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

First Washington president and CEO Gary Sirmon says the companyis gearing up for the company's reorganization and upcomingconsolidation into two state-chartered commercial banks. The newname under which its subsidiaries will operate has not yet beenannounced.

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