WaFd Bank wins CRA appeal, rating raised to Satisfactory

WaFd, Inc. announced that its banking subsidiary, WaFd Bank, successfully appealed its Community Reinvestment Act (CRA) rating with the Federal Deposit Insurance Corporation’s Supervision Appeals Review Committee.

Rhea-AI Filing Summary

WaFd, Inc. announced that its banking subsidiary, WaFd Bank, successfully appealed its Community Reinvestment Act (CRA) rating with the Federal Deposit Insurance Corporation’s Supervision Appeals Review Committee. As a result of the appeal decision, the Bank’s lending test component rating was upgraded from “Needs to Improve” to “Low Satisfactory.”

This change also elevated WaFd Bank’s overall composite CRA rating from “Needs to Improve” to “Satisfactory.” The company disclosed this development via a press release dated January 21, 2026, which is included as an exhibit. The filing also reiterates that statements about future results are subject to risks and uncertainties described in the company’s prior SEC reports.

Positive

• Successful CRA appeal and rating upgrade: WaFd Bank’s lending test rating was raised from “Needs to Improve” to “Low Satisfactory,” and its overall CRA rating improved to “Satisfactory,” reducing regulatory and reputational risk around its community lending record.

Negative

• None.

Insights

Bank regulatory and credit-risk analyst

WaFd Bank’s CRA rating was upgraded to Satisfactory after a successful appeal.

The key development is that WaFd Bank prevailed on its appeal of its Community Reinvestment Act rating before the FDIC’s Supervision Appeals Review Committee. The lending test rating moved from “Needs to Improve” to “Low Satisfactory,” and the overall CRA rating improved from “Needs to Improve” to “Satisfactory.” For a regulated bank, CRA ratings can influence regulatory perceptions and are often considered in connection with expansion activities.

The upgrade removes the prior “Needs to Improve” designation, which can be viewed as an operational and regulatory risk overhang. While the filing does not quantify financial effects, it clarifies the Bank’s standing in this key compliance area. Future company filings and regulatory interactions will show how this improved rating aligns with WaFd Bank’s strategic plans and ongoing community lending performance.

8-K Event Classification

2 items: 7.01, 9.01

2 items

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What regulatory change did WAFD report in this 8-K filing?

WAFD reported that its subsidiary WaFd Bank prevailed on its appeal of its Community Reinvestment Act rating before the FDIC’s Supervision Appeals Review Committee, resulting in an upgrade of both its lending test and overall composite CRA ratings.

How did WaFd Bank’s CRA rating change according to the filing for WAFD?

WaFd Bank’s CRA lending test rating was upgraded from “Needs to Improve” to “Low Satisfactory”, and its overall composite CRA rating was raised from “Needs to Improve” to “Satisfactory.”

When did WaFd Bank’s CRA appeal decision occur for WAFD?

The filing states that on January 16, 2026, WaFd Bank prevailed on its appeal of its CRA rating to the FDIC’s Supervision Appeals Review Committee.

How did WAFD communicate the CRA rating upgrade to the public?

WAFD issued a press release on January 21, 2026, announcing the CRA rating upgrade for WaFd Bank. This press release is included as Exhibit 99.1 and incorporated by reference.

Does the WAFD filing include any forward-looking statements?

Yes. The filing notes that it contains forward-looking statements based on management’s current assumptions and highlights that actual results may differ due to risks and uncertainties described under “Risk Factors” in WAFD’s Annual Report on Form 10-K for the year ended September 30, 2025, and other SEC reports.

Which securities of WAFD are listed on the NASDAQ Stock Market?

The filing lists WAFD’s Common Stock, $1.00 par value per share (symbol: WAFD) and Depositary Shares, each representing a 1/40th interest in a share of 4.875% Fixed Rate Series A Non-Cumulative Perpetual Preferred Stock (symbol: WAFDP) as registered on the NASDAQ Stock Market.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 01/22/2026 - 12:34 PM Learn about SEC filing dates

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

____________________________________

FORM 8-K

____________________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 21, 2026

 ____________________________________

WAFD, INC.

(Exact name of registrant as specified in its charter)

 ____________________________________

Washington

001-34654

91-1661606

(State or other jurisdiction of incorporation or organization)

(Commission File Number)

(I.R.S. Employer Identification No.)

425 Pike Street

Seattle

Washington

98101

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s telephone number, including area code (206) 624-7930

Not Applicable

(Former name or former address, if changed since last report)

____________________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class

Trading Symbol

Name of each exchange on which registered

Common Stock, $1.00 par value per share

WAFD

NASDAQ Stock Market

Depositary Shares, Each Representing a 1/40th Interest in a Share of 4.875% Fixed Rate Series A Non-Cumulative Perpetual Preferred Stock

WAFDP

NASDAQ Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01 Regulation FD Disclosure

On January 21, 2026, WaFd Bank, a federally insured Washington state chartered commercial bank (the “Bank”), and the wholly owned subsidiary of WaFd, Inc. (the “Company”), issued a press release announcing that on January 16, 2026, the Bank prevailed on its appeal of its Community Reinvestment Act (“CRA”) rating to the Supervision Appeals Review Committee (“SARC”) of the Federal Deposit Insurance Corporation. As a result of the decision by the SARC, the Bank’s rating for the lending test component of its CRA examination was upgraded from “Needs to Improve” to “Low Satisfactory” and its overall composite CRA rating was elevated from “Needs to Improve” to “Satisfactory.” A copy of the press release is furnished as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(d) The following exhibits are being furnished herewith:

Exhibit 99.1    Press Release, dated January 21, 2026

Exhibit 104    Cover Page Interactive Data File (embedded within with Inline XBRL)

Important Cautionary Statements

This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this Current Report on Form 8-K that do not relate to matters of historical fact should be considered forward-looking statements. These statements are based on management’s current assumptions and are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. For important factors that could cause actual results to differ materially from the forward-looking statements in this Current Report on Form 8-K, please see the risks and uncertainties identified under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended September 30, 2025, and our other reports filed with the SEC which are available on the SEC website at www.sec.gov. All forward-looking statements reflect the Company’s beliefs and assumptions only as of the date of this Current Report on Form 8-K. The Company undertakes no obligation to update forward-looking statements to reflect future events or circumstances.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

January 22, 2026

WAFD, INC.

By:

/s/ KELLI J. HOLZ

Kelli J. Holz

Executive Vice President and Chief Financial Officer

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