Market Overview

Washington Federal Responds to Tax Reform with Accelerated Investments in Employees, Technology and Community Development

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Washington Federal, Inc. (NASDAQ:WAFD) today announced with the signing
of tax reform legislation, the Bank will accelerate strategic
investments in its employees, client service capabilities and community
development funding. Specifically, effective when the bill becomes law
all Washington Federal employees in good standing and earning less than
$100,000 per year will receive a 5% increase on top of their normal
merit increase. In addition, a substantial investment will be made in
the training and development of all employees, enabling them to upgrade
their skills to more effectively compete in today's rapidly changing
business environment. The training will focus on leadership, technology,
and client service skills.

Additionally, Washington Federal will accelerate its planned investment
in technology infrastructure to improve the client experience and create
efficiencies that will keep the overall cost of our products and
services low. Important upgrades to the Bank's online consumer and
commercial banking platforms will be undertaken and, consistent with the
changing ways our clients transact business, new investments will also
include the establishment of a second technology hub in Boise, Idaho and
an increase in technology staff of 25%.

Finally, the bank will contribute an additional $5 million dollars over
the next five years to the Washington Federal Foundation. The objective
of the foundation is to support low and moderate-income individuals in
our communities through direct contributions to not-for-profits focused
on housing, senior care and improving financial literacy.

Washington Federal President & CEO Brent Beardall commented, "We have
argued for years that our tax system is unfair and heavily biased
towards non tax-paying competitors such as credit unions and
governmental entities. We feel it is our responsibility in this moment
to do our part to spur economic growth and strengthen our communities.
While the imbalance remains, the new tax law does provide relief that
will allow Washington Federal to more aggressively pursue capital
investments such as those outlined above with ongoing benefits for
employees, clients and shareholders alike."

Washington Federal is a national bank holding company that operates 237
branches in Washington, Oregon, Idaho, Utah, Arizona, Texas, Nevada and
New Mexico. It has been servicing customers for over 100 years, been
publicly traded since 1982 and is in its 139th consecutive quarter of
paying dividends. The bank provides consumer and commercial deposit
accounts, financing for small to middle market businesses, commercial
real estate and residential real estate, including consumer mortgages,
home equity lines of credit and insurance products through a subsidiary.
As of September 30, 2017, the Company reported $15.3 billion in assets,
$10.8 billion in deposits and $2 billion in stockholders' equity.

Important Cautionary Statements

The foregoing information should be read in conjunction with the
financial statements, notes and other information contained in the
Company's 2017 Annual Report on Form 10-K, Quarterly Reports on Form
10-Q and Current Reports on Form 8-K.

This press release contains statements about the Company's future that
are not statements of historical fact. These statements are
"forward-looking statements" for purposes of applicable securities laws,
and are based on current information and/or management's good faith
belief as to future events. The words "believe," "expect," "anticipate,"
"project," "plan" and similar expressions signify forward-looking
statements. Forward-looking statements should not be read as a guarantee
of future performance or financial condition. By their nature,
forward-looking statements involve inherent risk and uncertainties,
which change over time; and actual performance, could differ materially
from those anticipated by any forward-looking statements. The Company
undertakes no obligation to update or revise any forward-looking
statement.

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