WaFd Bank

What sets WaFd Bank apart

How large is WaFd Bank?

The balance sheet of WaFd Bank at Q2 2026: assets $27.6 bn, deposits $21.1 bn, net loans $20.0 bn (loans equal to 95.11% of deposits). Securities make up 18.3% of total assets at WaFd Bank. Since Q1 2016, when WaFd Bank held $14.7 bn, its assets grew 88.0%. In the year to Q2 2026, deposits at WaFd Bank fell 2.1% while its total assets rose 3.2%. At Q2 2026, WaFd Bank employed 2,054 full-time equivalent staff across 214 offices, about $13.4 mn of assets per employee and $98.4 mn of deposits per office.

How much funding at WaFd Bank is uninsured?

At WaFd Bank, uninsured deposits (above the FDIC limit) made up 31.10% of domestic deposits at Q2 2026 (+1.95 pp on a year earlier); WaFd Bank ranks 298th of 500 on this measure. In dollars, WaFd Bank estimated $6.5 bn of uninsured deposits.

Key facts, Q2 2026

US rank of WaFd Bank: 1 = highest unless marked 1 = lowest.

The CET1 ratio of WaFd Bank stood at 12.95% in Q2 2026, -0.48 pp year on year. Low and high at WaFd Bank since Q1 2016: 10.70% (Q4 2022) to 17.97% (Q1 2016). Equity capital of WaFd Bank at Q2 2026: $3.0 bn, or 11.0% of total assets. WaFd Bank also reported a total capital ratio of 14.14% for Q2 2026, and a tier 1 leverage ratio of 9.21%.

On held-to-maturity securities, WaFd Bank carried an unrealized loss of $36.7 mn at Q2 2026, equal to 1.2% of equity capital. The loss narrowed by $4.1 mn over the year. Its deepest point: $76.6 mn in Q3 2018. The available-for-sale portfolio of WaFd Bank showed an unrealized loss of $41.5 mn at Q2 2026; the loss narrowed by $10.7 mn over the year.

For the year to Q2 2026, WaFd Bank earned a return on equity of 8.98%; return on assets: 0.99%. Net interest margin at WaFd Bank: 2.87%, +0.23 pp in a year. WaFd Bank net income: $135.9 mn, up 11.9% year on year. The efficiency ratio of WaFd Bank was 52.58%: about 53 cents cost per revenue dollar, against 51 cents at the median peer.

At Q2 2026, noncurrent loans were 0.63% of total loans at WaFd Bank; net charge-offs: 0.02% of average loans. Gross loans and leases at WaFd Bank: $20.2 bn, down 1.2% in a year.

The peer group of WaFd Bank is the 6 banks nearest to it by total assets at Q2 2026: 3 larger and 3 smaller. Of the peers, 2 share the charter type of WaFd Bank (state nonmember bank), 6 sit in the same size group ($10 bn to $100 bn) and 0 have head offices in Washington. Against them, WaFd Bank shows CET1 ratio 12.95% against a peer median of 12.71%, return on equity 8.98% against a peer median of 9.16% and uninsured deposit share 31.10% against a peer median of 38.25%.

The FDIC history of WaFd Bank, oldest first; figures before and after each event are not like for like.

1. 1 March 2024. Absorbed Luther Burbank Savings (FDIC certificate 32178).

Large one-quarter moves at WaFd Bank

• Total assets at WaFd Bank changed by +33.1% in the quarter to 2024-03-31: Merger -Without Assistance; Participated in Absorbtion/Consolidation/Merger: acquired from Luther Burbank Savings.