Deposit Acquisition Fact Sheet As of January 23, 2014

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Forward Looking Statements:

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of

1995. Such statements are based upon the current beliefs and expectations of Washington Federal's management and are subject to significant risks and uncertainties. The forward- looking statements in this presentation speak only as of the date of the presentation, and Washington Federal assumes no duty, and does not undertake, to update them. Actual results or future events could differ, possibly materially, from those that we anticipated in these forward-looking statements.

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Expanding network in several key markets:

23 acquired branches

located in medium and

small communities of

Arizona and Nevada.

Branches by State:Arizona: 13

Nevada: 10

Green: WAFD existing branches

Red: B of A branches to be acquired

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Acquired Deposit Mix:

As of December 31.,2013

Weighted Average lnterest Rate of 0.12%

81% of Oeposits are Transaction Accounts

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Proforma Combined Deposit Mix:

Dollars in thousands, As of December 31, 2013

Acquired

Proforma

WAFD

Deposits (1)

Combined

Interest Checking

$ 1,227,548

$ 101,999

$ 1,329,547

Non-Interest Checking

674,824

143,029

817,853

Savings

542,573

46,868

589,441

Money Market

2,268,979

204,070

2,473,049

Time Deposits

5,688,802

113,892

5,802,694

$ 10,402,726

$ 609,859

$ 11,012,585

Weighted Average Interest Rate 0.61% 0.12% 0.58%

Transaction Accounts

45%

81%

47%

Time Deposits

55%

19%

53%

(1) Note: Balances shown are after 25% assumed decline in balances prior to closing

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Transaction Summary:

Transaction type: Acquisition of deposit liabilities, related performing loans,

and 23 branch properties at net book value and 41 ATM's

Deposits: Actual amount of deposits as of 12/31/13 is $813 million.

Based on prior experience, we are expecting a 25% decline
prior to closing. $813 million * 75% = $610M projected to
be acquired.

Premium: 1.30% of the deposits as of closing

Expected tangible book

value dilution: $0.07 per share

Expected tangible book

value dilution earn-back: 1 year after proceeds fully invested

Approvals required: Regulatory

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Transaction Summary:

Total loans: $3.8 million, weighted average rate of 6.9%.

Investment assumption: Earn back calculation based on investing net proceeds into a mix of high quality investments yielding ~ 3.05%.

Timing: Likely to close before June 30, 2014.

Cost savings: None. Expected to add staff and expense to service the higher transaction volumes associated with the low-cost deposits.

Earnings impact: Expected to be accretive to earnings once $200 million of the proceeds are invested.

Capital impact: Proforma tangible common equity to tangible asset ratio 11.19%.

Interest rate risk: Expected to reduce interest rate risk in a rising rate environment.

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Branch Listing:

Arizona:

Benson Bisbee Douglas Globe Nogales (2) Parker Payson Safford Show Low
Tohono O'dham
Yuma (2)

Nevada:

Beatty
Elko
Ely / McGill
Fallon
Fernley
Mesquite
Mineral County
Moapa
Pioche
Winnemucca

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Questions:

If you have additional questions please contact us directly at:

Washington Federal, Inc.

425 Pike Street, Seattle, WA 98101
Cathy Cooper , Senior Vice President
Investor Relations
206-777-8246
cathy.cooper@wafd.com

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NASDAQ: WAFD

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