Federation Bank, Financial Information

About Federation Bank

 Address:
102 East Main Street
Washington, IA
Washington County, Iowa
 Established:
Nov 1906
 Number of domestic offices:
4
Agriculture bank
Total assets$155M
Net income$1M
Net income, quarterly$0M
Total deposits$127M
Domestic deposits$127M
Equity capital$14M
ROA0.9%
ROAQ, quarterly1.18%
ROA, pretax1.18%
ROAQ, quarterly, pretax1.24%
ROE9.48%
ROEQ, quarterly12.8%
UpdatedMay 20, 2021

Terms and Definitions

  • Domestic deposits
    The sum of all domestic deposits, including demand deposits, money market deposits and time deposits.
  • Equity capital
    Total equity capital (includes preferred and common stock, surplus and undivided profits).
  • ROA
    Return on assets, net income after taxes and extraordinary items (annualized) as a percent of average total assets.
  • ROE
    Return on equity, annualized net income as a percent of average equity on a consolidated basis.

Washington Bancorp (WBIO) is an Iowa corporation which was organized in October 1995 by Washington Federal Savings Bank for the purpose of becoming a savings and loan holding company. Washington Federal was a federally chartered savings bank, headquartered in Washington, Iowa. Originally chartered as a savings and loan institution in 1934, Washington Federal converted to a federal savings bank in 1994.

In March, 1996, Washington Federal converted to the stock form of organization through the sale and issuance of its common stock to the company. On June 24, 1997, WBIO entered into a merger agreement to acquire the Rubio Savings Bank of Brighton, Iowa. Rubio Savings Bank was then held as a separate subsidiary of Washington Bancorp. In January 1998, Washington Bancorp became a bank holding company upon the completion of its acquisition of Rubio Savings Bank. In December 1998, Washington Federal opened a branch office, Wellman Federal Savings, in Wellman, Iowa. In September 2000, Washington Federal opened a second branch, Richland Federal Savings, in Richland, Iowa.

On April 15, 2003, Washington Bancorp merged Washington Federal with Rubio Savings Bank to form Federation Bank. The original 1906 state charter from Rubio Savings Bank was retained, and the main office is located in Washington, while the data processing system is in Brighton. The executive office of the company is located at 102 East Main Street, Washington, Iowa, 52353, telephone (319) 653-7256.

Main Office Location
102 East Main Street
PO Box 529
Washington, Iowa 52353-0529
Phone: (319) 653-7256
Fax: (319) 653-2636

Drive Up Location
220 E. Washington St.
PO Box 529
Washington, Iowa 52353-0529
Phone: (319) 653-7256
Fax: (319) 653-2636

Brighton
122 East Washington Street
PO Box 100
Brighton, Iowa 52540-0100
Phone: (319) 694-2821
Fax: (319) 694-2918