WaFd Bank
Seattle, Washington, King County
$27.6B in total assets, the 82nd largest of 4,309 US banks and 1st of 29 headquartered in Washington.
- FDIC certificate
- 28088
- Established
- 1917
- Owned by
- Wafd Inc
- Primary regulator
- FDIC
- Website
- www.wafdbank.com
At a glance
Compared with 132 US banks with $10 billion to $100 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $27.6B | 63% | $22.4B | |
| Loans | $20.2B | 67% | $14.4B | |
| Deposits | $21.1B | 59% | $18.0B | |
| Return on assets | 0.97% | 21% | 1.30% | |
| Net interest margin | 2.87% | 16% | 3.62% | |
| Efficiency ratio | 52.6% | 40% | 55.2% | |
| Equity to assets | 10.98% | 40% | 11.60% | |
| Loans to deposits | 96% | 82% | 87% |
Growth
Total assets grew 7.0% a year over the last 5 years and 6.4% a year over 10 years, including 1 acquisition in the last 10 years.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| Mar 2024 | Luther Burbank Savings Santa Rosa, CA | $8.2B |
| Oct 2012 | South Valley Bank & Trust Klamath Falls, OR | $836M |
| Dec 2011 | Western National Bank Phoenix, AZ | $163M |
| Oct 2011 | Charter Bank Albuquerque, NM | $706M |
| Jan 2010 | Horizon Bank Bellingham, WA | $1.2B |
| Feb 2008 | First Mutual Bank Bellevue, WA | $1.0B |
| Feb 2007 | First Federal Bank Roswell, NM | $545M |
| Aug 2003 | United Savings and Loan Bank Seattle, WA | $320M |
| Nov 1996 | Metropolitan Federal Savings and Loan Association of Seattle Seattle, WA | $663M |
| May 1994 | Great American Federal Savings Association San Diego, CA | $1.3B |
| Mar 1993 | First Federal Savings Bank Salt Lake City, UT | $372M |
| Sep 1991 | First Federal Savings and Loan Association Idaho Falls, ID | $87M |
| Jun 1990 | Family Federal Savings Association Dallas, OR | $153M |
| Sep 1988 | Freedom Federal Savings and Loan Association Corvallis, OR | $315M |
| Aug 1988 | Northwest Federal Savings and Loan Association Boise, ID | $27M |
| Jul 1987 | United First Federal Savings and Loan Association Boise, ID | $344M |
| Jul 1987 | Provident Federal Savings and Loan Association Boise, ID | $222M |
Where they operate
212 branches in 97 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| King County, WA | $5.7B | 5.5% | 6 of 38 |
| Los Angeles County, CA | $1.4B | 0.3% | 31 of 91 |
| Sonoma County, CA | $1.1B | 5.6% | 6 of 14 |
| Bernalillo County, NM | $912M | 5.3% | 7 of 25 |
| Dallas County, TX | $818M | 0.2% | 34 of 109 |
| Snohomish County, WA | $596M | 3.0% | 8 of 22 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
Net loss of 37 branches since 2016 (249 to 212, −14.9%). 12 opened, 13 acquired, 62 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 249 | |||
| 2016 | Closed 10 in 5 states | 0 | 10 | −10 | 239 |
| 2017 | Opened DallasClosed Hood River | 1 | 1 | 0 | 239 |
| 2018 | Closed Gilchrist and Wenatchee | 0 | 2 | −2 | 237 |
| 2019 | Closed Anacortes and Cannon Afb | 0 | 2 | −2 | 235 |
| 2021 | Closed 16 in 6 states | 0 | 16 | −16 | 219 |
| 2022 | Opened SurpriseClosed 19 in 6 states | 1 | 19 | −18 | 201 |
| 2023 | Opened 5 in 4 statesClosed 7 in 5 states | 5 | 7 | −2 | 199 |
| 2024 | Acquired Luther Burbank SavingsOpened Kennewick, closed Gardena | 14 | 1 | +13 | 212 |
| 2025 | Closed Albuquerque and Boise | 0 | 2 | −2 | 210 |
| 2026 through Q2 | Opened 4 in 4 statesClosed Boise and Globe | 4 | 2 | +2 | 212 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| 1-4 family residential | 38% | 21% | |
| Multifamily | 23% | 8% | |
| Commercial real estate | 21% | 25% | |
| Business (C&I) | 11% | 17% | |
| Construction and land | 7% | 6% | |
| Consumer | 0% | 10% | |
| Other | 1% | 13% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Other interest-bearing | 48% | 62% | |
| Time deposits | 39% | 18% | |
| Noninterest-bearing | 13% | 20% |
Brokered deposits are 7.2% of deposits (peers 7.3%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 0.63% | 0.63% |
| Net charge-offs, annualized | 0.02% | 0.14% |
| Reserves to loans | 1.06% | 1.15% |
| Leverage ratio | 9.21% | 10.26% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in Washington
Largest competitors in King County, WA
Figures as of June 30, 2026 from the bank's Call Report, FDIC structure and branch data, and the Federal Reserve. Short link: bankingstats.com/wafd