Washington Federal, Inc. · Seattle, WA United States ·(NASDAQ (GS): WFSL)
Company Description
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This link will open in a new window Washington Federal is the holding company for Washington Federal Savings, which operates about 150 branches in eight western states. The thrift, which was founded in 1917, collects deposits from consumers and business by offering standard products such as CDs, IRAs, and checking, savings, and money market accounts. With these funds, the company mainly originates single-family residential mortgages, which account for about 70% of its loan portfolio. The bank also writes construction, land, and multifamily residential loans. Washington Federal sells life, home, and auto coverage through its First Insurance Agency subsidiary. To read the full description, subscribe now.
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Key Washington Federal, Inc. Financials
| Company Type | Public - NASDAQ (GS): WFSL Headquarters |
| Fiscal Year-End | September |
| 2009 Sales (mil.) | $392.2 |
| 2008 Employees | 1,095 |
Washington Federal, Inc. Executives
46 executives listed for Washington Federal, Inc.'s Seattle, WA location.
| Title | Name & Bio | Contact |
| Chairman, President, and CEO | Roy Whitehead | Network |
| EVP and CFO | Brent Beardall | Network |
| EVP | Richard Collette | Network |
Competition
Competitive Landscape for Washington Federal, Inc.
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Washington Federal, Inc. Competitors
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