Wafd, Inc. · NASDAQ:WAFD
Wafd — Washington Federal — Shareholder Meeting (February 2023)
26 slides from Wafd's shareholder meeting presentation, Feb 17, 2023
Slide 1: Annual Shareholder Meeting February 14, 2023
Annual Shareholder Meeting February 14, 2023
Slide 2: Executive Management Committee
Executive Management Committee 2 Kelli Holz EVP, Chief Financial Officer Brent Beardall President and Chief Executive Officer Ryan Mauer EVP, Chief Credit Officer Cathy Cooper EVP, Chief Consumer Banker Kim Robison EVP, Chief Operating Officer James Endrizzi EVP, Chief Commercial Banker
Slide 3: Board of Directors
Board of Directors Brent Beardall Stephen M. Graham David Grant Mark N. Tabbutt Randy H. Talbot Steve Singh Linda Brower Sylvia Hampel Sean Singleton Shawn Bice 3
Slide 4: 2023 Annual Meeting Business
4 The annual report and proxy are at www.wafdbank.com or request a physical copy by emailing info@wafd.com . Anyone who wishes to revoke their proxy or who hasn’t voted must click on the “Vote Now” screen during this meeting prior to closing of the polls. Have your 16‐digit control number handy. If
Slide 5: 2023 Annual Meeting Business: Proposals
5 1. To elect three directors for a three‐year term ending in 2026, or until their successors are elected and qualified; 2. To consider and approve the Non‐Qualified Employee Stock Purchase Plan and to authorize for issuance under the plan a total of 500,000 shares of WaFd common stock; 3. To consid
Slide 6: Highlights for Fiscal 2022
Highlights for Fiscal 2022 Record loan production of over $8.7 billion Superb asset quality – highlighted by nine consecutive years of net recoveries Total deposits of $16.0 billion – weighted average rate of 0.51% 9.5% Growth in tangible book value per share Record Earnings to common shar
Slide 7: Asset Mix
Asset Mix As of September 30, 2012 As of September 30, 2022 Consumer Loans 7% $ 12.4 Billion $ 20.7 Billion <8 WaFdBank ;
Slide 8: Loan Originations
Loan Originations $ in millions 8
Slide 9: Loan Repayments
Loan Repayments $ in millions 9
Slide 10: Net Loans Outstanding
Net Loans Outstanding $ in millions 10
Slide 11: Net Loan Charge-Offs (Recoveries)
Net Loan Charge‐Offs (Recoveries) ($ in millions) $ in millions 11
Slide 12: Non-Performing Assets Near Record Lows
Non‐Performing Assets Near Record Lows We have retained a strong ACL while NPAs have declined since 2010 • ACL at 9/30/2022 amounted to $172.8 million, representing 388% of total NPAs 1 • Non‐performing assets $44.5 million as of 9/30/2022 • Delinquent Loans $27 million or 0.17% of Net Loans as of 9
Slide 13: Total Deposits
Total Deposits $ in millions 13
Slide 14: Deposits Mix
Deposits Mix As of September 30 2012 As of September 30 2022 Interest checking, 7% Time Deposits, 21% = 8 WaFdBank “
Slide 15: Client Service Matters: Net Promoter Score Reflects Customer Sentiment
(41) (24) (12) (6) (1) 3 15 44 75 Client Service Matters Net Promoter Score Reflects Customer Sentiment 15 Our investments in customer service, usability and technology are translating into high customer satisfaction levels Source: Customer Guru WaFdaa Net Promoter Score 1 17 34 48 51 48 44 2017 201
Slide 16: Capital Ratios
Capital Ratios WaFd Bank does not seek to maximize leverage. Rather, we aspire to be a bank that can weather the storm that will inevitably come. Consistency, in good times and bad, is a differentiator. Tier 1 (Core) Leverage Common Equity Tier 1 Risk Based Tier 1 Risk Based Total Risk‐Based Wafd Ba
Slide 17: Net Interest Income and Rate Spread
Net Interest Income and Rate Spread Net Interest Income ‐ $ in millions $595 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% $0 $100 $200 $300 $400 $500 $600 $700 17
Slide 18: Operating Expenses
Operating Expenses Expenses (Sin Millions) | 2014 2013 2017 2018 2019 jm Compensation mm Occupancy, net Otherexpense —= Efficiency Ratio = 8 WaFdBank
Slide 19: Earnings Per Common Share
Earnings Per Common Share $0.46 $2.61 $3.39 $0.00 $0.50 $1.00 $1.50 $2.00 $2.50 $3.00 $3.50 $4.00 19
Slide 20: Stock Price and Book Value per Share
Stock Price and Book Value per Share $0 $5 $10 $15 $20 $25 $30 $35 $40 $45 Stock Price Book Value per Share 20
Slide 21: Total Shareholder Return Since IPO in 1982
40 Years Since IPO in 1982 Total Shareholder Return > 33,000%, as of 10/31/2022 21
Slide 22: Subsequent Events
Subsequent Events IK WaFd Bank Luther Burbank Corporation 425 Pike Street SEATTLE, WASHINGTON www.wafdbank.com 520 Third Street SANTA ROSA, CALIFORNIA www. lutherburbanksavings.com Company Release — 11/13/2022, 6:00 PM PST WASHINGTON FEDERAL, INC. AND LUTHER BURBANK CORPORATION ANNOUNCE DEFINITIVE M
Slide 23: What To Expect in 2023?
What To Expect in 2023? Challenging environment given the rapid increase in rates and current inverted yield curve Intentionally slowing growth Build on our momentum… “culture of regulatory compliance” Do the little things the big banks are not doing to serve clients Launch Voice authentic
Slide 24: Thank you to our clients and the 2,100 bankers
Thank you to both our clients and the 2,100 bankers that made these results possible. We believe our future is as bright today as it has ever been. 24
Slide 25: Q&A
Q&A Please type your questions in the chat window.
Slide 26: WaFd Bank - Thank you
WaFd Bank Thank you. Enjoy 2023. es ro AMERICA’ ‘Ss EMELOTERS wate PE tees co CxS lf senice i @ 07
Washington Federal — Shareholder Meeting (February 2023) on 6ix