Bailout Bank Bio: Washington Federal Inc

Jan 27, 2009 | 2 min read | Print Article

Update

The company recently announced that it had re-purchased its preferred stock from the Treasury Department. Washington Federal paid $200 million to reclaim the stock. Updated 6-5-09

Washington Federal, Inc. is a non-diversified unitary savings and loan holding company that conducts its operations through a federally insured savings and loan association subsidiary, Washington Federal Savings. In February 2008, Washington Federal completed its acquisition of First Mutual Bancshares, Inc. The company has 148 full service branches located in Washington, Oregon, Idaho, Arizona, Utah, Nevada, New Mexico, and Texas, and is headquartered in Seattle, Washington. On November 14, 2008 Washington Federal received $200 million from the Treasury Department through the Capital Purchase Program, in exchange for 200,000 shares of the Company’s Fixed Rate Cumulative Perpetual Preferred Stock, Series A. The company returned the funds in full on May 27, 2009.

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Bailout Bank Bio: Washington Federal, Inc.


Federal Equity Investment	$200 million
Total Revenue	$729.98 million (2007)
Net Income	$62.33 million (2007)
Number of Employees	1,056
Corporate Headquarters	Seattle, Washington
Business Sector	Financial
Officers and Directors	Whitehead, Roy, Chairman of the Board, President, Chief Executive Officer Other Officers and Directors
Corporate Website	http://www.washingtonfederal.com
Executive Compensation	Washington Federal, Inc.