Washington Bancorp - owned by local families serving local families.
In 1995, Washington Bancorp was formed as a unitary thrift holding company. In 1996, Washington Bancorp initially offered shares to the public and simultaneously became the holding company for Washington Federal Savings Bank. Then in 1998, Washington Bancorp converted to a bank holding company and completed the acquisition of Rubio Savings Bank of Brighton. From 1998 until 2003 the two banks continued to operate under the separate charters.
In 2003, the Washington Federal Savings Bank merged into the state-chartered bank, Rubio Savings Bank of Brighton, and simultaneously changed the name to Federation Bank. The principal asset of Washington Bancorp is the outstanding stock of Federation Bank.
In 2012, Washington Bancorp completed a merger to facilitate the conversion to a Subchapter S corporation under the Internal Revenue Code effective January 1, 2013. Washington Bancorp presently has no separate operations and its business consists only of the business of the Bank.
Washington Bancorp is headquartered from the Federation Bank main branch in Washington, Iowa.