An investigation into the magnitude and frequency of floods in Washington State computed the annual exceedance probability (AEP) statistics for 649 U.S. Geological Survey unregulated streamgages in and near the borders of Washington using the recorded annual peak flows through water year 2014. This is an updated report from a previous report published in 1998 that used annual peak flows through the water year 1996. New in this report, a regional skew coefficient was developed for the Pacific Northwest region that includes areas in Oregon, Washington, Idaho and western Montana within the Columbia River drainage basin south of the United States-Canada border, the coastal areas of Oregon and western Washington, and watersheds draining into Puget Sound, Washington. The skew coefficient is an important term in the Log Pearson Type III equation used to define the distribution of the log-transformed annual peaks. The Expected Moments Algorithm was used to fit historical and censored peak-flow data to the log Pearson Type III distribution. A Multiple Grubb-Beck test was employed to censor low outliers of annual peak flows to improve on the frequency distribution. This investigation also includes a section on observed trends in annual peak flows that showed significant trends (p-value < 0.05) in 21 of 83 long-term sites, but with small magnitude Kendall tau values suggesting a limited monotonic trend in the time series of annual peaks. Most of the sites with a significant trend in western Washington were positive and all the sites with significant trends (three sites) in eastern Washington were negative.