1
Washington Federal, Inc.
Fact Sheet
June 30, 2004
($ in Thousands)
12/03 QTR 3/04 QTR 6/04 QTR
-------- -------- ---------
Loan Loss Reserve - Total $ 25,630 $ 25,462 $ 25,194
- General 24,683 24,075 24,491
- Specific 947 1,388 703
- Acq'd through Acquisition --- --- ---
Net Charge-offs (Recoveries) for the Qtr 176 168 38
Nonperforming Assets - Total 24,785 25,216 14,441
- REO 9,122 8,567 4,282
- Nonaccrual 15,663 16,649 10,159
Troubled Debt Restructuring 1,475 1,465 1,450
Capital Ratios - Tangible 972,908 13.11% 990,996 13.36% 1,009,374 14.05%
- Core 972,908 13.11 990,996 13.36 1,009,374 14.05
- Risk Based 991,697 25.34 1,008,351 25.81 1,027,225 26.46
12/03 QTR 3/04 QTR 3/04 YTD 6/04 QTR 6/04 YTD
-------- -------- -------- --------- --------
Loan Originations - Total $ 483,260 $ 429,564 $ 912,824 $ 603,460 $1,516,284
- Construction 114,660 127,989 242,649 163,292 405,941
- Land 63,436 56,966 120,402 62,568 182,970
- Permanent 283,905 223,002 506,907 348,506 855,413
- Refinances 21,259 21,607 42,866 29,094 71,960
12/03 QTR 3/04 QTR 3/04 YTD 6/04 QTR 6/04 YTD
-------- -------- -------- -------- --------
Loan Servicing Fee Income $ 1,573 $ 1,223 $ 2,796 $ 2,066 $ 4,862
Other Fee Income 220 237 457 247 704
-------- -------- -------- -------- --------
Total Fee Income $ 1,793 $ 1,460 $ 3,253 $ 2,313 $ 5,566
======== ======== ======== ======== ========
12/03 QTR 3/04 QTR 3/04 YTD 6/04 QTR 6/04 YTD
-------- -------- -------- -------- --------
Average Loans $4,830,266 $4,874,013 $4,852,020 $4,926,018 $4,876,596
Average Earning Assets 7,227,381 7,264,724 7,245,950 7,082,071 7,191,523
Average Assets 7,537,182 7,537,758 7,536,417 7,355,213 7,463,268
Operating Expenses/Average Assets 0.57% 0.59% 0.58% 0.58% 0.58%
Efficiency Ratio 17.57 18.14 17.85 16.57 17.41
Amortization of Intangibles $ 368 $ 355 $ 723 $ 343 $ 1,066
Repayments 12/03 QTR 3/04 QTR 3/04 YTD 6/04 QTR 6/04 YTD
- ---------- -------- -------- -------- -------- --------
Loans $ 441,153 $ 348,201 $ 789,354 $ 498,569 $1,287,923
MBS 84,734 55,189 139,923 78,882 218,805
EOP Numbers 12/03 QTR 3/04 QTR 6/04 QTR
- ----------- -------- -------- ---------
Shares Issued and Outstanding 78,410,068 * 78,498,545 78,443,825
Share repurchase information 12/03 QTR 3/04 QTR 3/04 YTD 6/04 QTR 6/04 YTD
- ---------------------------- -------- -------- -------- -------- --------
Remaining shares auth. for repurchase 3,094,103 * 3,094,103 3,094,103 3,009,103 3,009,103
Shares repurchased --- --- --- 85,000 85,000
Average share repurchase price $ --- $ --- $ --- $ 22.81 $ 22.81
* - Item has been adjusted for the Feb. 2004 10% stock dividend
-1-
2
Tangible Book Value 12/03 QTR 3/04 QTR 6/04 QTR
- ------------------- -------- -------- ---------
$ Amount $1,010,232 $1,032,727 $1,037,463
Per Share 12.88 * 13.16 13.23
# of Employees 751 754 757
Tax Rate - Going Forward 35.25% 35.25% 35.25%
12/03 QTR 3/04 QTR 6/04 QTR
---------------- ---------------- ----------------
Loan Portfolio by Category AMOUNT % AMOUNT % AMOUNT %
- -------------------------- ------ - ------ - ------ -
Permanent 1-4 Family Loans $3,824,966 73.2% $3,852,130 72.6% $3,878,029 71.8%
Multi-Family 480,365 9.2 490,865 9.3 470,832 8.7
Construction 684,049 13.1 705,726 13.3 784,078 14.5
Land 232,904 4.5 254,610 4.8 272,249 5.0
---------- ---- ---------- ---- ---------- ----
Gross Loans (before ALL, Deferrals and LIP) $5,222,284 100% $5,303,331 100% $5,405,188 100%
========== ==== ========== ==== ========== ====
12/03 QTR 3/04 QTR 6/04 QTR
----------------------- ----------------------- -----------------------
Deposits by State AMOUNT % # AMOUNT % # AMOUNT % #
- ----------------- ------ - - ------ - - ------ - -
WA $2,235,420 48.8% 44 $2,222,699 48.8% 44 $2,207,650 48.3% 44
ID 481,151 10.6 16 483,037 10.6 16 481,019 10.5 16
OR 779,472 17.0 24 774,609 17.0 24 796,426 17.4 25
UT 267,373 5.8 11 270,082 5.9 11 279,912 6.1 11
NV 60,881 1.3 2 61,534 1.3 2 61,929 1.4 2
TX 23,848 0.5 1 23,275 0.5 1 21,090 0.5 2
AZ 728,015 15.9 20 725,510 15.9 20 724,473 15.8 20
---------- ---- --- ---------- ---- --- ---------- ---- ---
Total $4,579,160 100% 118 $4,560,746 100% 118 $4,572,499 100% 120
========== ==== === ========== ==== === ========== ==== ===
12/03 QTR 3/04 QTR 6/04 QTR
---------------- ---------------- ----------------
Deposits by type AMOUNT % AMOUNT % AMOUNT %
- ---------------- ------ - ------ - ------ -
Checking (Noninterest) $ 16,817 0.4% $ 18,625 0.4% $ 15,712 0.3%
Now (interest) 166,876 3.6 169,947 3.7 183,816 4.0
Savings (passbook/stmt) 227,653 5.0 228,712 5.0 226,121 4.9
Money Market 990,221 21.6 963,632 21.1 947,979 20.7
C.D.'s 3,177,593 69.4 3,179,830 69.8 3,198,871 70.1
---------- ---- ---------- ---- ---------- ----
Total $4,579,160 100% $4,560,746 100% $4,572,499 100%
========== ==== ========== ==== ========== ====
Deposits greater than $100,000 - EOP $1,141,618 $1,145,097 $1,154,100
Brokered Deposits $ --- $ --- $ ---
* - Item has been adjusted for the Feb. 2004 10% stock dividend
-2-