Washington Federal

WaFd Bank, the operating subsidiary of WaFd Inc., is a regional bank that serves consumers, small businesses, and commercial clients across the western United States. The bank focuses on everyday deposit accounts, residential and commercial real estate loans, construction and land acquisition financing, and treasury and digital services for operating businesses. As of September 2025, WaFd Bank operates 201 branches across eight states, giving it a visible presence in key metros and growth corridors in the Pacific Northwest, Mountain West, and Southwest.

The company’s history goes back to 1917, when it opened in Seattle as a local savings and loan association focused on taking deposits and helping nearby residents buy homes. Over the decades, it gradually shifted from a thrift model to a broader commercial bank while keeping real estate lending at the center of its business. A pivotal moment came in 1982, when the holding company, now known as WaFd Inc., listed on Nasdaq. Becoming a public company provided the capital needed to expand, acquire other banks, and move from a single-state institution to a regional platform. The brand has since evolved from the original Washington Federal name to WaFd Bank, reflecting a footprint that extends well beyond Washington.

In the last five years, WaFd has continued to build out its network and lending franchise across the western states. Growth has come from a mix of opening new branches and acquiring other community and regional banks. A recent example is the 2024 acquisition of Luther Burbank Corporation, which added deposits and loan relationships and gave WaFd a stronger foothold in California real estate markets. Management has emphasized steady, disciplined expansion in markets where it can build scale, including Seattle–Tacoma, Portland, Boise, Salt Lake City, Phoenix, Las Vegas, and the broader Dallas–Fort Worth and Albuquerque areas.

As of late 2025, WaFd Bank’s branch system stretches across Washington, Oregon, Idaho, Utah, Nevada, Arizona, New Mexico, and Texas. Stores are typically neighborhood or community branches in grocery-anchored centers, mixed-use projects, traditional office settings, and freestanding suburban sites with strong traffic and visibility. The bank continues to invest in its digital channels while maintaining a physical network in established trade areas, especially locations that serve small businesses, professional practices, and households that still value in-person banking.

For landlords, brokers, and developers, WaFd Bank represents a long-tenured, publicly traded financial institution with a steady approach to physical expansion. Its real estate focus, relationship-based banking model, and measured growth posture translate into ongoing interest in replacement branches, relocations within existing trade areas, and selective new sites in infill and growth corridors across its western footprint.