WaFd Bank
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Washington Federal Bank (doing business as WaFd Bank) is a bank based in Seattle, Washington. It operates 210 branches in Washington, Oregon, Idaho, Nevada, Utah, Arizona, New Mexico, California, and Texas.<ref name=10K/> It is on the list of largest banks in the United States.
History
The bank was founded on April 24, 1917 in Ballard, Washington as Ballard Savings and Loan by a group of businessmen. In 1958, it merged with Washington Federal Savings and Loan Association of Bothell. The bank took the name Washington Federal for "wider geographical acceptance".
The bank demutualized in 1982 and the present holding company structure was adopted in 1995.
In 2019, the bank was rebranded as WaFd Bank (pronounced Wah-Fed), a long-used nickname for the bank.<ref>Template:Cite web</ref>
In January 2025, WaFd Bank announced it would exit mortgage lending after more than a century in the market, citing rising regulatory burdens and limited profitability, and refocus its business model on small business banking and commercial lending.<ref>Template:Cite web</ref>
Acquisitions
- Seattle Federal Savings and Loan, 1971
- First Federal Savings and Loan Association, Mount Vernon, Washington, 1978
- United First Federal, Boise, Idaho, 1987
- Provident Federal Savings and Loan, Boise, 1987
- Northwest Federal Savings and Loan, Boise, 1988
- Freedom Federal Savings and Loan, Corvallis, Oregon, 1988
- Family Federal Savings and Loan Association, Dallas, Oregon, 1990
- First Federal Savings and Loan Association, Idaho Falls, Idaho, 1991
- Metropolitan Savings Association, Portland and Eugene, Oregon, 1991
- First Federal Savings Bank, Salt Lake City, 1993
- West Coast Mutual Savings Bank, Centralia, Washington, 1996
- Metropolitan Bancorp, Seattle, November 29, 1996<ref>Template:Cite news</ref>
- United Savings and Loan Bank (4 branches, based in Seattle) for $65 million in 2003. Founded on July 6, 1960, it was the first savings and loan owned by Asian Americans.<ref>Template:Cite news</ref>
- First Mutual Bank, Bellevue, Washington, 2008<ref>Template:Cite press release</ref>
- Horizon Bank (18 branches), seized by the Federal Deposit Insurance Corporation after bank failure, Bellingham, Washington, 2010<ref>Template:Cite web</ref><ref>Template:Cite news</ref>
- Charter Bank, 6 branches, Albuquerque, New Mexico, 2011 <ref>Template:Cite web</ref>
- South Valley Bancorp Inc., Klamath Falls, Oregon, 2012<ref>Template:Cite news</ref>
- 51 branches from Bank of America in Washington, Oregon, Idaho, and New Mexico, 2013
- 23 branches from Bank of America in Arizona and Nevada, 2014<ref>Template:Cite news</ref>
- Luther Burbank Savings in California and Washington, March 2024.<ref>Template:Cite web</ref>
References
External links
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