WaFd(NASDAQ) WAFD

WaFd, Inc. helps people and businesses manage their money. It provides loans and bank accounts to customers across nine states. The bank also serves builders and developers in the real estate market.

A Look at the Menu

• Commercial Loans: Funding for multi-family housing, real estate, and industrial projects; represented 64.0% of gross loans.
• Consumer Loans: Mortgages and home equity lines for families and individuals; comprised 36.0% of gross loans.
• Banking Accounts: Checking, savings, and money market options for retail and business clients.
• Insurance Services: Coverage products for consumers and businesses provided through a specialized subsidiary.

Making Moves and Growing

• Merged with Luther Burbank Corporation on March 1, 2024.
• Formally changed its name to WaFd Bank on Sept. 25, 2025.
• Expanded into the California market to diversify its regional footprint.
• Began exiting the single-family mortgage market to reallocate capital to commercial lending.

What Makes the Bank Different?

WaFd operates a branch network spanning nine Western states including Washington, Texas, and California. The bank maintains a strong capital position with a Tier 1 leverage ratio of 9.19% as of June 30, 2026.

By the Numbers

• Net interest income was $181.3 million in the quarter ended June 30, 2026, up $13.4 million year over year.
• Total assets grew to $27.6 billion at June 30, 2026, up $897.3 million from Sept. 30, 2025.
• Net income reached $195.9 million for the nine-month period ended June 30, 2026.
• Market capitalization rose 21.2% year over year to $2.8 billion in Q3 2026.

Bottom Line

WaFd has evolved from a local thrift into a regional commercial bank serving the Western United States. Its shift toward business lending and diversified deposits marks a significant change in its operational focus.