WAFD INC

The bank was founded on April 24, 1917 in Ballard, Washington as Ballard Savings and Loan by a group of businessmen. In 1958, it merged with Washington Federal Savings and Loan Association of Bothell. The bank took the name Washington Federal for "wider geographical acceptance".

The bank demutualized in 1982 and the present holding company structure was adopted in 1995.

In 2019, the bank was rebranded as WaFd Bank (pronounced Wah-Fed), a long-used nickname for the bank.

In January 2025, WaFd Bank announced it would exit mortgage lending after more than a century in the market, citing rising regulatory burdens and limited profitability, and refocus its business model on small business banking and commercial lending.

In September 2026, WaFd, Inc. announced an agreement to merge with EverBank Financial Corp. in a deal valued at approximately US$3.9 billion. The combined bank is expected to be led by Greg Seibly as chief executive officer and Brent Beardall as president, subject to completion of the transaction and regulatory approvals.

Acquisitions

Seattle Federal Savings and Loan, 1971

First Federal Savings and Loan Association, Mount Vernon, Washington, 1978

United First Federal, Boise, Idaho, 1987

Provident Federal Savings and Loan, Boise, 1987

Northwest Federal Savings and Loan, Boise, 1988

Freedom Federal Savings and Loan, Corvallis, Oregon, 1988

Family Federal Savings and Loan Association, Dallas, Oregon, 1990

First Federal Savings and Loan Association, Idaho Falls, Idaho, 1991

Metropolitan Savings Association, Portland and Eugene, Oregon, 1991

First Federal Savings Bank, Salt Lake City, 1993

West Coast Mutual Savings Bank, Centralia, Washington, 1996

Metropolitan Bancorp, Seattle, November 29, 1996

United Savings and Loan Bank (4 branches, based in Seattle) for $65 million in 2003. Founded on July 6, 1960, it was the first savings and loan owned by Asian Americans.

First Mutual Bank, Bellevue, Washington, 2008

Horizon Bank (18 branches), seized by the Federal Deposit Insurance Corporation after bank failure, Bellingham, Washington, 2010

Charter Bank, 6 branches, Albuquerque, New Mexico, 2011

South Valley Bancorp Inc., Klamath Falls, Oregon, 2012

51 branches from Bank of America in Washington, Oregon, Idaho, and New Mexico, 2013

23 branches from Bank of America in Arizona and Nevada, 2014

Luther Burbank Savings in California and Washington, March 2024.