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Washington Federal, Inc.
Fact Sheet
September 30, 2004
($ in Thousands)
3/04 QTR 6/04 QTR 9/04 QTR
-------- -------- ---------
Loan Loss Reserve - Total $ 25,462 $ 25,194 $ 25,140
- General 24,075 24,491 24,374
- Specific 1,388 703 766
Net Charge-offs (Recoveries) for the Qtr 168 38 54
Nonperforming Assets - Total 25,216 14,441 14,946
- REO 8,567 4,282 3,817
- Nonaccrual 16,649 10,159 11,129
Troubled Debt Restructuring 1,465 1,450 803
Capital Ratios - Tangible 990,996 13.36% 1,009,374 14.05% 1,036,851 14.65%
- Core 990,996 13.36 1,009,374 14.05 1,036,851 14.65
- Risk Based 1,008,351 25.81 1,027,225 26.46 1,054,160 26.85
3/04 QTR 3/04 YTD 6/04 QTR 6/04 YTD 9/04 QTR 9/04 YTD
-------- -------- -------- -------- --------- --------
Loan Originations - Total $ 429,564 $ 912,824 $ 603,460 $1,516,284 $ 554,700 $2,070,984
- Construction 127,989 242,649 163,292 405,941 165,888 571,829
- Land 56,966 120,402 62,568 182,970 70,167 253,137
- Permanent 223,002 506,907 348,506 855,413 304,346 1,159,759
- Refinances 21,607 42,866 29,094 71,960 14,299 86,259
3/04 QTR 3/04 YTD 6/04 QTR 6/04 YTD 9/04 QTR 9/04 YTD
-------- -------- -------- -------- -------- --------
Loan Servicing Fee Income $ 1,223 $ 2,796 $ 2,066 $ 4,862 $ 1,384 $ 6,246
Other Fee Income 237 457 247 704 358 1,062
-------- -------- -------- -------- -------- --------
Total Fee Income $ 1,460 $ 3,253 $ 2,313 $ 5,566 $ 1,742 $ 7,308
======== ======== ======== ======== ======== ========
3/04 QTR 3/04 YTD 6/04 QTR 6/04 YTD 9/04 QTR 9/04 YTD
-------- -------- -------- -------- -------- --------
Average Loans $4,874,013 $4,852,020 $4,926,018 $4,876,596 $5,018,103 $4,912,166
Average Earning Assets 7,264,724 7,245,950 7,082,071 7,191,523 7,078,265 7,163,054
Average Assets 7,537,758 7,536,417 7,355,213 7,463,268 7,283,121 7,421,597
Operating Expenses/Average Assets 0.61% 0.60% 0.60% 0.60% 0.69% 0.62%
Efficiency Ratio 18.64 18.36 17.07 17.92 20.56 18.57
Amortization of Intangibles $ 355 $ 723 $ 343 $ 1,066 $ 331 $ 1,397
Repayments 3/04 QTR 3/04 YTD 6/04 QTR 6/04 YTD 9/04 QTR 9/04 YTD
- ---------- -------- -------- -------- -------- -------- --------
Loans $ 348,201 $ 789,354 $ 498,569 $1,287,923 $ 394,494 $1,682,417
MBS 55,189 139,923 78,882 218,805 53,896 272,701
EOP Numbers 3/04 QTR 6/04 QTR 9/04 QTR
- ----------- -------- -------- ---------
Shares Issued and Outstanding 78,498,545 78,443,825 78,679,597
Share repurchase information 3/04 QTR 3/04 YTD 6/04 QTR 6/04 YTD 9/04 QTR 9/04 YTD
- ---------------------------- -------- -------- -------- -------- -------- --------
Remaining shares auth. for repurchase 3,094,103 3,094,103 3,009,103 3,009,103 3,009,103 3,009,103
Shares repurchased --- --- 85,000 85,000 --- 85,000
Average share repurchase price $ --- $ --- $ 22.81 $ 22.81 $ --- $ 22.81
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Tangible Book Value 3/04 QTR 6/04 QTR 9/04 QTR
- ------------------- -------- -------- --------
$ Amount $1,032,727 $1,037,463 $1,061,249
Per Share 13.16 13.23 13.49
# of Employees 754 757 754
Tax Rate - Going Forward 35.25% 35.25% 35.25%
3/04 QTR 6/04 QTR 9/04 QTR
---------------- ---------------- ----------------
Loan Portfolio by Category AMOUNT % AMOUNT % AMOUNT %
- -------------------------- ------ - ------ - ------ -
Permanent 1-4 Family Loans $3,852,130 72.6% $3,878,029 71.8% $3,982,632 71.2%
Multi-Family 490,865 9.3 470,832 8.7 467,354 8.4
Construction 705,726 13.3 784,078 14.5 845,259 15.1
Land 254,610 4.8 272,249 5.0 297,351 5.3
---------- ---- ---------- ---- ---------- ----
Gross Loans (before ALL, Deferrals and LIP) $5,303,331 100% $5,405,188 100% $5,592,596 100%
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3/04 QTR 6/04 QTR 9/04 QTR
----------------------- ----------------------- -----------------------
Deposits by State AMOUNT % # AMOUNT % # AMOUNT % #
- ----------------- ------ - - ------ - - ------ - -
WA $2,222,699 48.8% 44 $2,207,650 48.3% 44 $2,210,427 47.9% 44
ID 483,037 10.6 16 481,019 10.5 16 487,963 10.6 16
OR 774,609 17.0 24 796,426 17.4 25 805,667 17.5 25
UT 270,082 5.9 11 279,912 6.1 11 282,612 6.1 11
NV 61,534 1.3 2 61,929 1.4 2 63,790 1.4 2
TX 23,275 0.5 1 21,090 0.5 2 30,967 0.7 2
AZ 725,510 15.9 20 724,473 15.8 20 728,933 15.8 20
---------- ---- --- ---------- ---- --- ---------- ---- ---
Total $4,560,746 100% 118 $4,572,499 100% 120 $4,610,359 100% 120
========== ==== === ========== ==== === ========== ==== ===
3/04 QTR 6/04 QTR 9/04 QTR
---------------- ---------------- ----------------
Deposits by Type AMOUNT % AMOUNT % AMOUNT %
- ---------------- ------ - ------ - ------ -
Checking (Noninterest) $ 18,625 0.4% $ 15,712 0.3% $ 13,351 0.3%
Now (interest) 169,947 3.7 183,816 4.0 182,805 4.0
Savings (passbook/stmt) 228,712 5.0 226,121 4.9 224,989 4.9
Money Market 963,632 21.1 947,979 20.7 929,952 20.2
C.D.'s 3,179,830 69.8 3,198,871 70.1 3,259,262 70.6
---------- ---- ---------- ---- ---------- ----
Total $4,560,746 100% $4,572,499 100% $4,610,359 100%
========== ==== ========== ==== ========== ====
Deposits greater than $100,000 - EOP $1,145,097 $1,154,100 $1,199,447
Brokered Deposits $ --- $ --- $ ---
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