SEATTLE, April 24, 2017 /PRNewswire/ -- Washington Federal (NASDAQ: WAFD) proudly celebrates its first 100 years in business today. In its first century, the bank has funded the bold visions of small businesses, national corporations and individual homeowners.
Founded in 1917 as a small neighborhood bank in Ballard, Washington, Washington Federal has grown to be one of the strongest banks in the U.S. Backed by 100 years of relationship-based service, the bank now operates 236 offices across eight states and serves retail, small business and commercial clients. With $15 billion in assets, Washington Federal has one of the highest capital ratios among the nation's 100 largest publicly traded banks.
"We are thrilled to celebrate our first 100 years in business and the partnerships we've established with all of our clients as we've grown from our humble start as a single branch in Ballard Washington to become one of the strongest commercial banks in the nation," said president and CEO Brent Beardall.
From the beginning, Washington Federal adopted a disciplined, no-nonsense approach to banking: taking deposits from local residents and making prudent loans that help people achieve their goals. That discipline has held for a century, and Washington Federal continues to evaluate opportunities through a long-term lens to ensure wise stewardship of its clients' funds and its shareholders' investments.
Washington Federal is committed to helping its communities grow and prosper, and that commitment includes seeing all its loans through from origination to repayment. "We are in the business of trust," said Beardall. "As a portfolio lender, when we make a loan our clients trust us to not only fund the loan but manage it for the life of the loan. To put a more human face on it, owning our own loans enabled us to keep 3,000 families in their homes during the Great Recession. We worked with homeowners who had temporarily fallen on hard times, and today 96 percent of those families are current on their mortgage payments."
Washington Federal's relationship-based service, culture of ownership and commitment to integrity have enabled the bank to grow and prosper through both the best and most economically challenging of times. "We're confident that the principles and practices that have made us successful during our first century will enable us to continue to thrive throughout our next 100 years and beyond," said Beardall.
Washington Federal will celebrate its centennial throughout its footprint. Festivities include Beardall ringing the Nasdaq opening bell in New York on April 24, as well as local events in all the bank's branches.
About Washington Federal
Washington Federal specializes in retail, small business and commercial banking. Founded in 1917, Washington Federal currently has approximately $15 billion in assets and operates 236 offices in Washington, Oregon, Idaho, Utah, Arizona, Texas, Nevada and New Mexico. For more information, please visit www.washingtonfederal.com.
SOURCE Washington Federal