Document


	As of 03/24						As of 06/24						As of 09/24
Allowance for Credit Losses (ACL) - Total	$	225,077					$	225,324					$	225,253
ACL - Loans	201,577						203,824						203,753
ACL Unfunded Commitments	23,500						21,500						21,500
Total ACL as a % of Gross Loans	1.00		%				1.00		%				1.01		%

	03/24 QTR			03/24 YTD			06/24 QTR			06/24 YTD			09/24 QTR			09/24 YTD
Loan Originations - Total	$	825,733		$	1,697,179		$	972,500		$	2,669,679		$	962,393		$	3,632,072
Multi-Family	39,802			50,210			8,523			58,733			1,997			60,730
Commercial Real Estate	81,634			145,250			57,956			203,206			43,724			246,930
Commercial & Industrial	370,476			789,522			456,351			1,245,873			431,498			1,677,371
Construction	136,038			287,015			124,978			411,993			191,837			603,829
Land - Acquisition & Development	11,475			24,032			6,099			30,131			15,275			45,406
Single-Family Residential	67,506			151,020			141,018			292,038			138,234			430,272
Construction - Custom	50,940			97,242			58,490			155,732			54,049			209,781
Land - Consumer Lot Loans	3,914			7,763			6,478			14,241			6,946			21,187
HELOC	31,859			72,855			46,246			119,101			42,816			161,917
Consumer	32,089			72,270			66,361			138,631			36,017			174,648

Purchased Loans (including acquisitions)	$	6,207,393		$	6,207,393		$	—		$	6,207,393		$	—		$	6,207,393

Net Loan Fee and Discount Accretion	$	7,127		$	11,740		$	14,807		$	26,547		$	10,942		$	37,489

Repayments
Loans	$	983,348		$	2,136,858		$	1,035,515		$	3,172,373		$	1,129,986		$	4,302,359
MBS	35,927			72,364			58,582			130,946			64,885			195,831

MBS Net Premium Amortization	$	160		$	96		$	561		$	657		$	403		$	1,060

Efficiency
Operating Expenses/Average Assets	2.15		%	1.95		%	1.48		%	1.77		%	1.54		%	1.71		%
Efficiency Ratio (%)	77.74		%	68.04		%	56.61		%	63.87		%	57.21		%	62.13		%
Amortization of Intangibles	$	1,303		$	1,569		$	3,197		$	4,766		$	2,977		$	7,743

EOP Numbers
Shares Issued and Outstanding	81,405,391						81,157,173						81,220,269

Share repurchase information
Remaining shares authorized for repurchase	1,853,453						11,501,005						11,501,005
Shares repurchased	7,837			705,730			357,303			1,063,033			7,174			1,070,207
Average share repurchase price	$	30.38		$	24.52		$	26.63		$	25.23		$	34.82		$	25.29


Tangible Common Book Value	As of 03/24			As of 06/24			As of 09/24
$ Amount	$	2,168,367		$	2,206,084		$	2,251,875
Per Share	26.64			27.18			27.73

# of Employees	2,335			2,204			2,208

Investments
Available-For-Sale:
Agency MBS	$	1,291,648		$	1,351,997		$	1,387,025
Other	1,146,466			1,076,771			1,185,684
	$	2,438,114		$	2,428,768		$	2,572,709
Held-To-Maturity:
Agency MBS	$	457,882		$	447,638		$	436,972
	$	457,882		$	447,638		$	436,972

	As of 03/24			As of 06/24			As of 09/24
Loans Receivable by Category1	AMOUNT		%	AMOUNT		%	AMOUNT		%
Multi-Family	$	4,173,375	18.5%	$	4,616,359	20.5%	$	4,658,119	20.8%
Commercial Real Estate	3,570,790		15.8	3,781,247		16.8	3,757,040		16.8
Commercial & Industrial	2,290,452		10.1	2,394,978		10.6	2,337,139		10.4
Construction	2,631,783		11.6	2,247,530		10.0	2,174,254		9.7
Land - Acquisition & Development	215,831		1.0	195,796		0.9	200,713		0.9
Single-Family Residential	8,816,039		39.0	8,364,415		37.2	8,399,030		37.6
Construction - Custom	466,740		2.1	414,483		1.8	384,161		1.7
Land - Consumer Lot Loans	115,022		0.6	112,317		0.5	108,791		0.6
HELOC	243,852		1.1	255,271		1.1	266,151		1.2
Consumer	74,269		0.3	84,445		0.4	73,998		0.3
	22,598,153		100%	22,466,841		100%	22,359,396		100%
Less:
Allowance	201,577			203,824			203,753
Loans in Process	1,303,978			1,094,956			1,009,798
Net Deferred Fees, Costs and Discounts	297,339			294,142			229,491
Sub-Total	1,802,894			1,592,922			1,443,042
	$	20,795,259		$	20,873,919		$	20,916,354

Net Loan Portfolio by Category1	AMOUNT		%	AMOUNT		%	AMOUNT		%
Multi-Family	$	4,067,739	19.6%	$	4,488,124	21.5%	$	4,530,951	21.7%
Commercial Real Estate	3,511,893		16.9	3,707,189		17.8	3,692,946		17.6
Commercial & Industrial	2,224,662		10.7	2,331,403		11.2	2,273,984		10.9
Construction	1,596,178		7.7	1,417,444		6.8	1,401,748		6.7
Land - Acquisition & Development	167,839		0.8	148,724		0.7	152,416		0.7
Single-Family Residential	8,578,862		41.3	8,146,045		39.0	8,239,778		39.4
Construction - Custom	221,460		1.1	188,940		0.9	180,988		0.9
Land - Consumer Lot Loans	111,043		0.5	108,927		0.4	105,496		0.5
HELOC	244,331		1.2	255,908		1.2	266,808		1.3
Consumer	71,252		0.3	81,215		0.4	71,239		0.3
	$	20,795,259	100%	$	20,873,919	100%	$	20,916,354	100%
1These loan disclosures are specific to those loans held for investment and exclude loans held for sale.


	As of 03/24					As of 06/24					As of 09/24
Loans by State1	AMOUNT			%		AMOUNT			%		AMOUNT			%
Washington	$	5,770,917		27.5	%	$	5,771,422		27.4	%	$	5,771,729		27.3	%
Idaho	896,501			4.3		917,733			4.4		924,573			4.4
Oregon	2,441,076			11.7		2,486,762			11.8		2,463,530			11.7
Utah	2,013,988			9.6		2,084,601			9.9		2,085,051			9.9
Nevada	781,351			3.7		776,656			3.6		783,600			3.7
Texas	2,466,030			11.7		2,526,689			12.0		2,495,541			11.8
Arizona	2,386,260			11.4		2,314,192			11.0		2,319,106			11.0
New Mexico	750,750			3.6		750,935			3.6		761,853			3.6
California	3,121,531			14.9		3,027,699			14.4		3,037,606			14.4
Other	368,432			1.8		421,054			2.0		477,518			2.2
Total	$	20,996,836		100%		$	21,077,743		100%		$	21,120,107		100%

Non-Performing Assets	AMOUNT			%		AMOUNT			%		AMOUNT			%
Non-accrual loans:1
Multi-Family	$	8,377		13.8%		$	9,984		16.3%		$	18,743		27.0%
Commercial Real Estate	27,022			44.4		26,408			43.1		26,362			37.9
Commercial & Industrial	4,436			7.3		2,138			3.5		—			—
Construction	—			—		1,120			1.8		1,120			1.6
Land - Acquisition & Development	112			0.2		74			0.1		74			0.1
Single-Family Residential	20,016			32.9		20,422			33.2		21,488			30.9
Construction - Custom	88			—		88			0.1		848			—
Land - Consumer Lot Loans	—			—		236			0.4		—			—
HELOC	491			0.8		758			1.2		596			0.9
Consumer	264			0.3		40			0.1		310			0.4
Total non-accrual loans	60,806			100%		61,268			100%		69,541			100%
Real Estate Owned	4,245					4,209					4,567
Other Property Owned	3,310					3,310					3,310
Total non-performing assets	$	68,361				$	68,787				$	77,418

Non-accrual loans as % of total net loans	0.29		%			0.29		%			0.33		%
Non-performing assets as % of total assets	0.23		%			0.24		%			0.28		%

Net Charge-offs (Recoveries) by Category	03/24 QTR			CO % (a)		06/24 QTR			CO % (a)		09/24 QTR			CO % (a)
Multi-Family	$	—		—%		$	—		—%		$	—		—%
Commercial Real Estate	—			—		201			0.02		—			—
Commercial & Industrial	33			0.01		1,343			0.22		136			0.02
Construction	—			—		—			—		—			—
Land - Acquisition & Development	(21)			(0.04)		(17)			(0.03)		114			0.23
Single-Family Residential	76			—		(105)			(0.01)		(88)			—
Construction - Custom	—			—		—			—		(1)			—
Land - Consumer Lot Loans	(46)			(0.16)		(2)			(0.01)		(1)			—
HELOC	(1)			—		(1)			—		(1)			—
Consumer	105			0.57		(166)			(0.79)		(89)			(0.48)
Total net charge-offs (recoveries)	$	146		—%		$	1,253		0.02%		$	70		—%
(a) Annualized Net Charge-offs (recoveries) divided by Gross Balance
1These loan disclosures are specific to those loans held for investment and exclude loans held for sale.



	As of 03/24					As of 06/24					As of 09/24
Deposits & Branches by State	AMOUNT		%		#	AMOUNT		%		#	AMOUNT		%		#
Washington	$	8,254,930	38.7	%	73	$	8,302,664	39.2	%	73	$	8,528,608	39.9	%	73
Idaho	918,143		4.3		22	922,547		4.4		22	949,025		4.5		22
Oregon	2,744,489		12.8		36	2,711,175		12.9		36	2,696,243		12.5		36
Utah	541,895		2.5		9	549,876		2.7		9	584,001		2.7		9
Nevada	513,980		2.4		8	508,648		2.4		8	527,704		2.5		8
Texas	404,120		1.9		5	371,539		1.8		5	398,736		1.9		5
Arizona	1,587,253		7.4		28	1,610,523		7.6		28	1,619,101		7.6		28
New Mexico	1,479,225		6.9		19	1,555,373		7.3		19	1,622,534		7.6		19
California	4,895,738		22.9		10	4,652,420		22.0		10	4,448,018		20.8		10
Total	$	21,339,773	100%		210	$	21,184,765	100%		210	$	21,373,970	100%		210

Deposits by Type	AMOUNT		%			AMOUNT		%			AMOUNT		%
Non-Interest Checking	$	2,482,010	11.6	%		$	2,514,310	11.9	%		$	2,500,467	11.7	%
Interest Checking	4,579,413		21.5			4,481,465		21.2			4,486,444		21.0
Savings	771,260		3.6			733,973		3.5			718,560		3.4
Money Market	4,506,179		21.1			4,199,257		19.8			4,111,714		19.2
Time Deposits	9,000,911		42.2			9,255,760		43.7			9,556,785		44.7
Total	$	21,339,773	100%			$	21,184,765	100%			$	21,373,970	100%

Deposits Uninsured & Non-collateraized - EOP	$	5,436,402	25.5	%		$	5,238,217	24.7	%		$	5,134,192	24.0	%

Time Deposit Repricing	Amount		Rate			Amount		Rate			Amount		Rate
Within 3 months	$	1,807,709	4.16	%		$	2,300,304	4.37	%		$	2,923,299	4.72	%
From 4 to 6 months	1,880,835		4.38	%		2,586,273		4.76	%		3,140,278		4.65	%
From 7 to 9 months	2,093,121		4.75	%		1,953,833		4.63	%		1,236,201		4.49	%
From 10 to 12 months	1,966,821		4.46	%		1,071,346		4.26	%		1,307,000		4.37	%

Borrowings (Effective Maturity)	Amount		Rate			Amount		Rate			Amount		Rate
Within 1 year	$	4,447,572	5.20	%		$	3,036,283	5.01	%		$	2,274,067	5.00	%
1 to 3 years	191,507		3.12	%		192,425		3.13	%		193,355		3.17	%

More than 5 years	850,422		1.06	%		850,652		1.04	%		850,885		1.23	%
Total	$	5,489,501				$	4,079,360				$	3,318,307

Interest Rate Risk

NPV post up 100 bps shock (b)			9.8	%				8.9	%				8.7	%
NPV post down 100 bps shock (b)			1.1	%				10.7	%				10.2	%
Change in NII after up 100 bps shock (b)			4.1	%				3.0	%				0.2	%
Change in NII after down 100 bps shock (b)			(0.2)	%				1.6	%				0.4	%
(b) Assumes no balance sheet management actions taken.


	Quarter Ended
	March 31, 2024						June 30, 2024						September 30, 2024
	Average				Average		Average				Average		Average				Average
	Balance		Interest		Rate		Balance		Interest		Rate		Balance		Interest		Rate
Assets
Loans receivable	$	19,696,515	$	274,341	5.60	%	$	23,536,530	$	337,118	5.76	%	$	21,258,400	$	308,598	5.78	%
Mortgage-backed securities	1,470,581		12,905		3.53		1,765,314		17,523		3.99		1,817,639		18,088		3.96
Cash & investments	2,020,460		28,901		5.75		2,386,434		33,693		5.68		3,061,063		43,661		5.67
FHLB Stock	138,452		2,679		7.78		164,018		3,608		8.85		99,195		3,750		15.04
Total interest-earning assets	23,326,008		318,826		5.50	%	27,852,296		391,942		5.66	%	26,236,297		374,097		5.67	%
Other assets	1,581,368						1,851,041						1,764,185
Total assets	$	24,907,376					$	29,703,337					$	28,000,482

Liabilities and Shareholders' Equity
Interest-bearing customer accounts	15,080,002		116,164		3.10	%	18,398,704		154,359		3.37	%	18,590,638		165,240		3.54	%
Borrowings	4,323,454		44,065		4.10		5,406,585		60,397		4.49		3,535,015		36,045		4.06

Total interest-bearing liabilities	19,403,456		160,229		3.32	%	23,805,289		214,756		3.63	%	22,125,653		201,285		3.62	%
Noninterest-bearing customer accounts	2,536,757						2,593,381						2,588,528
Other liabilities	328,680						357,611						290,208
Total liabilities	22,268,893						26,756,281						25,004,389
Shareholders’ equity	2,638,483						2,947,056						2,996,093
Total liabilities and shareholders' equity	$	24,907,376					$	29,703,337					$	28,000,482

Net interest income/interest rate spread			$	158,597	2.18	%			$	177,186	2.03	%			$	172,812	2.05	%

Net interest margin (1)					2.73	%					2.56	%					2.62	%

(1) Annualized net interest income divided by average interest-earning assets



	Year Ended September 30,
	2024						2023
	Average Balance		Interest		Average Rate		Average Balance		Interest		Average Rate
Assets
Loans receivable	$	20,500,281	$	1,165,849	5.69	%	$	17,095,014	$	900,068	5.27	%
Mortgage-backed securities	1,597,566		59,782		3.74		1,362,415		43,184		3.17
Cash & investments	2,330,505		133,608		5.73		1,742,806		91,058		5.22
FHLB & FRB stock	131,313		12,471		9.50		127,066		8,645		6.80
Total interest-earning assets	24,559,665		1,371,710		5.59	%	20,327,301		1,042,955		5.13	%
Other assets	1,682,721						1,484,271
Total assets	$	26,242,386					$	21,811,572
Liabilities and Shareholders’ Equity
Interest-bearing customer accounts	$	16,327,208	532,434		3.26	%	$	12,906,383	237,233		1.84	%
Borrowings	4,242,431		178,444		4.21		3,261,917		115,488		3.54

Total interest-bearing liabilities	20,569,639		710,878		3.46	%	16,168,300		352,721		2.18	%
Noninterest-bearing customer accounts	2,593,567						2,969,970
Other liabilities	322,071						296,840
Total liabilities	23,485,277						19,435,110
Shareholders’ equity	2,757,109						2,376,462
Total liabilities and shareholders’ equity	$	26,242,386					$	21,811,572

Net interest income/interest rate spread			$	660,832	2.13	%			$	690,234	2.95	%

Net interest margin					2.69	%					3.40	%


			AMOUNT OF LOANS		# OF LOANS				% based				% based
TYPE OF LOANS	#LOANS	AVG Size	NET OF LIP & CHG-OFFs		30	60	90	Total	on #		$ Delinquent		on $

September 30, 2024
Multi-Family	1,938	2,351	$	4,556,200	—	3	5	8	0.41	%	$	14,673	0.32	%
Commercial Real Estate	1,295	2,882	3,732,155		1	—	3	4	0.31		661		0.02
Commercial & Industrial	1,827	1,277	2,332,732		1	4	8	13	0.71		2,046		0.09
Construction	406	3,507	1,424,016		1	—	3	4	0.99		2,050		0.14
Land - Acquisition & Development	81	1,979	160,317		—	—	2	2	2.47		74		0.05
Single-Family Residential	22,141	374	8,280,300		28	19	52	99	0.45		29,711		0.36
Construction - Custom	364	501	182,415		—	—	2	2	0.55		848		0.46
Land - Consumer Lot Loans	1,017	106	108,060		—	—	1	1	0.10		—		—
HELOC	4,400	61	269,857		13	6	6	25	0.57		2,510		0.93
Consumer	7,677	10	74,055		35	27	64	126	1.64		765		1.03
	41,146	513	$	21,120,107	79	59	146	284	0.69	%	$	53,338	0.25	%
June 30, 2024
Multi-Family	1,951	2,313	$	4,513,323	—	1	2	3	0.15	%	$	6,612	0.15	%
Commercial Real Estate	1,302	2,878	3,746,945		—	2	2	4	0.31		589		0.02
Commercial & Industrial	1,871	1,277	2,389,236		2	—	9	11	0.59		2,138		0.09
Construction	404	3,565	1,440,152		—	1	2	3	0.74		1,120		0.08
Land - Acquisition & Development	82	1,908	156,424		—	—	2	2	2.44		74		0.05
Single-Family Residential	21,789	376	8,186,361		35	16	56	107	0.49		32,111		0.39
Construction - Custom	400	476	190,433		1	—	1	2	0.50		848		0.45
Land - Consumer Lot Loans	1,037	108	111,574		2	1	4	7	0.68		703		0.63
HELOC	4,360	59	258,833		10	3	5	18	0.41		2,251		0.87
Consumer	7,110	12	84,462		32	17	48	97	1.36		275		0.33
	40,306	523	$	21,077,743	82	41	131	254	0.63	%	$	46,721	0.22	%
March 31, 2024
Multi-Family	1,765	2,317	$	4,089,719	12	—	2	14	0.79	%	$	17,644	0.43	%
Commercial Real Estate	1,287	2,754	3,544,884		—	—	7	7	0.54		24,598		0.69
Commercial & Industrial	1,898	1,203	2,283,922		15	—	13	28	1.48		4,575		0.20
Construction	450	3,608	1,623,496		2	—	—	2	0.44		760		0.05
Land - Acquisition & Development	87	2,020	175,704		—	—	3	3	3.45		112		0.06
Single-Family Residential	22,392	385	8,619,916		29	17	56	102	0.46		25,761		0.30
Construction - Custom	451	495	223,377		1	—	1	2	0.44		847		0.38
Land - Consumer Lot Loans	1,076	106	114,256		4	1	1	6	0.56		307		0.27
HELOC	4,318	57	247,305		5	2	3	10	0.23		1,009		0.41
Consumer	7,497	10	74,257		15	15	135	165	2.20		435		0.59
	41,221	509	$	20,996,836	83	35	221	339	0.82	%	$	76,048	0.36	%


Historical CPR Rates (c)
	WAFD		WAFD
Average for Quarter Ended:	SFR Mortgages		GSE MBS











9/30/2022	8.1	%	14.7	%
12/31/2022	6.3	%	12.6	%
3/31/2023	5.8	%	8.9	%
6/30/2023	7.9	%	11.8	%
9/30/2023	7.0	%	14.5	%
12/31/2023	6.6	%	9.7	%
3/31/2024	4.8	%	8.7	%
6/30/2024	6.6	%	12.0	%
9/30/2024	8.6	%	12.9	%

(c) 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.