WaFd Bank Completes Sale of $2.8 Billion in Multi-Family Loans
WaFd, Inc. (WAFD)
Last wafd, inc. earnings: 4/21 07:00 pm
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US:NASDAQ Investor Relations:
washingtonfederal.com/investor-relations/overview
Company Research
Source: Business Wire
SEATTLE--(BUSINESS WIRE)--Washington Federal Bank ("WaFd Bank" or the "Bank"), the wholly owned subsidiary of WaFd, Inc. (Nasdaq: WAFD) (the "Company"), today announced the consummation of the sale of approximately $2.8 billion of multifamily commercial real estate loans (“CRE”) to Bank of America, which in turn is selling the loans to funds managed by Pacific Investment Management Company LLC (“PIMCO”). To our knowledge, this represents the largest non-FDIC assisted CRE loan sale ever. The sale of the multi-family loans was executed at no loss to WaFd and provides immediate liquidity going forward.WaFd Bank President and CEO Brent Beardall stated, “This should prove to the investment community that the sky is not falling when it comes to CRE loans. These are high quality loans and we believe the purchase price is reflective of the low amount of credit risk in the portfolio. Further, this sale was executed at 92-percent of principal balance. That discount is almost entirely attrib
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WAFD
Earnings
- 4/22/24 - Miss
WAFD
Sec Filings
- 6/27/24 - Form 11-K
- 6/21/24 - Form 8-K
- 5/22/24 - Form 4
- WAFD's page on the SEC website