Document


	As of 09/24					As of 12/24					As of 03/25
Allowance for Credit Losses (ACL) - Total	$	225,253				$	225,022				$	222,709
ACL - Loans	203,753					204,522					202,709
ACL - Unfunded Commitments	21,500					20,500					20,000
Total ACL as a % of Gross Loans	1.01		%			1.00		%			1.01		%







	09/24 QTR			09/24 YTD		12/24 QTR			12/24 YTD		03/25 QTR			03/25 YTD
Loan Originations - Total	$	962,393		$	3,632,072	$	930,689		$	930,689	$	1,008,874		$	1,939,563
Multi-Family	1,997			60,730		6,388			6,388		24,464			30,852
Commercial Real Estate	43,724			246,930		47,726			47,726		82,295			130,021
Commercial & Industrial	431,498			1,677,371		405,877			405,877		429,009			834,886
Construction	191,837			603,829		162,662			162,661		171,344			334,005
Land - Acquisition & Development	15,275			45,406		7,934			7,934		24,474			32,408
Single-Family Residential	138,234			430,272		156,117			156,117		143,203			299,320
Construction - Custom	54,049			209,781		51,009			51,009		28,986			79,995
Land - Consumer Lot Loans	6,946			21,187		4,968			4,968		2,372			7,340
HELOC	42,816			161,917		43,030			43,030		41,897			84,927
Consumer	36,017			174,648		44,978			44,978		60,830			105,808

Purchased Loans (including acquisitions)	$	—		$	6,207,393	$	102,016		$	102,016	$	3,847		$	105,863

Loan Repayments & Payoffs - Total	$	1,129,986		$	4,302,359	$	981,574		$	981,574	$	1,279,011		$	2,260,585
Multi-Family	48,998			164,139		63,136			63,136		80,455			143,591
Commercial Real Estate	47,456			287,398		114,179			114,179		106,057			220,236
Commercial & Industrial	465,350			1,658,384		338,005			338,005		476,377			814,382
Construction	197,283			969,672		116,331			116,331		164,167			280,498
Land - Acquisition & Development	11,174			72,148		29,960			29,960		25,047			55,007
Single-Family Residential	241,570			738,340		214,726			214,726		327,561			542,287
Construction - Custom	29,210			73,178		21,526			21,526		14,704			36,230
Land - Consumer Lot Loans	10,474			38,088		6,556			6,556		7,104			13,660
HELOC	31,934			130,176		34,048			34,048		32,659			66,707
Consumer	46,537			170,836		43,107			43,107		44,880			87,987

Weighted Average Rate on Originations	7.77		%			6.91		%			7.12		%
Weighted Average Rate on Payoffs	6.65		%			6.50		%			6.74		%

Net Loan Fee Accretion	$	4,118		$	17,208	$	3,070		$	3,070	$	3,192		$	6,262
Net Discount Accretion on Acquired Loans	$	6,824		$	20,281	$	6,930		$	6,930	$	6,447		$	13,377

MBS Repayments	64,885			195,831		68,287			68,287		59,306			127,593
MBS Net Premium Amortization	$	403		$	1,060	$	434		$	434	$	877		$	1,311


	As of 09/24				As of 12/24				As of 03/25
Loans Receivable by Category1	Amount		%		Amount		%		Amount		%
Multi-Family	$	4,658,119	20.8	%	$	4,829,736	21.5	%	$	4,967,125	22.4	%
Commercial Real Estate	3,757,040		16.8		3,637,986		16.2		3,665,363		16.6
Commercial & Industrial	2,337,139		10.5		2,408,693		10.6		2,389,025		10.7
Construction	2,174,254		9.7		2,062,116		9.2		1,791,886		8.1
Land - Acquisition & Development	200,713		0.9		178,687		0.8		178,114		0.8
Single-Family Residential	8,399,030		37.6		8,520,833		38.0		8,401,084		37.9
Construction - Custom	384,161		1.7		335,715		1.5		287,461		1.3
Land - Consumer Lot Loans	108,791		0.6		107,205		0.5		102,475		0.5
HELOC	266,151		1.2		275,132		1.2		284,295		1.3
Consumer	73,998		0.3		75,933		0.3		91,899		0.4
	22,359,396		100	%	22,432,036		100	%	22,158,727		100	%
Less:
Loans in Process	1,009,798				903,253				798,996
Net Deferred Fees, Costs and Discounts	229,491				263,760				237,021
Loans at Amortized Cost	21,120,107				21,265,023				21,122,710

Less:
Allowance for Credit Losses (ACL)	203,753				204,522				202,709
Net Loans	$	20,916,354			$	21,060,501			$	20,920,001

Net Loan Portfolio by Category1	Amount		%		Amount		%		Amount		%
Multi-Family	$	4,530,951	21.7	%	$	4,714,800	22.4	%	$	4,840,784	23.2	%
Commercial Real Estate	3,692,946		17.7		3,572,885		17.0		3,601,008		17.2
Commercial & Industrial	2,273,984		10.9		2,343,246		11.1		2,324,598		11.1
Construction	1,401,748		6.7		1,362,145		6.5		1,191,930		5.7
Land - Acquisition & Development	152,416		0.7		139,388		0.7		129,358		0.6
Single-Family Residential	8,239,778		39.4		8,320,765		39.5		8,223,356		39.3
Construction - Custom	180,988		0.9		154,495		0.7		136,424		0.7
Land - Consumer Lot Loans	105,496		0.5		103,961		0.4		99,370		0.4
HELOC	266,808		1.3		275,880		1.3		284,970		1.4
Consumer	71,239		0.3		72,936		0.3		88,203		0.4
	$	20,916,354	100	%	$	21,060,501	100	%	$	20,920,001	100	%
1These loan disclosures are specific to those loans held for investment and exclude loans held for sale.


Loan Contractual Term to Maturity or Repricing2	Amount		Rate		Amount		Rate		Amount		Rate
Within 3 months	$	5,338,837	7.74%		$	5,612,092	7.12%		$	5,577,953	6.98%
From 4 to 6 months	461,449		5.74		372,974		5.83		410,864		5.69
From 7 to 9 months	194,824		5.14		328,727		3.19		341,198		4.70
From 10 to 12 months	261,503		4.95		371,071		4.90		377,179		4.76
1 to 3 years	3,064,601		3.91		3,070,702		4.04		3,063,242		4.22
3 to 5 years	1,973,078		5.06		1,850,505		4.95		1,811,205		4.94
More than 5 years	9,825,815		4.16		9,658,951		4.19		9,541,069		4.22
Total	$	21,120,107	5.17	%	$	21,265,022	5.04	%	$	21,122,710	5.06	%
2Includes the effect of derivatives.


	As of 09/24					As of 12/24					As of 03/25
Loans by State1	Amount			%		Amount			%		Amount			%
Washington	$	5,771,729		27.3	%	$	5,857,840		27.5	%	$	5,726,161		27.1	%
Idaho	924,573			4.4		940,094			4.4		935,583			4.4
Oregon	2,463,530			11.7		2,477,443			11.7		2,505,629			11.9
Utah	2,085,051			9.9		2,114,388			9.9		2,129,700			10.1
Nevada	783,600			3.7		773,271			3.5		786,919			3.6
Texas	2,495,541			11.8		2,500,824			11.8		2,417,928			11.4
Arizona	2,319,106			11.0		2,333,725			11.0		2,355,148			11.1
New Mexico	761,853			3.6		766,170			3.6		802,884			3.8
California	3,037,606			14.4		3,037,930			14.3		2,979,107			14.1
Other	477,518			2.3		463,337			2.2		483,651			2.3
Total	$	21,120,107		100	%	$	21,265,022		100	%	$	21,122,710		100	%

Non-Performing Assets	Amount			%		Amount			%		Amount			%
Non-accrual loans1:
Multi-Family	$	18,743		27.0	%	$	24,077		33.2	%	$	10,477		17.5	%
Commercial Real Estate	26,362			37.9		26,292			36.3		29,320			49.0
Commercial & Industrial	—			—		1,963			2.7		—			—
Construction	1,120			1.6		624			0.9		—			—
Land - Acquisition & Development	74			0.1		—			—		—			—
Single-Family Residential	21,488			30.9		17,440			24.1		18,734			31.3
Construction - Custom	848			1.1		848			1.2		847			1.4
Land - Consumer Lot Loans	—			—		8			—		8			—
HELOC	596			0.9		786			1.1		300			0.5
Consumer	310			0.3		449			0.6		200			0.3
Total non-accrual loans	69,541			100	%	72,487			100	%	59,886			100	%
Real Estate Owned	4,567					3,316					7,688
Other Property Owned	3,310					3,310					3,310
Total non-performing assets	$	77,418				$	79,113				$	70,884

Non-accrual loans as % of total net loans	0.33		%			0.34		%			0.29		%
Non-performing assets as % of total assets	0.28		%			0.29		%			0.26		%

Net Charge-offs (Recoveries) by Category	09/24 QTR			CO % (a)		12/24 QTR			CO % (a)		03/25 QTR			CO % (a)
Multi-Family	$	—		—	%	$	—		—	%	$	—		—	%
Commercial Real Estate	—			—		163			0.02		4,223			0.46
Commercial & Industrial	136			0.02		353			0.06		198			0.03
Construction	—			—		—			—		—			—
Land - Acquisition & Development	114			0.23		(12)			(0.03)		(8)			(0.02)
Single-Family Residential	(88)			—		(456)			(0.02)		331			0.02
Construction - Custom	(1)			—		—			—		—			—
Land - Consumer Lot Loans	(1)			—		—			—		—			—
HELOC	(1)			—		(1)			—		—			—
Consumer	(89)			(0.48)		184			0.97		319			1.39
Total net charge-offs (recoveries)	$	70		—	%	$	231		—	%	$	5,063		0.09	%


	09/24 QTR			09/24 YTD			12/24 QTR			12/24 YTD			03/25 QTR			03/25 YTD
Efficiency
Operating Expenses/Average Assets	1.54		%	1.71		%	1.62		%	1.62		%	1.53		%	1.58		%
Efficiency Ratio (%)	57.21		%	62.13		%	65.04		%	65.04		%	58.31		%	61.59		%
Amortization of Intangibles	$	2,977		$	7,743		$	2,755		$	2,755		$	2,553		$	5,308

EOP Numbers
Shares Issued and Outstanding	81,220,269						81,373,760						80,758,674

Share repurchase information
Remaining shares authorized for repurchase	11,501,005						11,501,005						10,777,898
Shares repurchased	7,174			1,070,207			89,528			89,528			726,082			815,610
Average share repurchase price	$	34.82		$	25.29		$	38.09		$	38.09		$	29.39		$	30.35


	As of 09/24					As of 12/24					As of 03/25
Deposits & Branches by State	Amount		%		#	Amount		%		#	Amount		%		#
Washington	$	8,528,608	39.9	%	73	$	8,589,398	40.1	%	73	$	8,723,693	40.7	%	73
Idaho	949,025		4.4		22	946,554		4.4		22	949,570		4.4		21
Oregon	2,696,243		12.6		36	2,704,966		12.6		36	2,798,850		13.1		36
Utah	584,001		2.7		9	573,469		2.7		9	601,503		2.8		9
Nevada	527,704		2.5		8	531,383		2.5		8	538,439		2.5		8
Texas	398,736		1.8		5	683,513		3.2		5	398,210		1.9		5
Arizona	1,619,101		7.6		28	1,628,742		7.6		28	1,676,939		7.8		28
New Mexico	1,622,534		7.6		19	1,568,788		7.3		19	1,666,280		7.8		19
California	4,448,018		20.8		10	4,211,964		19.6		10	4,073,942		19.0		10
Total	$	21,373,970	100	%	210	$	21,438,777	100	%	210	$	21,427,426	100	%	209

Deposits by Type	Amount		%			Amount		%			Amount		%
Non-Interest Checking	$	2,500,467	11.7	%		$	2,489,394	11.6	%		$	2,400,172	11.2	%
Interest Checking	4,486,444		21.0			4,554,922		21.2			4,625,596		21.6
Savings	718,560		3.4			714,755		3.4			715,199		3.3
Money Market	4,111,714		19.2			4,094,788		19.1			4,113,017		19.2
Time Deposits	9,556,785		44.7			9,584,918		44.7			9,573,442		44.7
Total	$	21,373,970	100	%		$	21,438,777	100	%		$	21,427,426	100	%

Deposits Uninsured & Non-collateralized - EOP	$	5,134,192	24.0	%		$	5,317,511	24.8	%		$	5,490,142	25.6	%

Time Deposit Repricing	Amount		Rate			Amount		Rate			Amount		Rate
Within 3 months	$	2,923,299	4.72	%		$	3,744,158	4.59	%		$	3,380,830	4.31	%
From 4 to 6 months	3,140,278		4.65	%		2,655,054		4.38	%		3,153,646		4.23	%
From 7 to 9 months	1,236,201		4.49	%		1,538,725		4.49	%		1,412,021		3.86	%
From 10 to 12 months	1,307,000		4.37	%		836,930		3.41	%		962,710		3.39	%

Borrowings (Effective Maturity)	Amount		Rate			Amount		Rate			Amount		Rate
Within 3 months	$	449,584	5.39	%		$	1,850,825	4.84	%		$	1,750,000	4.50	%
From 4 to 6 months	1,824,483		4.91	%		—		—	%		—		—	%
From 7 to 9 months	—		—	%		—		—	%		—		—	%
From 10 to 12 months	—		—	%		—		—	%		100,000		1.67	%
1 to 3 years	193,355		3.17	%		194,284		3.14	%		95,193		4.66	%
3 to 5 years	—		—	%		18,400		—	%		18,565		0.04	%
More than 5 years	850,885		1.23	%		851,118		1.15	%		851,180		0.95	%
Total	$	3,318,307				$	2,914,627				$	2,814,938


	Quarter Ended
	September 30, 2024						December 31, 2024						March 31, 2025
	Average Balance		Interest		Average Rate		Average Balance		Interest		Average Rate		Average Balance		Interest		Average Rate
Assets
Loans receivable	$	21,258,400	$	308,598	5.78	%	$	20,954,663	$	286,597	5.43	%	$	20,918,986	$	282,077	5.47	%
Mortgage-backed securities	1,817,639		18,088		3.96		1,882,688		18,337		3.86		2,369,535		23,926		4.10
Cash & investments	3,061,063		43,661		5.67		2,855,030		37,941		5.27		2,216,944		27,631		5.05
FHLB Stock	99,195		3,750		15.04		106,062		2,242		8.39		123,346		2,450		8.06

Total interest-earning assets	26,236,297		374,097		5.67	%	25,798,443		345,117		5.31	%	25,628,811		336,084		5.32	%
Other assets	1,764,185						1,706,133						1,742,509
Total assets	$	28,000,482					$	27,504,576					$	27,371,320

Liabilities and Shareholders' Equity
Interest-bearing customer accounts	$	18,590,638	165,240		3.54	%	$	18,743,048	162,150		3.43	%	$	18,881,290	151,948		3.26	%
Borrowings	3,535,015		36,045		4.05		2,899,012		27,536		3.77		2,723,664		23,226		3.46


Total interest-bearing liabilities	22,125,653		201,285		3.62	%	21,642,060		189,686		3.48	%	21,604,954		175,174		3.29	%
Noninterest-bearing customer accounts	2,588,528						2,523,510						2,448,965
Other liabilities	290,208						323,809						278,380
Total liabilities	25,004,389						24,489,379						24,332,299
Stockholders’ equity	2,996,093						3,015,197						3,039,021
Total liabilities and equity	$	28,000,482					$	27,504,576					$	27,371,320

Net interest income/interest rate spread			$	172,812	2.05	%			$	155,431	1.83	%			$	160,910	2.03	%

Net interest margin(1)					2.62	%					2.39	%					2.55	%


						# of Loans
Type of Loans	#Loans	AVG Size	Loans Amortized Cost			30	60	90	Total	% Based on #		$ Delinquent			% Based on #
March 31, 2025
Multi-Family	1,901	2,560		$	4,867,340	12	—	3	15	0.79	%		$	15,220	0.31	%
Commercial Real Estate	1,288	2,826		3,639,477		2	1	2	5	0.39			3,821		0.10
Commercial & Industrial	2,057	1,159		2,384,745		10	1	10	21	1.02			53		—
Construction	370	3,274		1,211,336		—	—	—	—	—			—		—
Land - Acquisition & Development	70	1,944		136,061		—	—	—	—	—			—		—
Single-Family Residential	21,516	384		8,264,318		46	15	60	121	0.56			34,312		0.42
Construction - Custom	266	517		137,501		—	—	2	2	0.75			848		0.62
Land - Consumer Lot Loans	976	104		101,784		1	—	2	3	0.31			175		0.17
HELOC	4,473	64		288,228		12		6	24	0.54			2,835		0.98
Consumer	8,463	11		91,920		22	18	42	82	0.97			683		0.74
	41,380	510		$	21,122,710	105	41	127	273	0.66	%		$	57,947	0.27	%

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	3	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	%


Tangible Common Shareholders' Book Value	As of 09/24		As of 12/24		As of 03/25
$ Amount	$	2,251,875	$	2,272,423	$	2,285,960
Per Share	27.73		27.93		28.31

# of Employees	2,208		2,175		2,018

Investments
Available-for-sale:
Agency MBS	$	1,387,025	$	1,600,089	$	2,074,672
Other	1,185,684		1,143,642		1,068,091
	$	2,572,709	$	2,743,731	$	3,142,763
Held-to-maturity:
Agency MBS	$	436,972	$	537,348	$	526,502
	$	436,972	$	537,348	$	526,502


	09/24 QTR		09/24 YTD		12/24 QTR		12/24 YTD		03/25 QTR		03/25 YTD
Net Premium(Discount) Amortization on Acquired Deposits and Borrowings	$	305	$	(185)	$	(2,920)	$	(2,920)	$	(1,811)	$	(4,731)


Historical CPR Rates (c)
Average for Quarter Ended:	WAFD SFR Mortgages		WAFD GSE MBS
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	%
3/31/2025	8.1	%	9.1	%


Interest Rate Risk(b)	As of 09/24			As of 12/24			As of 03/25

NPV post up 100 bps shock		8.7	%		9.5	%		9.4	%
NPV post down 100 bps shock		10.2	%		11.6	%		11.6	%
Change in NII after up 100 bps shock		0.2	%		1.3	%		1.0	%
Change in NII after down 100 bps shock		0.4	%		2.0	%		1.3	%
(b)Assumes no balance sheet management actions taken.


			WaFd Fact Sheet Q2 2025			1


			WaFd Fact Sheet Q2 2025			2


			WaFd Fact Sheet Q2 2025			3


			WaFd Fact Sheet Q2 2025			4