WaFd Bank President and CEO Brent Beardall in Stable Condition After Being Injured in Small Plane Crash

Rhea-AI Summary

On January 2, 2023, Brent Beardall, President and CEO of Washington Federal (Nasdaq: WAFD), was involved in a private plane crash in Provo, Utah. Though he sustained broken bones and lacerations requiring surgery, he is expected to fully recover. Beardall will take a temporary leave of absence, with Executive Vice President Cathy Cooper stepping in to fulfill his responsibilities. The company's Chairman, Stephen Graham, expressed condolences for Nathan Ricks, who died in the incident, and reaffirmed confidence in the management team to maintain the bank's strategy during Beardall's recovery.

Positive

• Brent Beardall is expected to make a full recovery from injuries sustained in the crash.
• Cathy Cooper is well-positioned to temporarily lead the bank during Beardall's recovery.

Negative

• The incident may cause temporary leadership disruption at Washington Federal.

SEATTLE--(BUSINESS WIRE)-- Washington Federal (Nasdaq: WAFD) reports that on January 2, 2023, the President and CEO of Washington Federal, Inc. and Washington Federal Bank (dba WaFd Bank), Brent Beardall, was one of four people on board a private plane that crashed in Provo, Utah shortly after takeoff. He was transported by ambulance to the hospital with broken bones and lacerations, underwent surgery later that day, and is expected to make a full recovery. Mr. Beardall will take a temporary leave of absence from his duties as President and CEO while he recovers, and Executive Vice President and Chief Consumer Banker, Cathy Cooper, will temporarily assume Mr. Beardall’s duties. The Company will provide additional updates as they become available.

Washington Federal’s Chairman of the Board, Stephen Graham, said, “We want to express our condolences for the family of Nathan Ricks, who died in this tragic accident. All of us at WaFd are grateful that Brent is expected to make a full recovery and look forward to his return to normal duties shortly. We have every confidence in our strong management team’s ability to move forward with the execution of the Bank’s strategy.”

Washington Federal Bank, a federally insured Washington state-chartered bank with headquarters in Seattle, Washington, has more than 200 branches in eight western states. To find out more about WaFd Bank, please visit our website www.wafdbank.com. WaFd Bank uses its website to distribute financial and other material information about the Company.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230103005793/en/

Brad Goode

Washington Federal, Inc.

425 Pike Street, Seattle, WA 98101

(206) 626-8178

Source: Washington Federal, Inc.

FAQ

What happened to Brent Beardall of Washington Federal on January 2, 2023?

Brent Beardall was involved in a private plane crash in Provo, Utah, requiring surgery for his injuries.

Who is temporarily leading Washington Federal during Beardall's absence?

Cathy Cooper, Executive Vice President and Chief Consumer Banker, is temporarily assuming Beardall's duties.

Was there any fatality in the plane crash involving Brent Beardall?

Yes, Nathan Ricks tragically died in the accident.

What impact does Brent Beardall's recovery have on Washington Federal's operations?

While Beardall recovers, the bank's management is expected to continue executing its strategy effectively.