WaFd Bank (formerly known as Washington Federal) is a regional bank based in Seattle, Washington. It operates 210 branches in Washington, Oregon, Idaho, Nevada, Utah, Arizona, New Mexico, California, and Texas. 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.
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.
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 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. First Mutual Bank, Bellevue, Washington, 2008 Horizon Bank (18 branches), seized by the Federal Deposit Insurance Corporation after bank failure, Bellingham, Washington, 2010 Charter Bank, 6 branches, Albuquerque, New Mexico, 2011 South Valley Bancorp Inc., Klamath Falls, Oregon, 2012 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 Luther Burbank Savings in California and Washington, March 2024.
References
External links