Washington Federal (WAFD) 8-K Washington Federal Reports Earnings Per Share Of $2.26 For Fiscal 2020

Exhibit 99.2

Washington Federal, Inc.

Fact Sheet

September 30, 2020

($ in Thousands)

	As of 03/20						As of 06/20						As of 09/20
Allowance for Credit Losses (ACL) - Total	$	175,751					$	184,849					$	191,955
ACL - Loans	157,101						165,349						166,955
ACL Unfunded Commitments	18,650						19,500						25,000
Total ACL as a % of Gross Loans	1.31		%				1.29		%				1.33		%
	03/20 QTR			03/20 YTD			06/20 QTR			06/20 YTD			09/20 QTR			09/20 YTD
Loan Originations - Total	$	1,236,664		$	2,607,979		$	2,117,035		$	4,725,014		$	1,495,586		$	6,220,600
Multi-Family	127,289			214,018			118,060			332,078			71,040			403,118
Commercial Real Estate	106,906			179,933			55,845			235,778			230,544			466,322
Commercial & Industrial	347,969			761,584			1,143,166			1,904,750			264,158			2,168,908
Construction	338,748			771,192			294,063			1,065,255			392,347			1,457,602
Land - Acquisition & Development	12,796			53,488			14,695			68,183			20,196			88,379
Single-Family Residential	149,076			316,220			308,571			624,791			285,780			910,571
Construction - Custom	117,313			241,299			149,265			390,564			185,778			576,342
Land - Consumer Lot Loans	10,771			21,786			12,768			34,554			17,124			51,678
HELOC	24,864			46,975			20,190			67,165			26,120			93,285
Consumer	932			1,484			412			1,896			2,499			4,395
Purchased Loans (including acquisitions)	$	—		$	—		$	15,456		$	15,456		$	—		$	15,456
Net Loan Fee and Discount Accretion	$	4,918		$	9,843		$	7,204		$	17,047		$	8,013		$	25,060
Repayments
Loans	$	1,203,182		$	2,504,601		$	1,248,747		$	3,753,348		$	1,343,274		$	5,096,622
MBS	120,852			263,361			179,121			442,482			237,234			679,716
MBS Net Premium Amortization	$	2,292		$	4,827		$	3,250		$	8,077		$	3,890		$	11,967
Efficiency
Operating Expenses/Average Assets	1.94		%	1.98		%	1.68		%	1.87		%	1.69		%	1.82		%
Efficiency Ratio (%) (a)	59.34		%	58.19		%	57.65		%	58.02		%	62.09		%	58.99		%
Amortization of Intangibles	$	552		$	1,047		$	552		$	1,599		$	552		$	2,151
(a) Efficiency ratios for the year to date periods exclude the impact of $31.6 million gain on sales of fixed assets and $5.9 million impairment charge on computer hardware and software.
EOP Numbers
Shares Issued and Outstanding	75,706,100						75,706,026						75,689,364
Share repurchase information
Remaining shares authorized for repurchase	4,628,987						4,627,393						4,627,231
Shares repurchased	2,423,613			3,337,774			1,594			3,339,368			162			3,339,530
Average share repurchase price	$	32.43		$	33.58		$	24.90		$	33.58		$	23.34		$	33.58

1

Washington Federal, Inc.

Fact Sheet

September 30, 2020

($ in Thousands)

Tangible Common Book Value	As of 03/20			As of 06/20			As of 09/20
$ Amount	$	1,653,635		$	1,680,051		$	1,704,227
Per Share	21.84			22.19			22.52
# of Employees	2,060			2,062			2,080
Investments
Available-For-Sale:
Agency MBS	$	1,073,165		$	1,034,014		$	968,252
Other	619,882			1,029,946			1,281,240
	$	1,693,047		$	2,063,960		$	2,249,492
Held-To-Maturity:
Agency MBS	$	920,255		$	827,316		$	705,838
	$	920,255		$	827,316		$	705,838
	As of 03/31/20					As of 06/30/20				As of 09/30/20
Loans Receivable by Category	AMOUNT		%	AMOUNT		%	AMOUNT		%
Multi-Family	$	1,467,231	10.9%	$	1,510,099	10.6%	$	1,538,762	10.6%
Commercial Real Estate	1,717,535		12.8	1,707,893		11.9	1,895,086		13.1
Commercial & Industrial	1,371,128		10.2	2,158,000		15.1	2,132,160		14.7
Construction	2,204,283		16.4	2,328,987		16.3	2,403,276		16.6
Land - Acquisition & Development	197,010		1.5	195,212		1.4	193,745		1.3
Single-Family Residential	5,582,244		41.5	5,461,605		38.2	5,304,689		36.7
Construction - Custom	547,731		4.1	607,329		4.2	674,879		4.7
Land - Consumer Lot Loans	96,579		0.7	100,102		0.7	102,263		0.7
HELOC	145,761		1.1	140,636		1.0	139,703		1.0
Consumer	105,147		0.8	91,495		0.6	83,159		0.6
	13,434,649		100%	14,301,358		100%	14,467,722		100%
Less:
Allowance	157,101			165,349			166,955
Loans in Process	1,289,812			1,353,774			1,456,072
Net Deferred Fees, Costs and Discounts	31,095			48,809			52,378
Sub-Total	1,478,008			1,567,932			1,675,405
	$	11,956,641		$	12,733,426		$	12,792,317
Net Loan Portfolio by Category	AMOUNT		%	AMOUNT		%	AMOUNT		%
Multi-Family	$	1,455,688	12.2%	$	1,497,749	11.7%	$	1,524,387	11.9%
Commercial Real Estate	1,707,894		14.3	1,684,761		13.2	1,862,173		14.6
Commercial & Industrial	1,321,271		11.0	2,095,768		16.5	2,076,848		16.2
Construction	1,206,794		10.1	1,309,255		10.3	1,328,258		10.4
Land - Acquisition & Development	141,519		1.2	141,592		1.1	142,838		1.1
Single-Family Residential	5,522,027		46.2	5,405,783		42.4	5,248,774		41.0
Construction - Custom	262,381		2.2	274,846		2.2	292,398		2.3
Land - Consumer Lot Loans	93,251		0.8	96,584		0.8	98,665		0.8
HELOC	144,036		1.2	138,578		1.1	137,652		1.1
Consumer	101,780		0.8	88,510		0.7	80,324		0.6
	$	11,956,641	100%	$	12,733,426	100%	$	12,792,317	100%

2

Washington Federal, Inc.

Fact Sheet

September 30, 2020

($ in Thousands)

	As of 03/31/20									As of 06/30/20								As of 09/30/20
Deposits by State	AMOUNT			%		#	AMOUNT			%		#	AMOUNT			%		#
Washington	$	5,418,762		44.8	%	80	$	5,789,748		44.2	%	80	$	5,914,476		42.9	%	80
Idaho	873,164			7.2		24	918,614			7.0		24	949,920			6.9		24
Oregon	2,436,763			20.2		46	2,591,126			19.8		46	2,627,720			19.1		46
Utah	318,227			2.6		10	576,795			4.4		10	988,498			7.2		10
Nevada	399,659			3.3		11	440,065			3.4		11	442,772			3.2		11
Texas	174,066			1.4		6	220,979			1.7		6	225,819			1.6		6
Arizona	1,401,451			11.6		31	1,429,184			10.9		31	1,481,603			10.8		31
New Mexico	1,066,328			8.8		26	1,143,083			8.7		26	1,148,816			8.3		26
Total	$	12,088,420		100%		234	$	13,109,594		100%		234	$	13,779,624		100%		234
Deposits by Type	AMOUNT			%			AMOUNT			%			AMOUNT			%
Non-Interest Checking	$	1,664,707		13.8	%		$	2,235,689		17.1	%		$	2,164,071		15.7	%
Interest Checking	2,210,387			18.3			2,410,041			18.4			3,029,576			22.0
Savings	759,604			6.3			832,383			6.3			872,087			6.3
Money Market	3,029,341			25.0			3,422,335			26.1			3,740,698			27.1
Time Deposits	4,424,381			36.6			4,209,146			32.1			3,973,192			28.9
Total	$	12,088,420		100%			$	13,109,594		100%			$	13,779,624		100%
Deposits greater than $250,000 - EOP	$	3,953,908					$	4,781,447					$	5,491,395
Time Deposit Repricing	Amount			Rate			Amount			Rate			Amount			Rate
Within 3 months	$	925,549		1.79	%		$	925,920		1.78	%		$	1,178,602		1.27	%
From 4 to 6 months	927,835			1.79	%		1,192,090			1.29	%		1,282,051			1.14	%
From 7 to 9 months	875,111			1.61	%		919,329			1.47	%		371,896			0.78	%
From 10 to 12 months	809,660			1.61	%		262,359			0.95	%		235,286			0.70	%
Non-Performing Assets	AMOUNT			%			AMOUNT			%			AMOUNT			%
Non-Accrual Loans:
Multi-Family	$	—		—%			$	224		0.6%			$	—		—%
Commercial Real Estate	4,374			13.4			3,416			9.7			3,771			13.0
Commercial & Industrial	470			1.4			1,847			5.3			329			1.1
Construction	3,353			10.3			3,353			9.6			1,669			5.8
Land - Acquisition & Development	82			0.3			78			0.2			—			—
Single-Family Residential	22,859			70.1			24,876			71.1			22,431			77.2
Construction - Custom	—			—			—			—			—			—
Land - Consumer Lot Loans	408			1.2			277			0.8			243			0.8
HELOC	1,064			3.3			866			2.5			553			1.9
Consumer	—			—			64			0.2			60			0.2
Total non-accrual loans	32,610			100%			35,001			100%			29,056			100%
Real Estate Owned	5,463						5,956						4,966
Other Property Owned	3,314						3,673						3,673
Total Non-Performing Assets	$	41,387					$	44,630					$	37,695
Non-performing loans as % of total net loans	0.27		%				0.27		%				0.23		%
Non-performing assets as % of total assets	0.24		%				0.25		%				0.20		%

3

Washington Federal, Inc.

Fact Sheet

September 30, 2020

($ in Thousands)

	As of 03/31/20						As of 06/30/20						As of 09/30/20
	AMOUNT		%		AMOUNT		%		AMOUNT		%
Restructured loans:
Multi-Family	$	316	0.3%		$	310	0.3%		$	304	0.3%
Commercial Real Estate	1,883		1.8		1,849		1.9		1,462		1.6
Commercial & Industrial	396		0.4		433		0.4		51		0.1
Construction	—		—		—		—		—		—
Land - Acquisition & Development	82		0.1		78		0.1		—		—
Single-Family Residential	97,025		93.2		91,290		93.1		85,607		93.6
Construction - Custom	—		—		—		—		—		—
Land - Consumer Lot Loans	3,418		3.3		3,206		3.3		3,106		3.4
HELOC	843		0.8		835		0.9		826		0.9
Consumer	56		0.1		55		0.1		52		0.1
Total restructured loans	$	104,019	100%		$	98,056	100%		$	91,408	100%
Restructured loans were as follows:
Performing	$	101,076	97.2%		$	95,093	97.0%		$	89,072	97.4%
Non-performing (b)	2,943		2.8		2,963		3.0		2,336		2.6
Total restructured loans	$	104,019	100%		$	98,056	100%		$	91,408	100%
(b) Included in "Total non-accrual loans" above
	AMOUNT		CO % (c)		AMOUNT		CO % (c)		AMOUNT		CO % (c)
Net Charge-offs (Recoveries) by Category
Multi-Family	$	—	—%		$	—	—%		$	—	—%
Commercial Real Estate	(1,007)		(0.23)		(193)		(0.05)		(866)		(0.18)
Commercial & Industrial	72		0.02		2,860		0.53		915		0.17
Construction	(5)		—		—		—		(129)		(0.02)
Land - Acquisition & Development	(126)		(0.26)		(433)		(0.89)		(51)		(0.11)
Single-Family Residential	(192)		(0.01)		(377)		(0.03)		(447)		(0.03)
Construction - Custom	—		—		—		—		—		—
Land - Consumer Lot Loans	(399)		(1.65)		(17)		(0.07)		(46)		(0.18)
HELOC	(1)		—		(1)		—		(1)		—
Consumer	(130)		(0.49)		(137)		(0.60)		19		0.09
Total net charge-offs (recoveries)	$	(1,788)	(0.05)%		$	1,702	0.05%		$	(606)	(0.02)%
(c) Annualized Net Charge-offs (recoveries) divided by Gross Balance
FHLB Advances (Effective Maturity)	Amount		Rate		Amount		Rate		Amount		Rate
Within 1 year	$	450,000	1.51	%	$	300,000	1.59	%	$	630,000	2.69	%
1 to 3 years	850,000		2.49	%	950,000		2.72	%	520,000		2.21	%
3 to 5 years	650,000		2.20	%	450,000		2.29	%	450,000		2.29	%
More than 5 years	1,100,000		(0.05)	%	1,100,000		0.08	%	1,100,000		0.87	%
Total	$	3,050,000			$	2,800,000			$	2,700,000
Interest Rate Risk
NPV post 200 bps shock (d)			12.1	%			14.8	%			15.6	%
Change in NII after 200 bps shock (d)			1.9	%			3.0	%			3.4	%
(d) Assumes no balance sheet management actions taken

4

Washington Federal, Inc.

Fact Sheet

September 30, 2020

($ in Thousands)

Historical CPR Rates (e)
	WAFD		WAFD
Average for Quarter Ended:	SFR Mortgages		GSE MBS
9/30/2018	12.3	%	12.0	%
12/31/2018	10.4	%	10.3	%
3/31/2019	9.3	%	9.4	%
6/30/2019	13.8	%	11.4	%
9/30/2019	18.2	%	16.9	%
12/31/2019	22.0	%	21.7	%
3/31/2020	19.8	%	19.7	%
6/30/2020	28.1	%	30.3	%
9/30/2020	31.2	%	42.8	%
(e) The CPR Rate (conditional payment rate) is the rate that is equal to the proportion of the principal of a pool of loans that is paid off prematurely in each period.

5

Washington Federal, Inc.

Fact Sheet

September 30, 2020

Average Balance Sheet

($ in Thousands)

	Quarter Ended
	March 31, 2020										June 30, 2020								September 30, 2020
	Average				Average		Average				Average		Average				Average
	Balance		Interest		Rate		Balance		Interest		Rate		Balance		Interest		Rate
Assets
Loans receivable	$	11,890,545	$	138,549	4.67	%	$	12,470,825	$	132,847	4.27	%	$	12,777,706	$	132,165	4.10	%
Mortgage-backed securities	2,194,479		14,341		2.62		1,931,826		10,843		2.25		1,756,588		8,516		1.92
Cash & investments	951,719		5,281		2.23		2,093,965		4,696		0.90		2,526,684		4,710		0.74
FHLB & FRB Stock	122,320		1,447		4.74		152,122		1,322		3.49		142,207		1,723		4.81
Total interest-earning assets	15,159,063		159,618		4.22	%	16,648,738		149,708		3.61	%	17,203,185		147,114		3.39	%
Other assets	1,204,060						1,294,675						1,327,413
Total assets	$	16,363,123					$	17,943,413					$	18,530,598
Liabilities and Equity
Interest-bearing customer accounts	10,309,374		28,638		1.11	%	10,692,697		21,393		0.80	%	11,335,819		18,800		0.66	%
FHLB advances	2,208,242		13,368		2.43		2,953,297		10,938		1.49		2,705,435		13,482		1.98
Other borrowings	77		—		—		—		—		—		—		—		—
Total interest-bearing liabilities	12,517,693		42,006		1.35	%	13,645,994		32,331		0.95	%	14,041,254		32,282		0.91	%
Noninterest-bearing customer accounts	1,610,077						2,045,305						2,182,773
Other liabilities	212,129						262,108						295,544
Total liabilities	14,339,899						15,953,407						16,519,571
Stockholders’ equity	2,023,224						1,990,006						2,011,027
Total liabilities and equity	$	16,363,123					$	17,943,413					$	18,530,598
Net interest income			$	117,612					$	117,377					$	114,832
Net interest margin (1)					3.10	%					2.82	%					2.67	%
(1) Annualized net interest income divided by average interest-earning assets

6

Washington Federal, Inc.

Fact Sheet

September 30, 2020

Delinquency Summary

($ in Thousands)

			AMOUNT OF LOANS		# OF LOANS										% based	% based
TYPE OF LOANS	#LOANS	AVG Size	NET OF LIP & CHG-OFFs		30	60	90	Total	on #		$ Delinquent		on $
September 30, 2020
Multi-Family	1,103	1,395	$	1,538,240	—	—	—	—	—	%	$	—	—	%
Commercial Real Estate	1,103	1,709	1,884,688		—	1	2	3	0.27		478		0.03
Commercial & Industrial	8,629	245	2,115,513		—	2	4	6	0.07		863		0.04
Construction	549	2,463	1,352,414		—	—	2	2	0.36		1,662		0.12
Land - Acquisition & Development	122	1,259	153,571		—	—	—	—	—		—		—
Single-Family Residential	21,918	242	5,293,962		30	13	99	142	0.65		26,354		0.50
Construction - Custom	1,161	255	295,953		—	—	—	—	—		—		—
Land - Consumer Lot Loans	1,123	90	101,394		1	—	3	4	0.36		365		0.36
HELOC	3,090	45	140,222		10	4	9	23	0.74		731		0.52
Consumer	2,825	29	83,315		22	5	21	48	1.70		356		0.43
	41,623	311	$	12,959,272	63	25	140	228	0.55	%	$	30,809	0.24	%
June 30, 2020
Multi-Family	1,091	1,384	$	1,509,837	—	—	1	1	0.09	%	$	224	0.01	%
Commercial Real Estate	1,101	1,545	1,700,568		1	1	6	8	0.73		3,266		0.19
Commercial & Industrial	8,524	251	2,138,462		—	7	11	18	0.21		3,736		0.17
Construction	556	2,401	1,334,948		—	—	2	2	0.36		3,353		0.25
Land - Acquisition & Development	118	1,290	152,234		—	—	—	—	—		—		—
Single-Family Residential	22,746	240	5,452,424		27	25	93	145	0.64		29,122		0.53
Construction - Custom	1,069	260	278,182		—	—	—	—	—		—		—
Land - Consumer Lot Loans	1,117	89	99,255		3	2	5	10	0.90		482		0.49
HELOC	3,042	46	141,165		4	1	12	17	0.56		720		0.51
Consumer	2,952	31	91,700		23	25	13	61	2.07		702		0.77
	42,316	305	$	12,898,775	58	61	143	262	0.62	%	$	41,605	0.32	%
March 31, 2020
Multi-Family	1,103	1,330	$	1,467,430	1	—	—	1	0.09	%	$	356	0.02	%
Commercial Real Estate	1,107	1,556	1,722,533		2	3	5	10	0.90		4,642		0.27
Commercial & Industrial	1,824	746	1,359,847		16	—	7	23	1.26		2,273		0.17
Construction	529	2,325	1,230,142		—	—	2	2	0.38		3,353		0.27
Land - Acquisition & Development	115	1,321	151,919		1	—	—	1	0.87		394		0.26
Single-Family Residential	23,347	239	5,568,843		40	20	74	134	0.57		26,182		0.47
Construction - Custom	993	267	265,556		—	—	—	—	—		—		—
Land - Consumer Lot Loans	1,109	86	95,829		2	2	6	10	0.90		777		0.81
HELOC	3,086	47	146,282		4	2	10	16	0.52		1,052		0.72
Consumer	3,133	34	105,361		42	65	13	120	3.83		630		0.60
	36,346	333	$	12,113,742	108	92	117	317	0.87	%	$	39,659	0.33	%

7