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Wafd Bank

Seattle, WA · Cert 28088 · Wafd Inc.

State charter, non-member · FDIC · 212 branches

Q2 2026

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks over $10B in assets3

Basis

Quarter: Q2 2026, the quarter ended June 30, 2026, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

Banks over $10B in assets (n=142 to 144). Each measure ranks only the institutions that reported it, so n varies by measure.

Peer groups below the disclosure floor are suppressed.

Peer Standing

Trailing 9 quarters, through Q2 2026

Capital

48

Q2 2024Q2 2026Peer median (50)

Asset Quality

75

Q2 2024Q2 2026Peer median (50)

Profitability

22

Q2 2024Q2 2026Peer median (50)

Liquidity

22

Q2 2024Q2 2026Peer median (100)

Efficiency

62

Q2 2024Q2 2026Peer median (50)

Growth

No peer data yet

Capital, Asset Quality, Profitability, Efficiency: higher is a stronger peer standing, and the peer median is fixed at 50. Liquidity, Growth: closeness to the peer median, 100 at the median.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-12

Wafd Bank

Seattle, WA · Cert 28088 · Wafd Inc.

State charter, non-member · FDIC · 212 branches

Q2 2026

$27.6BAssets
$20.2BLoans
$21.1BDeposits
$3.0BEquity
Loan mix
90%RE $18.0B10%C&I $2.0B0%Consumer $0.1BQ3 2024Q2 2026
Deposit mix
87%Interest-bearing $18.3B13%Noninterest $2.8BQ3 2024Q2 2026

Market Position · Seattle-Tacoma-Bellevue, WA · 2026 SOD (annual) · 4.5% share · #7 of 43 inst. · $6.4B of $143.1B

5.5% King
0.4% Los Angeles
5.6% Sonoma
5.3% Bernalillo

Executive Summary

  • Earnings: ROA of 0.99%, up 10 bps year over year; NIM at 2.69%.
  • Asset quality: problem loans at 0.63% of loans (+23 bps YoY), with net charge-offs at 0.02%.
  • Capital: tier 1 leverage ratio of 9.21%, down 28 bps from a year ago.
  • Funding: loans stand at 96.13% of deposits as of Q2 2026.

Return on Assets (YTD, annualized)

0.99%+10 bps YoY

Net Interest Margin (YTD, annualized)

2.69%+15 bps YoY

Efficiency Ratio (YTD, annualized)

52.58%-248 bps YoY

Tier 1 Leverage Ratio

9.21%-28 bps YoY

NIM

4.78%Q2 ’245.00%Q2 ’254.79%Q2 ’26+9%+6%

Non-interest income vs. expense

1.62%Q2 ’241.54%Q2 ’251.56%Q2 ’26-9%-1%

Year to date, annualized, through each quarter.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.73%0.73%0.84%0.89%0.89%0.91%0.99%0.99%+10 bps
Return on Equity7.01%6.93%7.72%8.05%8.03%8.21%8.98%8.98%+93 bps
Net Interest Margin2.51%2.50%2.43%2.54%2.60%2.58%2.69%2.69%+15 bps
Efficiency Ratio60.76%61.03%55.95%55.06%55.05%54.50%53.36%52.58%-248 bps
Non-Interest Burden1.46%1.46%1.27%1.30%1.33%1.31%1.33%1.29%-1 bps
Growth
Asset Growth (YoY)24.88%22.24%-8.32%-6.46%-4.88%-1.45%-0.28%3.21%+967 bps
Loan Growth (YoY)19.65%19.73%-11.94%-4.96%-3.95%-5.74%-4.52%-1.20%+376 bps
Deposit Growth (YoY)32.48%33.35%0.24%0.70%0.28%-0.28%-1.61%-2.15%-285 bps
Asset Quality
Nonperforming Loans / Loans0.33%0.34%0.28%0.40%0.63%0.95%0.61%0.63%+23 bps
Net Charge-Offs / Loans0.01%0.01%0.10%0.10%0.08%0.08%0.01%0.02%-8 bps
Allowance / Loans0.96%0.96%0.96%0.97%0.98%1.00%1.00%1.06%+9 bps
Allowance Coverage of NPLs2.9x2.8x3.4x2.4x1.6x1.0x1.6x1.7x-0.7x
Capital
Tier 1 Leverage Ratio8.94%9.12%9.21%9.49%9.61%9.55%9.17%9.21%-28 bps
Total Risk-Based Capital14.08%14.10%14.19%14.58%14.55%14.60%14.19%14.14%-44 bps
Equity / Assets10.73%10.87%10.94%11.33%11.40%11.20%10.88%10.98%-35 bps
Liquidity & Funding
Loans / Deposits98.14%98.64%97.87%95.20%94.01%93.24%94.97%96.13%+92 bps
Liquid Assets / Assets9.48%6.74%5.70%4.26%4.28%4.91%4.56%4.96%+71 bps
CRE / Total Capitaln/an/an/an/a404%400%411%n/an/a

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas. Income-statement figures are year-to-date as filed, annualized (the UBPR convention). Each quarter includes the ones before it.

CallReports · callreports.ai· Performance TrendsGenerated 2026-10-12

Wafd Bank

Seattle, WA · Cert 28088 · Peer group: banks over $10B in assets (n=142-144) · Wafd Inc.

State charter, non-member · FDIC · 212 branches

Q2 2026

$27.6BAssets
$20.2BLoans
$21.1BDeposits
$3.0BEquity

Executive Summary

  • Strongest standing: net charge-offs / loans outperforms 90% of banks over $10B in assets (rank 15 of 142).
  • Widest gap: net interest margin trails 83% of banks over $10B in assets (rank 119 of 144).
  • Overall: at or above the peer median on 4 of 9 directional measures.

Return on Assets

0.99%

Rank 111 of 144

Net Interest Margin

2.69%

Rank 119 of 144

Efficiency Ratio

53.53%

Rank 56 of 144

Equity / Assets

10.98%

Rank 81 of 144

Non-interest income vs. expense

$75.2M$431.4MINCOMEEXPENSE
Unfavorable gap of $356.2M · efficiency ratio beats 62% of banks over $10B in assets
Bank 53.53%Peer median 56.0%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRank8-Qtr TrendPeer Position
Earnings
Return on Assets0.99%1.00%1.26%1.54%Beats 23%111 / 144
Return on Equity8.98%8.98%11.34%14.40%Beats 25%108 / 144
Net Interest Margin2.69%2.82%3.31%3.68%Beats 17%119 / 144
Efficiency Ratio53.53%49.42%56.02%62.41%Beats 62%56 / 144
Asset Quality
Nonperforming Loans / Loans0.63%0.48%0.73%1.07%Beats 60%58 / 142
Net Charge-Offs / Loans0.02%0.05%0.11%0.22%Beats 90%15 / 142
Capital
Tier 1 Capital Ratio12.95%12.07%12.98%14.92%Beats 49%73 / 144
Total Risk-Based Capital Ratio14.14%13.39%14.14%16.25%Beats 50%72 / 144
Equity / Assets10.98%9.69%11.39%12.96%Beats 44%81 / 144
Liquidity & Funding
Loans / Deposits96.13%75.72%84.92%91.56%87th pctl19 / 143
Loans / Assets73.38%59.83%69.07%74.80%68th pctl46 / 144
Brokered Deposits / Depositsn/aNot reported for this institution