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Washington Federal, Inc.
Fact Sheet
December 31, 2004
($ in Thousands)
6/04 QTR 9/04 QTR 12/04 QTR
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Loan Loss Reserve - Total $ 25,194 $ 25,140 $ 25,008
- General 24,491 24,374 24,268
- Specific 703 766 740
Net Charge-offs (Recoveries) for the Qtr 38 54 132
Nonperforming Assets - Total 14,441 14,946 12,896
- REO 4,282 3,817 2,094
- Nonaccrual 10,159 11,129 10,802
Troubled Debt Restructuring 1,450 803 763
Capital Ratios - Tangible 1,009,374 14.05% 1,036,851 14.65% 1,058,930 14.20%
- Core 1,009,374 14.05 1,036,851 14.65 1,058,930 14.20
- Risk Based 1,027,225 26.46 1,054,160 26.85 1,073,724 26.49
6/04 QTR 6/04 YTD 9/04 QTR 9/04 YTD 12/04 QTR
-------- -------- -------- -------- ---------
Loan Originations - Total $ 603,460 $1,516,284 $ 554,700 $2,070,984 $ 563,971
- Construction 163,292 405,941 165,888 571,829 176,615
- Land 62,568 182,970 70,167 253,137 72,727
- Permanent 348,506 855,413 304,346 1,159,759 294,735
- Refinances 29,094 71,960 14,299 86,259 19,894
6/04 QTR 6/04 YTD 9/04 QTR 9/04 YTD 12/04 QTR
-------- -------- -------- -------- --------
Loan Servicing Fee Income $ 2,066 $ 4,862 $ 1,384 $ 6,246 $ 1,572
Other Fee Income 247 704 358 1,062 231
-------- -------- -------- -------- --------
Total Fee Income $ 2,313 $ 5,566 $ 1,803 $ 7,308 $ 1,803
======== ======== ======== ======== ========
6/04 QTR 6/04 YTD 9/04 QTR 9/04 YTD 12/04 QTR
-------- -------- -------- -------- --------
Average Loans $4,926,018 $4,876,596 $5,018,103 $4,912,166 $5,203,795
Average Earning Assets 7,082,071 7,191,523 7,078,265 7,163,054 7,146,047
Average Assets 7,355,213 7,463,268 7,283,121 7,421,597 7,386,270
Operating Expenses/Average Assets 0.60% 0.60% 0.69% 0.62% 0.65%
Efficiency Ratio 17.07 17.92 20.56 18.57 17.62
Amortization of Intangibles $ 343 $ 1,066 $ 331 $ 1,397 $ 318
Repayments 6/04 QTR 6/04 YTD 9/04 QTR 9/04 YTD 12/04 QTR
- ---------- -------- -------- -------- -------- --------
Loans $ 498,569 $1,287,923 $ 394,494 $1,682,417 $ 400,142
MBS 78,882 218,805 53,896 272,701 55,390
EOP Numbers 6/04 QTR 9/04 QTR 12/04 QTR
- ----------- -------- -------- ---------
Shares Issued and Outstanding 78,443,825 78,679,597 78,742,824
Share repurchase information 6/04 QTR 6/04 YTD 9/04 QTR 9/04 YTD 12/04 QTR
- ---------------------------- -------- -------- -------- -------- --------
Remaining shares auth. for repurchase 3,009,103 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 6/04 QTR 9/04 QTR 12/04 QTR
- ------------------- -------- -------- --------
$ Amount $1,037,463 $1,061,249 $1,077,486
Per Share 13.23 13.49 13.68
# of Employees 757 754 749
Tax Rate - Going Forward 35.25% 35.25% 35.50%
6/04 QTR 9/04 QTR 12/04 QTR
---------------- ---------------- ----------------
Loan Portfolio by Category AMOUNT % AMOUNT % AMOUNT %
- -------------------------- ------ - ------ - ------ -
Single-Family Residential $3,878,029 71.8% $3,982,632 71.2% $4,145,727 70.7%
Multi-Family 470,832 8.7 467,354 8.4 475,057 8.1
Construction 784,078 14.5 845,259 15.1 908,528 15.5
Land 272,249 5.0 297,351 5.3 331,281 5.7
---------- ---- ---------- ---- ---------- ----
Gross Loans (before ALL, Deferrals and LIP) $5,405,188 100% $5,592,596 100% $5,860,593 100%
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6/04 QTR 9/04 QTR 12/04 QTR
----------------------- ----------------------- -----------------------
Deposits by State AMOUNT % # AMOUNT % # AMOUNT % #
- ----------------- ------ - - ------ - - ------ - -
WA $2,207,650 48.3% 43 $2,210,427 47.9% 43 $2,231,460 47.8% 43
ID 481,019 10.5 16 487,963 10.6 16 492,592 10.6 16
OR 796,426 17.4 25 805,667 17.5 26 813,237 17.4 26
UT 279,912 6.1 11 282,612 6.1 10 279,902 6.0 10
NV 61,929 1.4 2 63,790 1.4 2 65,199 1.4 2
TX 21,090 0.5 2 30,967 0.7 2 35,805 0.8 2
AZ 724,473 15.8 20 728,933 15.8 20 746,136 16.0 20
---------- ---- --- ---------- ---- --- ---------- ---- ---
Total $4,572,499 100% 119 $4,610,359 100% 119 $4,664,331 100% 119
========== ==== === ========== ==== === ========== ==== ===
6/04 QTR 9/04 QTR 12/04 QTR
---------------- ---------------- ----------------
Deposits by Type AMOUNT % AMOUNT % AMOUNT %
- ---------------- ------ - ------ - ------ -
Checking (noninterest) $ 15,712 0.3% $ 13,351 0.3% $ 13,207 0.3%
NOW (interest) 183,816 4.0 182,805 4.0 181,962 3.9
Savings (passbook/stmt) 226,121 4.9 224,989 4.9 219,151 4.7
Money Market 947,979 20.7 929,952 20.2 946,535 20.3
CD's 3,198,871 70.1 3,259,262 70.6 3,303,476 70.8
---------- ---- ---------- ---- ---------- ----
Total $4,572,499 100% $4,610,359 100% $4,664,331 100%
========== ==== ========== ==== ========== ====
Deposits greater than $100,000 - EOP $1,154,100 $1,199,447 $1,211,460
Brokered Deposits $ --- $ --- $ ---
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