EX-99.2 3 exhibit992_june2022factshe.htm EX-99.2 Document
Washington Federal, Inc.
Fact Sheet
June 30, 2022
($ in Thousands)
Exhibit 99.2
As of 12/21As of 03/22As of 06/22
Allowance for Credit Losses (ACL) - Total$201,411 $201,384 $203,479 
     ACL - Loans171,411 171,384 170,979 
     ACL - Unfunded Commitments30,000 30,000 32,500 
     Total ACL as a % of Gross Loans1.18 %1.13 %1.08 %
12/21 QTR12/21 YTD03/22 QTR03/22 YTD06/22 QTR06/22 YTD
Loan Originations - Total$2,134,338 $2,134,338 $2,227,505 $4,361,843 $2,742,466 $7,104,309 
     Multi-Family196,266 196,266 224,179 420,445 181,015 601,460 
     Commercial Real Estate304,580 304,580 173,381 477,961 196,663 674,624 
     Commercial & Industrial772,536 772,536 642,243 1,414,779 637,193 2,051,972 
     Construction385,447 385,447 686,847 1,072,294 1,050,981 2,123,275 
     Land - Acquisition & Development34,085 34,085 20,731 54,816 50,035 104,851 
     Single-Family Residential219,416 219,416 242,492 461,908 283,061 744,969 
     Construction - Custom162,826 162,826 175,733 338,559 248,518 587,077 
     Land - Consumer Lot Loans19,153 19,153 16,430 35,583 17,195 52,778 
     HELOC33,275 33,275 38,410 71,685 48,640 120,325 
     Consumer6,754 6,754 7,059 13,813 29,165 42,978 
Purchased Loans (including acquisitions)$402,819 $402,819 $109,664 $512,483 $52,101 $564,584 
Net Loan Fee and Discount Accretion$9,362 $9,362 $7,679 $17,041 $6,354 $23,395 
Repayments
Loans$1,833,099 $1,833,099 $1,544,408 $3,377,507 $1,690,945 $5,068,452 
MBS98,275 98,275 70,182 168,457 70,635 239,092 
MBS Premium Amortization$1,305 $1,305 $1,014 $2,319 $820 $3,139 
Efficiency
Operating Expenses/Average Assets1.81 %1.81 %1.75 %1.78 %1.72 %1.76 %
Efficiency Ratio (%)58.64 %58.64 %58.65 %58.65 %51.63 %56.13 %
Amortization of Intangibles$272 $272 $247 $519 $246 $765 
EOP Numbers
Shares Issued and Outstanding65,263,738 65,306,928 65,321,869 
Share repurchase information
Remaining shares authorized for repurchase3,733,004 3,728,320 3,725,874 
Shares repurchased84,114 84,114 4,684 88,798 2,446 91,244 
Average share repurchase price$35.34 $35.34 $34.65 $35.31 $31.36 $35.20 



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Washington Federal, Inc.
Fact Sheet
June 30, 2022
($ in Thousands)
Tangible Common Shareholders' Book ValueAs of 12/21As of 03/22As of 06/22
$ Amount$1,539,379 $1,582,200 $1,610,857 
Per Share23.59 24.23 24.66 
# of Employees2,114 2,138 2,122 
Investments
Available-for-sale:
     Agency MBS$540,344 $597,903 $908,082 
     Other1,405,795 1,311,702 1,242,650 
$1,946,139 $1,909,605 $2,150,732 
Held-to-maturity:
     Agency MBS$326,387 $301,221 $477,884 
$326,387 $301,221 $477,884 
As of 12/21As of 03/22As of 06/22
Loans Receivable by Category AMOUNT % AMOUNT % AMOUNT %
     Multi-Family$2,298,155 13.5%$2,392,810 13.5%$2,494,594 13.2%
     Commercial Real Estate2,681,453 15.82,829,946 15.92,899,057 15.4
     Commercial & Industrial2,373,012 13.92,504,442 14.12,351,030 12.4
     Construction2,967,644 17.43,136,239 17.63,896,740 20.6
     Land - Acquisition & Development225,423 1.3236,313 1.3245,233 1.3
     Single-Family Residential5,295,837 31.15,442,535 30.65,652,897 29.9
     Construction - Custom787,862 4.6836,314 4.7943,858 5.0
     Land - Consumer Lot Loans151,297 0.9154,976 0.9158,485 0.8
     HELOC166,601 1.0174,367 1.0185,427 1.0
     Consumer77,681 0.567,511 0.473,044 0.4
17,024,965 100%17,775,453 100%18,900,365 100%
     Less:
        Allowance for Credit Losses (ACL)171,411 171,384 170,979 
        Loans in Process2,207,880 2,440,430 3,083,573 
        Net Deferred Fees, Costs and Discounts53,472 68,713 80,648 
        Sub-Total2,432,763 2,680,527 3,335,200 
$14,592,202 $15,094,926 $15,565,165 
Net Loan Portfolio by Category AMOUNT % AMOUNT % AMOUNT %
     Multi-Family$2,262,222 15.5%$2,363,194 15.7%$2,466,359 15.8%
     Commercial Real Estate2,641,448 18.12,783,947 18.42,851,695 18.3
     Commercial & Industrial2,318,257 15.92,443,105 16.22,289,122 14.7
     Construction1,210,353 8.31,189,395 7.91,381,376 8.9
     Land - Acquisition & Development187,957 1.3197,375 1.3210,747 1.4
     Single-Family Residential5,256,453 36.05,389,654 35.75,593,232 35.9
     Construction - Custom329,864 2.3340,984 2.3365,485 2.3
     Land - Consumer Lot Loans144,861 1.0148,444 1.0151,856 1.0
     HELOC165,424 1.1173,454 1.1184,836 1.2
     Consumer75,363 0.565,374 0.470,457 0.5
$14,592,202 100%$15,094,926 100%$15,565,165 100%
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Washington Federal, Inc.
Fact Sheet
June 30, 2022
($ in Thousands)
As of 12/21As of 03/22As of 06/22
Loans by State AMOUNT% AMOUNT% AMOUNT%
     Washington$5,392,355 36.5 %$5,316,627 34.8 %$5,269,445 33.5 %
     Idaho722,642 4.9 756,662 5.0 792,013 5.0 
     Oregon2,209,674 15.0 2,261,328 14.8 2,226,233 14.1 
     Utah1,167,328 7.9 1,324,307 8.7 1,452,601 9.2 
     Nevada552,049 3.7 587,905 3.8 644,104 4.1 
     Texas1,728,348 11.7 1,757,484 11.5 1,881,089 12.0 
     Arizona1,769,072 12.0 1,933,569 12.7 2,162,608 13.8 
     New Mexico653,267 4.4 676,837 4.4 686,494 4.4 
     Other568,878 3.9 651,591 4.3 621,557 3.9 
     Total$14,763,613 100%$15,266,310 100%$15,736,144 100%
Non-Performing Assets AMOUNT % AMOUNT % AMOUNT %
Non-accrual loans:
     Multi-Family$— —%$— —%$5,944 16.2%
     Commercial Real Estate7,565 16.86,412 19.15,024 13.7
     Commercial & Industrial15,349 34.24,789 14.24,288 11.7
     Construction611 1.4343 1.0— —
     Land - Acquisition & Development2,340 5.22,340 7.0— —
     Single-Family Residential17,751 39.518,612 55.320,184 55.0
     Construction - Custom465 1.0465 1.4900 2.5
     Land - Consumer Lot Loans544 1.2310 0.9213 0.6
     HELOC276 0.6329 1.091 0.2
     Consumer58 0.139 0.135 0.1
        Total non-accrual loans44,959 100%33,639 100%36,679 100%
Real Estate Owned5,737 9,509 9,656 
Other Property Owned4,094 4,095 4,095 
Total non-performing assets$54,790 $47,243 $50,430 
Non-accrual loans as % of total net loans0.31 %0.22 %0.24 %
Non-performing assets as % of total assets0.27 %0.23 %0.25 %
Net Charge-offs (Recoveries) by Category12/21 QTRCO % (a)03/22 QTRCO % (a)06/22 QTRCO % (a)
Multi-Family$— —%$— —%$— —%
Commercial Real Estate485 0.07(753)(0.11)(23)—
Commercial & Industrial(19)—871 0.1419 —
Construction(2,000)(0.27)(179)(0.02)— —
Land - Acquisition & Development(18)(0.03)(20)(0.03)(10)(0.02)
Single-Family Residential(405)(0.03)(147)(0.01)(252)(0.02)
Construction - Custom— —— —— —
Land - Consumer Lot Loans22 0.06(40)(0.10)(2)(0.01)
HELOC(1)—(100)(0.23)(249)(0.54)
Consumer(175)(0.90)(105)(0.62)(78)(0.43)
Total net charge-offs (recoveries)$(2,111)(0.05)%$(473)(0.01)%$(595)(0.01)%
(a) Annualized Net Charge-offs (recoveries) divided by Gross Balance
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Washington Federal, Inc.
Fact Sheet
June 30, 2022
($ in Thousands)
As of 12/21As of 03/22As of 06/22
Deposits by State AMOUNT%# AMOUNT%# AMOUNT%#
     Washington$6,891,632 43.4 %77 $7,067,961 43.1 %76 $7,040,668 44.1 %76 
     Idaho1,097,962 6.9 22 1,122,007 6.8 22 1,073,221 6.7 22 
     Oregon3,034,176 19.1 39 3,030,152 18.5 36 3,007,716 18.9 36 
     Utah891,221 5.6 9 987,788 6.0 9 772,487 4.9 9 
     Nevada541,184 3.4 11 539,805 3.3 10 525,675 3.3 9 
     Texas498,477 3.1 6 622,118 3.8 6 553,379 3.4 6 
     Arizona1,635,767 10.3 30 1,700,408 10.4 30 1,667,742 10.4 28 
     New Mexico1,311,627 8.2 25 1,320,409 8.1 25 1,324,732 8.3 23 
     Total$15,902,046 100%219 $16,390,648 100%214 $15,965,620 100%209 
Deposits by Type AMOUNT% AMOUNT% AMOUNT%
Non-Interest Checking$3,279,841 20.6 %$3,251,603 19.8 %$3,269,773 20.5 %
Interest Checking3,688,823 23.2 3,897,185 23.8 3,472,402 21.7 
Savings1,043,002 6.6 1,078,147 6.6 1,069,801 6.7 
Money Market4,538,396 28.5 4,912,671 30.0 4,856,275 30.4 
Time Deposits3,351,984 21.1 3,251,042 19.8 3,297,369 20.7 
Total$15,902,046 100%$16,390,648 100%$15,965,620 100%
Deposits greater than $250,000 - EOP$7,551,781 $7,914,122 $7,463,761 
Time Deposit RepricingAmountRateAmountRateAmountRate
Within 3 months$802,888 0.43 %$530,189 0.45 %$850,894 0.42 %
From 4 to 6 months523,979 0.47 %830,454 0.43 %894,688 0.40 %
From 7 to 9 months619,677 0.52 %722,437 0.45 %681,182 0.56 %
From 10 to 12 months727,496 0.45 %591,916 0.41 %327,193 0.53 %
FHLB Advances (Effective Maturity)AmountRateAmountRateAmountRate
Within 1 year$320,000 2.08 %$320,000 2.08 %$500,000 1.95 %
1 to 3 years500,000 2.16 %500,000 2.16 %300,000 1.94 %
3 to 5 years100,000 1.85 %100,000 1.82 %100,000 1.80 %
More than 5 years800,000 0.80 %800,000 0.93 %800,000 0.87 %
Total$1,720,000 $1,720,000 $1,700,000 
Interest Rate Risk
NPV post 200 bps shock (b)14.9 %10.9 %9.2 %
Change in NII after 200 bps shock (b)8.4 %6.0 %3.9 %
(b) Assumes no balance sheet management actions taken.
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Washington Federal, Inc.
Fact Sheet
June 30, 2022
($ in Thousands)


Historical CPR Rates (c)
WAFDWAFD
Average for Quarter Ended:SFR MortgagesGSE MBS
6/30/202028.1 %30.3 %
9/30/202031.2 %42.8 %
12/31/202035.9 %47.2 %
3/31/202136.0 %44.1 %
6/30/202131.8 %42.7 %
9/30/202128.4 %38.3 %
12/31/202125.0 %35.3 %
3/31/202218.4 %28.6 %
6/30/202213.1 %20.9 %
(c) The CPR Rate (conditional payment rate) is the rate that is equal to the proportion of the principal of a pool of loans that is paid off prematurely in each period.

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Washington Federal, Inc.
Fact Sheet
June 30, 2022
Average Balance Sheet
($ in Thousands)
Quarter Ended
December 31, 2021March 31, 2022June 30, 2022
AverageAverageAverageAverageAverageAverage
BalanceInterestRateBalanceInterestRateBalanceInterestRate
Assets
Loans receivable$14,297,907 $138,509 3.84 %$14,869,733 $139,260 3.80 %$15,350,905 $149,113 3.90 %
Mortgage-backed securities925,028 4,792 2.06 852,134 4,659 2.22 1,416,212 8,618 2.44 
Cash & investments3,207,877 5,783 0.72 3,085,239 5,757 0.76 2,056,387 8,281 1.62 
FHLB & FRB Stock102,863 1,356 5.23 89,002 1,162 5.29 78,305 1,136 5.82 
Total interest-earning assets18,533,675 150,440 3.22 %18,896,108 150,838 3.24 %18,901,809 167,148 3.55 %
Other assets1,272,163 1,284,929 1,383,146 
Total assets$19,805,838 $20,181,037 $20,284,955 
Liabilities and Shareholders' Equity
Interest-bearing customer accounts$12,530,492 8,461 0.27 %$12,882,885 8,225 0.26 %$12,852,849 9,284 0.29 %
FHLB advances1,720,000 7,843 1.81 1,720,000 7,525 1.77 1,705,824 6,118 1.44 
Total interest-bearing liabilities14,250,492 16,304 0.45 %14,602,885 15,750 0.44 %14,558,673 15,402 0.42 %
Noninterest-bearing customer accounts3,188,223 3,198,052 3,278,346 
Other liabilities223,421 214,851 238,842 
Total liabilities17,662,136 18,015,788 18,075,861 
Stockholders’ equity2,143,702 2,165,249 2,209,094 
Total liabilities and equity$19,805,838 $20,181,037 $20,284,955 
Net interest income/interest rate spread$134,136 2.77 %$135,088 2.80 %$151,746 3.12 %
Net interest margin (1)2.87 %2.90 %3.22 %
(1) Annualized net interest income divided by average interest-earning assets

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Washington Federal, Inc.
Fact Sheet
June 30, 2022
Delinquency Summary
($ in Thousands)
TYPE OF LOANS# OF LOANS% based% based
 #LOANSAVG SizeLOANS AMORTIZED COST306090Totalon #$ Delinquenton $
June 30, 2022
     Multi-Family1,124 2,205 $2,478,932 — — — — — %$— — %
     Commercial Real Estate1,183 2,432 2,876,995 — — 5 5 0.42 351 0.01 
     Commercial & Industrial (1)2,506 935 2,344,046 5 6 28 39 1.56 16,421 0.70 
     Construction719 1,957 1,407,211 — — — — — — — 
     Land - Acquisition & Development125 1,784 222,974 — — — — — — — 
     Single-Family Residential19,115 294 5,619,448 22 7 69 98 0.51 22,189 0.39 
     Construction - Custom1,263 292 368,839 — — 2 2 0.16 900 0.24 
     Land - Consumer Lot Loans1,312 120 157,076 1 — 2 3 0.23 383 0.24 
     HELOC3,665 51 187,469 3 3 4 10 0.27 202 0.11 
     Consumer2,117 35 73,154 8 1 11 20 0.94 252 0.34 
33,129 475 $15,736,144 39 17 121 177 0.53 %$40,698 0.26 %
March 31, 2022
     Multi-Family1,136 2,093 $2,377,657 1 — — 1 0.09 %$310 0.01 %
     Commercial Real Estate1,180 2,380 2,808,628 4 — 5 9 0.76 3,902 0.14 
     Commercial & Industrial2,961 843 2,497,008 21 6 63 90 3.04 15,545 0.62 
     Construction659 1,839 1,212,103 — — — — — — — 
     Land - Acquisition & Development139 1,518 211,061 — — 1 1 0.72 2,340 1.11 
     Single-Family Residential18,796 288 5,418,645 29 18 67 114 0.61 21,264 0.39 
     Construction - Custom1,174 293 344,113 1 — 1 2 0.17 900 0.26 
     Land - Consumer Lot Loans1,321 116 153,549 2 1 5 8 0.61 377 0.25 
     HELOC3,520 50 175,929 5 1 7 13 0.37 672 0.38 
     Consumer2,201 31 67,617 9 3 7 19 0.86 96 0.14 
33,087 461 $15,266,310 72 29 156 257 0.78 %$45,406 0.30 %
December 31, 2021
     Multi-Family1,120 2,034 $2,278,216 — — — — — %$— — %
     Commercial Real Estate1,072 2,488 2,667,170 3 — 6 9 0.84 3,729 0.14 
     Commercial & Industrial3,753 630 2,365,487 32 42 208 282 7.51 17,402 0.74 
     Construction680 1,816 1,235,119 — — — — — — — 
     Land - Acquisition & Development114 1,773 202,081 — — 1 1 0.88 2,340 1.16 
     Single-Family Residential18,711 283 5,286,559 35 7 63 105 0.56 20,416 0.39 
     Construction - Custom1,175 284 333,583 — — 1 1 0.09 465 0.14 
     Land - Consumer Lot Loans1,312 114 149,845 1 1 6 8 0.61 652 0.44 
     HELOC3,403 49 167,789 6 7 13 0.38 516 0.31 
     Consumer2,308 34 77,764 16 7 12 35 1.52 234 0.30 
33,648 439 $14,763,613 93 57 304 454 1.35 %$45,754 0.31 %

(1) Includes 399 SBA PPP loans with a balance of $54,185.
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