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WaMu Closes $7 Billion Equity Issuance, Strengthening Capital Position
    WaMu Reports First Quarter Net Loss Per Share of $1.40, Reflecting
          Elevated Loan Loss Provisioning but Stable Revenues

                    Declares Cash Dividend of $0.01

SEATTLE--(BUSINESS WIRE)--April 15, 2008--On Apr. 14, WaMu (NYSE:WM) closed the previously announced $7 billion capital issuance to TPG Capital and to other investors, including many of WaMu's top institutional shareholders. With the proceeds of the offering, the company's capital ratios are expected to remain well above its targeted levels while it absorbs elevated credit costs in its loan portfolios in 2008 and 2009. At the same time, the company will continue to grow its leading, national banking franchise.

"The completion of this offering demonstrates the confidence these major investors have expressed in WaMu's underlying value and its growth potential," said WaMu Chairman and Chief Executive Officer Kerry Killinger. "This substantial new capital will position us for a return to profitability as elevated credit costs subside. With the support of these investors, we have every confidence in our ability to deal with today's market conditions and restore shareholder value."

WaMu today announced a first quarter 2008 net loss of $1.14 billion, or $1.40 per diluted share, compared with the fourth quarter net loss of $1.87 billion, or $2.19 per diluted share, and net income of $784 million, or $0.86 per diluted share, during the first quarter of 2007. The quarter's financial results reflect a higher level of provisioning as steep declines in home values led to further deterioration in mortgage credit markets.

"By issuing $7 billion of additional capital, we have taken decisive actions to withstand this period of unprecedented credit losses, while maintaining strong liquidity," said Killinger. "We also recently announced plans to further advance our retail-focused strategy by:

    --  Investing in and growing our retail banking stores and call
        center production;

    --  Closing all of our remaining freestanding home loan offices;
        and

    --  Exiting wholesale lending - our broker channel."

Killinger added that the Retail Bank, Card Services and Commercial businesses again delivered steady performance. During the quarter, retail deposits grew $8.1 billion to $151.7 billion and 256,069 net new checking accounts were opened - a good start to reaching our goal of adding more than a million net new checking accounts this year.

FIRST QUARTER FINANCIAL SUMMARY AND HIGHLIGHTS
----------------------------------------------------------------------

Selected Financial
 Summary                           Three Months Ended
                   ---------------------------------------------------
($ in millions,
 except per share   Mar. 31,   Dec. 31,  Sept. 30, Jun. 30,  Mar. 31,
 data)                2008       2007      2007      2007      2007
                   ---------- ---------- --------- --------- ---------
Income Statement
Net interest
 income            $  2,175   $  2,047   $  2,014  $  2,034  $  2,081
Provision for loan
 losses               3,511      1,534        967       372       234
Noninterest income    1,569      1,365      1,379     1,758     1,541
Noninterest
 expense              2,152      4,166      2,191     2,138     2,105
Minority interest
 expense                 75         65         53        42        43
                   ---------- ---------- --------- --------- ---------
Income (loss)
 before income
 taxes               (1,994)    (2,353)       182     1,240     1,240
Income taxes           (856)      (486)        (4)      410       456
                   ---------- ---------- --------- --------- ---------
Net income (loss)  $ (1,138)  $ (1,867)  $    186  $    830  $    784

Diluted earnings
 (loss) per common
 share             $  (1.40)  $  (2.19)  $   0.20  $   0.92  $   0.86

Balance Sheet
Total assets, end
 of period         $319,668   $327,913   $330,110  $312,219  $319,985
Average total
 assets             319,928    325,276    320,475   316,004   331,905
Average interest-
 earning assets     285,265    287,988    283,263   279,836   295,700
Average total
 deposits           184,304    185,636    198,649   206,765   210,764

Profitability Ratios
Return on average
 common equity       (23.27)%   (32.64)%     3.03%    13.74%    12.99%
Net interest
 margin                3.05       2.86       2.86      2.91      2.80
Efficiency ratio      57.49     122.13      64.55     56.38     58.13
Nonperforming
 assets/total
 assets                2.87       2.17       1.65      1.29      1.02
Tangible
 equity/total
 tangible assets       6.40       6.67       5.60      6.07      5.78
----------------------------------------------------------------------
    --  Net interest margin expands by 19 basis points to 3.05
        percent. Net interest income of $2.18 billion was up from the
        previous quarter as the growth in the net interest margin more
        than offset the effects of the 1 percent drop in average
        interest-earning assets. The 19 basis point increase in the
        net interest margin reflected significantly lower wholesale
        borrowing costs following the 200 basis point reduction in the
        Federal Funds rate since the beginning of the year.

    --  Depositor and other retail banking fees up 6 percent
        year-over-year. During the first quarter, WaMu attracted
        256,069 net new checking accounts, a good start towards
        reaching its goal of adding more than 1 million net new
        accounts this year. This growth, along with the company's
        success in building profitable customer relationships through
        superior service and cross sales, led to a 6 percent
        year-over-year increase in depositor and other retail banking
        fees. The decline in depositor fees from the fourth quarter
        reflected normal seasonality and slowing consumer spending.

    --  Market valuation losses decline. Reflecting continued
        illiquidity of the capital markets, the company reported net
        losses of $216 million in its trading securities, down from a
        loss of $267 million in the fourth quarter. Market conditions
        also resulted in the recording of $67 million in impairment
        losses on mortgage securities designated as available for
        sale, which was more than offset by $85 million of net gains
        on the sale of securities, a significant improvement from
        fourth quarter net losses of $261 million.

    --  Provision increases as economy weakens and home values
        continue to slide. The company's first quarter provision for
        loan losses of $3.51 billion more than doubled from the $1.53
        billion provision in the fourth quarter of last year. The
        larger provision reflects an increase in delinquencies as the
        economy weakens, as well as a higher level of losses as home
        prices declined sharply from the start of the year. During the
        quarter, net charge-offs increased 83 percent over the prior
        quarter to $1.37 billion. At the end of the quarter,
        nonperforming assets as a percentage of total assets grew to
        2.87 percent from 2.17 percent at the end of 2007. The
        quarter's provision was well in excess of net charge-offs and
        brought the allowance for loan losses to $4.71 billion at the
        end of the quarter from $2.57 billion at the end of 2007.

    --  Noninterest expense down 4 percent. Noninterest expense was
        $2.15 billion in the quarter. This represents a 4 percent
        decline when compared with adjusted noninterest expense of
        $2.25 billion in the fourth quarter. The adjustments exclude
        the $1.78 billion charge for the writedown of all goodwill
        within the Home Loans Group and $143 million associated with
        the resizing of the Home Loans business along with other
        reductions in corporate support functions. During the quarter,
        the company reduced the number of employees 7 percent while
        continuing to grow the retail banking franchise. With the rise
        in the number of foreclosures and drop in home prices,
        foreclosure costs increased to $155 million from $133 million
        in the fourth quarter.
FIRST QUARTER SEGMENT RESULTS
----------------------------------------------------------------------
Retail Banking Group

Selected Segment
 Information                         Three Months Ended
                       -----------------------------------------------
($ in millions, except
 accounts and          Mar. 31,  Dec. 31,  Sept. 30, Jun. 30, Mar. 31,
 households)             2008      2007      2007      2007     2007
                       --------- --------- --------- -------- --------
Net interest income    $  1,203  $  1,262   $  1,306 $  1,291 $  1,284
Provision for loan
 losses                   2,300       663        318       91       62
Noninterest income          775       850        833      820      751
Inter-segment revenue         9         5          9       16       18
Noninterest expense       1,221     1,212      1,149    1,131    1,069
                       --------- --------- --------- -------- --------
Income (loss) before
 income taxes            (1,534)      242        681      905      922
Income taxes               (491)      (39)       225      340      346
                       --------- --------- --------- -------- --------
Net income (loss)      $ (1,043) $    281   $    456 $    565 $    576

Average loans          $142,720  $145,486   $147,357 $149,716 $155,206
Average retail
 deposits               146,734   142,733    144,921  145,252  144,030
Net change in number
 of retail checking
 accounts               256,069    74,493    310,360  406,243  327,776
Net change in retail
 households             154,000    37,000    161,000  228,000  195,000
----------------------------------------------------------------------
    --  Results reflect weaker economy. Net interest income was down
        slightly from the fourth quarter due to the lag in the
        downward repricing of deposits as short-term interest rates
        fell. The major component of noninterest income is depositor
        fees, which totaled $704 million during the first quarter,
        down from the fourth quarter reflecting normal seasonality,
        but were up 6 percent year-over-year. Noninterest expense was
        up slightly as the company continued to invest in its retail
        banking network.

    --  Further declines in home prices leads to increase in
        provision. The quarter's net loss reflected the significant
        increase in the provision as deterioration in the company's
        home loan and home equity portfolios accelerated during the
        quarter.

    --  Growth in net new checking accounts on pace to reach annual
        goal. During the first quarter, the Retail Bank added 256,069
        net new checking accounts, up from 74,493 in the fourth
        quarter as that quarter contained end of year inactive account
        clean up. Average retail deposits increased by $4.0 billion
        during the quarter reflecting both money market and CD growth.
        Retail deposit balances at the end of the quarter were up
        $8.07 billion to $151.65 billion while the company reduced
        average consolidated deposit costs by nearly 30 basis points
        from the prior quarter.
Card Services Group (managed basis)

Selected Segment
 Information                          Three Months Ended
                         ---------------------------------------------
                         Mar. 31, Dec. 31, Sept. 30, Jun. 30, Mar. 31,
($ in millions)            2008     2007     2007      2007     2007
                         -------- -------- --------- -------- --------
Net interest income      $   765  $   694   $   674  $   649  $   641
Provision for loan
 losses                      626      591       611      523      388
Noninterest income           418      315       400      393      474
Inter-segment expense          5        -         -        -        -
Noninterest expense          260      338       364      306      329
                         -------- -------- --------- -------- --------
Income before income
 taxes                       292       80        99      213      398
Income taxes                  93      (12)       33       80      149
                         -------- -------- --------- -------- --------
Net income               $   199  $    92   $    66  $   133  $   249

Average managed
 receivables             $26,889  $26,665   $25,718  $24,234  $23,604
Period end managed
 receivables              26,379   27,239    26,227   24,987   23,597
30+ day managed
 delinquency rate           6.89%    6.47%     5.73%    5.11%    5.15%
Managed net credit
 losses                     9.32     6.90      6.37     6.49     6.31
----------------------------------------------------------------------
    --  Solid quarter includes VISA settlement. The growth in net
        interest income was due to lower funding costs driven by a
        significant drop in short-term interest rates. Noninterest
        income was up from the prior quarter due to an $85 million
        benefit received from the company's share of VISA's IPO, while
        noninterest expense was down from the fourth quarter due to
        slower hiring and delays in marketing spend. Also, noninterest
        expense during the first quarter included a $38 million
        partial recovery of the VISA litigation expense recorded in
        the prior year.

    --  Retail channel focus of new account growth. During the
        quarter, Card Services opened 666,407 new credit card
        accounts, 13,696 more than in the prior quarter as the company
        directed its card growth efforts to its core retail banking
        customer base and scaled back promotions on a national level
        to enhance the risk profile of the portfolio. WaMu's Retail
        Bank customers accounted for 38 percent of total account
        production during the first quarter. Total managed receivables
        decreased 3 percent during the quarter to $26.38 billion as a
        result of lower purchase volumes with the softening economy
        and the seasonal increase in payments.

    --  Credit losses up with slowing economy. Managed net credit
        losses and the 30+ day managed delinquency rate increased from
        prior periods reflecting the weakening economy and higher
        unemployment. The increase in the provision was also driven by
        the higher delinquency levels, partially offset by the decline
        in ending managed receivables.
Commercial Group

Selected Segment
 Information                          Three Months Ended
                         ---------------------------------------------
                         Mar. 31, Dec. 31, Sept. 30, Jun. 30, Mar. 31,
($ in millions)            2008     2007     2007      2007     2007
                         -------- -------- --------- -------- --------
Net interest income      $   196  $   200   $   200   $   208 $   211
Provision for loan
 losses                       29       19        12         2     (10)
Noninterest income            (8)     (10)      (34)       63      15
Noninterest expense           68       66        67        74      74
                         -------- -------- --------- -------- --------
Income before income
 taxes                        91      105        87       195     162
Income taxes                  29       11        28        73      61
                         -------- -------- --------- -------- --------
Net income               $    62  $    94   $    59   $   122 $   101

Loan volume              $ 2,835  $ 4,800   $ 4,054   $ 4,348 $ 3,671
Average loans             40,934   40,129    38,333    38,789  38,641
----------------------------------------------------------------------
    --  Solid quarterly results. Net interest income of $196 million
        was down modestly from the prior quarter due to lower
        noninterest bearing deposits. Noninterest income slightly
        improved from the prior quarter as a result of lower trading
        and hedging losses, partially offset by lower loan sales
        volume.

    --  Provision up slightly. The provision for loan losses of $29
        million reflected increased delinquencies and portfolio
        growth, as the company holds more of its loan production in
        portfolio.

    --  Reduced loan volume. Loan volume of $2.84 billion was down 41
        percent from the prior quarter reflecting secondary market
        illiquidity and prudent management of loan portfolio growth.
Home Loans Group

Selected Segment
 Information                          Three Months Ended
                         ---------------------------------------------
                         Mar. 31, Dec. 31, Sept. 30, Jun. 30, Mar. 31,
($ in millions)            2008     2007     2007      2007     2007
                         -------- -------- --------- -------- --------
Net interest income      $   250  $   229   $   191  $   211  $   244
Provision for loan
 losses                      907      511       323      101       49
Noninterest income           319      329       183      389      161
Inter-segment expense          4        5         9       16       18
Noninterest expense(a)       499    2,319       554      547      522
                         -------- -------- --------- -------- --------
Income (loss) before
 income taxes               (841)  (2,277)     (512)     (64)    (184)
Income taxes                (269)    (312)     (169)     (24)     (69)
                         -------- -------- --------- -------- --------
Net (loss)               $  (572) $(1,965)  $  (343) $   (40) $  (115)

Loan volume              $13,774  $19,089   $26,434  $35,938  $33,780
Average loans             55,672   52,278    43,737   43,312   53,254

(a) Includes $1.78 billion goodwill charge in fourth quarter 2007.
----------------------------------------------------------------------
    --  Improved quarter for Home Loans. Net interest income was up
        slightly from the fourth quarter reflecting lower funding
        costs that were largely offset by lower loan yields.
        Noninterest income was down slightly from the prior quarter
        due to additional writedowns on trading securities resulting
        from the continued market dislocation and higher MSR hedging
        costs. The impact of these two items was partially offset by
        improved gain on sale of $122 million during the quarter,
        which included $79 million in gains from the adoption of a new
        accounting pronouncement. Despite the increase in foreclosure
        costs, expenses were down 8 percent from the fourth quarter
        (excluding the $1.78 billion goodwill charge) due to actions
        taken in the fourth quarter to resize the Home Loans business
        in response to the smaller mortgage market. The number of
        employees decreased to 9,159 at the end of the first quarter
        from 11,812 at the end of 2007, and 13,449 as of Mar. 31,
        2007.

    --  Provision continues to reflect housing stress. Increasing
        subprime delinquencies along with higher loss severity rates
        drove the loan loss provision to $907 million from $511
        million in the prior quarter.

    --  Home loan volume reflects change in mix. Home loan segment
        volume of $13.77 billion in the first quarter was down from
        the prior quarter due to the decline in Option ARM, hybrid and
        home equity lending. Fixed-rate loans comprised the majority
        of first quarter volume as the company placed more emphasis on
        originating GSE conforming loans and borrowers took advantage
        of lower interest rates.

    --  Further consolidation of Home Loans business. The company
        recently announced plans to further consolidate its Home Loans
        business, including:
         -- Exiting its wholesale channel and closing its home loan
             centers;
         -- Focusing its mortgage operations in its core retail
             banking network and direct to consumer channel;
         -- Consolidating certain loan fulfillment centers, resulting
             in 3 loan fulfillment center locations.
    COMPANY UPDATES

    --  On Apr. 15, WaMu's Board of Directors declared a cash dividend
        of $0.01 per share on the company's common stock. Dividends on
        the common stock are payable on May 15, 2008 to shareholders
        of record as of Apr. 30, 2008. In addition to declaring a
        dividend on the company's common stock, the company will pay a
        dividend of $0.2528 per depository share of Series K Preferred
        Stock to be payable on Jun. 16, 2008 to holders of record on
        Jun. 2, 2008, a dividend of $19.8056 per share of Series R
        Preferred Stock to be payable on Jun. 16, 2008 to holders of
        record on Jun. 2, 2008, and a dividend of $0.01 per share, on
        an as converted basis, on the company's Series S and Series T
        Preferred Stock to be payable on May 15, 2008 to shareholders
        of record as of Apr. 30, 2008.

    --  On Apr. 15, WaMu director, Mary E. Pugh, who served on the
        WaMu Board of Directors for nine years and as Chair of its
        Finance Committee for three years, resigned from the Board.

    --  On Apr. 15, the term of WaMu director, Anne V. Farrell,
        expired. Ms. Farrell, who served on the Board for thirteen
        years, did not stand for reelection because she reached the
        Board's mandatory retirement age.

    --  On Apr. 8, WaMu's Board of Directors announced its intention
        to appoint TPG Partner David Bonderman (65) to the company's
        Board. In addition, Larry Kellner (49), chairman and chief
        executive officer of Continental Airlines and former executive
        vice president and chief financial officer of American Savings
        Bank, will become a board observer at TPG's request.

    --  On Mar. 14, the United States Court of Federal Claims
        published its written decision in the case of Anchor Savings
        Bank, FSB vs. The United States of America, awarding
        Washington Mutual Bank $382 million for damages, and an
        additional amount for taxes that will be determined by the
        court. A significant portion of the award will benefit
        outstanding warrants. The government is expected to appeal the
        decision, a lengthy process that could delay, reduce or negate
        the award.

    --  On Mar. 3, WaMu's Board of Directors announced the election of
        Stephen Chazen (61) to the company's Board. Under Washington
        law, Chazen will stand for re-election with other directors at
        the company's annual shareholders' meeting. Chazen has been
        designated a member of the Board's Audit and Finance
        Committees. Chazen serves as president and chief financial
        officer of Occidental Petroleum Corporation, an international
        company based in Los Angeles.

    ABOUT WAMU

WaMu, through its subsidiaries, is one of the nation's leading consumer and small business banks. At Mar. 31, 2008, WaMu and its subsidiaries had assets of $319.67 billion. The company has a history dating back to 1889 and its subsidiary banks currently operate approximately 2,500 consumer and small business banking stores throughout the nation. WaMu's financial reports and news releases are available at www.wamu.com/ir.

WEBCAST INFORMATION

A conference call to discuss the company's financial results will be held on Tuesday, Apr. 15, 2008, at 6:30 p.m. ET and will be hosted by Kerry Killinger, chairman and chief executive officer and Tom Casey, executive vice president and chief financial officer. The conference call is available by telephone or on the Internet. The dial-in number for the live conference call is 888-391-7808. Participants calling from outside the United States may dial 630-395-0029. The passcode "WaMu" is required to access the call. Via the Internet, the conference call is available on the Investor Relations portion of the company's web site at www.wamu.com/ir. A recording of the conference call will be available from approximately 8:30 p.m. ET on Tuesday, Apr. 15, 2008 through 11:59 p.m. on Friday, Apr. 25, 2008. The recorded message will be available at 866-360-3314. Callers from outside the United States may dial 203-369-0168.

CAUTIONARY STATEMENTS

This presentation contains forward-looking statements, which are not historical facts and pertain to future operating results. These forward-looking statements are within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about our plans, objectives, expectations and intentions and other statements contained in this document that are not historical facts. When used in this presentation, the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," or words of similar meaning, or future or conditional verbs, such as "will," "would," "should," "could," or "may" are generally intended to identify forward-looking statements. These forward-looking statements are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Actual results may differ materially from the results discussed in these forward-looking statements for the reasons, among others, discussed under the heading "Factors That May Affect Future Results" in Washington Mutual's 2007 Annual Report on Form 10-K which include:

    --  Economic conditions that negatively affect housing prices and
        the job market that have resulted, and may continue to result,
        in a deterioration in credit quality of the Company's loan
        portfolio.

    --  Access to market-based liquidity sources that may be
        negatively impacted if market conditions persist or if further
        ratings downgrades occur and could lead to increased funding
        costs and reduced gain on sale.

    --  The need to raise additional capital due to significant
        additional losses which could have a dilutive effect on
        existing shareholders and could affect the ability to pay
        dividends.

    --  Changes in interest rates.

    --  Features of certain of the Company's loan products that may
        result in increased credit risk.

    --  Estimates used by the Company to determine the fair value of
        certain of our assets that may prove to be imprecise and
        result in significant changes in valuation.

    --  Risks related to the Company's credit card operations that
        could adversely affect the credit card portfolio and our
        ability to continue growing the credit card business.

    --  Operational risk which may result in incurring financial and
        reputational losses.

    --  Failure to comply with laws and regulations.

    --  Changes in the regulation of financial services companies,
        housing government-sponsored enterprises and credit card
        lenders.

    --  General business, economic and market conditions and continued
        deterioration in these conditions.

    --  Damage to the Company's professional reputation and business
        as a result of allegations and negative public opinion as well
        as pending and threatened litigation.

    --  Significant competition from banking and nonbanking companies.

There are other factors not described in our 2007 Form 10-K which are beyond the Company's ability to anticipate or control that could cause results to differ.

WM-1
                       Washington Mutual, Inc.
                    Selected Financial Information
             (dollars in millions, except per share data)
                             (unaudited)

                                     Quarter Ended
----------------------------------------------------------------------
                     Mar. 31,  Dec. 31,  Sept. 30,  June 30,  Mar. 31,
                        2008      2007       2007      2007      2007
----------------------------------------------------------------------
PROFITABILITY
  Net income (loss) $ (1,138) $ (1,867) $    186  $    830  $    784
  Net interest
   income              2,175     2,047     2,014     2,034     2,081
  Noninterest
   income              1,569     1,365     1,379     1,758     1,541
  Noninterest
   expense             2,152     4,166     2,191     2,138     2,105
  Diluted earnings
   per common share $  (1.40) $  (2.19) $   0.20  $   0.92  $   0.86
  Diluted weighted
   average number
   of common shares
   outstanding (in
   thousands)        856,923   855,532   876,002   893,090   899,706
  Net interest
   margin on a
   taxable-
   equivalent
   basis(1)             3.05 %    2.86 %    2.86 %    2.91 %    2.80 %
  Dividends
   declared per
   common share     $   0.15  $   0.56  $   0.56  $   0.55  $   0.54
  Book value per
   common share
   (period end)(2)     21.74     24.55     27.18     27.27     27.30
  Return on average
   assets              (1.42)%   (2.30)%    0.23 %    1.05 %    0.95 %
  Return on average
   common equity      (23.27)   (32.64)     3.03     13.74     12.99
  Efficiency
   ratio(3)            57.49    122.13     64.55     56.38     58.13

ASSET QUALITY
  Nonperforming
   assets(4) to
   total assets         2.87 %    2.17 %    1.65 %    1.29 %    1.02 %
  Allowance as a
   percentage of
   loans held in
   portfolio            1.94      1.05      0.80      0.73      0.71

CREDIT PERFORMANCE
  Provision for
   loan losses      $  3,511  $  1,534  $    967  $    372  $    234
  Net charge-offs      1,368       747       421       271       183

CAPITAL ADEQUACY
  Capital Ratios
   for WMI:
    Tangible equity
     to total
     tangible
     assets(5)          6.40 %    6.67 %    5.60 %    6.07 %    5.78 %
    Tier 1 capital
     to average
     total assets
     (leverage)(6)      6.56      6.84      5.86      6.09      5.87
    Total risk-
     based capital
     to total risk-
     weighted
     assets(6)         12.24     12.34     10.67     11.04     11.17
  Capital Ratios
   for WMB (well-
   capitalized
   minimum)(7):
    Tier 1 capital
     to adjusted
     total assets
     (leverage)
     (5.00%)            6.94      7.05      6.41      7.52      7.04
    Adjusted Tier 1
     capital to
     total risk-
     weighted
     assets (6.00%)     8.11      8.33      7.62      8.77      8.32
    Total risk-
     based capital
     to total risk-
     weighted
     assets
     (10.00%)          12.20     12.22     11.26     12.80     12.37

SUPPLEMENTAL DATA
  Average balance
   sheet:
    Total loans
     held in
     portfolio      $244,186  $241,690  $227,348  $216,004  $222,617
    Total interest-
     earning assets  285,265   287,988   283,263   279,836   295,700
    Total assets     319,928   325,276   320,475   316,004   331,905
    Total deposits   184,304   185,636   198,649   206,765   210,764
    Total
     stockholders'
     equity           24,066    23,947    23,994    24,436    24,407
  Period-end
   balance sheet:
    Total loans
     held in
     portfolio, net  238,100   241,815   235,243   213,434   215,481
    Total assets     319,668   327,913   330,110   312,219   319,985
    Total deposits   188,049   181,926   194,280   201,380   210,209
    Total
     stockholders'
     equity           22,449    24,584    23,941    24,210    24,578
    Common shares
     outstanding at
     the end of
     period (in
     thousands)(8)   882,610   869,036   868,802   875,722   888,111
    Employees at
     end of period    45,883    49,403    49,748    49,989    49,693
_______________________

(1) Includes taxable-equivalent adjustments primarily related to tax-
     exempt income on U.S. states and political subdivisions
     securities and loans related to the Company's community lending
     and investment activities. The federal statutory tax rate was 35%
     for the periods presented.

(2) Excludes six million shares held in escrow.

(3) The efficiency ratio is defined as noninterest expense divided by
     total revenue (net interest income and noninterest income).

(4) Excludes nonaccrual loans held for sale.

(5) Excludes unrealized net gain/loss on available-for-sale securities
     and cash flow hedging instruments, goodwill and intangible assets
     (except MSR) and the impact from the adoption and application of
     FASB Statement No. 158, Employers' Accounting for Defined Benefit
     Pension and Other Postretirement Plans. Minority interests of
     $3.91 billion, $3.92 billion, $2.94 billion, $2.94 billion and
     $2.45 billion at March 31, 2008, December 31, 2007, September 30,
     2007, June 30, 2007 and March 31, 2007 are included in the
     numerator.

(6) The capital ratios are estimated as if Washington Mutual, Inc.
     were a bank holding company subject to Federal Reserve Board
     capital requirements.

(7) Capital ratios for Washington Mutual Bank ("WMB") at March 31,
     2008 are preliminary.

(8) Includes six million shares held in escrow.
WM-2
                       Washington Mutual, Inc.
                  Consolidated Statements of Income
             (dollars in millions, except per share data)
                             (unaudited)

                                       Quarter Ended
----------------------------------------------------------------------
                      Mar. 31,  Dec. 31, Sept. 30,  June 30,  Mar. 31,
                         2008      2007      2007      2007      2007
----------------------------------------------------------------------
Interest Income
  Loans held for
   sale              $     87  $    160  $    248  $    421  $    562
  Loans held in
   portfolio            3,954     4,156     3,992     3,786     3,900
  Available-for-sale
   securities             357       380       392       351       332
  Trading assets          116       101       108       108       113
  Other interest and
   dividend income         77        79       116        82       101
----------------------------------------------------------------------
    Total interest
     income             4,591     4,876     4,856     4,748     5,008
Interest Expense
  Deposits              1,329     1,464     1,650     1,723     1,772
  Borrowings            1,087     1,365     1,192       991     1,155
----------------------------------------------------------------------
    Total interest
     expense            2,416     2,829     2,842     2,714     2,927
----------------------------------------------------------------------
      Net interest
       income           2,175     2,047     2,014     2,034     2,081
  Provision for loan
   losses               3,511     1,534       967       372       234
----------------------------------------------------------------------
      Net interest
       income
       (expense)
       after
       provision for
       loan losses     (1,336)      513     1,047     1,662     1,847
Noninterest Income
  Revenue from sales
   and servicing of
   home mortgage
   loans                  411       358       161       300       125
  Revenue from sales
   and servicing of
   consumer loans         248       375       418       403       443
  Depositor and
   other retail
   banking fees           704       769       740       720       665
  Credit card fees        181       214       209       183       172
  Securities fees
   and commissions         58        63        67        70        60
  Insurance income         30        29        29        29        29
  Loss on trading
   assets                (216)     (267)     (153)     (145)     (108)
  Gain (loss) on
   other available-
   for-sale
   securities              18      (261)      (99)        7        35
  Other income            135        85         7       191       120
----------------------------------------------------------------------
    Total
     noninterest
     income             1,569     1,365     1,379     1,758     1,541
Noninterest Expense
  Compensation and
   benefits               914       877       910       977     1,002
  Occupancy and
   equipment              358       488       371       354       376
  Telecommunications
   and outsourced
   information
   services               130       134       135       132       129
  Depositor and
   other retail
   banking losses          63        72        71        58        61
  Advertising and
   promotion              105       108       125       113        98
  Professional fees        39        89        52        55        38
  Foreclosed asset
   expense                155       133        82        56        39
  Goodwill
   impairment charge        -     1,775         -         -         -
  Other expense           388       490       445       393       362
----------------------------------------------------------------------
    Total
     noninterest
     expense            2,152     4,166     2,191     2,138     2,105
  Minority interest
   expense                 75        65        53        42        43
----------------------------------------------------------------------
      Income (loss)
       before income
       taxes           (1,994)   (2,353)      182     1,240     1,240
      Income taxes       (856)     (486)       (4)      410       456
----------------------------------------------------------------------
Net Income (Loss)    $ (1,138) $ (1,867) $    186  $    830  $    784
----------------------------------------------------------------------
Net Income (Loss)
 Applicable to
 Common Stockholders $ (1,203) $ (1,875) $    178  $    822  $    777
======================================================================

Earnings Per Common
 Share:
  Basic              $  (1.40) $  (2.19) $   0.21  $   0.95  $   0.89
  Diluted               (1.40)    (2.19)     0.20      0.92      0.86

Dividends declared
 per common share        0.15      0.56      0.56      0.55      0.54
Basic weighted
 average number of
 common shares
 outstanding (in
 thousands)           856,923   855,518   857,005   868,968   874,816
Diluted weighted
 average number of
 common shares
 outstanding (in
 thousands)           856,923   855,532   876,002   893,090   899,706
WM-3
                       Washington Mutual, Inc.
            Consolidated Statements of Financial Condition
                        (dollars in millions)
                             (unaudited)


                      Mar. 31,  Dec. 31, Sept. 30,  June 30,  Mar. 31,
                         2008      2007      2007      2007      2007
----------------------------------------------------------------------
Assets
  Cash and cash
   equivalents       $ 10,089  $  9,560  $ 11,370  $  4,167  $  4,047
  Federal funds sold
   and securities
   purchased under
   agreements to
   resell               2,527     1,877     4,042     3,267     8,279
  Trading assets        2,483     2,768     3,797     5,534     5,290
  Available-for-sale
   securities, total
   amortized cost of
   $24,907, $27,789,
   $28,725, $28,934
   and $22,921:
    Mortgage-backed
     securities        18,140    19,249    20,562    20,393    16,543
    Investment
     securities         5,466     8,291     7,844     7,947     6,296
----------------------------------------------------------------------
      Total
       available-
       for-sale
       securities      23,606    27,540    28,406    28,340    22,839
  Loans held for
   sale                 4,941     5,403     7,586    19,327    26,874
  Loans held in
   portfolio          242,814   244,386   237,132   214,994   217,021
  Allowance for loan
   losses              (4,714)   (2,571)   (1,889)   (1,560)   (1,540)
----------------------------------------------------------------------
      Loans held in
       portfolio,
       net            238,100   241,815   235,243   213,434   215,481
  Investment in
   Federal Home Loan
   Banks                3,514     3,351     2,808     1,596     2,230
  Mortgage servicing
   rights               5,726     6,278     6,794     7,231     6,507
  Goodwill              7,283     7,287     9,062     9,056     9,052
  Other assets         21,399    22,034    21,002    20,267    19,386
----------------------------------------------------------------------
      Total assets   $319,668  $327,913  $330,110  $312,219  $319,985
======================================================================
Liabilities
  Deposits:
    Noninterest-
     bearing
     deposits        $ 31,911  $ 30,389  $ 31,341  $ 33,557  $ 34,367
    Interest-bearing
     deposits         156,138   151,537   162,939   167,823   175,842
----------------------------------------------------------------------
      Total deposits  188,049   181,926   194,280   201,380   210,209
  Federal funds
   purchased and
   commercial paper       250     2,003     2,482     3,390       563
  Securities sold
   under agreements
   to repurchase          215     4,148     4,732     9,357     8,323
  Advances from
   Federal Home Loan
   Banks               64,009    63,852    52,530    21,412    24,735
  Other borrowings     32,710    38,958    40,887    40,313    39,430
  Other liabilities     8,072     8,523     8,313     9,212     9,694
  Minority interests    3,914     3,919     2,945     2,945     2,453
----------------------------------------------------------------------
    Total
     liabilities      297,219   303,329   306,169   288,009   295,407
Stockholders' Equity
  Preferred stock       3,392     3,392       492       492       492
  Capital surplus -
   common stock         2,646     2,630     2,575     2,715     3,121
  Accumulated other
   comprehensive
   loss                (1,141)     (359)     (390)     (568)     (268)
  Retained earnings    17,552    18,921    21,264    21,571    21,233
----------------------------------------------------------------------
    Total
     stockholders'
     equity            22,449    24,584    23,941    24,210    24,578
----------------------------------------------------------------------
    Total
     liabilities and
     stockholders'
     equity          $319,668  $327,913  $330,110  $312,219  $319,985
======================================================================
WM-4
                       Washington Mutual, Inc.
                    Selected Financial Information
                        (dollars in millions)
                             (unaudited)

                                    Quarter Ended
-------------------------------------------------------------------
                   Mar. 31,    Dec. 31, Sept. 30, June 30, Mar. 31,
                      2008        2007      2007     2007     2007
-------------------------------------------------------------------
Stockholders'
 Equity
 Rollforward
Balance, beginning
 of period         $24,584     $23,941   $24,210  $24,578  $26,969
Net income (loss)   (1,138)     (1,867)      186      830      784
Cumulative effect
 from the adoption
 of new accounting
 pronouncements        (36)(1)       -         -        -       (6)(2)
Other
 comprehensive
 income (loss),
 net of income
 taxes                (782)         31       177     (300)      19
Cash dividends
 declared on
 common stock         (130)       (482)     (485)    (484)    (477)
Cash dividends
 declared on
 preferred stock       (65)         (8)       (8)      (8)      (7)
Cash dividends
 returned(3)             -          15         -        -        -
Common stock
 repurchased and
 retired(4)              -           -      (199)    (500)  (2,797)
Common stock
 issued                 16          54        60       94       93
Preferred stock
 issued                  -       2,900         -        -        -
-------------------------------------------------------------------
Balance, end of
 period            $22,449     $24,584   $23,941  $24,210  $24,578
===================================================================

(1) As of January 1, 2008, the Company adopted FASB Statement No. 157,
     Fair Value Measurements ("Statement No. 157"), EITF Issue No. 06-
     4, Accounting for Deferred Compensation and Postretirement
     Benefit Aspects of Endorsement Split-Dollar Life Insurance
     Arrangements ("Issue 06-4") and EITF Issue No. 06-10, Accounting
     for Collateral Assignment Split-Dollar Life Insurance
     Arrangements ("Issue 06-10"). The cumulative effect from the
     adoption of Statement No. 157, Issue 06-4 and Issue 06-10 was $1
     million, $(35) million and $(2) million.

(2) As of January 1, 2007, the Company adopted FASB Interpretation No.
     48, Accounting for Uncertainty in Income Taxes.

(3) Represents accumulated dividends on shares returned from escrow.

(4) The Company repurchased zero shares of its common stock during the
     three months ended March 31, 2008 and December 31, 2007, and 7.2
     million, 13.5 million and 61.4 million shares of its common stock
     during the three months ended September 30, 2007, June 30, 2007
     and March 31, 2007. At March 31, 2008, the total remaining common
     stock repurchase authority was 47.5 million shares.
WM-5
                       Washington Mutual, Inc.
                    Selected Financial Information
                        (dollars in millions)
                             (unaudited)

                                       Quarter Ended
----------------------------------------------------------------------
                      Mar. 31,  Dec. 31, Sept. 30,  June 30,  Mar. 31,
                         2008      2007      2007      2007      2007
----------------------------------------------------------------------
RETAIL BANKING GROUP
  Condensed income
   statement:
    Net interest
     income          $  1,203  $  1,262  $  1,306  $  1,291  $  1,284
    Provision for
     loan losses        2,300       663       318        91        62
    Noninterest
     income               775       850       833       820       751
    Inter-segment
     revenue                9         5         9        16        18
    Noninterest
     expense            1,221     1,212     1,149     1,131     1,069
----------------------------------------------------------------------
    Income before
     income taxes      (1,534)      242       681       905       922
    Income taxes         (491)      (39)      225       340       346
----------------------------------------------------------------------
        Net income   $ (1,043) $    281  $    456  $    565  $    576
======================================================================
  Performance and
   other data:
    Efficiency ratio    61.48%    57.25%    53.48%    53.19%    52.08%
    Average loans    $142,720  $145,486  $147,357  $149,716  $155,206
    Average assets    151,609   155,100   157,194   159,515   165,044
    Average
     deposits:
      Checking
       deposits:
      Noninterest
       bearing         23,425    22,748    22,860    23,107    22,331
      Interest
       bearing         24,306    26,328    28,406    30,282    31,739
----------------------------------------------------------------------
      Total checking
       deposits        47,731    49,076    51,266    53,389    54,070
      Savings and
       money market
       deposits        47,904    44,623    43,524    43,814    43,103
      Time deposits    51,099    49,034    50,131    48,049    46,857
----------------------------------------------------------------------
        Average
         deposits     146,734   142,733   144,921   145,252   144,030
    Loan volume         1,238     3,417     5,172     5,760     4,576
    Employees at end
     of period         28,736    29,147    28,636    28,523    28,229
CARD SERVICES GROUP
 Managed basis(1)
  Condensed income
   statement:
    Net interest
     income          $    765  $    694  $    674  $    649  $    641
    Provision for
     loan losses          626       591       611       523       388
    Noninterest
     income               418       315       400       393       474
    Inter-segment
     expense                5         -         -         -         -
    Noninterest
     expense              260       338       364       306       329
----------------------------------------------------------------------
    Income before
     income taxes         292        80        99       213       398
    Income taxes           93       (12)       33        80       149
----------------------------------------------------------------------
        Net income   $    199  $     92  $     66  $    133  $    249
======================================================================
  Performance and
   other data:
    Efficiency ratio    22.04%    33.51%    33.91%    29.33%    29.51%
    Average loans    $ 26,889  $ 26,665  $ 25,718  $ 24,234  $ 23,604
    Average assets     29,244    28,961    28,206    26,762    26,039
    Employees at end
     of period          2,881     2,860     2,878     2,827     2,579

 Securitization
  adjustments
  Condensed income
   statement:
    Net interest
     income          $   (503) $   (454) $   (456) $   (459) $   (414)
    Provision for
     loan losses         (470)     (335)     (288)     (294)     (282)
    Noninterest
     income                33       119       168       165       132
  Performance and
   other data:
    Average loans     (17,391)  (16,007)  (14,488)  (13,888)  (12,507)
    Average assets    (15,075)  (14,180)  (12,841)  (12,287)  (10,961)

 Adjusted basis
  Condensed income
   statement:
    Net interest
     income          $    262  $    240  $    218  $    190  $    227
    Provision for
     loan losses          156       256       323       229       106
    Noninterest
     income               451       434       568       558       606
    Inter-segment
     expense                5         -         -         -         -
    Noninterest
     expense              260       338       364       306       329
----------------------------------------------------------------------
    Income before
     income taxes         292        80        99       213       398
    Income taxes           93       (12)       33        80       149
----------------------------------------------------------------------
      Net income     $    199  $     92  $     66  $    133  $    249
======================================================================
  Performance and
   other data:
    Average loans    $  9,498  $ 10,658  $ 11,230  $ 10,346  $ 11,097
    Average assets     14,169    14,781    15,365    14,475    15,078

(This table is continued on "WM-6.")
__________________________
(1) The managed basis presentation treats securitized and sold credit
     card receivables as if they were still on the balance sheet. The
     Company uses this basis in assessing the overall performance of
     this operating segment. The managed basis presentation of the
     Card Services Group is derived by adjusting the GAAP financial
     information to add back securitized loan balances and the related
     interest, fee income and provision for credit losses. Such
     adjustments are eliminated as securitization adjustments when
     reporting GAAP results.
WM-6
                       Washington Mutual, Inc.
                    Selected Financial Information
                        (dollars in millions)
                             (unaudited)

                                         Quarter Ended
----------------------------------------------------------------------
(This table is continued
 from "WM-5.")           Mar. 31, Dec. 31, Sept. 30, June 30, Mar. 31,
                            2008     2007      2007     2007     2007
----------------------------------------------------------------------
COMMERCIAL GROUP
  Condensed income
   statement:
    Net interest income  $   196  $   200   $   200  $   208  $   211
    Provision for loan
     losses                   29       19        12        2      (10)
    Noninterest income        (8)     (10)      (34)      63       15
    Noninterest expense       68       66        67       74       74
----------------------------------------------------------------------
    Income before income
     taxes                    91      105        87      195      162
    Income taxes              29       11        28       73       61
----------------------------------------------------------------------
      Net income         $    62  $    94   $    59  $   122  $   101
======================================================================
  Performance and other
   data:
    Efficiency ratio       36.09%   34.49%    40.26%   27.42%   32.85%
    Average loans        $40,934  $40,129   $38,333  $38,789  $38,641
    Average assets        43,004   42,336    40,663   41,184   41,005
    Average deposits       7,474    9,762    13,816   15,294   12,028
    Loan volume            2,835    4,800     4,054    4,348    3,671
    Employees at end of
     period                1,358    1,502     1,524    1,508    1,459
HOME LOANS GROUP
  Condensed income
   statement:
    Net interest income  $   250  $   229   $   191  $   211  $   244
    Provision for loan
     losses                  907      511       323      101       49
    Noninterest income       319      329       183      389      161
    Inter-segment
     expense                   4        5         9       16       18
    Noninterest expense      499    2,319       554      547      522
----------------------------------------------------------------------
    Loss before income
     taxes                  (841)  (2,277)     (512)     (64)    (184)
    Income taxes            (269)    (312)     (169)     (24)     (69)
----------------------------------------------------------------------
      Net loss           $  (572) $(1,965)  $  (343) $   (40) $  (115)
======================================================================
  Performance and other
   data:
    Efficiency ratio       88.26%  419.52%   151.63%   93.71%  134.82%
    Average loans        $55,672  $52,278   $43,737  $43,312  $53,254
    Average assets        66,841   66,172    61,106   60,342   71,382
    Average deposits       5,469    6,714     7,780    8,372    8,501
    Loan volume           13,774   19,089    26,434   35,938   33,780
    Employees at end of
     period                9,159   11,812    12,668   13,150   13,449
CORPORATE
 SUPPORT/TREASURY AND
 OTHER
  Condensed income
   statement:
    Net interest income
     (expense)           $   132  $   (18)  $   (39) $    (4) $   (22)
    Provision for loan
     losses                  119       85        (9)     (51)      27
    Noninterest income        86     (201)      (91)      60       94
    Noninterest expense      104      231        57       80      111
    Minority interest
     expense                  75       65        53       42       43
----------------------------------------------------------------------
    Loss before income
     taxes                   (80)    (600)     (231)     (15)    (109)
    Income taxes             (68)    (157)      (46)     (37)     (69)
----------------------------------------------------------------------
      Net income (loss)  $   (12) $  (443)  $  (185) $    22  $   (40)
======================================================================
  Performance and other
   data:
    Average loans        $ 1,556  $ 1,482   $ 1,420  $ 1,367  $ 1,345
    Average assets        45,525   48,173    47,532   41,789   40,875
    Average deposits      24,627   26,427    32,132   37,847   46,205
    Loan volume              143      171       113       72      107
    Employees at end of
     period                3,749    4,082     4,042    3,981    3,977

(This table is continued on "WM-7.")
WM-7
                       Washington Mutual, Inc.
                    Selected Financial Information
                        (dollars in millions)
                             (unaudited)

                                       Quarter Ended
----------------------------------------------------------------------
(This table is
 continued from "WM-
 6.")                 Mar. 31,  Dec. 31, Sept. 30,  June 30,  Mar. 31,
                         2008      2007      2007      2007      2007
----------------------------------------------------------------------
RECONCILING
 ADJUSTMENTS
  Condensed income
   statement:
    Net interest
     income(1)       $    132  $    134  $    138  $    138  $    137
    Noninterest
     income
     (expense)(2)         (54)      (37)      (80)     (132)      (86)
----------------------------------------------------------------------
    Income before
     income taxes          78        97        58         6        51
    Income taxes(3)      (150)       23       (75)      (22)       38
----------------------------------------------------------------------
        Net income   $    228  $     74  $    133  $     28  $     13
======================================================================
  Performance and
   other data:
    Average loans(4) $ (1,220) $ (1,286) $ (1,385) $ (1,301) $ (1,479)
    Average
     assets(4)         (1,220)   (1,286)   (1,385)   (1,301)   (1,479)

TOTAL CONSOLIDATED
  Condensed income
   statement:
     Net interest
      income         $  2,175  $  2,047  $  2,014  $  2,034  $  2,081
     Provision for
      loan losses       3,511     1,534       967       372       234
     Noninterest
      income            1,569     1,365     1,379     1,758     1,541
     Noninterest
      expense           2,152     4,166     2,191     2,138     2,105
     Minority
      interest
      expense              75        65        53        42        43
----------------------------------------------------------------------
     Income (loss)
      before income
      taxes            (1,994)   (2,353)      182     1,240     1,240
     Income taxes        (856)     (486)       (4)      410       456
----------------------------------------------------------------------
        Net income
         (loss)      $ (1,138) $ (1,867) $    186  $    830  $    784
======================================================================
  Performance and
   other data:
    Efficiency ratio    57.49%   122.13%    64.55%    56.38%    58.13%
    Average loans    $249,160  $248,747  $240,692  $242,229  $258,064
    Average assets    319,928   325,276   320,475   316,004   331,905
    Average deposits  184,304   185,636   198,649   206,765   210,764
    Loan volume        17,990    27,477    35,773    46,118    42,134
    Employees at end
     of period         45,883    49,403    49,748    49,989    49,693
__________________________

(1) Represents the difference between mortgage loan premium
     amortization recorded by the Retail Banking Group and the amount
     recognized in the Company's Consolidated Statements of Income.
     For management reporting purposes, certain mortgage loans that
     are held in portfolio by the Retail Banking Group are treated as
     if they are purchased from the Home Loans Group. Since the cost
     basis of these loans includes an assumed profit factor paid to
     the Home Loans Group, the amortization of loan premiums recorded
     by the Retail Banking Group reflects this assumed profit factor
     and must therefore be eliminated as a reconciling adjustment.

(2) Represents the difference between gain from mortgage loans
     recorded by the Home Loans Group and gain from mortgage loans
     recognized in the Company's Consolidated Statements of Income.

(3) Represents the tax effect of reconciling adjustments.

(4) Represents the inter-segment offset for inter-segment loan
     premiums that the Retail Banking Group recognized upon transfer
     of portfolio loans from the Home Loans Group.
WM-8
                       Washington Mutual, Inc.
                    Selected Financial Information
                        (dollars in millions)
                             (unaudited)


                                                  Quarter Ended
----------------------------------------------------------------------
                                                 Mar. 31, 2008
                                            ------------------------
                                                            Interest
                                                            Income/
                                             Balance  Rate  Expense
----------------------------------------------------------------------
Average Balances and Weighted Average
 Interest Rates
Assets (Taxable-Equivalent Basis(1))
Interest-earning assets(2):
  Federal funds sold and securities
   purchased under agreements to resell     $  2,118  3.48%   $   18
  Trading assets                               2,726 17.10       116
  Available-for-sale securities(3):
    Mortgage-backed securities                18,945  5.80       275
    Investment securities                      6,316  5.39        85
  Loans held for sale                          4,974  6.98        87
  Loans held in portfolio:
    Loans secured by real estate:
      Home loans(4)(5)                       109,773  6.27     1,720
      Home equity loans and lines of
       credit(5)                              61,196  6.28       956
      Subprime mortgage channel(6)            18,106  6.33       287
      Home construction(7)                     2,142  7.65        41
      Multi-family                            31,962  6.35       507
      Other real estate                        9,797  6.49       158
----------------------------------------------------        --------
        Total loans secured by real estate   232,976  6.31     3,669
    Consumer:
      Credit card                              9,024 10.75       241
      Other                                      195 17.47         8
    Commercial                                 1,991  7.36        37
----------------------------------------------------        --------
        Total loans held in portfolio        244,186  6.49     3,955
  Other                                        6,000  3.94        59
----------------------------------------------------        --------
        Total interest-earning assets        285,265  6.45     4,595
Noninterest-earning assets:
  Mortgage servicing rights                    5,882
  Goodwill                                     7,286
  Other assets                                21,495
----------------------------------------------------
        Total assets                        $319,928
====================================================
Liabilities
Interest-bearing liabilities:
  Deposits:
    Interest-bearing checking deposits      $ 24,384  1.75       107
    Savings and money market deposits         55,951  2.73       379
    Time deposits                             74,225  4.57       843
----------------------------------------------------        --------
        Total interest-bearing deposits      154,560  3.46     1,329
  Federal funds purchased and commercial
   paper                                       1,009  3.62         9
  Securities sold under agreements to
   repurchase                                    885  3.78         8
  Advances from Federal Home Loan Banks       62,799  4.29       670
  Other                                       34,048  4.71       400
----------------------------------------------------        --------
        Total interest-bearing liabilities   253,301  3.83     2,416
                                                            --------
Noninterest-bearing sources:
  Noninterest-bearing deposits                29,744
  Other liabilities                            8,902
  Minority interests                           3,915
  Stockholders' equity                        24,066
----------------------------------------------------
        Total liabilities and stockholders'
         equity                             $319,928
====================================================
  Net interest spread and net interest
   income on a taxable-equivalent basis               2.62    $2,179
                                                            ========
  Impact of noninterest-bearing sources               0.43
  Net interest margin on a taxable-
   equivalent basis                                   3.05

                                                  Quarter Ended
----------------------------------------------------------------------
                                                  Dec. 31, 2007
                                           --------------------------
                                                            Interest
                                                             Income/
                                             Balance  Rate   Expense
----------------------------------------------------------------------
Average Balances and Weighted Average
 Interest Rates
Assets (Taxable-Equivalent Basis(1))
Interest-earning assets(2):
  Federal funds sold and securities
   purchased under agreements to resell     $  1,673  4.65%  $     20
  Trading assets                               3,114 12.89        101
  Available-for-sale securities(3):
    Mortgage-backed securities                20,104  5.47        275
    Investment securities                      8,029  5.35        107
  Loans held for sale                          7,057  8.99        160
  Loans held in portfolio:
    Loans secured by real estate:
      Home loans(4)(5)                       108,496  6.58      1,785
      Home equity loans and lines of
       credit(5)                              60,135  7.15      1,083
      Subprime mortgage channel(6)            19,341  6.38        309
      Home construction(7)                     2,136  6.99         37
      Multi-family                            31,331  6.56        514
      Other real estate                        8,969  6.89        155
----------------------------------------------------        ---------
        Total loans secured by real estate   230,408  6.73      3,883
    Consumer:
      Credit card                              9,134  9.76        225
      Other                                      213 15.77          8
    Commercial                                 1,935  8.47         41
----------------------------------------------------        ---------
        Total loans held in portfolio        241,690  6.86      4,157
  Other                                        6,321  3.74         59
----------------------------------------------------        ---------
        Total interest-earning assets        287,988  6.76      4,879
Noninterest-earning assets:
  Mortgage servicing rights                    6,472
  Goodwill                                     8,907
  Other assets                                21,909
----------------------------------------------------
        Total assets                        $325,276
====================================================
Liabilities
Interest-bearing liabilities:
  Deposits:
    Interest-bearing checking deposits      $ 26,425  2.15        143
    Savings and money market deposits         54,622  3.14        432
    Time deposits                             73,741  4.78        889
----------------------------------------------------        ---------
        Total interest-bearing deposits      154,788  3.75      1,464
  Federal funds purchased and commercial
   paper                                       3,385  4.96         42
  Securities sold under agreements to
   repurchase                                  4,273  4.80         52
  Advances from Federal Home Loan Banks       56,146  5.13        726
  Other                                       39,268  5.52        545
----------------------------------------------------        ---------
        Total interest-bearing liabilities   257,860  4.36      2,829
                                                            ---------
Noninterest-bearing sources:
  Noninterest-bearing deposits                30,848
  Other liabilities                            8,956
  Minority interests                           3,665
  Stockholders' equity                        23,947
----------------------------------------------------
        Total liabilities and
         stockholders' equity               $325,276
====================================================
  Net interest spread and net interest
   income on a taxable-equivalent basis               2.40   $  2,050
                                                            =========
  Impact of noninterest-bearing sources               0.46
  Net interest margin on a taxable-
   equivalent basis                                   2.86

                                                  Quarter Ended
----------------------------------------------------------------------
                                                  Mar. 31, 2007
                                           ---------------------------
                                                              Interest
                                                              Income/
                                             Balance    Rate  Expense
----------------------------------------------------------------------
Average Balances and Weighted Average
 Interest Rates
Assets (Taxable-Equivalent Basis(1))
Interest-earning assets(2):
  Federal funds sold and securities
   purchased under agreements to resell     $    3,930  5.39%   $   52
  Trading assets                                 5,594  8.10       113
  Available-for-sale securities(3):
    Mortgage-backed securities                  18,460  5.48       253
    Investment securities                        6,180  5.23        81
  Loans held for sale                           35,447  6.37       562
  Loans held in portfolio:
    Loans secured by real estate:
      Home loans(4)(5)                          97,365  6.45     1,570
      Home equity loans and lines of
       credit(5)                                53,014  7.56       989
      Subprime mortgage channel(6)              20,612  6.67       344
      Home construction(7)                       2,061  6.55        34
      Multi-family                              29,826  6.58       491
      Other real estate                          6,763  7.03       117
------------------------------------------------------        --------
        Total loans secured by real estate     209,641  6.79     3,545
    Consumer:
      Credit card                               10,904 11.57       311
      Other                                        267 12.96         9
    Commercial                                   1,805  7.96        36
------------------------------------------------------        --------
        Total loans held in portfolio          222,617  7.04     3,901
  Other                                          3,472  5.77        49
------------------------------------------------------        --------
        Total interest-earning assets          295,700  6.81     5,011
Noninterest-earning assets:
  Mortgage servicing rights                      6,304
  Goodwill                                       9,054
  Other assets                                  20,847
------------------------------------------------------
        Total assets                        $  331,905
======================================================
Liabilities
Interest-bearing liabilities:
  Deposits:
    Interest-bearing checking deposits      $   31,821  2.63       206
    Savings and money market deposits           54,862  3.27       443
    Time deposits                               91,631  4.97     1,123
------------------------------------------------------        --------
        Total interest-bearing deposits        178,314  4.03     1,772
  Federal funds purchased and commercial
   paper                                         3,846  5.48        52
  Securities sold under agreements to
   repurchase                                   12,098  5.48       164
  Advances from Federal Home Loan Banks         36,051  5.38       478
  Other                                         32,808  5.67       461
------------------------------------------------------        --------
        Total interest-bearing liabilities     263,117  4.51     2,927
                                                              --------
Noninterest-bearing sources:
  Noninterest-bearing deposits                  32,450
  Other liabilities                              9,482
  Minority interests                             2,449
  Stockholders' equity                          24,407
------------------------------------------------------
        Total liabilities and
         stockholders' equity               $  331,905
======================================================
  Net interest spread and net interest
   income on a taxable-equivalent basis                 2.30    $2,084
                                                              ========
  Impact of noninterest-bearing sources                 0.50
  Net interest margin on a taxable-
   equivalent basis                                     2.80

_______________________________

(1) Includes taxable-equivalent adjustments primarily related to tax-
     exempt income on U.S. states and political subdivisions
     securities and loans related to the Company's community lending
     and investment activities. The federal statutory tax rate was 35%
     for the periods presented.

(2) Nonaccrual assets and related income, if any, are included in
     their respective categories.

(3) The average balance and yield are based on average amortized cost
     balances.

(4) Capitalized interest recognized in earnings that resulted from
     negative amortization within the Option ARM portfolio totaled
     $336 million, $367 million and $361 million for the three months
     ended March 31, 2008, December 31, 2007 and March 31, 2007.

(5) Excludes home loans and home equity loans and lines of credit in
     the subprime mortgage channel.

(6) Represents mortgage loans purchased from recognized subprime
     lenders and mortgage loans originated under the Long Beach
     Mortgage name and held in the investment portfolio.

(7) Represents loans to builders for the purpose of financing the
     acquisition, development and construction of single-family
     residences for sale and construction loans made directly to the
     intended occupant of a single-family residence.
WM-9
                       Washington Mutual, Inc.
                    Selected Financial Information
                        (dollars in millions)
                             (unaudited)



                                Change from
                                    Dec. 31,
                                     2007 to
                                    Mar. 31,    Mar. 31,     Dec. 31,
                                       2008        2008         2007
----------------------------------------------------------------------
Deposits
  Retail deposits:
    Checking deposits:
      Noninterest bearing       $    1,655  $    25,131  $    23,476
      Interest bearing              (2,082)      23,631       25,713
----------------------------------------------------------------------
        Total checking
         deposits                     (427)      48,762       49,189
    Savings and money market
     deposits                        6,330       51,317       44,987
    Time deposits(1)                 2,164       51,574       49,410
----------------------------------------------------------------------
        Total retail deposits        8,067      151,653      143,586
    Commercial business and
     other deposits                   (862)      10,405       11,267
    Brokered deposits:
      Consumer                        (350)      17,739       18,089
      Institutional                   (804)       1,711        2,515
    Custodial and escrow
     deposits(2)                        72        6,541        6,469
----------------------------------------------------------------------
        Total deposits          $    6,123  $   188,049  $   181,926
======================================================================

(1) Weighted average remaining maturity of time deposits was 6 months
     at March 31, 2008, 7 months at December 31, 2007 and September
     30, 2007, 8 months at June 30, 2007 and 9 months at March 31,
     2007.
(2) Substantially all custodial and escrow deposits reside in
     noninterest-bearing checking accounts.

                                                Mar. 31,     Dec. 31,
                                                   2008         2007
----------------------------------------------------------------------
Retail Deposit Accounts
 (number of accounts)
  Noninterest-bearing checking               11,271,406   10,960,270
  Interest-bearing checking                   1,218,606    1,273,673
  Savings and money market                    7,293,256    7,118,349
----------------------------------------------------------------------
        Total transaction
         accounts, end of
         period(1)                           19,783,268   19,352,292
======================================================================

  Net change in noninterest-
   bearing checking accounts                    311,136      135,722
  Net change in checking
   accounts                                     256,069       74,493
_______________________________
(1) Transaction accounts include retail checking, small business
     checking, retail savings and small business savings.



                                                Mar. 31,     Dec. 31,
                                                   2008         2007
----------------------------------------------------------------------
Retail Banking Stores
Stores, beginning of period                       2,257        2,212
    Stores opened during the
     quarter                                          9           50
    Stores closed during the
     quarter                                         (5)          (5)
----------------------------------------------------------------------
Stores, end of period                             2,261        2,257
======================================================================



                                   Sept. 30,     June 30,     Mar. 31,
                                       2007         2007         2007
----------------------------------------------------------------------
Deposits
  Retail deposits:
    Checking deposits:
      Noninterest bearing       $    23,721  $    24,142  $    24,400
      Interest bearing               27,277       29,592       31,523
----------------------------------------------------------------------
        Total checking
         deposits                    50,998       53,734       55,923
    Savings and money market
     deposits                        43,360       43,617       44,058
    Time deposits(1)                 50,740       48,140       47,262
----------------------------------------------------------------------
        Total retail deposits       145,098      145,491      147,243
    Commercial business and
     other deposits                  16,536       19,186       17,741
    Brokered deposits:
      Consumer                       17,484       17,153       18,995
      Institutional                   8,107       11,025       17,256
    Custodial and escrow
     deposits(2)                      7,055        8,525        8,974
----------------------------------------------------------------------
        Total deposits          $   194,280  $   201,380  $   210,209
======================================================================

(1) Weighted average remaining maturity of time deposits was 6 months
     at March 31, 2008, 7 months at December 31, 2007 and September
     30, 2007, 8 months at June 30, 2007 and 9 months at March 31,
     2007.
(2) Substantially all custodial and escrow deposits reside in
     noninterest-bearing checking accounts.

                                   Sept. 30,     June 30,     Mar. 31,
                                       2007         2007         2007
----------------------------------------------------------------------
Retail Deposit Accounts
 (number of accounts)
  Noninterest-bearing checking   10,824,548   10,449,887    9,983,313
  Interest-bearing checking       1,334,902    1,399,203    1,459,534
  Savings and money market        7,087,311    6,936,870    6,708,784
----------------------------------------------------------------------
        Total transaction
         accounts, end of
         period(1)               19,246,761   18,785,960   18,151,631
======================================================================

  Net change in noninterest-
   bearing checking accounts        374,661      466,574      371,607
  Net change in checking
   accounts                         310,360      406,243      327,776
_______________________________
(1) Transaction accounts include retail checking, small business
     checking, retail savings and small business savings.



                                   Sept. 30,     June 30,     Mar. 31,
                                       2007         2007         2007
----------------------------------------------------------------------
Retail Banking Stores
Stores, beginning of period           2,235        2,228        2,225
    Stores opened during the
     quarter                             10           11            6
    Stores closed during the
     quarter                            (33)          (4)          (3)
----------------------------------------------------------------------
Stores, end of period                 2,212        2,235        2,228
======================================================================
WM-10
                       Washington Mutual, Inc.
                   Selected Financial Information
                        (dollars in millions)
                             (unaudited)

                                        Quarter Ended
----------------------------------------------------------------------
                         Mar. 31, Dec. 31, Sept. 30, June 30, Mar. 31,
                            2008     2007      2007     2007     2007
----------------------------------------------------------------------
Loan Volume
  Home loans:
   Short-term
    adjustable-rate
    loans(1):
     Option ARMs         $   231  $ 3,945  $  6,174  $ 7,888  $ 7,777
     Other ARMs               19       10       111       22       36
----------------------------------------------------------------------
       Total short-term
        adjustable-rate
        loans                250    3,955     6,285    7,910    7,813
   Medium-term
    adjustable-rate
    loans(2)               3,810    5,972     9,868   14,953   13,567
   Fixed-rate loans        9,427    7,382     6,176    8,172    8,824
----------------------------------------------------------------------
       Total home loan
        volume            13,487   17,309    22,329   31,035   30,204
  Home equity loans and
   lines of credit         1,297    4,619     8,544    9,988    7,600
  Home construction(3)       128      378       483      426      298
  Multi-family             2,250    3,412     2,856    3,067    2,663
  Other real estate          728    1,487     1,285    1,246    1,080
----------------------------------------------------------------------
       Total loans
        secured by real
        estate            17,890   27,205    35,497   45,762   41,845
  Commercial                 100      272       276      356      289
----------------------------------------------------------------------
       Total loan volume $17,990  $27,477  $ 35,773  $46,118  $42,134
======================================================================
Loan Volume by Channel
  Retail                 $10,585  $17,341  $ 21,223  $24,707  $21,171
  Wholesale                7,091    9,536    13,387   17,020   14,746
  Purchased                  314      600     1,163    4,391    6,217
----------------------------------------------------------------------
       Total loan volume
        by channel       $17,990  $27,477  $ 35,773  $46,118  $42,134
======================================================================
Refinancing Activity(4)
  Home loan refinancing  $10,779  $12,297  $ 14,722  $22,637  $22,552
  Home equity loans and
   lines of credit            22       46       143      157      550
  Home construction
   loans                       1       30        30       20       12
  Multi-family and other
   real estate             1,033    1,436     1,225    1,378    1,131
----------------------------------------------------------------------
       Total refinancing $11,835  $13,809  $ 16,120  $24,192  $24,245
======================================================================

(1) Short-term adjustable-rate loans reprice within one year.

(2) Medium-term adjustable-rate loans reprice after one year.

(3) Represents loans to builders for the purpose of financing the
     acquisition, development and construction of single-family
     residences for sale and construction loans made directly to the
     intended occupant of a single-family residence.

(4) Includes loan refinancing entered into by both new and pre-
     existing loan customers.
WM-11
                       Washington Mutual, Inc.
                    Selected Financial Information
                        (dollars in millions)
                             (unaudited)


                                        Change from
                                          Dec. 31,
                                           2007 to
                                           Mar. 31, Mar. 31,  Dec. 31,
                                             2008      2008      2007
----------------------------------------------------------------------
Loans Held in Portfolio
    Loans secured by real estate:
      Home:
       Short-term adjustable-rate
        loans(1):
         Option ARMs(2)                  $ (3,024) $ 55,846  $ 58,870
         Other ARMs                          (699)   15,532    16,231
----------------------------------------------------------------------
          Total short-term adjustable-
           rate loans                      (3,723)   71,378    75,101
       Medium-term adjustable-rate
        loans(3)                              844    40,217    39,373
       Fixed-rate loans                      (148)   11,857    12,005
----------------------------------------------------------------------
          Total home loans                 (3,027)  123,452   126,479
      Home equity loans and lines of
       credit                                  58    63,546    63,488
      Home construction(4)                   (138)    2,088     2,226
      Multi-family                            774    32,528    31,754
      Other real estate                       498    10,022     9,524
----------------------------------------------------------------------
          Total loans secured by real
           estate(5)                       (1,835)  231,636   233,471
   Consumer:
     Credit card                              158     8,989     8,831
     Other                                    (19)      186       205
   Commercial                                 124     2,003     1,879
----------------------------------------------------------------------
          Total loans held in
           portfolio(6)                    (1,572)  242,814   244,386
  Less: allowance for loan losses          (2,143)   (4,714)   (2,571)
----------------------------------------------------------------------
          Total loans held in portfolio,
           net                           $ (3,715) $238,100  $241,815
======================================================================


                                         Sept. 30,  June 30,  Mar. 31,
                                             2007      2007      2007
----------------------------------------------------------------------
Loans Held in Portfolio
    Loans secured by real estate:
      Home:
       Short-term adjustable-rate
        loans(1):
         Option ARMs(2)                  $ 58,137  $ 53,455  $ 58,130
         Other ARMs                        15,478    13,538    13,501
----------------------------------------------------------------------
          Total short-term adjustable-
           rate loans                      73,615    66,993    71,631
       Medium-term adjustable-rate
        loans(3)                           37,717    29,647    29,924
       Fixed-rate loans                    11,813     9,505     9,506
----------------------------------------------------------------------
          Total home loans                123,145   106,145   111,061
      Home equity loans and lines of
       credit                              61,831    58,631    56,123
      Home construction(4)                  2,110     2,058     2,071
      Multi-family                         30,831    29,290    29,515
      Other real estate                     8,335     6,879     6,728
----------------------------------------------------------------------
          Total loans secured by real
           estate(5)                      226,252   203,003   205,498
   Consumer:
     Credit card                            8,791     9,913     9,490
     Other                                    224       243       261
   Commercial                               1,865     1,835     1,772
----------------------------------------------------------------------
          Total loans held in
           portfolio(6)                   237,132   214,994   217,021
  Less: allowance for loan losses          (1,889)   (1,560)   (1,540)
----------------------------------------------------------------------
          Total loans held in portfolio,
           net                           $235,243  $213,434  $215,481
======================================================================


(1) Short-term adjustable-rate loans reprice within one year.

(2) The total amount by which the unpaid principal balance of Option
     ARM loans exceeded their original principal amount was $1.93
     billion, $1.73 billion, $1.50 billion, $1.30 billion and $1.12
     billion at March 31, 2008, December 31, 2007, September 30, 2007,
     June 30, 2007 and March 31, 2007.

(3) Medium-term adjustable-rate loans reprice after one year.

(4) Represents loans to builders for the purpose of financing the
     acquisition, development and construction of single-family
     residences for sale and construction loans made directly to the
     intended occupant of a single-family residence.

(5) Includes subprime mortgage channel loans, comprising mortgage
     loans purchased from recognized subprime lenders and mortgage
     loans originated under the Long Beach Mortgage name and held in
     the investment portfolio as follows:

   Subprime Mortgage
    Channel              Mar. 31, Dec. 31, Sept. 30, June 30, Mar. 31,
                            2008     2007      2007     2007     2007
   -------------------------------------------------------------------
   Home loans            $15,032  $16,092   $17,285  $17,602  $17,610
   Home equity loans
    and lines of
    credit                 2,312    2,525     2,711    2,855    2,749
   -------------------------------------------------------------------
      Total              $17,344  $18,617   $19,996  $20,457  $20,359
   ===================================================================

(6) Includes net unamortized deferred loan costs of $1.42 billion,
     $1.45 billion, $1.44 billion, $1.58 billion and $1.71 billion at
     March 31, 2008, December 31, 2007, September 30, 2007, June 30,
     2007 and March 31, 2007.
WM-12
                       Washington Mutual, Inc.
                    Selected Financial Information
                        (dollars in millions)
                             (unaudited)


                                                             Weighted
                                      Change from            Average
                                    Dec. 31, 2007    Mar. 31, Coupon
                                 to Mar. 31, 2008       2008   Rate
----------------------------------------------------------------------
Selected Loans Secured by Real
 Estate
  Home loans held in
   portfolio:
    Short-term adjustable-rate
     loans(1):
      Option ARMs                    $    (3,024)   $ 55,846     7.30%
      Other ARMs                            (699)     15,532     6.94
------------------------------------------------------------
        Total short-term
         adjustable-rate loans            (3,723)     71,378     7.22
    Medium-term adjustable-
     rate loans(2)                           844      40,217     6.35
    Fixed-rate loans                        (148)     11,857     6.75
------------------------------------------------------------
        Total home loans held
         in portfolio                     (3,027)    123,452     6.89
  Home equity loans and lines
   of credit:
    Adjustable-rate                          751      53,850     6.02
    Fixed-rate                              (693)      9,696     7.67
------------------------------------------------------------
        Total home equity
         loans and lines of
         credit                               58      63,546     6.27
  Multi-family loans held in
   portfolio:
    Short-term adjustable-rate
     loans(1):
      Option ARMs                           (136)      6,158     6.70
      Other ARMs                            (641)      7,469     6.03
------------------------------------------------------------
        Total short-term
         adjustable-rate loans              (777)     13,627     6.33
    Medium-term adjustable-
     rate loans(2)                         1,366      16,817     6.12
    Fixed-rate loans                         185       2,084     6.22
------------------------------------------------------------
        Total multi-family
         loans held in
         portfolio                           774      32,528     6.22
------------------------------------------------------------
        Total selected loans
         held in portfolio
         secured by real
         estate(3)                        (2,195)    219,526     6.61
  Loans held for sale(4)                     568       4,941     5.73
------------------------------------------------------------
        Total selected loans
         secured by real
         estate                      $    (1,627)   $224,467     6.59
============================================================



                                         Weighted            Weighted
                                         Average             Average
                                Dec. 31,  Coupon    Mar. 31,  Coupon
                                   2007    Rate        2007    Rate
---------------------------------------- -----------------------------
Selected Loans Secured by Real
 Estate
  Home loans held in
   portfolio:
    Short-term adjustable-rate
     loans(1):
      Option ARMs              $ 58,870      7.68% $ 58,130      7.74%
      Other ARMs                 16,231      6.99    13,501      7.25
---------------------------------------           ----------
        Total short-term
         adjustable-rate loans   75,101      7.53    71,631      7.65
    Medium-term adjustable-
     rate loans(2)               39,373      6.41    29,924      5.86
    Fixed-rate loans             12,005      6.75     9,506      6.68
---------------------------------------           ----------
        Total home loans held
         in portfolio           126,479      7.11   111,061      7.08
  Home equity loans and lines
   of credit:
    Adjustable-rate              53,099      7.52    45,288      8.25
    Fixed-rate                   10,389      7.72    10,835      7.57
---------------------------------------           ----------
        Total home equity
         loans and lines of
         credit                  63,488      7.55    56,123      8.12
  Multi-family loans held in
   portfolio:
    Short-term adjustable-rate
     loans(1):
      Option ARMs                 6,294      7.12     8,373      7.29
      Other ARMs                  8,110      6.40     7,779      7.01
---------------------------------------           ----------
        Total short-term
         adjustable-rate loans   14,404      6.71    16,152      7.15
    Medium-term adjustable-
     rate loans(2)               15,451      6.14    11,545      5.78
    Fixed-rate loans              1,899      6.28     1,818      6.39
---------------------------------------           ----------
        Total multi-family
         loans held in
         portfolio               31,754      6.41    29,515      6.57
---------------------------------------           ----------
        Total selected loans
         held in portfolio
         secured by real
         estate(3)              221,721      7.13   196,699      7.30
  Loans held for sale(4)          4,373      6.12    26,394      6.44
---------------------------------------           ----------
        Total selected loans
         secured by real
         estate                $226,094      7.12  $223,093      7.20
=======================================           ==========


(1) Short-term adjustable-rate loans reprice within one year.

(2) Medium-term adjustable-rate loans reprice after one year.

(3) At March 31, 2008, December 31, 2007 and March 31, 2007,
     adjustable-rate loans with lifetime caps were $182.93 billion,
     $182.12 billion and $162.24 billion with a lifetime weighted
     average cap rate of 12.60%, 12.49% and 12.31%.

(4) Excludes credit card and student loans.

                                                            Dec. 31,
                                                               2007
                                                         to Mar. 31,
                                                               2008
-------------------------------------------------------------------
Rollforward of Loans Held for Sale
  Balance, beginning of period                            $  5,403
    Mortgage loans originated, purchased and transferred
     from held in portfolio                                 11,630
    Mortgage loans transferred to held in portfolio           (346)
    Mortgage loans sold and other(1)                       (10,716)
    Net change in consumer loans held for sale              (1,030)
-------------------------------------------------------------------
  Balance, end of period                                  $  4,941
===================================================================

Rollforward of Home Loans Held in Portfolio
  Balance, beginning of period                            $126,479
    Loans originated, purchased and transferred from
     held for sale                                           2,265
    Loan payments, transferred to held for sale and
     other                                                  (5,292)
-------------------------------------------------------------------
  Balance, end of period                                  $123,452
===================================================================

(1) The unpaid principal balance ("UPB") of home loans sold was $10.0
     billion for the three months ended March 31, 2008.
WM-13
                       Washington Mutual, Inc.
                    Selected Financial Information
                        (dollars in millions)
                             (unaudited)

                                         Quarter Ended
----------------------------------------------------------------------
Detail of Revenue from
 Sales and Servicing of
 Home Mortgage Loans     Mar. 31, Dec. 31, Sept. 30, June 30, Mar. 31,
                            2008     2007      2007     2007     2007
----------------------------------------------------------------------
Gain (loss) from home
 mortgage loans and
 originated mortgage-
 backed securities,
net of hedging and risk
 management instruments:
  Gain (loss) from home
   mortgage loans and
   originated mortgage-
   backed securities(1)   $  143   $    7   $  (169)  $   66  $   149
  Revaluation gain
   (loss) from
   derivatives
   economically hedging
   loans held for sale       (21)     (12)      (53)     126      (54)
----------------------------------------------------------------------
    Gain (loss) from
     home mortgage loans
     and originated
     mortgage-backed
     securities, net of
     hedging and risk
     management
     instruments             122       (5)     (222)     192       95
----------------------------------------------------------------------
Home mortgage loan
 servicing revenue:
  Home mortgage loan
   servicing revenue(2)      470      490       516      526      514
  Change in MSR fair
   value due to payments
   on loans and other       (230)    (255)     (351)    (401)    (356)
----------------------------------------------------------------------
    Net mortgage loan
     servicing revenue       240      235       165      125      158
  Change in MSR fair
   value due to
   valuation inputs or
   assumptions              (499)    (390)     (201)     530      (96)
  Revaluation gain
   (loss) from
   derivatives
   economically hedging
   MSR                       548      518       419     (547)     (32)
----------------------------------------------------------------------
    Home mortgage loan
     servicing revenue,
     net of MSR
     valuation changes
     and derivative risk
     management
     instruments             289      363       383      108       30
----------------------------------------------------------------------
    Total revenue from
     sales and servicing
     of home mortgage
     loans                $  411   $  358   $   161   $  300  $   125
======================================================================

(1) Originated mortgage-backed securities represent available-for-sale
     securities retained on the balance sheet subsequent to the
     securitization of mortgage loans that were originated by the
     Company.

(2) Includes contractually specified servicing fees (net of guarantee
     fees paid to housing government-sponsored enterprises, where
     applicable), late charges and loan pool expenses (the shortfall
     of the scheduled interest required to be remitted to investors
     and that which is collected from borrrowers upon payoff).


                                         Quarter Ended
----------------------------------------------------------------------
                         Mar. 31, Dec. 31, Sept. 30, June 30, Mar. 31,
                            2008     2007      2007     2007     2007
----------------------------------------------------------------------
MSR Valuation and Risk
 Management:
  Change in MSR fair
   value due to
   valuation inputs or
   assumptions            $ (499)  $ (390)  $  (201)  $  530  $   (96)
Gain (loss) on MSR risk
 management instruments:
  Revaluation gain
   (loss) from
   derivatives               548      518       419     (547)     (32)
  Revaluation gain
   (loss) from certain
   trading securities          -        -         4       (4)       4
----------------------------------------------------------------------
    Total gain (loss) on
     MSR risk management
     instruments             548      518       423     (551)     (28)
----------------------------------------------------------------------
      Total changes in
       MSR valuation and
       risk management    $   49   $  128   $   222   $  (21) $  (124)
======================================================================
WM-14
                       Washington Mutual, Inc.
                    Selected Financial Information
                        (dollars in millions)
                             (unaudited)

                                      Quarter Ended
----------------------------------------------------------------------
                    Mar. 31,  Dec. 31, Sept. 30,  June 30,    Mar. 31,
                       2008      2007      2007      2007        2007
----------------------------------------------------------------------
Rollforward of
 Mortgage
 Servicing
 Rights(1)
  Balance,
   beginning of
   period          $  6,278  $  6,794  $  7,231  $  6,507  $    6,193
    Home loans:
      Additions         181       127       116       592         760
      Change in
       MSR fair
       value due
       to payments
       on loans
       and other       (230)     (255)     (351)     (401)       (356)
      Change in
       MSR fair
       value
       due to
       valuation
       inputs or
       assumptions     (499)     (390)     (201)      530         (96)
      Sale of MSR        (1)        -         -         -           -
    Net change in
     commercial
     real estate
     MSR                 (3)        2        (1)        3           6
----------------------------------------------------------------------
  Balance, end of
   period          $  5,726  $  6,278  $  6,794  $  7,231  $    6,507
======================================================================
Rollforward of
 Mortgage Loans
 Serviced for
 Others
  Balance,
   beginning of
   period          $456,484  $463,436  $474,867  $467,782  $  444,696
    Home loans:
      Additions       9,862     7,814     8,700    29,949      44,550
      Sale of
       servicing       (109)        -         -         -           -
      Loan
       payments
       and other    (17,177)  (15,739)  (20,716)  (24,213)    (22,469)
    Net change in
     commercial
     real estate
     loans               66       973       585     1,349       1,005
----------------------------------------------------------------------
  Balance, end of
   period          $449,126  $456,484  $463,436  $474,867  $  467,782
======================================================================

(1) MSR as a percentage of mortgage loans serviced for others was
     1.27%, 1.38%, 1.47%, 1.52% and 1.39% at March 31, 2008, December
     31, 2007, September 30, 2007, June 30, 2007 and March 31, 2007.

                    Mar. 31,  Dec. 31, Sept. 30,  June 30,    Mar. 31,
                       2008      2007      2007      2007        2007
----------------------------------------------------------------------
Total Servicing
 Portfolio
    Mortgage loans
     serviced for
     others        $449,126  $456,484  $463,436  $474,867  $  467,782
    Consumer loans
     serviced for
     others          17,390    17,379    16,078    14,745      13,645
    Servicing on
     retained MBS
     without MSR        904       942       980     1,023       1,082
    Servicing on
     owned loans    236,877   238,344   232,392   218,122     226,217
    Subservicing
     portfolio          285       399       418       439         465
----------------------------------------------------------------------
  Total servicing
   portfolio       $704,582  $713,548  $713,304  $709,196  $  709,191
======================================================================

                                                    March 31, 2008
----------------------------------------------------------------------
                                                            Weighted
                                                  Unpaid     Average
                                                Principal   Servicing
                                                  Balance      Fee
----------------------------------------------------------------------
                                                           (in basis
                                                            points,
Mortgage Loans Serviced for Others by Loan Type            annualized)
    Agency                                       $249,621          32
    Private                                       171,078          57
    Subprime mortgage channel-home                 28,427          51
----------------------------------------------------------
  Total mortgage loans serviced for others(1)    $449,126          43
==========================================================

(1) Weighted average coupon rate was 6.24% at March 31, 2008.
WM-15
                       Washington Mutual, Inc.
                    Selected Financial Information
                        (dollars in millions)
                             (unaudited)

                                        Quarter Ended
----------------------------------------------------------------------
                        Mar. 31, Dec. 31, Sept. 30, June 30, Mar. 31,
                           2008     2007      2007     2007     2007
----------------------------------------------------------------------
Allowance for Loan
 Losses
  Balance, beginning of
   quarter              $ 2,571   $1,889    $1,560   $1,540   $1,630
  Allowance transferred
   to loans held for
   sale                       -     (105)     (217)     (81)    (148)
  Other                       -        -         -        -        7
  Provision for loan
   losses                 3,511    1,534       967      372      234
----------------------------------------------------------------------
                          6,082    3,318     2,310    1,831    1,723
  Loans charged off:
    Loans secured by
     real estate:
      Home loans(1)        (331)    (105)      (52)     (21)     (35)
      Home equity loans
       and lines of
       credit(1)           (486)    (249)     (104)     (55)     (29)
      Subprime mortgage
       channel(2)          (388)    (277)     (146)    (103)     (40)
      Home
       construction(3)       (8)       -         -       (1)       -
      Multi-family           (4)      (4)        -        -        -
      Other real estate      (2)      (1)       (1)      (1)       -
----------------------------------------------------------------------
        Total loans
         secured by
         real estate     (1,219)    (636)     (303)    (181)    (104)
    Consumer:
      Credit card          (135)    (126)     (120)    (106)     (96)
      Other                  (2)      (2)       (2)      (2)      (3)
    Commercial              (39)     (32)      (20)     (15)      (9)
----------------------------------------------------------------------
        Total loans
         charged off     (1,395)    (796)     (445)    (304)    (212)
  Recoveries of loans
   previously charged
   off:
    Loans secured by
     real estate:
      Home loans(1)           1        4         1        1        1
      Home equity loans
       and lines of
       credit(1)              9        4         3        3        3
      Subprime mortgage
       channel(2)             1        4         1       11        1
      Home
       construction(3)        -        2         -        -        -
      Other real estate       1        2         2        -        -
----------------------------------------------------------------------
        Total loans
         secured by
         real estate         12       16         7       15        5
    Consumer:
      Credit card            12       31        14       15       16
      Other                   -        -         -        -        6
    Commercial                3        2         3        3        2
----------------------------------------------------------------------
        Total
         recoveries of
         loans
         previously
         charged off         27       49        24       33       29
----------------------------------------------------------------------
           Net charge-
            offs         (1,368)    (747)     (421)    (271)    (183)
----------------------------------------------------------------------
  Balance, end of
   quarter              $ 4,714   $2,571    $1,889   $1,560   $1,540
======================================================================

  Net charge-offs
   (annualized) as a
   percentage of
   average loans held
   in portfolio            2.24 %   1.24 %    0.74 %   0.50 %   0.33 %
  Allowance as a
   percentage of loans
   held in portfolio       1.94     1.05      0.80     0.73     0.71
__________________

(1) Excludes home loans and home equity loans and lines of credit in
     the subprime mortgage channel.

(2) Represents mortgage loans purchased from recognized subprime
     lenders and mortgage loans originated under the Long Beach
     Mortgage name and held in the investment portfolio. Charge-offs
     in the second quarter of 2007 include $26 million of amounts
     primarily related to uncollected borrower expenses incurred in
     prior periods by and owed to a third party loan servicer.

(3) Represents loans to builders for the purpose of financing the
     acquisition, development and construction of single-family
     residences for sale and construction loans made directly to the
     intended occupant of a single-family residence.
WM-16
                       Washington Mutual, Inc.
                    Selected Financial Information
                        (dollars in millions)
                             (unaudited)

                         Mar. 31, Dec. 31, Sept. 30, June 30, Mar. 31,
                            2008     2007      2007     2007     2007
----------------------------------------------------------------------
Nonperforming Assets
  Nonaccrual
   loans(1)(2):
    Loans secured by
     real estate:
      Home loans(3)       $3,504   $2,302    $1,452   $  991   $  690
      Home equity loans
       and lines of
       credit(3)           1,102      835       533      378      297
      Subprime mortgage
       channel(4)          2,882    2,721     2,356    1,707    1,503
      Home
       construction(5)        77       56        44       47       41
      Multi-family           142      131       120       69       60
      Other real estate       87       53        49       52       52
----------------------------------------------------------------------
        Total nonaccrual
         loans secured
         by real estate    7,794    6,098     4,554    3,244    2,643
    Consumer                   2        1         1        1        1
    Commercial                28       24        22       30       28
----------------------------------------------------------------------
        Total nonaccrual
         loans held in
         portfolio         7,824    6,123     4,577    3,275    2,672
  Foreclosed assets(6)     1,357      979       874      750      587
----------------------------------------------------------------------
        Total
         nonperforming
         assets(7)        $9,181   $7,102    $5,451   $4,025   $3,259
======================================================================

    Total nonperforming
     assets as a
     percentage of total
     assets                 2.87%    2.17%     1.65%    1.29%    1.02%
______________________________

(1) Nonaccrual loans held for sale, which are excluded from the
     nonaccrual balances presented above, were zero, $4 million, $7
     million, $171 million and $195 million at March 31, 2008,
     December 31, 2007, September 30, 2007, June 30, 2007 and March
     31, 2007. Loans held for sale are accounted for at the lower of
     cost or fair value, with valuation changes included as
     adjustments to noninterest income.

(2) Credit card loans are exempt under regulatory rules from being
     classified as nonaccrual because they are charged off when they
     are determined to be uncollectible, or by the end of the month in
     which the account becomes 180 days past due.

(3) Excludes home loans and home equity loans and lines of credit in
     the subprime mortgage channel.

(4) Represents mortgage loans purchased from recognized subprime
     lenders and mortgage loans originated under the Long Beach
     Mortgage name and held in the investment portfolio.

(5) Represents loans to builders for the purpose of financing the
     acquisition, development and construction of single-family
     residences for sale and construction loans made directly to the
     intended occupant of a single-family residence.

(6) Foreclosed real estate securing Government National Mortgage
     Association ("GNMA") loans of $25 million, $37 million, $46
     million, $49 million and $72 million at March 31, 2008, December
     31, 2007, September 30, 2007, June 30, 2007 and March 31, 2007
     have been excluded. These assets are fully collectible as the
     corresponding GNMA loans are insured by the Federal Housing
     Administration ("FHA") or guaranteed by the Department of
     Veterans Affairs ("VA").

(7) Excludes accruing restructured loans of $372 million, $251
     million, $269 million, $277 million and $340 million at March 31,
     2008, December 31, 2007, September 30, 2007, June 30, 2007 and
     March 31, 2007.

    CONTACT: WaMu
             Media Contact
             Derek Aney
             206-500-6094 (Seattle)
             212-326-6075 (New York)
             derek.aney@wamu.net
             or
             WaMu
             Investor Relations Contact
             Alan Magleby
             206-500-4148 (Seattle)
             212-702-6955 (New York)
             alan.magleby@wamu.net

    SOURCE: Washington Mutual, Inc.