Fact Sheet as of September 30, 2010

EX-99.2 3 dex992.htm FACT SHEET AS OF SEPTEMBER 30, 2010 Fact Sheet as of September 30, 2010

Exhibit 99.2

Washington Federal, Inc.

Fact Sheet

September 30, 2010

($ in Thousands)


	3/10 QTR						6/10 QTR						9/10 QTR
Loan Loss Reserve-Total	$	194,553					$	173,427					$	163,094
- General		85,730						89,759						98,092
- Specific		108,823						83,668						65,002
Net Charge-offs (Recoveries) for the Qtr		59,419						41,862						36,332
Non-performing Assets - Total		538,928						473,121						434,530
- REO		148,813						149,305						160,754
- REHI		55,243						31,481						28,244
- Non-accrual		334,872						292,335						245,532
Troubled Debt Restructuring		244,821						262,683						272,922
Regulatory Capital Ratios (excludes holding co.)
- Tangible		1,504,519			11.17	%		1,518,120			11.36	%		1,534,681			11.67	%
- Core		1,504,519			11.17			1,518,120			11.36			1,534,681			11.67
- Risk Based		1,587,328			22.03			1,604,621			22.71			1,619,206			23.39

	3/10 QTR			3/10 YTD			6/10 QTR			6/10 YTD			9/10 QTR			9/10 YTD
Loan Originations - Total	$	325,842		$	724,909		$	383,415		$	1,108,324		$	369,209		$	1,477,533
Single-Family Residential		106,195			287,423			141,283			428,706			154,723			583,429
Construction - Speculative		30,802			52,326			46,651			98,977			33,351			132,328
Construction - Custom		57,349			129,874			70,226			200,100			75,957			276,057
Land- Acquisition & Development		4,087			20,482			6,501			26,983			4,196			31,179
Land - Consumer Lot Loans		2,132			5,491			3,275			8,766			2,568			11,334
Multi-Family		16,212			35,052			6,308			41,360			7,819			49,179
Commercial Real Estate		3,702			15,517			24,578			40,095			19,505			59,600
Commercial & Industrial		90,047			145,480			67,210			212,690			59,412			272,102
HELOC		14,543			31,924			16,357			48,281			10,803			59,084
Consumer		773			1,340			1,026			2,366			875			3,241

	3/10 QTR			3/10 YTD			6/10 QTR			6/10 YTD			9/10 QTR			9/10 YTD
Loan Servicing Fee Income	$	1,791		$	3,678		$	1,679		$	5,358		$	2,080		$	7,438
Other Fee Income		1,137			1,890			1,026			2,916			820			3,736

Total Fee Income	$	2,929		$	5,569		$	2,706		$	8,274		$	2,900		$	11,174


	3/10 QTR			3/10 YTD			6/10 QTR			6/10 YTD			9/10 QTR			9/10 YTD
Average Loans	$	8,855,140		$	8,952,896		$	8,656,871		$	8,854,221		$	8,604,249		$	8,791,214
Average Earning Assets		12,545,759			12,276,183			12,641,835			12,398,067			12,636,641			12,458,201
Average Assets		13,446,964			13,101,725			13,765,244			13,297,034			13,649,632			13,373,767
Average Paying Liabilities		11,690,254			11,257,747			11,834,265			11,449,920			11,722,052			11,518,512
Operating Expenses/Average Assets		1.19	%		1.02	%		0.97	%		1.00	%		0.93	%		0.98	%
Efficiency Ratio		21.25			23.11			31.85			25.43			29.73			26.26
Amortization of Intangibles	$	580		$	1,308		$	431		$	1,739		$	401		$	2,140
Net Interest Margin		3.09	%		3.17	%		3.14	%		3.16	%		3.18	%		3.17	%

Repayments	3/10 QTR			3/10 YTD			6/10 QTR			6/10 YTD			9/10 QTR			9/10 YTD
Loans	$	464,191		$	917,613		$	523,829		$	1,441,489		$	523,083		$	1,964,572
MBS		204,362			392,521			190,356			582,877			156,766			739,643

EOP Numbers	3/10 QTR						6/10 QTR						9/10 QTR
Shares Issued and Outstanding		112,455,059						112,474,412						112,483,632

Share repurchase information	3/10 QTR			3/10 YTD			6/10 QTR			6/10 YTD			9/10 QTR			9/10 YTD
Remaining shares auth. for repurchase		2,888,314			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

September 30, 2010

($ in Thousands)


Tangible Common Book Value	3/10 QTR						6/10 QTR						9/10 QTR
$ Amount	$	1,558,088					$	1,577,627					$	1,583,429
Per Share		13.86						14.03						14.08

# of Employees		1,275						1,235						1,223
Tax Rate - Going Forward		36.00	%					36.00	%					36.00	%

Investments	3/10 QTR						6/10 QTR						9/10 QTR
Available-for-sale:
Agency MBS	$	1,912,336					$	1,822,950					$	2,130,087
Other		364,727						432,837						351,006

	$	2,277,063					$	2,255,787					$	2,481,093

Held-to-maturity:
Agency MBS	$	84,903					$	78,165					$	73,052
Other		7,055						7,055						7,055

	$	91,958					$	85,220					$	80,107


	AS OF 3/31/10						AS OF 6/30/10						AS OF 9/30/10
Gross Loan Portfolio by Category *	AMOUNT			%			AMOUNT			%			AMOUNT			%
Single-Family Residential	$	6,684,914			73.5	%	$	6,632,333			74.1	%	$	6,551,836			74.8	%
Construction - Speculative		196,738			2.2			180,523			2.0			169,712			1.9
Construction - Custom		268,407			3.0			275,509			3.1			256,384			2.9
Land - Acquisition & Development		408,029			4.5			343,567			3.8			307,230			3.5
Land - Consumer Lot Loans		188,475			2.1			187,548			2.1			186,840			2.1
Multi-Family		713,310			7.8			707,784			7.9			697,351			7.9
Commercial Real Estate		287,018			3.2			312,186			3.5			315,915			3.6
Commercial & Industrial		107,700			1.2			96,227			1.1			82,640			0.9
HELOC		128,238			1.4			119,540			1.3			116,143			1.3
Consumer		103,960			1.1			101,219			1.1			92,624			1.1

		9,086,789			100	%		8,956,436			100	%		8,776,675			100	%

Less:
ALL		194,553						173,427						163,094
Loans in Process		167,913						169,423						158,078
Deferred Net Origination Fees		35,838						35,795						35,707

		398,304						378,645						356,879

	$	8,688,485					$	8,577,791					$	8,419,796


	AS OF 3/31/10						AS OF 6/30/10						AS OF 9/30/10
Net Loan Portfolio by Category *	AMOUNT			%			AMOUNT			%			AMOUNT			%
Single-Family Residential	$	6,618,133			76.2	%	$	6,558,586			76.5	%	$	6,476,330			76.9	%
Construction - Speculative		131,949			1.5			111,745			1.3			121,991			1.4
Construction - Custom		163,272			1.9			169,858			2.0			136,796			1.6
Land - Acquisition & Development		293,568			3.4			250,599			2.9			232,168			2.8
Land - Consumer Lot Loans		181,187			2.1			183,661			2.1			181,147			2.2
Multi-Family		705,996			8.1			700,314			8.2			689,378			8.2
Commercial Real Estate		273,455			3.1			299,969			3.5			305,834			3.6
Commercial & Industrial		96,376			1.1			89,625			1.0			76,215			0.9
HELOC		127,081			1.5			118,400			1.4			115,084			1.4
Consumer		97,468			1.1			94,996			1.1			84,853			1.0

	$	8,688,485			100	%	$	8,577,753			100	%	$	8,419,796			100	%

*	Excludes covered loans

Page 2 of 5

Washington Federal, Inc.

Fact Sheet

September 30, 2010

($ in Thousands)


	AS OF 3/31/10								AS OF 6/30/10								AS OF 9/30/10
Deposits by State	AMOUNT			%			#		AMOUNT			%			#		AMOUNT			%			#
WA	$	4,416,186			49.2	%		64	$	4,341,225			48.9	%		64	$	4,320,280			48.9	%		64
ID		612,930			6.8			16		618,337			7.0			16		614,002			6.9			16
OR		1,400,498			15.6			28		1,390,110			15.6			28		1,391,330			15.7			28
UT		345,641			3.9			10		350,591			3.9			10		353,035			4.0			10
NV		195,062			2.2			4		198,158			2.2			4		207,704			2.3			4
TX		133,775			1.5			6		130,575			1.5			6		130,199			1.5			6
AZ		1,371,579			15.3			21		1,364,811			15.4			21		1,347,178			15.2			21
NM		490,981			5.5			11		492,940			5.5			11		488,812			5.5			11

Total	$	8,966,652			100	%		160	$	8,886,747			100	%		160	$	8,852,540			100	%		160


	3/10 QTR								6/10 QTR								9/10 QTR
Deposits by Type	AMOUNT			%					AMOUNT			%					AMOUNT			%
Checking (noninterest)	$	167,050			1.9	%			$	178,800			2.0	%			$	184,240			2.1	%
NOW (interest)		513,969			5.7					494,844			5.6					482,131			5.4
Savings (passbook/stmt)		222,213			2.5					230,256			2.6					234,673			2.7
Money Market		1,483,569			16.5					1,610,080			18.1					1,653,718			18.7
CD’s		6,579,851			73.4					6,372,767			71.7					6,297,778			71.1

Total	$	8,966,652			100	%			$	8,886,747			100	%			$	8,852,540			100	%


Deposits greater than $250,000 - EOP	$	3,464,827			(1	)			$	873,707							$	893,338

(1) This amount is for deposits > $100,000 - EOP

Brokered Deposits	$	—							$	—							$	—

Non-Performing Assets	3/10 QTR								6/10 QTR								9/10 QTR
Restructured loans:
Single-Family Residential	$	191,807			78.4	%			$	205,684			78.2	%			$	207,040			75.9	%
Construction - Speculative		11,772			4.8					9,685			3.7					9,893			3.6
Construction - Custom		—			0.0					—			0.0					—			0.0
Land - Acquisition & Development		33,625			13.7					34,404			13.1					33,497			12.3
Land - Consumer Lot Loans		6,160			2.5					6,975			2.7					7,095			2.6
Multi-Family		1,379			0.6					4,898			1.9					12,862			4.7
Commercial Real Estate		—			0.0					—			0.0					1,503			0.6
Commercial & Industrial		—			0.0					959			0.4					954			0.3
HELOC		78			0.0					78			0.0					78			0.0
Consumer		—			0.0					—			0.0					—			0.0

Total restructured loans (2)		244,821			100	%				262,683			100	%				272,922			100	%

Non-accrual loans:
Single-Family Residential		132,957								136,867								123,624
Construction - Speculative		62,169								51,186								39,915
Construction - Custom		—								—								—
Land - Acquisition & Development		113,136								74,183								64,883
Land - Consumer Lot Loans		—								—								—
Multi-Family		3,703								3,167								4,931
Commercial Real Estate		2,309								6,036								10,831
Commercial & Industrial		19,683								20,258								371
HELOC		—								—								—
Consumer		915								638								977

Total non-accrual loans		334,872								292,335								245,532
Total REO		148,813								149,305								160,754
Total REHI		55,243								31,481								28,244

Total non-performing assets	$	538,928							$	473,121							$	434,530

Total non-performing assets and performing restructured loans	$	763,058							$	698,091							$	659,725

Total non-performing assets and performing restructured loans as a % of total assets		5.53	%							5.09	%							4.89	%

(2) Restructured loans were as follows:
Performing	$	224,130			91.5	%			$	224,970			85.6	%			$	225,195			82.5	%
Non-accrual *		20,691			8.5					37,713			14.4					47,727			17.5

* - Included in “Total non-accrual loans” above	$	244,821			100	%			$	262,683			100	%			$	272,922			100	%

Page 3 of 5

Washington Federal, Inc.

Fact Sheet

September 30, 2010

($ in Thousands)


Net Charge-offs by Category	3/10 QTR		6/10 QTR		9/10 QTR
Single-Family Residential	$	9,995	$	6,102	$	9,277
Construction - Speculative		6,613		3,987		9,392
Construction - Custom		—		—		263
Land - Acquisition & Development		39,479		24,278		11,826
Land - Consumer Lot Loans		497		453		1,251
Multi-Family		225		422		1,363
Commercial Real Estate		127		97		425
Commercial & Industrial		868		5,592		1,173
HELOC		—		—		49
Consumer		1,615		931		1,313

Total net charge-offs	$	59,419	$	41,862	$	36,332


SOP 03-3	3/31/2010		6/30/2010		9/30/2010
Accretable Yield	$	33,345	$	30,107	$	27,019
Non-Accretable Yield		214,920		214,920		214,920

Total Contractual Payments	$	248,265	$	245,027	$	241,939

Page 4 of 5

Washington Federal, Inc.

Fact Sheet

September 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 $
SEPTEMBER 30, 2010
Single-Family Residential		35,080		186,641	$	6,547,381,780		221		150		472		843		2.40	%		798	$	203,819,135		3.11	%
Construction - Speculative		624		228,206		142,400,435		6		3		72		81		12.98	%		146		26,346,159		18.50	%
Construction - Custom		734		203,505		149,372,428		2		—		—		2		0.27	%		8		282,768		0.19	%
Land - Acquisition & Development		371		779,977		289,371,375		8		4		51		63		16.98	%		147		42,785,129		14.79	%
Land - Consumer Lot Loans		1,870		99,915		186,840,189		17		8		48		73		3.90	%		55		9,798,827		5.24	%
Multi-Family		1,231		566,459		697,311,003		5		—		9		14		1.14	%		11		8,714,277		1.25	%
Commercial Real Estate		641		496,755		318,419,665		6		1		12		19		2.96	%		12		8,102,637		2.54	%
Commercial & Industrial		634		130,347		82,640,206		3		2		3		8		1.26	%		11		221,999		0.27	%
HELOC		1,989		58,393		116,142,722		4		4		10		18		0.90	%		8		1,568,879		1.35	%
Consumer		15,444		5,997		92,624,490		247		136		111		494		3.20	%		631		3,025,494		3.27	%

		58,618			$	8,622,504,292		519		308		788		1,615		2.76	%		1,827	$	304,665,304		3.53	%

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	%

Page 5 of 5