First Washington Bancorp is the parent of First Savings Bank and its divisions, Whatcom State Bank and Seaport Citizens Bank, and of Inland Empire Bank and Towne Bank. First Washington's holdings comprise 37 branch offices and six loan offices in Washington, Oregon and Idaho.

First Washington president and CEO Gary Sirmon says the company is gearing up for the company's reorganization and upcoming consolidation into two state-chartered commercial banks. The new name under which its subsidiaries will operate has not yet been announced.

Through its subsidiaries, FWWB serves the rapidly growing Pacific Northwest economic region with business, commercial real estate, construction, residential and agricultural loans. On Thursday, the Bancorp's stock closed the trading day at $15.38 per share. In afternoon trading Friday, the per share price is up $18.75 cents.