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Q2 2026 · read from the 30 June 2026 Call Report · United States · Pacific · Washington, the state note

Wafd Bank

Seattle, Washington · $27.58B in assets · beside the 11 other the Pacific states banks over $10B (the state alone holds too few in the band to rank)

The filing

-1.2%
Loans, year over year
11th of 12, largest first
332.1%
CRE / capital
11th of 12
96.1%
Loans / deposits
10th of 12

Wafd Bank is the third largest of the 12 the Pacific states banks nearest its size over $10B, with $27.58B in assets at 30 June 2026. Loans are 96.1% of deposits, 10th of 12 against a median of 81.6%, and equity is 11.0% of assets, 9th of 12. Loans grew -1.2% in the year, 11th of 12, and deposits fell 2.1%; the cohort's median loan growth is +2.6%.

Noncurrent loans are 0.63% of the book, 9th of 12 against a median of 0.45%; 0.15% is 30 to 89 days past due, and the allowance covers them 1.7 times. Commercial real estate is 44.8% of loans, 9th of 12 against a median of 39.9%, and 332% of capital, above the 300% screen, with construction at 49% against the 100% screen.

Return on assets is 0.98%, 8th of 12 against a median of 1.02%, on an efficiency ratio of 53.5%, 5th of 12. Five years ago it was 0.95%. The question is what the concentration does under a commercial real estate stress, and how much of it is owner-occupied (owner-occupied nonresidential is 5.6% of loans).

Commercial real estate against capital, the 300% screenPacific states banks over $10B · 30 June 2026 · lower is stronger, listed first
median 263% Bo Bank of America Ca N.A. 0% Bo Bank of Hawaii 186% AB Axos Bank 188% FH First Hawaiian Bank 189% BB Banner Bank 253% FM Farmers & Merchants Bank Long Be 255% Bo Bank of Hope 271% CB Cathay Bank 272% CB Citizens Business Bank N.A. 281% Bo Banc of California 291% WB Wafd Bank 332% MB Mechanics Bank 340%
Loans, year over yearPacific states banks over $10B · 30 June 2026 · no better direction, largest first
median +2.6% MB Mechanics Bank +46.9% CB Citizens Business Bank N.A. +43.8% AB Axos Bank +24.6% CB Cathay Bank +4.1% Bo Bank of Hope +4.1% FM Farmers & Merchants Bank Long Be +2.7% BB Banner Bank +2.5% Bo Bank of Hawaii +2.1% Bo Banc of California +1.7% FH First Hawaiian Bank +1.6% WB Wafd Bank -1.2% Bo Bank of America Ca N.A. -12.3%

SBA 7(a), FY2008 to FY2026

Wafd Bank is the 84th largest 7(a) lender into Oregon of 255, with $7M across 60 loans, 0.1% of everything approved in the state (Columbia Bank leads with $706M). 5 of its 77 markets have had no approvals since before FY2023: an absence in the record, not a stated withdrawal.

Where it lends in Oregon, and where it has gone quietshare movement, FY2023 to FY2025 against FY2020 to FY2022; outlined counties are on the book
Gaining shareLosing shareFlatGone quiet: nothing since FY2023Too thin to read a directionNo record
Every market on the book, largest firstrank and share among every lender in the county, FY2008 to FY2026
CountyApprovedRankShareTrend
Maricopa, AZ$3M143rd of 3030.0%thin
Multnomah, OR$2M61st of 1400.1%thin
Clark, WA$2M53rd of 1140.3%thin
Klamath, OR$2M8th of 403.1%thin
King, WA$1M131st of 1930.0%thin
Clackamas, OR$983K73rd of 1210.1%thin
Whatcom, WA$851K47th of 760.2%quiet FY2008
Jackson, OR$673K51st of 780.2%thin
Ada, ID$595K93rd of 1330.1%thin
Thurston, WA$578K70th of 960.1%thin
Los Angeles, CA$418K267th of 3080.0%thin
Skagit, WA$414K52nd of 670.2%thin
Pierce, WA$411K116th of 1370.0%thin
64 smaller markets not shown.
What it lends to: the five largest industries on the bookshare of book is concentration; share of sector and rank are position, among every 7(a) lender nationally
IndustryLoansApprovedShare of bookShare of sectorRank
Manufacturing26$4M19.5%0.01%758th of 2,246
Arts, entertainment & recreation9$3M14.1%0.02%465th of 1,656
Wholesale trade8$3M13.3%0.01%591st of 1,651
Construction41$3M12.6%0.01%797th of 2,063
Other services33$2M10.6%0.01%812th of 2,248
7(a) lenders into Oregon, share of approvals since FY2008255 lenders on record; the ten largest and Wafd Bank
CB Columbia Bank 11.5% $706M · 2,806 loans UB U.S. Bank, National Association 9.0% $550M · 3,368 loans WF Wells Fargo Bank National Associa… 8.6% $528M · 1,401 loans Bo Banc of California 6.9% $426M · 288 loans LO Live Oak Banking Company 5.6% $344M · 293 loans KN KeyBank National Association 5.5% $338M · 958 loans RL Readycap Lending, LLC 3.5% $212M · 242 loans BB BMO Bank National Association 2.7% $168M · 190 loans CB Celtic Bank Corporation 2.6% $163M · 210 loans EB Enterprise Bank & Trust 2.6% $159M · 142 loans WB Wafd Bank 0.1% $7M · 60 loans

Commercial real estate against capital

Commercial real estate concentrationthe 2006 interagency screens against total risk-based capital; owner-occupied excluded; bold marks a screen met
Wafd BankRankCohort median
Total CRE against capital, the 300% screen332%11th of 12263%
Construction against capital, the 100% screen49%10th of 1223%
Construction and land development, share of loans6.6%10th of 124.1%
Non-owner-occupied nonfarm nonresidential, share of loans15.3%5th of 1217.3%
Total CRE, the guidance definition, share of loans44.8%9th of 1239.9%
CRE growth over 36 months, the third prong+13.3%9th of 11+12.0%

Among its peers

Where it sits among its peersnavy: the stronger half of each column; amber: the weaker; darker at the ends
InstitutionAssetsROAEfficiencyNPA / loansNet charge-offsAllowance / loansLoans / depositsEquity / assets
Banc of California$34.90B-0.9%63.7%2.34%1.39%1.0%89.0%10.8%
Axos Bank$28.87B2.1%43.1%0.44%0.09%1.1%100.5%9.7%
Wafd Bank$27.58B1.0%53.5%0.63%0.02%1.1%96.1%11.0%
Cathay Bank$24.64B1.5%40.3%0.54%0.04%1.1%97.6%12.6%
Bank of Hawaii$23.81B1.0%58.0%0.18%0.06%1.0%68.2%7.5%
First Hawaiian Bank$23.65B1.2%55.2%0.30%0.12%1.2%72.3%11.9%
Mechanics Bank$21.25B1.0%62.3%0.41%0.11%1.1%75.1%13.3%
Citizens Business Bank N.A.$21.18B1.0%52.9%0.14%0.00%1.1%73.2%14.7%
Bank of Hope$18.99B0.7%64.2%0.88%0.26%1.0%94.4%12.4%
Banner Bank$16.59B1.3%60.2%0.46%0.02%1.3%86.6%11.9%
Bank of America Ca N.A.$14.81B0.7%43.0%0.66%-0.02%0.1%76.7%13.1%
Farmers & Merchants Bank Long Be$11.77B1.0%60.6%0.01%-0.03%1.3%75.7%13.9%
Five years, 2021 to 2026same quarter, five years apart; dollars as growth, ratios in points
Wafd BankCohort median
20212026Change20212026Change
Loans$13.64B$20.24B+48%$11.82B$14.43B+22%
Deposits$15.46B$21.05B+36%$15.72B$19.13B+22%
NPA / loans0.25%0.63%+0.38 pts0.30%0.45%+0.15 pts
Efficiency60.7%53.5%-7.1 pts51.9%56.6%+4.7 pts
ROA0.95%0.98%+0.03 pts1.21%1.02%-0.20 pts

This read was prepared for Wafd Bank's board and management from the public record, and is one slice of what Lynx builds for any bank from its own filing: the peer cohort, the capital, liquidity and rate models with the assumptions the institution sets, and a summary report of twenty sections for the board.

The full pack on Wafd Bank is prepared on request, and thirty days on the institution's own numbers are open to anyone at the bank.

Ask for the pack

Prepared 7 September 2026
Filing 30 June 2026
Cohort Pacific states banks over $10B
Institution www.wafdbank.com

Public record only: FFIEC Call Report, 30 June 2026; FDIC data; cohort by New England and asset band; SBA 7(a) FOIA release as of the 2026 file, loans credited to the institution holding them today. Computed from the institution's own Call Report and its peers' as published; no estimate, no adjustment; not a rating, not an audited statement and not a supervisory judgement.
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