Document


	As of 06/24						As of 09/24						As of 12/24
Allowance for Credit Losses (ACL) - Total	$	225,324					$	225,253					$	225,022
ACL - Loans	203,824						203,753						204,522
ACL - Unfunded Commitments	21,500						21,500						20,500
Total ACL as a % of Gross Loans	1.00		%				1.01		%				1.00		%







	06/24 QTR			06/24 YTD			09/24 QTR			09/24 YTD			12/24 QTR			12/24 YTD
Loan Originations - Total	$	972,500		$	2,669,679		$	962,393		$	3,632,072		$	930,789		$	930,789
Multi-Family	8,523			58,733			1,997			60,730			6,388			6,388
Commercial Real Estate	57,956			203,206			43,724			246,930			47,826			47,826
Commercial & Industrial	456,351			1,245,873			431,498			1,677,371			405,877			405,877
Construction	124,978			411,993			191,837			603,829			162,662			162,662
Land - Acquisition & Development	6,099			30,131			15,275			45,406			7,934			7,934
Single-Family Residential	141,018			292,038			138,234			430,272			156,117			156,117
Construction - Custom	58,490			155,732			54,049			209,781			51,009			51,009
Land - Consumer Lot Loans	6,478			14,241			6,946			21,187			4,968			4,968
HELOC	46,246			119,101			42,816			161,917			43,030			43,030
Consumer	66,361			138,631			36,017			174,648			44,978			44,978

Purchased Loans (including acquisitions)	$	—		$	6,207,393		$	—		$	6,207,393		$	102,016		$	102,016

Net Loan Fee and Discount Accretion	$	14,807		$	26,547		$	10,942		$	37,489		$	10,000		$	10,000

Repayments
Loans	$	1,035,515		$	3,172,373		$	1,129,986		$	4,302,359		$	981,574		$	981,574
MBS	58,582			130,946			64,885			195,831			68,287			68,287

MBS Net Premium Amortization	$	561		$	657		$	403		$	1,060		$	434		$	434

Efficiency
Operating Expenses/Average Assets	1.48		%	1.77		%	1.54		%	1.71		%	1.62		%	1.62		%
Efficiency Ratio (%)	56.61		%	63.87		%	57.21		%	62.13		%	65.04		%	65.04		%
Amortization of Intangibles	$	3,197		$	4,766		$	2,977		$	7,743		$	2,755		$	2,755

EOP Numbers
Shares Issued and Outstanding	81,157,173						81,220,269						81,373,760

Share repurchase information
Remaining shares authorized for repurchase	11,501,005						11,501,005						11,501,005
Shares repurchased	357,303			1,063,033			7,174			1,070,207			89,528			89,528
Average share repurchase price	$	26.63		$	25.23		$	34.82		$	25.29		$	38.09		$	38.09


Tangible Common Shareholders' Book Value	As of 06/24				As of 09/24				As of 12/24
$ Amount	$	2,206,084			$	2,251,875			$	2,272,423
Per Share	27.18				27.73				27.93

# of Employees	2,204				2,208				2,175

Investments
Available-for-sale:
Agency MBS	$	1,351,997			$	1,387,025			$	1,600,089
Other	1,076,771				1,185,684				1,143,642
	$	2,428,768			$	2,572,709			$	2,743,731
Held-to-maturity:
Agency MBS	$	447,638			$	436,972			$	537,348
	$	447,638			$	436,972			$	537,348

	As of 06/24				As of 09/24				As of 12/24
Loans Receivable by Category1	Amount		%		Amount		%		Amount		%
Multi-Family	$	4,616,359	20.5	%	$	4,658,119	20.8	%	$	4,829,736	21.5	%
Commercial Real Estate	3,781,247		16.8		3,757,040		16.8		3,637,986		16.2
Commercial & Industrial	2,394,978		10.7		2,337,139		10.5		2,408,693		10.6
Construction	2,247,530		9.9		2,174,254		9.7		2,062,116		9.2
Land - Acquisition & Development	195,796		0.9		200,713		0.9		178,687		0.8
Single-Family Residential	8,364,415		37.2		8,399,030		37.6		8,520,833		38.0
Construction - Custom	414,483		1.8		384,161		1.7		335,715		1.5
Land - Consumer Lot Loans	112,317		0.5		108,791		0.6		107,205		0.5
HELOC	255,271		1.1		266,151		1.2		275,132		1.2
Consumer	84,445		0.4		73,998		0.3		75,933		0.3
	22,466,841		100	%	22,359,396		100	%	22,432,036		100	%
Less:
Allowance for Credit Losses (ACL)	203,824				203,753				204,522
Loans in Process	1,094,956				1,009,798				903,253
Net Deferred Fees, Costs and Discounts	294,142				229,491				263,760

Sub-Total	1,592,922				1,443,042				1,371,535
	$	20,873,919			$	20,916,354			$	21,060,501

Net Loan Portfolio by Category1	Amount		%		Amount		%		Amount		%
Multi-Family	$	4,488,124	21.5	%	$	4,530,951	21.7	%	$	4,714,800	22.4	%
Commercial Real Estate	3,707,189		17.8		3,692,946		17.7		3,572,885		17.0
Commercial & Industrial	2,331,403		11.2		2,273,984		10.9		2,343,246		11.1
Construction	1,417,444		6.8		1,401,748		6.7		1,362,145		6.5
Land - Acquisition & Development	148,724		0.7		152,416		0.7		139,388		0.7
Single-Family Residential	8,146,045		39.0		8,239,778		39.4		8,320,765		39.5
Construction - Custom	188,940		0.9		180,988		0.9		154,495		0.7
Land - Consumer Lot Loans	108,927		0.5		105,496		0.5		103,961		0.4
HELOC	255,908		1.2		266,808		1.3		275,880		1.3
Consumer	81,215		0.4		71,239		0.3		72,936		0.3
	$	20,873,919	100	%	$	20,916,354	100	%	$	21,060,501	100	%
1These loan disclosures are specific to those loans held for investment and exclude loans held for sale.


	As of 06/24					As of 09/24					As of 12/24
Loans by State1	Amount			%		Amount			%		Amount			%
Washington	$	5,771,422		27.4	%	$	5,771,729		27.3	%	$	5,857,840		27.5	%
Idaho	917,733			4.4		924,573			4.4		940,094			4.4
Oregon	2,486,762			11.8		2,463,530			11.7		2,477,443			11.7
Utah	2,084,601			9.9		2,085,051			9.9		2,114,388			9.9
Nevada	776,656			3.7		783,600			3.7		773,271			3.5
Texas	2,526,689			12.0		2,495,541			11.8		2,500,824			11.8
Arizona	2,314,192			11.0		2,319,106			11.0		2,333,725			11.0
New Mexico	750,935			3.7		761,853			3.6		766,170			3.6
California	3,027,699			14.4		3,037,606			14.4		3,037,930			14.3
Other	421,054			2.0		477,518			2.3		463,337			2.2
Total	$	21,077,743		100	%	$	21,120,107		100	%	$	21,265,022		100	%

Non-Performing Assets	Amount			%		Amount			%		Amount			%
Non-accrual loans1:
Multi-Family	$	9,984		16.3	%	$	18,743		27.0	%	$	24,077		33.2	%
Commercial Real Estate	26,408			43.1		26,362			37.9		26,292			36.3
Commercial & Industrial	2,138			3.5		—			—		1,963			2.7
Construction	1,120			1.8		1,120			1.6		624			0.9
Land - Acquisition & Development	74			0.1		74			0.1		—			—
Single-Family Residential	20,422			33.2		21,488			30.9		17,440			24.1
Construction - Custom	88			0.1		848			1.1		848			1.2
Land - Consumer Lot Loans	236			0.4		—			—		8			—
HELOC	758			1.2		596			0.9		786			1.1
Consumer	40			0.1		310			0.3		449			0.6
Total non-accrual loans	61,268			100	%	69,541			100	%	72,487			100	%
Real Estate Owned	4,209					4,567					3,316
Other Property Owned	3,310					3,310					3,310
Total non-performing assets	$	68,787				$	77,418				$	79,113

Non-accrual loans as % of total net loans	0.29		%			0.33		%			0.34		%
Non-performing assets as % of total assets	0.24		%			0.28		%			0.29		%

Net Charge-offs (Recoveries) by Category	06/24 QTR			CO % (a)		09/24 QTR			CO % (a)		12/24 QTR			CO % (a)
Multi-Family	$	—		—	%	$	—		—	%	$	—		—	%
Commercial Real Estate	201			0.02		—			—		163			0.02
Commercial & Industrial	1,343			0.22		136			0.02		353			0.06
Construction	—			—		—			—		—			—
Land - Acquisition & Development	(17)			(0.03)		114			0.23		(12)			(0.03)
Single-Family Residential	(105)			(0.01)		(88)			—		(456)			(0.02)
Construction - Custom	—			—		(1)			—		—			—
Land - Consumer Lot Loans	(2)			(0.01)		(1)			—		—			—
HELOC	(1)			—		(1)			—		(1)			—
Consumer	(166)			(0.79)		(89)			(0.48)		184			0.97
Total net charge-offs (recoveries)	$	1,253		0.02	%	$	70		—	%	$	231		—	%


	As of 06/24					As of 09/24					As of 12/24
Deposits & Branches by State	Amount		%		#	Amount		%		#	Amount		%		#
Washington	$	8,302,664	39.2	%	73	$	8,528,608	39.9	%	73	$	8,589,398	40.1	%	73
Idaho	922,547		4.4		22	949,025		4.4		22	946,554		4.4		22
Oregon	2,711,175		12.8		36	2,696,243		12.6		36	2,704,966		12.6		36
Utah	549,876		2.6		9	584,001		2.7		9	573,469		2.7		9
Nevada	508,648		2.4		8	527,704		2.5		8	531,383		2.5		8
Texas	371,539		1.7		5	398,736		1.9		5	683,513		3.2		5
Arizona	1,610,523		7.6		28	1,619,101		7.6		28	1,628,742		7.6		28
New Mexico	1,555,373		7.3		19	1,622,534		7.6		19	1,568,788		7.3		19
California	4,652,420		22.0		10	4,448,018		20.8		10	4,211,964		19.6		10
Total	$	21,184,765	100	%	210	$	21,373,970	100	%	210	$	21,438,777	100	%	210

Deposits by Type	Amount		%			Amount		%			Amount		%
Non-Interest Checking	$	2,514,310	11.9	%		$	2,500,467	11.7	%		$	2,489,394	11.6	%
Interest Checking	4,481,465		21.2			4,486,444		21.0			4,554,922		21.2
Savings	733,973		3.5			718,560		3.4			714,755		3.4
Money Market	4,199,257		19.8			4,111,714		19.2			4,094,788		19.1
Time Deposits	9,255,760		43.7			9,556,785		44.7			9,584,918		44.7
Total	$	21,184,765	100	%		$	21,373,970	100	%		$	21,438,777	100	%

Deposits Uninsured & Non-collateralized - EOP	$	5,238,217	24.7	%		$	5,134,192	24.0	%		$	5,317,511	24.8	%

Time Deposit Repricing	Amount		Rate			Amount		Rate			Amount		Rate
Within 3 months	$	2,300,304	4.37	%		$	2,923,299	4.72	%		$	3,744,158	4.59	%
From 4 to 6 months	2,586,273		4.76	%		3,140,278		4.65	%		2,655,054		4.38	%
From 7 to 9 months	1,953,833		4.63	%		1,236,201		4.49	%		1,538,725		4.49	%
From 10 to 12 months	1,071,346		4.26	%		1,307,000		4.37	%		836,930		3.41	%

Borrowings (Effective Maturity)	Amount		Rate			Amount		Rate			Amount		Rate
Within 1 year	$	3,036,283	5.01	%		$	2,274,067	5.00	%		$	1,850,825	4.84	%
1 to 3 years	192,425		3.13	%		193,355		3.17	%		194,284		3.14	%
3 to 5 years	—		—	%		—		—	%		18,400		—	%
More than 5 years	850,652		1.04	%		850,885		1.23	%		851,118		1.15	%
Total	$	4,079,360				$	3,318,307				$	2,914,627

Interest Rate Risk(b)

NPV post up 100 bps shock			8.9	%				8.7	%				9.5	%
NPV post down 100 bps shock			10.7	%				10.2	%				11.6	%
Change in NII after up 100 bps shock			3.0	%				0.2	%				1.3	%
Change in NII after down 100 bps shock			1.6	%				0.4	%				2.0	%


	Quarter Ended
	June 30, 2024						September 30, 2024						December 31, 2024
	Average Balance		Interest		Average Rate		Average Balance		Interest		Average Rate		Average Balance		Interest		Average Rate
Assets
Loans receivable	$	23,536,530	$	337,118	5.76	%	$	21,258,400	$	308,598	5.78	%	$	20,954,663	$	286,597	5.43	%
Mortgage-backed securities	1,765,314		17,523		3.99		1,817,639		18,088		3.96		1,882,688		18,337		3.86
Cash & investments	2,386,434		33,693		5.68		3,061,063		43,661		5.67		2,855,030		37,941		5.27
FHLB Stock	164,018		3,608		8.85		99,195		3,750		15.04		106,062		2,242		8.39

Total interest-earning assets	27,852,296		391,942		5.66	%	26,236,297		374,097		5.67	%	25,798,443		345,117		5.31	%
Other assets	1,851,041						1,764,185						1,706,133
Total assets	$	29,703,337					$	28,000,482					$	27,504,576

Liabilities and Shareholders' Equity
Interest-bearing customer accounts	$	18,398,704	154,359		3.37	%	$	18,590,638	165,240		3.54	%	$	18,743,048	162,150		3.43	%
Borrowings	5,406,585		60,397		4.49		3,535,015		36,045		4.05		2,899,012		27,536		3.77


Total interest-bearing liabilities	23,805,289		214,756		3.63	%	22,125,653		201,285		3.62	%	21,642,060		189,686		3.48	%
Noninterest-bearing customer accounts	2,593,381						2,588,528						2,523,510
Other liabilities	357,611						290,208						323,809
Total liabilities	26,756,281						25,004,389						24,489,379
Stockholders’ equity	2,947,056						2,996,093						3,015,197
Total liabilities and equity	$	29,703,337					$	28,000,482					$	27,504,576

Net interest income/interest rate spread			$	177,186	2.03	%			$	172,812	2.05	%			$	155,431	1.83	%

Net interest margin(1)					2.56	%					2.62	%					2.39	%


						# of Loans
Type of Loans	#Loans	AVG Size	Loans Amortized Cost			30	60	90	Total	% Based on #		$ Delinquent			% Based on #
December 31, 2024
Multi-Family	1,922	2,467		$	4,740,797	10	3	10	23	1.20	%		$	23,504	0.50	%
Commercial Real Estate	1,282	2,817		3,610,758		1	1	3	5	0.39			670		0.02
Commercial & Industrial	1,792	1,341		2,403,719		12	5	9	26	1.45			2,246		0.09
Construction	389	3,555		1,383,048		2	1	2	5	1.29			4,495		0.33
Land - Acquisition & Development	78	1,880		146,609		—	—	—	—	—			—		—
Single-Family Residential	21,643	386		8,362,881		34	17	59	110	0.51			29,597		0.35
Construction - Custom	308	506		155,714		—	—	2	2	0.65			848		0.54
Land - Consumer Lot Loans	998	107		106,489		2	—	2	4	0.40			333		0.31
HELOC	4,466	62		279,039		9		10	22	0.49			2,037		0.73
Consumer	7,947	10		75,969		16	15	70	101	1.27			712		0.94
	40,825	521		$	21,265,023	86	45	167	298	0.73	%		$	64,442	0.30	%

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	%


Historical CPR Rates (c)
Average for Quarter Ended:	WAFD SFR Mortgages		WAFD GSE MBS
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	%
12/31/2024	8.1	%	12.7	%


			WaFd Fact Sheet Q1 2025			1


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