Washington Federal, Inc.
Fact Sheet
March 31, 2020
($ in Thousands)
Exhibit 99.2
As of 09/19As of 12/19As of 03/20
Loan Loss Reserve - Total$138,434  $140,013  $148,001  
     General and Specific Allowance131,534  132,513  139,501  
     Commitments Reserve6,900  7,500  8,500  
     Allowance and Reserve as a % of Gross Loans1.04 %1.04 %1.10 %
09/19 QTR09/19 YTD12/19 QTR12/19 YTD03/20 QTR03/20 YTD
Loan Originations - Total$1,074,715  $4,120,471  $1,371,315  $1,371,315  $1,236,664  $2,607,979  
     Single-Family Residential153,535  547,057  167,144  167,144  149,076  316,220  
     Construction342,212  1,271,167  432,444  432,444  338,748  771,192  
     Construction - Custom138,848  457,328  123,986  123,986  117,313  241,299  
     Land - Acquisition & Development27,383  123,758  40,692  40,692  12,796  53,488  
     Land - Consumer Lot Loans14,285  37,125  11,015  11,015  10,771  21,786  
     Multi-Family63,379  210,589  86,729  86,729  127,289  214,018  
     Commercial Real Estate69,139  343,172  73,027  73,027  106,906  179,933  
     Commercial & Industrial241,257  1,020,296  413,615  413,615  347,969  761,584  
     HELOC23,823  101,399  22,111  22,111  24,864  46,975  
     Consumer854  8,580  552  552  932  1,484  
Purchased Loans (including acquisitions)$—  $—  $—  $—  $—  $—  
Net Loan Fee and Discount Accretion$4,190  $14,057  $4,925  $4,925  $4,918  $9,843  
Repayments
Loans$1,064,259  $3,638,622  $1,301,419  $1,301,419  $1,203,182  $2,504,601  
MBS113,715  323,689  142,509  142,509  120,852  263,361  
MBS Premium Amortization$2,277  $6,684  $2,535  $2,535  $2,292  $4,827  
Efficiency
Operating Expenses/Average Assets1.75 %1.73 %2.02 %2.02 %1.94 %1.98 %
Efficiency Ratio (%) (a)53.08 %52.09 %57.05 %57.05 %59.34 %58.19 %
Amortization of Intangibles$510  $2,040  $495  $495  $552  $1,047  
(a) Efficiency ratio for the three months ended December 31, 2019 and six months ended March 31, 2020 excludes the impact of $31.6 million gain on sales of fixed assets and $5.9 million impairment charge on computer hardware and software.
EOP Numbers
Shares Issued and Outstanding78,841,463  78,107,870  75,706,100  
Share repurchase information
Remaining shares authorized for repurchase7,966,761  7,052,600  4,628,987  
Shares repurchased570,480  4,065,837  914,161  914,161  2,423,613  3,337,774  
Average share repurchase price$34.92  $30.46  $36.62  $36.62  $32.43  $33.58  



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Washington Federal, Inc.
Fact Sheet
March 31, 2020
($ in Thousands)

Tangible Common Book ValueAs of 09/19As of 12/19As of 03/20
$ Amount$1,723,748  $1,740,432  $1,674,990  
Per Share21.86  22.28  22.12  
# of Employees1,971  2,001  2,060  
Investments
Available-for-sale:
     Agency MBS$982,560  $928,934  $1,073,165  
     Other503,182  566,652  619,882  
$1,485,742  $1,495,586  $1,693,047  
Held-to-maturity:
     Agency MBS$1,443,480  $1,360,693  $920,255  
$1,443,480  $1,360,693  $920,255  
As of 09/19As of 12/19As of 03/20
Loans Receivable by Category AMOUNT % AMOUNT % AMOUNT %
     Single-Family Residential$5,835,194  43.8%$5,702,071  42.5%$5,582,244  41.5%
     Construction2,038,052  15.32,174,313  16.22,204,283  16.4
     Construction - Custom540,741  4.1538,234  4.0547,731  4.1
     Land - Acquisition & Development204,107  1.5203,043  1.5197,010  1.5
     Land - Consumer Lot Loans99,694  0.797,097  0.796,579  0.7
     Multi-Family1,422,674  10.71,436,715  10.71,467,231  10.9
     Commercial Real Estate1,631,170  12.31,643,099  12.31,717,535  12.8
     Commercial & Industrial1,268,695  9.51,352,738  10.11,371,128  10.2
     HELOC142,178  1.1141,274  1.1145,761  1.1
     Consumer129,883  1.0115,829  0.9105,147  0.8
13,312,388  100%13,404,413  100%13,434,649  100%
     Less:
        Allowance for Loan Losses (ALL)131,534  132,513  139,501  
        Loans in Process1,201,341  1,312,282  1,289,812  
        Net Deferred Fees, Costs and Discounts48,938  54,757  31,095  
        Sub-Total1,381,813  1,499,552  1,460,408  
$11,930,575  $11,904,861  $11,974,241  
Net Loan Portfolio by Category AMOUNT % AMOUNT % AMOUNT %
     Single-Family Residential$5,782,749  48.5%$5,648,066  47.4%$5,540,043  46.3%
     Construction1,125,093  9.41,148,283  9.61,196,345  10.0
     Construction - Custom252,148  2.1256,346  2.2268,033  2.2
     Land - Acquisition & Development151,289  1.3144,368  1.2143,435  1.2
     Land - Consumer Lot Loans97,184  0.894,610  0.894,250  0.8
     Multi-Family1,410,030  11.81,423,419  12.01,455,245  12.1
     Commercial Real Estate1,612,005  13.51,623,352  13.61,698,540  14.2
     Commercial & Industrial1,232,581  10.31,313,672  11.01,331,519  11.1
     HELOC140,552  1.2139,592  1.2144,141  1.2
     Consumer126,944  1.1113,153  1.0102,690  0.9
$11,930,575  100%$11,904,861  100%$11,974,241  100%

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Washington Federal, Inc.
Fact Sheet
March 31, 2020
($ in Thousands)

As of 09/19As of 12/19As of 03/20
Deposits by State AMOUNT%# AMOUNT%# AMOUNT%#
     Washington$5,502,418  45.9 %80  $5,438,457  45.6 %80  $5,418,762  44.8 %80  
     Idaho867,250  7.2  24  862,667  7.2  24  873,164  7.2  24  
     Oregon2,337,401  19.5  46  2,356,456  19.7  46  2,436,763  20.2  46  
     Utah345,208  2.9  10  350,825  2.9  10  318,227  2.6  10  
     Nevada384,491  3.2  11  390,282  3.3  11  399,659  3.3  11  
     Texas178,152  1.5  6  165,717  1.4  6  174,066  1.5  6  
     Arizona1,352,365  11.3  31  1,331,320  11.2  31  1,401,451  11.6  31  
     New Mexico1,023,479  8.5  26  1,036,414  8.7  26  1,066,328  8.8  26  
     Total$11,990,764  100%234  $11,932,138  100%234  $12,088,420  100%234  
Deposits by Type AMOUNT% AMOUNT% AMOUNT%
Non-Interest Checking$1,621,343  13.5 %$1,593,392  13.4 %$1,664,707  13.8 %
Interest Checking1,984,576  16.6  2,125,878  17.8  2,210,387  18.3  
Savings753,574  6.3  748,505  6.3  759,604  6.3  
Money Market2,724,308  22.7  2,847,346  23.8  3,029,341  25.0  
Time Deposits4,906,963  40.9  4,617,017  38.7  4,424,381  36.6  
Total$11,990,764  100%$11,932,138  100%$12,088,420  100%
Deposits greater than $250,000 - EOP$3,609,961  $3,746,958  $3,953,908  
Time Deposit RepricingAmountRateAmountRateAmountRate
Within 3 months$1,125,888  1.81 %$930,883  1.88 %$925,549  1.79 %
From 4 to 6 months943,094  1.88 %936,979  1.79 %927,835  1.79 %
From 7 to 9 months739,826  2.00 %715,509  2.00 %875,111  1.61 %
From 10 to 12 months663,487  2.04 %794,676  1.68 %809,660  1.61 %
Non-Performing Assets AMOUNT % AMOUNT % AMOUNT %
Non-accrual loans:
     Single-Family Residential$25,271  74.9%$23,014  76.5%$22,859  70.1%
     Construction—  ——  —3,353  10.3
     Construction - Custom—  ——  ——  —
     Land - Acquisition & Development169  0.586  0.382  0.3
     Land - Consumer Lot Loans246  0.7334  1.1408  1.2
     Multi-Family—  ——  ——  —
     Commercial Real Estate5,835  17.35,557  18.54,374  13.4
     Commercial & Industrial1,292  3.8467  1.5470  1.4
     HELOC907  2.7630  2.11,064  3.3
     Consumer11  —1  ——  —
        Total non-accrual loans33,731  100%30,089  100%32,610  100%
Real Estate Owned6,781  6,339  5,463  
Other Property Owned3,314  3,314  3,314  
Total non-performing assets$43,826  $39,742  $41,387  
Non-accrual loans as % of total net loans0.28 %0.25 %0.27 %
Non-performing assets as % of total assets0.27 %0.24 %0.24 %

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Washington Federal, Inc.
Fact Sheet
March 31, 2020
($ in Thousands)

As of 09/19As of 12/19As of 03/20
 AMOUNT% AMOUNT% AMOUNT%
Restructured loans:
     Single-Family Residential  $111,886  92.0%$102,164  92.2%$97,025  93.2%
     Construction—  ——  ——  —
     Construction - Custom—  ——  ——  —
     Land - Acquisition & Development90  0.186  0.182  0.1
     Land - Consumer Lot Loans3,714  3.13,556  3.23,418  3.3
     Multi-Family385  0.3380  0.3316  0.3
     Commercial Real Estate4,168  3.43,238  2.91,883  1.8
     Commercial & Industrial425  0.3411  0.4396  0.4
     HELOC949  0.8942  0.8843  0.8
     Consumer60  —58  0.156  0.1
        Total restructured loans$121,677  100%$110,835  100%$104,019  100%
Restructured loans were as follows:
     Performing$116,659  95.9%$106,380  96.0%$101,076  97.2%
     Non-performing (b)5,018  4.14,455  4.02,943  2.8
     Total restructured loans $121,677  100%$110,835  100%$104,019  100%
     (b) Included in "Total non-accrual loans" above.
AMOUNTCO % (c)AMOUNTCO % (c)AMOUNTCO % (c)
Net Charge-offs (Recoveries) by Category
     Single-Family Residential$(405) (0.03)%$(246) (0.02)%$(192) (0.01)%
     Construction(100) (0.02)(54) (0.01)(5) —
     Construction - Custom1,634  1.21—  ——  —
     Land - Acquisition & Development(2,308) (4.52)(1,449) (2.85)(126) (0.26)
     Land - Consumer Lot Loans14  0.0660  0.25(399) (1.65)
     Multi-Family—  —(498) (0.14)—  —
     Commercial Real Estate(152) (0.04)(270) (0.07)(1,007) (0.23)
     Commercial & Industrial1,117  0.35(94) (0.03)72  0.02
     HELOC(1) —(93) (0.26)(1) —
     Consumer139  0.4365  0.22(130) (0.49)
        Total net charge-offs (recoveries)$(62) —%$(2,579) (0.08)%$(1,788) (0.05)%
(c) Annualized Net Charge-offs (recoveries) divided by Gross Balance.
Interest Rate Risk
NPV post 200 bps shock (d)13.9 %13.9 %12.1 %
Change in NII after 200 bps shock (d)1.3 %0.7 %1.9 %
(d) Assumes no balance sheet management actions taken.

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Washington Federal, Inc.
Fact Sheet
March 31, 2020
($ in Thousands)

Historical CPR Rates (e)
WAFDWAFD
Average for Quarter Ended:SFR MortgagesGSE MBS
3/31/201812.1 %13.3 %
6/30/201813.0 %12.0 %
9/30/201812.3 %12.0 %
12/31/201810.4 %10.3 %
3/31/20199.3 %9.4 %
6/30/201913.8 %11.4 %
9/30/201918.2 %16.9 %
12/31/201922.0 %21.7 %
3/31/202019.8 %19.7 %
(e) The CPR Rate (conditional payment rate) is the rate that is equal to the proportion of the principal of a pool of loans that is paid off prematurely in each period.

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Washington Federal, Inc.
Fact Sheet
March 31, 2020
Average Balance Sheet
($ in Thousands)

Quarter Ended
September 30, 2019December 31, 2019March 31, 2020
AverageAverageAverageAverageAverageAverage
BalanceInterestRateBalanceInterestRateBalanceInterestRate
Assets
Loans receivable$11,966,994  $144,480  4.79 %$11,942,498  $142,146  4.72 %$11,905,574  $138,549  4.67 %
Mortgage-backed securities2,489,843  17,231  2.75  2,360,374  15,612  2.62  2,194,479  14,341  2.62  
Cash & investments794,183  6,060  3.03  776,633  5,425  2.77  951,719  5,281  2.23  
FHLB & FRB Stock132,390  1,665  4.99  124,568  1,641  5.23  122,320  1,447  4.74  
Total interest-earning assets15,383,410  169,436  4.37 %15,204,073  164,824  4.30 %15,174,092  159,618  4.22 %
Other assets1,177,871  1,189,996  1,204,060  
Total assets$16,561,281  $16,394,069  $16,378,152  
Liabilities and Equity
Customer accounts$11,887,819  33,640  1.12 %$11,888,167  31,481  1.05 %$11,919,451  28,638  0.96 %
FHLB advances2,460,000  15,624  2.52  2,264,457  13,658  2.39  2,208,242  13,368  2.43  
Other borrowings—  —  —  —  —  —  77  —  —  
Total interest-bearing liabilities14,347,819  49,264  1.36 %14,152,624  45,139  1.27 %14,127,770  42,006  1.19 %
Other liabilities183,055  202,675  207,358  
Total liabilities14,530,874  14,355,299  14,335,128  
Stockholders’ equity2,030,407  2,038,770  2,043,024  
Total liabilities and equity$16,561,281  $16,394,069  $16,378,152  
Net interest income$120,172  $119,685  $117,612  
Net interest margin (1)3.12 %3.15 %3.10 %
(1) Annualized net interest income divided by average interest-earning assets

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Washington Federal, Inc.
Fact Sheet
March 31, 2020
Delinquency Summary
($ in Thousands)

TYPE OF LOANS AMOUNT OF LOANS# OF LOANS% based% based
 #LOANSAVG SizeNET OF LIP & CHG-OFFs306090Totalon #$ Delinquenton $
March 31, 2020
     Single-Family Residential23,219  240  $5,582,243  41  21  74  136  0.59 %$26,192  0.47 %
     Construction529  2,336  1,235,731  —  —  2  2  0.38  3,353  0.27  
     Construction - Custom993  273  270,880  —  —  —  —  —  —  —  
     Land - Acquisition & Development115  1,327  152,623  1  —  —  1  0.87  394  0.26  
     Land - Consumer Lot Loans1,109  87  96,580  2  2  6  10  0.90  784  0.81  
     Multi-Family1,103  1,330  1,467,208  1  —  —  1  0.09  356  0.02  
     Commercial Real Estate989  1,737  1,717,535  2  3  7  12  1.21  4,642  0.27  
     Commercial & Industrial1,837  746  1,371,128  16  —  11  27  1.47  2,288  0.17  
     HELOC3,086  47  145,761  4  2  10  16  0.52  1,052  0.72  
     Consumer3,134  34  105,148  42  29  10  81  2.58  584  0.56  
36,114  336  $12,144,837  109  57  120  286  0.79 %$39,645  0.33 %
December 31, 2019
     Single-Family Residential23,645  241  $5,702,058  45  15  77  137  0.58 %$26,386  0.46 %
     Construction507  2,346  1,189,457  —  1  —  1  0.20  1,415  0.12  
     Construction - Custom1,018  255  259,944  —  —  —  —  —  —  —  
     Land - Acquisition & Development132  1,166  153,942  2  1  —  3  2.27  886  0.58  
     Land - Consumer Lot Loans1,135  86  97,097  4  1  8  13  1.15  462  0.48  
     Multi-Family1,106  1,299  1,436,693  1  —  —  1  0.09  137  0.01  
     Commercial Real Estate996  1,650  1,643,099  1  1  7  9  0.90  4,692  0.29  
     Commercial & Industrial1,793  754  1,352,738  16  2  7  25  1.39  289  0.02  
     HELOC3,049  46  141,274  10  2  9  21  0.69  1,382  0.98  
     Consumer3,336  35  115,829  33  14  12  59  1.77  581  0.50  
36,717  329  $12,092,131  112  37  120  269  0.73 %$36,230  0.30 %
September 30, 2019
     Single-Family Residential24,196  241  $5,835,186  34  16  84  134  0.55 %$25,947  0.44 %
     Construction524  2,223  1,164,889  —  —  —  —  —  —  —  
     Construction - Custom1,044  245  255,505  —  —  —  —  —  —  —  
     Land - Acquisition & Development137  1,177  161,194  —  —  —  —  —  —  —  
     Land - Consumer Lot Loans1,141  87  99,694  4  2  5  11  0.96  778  0.78  
     Multi-Family1,125  1,265  1,422,652  —  —  —  —  —  —  —  
     Commercial Real Estate994  1,641  1,631,171  1  1  7  9  0.91  5,662  0.35  
     Commercial & Industrial1,829  694  1,268,695  —  —  12  12  0.66  867  0.07  
     HELOC3,041  47  142,178  10  1  13  24  0.79  1,460  1.03  
     Consumer3,520  37  129,883  41  12  12  65  1.85  656  0.51  
37,551  323  $12,111,047  90  32  133  255  0.68 %$35,370  0.29 %

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