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AI brief of an SEC Form 8-K · WaFd (WAFD)

WaFd Bank completes $2.8 billion multifamily loan sale to Bank of America

Neutral Impact 4 of 5 m&a Written later

WaFd Bank, a subsidiary of WaFd, Inc., closed its previously announced sale of about 1,800 commercial multifamily real estate loans to Bank of America on June 21, 2024, for an aggregate purchase price of $2.6 billion. The price equals 91.96% of the $2.8 billion unpaid principal balance, and the company says the sale was executed at no loss and provides immediate liquidity for shareholders to weigh.

Key points

  • Purchase price of $2.6 billion, or 91.96% of the $2.8 billion unpaid principal balance of about 1,800 loans
  • Loans originated through the Luther Burbank Savings acquisition by WaFd Bank in March 2024; the sale was not a condition of that merger
  • Bank of America is reselling the loans to funds managed by Pacific Investment Management Company LLC (PIMCO), according to the press release
  • Management said the proceeds give the bank options to pay down debt, originate new loans, buy back stock, or a combination of these

The filing

CompanyWaFd (WAFD)
Form8-K, current report
Filed with the SECJun 21, 2024, 5:12 PM ET
Accession number0000936528-24-000092

Items reported: 2.01 Acquisition or Disposition Completed7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 6:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 21, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.