR							3/10 QTR				3/10 YTD				6/10 QTR				6/10 YTD
Loans		$	453,422						$	464,191			$	917,613			$	523,829			$	1,441,442
MBS			188,159							204,362				392,521				190,356				582,877
EOP Numbers		12/09 QTR							3/10 QTR								6/10 QTR
Shares Issued and Outstanding			112,439,949							112,455,059								112,474,412
Share repurchase information		12/09 QTR							3/10 QTR				3/10 YTD				6/10 QTR				6/10 YTD
Remaining shares auth. for repurchase			2,888,314							2,888,314				2,888,314				2,888,314				2,888,314
Shares repurchased			—							—				—				—				—
Average share repurchase price		$	—						$	—			$	—			$	—			$	—

Page 1 of 5

Washington Federal, Inc.

Fact Sheet

June 30, 2010

($ in Thousands)

Tangible Common Book Value		12/09 QTR							3/10 QTR							6/10 QTR
$ Amount		$	1,477,681						$	1,558,088						$	1,577,627
Per Share			13.14							13.86							14.03
# of Employees			1,085							1,275							1,235
Tax Rate - Going Forward			36.00	%						36.00	%						36.00	%
Investments		12/09 QTR							3/10 QTR							6/10 QTR
Available-for-sale:
Agency MBS		$	1,826,787						$	1,912,336						$	1,822,950
Other			93,378							364,727							432,837
		$	1,920,165						$	2,277,063						$	2,255,787
Held-to-maturity:
Agency MBS		$	90,715						$	84,903						$	78,165
Other			7,080							7,055							7,055
		$	97,795						$	91,958						$	85,220
		AS OF 12/31/09							AS OF 3/31/10							AS OF 6/30/10
Gross Loan Portfolio by Category *		AMOUNT				%			AMOUNT				%			AMOUNT				%
Single-Family Residential		$	6,755,256			72.8	%		$	6,684,914			73.5	%		$	6,632,333			74.1	%
Construction - Speculative			216,793			2.3				196,738			2.2				180,523			2.0
Construction - Custom			266,537			2.9				268,407			3.0				275,509			3.1
Land - Acquisition & Development			479,353			5.2				408,029			4.5				343,567			3.8
Land - Consumer Lot Loans			191,413			2.1				188,475			2.1				187,548			2.1
Multi-Family			706,494			7.6				713,310			7.8				707,784			7.9
Commercial Real Estate			301,932			3.3				287,018			3.2				312,186			3.5
Commercial & Industrial			111,356			1.2				107,700			1.2				96,227			1.1
HELOC			128,277			1.4				128,238			1.4				119,540			1.3
Consumer			111,869			1.2				103,960			1.1				101,219			1.1
			9,269,280			100	%			9,086,789			100	%			8,956,436			100	%
Less:
ALL			190,549							194,553							173,427
Loans in Process			186,763							167,913							169,423
Deferred Net Origination Fees			36,435							35,838							35,795
			413,747							398,304							378,645
		$	8,855,533						$	8,688,485						$	8,577,791
		AS OF 12/31/09							AS OF 3/31/10							AS OF 6/30/10
Net Loan Portfolio by Category *		AMOUNT				%			AMOUNT				%			AMOUNT				%
Single-Family Residential		$	6,702,901			75.8	%		$	6,618,133			76.2	%		$	6,558,795			76.5	%
Construction - Speculative			156,972			1.8				131,949			1.5				111,691			1.3
Construction - Custom			149,418			1.7				163,272			1.9				169,902			2.0
Land - Acquisition & Development			339,628			3.8				293,568			3.4				250,365			2.9
Land - Consumer Lot Loans			188,883			2.1				181,187			2.1				183,669			2.1
Multi-Family			699,977			7.9				705,996			8.1				700,333			8.2
Commercial Real Estate			286,336			3.2				273,455			3.1				300,086			3.5
Commercial & Industrial			101,582			1.1				96,376			1.1				89,586			1.0
HELOC			127,132			1.4				127,081			1.5				118,373			1.4
Consumer			102,704			1.2				97,468			1.1				94,991			1.1
		$	8,855,533			100	%		$	8,688,485			100	%		$	8,577,791			100	%

* Excludes covered loans

Page 2 of 5

Washington Federal, Inc.

Fact Sheet

June 30, 2010

($ in Thousands)

		AS OF 12/31/09									AS OF 3/31/10									AS OF 6/30/10
Deposits by State		AMOUNT				%			#		AMOUNT				%			#		AMOUNT				%			#
WA		$	3,639,792			45.7	%		54		$	4,416,186			49.2	%		64		$	4,341,225			48.9	%		64
ID			597,072			7.5			16			612,930			6.8			16			618,337			7.0			16
OR			1,358,302			17.0			28			1,400,498			15.6			28			1,390,110			15.6			28
UT			326,606			4.1			10			345,641			3.9			10			350,591			3.9			10
NV			178,040			2.2			4			195,062			2.2			4			198,158			2.2			4
TX			126,396			1.6			6			133,775			1.5			6			130,575			1.5			6
AZ			1,285,539			16.1			21			1,371,579			15.3			21			1,364,811			15.4			21
NM			459,507			5.8			11			490,981			5.5			11			492,940			5.5			11
Total		$	7,971,254			100	%		150		$	8,966,652			100	%		160		$	8,886,747			100	%		160
		12/09 QTR									3/10 QTR									6/10 QTR
Deposits by Type		AMOUNT				%					AMOUNT				%					AMOUNT				%
Checking (noninterest)		$	112,041			1.4	%				$	167,050			1.9	%				$	178,800			2.0	%
NOW (interest)			442,312			5.5						513,969			5.7						494,844			5.6
Savings (passbook/stmt)			201,867			2.5						222,213			2.5						230,256			2.6
Money Market			1,333,251			16.7						1,483,569			16.5						1,610,080			18.1
CD’s			5,881,783			73.9						6,579,851			73.4						6,372,767			71.7
Total		$	7,971,254			100	%				$	8,966,652			100	%				$	8,886,747			100	%
Deposits greater than $250,000 - EOP		$	2,986,107			(1	)				$	3,464,827			(1	)				$	873,707
(1)    This amount is for deposits > $100,000 - EOP
Brokered Deposits		$	—								$	—								$	—
Non-Performing Assets		12/09 QTR									3/10 QTR									6/10 QTR
Restructured loans:
Single-Family Residential		$	161,156			79.6	%				$	191,807			78.4	%				$	205,684			78.2	%
Construction - Speculative			13,457			6.6						11,772			4.8						9,685			3.7
Construction - Custom			—			0.0						—			0.0						—			0.0
Land - Acquisition & Development			24,337			12.0						33,625			13.7						34,404			13.1
Land - Consumer Lot Loans			3,724			1.8						6,160			2.5						6,975			2.7
Multi-Family			—			0.0						1,379			0.6						4,898			1.9
Commercial Real Estate			—			0.0						—			0.0						—			0.0
Commercial & Industrial			—			0.0						—			0.0						959			0.4
HELOC			—			0.0						78			0.0						78			0.0
Consumer			—			0.0						—			0.0						—			0.0
Total restructured loans (2)			202,674			100	%					244,821			100	%					262,683			100	%
Non-accrual loans:
Single-Family Residential			134,123									132,957									136,867
Construction - Speculative			61,558									62,169									51,186
Construction - Custom			—									—									—
Land - Acquisition & Development			151,005									113,136									74,183
Land - Consumer Lot Loans			—									—									—
Multi-Family			2,587									3,703									3,167
Commercial Real Estate			908									2,309									6,036
Commercial & Industrial			18,843									19,683									20,258
HELOC			—									—									—
Consumer			753									915									638
Total non-accrual loans			369,777									334,872									292,335
Total REO			133,235									148,813									149,305
Total REHI			50,273									55,243									31,481
Total non-performing assets		$	553,285								$	538,928								$	473,121
Total non-performing assets and performing restructured loans		$	725,906								$	763,058								$	698,091
Total non-performing assets and performing restructured loans as a % of total assets			5.73	%								5.53	%								5.09	%
(2)    Restructured loans were as follows:
Performing		$	172,621			85.2	%				$	224,130			91.5	%				$	224,970			85.6	%
Non-accrual *			30,053			14.8						20,691			8.5						37,713			14.4
*      - Included in “Total non-accrual loans” above		$	202,674			100	%				$	244,821			100	%				$	262,683			100	%

Page 3 of 5

Washington Federal, Inc.

Fact Sheet

June 30, 2010

($ in Thousands)

Net Charge-offs by Category		12/09 QTR			3/10 QTR			6/10 QTR
Single-Family Residential		$	6,083		$	9,995		$	6,102
Construction - Speculative			8,414			6,613			3,987
Construction - Custom			95			—			—
Land - Acquisition & Development			29,148			39,479			24,278
Land - Consumer Lot Loans			331			497			453
Multi-Family			—			225			422
Commercial Real Estate			—			127			97
Commercial & Industrial			227			868			5,592
HELOC			69			—			—
Consumer			1,670			1,615			931
Total net charge-offs		$	46,037		$	59,419		$	41,862
SOP 03-3		1/8/2010			3/31/2010			6/30/2010
Accretable Yield		$	36,731		$	33,345		$	30,107
Non-Accretable Yield			214,920			214,920			214,920
Total Contractual Payments		$	251,651		$	248,265		$	245,027

Page 4 of 5

Washington Federal, Inc.

Fact Sheet

June 30, 2010

Delinquency Summary

excludes covered loans

($ in Thousands)

TYPE OF LOANS		#LOANS		AVG Size		AMOUNT OF LOANS NET OF LIP & CHG-OFFs			30		60		90		Total		% based on #			Previous Year		$ Delinquent		% based on $
JUNE 30, 2010
Single-Family Residential		35,623		188,237			6,705,575,706		281		100		478		859		2.41	%		736		207,150,954		3.09	%
Construction - Speculative		631		235,663			148,703,070		5		5		109		119		18.86	%		162		38,208,407		25.69	%
Construction - Custom		757		225,290			170,544,432		5		—		3		8		1.06	%		10		2,906,142		1.70	%
Land - Acquisition & Development		425		775,420			329,553,425		1		4		53		58		13.65	%		170		52,528,790		15.94	%
Land - Consumer Lot Loans		1,871		100,058			187,208,455		17		9		44		70		3.74	%		50		9,772,739		5.22	%
Multi-Family		1,249		565,123			705,839,005		4		1		7		12		0.96	%		11		6,876,161		0.97	%
Commercial Real Estate		602		507,940			305,779,948		8		8		10		26		4.32	%		10		14,496,428		4.74	%
Commercial & Industrial		662		145,272			96,170,130		5		3		7		15		2.27	%		19		14,524,536		15.10	%
HELOC		1,985		60,378			119,851,018		1		3		8		12		0.60	%		10		1,114,144		0.93	%
Consumer		16,338		6,218			101,586,074		261		141		100		502		3.07	%		601		3,239,619		3.19	%
		60,143				$	8,870,811,262		588		274		819		1,681		2.80	%		1,779		350,817,921		3.95	%
MARCH 31, 2010
Single-Family Residential		35,773		186,870			6,684,915,094		247		119		479		845		2.36	%		633		207,381,197		3.10	%
Construction - Speculative		670		293,639			196,737,834		13		16		107		136		20.30	%		206		45,062,504		22.90	%
Construction - Custom		725		370,215			268,406,237		2		1		3		6		0.83	%		10		3,255,789		1.21	%
Land - Acquisition & Development		511		798,490			408,028,305		11		4		75		90		17.61	%		175		97,344,748		23.86	%
Land - Consumer Lot Loans		1,870		100,789			188,474,631		13		10		41		64		3.42	%		56		8,433,874		4.47	%
Multi-Family		1,266		563,436			713,310,327		1		4		8		13		1.03	%		6		7,653,884		1.07	%
Commercial Real Estate		483		594,241			287,018,632		8		1		4		13		2.69	%		9		6,888,431		2.40	%
Commercial & Industrial		679		158,615			107,699,611		5		4		5		14		2.06	%		19		19,531,038		18.13	%
HELOC		2,251		56,969			128,237,615		6		—		6		12		0.53	%		10		901,266		0.70	%
Consumer		17,224		6,036			103,960,506		236		130		98		464		2.69	%		620		2,896,789		2.79	%
		61,452				$	9,086,788,792		542		289		826		1,657		2.70	%		1,744		399,349,519		4.39	%
DECEMBER 31, 2009
Single-Family Residential		36,119		187,028			6,755,254,617		258		168		457		883		2.44	%		459		216,110,486		3.20	%
Construction - Speculative		666		325,515			216,792,895		31		5		98		134		20.12	%		174		50,660,703		23.37	%
Construction - Custom		723		368,655			266,537,499		1		2		4		7		0.97	%		8		1,485,911		0.56	%
Land - Acquisition & Development		610		785,825			479,353,260		17		6		115		138		22.62	%		115		126,159,710		26.32	%
Land - Consumer Lot Loans		1,902		100,638			191,413,028		19		16		37		72		3.79	%		42		10,376,733		5.42	%
Multi-Family		1,259		561,155			706,494,270		6		—		5		11		0.87	%		7		5,455,570		0.77	%
Commercial Real Estate		533		566,477			301,931,994		6		1		3		10		1.88	%		7		4,147,233		1.37	%
Commercial & Industrial		704		158,177			111,356,867		11		2		4		17		2.41	%		17		20,039,678		18.00	%
HELOC		2,231		57,497			128,276,840		6		1		1		8		0.36	%		5		781,585		0.61	%
Consumer		18,237		6,134			111,868,564		283		168		136		587		3.22	%		682		3,830,829		3.42	%
		62,984				$	9,269,279,834		638		369		860		1,867		2.96	%		1,516		439,048,438		4.74	%

Page 5 of 5