Washington Federal, Inc. (WAFD): Modelo de negócios Canvas [Jan-2025 Atualizado]

Mergulhe no plano estratégico da Washington Federal, Inc. (WAFD), uma potência bancária regional dinâmica que transforma os serviços financeiros tradicionais por meio de abordagens inovadoras. Esse modelo abrangente de negócios revela como o WAFD aproveita parcerias estratégicas, tecnologias digitais de ponta e uma estratégia focada na comunidade para oferecer experiências bancárias personalizadas em todo o oeste dos Estados Unidos. Ao entender suas proposições de valor exclusivas e estrutura operacional complexa, descobriremos os elementos -chave que impulsionam o sucesso dessa instituição financeira e a diferenciaremos em um cenário bancário competitivo.

Washington Federal, Inc. (WAFD) - Modelo de negócios: Parcerias -chave

Parcerias estratégicas com empresas locais e regionais

Em 2024, a Washington Federal mantém parcerias estratégicas com aproximadamente 127 redes de negócios locais e regionais em seus territórios operacionais.

Tipo de parceria	Número de parcerias	Cobertura geográfica
Redes de negócios locais	82	8 estados ocidentais
Associações de Negócios Regionais	45	Noroeste do Pacífico

Colaboração com corretores hipotecários e agências imobiliárias

Washington Federal estabeleceu parcerias com 243 corretores hipotecários e agências imobiliárias.

• Parcerias de corretores hipotecários: 157
• Colaborações da agência imobiliária: 86
• Volume médio de empréstimo por parceria: US $ 4,2 milhões

Fornecedores de tecnologia para soluções bancárias digitais

O banco colabora com 12 fornecedores de tecnologia especializados em infraestrutura bancária digital.

Categoria de tecnologia	Número de fornecedores	Investimento anual
Sistemas bancários principais	3	US $ 5,7 milhões
Soluções de segurança cibernética	4	US $ 3,2 milhões
Plataformas bancárias móveis	5	US $ 2,9 milhões

Bancos comunitários e provedores de serviços financeiros

O Washington Federal mantém parcerias com 38 bancos comunitários e provedores de serviços financeiros.

• Parcerias do Banco Comunitário: 22
• Colaborações de provedores de serviços financeiros: 16
• Valor do ativo colaborativo total: US $ 1,6 bilhão

Empresas de seguros para produtos financeiros complementares

O banco estabeleceu parcerias com 19 companhias de seguros para oferecer produtos financeiros integrados.

Categoria de produto de seguro	Número de parceiros	Participação anual da receita
Seguro de vida	7	US $ 3,4 milhões
Propriedade & Seguro contra acidentes	6	US $ 2,8 milhões
Seguro de saúde	6	US $ 2,5 milhões

Washington Federal, Inc. (WAFD) - Modelo de negócios: Atividades -chave

Empréstimos comerciais e residenciais

A partir do quarto trimestre de 2023, o Washington Federal reportou um portfólio de empréstimos totais de US $ 16,7 bilhões, com o seguinte quebra:

Categoria de empréstimo	Montante total	Porcentagem de portfólio
Empréstimos imobiliários comerciais	US $ 8,3 bilhões	49.7%
Empréstimos hipotecários residenciais	US $ 6,2 bilhões	37.1%
Construção & Empréstimos de desenvolvimento da terra	US $ 1,7 bilhão	10.2%
Empréstimos ao consumidor	US $ 500 milhões	3%

Gerenciamento de contas de depósito e poupança

Total de depósitos em 31 de dezembro de 2023: US $ 20,1 bilhões

• Depósitos não com juros: US $ 4,3 bilhões
• Contas de corrente portadoras de juros: US $ 6,8 bilhões
• Contas de poupança: US $ 5,5 bilhões
• Depósitos de tempo: US $ 3,5 bilhões

Desenvolvimento da plataforma bancária digital

Métricas bancárias digitais para 2023:

• Usuários bancários móveis: 325.000
• Transações bancárias online: 18,2 milhões
• Taxa de abertura da conta digital: 42%

Gerenciamento de riscos e conformidade

Alocação de conformidade e gerenciamento de riscos para 2023:

Categoria	Investimento
Orçamento do departamento de conformidade	US $ 22,5 milhões
Investimentos de segurança cibernética	US $ 15,3 milhões
Sistemas de relatórios regulatórios	US $ 7,2 milhões

Comunidade bancária e construção de relacionamento

Métricas de engajamento da comunidade para 2023:

• Número de localizações da filial: 188
• Estados de operação: 6
• Investimentos de desenvolvimento comunitário: US $ 12,6 milhões
• Empréstimos para pequenas empresas originadas: 1.750

Washington Federal, Inc. (WAFD) - Modelo de negócios: Recursos -chave

Forte Rede Regional de Filial no oeste dos Estados Unidos

A partir do quarto trimestre de 2023, Washington Federal opera 215 filiais em 8 estados no oeste dos Estados Unidos, incluindo Washington, Oregon, Idaho, Utah, Nevada, Arizona, Califórnia e Texas.

Estado	Número de ramificações
Washington	72
Oregon	38
Idaho	25
Utah	22
Nevada	20
Arizona	18
Califórnia	15
Texas	5

Equipe de gestão financeira experiente

A liderança executiva de Washington Federal inclui:

• Roy M. Whitehead, Presidente e CEO
• Vincent L. Beatty, diretor financeiro
• David A. Shotwell, diretor de operações

Infraestrutura de tecnologia bancária digital avançada

TOTAL TECNOLOGIA E INVESTIMENTOS DIGITAL BANKING em 2023: US $ 42,3 milhões

Recurso bancário digital	Taxa de adoção do usuário
Mobile Banking	76%
Pagamento on -line	68%
Abertura da conta digital	54%

Banco de dados robusto do cliente

Base total de clientes em 31 de dezembro de 2023: 590.000 clientes

• Clientes bancários pessoais: 475.000
• Clientes bancários de negócios: 115.000

Reservas de capital sólido e estabilidade financeira

Métricas financeiras a partir do quarto trimestre 2023:

Métrica financeira	Quantia
Total de ativos	US $ 18,6 bilhões
Índice de capital de camada 1	13.2%
Patrimônio total	US $ 2,1 bilhões
Lucro líquido (2023)	US $ 286 milhões

Washington Federal, Inc. (WAFD) - Modelo de negócios: proposições de valor

Serviços bancários personalizados para comunidades locais

A partir do quarto trimestre de 2023, a Washington Federal opera 215 filiais em 8 estados, servindo comunidades locais com soluções financeiras direcionadas.

Cobertura do estado	Número de ramificações
Washington	87
Oregon	45
Arizona	33
Outros estados	50

Taxas de juros competitivas em empréstimos e depósitos

As taxas de juros atuais da Washington Federal em janeiro de 2024:

Tipo de produto	Intervalo de taxa de juros
Contas de poupança pessoal	3.25% - 4.50%
Empréstimos hipotecários	6.75% - 7.25%
Empréstimos comerciais	7.50% - 8.25%

Plataformas bancárias digitais e móveis convenientes

Estatísticas bancárias digitais:

• Usuários bancários móveis: 372.000 em dezembro de 2023
• Volume de transações online: 2,1 milhões de transações mensais
• Classificação de aplicativo móvel: 4.6/5 na App Store

Abordagem de atendimento ao cliente orientada por relacionamento

Métricas de retenção de clientes para 2023:

• Taxa de retenção de clientes: 87,3%
• Duração média do relacionamento do cliente: 7,2 anos
• Pontuação do promotor líquido: 68

Soluções financeiras flexíveis para diversas necessidades de clientes

Redução da diversidade de produtos para 2023:

Segmento de clientes	Ofertas de produtos	Penetração de mercado
Bancos pessoais	12 tipos de conta	65% da base de clientes
Banking de negócios	8 produtos de empréstimos especializados	22% da base de clientes
Gestão de patrimônio	6 Serviços de investimento	13% da base de clientes

Washington Federal, Inc. (WAFD) - Modelo de negócios: relacionamentos com o cliente

Atendimento ao cliente personalizado

Washington Federal fornece serviços bancários personalizados por meio de 242 filiais em 8 estados a partir de 2023. As métricas de interação do atendimento ao cliente incluem:

Canal de serviço	Tempo médio de resposta	Taxa de satisfação do cliente
Suporte de ramificação	12 minutos	89%
Suporte telefônico	7 minutos	86%
Suporte online	4 horas	82%

Gerenciamento de relacionamento de longo prazo

As estratégias de retenção de clientes incluem:

• Posse média do cliente: 7,3 anos
• Cobertura do programa de fidelidade: 62% da base de clientes
• Descontos de preços de relacionamento para clientes de longo prazo

Abordagem bancária focada na comunidade

Investimentos de envolvimento da comunidade em 2023:

Categoria de investimento comunitário	Alocação total
Subsídios da comunidade local	US $ 3,2 milhões
Suporte para pequenas empresas	US $ 5,7 milhões

Canais de interação digital e pessoal

Estatísticas de uso da plataforma bancária digital:

• Usuários bancários móveis: 215.000
• Usuários bancários online: 287.000
• Volume da transação digital: 68% do total de transações

Gerentes de relacionamento dedicados para clientes de negócios

Métricas de gerenciamento de relacionamento bancário de negócios:

Segmento de clientes de negócios	Número de gerentes dedicados	Portfólio médio de clientes
Pequenas empresas	87	42 clientes por gerente
Mercado intermediário	53	18 clientes por gerente
Corporativo	22	8 clientes por gerente

Washington Federal, Inc. (WAFD) - Modelo de Negócios: Canais

Rede de ramificação física

Em 2024, Washington Federal opera 215 filiais em 8 estados, principalmente no oeste dos Estados Unidos.

Estado	Número de ramificações
Washington	89
Oregon	42
Arizona	35
Idaho	22
Nevada	15
Utah	12

Plataforma bancária online

A plataforma digital da Washington Federal serve aproximadamente 387.000 usuários bancários on -line ativos.

• Plataforma digital lançada em 2015
• Suporta segurança de criptografia de 128 bits
• Oferece gerenciamento de contas em tempo real

Aplicativo bancário móvel

Estatísticas de aplicativos bancários móveis para 2024:

Métrica	Valor
Downloads de aplicativos móveis totais	276,500
Usuários ativos mensais	203,000
App Store Classificação	4.6/5

Suporte ao cliente Centros de call centers

O Washington Federal mantém 3 locais principais de call center com 247 representantes de atendimento ao cliente.

• Tempo médio de espera de chamada: 3,2 minutos
• Horário de suporte: 7:00 - 20:00 PST
• Volume anual de chamada: 1,2 milhão de interações com os clientes

Rede ATM

O Washington Federal opera e fornece acesso a 312 caixas eletrônicos em suas regiões de serviço.

Tipo de atm	Número de máquinas
Caixas eletrônicos de propriedade de bancos	187
Caixas eletrônicos de rede compartilhada	125
Transações mensais de atm	456,000

Washington Federal, Inc. (WAFD) - Modelo de negócios: segmentos de clientes

Pequenas e médias empresas

A partir do quarto trimestre de 2023, a Washington Federal atende a aproximadamente 12.500 clientes comerciais pequenos e médios em 5 estados no noroeste do Pacífico.

Segmento de negócios	Número de clientes	Tamanho médio do empréstimo
Pequenas empresas	8,750	$375,000
Médias empresas	3,750	$1,250,000

Clientes de hipotecas residenciais locais

O Washington Federal originou US $ 2,3 bilhões em empréstimos hipotecários residenciais em 2023, atendendo a aproximadamente 16.500 clientes hipotecários residenciais.

• Valor médio do empréstimo hipotecário: US $ 435.000
• Concentração geográfica: Washington, Oregon, Arizona, Idaho
• Participação de mercado de hipotecas residenciais: 7,2% nos principais mercados

Clientes bancários de varejo individuais

Base total de clientes bancários de varejo: 215.000 em 31 de dezembro de 2023.

Tipo de cliente	Número de contas	Saldo médio da conta
Verificação pessoal	127,500	$12,750
Economia pessoal	87,500	$45,600

Investidores imobiliários comerciais

O Washington Federal gerencia um portfólio comercial de US $ 4,7 bilhões entre 1.250 clientes ativos de investimento imobiliário comercial.

• Tamanho médio do empréstimo imobiliário comercial: US $ 3,76 milhões
• Setores: multifamiliar, escritório, varejo, propriedades industriais
• Foco geográfico: regiões noroeste e sudoeste do Pacífico

Indivíduos de alta rede

Segmento de clientes dedicado de alta rede com 2.750 clientes a partir de 2023.

Nível de riqueza	Número de clientes	Ativos médios sob gerenciamento
Alta rede	1,750	US $ 5,2 milhões
Ultra de alta rede	1,000	US $ 18,5 milhões

Washington Federal, Inc. (WAFD) - Modelo de negócios: estrutura de custos

Despesas operacionais da filial

Para o ano fiscal de 2023, Washington Federal reportou despesas operacionais de ramo total de US $ 138,4 milhões. A quebra dessas despesas inclui:

Categoria de despesa	Valor ($)
Custos de ocupação	52,600,000
Utilitários	12,300,000
Manutenção	8,700,000
Equipamento de ramificação	7,900,000

Manutenção de infraestrutura de tecnologia

Washington Federal investiu US $ 46,2 milhões em Manutenção de Infraestrutura de Tecnologia em 2023, com as seguintes áreas -chave:

• Atualizações de sistemas de TI: US $ 22,5 milhões
• Aprimoramentos de segurança cibernética: US $ 15,7 milhões
• Plataforma bancária digital: US $ 8 milhões

Compensação e benefícios dos funcionários

As despesas totais relacionadas aos funcionários para 2023 foram US $ 267,8 milhões, que incluiu:

Componente de compensação	Valor ($)
Salários da base	189,600,000
Bônus de desempenho	38,200,000
Seguro de saúde	24,700,000
Benefícios de aposentadoria	15,300,000

Custos de conformidade regulatória

As despesas regulatórias de conformidade para Washington Federal em 2023 totalizaram US $ 34,6 milhões, incluindo:

• Pessoal de conformidade: US $ 18,2 milhões
• Auditoria e relatórios: US $ 9,4 milhões
• Tecnologia regulatória: US $ 7 milhões

Despesas de marketing e aquisição de clientes

Os custos de marketing e aquisição de clientes para 2023 foram US $ 22,9 milhões, distribuído da seguinte maneira:

Canal de marketing	Valor ($)
Publicidade digital	8,700,000
Mídia tradicional	6,500,000
Programas de referência ao cliente	4,200,000
Patrocínio da comunidade	3,500,000

Washington Federal, Inc. (WAFD) - Modelo de negócios: fluxos de receita

Receita de juros de empréstimos

Para o ano fiscal de 2023, Washington Federal relatou US $ 399,1 milhões na receita total de juros. A quebra da carteira de empréstimos é a seguinte:

Tipo de empréstimo	Balanço total	Receita de juros
Imóveis comerciais	US $ 5,2 bilhões	US $ 187,5 milhões
Hipotecas residenciais	US $ 3,8 bilhões	US $ 142,3 milhões
Empréstimos de construção	US $ 1,1 bilhão	US $ 41,6 milhões

Taxas de originação hipotecária

Em 2023, Washington Federal gerou US $ 23,7 milhões nas taxas de originação hipotecária, representando uma queda de 12% em relação ao ano anterior.

Cobranças de serviço bancário digital

O Serviço Bancário Digital cobranças para 2023 totalizou US $ 15,4 milhões, com a seguinte quebra:

• Taxas de transação bancária online: US $ 7,2 milhões
• Encargos de serviço bancário móvel: US $ 5,6 milhões
• Taxas eletrônicas de transferência de fundos: US $ 2,6 milhões

Serviços de investimento e gerenciamento de patrimônio

A receita dos serviços de investimento e gerenciamento de patrimônio em 2023 equivalia a US $ 42,6 milhões:

Categoria de serviço	Receita
Taxas de gerenciamento de ativos	US $ 28,3 milhões
Serviços de Consultoria Financeira	US $ 14,3 milhões

Taxas de manutenção da conta de depósito

Taxas de manutenção da conta de depósito para 2023 alcançadas US $ 18,9 milhões, com a seguinte distribuição:

• Taxas de conta corrente: US $ 9,5 milhões
• Taxas da conta poupança: US $ 5,4 milhões
• Taxas de conta do mercado monetário: US $ 4,0 milhões

Washington Federal, Inc. (WAFD) - Canvas Business Model: Value Propositions

You're looking at what Washington Federal, Inc. offers its clients that makes them choose the bank over others. It's about the tangible benefits and the relationship you build with them.

Washington Federal, Inc. provides full-service commercial and treasury management solutions for businesses. This isn't just basic checking; it's about supporting operations. For example, commercial loans made up 73% of all originations in 2024, showing a strong focus on business credit needs. Furthermore, the bank has achieved SBA Preferred Lender Status, which streamlines the process for business clients seeking Small Business Administration financing.

The delivery mechanism for these services is a relationship-based, concierge-level service for business clients. The bank explicitly states an objective to 'Deliver phenomenal, concierge-level customer service to all our clients'. This commitment to high-touch service translates into strong customer perception. The bank achieved a reported Net Promoter Score (NPS) of 57 in a late July survey, which is in the top tier of the banking industry. Also, in the J.D. Power 2025 U.S. Retail Banking Satisfaction Study, Washington Federal, Inc. scored 663 in the Northwest ranking, beating the region average of 634.

Financial stability is a core offering, backed by a long track record. Washington Federal, Inc. has been profitable every year since 1965. As of September 30, 2025, the bank reported Total Assets of $26.7 billion and Stockholder Equity of $3.0 billion. You can count on consistent shareholder returns; the Board announced a regular quarterly cash dividend of 27 cents per share for payment on December 5, 2025. This marks the 171st consecutive quarterly cash dividend paid by the company. The annualized dividend per share is currently $1.08, translating to a dividend yield of 3.45%.

Washington Federal, Inc. offers a comprehensive suite of deposit products for both commercial and consumer clients. This mix is evolving to favor more stable funding sources. As of September 30, 2025, 57.4% of the Company's deposits were in transaction accounts. More importantly, Core deposits-defined as transaction accounts and time deposits under $250,000-comprised 77.9% of total deposits. The bank is actively working to enhance this mix, with a stated goal to grow non-interest-bearing deposits to 20% of total by 2030.

The value proposition is reinforced by high customer satisfaction, which we see in the NPS figures mentioned above, but also in comparative studies. The bank's investments in service and technology are clearly paying off for clients. Here's a quick look at how the bank's financial performance supports these value claims for fiscal year 2025:

Metric	Value (as of Q4 FY2025 or FY2025)	Context
Fiscal 2025 Net Income	$226 million	Year-over-year increase of 13%
Q4 2025 Net Interest Margin (NIM)	2.71%	Up from 2.62% one year ago
Q4 2025 Efficiency Ratio	56.82%	Reflecting investments in talent and technology
Total Deposits (as of 9/30/2025)	$21.4 billion	Foundation for lending and operations

The focus on relationship banking and service quality is a deliberate strategy to differentiate from larger, less personal competitors. You see this commitment in their operational metrics and their stated objectives for the 'Build 2030' plan.

The value propositions for a Washington Federal, Inc. client include:

• Full-service commercial and treasury management solutions.
• Relationship-based, concierge-level service delivery.
• A history of profitability dating back to 1965.
• 171 consecutive quarterly cash dividends paid.
• Deposit mix heavily weighted toward Core deposits at 77.9%.
• A recent customer satisfaction score of 57 (NPS).

Finance: draft 13-week cash view by Friday.

Washington Federal, Inc. (WAFD) - Canvas Business Model: Customer Relationships

You're assessing how Washington Federal, Inc. (WAFD) manages its client interactions as it completes its pivot from a traditional thrift to a commercial bank. The relationship strategy is now laser-focused on high-value business clients while maintaining a community presence.

Dedicated Commercial Relationship Managers for business clients

The shift in the loan book dictates the relationship structure. As of September 30, 2025, commercial loans represented a solid 59.5% of the net loan portfolio, which totaled $20.1 billion. This focus means the relationship managers are the frontline for the bank's growth engine.

This emphasis is clear in new business generation. For the full fiscal year 2025, commercial loans made up 83% of all loan originations, which totaled $4.0 billion. This volume signals a heavy reliance on dedicated relationship managers to source, underwrite, and service these complex commercial relationships.

Here's a quick look at the commercial focus driving the relationship structure as of late 2025:

Metric	Value as of September 30, 2025	Context
Total Assets	$26.7 billion	Overall balance sheet size.
Net Loan Portfolio	$20.1 billion	The total book being managed.
Commercial Loans Percentage of Net Loans	59.5%	The core focus of the lending strategy.
FY 2025 Commercial Loan Originations Percentage	83%	The source of new relationship value.
FY 2025 Total Loan Originations	$4.0 billion	The total new business volume.

The management team is actively working to improve profitability metrics, with the fiscal year 2025 efficiency ratio improving to 58.9%, down from 62.1% in fiscal 2024. Building deeper commercial relationships is key to lowering funding costs, targeting 20% non-interest-bearing deposits by 2030.

High-touch, advisory model for wealth management and insurance services

For services beyond core lending, the model remains high-touch. The bank's non-interest income for fiscal year 2025 reached $71.2 million, a 17.4% year-over-year increase, which is partly attributed to the performance of its insurance subsidiary, WaFd Insurance. This suggests that advisory services, including insurance, are being integrated into the existing client relationship structure.

The bank's mission is explicitly about building relationships, not just transactions. This philosophy supports the advisory nature required for wealth management and insurance sales, where trust and personalized guidance are paramount.

Automated digital self-service for routine consumer and small business transactions

While commercial banking drives the loan book, routine customer interactions are being streamlined. The bank has invested in technology, including launching an online consumer banking platform integrated with mobile banking suites. This investment supports automated self-service for everyday tasks.

Evidence of consumer engagement with transactional services is seen in the deposit mix. As of September 30, 2025, transaction accounts (checking) made up 57.4% of total deposits, up from 55.3% a year prior. This growth in checking suggests consumers are using the digital channels for day-to-day money movement, freeing up relationship managers for more complex commercial needs.

The bank is focused on deposit quality to support its strategy:

• Checking accounts composition: 57.4% of total deposits (Sep 30, 2025).
• Core deposits percentage of total deposits: 77.9% (Sep 30, 2025).
• Target for non-interest-bearing deposits by 2030: 20%.

Community-focused banking with local decision-making authority

Washington Federal, Inc. operates 208 branches across 9 western states. This physical footprint supports the community-focused aspect of the relationship model, which relies on local presence and decision-making authority, especially important for small business clients.

The commitment to the local community is quantified through philanthropic efforts. For the fiscal year 2025, the Washington Federal Foundation awarded 242 grants to local community organizations, totaling over $1.1 million. This action demonstrates the tangible commitment to the communities where the bank maintains its local decision-making structure.

Finance: draft 13-week cash view by Friday.

Washington Federal, Inc. (WAFD) - Canvas Business Model: Channels

You're looking at how Washington Federal, Inc. (WaFd Bank) gets its value proposition-especially its shift toward commercial banking-out to its customers across the Western U.S. The channels are a mix of physical presence and digital tools, reflecting their strategic pivot.

Physical branch network across the Western U.S. (Washington, Oregon, California, etc.).

WaFd Bank maintains a tangible footprint, which is key for relationship-based commercial banking. As of the quarter ended June 30, 2025, the company operated 208 branches across 9 western states. These states include Washington, Oregon, Idaho, Utah, Arizona, Nevada, and California, where they entered the market via the LBC merger on March 1, 2024. This physical network is central to their goal of delivering concierge-level customer service, ensuring 'everyone and every business deserves a WaFd banker'.

Robust online and mobile banking platforms for all clients.

The bank supports its physical presence with digital access. They offer 24/7 online & mobile banking features, including mobile check deposit. Management has been focused on technology investment, including bringing in-house its custom online, mobile, and digital account opening technology previously handled by Archway Software. This digital push supports their strategic clarity and conservative financial management.

Commercial lending officers and specialized business development teams.

The channel for delivering credit solutions is heavily weighted toward business banking now. The organizational structure includes dedicated Business Banking and Commercial Real Estate Banking Segments. This focus is evidenced by the 103% increase in new loan originations quarter-over-quarter in fiscal 2025, signaling success in pivoting to new growth areas. Furthermore, WaFd Bank was designated as a Preferred Lender by the U.S. Small Business Administration, allowing them to process SBA-guaranteed loans more efficiently.

ATMs and third-party payment networks for transactional access.

For day-to-day transactions, clients have access to Thousands of FEE-FREE ATMs. While the exact number of owned ATMs isn't specified, the network access is a core part of their service offering.

Here's a quick look at the financial performance tied to these channels for fiscal year 2025, which shows the results of their channel strategy:

Metric	Value (As of FY 2025 End or Q4 2025)
Total Assets	$26.7 billion (As of September 30, 2025)
Total Annual Loan Originations	$4.0 billion (Fiscal Year 2025)
Net Interest Margin (NIM)	2.71% (Q4 2025)
Efficiency Ratio	56.82% (Q4 2025)
Non-Interest-Bearing Deposits (Q4 2025)	12% of total deposits
WaFd Insurance Revenue	$19.5 million (Fiscal Year 2025)

The strategic shift is clear: they are building out the commercial side, aiming for 20% non-interest-bearing deposits by 2030 to lower funding costs. The active loan portfolio is expected to grow between 8%-12% in fiscal 2026, which is the direct result of their commercial lending channel execution. Finance: draft the Q1 2026 channel utilization report by February 15.

Washington Federal, Inc. (WAFD) - Canvas Business Model: Customer Segments

Washington Federal, Inc. (WAFD) finished fiscal year 2025 with a clear focus on business banking, a strategic pivot away from its historical reliance on single-family residential mortgage lending. This shift directly shapes the primary customer segments Washington Federal, Inc. (WAFD) serves today.

The commercial lending focus means that Small-to-medium enterprises (SMEs) seeking Commercial & Industrial (C&I) and equipment financing, alongside Commercial Real Estate (CRE) investors and developers, form the core of the lending side of the business.

Here's a look at the loan portfolio composition that reflects this focus as of September 30, 2025:

Loan Category	Percentage of Net Loan Portfolio (as of 9/30/2025)	Total Net Loans (as of 9/30/2025)
Commercial Loans	59.5%	$20.1 billion
Consumer Loans (Total)	40.5%	$20.1 billion

The commercial loan segment itself is disaggregated into classes that directly serve the business segments you mentioned:

• Multi-family
• Commercial Real Estate
• Commercial and Industrial
• Construction
• Land acquisition and development

The origination mix for fiscal year 2025 further emphasizes this business-first approach:

• Commercial loans represented 83% of all loan originations during fiscal 2025.
• Consumer loans accounted for the remaining 17% of all loan originations in fiscal 2025.

For the deposit-gathering side, which supports all lending activities, the segments are defined by the type of account they hold. The focus on businesses has successfully shifted the deposit mix:

• General consumers and individuals needing core deposit accounts are served through transaction accounts, which grew to represent 35% of total deposits over the year.
• Core deposits, defined as all transaction accounts and time deposits less than $250,000, totaled 77.9% of all deposits as of September 30, 2025.
• Total customer deposits stood at $21.4 billion as of September 30, 2025.

Affluent individuals and families utilizing wealth and trust services are a distinct segment, though specific Assets Under Management (AUM) for this division weren't explicitly detailed in the latest reports. However, the bank's broader commitment to its franchise includes:

• The insurance subsidiary delivered a 53% year-over-year growth in profit in Q2 2025.
• Over $125 million dollars were invested towards community development lending and affordable housing investments as of March 31, 2025.

Finance: draft 13-week cash view by Friday.

Washington Federal, Inc. (WAFD) - Canvas Business Model: Cost Structure

You're looking at the expenses Washington Federal, Inc. (WAFD) is managing as it aggressively shifts its business model from a traditional thrift to a commercial bank. The cost structure is heavily influenced by funding costs and strategic reinvestment in the business.

Interest Expense on deposits and borrowings remains a foundational cost. You saw the benefit of managing this in Q4 2025, where the net interest margin improvement was driven by the reduction in interest paid on liabilities outpacing the reduction in interest earned on assets by 3 basis points in the quarter ended September 30, 2025. This cost management is key to the Build 2030 strategy, which targets 20% non-interest-bearing deposits by 2030 to lower overall funding costs. As of September 30, 2025, borrowings stood at $1.8 billion, a significant reduction from $3.3 billion at September 30, 2024, and the effective weighted average interest rate on those borrowings had dropped to 2.5% from 3.9% a year prior.

The overall operating cost base is captured by Non-Interest Expense. While the outline suggests a figure of approximately $313.7 million for fiscal 2025, the sum of the reported quarterly GAAP expenses paints a clearer picture of the actual spend across the four quarters:

Expense Component	Fiscal 2025 Q1 Expense (Millions USD)	Fiscal 2025 Q4 Expense (Millions USD)	Fiscal 2025 Full Year (Calculated Total, Millions USD)
Non-Interest Expense (GAAP Sum)	$111.3	$107.0	$427.4
Provision for Credit Losses (Q4 Only)	$0.0	$3.0	(Not included in Non-Interest Expense sum)

Compensation and benefits are a direct cost tied to the workforce, which supports the branch network of 208 branches across nine western states as of Q4 2025. The employee base is substantial, with a recent figure showing 2.0k employees as of September 29, 2025, satisfying the requirement for over 2,000 personnel. Strategic investments in people were cited as a driver for the 2.6% sequential increase in non-interest expense in Q4 2025.

Technology and data processing investments are embedded within the Non-Interest Expense line, specifically noted as part of the strategic investments in Q4 2025, which drove increases in Information Technology expenses. This aligns with the earlier strategic move in Q1 2025 to restart the wholly owned technology subsidiary, Pike Street Labs, to bring custom online, mobile, and digital account opening technology in-house.

The Provision for credit losses is a variable, risk-related cost. For the final quarter of fiscal 2025 (Q4 2025, ended September 30, 2025), Washington Federal, Inc. recorded a provision of $3.0 million. This was a net result of mixed credit metrics, including increasing trends in negative migration of delinquent and nonperforming loans.

Key cost drivers and related metrics include:

• Non-Interest Expense for Q4 2025 was $107.0 million.
• The efficiency ratio for Q4 2025 was 56.82%.
• The allowance for credit losses (ACL) stood at $221 million as of September 30, 2025.
• Net charge-offs for fiscal year 2025 totaled $11.8 million.

Finance: draft 13-week cash view by Friday.

Washington Federal, Inc. (WAFD) - Canvas Business Model: Revenue Streams

You're looking at the core earnings engine for Washington Federal, Inc. (WAFD) as of late 2025. The entire model is built around generating income from its balance sheet, which has seen a significant strategic pivot this year.

Net Interest Income (NII) remains the primary revenue stream, driven by the loan portfolio. This is the difference between the interest earned on assets, like loans, and the interest paid on liabilities, like deposits and borrowings. For the fourth fiscal quarter of 2025, Washington Federal, Inc. reported NII of $169.9 million. This quarterly performance reflected an improving net interest margin, which stood at 2.71% in Q4 2025, up from 2.69% in the prior quarter. The yield on the loan portfolio at the end of the fiscal year, September 30, 2025, was 5.38%. This NII generation is directly supported by the strategic shift; commercial loans represented 83% of all loan originations during fiscal year 2025.

The overall profitability picture for the full fiscal year 2025 shows strong results from this core activity. Full fiscal year 2025 Net Income was $226.1 million, which represented a 13% increase year-over-year.

Non-Interest Income provides a necessary balance to the interest-based earnings. For the fourth fiscal quarter of 2025, total non-interest income was $18.4 million. This stream is composed of several distinct sources, reflecting the diversification efforts, including the growth of the insurance subsidiary and fee-based services.

Here is a breakdown of the key revenue-generating components we can quantify from the latest reports:

Revenue Component	Latest Reported Amount	Period/Date
Full Fiscal Year 2025 Net Income	$226,068,000	FY Ended Sept 30, 2025
Net Interest Income (NII)	$169.9 million	Q4 Fiscal 2025
Total Non-Interest Income	$18.4 million	Q4 Fiscal 2025
WaFd Insurance Revenue	$19.5 million	Fiscal Year 2025
Total Investments and Mortgage-Backed Securities	$279 million	As of September 2025

The components of Non-Interest Income include several fee-based services that Washington Federal, Inc. is emphasizing as part of its business banking focus. While the exact FY 2025 total for all fees isn't explicitly stated as the suggested $50.3 million, we know the categories that contribute:

• Deposit Fees, which are a key component of non-interest income.
• Insurance Commissions, with the subsidiary reporting $19.5 million in revenue for the full fiscal year 2025.
• Commercial loan fees, which naturally increase as the bank focuses on business lending, evidenced by the 83% commercial loan origination mix.
• Treasury management service charges, which support the commercial client base.

Income from the investment securities portfolio is also a recognized revenue stream. As of the end of September 2025, total investments and mortgage-backed securities stood at $279 million. This portfolio is strategically managed, with the company noting a reallocation of runoff from single-family mortgage lending into agency MBS for what management views as higher yield and lower risk.

To be fair, the shift to business banking means that fee income from commercial loan activities and treasury management services is expected to grow, but the most concrete, recent numbers we have for the non-interest side are the Q4 total of $18.4 million and the FY 2025 insurance revenue of $19.5 million. Finance: draft Q1 2026 revenue projection based on 8%-12% loan growth outlook by next Tuesday.