May 24, 2007

Approval of proposal by C-B-G, Inc.

For immediate release

The Federal Reserve Board on Thursday announced its approval of the proposal filed by C-B-G, Inc., West Liberty, Iowa, to acquire up to 35 percent of the voting shares of Washington Bancorp and thereby indirectly acquire an additional interest in Federation Bank, both of Washington, Iowa. 

Attached is the Board’s Order relating to this action.

Last Update: May 24, 2007