Washington Savings Bank Acquires First National Bank of Mattoon

(WASHINGTON SAVINGS BANK'S MATTOON LOCATION)

Washington Savings MHC and Washington Savings Bank have announced that the previously-announced merger of The First National Bank of Mattoon with and into Washington Savings Bank has closed.

Washington Savings Bank's new Mattoon branch on Broadway Avenue will now serve as a full-service bank located on the east side of Mattoon right off Interstate 57. The location is close to many shopping locations and businesses.

Washington's Wealth Management team will operate out of the Broadway Avenue Banking Center and will expand their services to offer more trust and investment opportunities. The Lerna branch will continue to serve the residents of Lerna and surrounding areas. The Lerna branch began six days a week operation as of Monday.

(WASHINGTON SAVINGS BANK'S LERNA LOCATION)

Upon closing of the merger, Preston Smith, Chief Executive Officer of First National Bank of Mattoon, announced his retirement from full-time employment in the banking industry. He will remain with Washington Savings Bank in a part-time capacity through June of 2022.

Washington Savings Bank President David Doedtman said, "We are excited at the opportunity to acquire First National Bank and to increase our community banking presence in the Mattoon area. The transaction will significantly enhance our wealth management capabilities. We are thrilled that Preston agreed to stay involved in order to ensure a smooth transition."

Washington Savings Bank was founded in 1883, and now has full service branch locations in Effingham, Mattoon and Lerna. The bank has received a 5-Star rating, the highest possible, from Bauer Financial for over 30 consecutive years. Fewer than 1% of the nation's banks can make that claim. More information is available at www.washingtonsavings.net.