Washington Federal Inc. operates as a non-diversified unitary savings and loan holding company. Washington Federal conducts operations through its federally insured savings and loan association subsidiary, WaFd Bank. The bank successfully completed its conversion from a national bank charter, supervised by the Office of the Comptroller of the Currency, to a Washington state chartered commercial bank. As a result, primary supervision of the bank will be by the Washington State Department of Financial Institutions and the Federal Deposit Insurance Corporation. Washington Federal's business primarily consists of attracting deposits from general public and investing these funds in various types of loans, including first-lien mortgages on single-family dwellings, construction loans, land acquisition and development loans, loans on multi-family and other income producing properties, home equity loans and business loans. Washington Federal further invests in certain U.S. government and agency obligations and others.