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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