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Washington Federal, Inc.
Fact Sheet
December 31, 2003
($ in Thousands)
6/03 QTR 9/03 QTR 12/03 QTR
-------- -------- ---------
Loan Loss Reserve - Total $ 24,516 $ 25,806 $ 25,630
- General 22,961 24,029 24,683
- Specific 1,555 1,777 947
- Acq'd through Acquisition --- 1,597 ---
Net Charge-offs (Recoveries) for the Qtr 199 307 176
Nonperforming Assets - Total 33,522 27,434 24,785
- REO 10,629 11,496 9,122
- Nonaccrual 22,893 15,938 15,663
Troubled Debt Restructuring 2,153 2,551 1,475
Capital Ratios - Tangible 922,782 12.92% 956,471 12.91% 972,908 13.11%
- Core 922,782 12.92 956,471 12.91 972,908 13.11
- Risk Based 940,399 24.05 974,776 24.10 991,697 25.34
6/03 QTR 6/03 YTD 9/03 QTR 9/03 YTD 12/03 QTR
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Loan Originations - Total $ 459,960 $1,299,291 $ 567,820 $1,867,111 $ 483,260
- Construction 124,698 361,256 126,436 487,692 114,660
- Land 40,781 117,546 45,986 163,532 63,436
- Permanent 261,222 727,847 350,527 1,078,374 283,905
- Refinances 33,259 92,642 44,871 137,513 21,259
6/03 QTR 6/03 YTD 9/03 QTR 9/03 YTD 12/03 QTR
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Loan Servicing Fee Income $ 1,719 $ 4,751 $ 2,214 $ 6,965 $ 1,573
Other Fee Income 234 646 337 983 220
-------- -------- -------- -------- ---------
Total Fee Income $ 1,953 $ 5,397 $ 2,551 $ 7,948 $ 1,793
======== ======== ======== ======== =========
6/03 QTR 6/03 YTD 9/03 QTR 9/03 YTD 12/03 QTR
-------- -------- -------- -------- ---------
Average Loans (w/o MBS) $4,668,966 $4,785,443 $4,608,632 $4,740,877 $4,830,266
Average Loans (with MBS) 5,313,324 5,520,676 5,164,046 5,430,785 5,428,861
Average Earning Assets 7,033,118 7,079,248 6,998,817 7,058,975 7,227,381
Average Assets 7,207,251 7,255,297 7,256,845 7,261,429 7,484,985
Operating Expenses/Average Assets 0.58% 0.62% 0.56% 0.61% 0.58%
Efficiency Ratio 15.69 16.64 16.07 16.51 17.57
Amortization of Intangibles $ --- $ --- $ 125 $ 125 $ 368
Repayments 6/03 QTR 6/03 YTD 9/03 QTR 9/03 YTD 12/03 QTR
- ---------- -------- -------- -------- -------- ---------
Loans $ 625,790 $1,917,331 $ 653,125 $2,570,456 $ 441,153
MBS 167,180 499,544 145,277 644,821 84,734
EOP Numbers 6/03 QTR 9/03 QTR 12/03 QTR
- ----------- -------- -------- ---------
Shares Issued and Outstanding 69,648,417 71,173,487 71,281,881
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Share repurchase information 6/03 QTR 6/03 YTD 9/03 QTR 9/03 YTD 12/03 QTR
- ---------------------------- -------- -------- -------- -------- ---------
Remaining shares auth. for repurchase 2,812,821 2,812,821 2,812,821 2,812,821 2,812,821
Shares repurchased --- 510,070 --- 510,070 ---
Average share repurchase price $ --- $ 19.67 $ --- $ 19.67 $ ---
Tangible Book Value 6/03 QTR 9/03 QTR 12/03 QTR
- ------------------- -------- -------- ---------
$ Amount $ 968,256 $ 998,092 $1,010,232
Per Share 13.90 14.02 14.17
# of Employees 718 754 751
Tax Rate - Going Forward 35.25% 35.25% 35.25%
6/03 QTR 9/03 QTR 12/03 QTR
---------------- ---------------- ----------------
Loan Portfolio by Category AMOUNT % AMOUNT % AMOUNT %
- -------------------------- ------ - ------ - ------ -
Permanent 1-4 Family Loans $3,659,823 65.1% $3,839,535 65.7% $3,824,966 64.2%
Permanent 1-4 Family MBS 657,203 11.7 656,218 11.2 735,278 12.3
---------- ---- ---------- ---- ---------- ----
Total Permanent 1-4 Family 4,317,026 76.8 4,495,753 76.9 4,560,244 76.5
Multi-Family 467,675 8.3 479,129 8.2 480,365 8.1
Construction 627,335 11.2 651,242 11.1 684,049 11.5
Land 207,932 3.7 217,215 3.8 232,904 3.9
---------- ---- ---------- ---- ---------- ----
Gross Loans (before ALL and LIP) $5,619,968 100% $5,843,339 100% $5,957,562 100%
========== ==== ========== ==== ========== ====
6/03 QTR 9/03 QTR 12/03 QTR
----------------------- ----------------------- -----------------------
Deposits by State AMOUNT % # AMOUNT % # AMOUNT % #
- ----------------- ------ - - ------ - - ------ - -
WA $1,993,397 45.8% 39 $2,233,916 48.8% 44 $2,235,420 48.8% 44
ID 490,981 11.3 17 480,375 10.5 16 484,151 10.6 16
OR 773,850 17.8 24 777,554 17.0 24 779,472 17.0 24
UT 264,717 6.1 11 270,487 5.9 11 267,373 5.8 11
NV 61,499 1.4 2 64,766 1.4 2 60,881 1.3 2
TX 32,257 0.7 1 28,156 0.6 1 23,848 0.5 1
AZ 737,982 16.9 20 722,344 15.8 20 728,015 15.9 20
---------- ---- --- ---------- ---- --- ---------- ---- ---
Total $4,354,683 100% 114 $4,577,598 100% 118 $4,579,160 100% 118
========== ==== === ========== ==== === ========== ==== ===
6/03 QTR 9/03 QTR 12/03 QTR
---------------- ---------------- ----------------
Deposits by type AMOUNT % AMOUNT % AMOUNT %
- ---------------- ------ - ------ - ------ -
Checking (Noninterest) $ 44,313 1.0% $ 26,615 0.6% $ 16,817 0.4%
Now (interest) 144,312 3.3 163,738 3.6 166,876 3.6
Savings (passbook/stmt) 169,445 3.9 234,023 5.1 227,653 5.0
Money Market 1,064,564 24.4 1,037,641 22.7 990,221 21.6
C.D.'s 2,932,049 67.4 3,115,581 68.1 3,177,593 69.4
---------- ---- ---------- ---- ---------- ----
Total $4,354,683 100% $4,577,598 100% $4,579,160 100%
========== ==== ========== ==== ========== ====
Deposits greater than $100,000 - EOP $1,062,076 $1,133,373 $1,141,618
Brokered Deposits $ --- $ --- $ ---
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