8-K

                     SECURITIES AND EXCHANGE COMMISSION

                          Washington, D.C.  20549

                                  FORM 8-K

                               CURRENT REPORT


Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934



Date of Report (Date of earliest event reported)       May 20, 2003
                                                ------------------------------



                          Washington Federal, Inc.
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          (Exact name of registrant as specified in its charter)




  Washington                           0-25454                     91-161606
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(State or other jurisdiction    (Commission File Number)        (IRS Employer
of incorporation)                                          Identification No.)




425 Pike Street, Seattle, Washington                                 98101
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(Address of principal executive offices)                           (Zip Code)




Registrant's telephone number, including area code       (206) 624-7930
                                                  ----------------------------



                              Not Applicable
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(Former name, former address and former fiscal year, if changed since last
 report)


Item 5.   Other Events
          -------------

     On May 20, 2003, Washington Federal, Inc. announced by press
release the signing of a merger agreement with United Savings and Loan Bank.
A copy of the press release is attached hereto as Exhibit 99.



Item 7.   Financial Statements, Pro Forma Financial Information and Exhibits
          -------------

     (a)  Not applicable.

     (b)  Not applicable.

     (c)  The following exhibit is included with this Report:

          Exhibit 99  Press Release dated May 20, 2003.









                                 SIGNATURES


     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.


                                   WASHINGTON FEDERAL, INC.



Dated: May 20, 2003                By:  /s/ Brent J. Beardall
                                        ---------------------
                                        Brent J. Beardall
                                        Vice President Finance and
                                        Controller

EX-99

   1

Washington Federal, Inc.
425 Pike Street
Seattle, WA 98101

Contact:  Cathy Cooper
(206) 777-8246


United Savings and Loan Bank
601 So. Jackson Street
Seattle WA, 98114



Tuesday, May 20, 2003
FOR IMMEDIATE RELEASE

WASHINGTON FEDERAL AND UNITED SAVINGS ANNOUNCE MERGER AGREEMENT

SEATTLE - Washington Federal, Inc. (the "Company") (NASDAQ: WFSL) and United
Savings and Loan Bank ("United Savings") announced today the signing of a
definitive merger agreement.  The agreement calls for United Savings, a
Washington-chartered savings and loan association, to be acquired by
the Company's wholly owned subsidiary, Washington Federal Savings and
Loan Association ("Washington Federal Savings").

Under the terms of the merger agreement, shareholders of United Savings
will receive aggregate consideration of $65.0 million for the shares
of common stock outstanding immediately prior to the effective time of
the merger.  United Savings shareholders may elect to be paid in either
common stock or cash, subject to certain procedures designed to ensure
that not more than 50%, nor less than 45%, of the consideration will be
in the form of common stock.  The merger is expected to close in the
third calendar quarter of 2003, pending the receipt of all requisite
regulatory approvals and the approval of United Savings' shareholders.
Upon closing the transaction, current United Savings President & CEO
Derek L. Chinn will be appointed to the Boards of Directors of the
Company and its subsidiary, Washington Federal Savings.

Roy M. Whitehead, President and Chief Executive Officer of the Company
commented, "United Savings has long been known as a conservative, financially
strong organization with a loyal customer base and smart, helpful employees.
We warmly and enthusiastically welcome them to Washington Federal. All
existing United Savings branches will continue to operate as usual with
no planned changes in personnel or the company's important traditions. We
are very pleased to be able to expand our Seattle presence through a
merger with this fine organization."

United Savings President and CEO Derek L. Chinn stated  "Our merger
with Washington Federal creates an excellent opportunity for the
shareholders, customers and employees of United Savings.  Our customers will
benefit from greater convenience and employees will have more career
opportunities.  We are very proud to join a company with a strong
reputation for integrity and a lengthy track record of outstanding
financial performance."

United Savings, headquartered in Seattle, Washington, had total assets
of $317 million, total deposits of $267 million and total stockholders'
equity of $43 million as of March 31, 2003.

As of March 31, 2003 Washington Federal Savings had $7.3 billion in assets,
$4.4 billion in deposits and $988 million equity.  The combined company
will have 119 offices in eight western states.

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