FORM 10-QSB

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

(Mark One)
[X]        QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
           SECURITIES EXCHANGE ACT OF 1934

           For the quarterly period ended December 31, 2000
                                                         OR
[  ]       TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
           SECURITIES EXCHANGE ACT OF 1934

           For the transition period from ______________ to _______________

           Commission file number 0-25076
                                  -------

                               Washington Bancorp

              ---------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

               Iowa                                            42-1446740
-------------------------------                         ------------------------
(State or other jurisdiction of                                (I.R.S. Employer
incorporation or organization)                               Identification No.)

                  102 East Main Street, Washington, Iowa 52353
               --------------------------------------------------
               (Address of principal executive offices)(Zip Code)

        Registrant's telephone number, including area code: (319)653-7256

Check  whether  the issuer  (1) has filed all  reports  required  to be filed by
Section 13 or 15(d) of the  Securities  Exchange  act of 1934 during the past 12
months (or for such shorter period that the registrant was required to file such
reports),  and (2) has been subject to such filing  requirements for the past 90
days. Yes [X] No [ ]

State the number of shares  outstanding of each of the issuers classes of common
equity, as of the latest practicable date.

Common Stock, $.01 par value 513,526 shares outstanding as of February 12, 2001

Transitional Small Business Disclosure Format (check one): Yes[ ] No[X]

<PAGE>

                                      INDEX

Part I.  Financial Information

         Item 1.  Consolidated Financial Statements

                  Consolidated Statements of Financial Condition
                  at December 31, 2000 (unaudited) and June 30, 2000

                  Unaudited Consolidated Statements of Income for the
                  three months ended December 31, 2000 and 1999

                  Unaudited Consolidated  Statements of Comprehensive Income for
                  the three months ended December 31, 2000 and 1999

                  Unaudited Consolidated  Statements of Cash Flows for the three
                  months ended December 31, 2000 and 1999

                  Notes to Financial Statements

         Item 2.  Management's Discussion and Analysis

Part II. Other Information

         Items 1 through 6

         Signatures

         Exhibits

<PAGE>

Part 1. Financial Information

Item 1.  Consolidated Financial Statements
<TABLE>

WASHINGTON BANCORP AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

                                                      December 31,                June 30,
                                                          2000                     2000 *
                                                          ----                    ------
ASSETS                                                (unaudited)
<S>                                                  <C>                     <C>

Cash and cash equivalents
  Interest-bearing                                    $    1,827,749          $     1,859,278
  Noninterest-bearing                                      1,048,203                  990,107
Investment securities:
  Held to maturity                                           773,523                  774,629
  Available for sale                                      20,841,777               21,602,351
Federal funds, sold                                          925,000                  110,000
Loans receivable, net of allowance for loan losses
  of $626,144 in December 2000 and $647,605               84,684,269               83,988,473
  in June 2000
Accrued interest receivable                                1,612,575                1,463,838
Federal Home Loan Bank Stock                               1,756,200                1,729,600
Foreclosed real estate                                       149,965                  271,302
Premises and equipment, net                                  919,122                  818,228
Goodwill, net                                              1,138,683                1,185,964
Other assets                                                 235,632                  628,668
                                                      ---------------------------------------
      Total assets                                    $  115,912,698          $   115,422,438
                                                      =======================================

LIABILITIES AND STOCKHOLDERS' EQUITY

Liabilities
Deposits
  Noninterest-bearing                                 $    4,184,583          $     4,145,248
  Interest -bearing                                       69,369,223               69,151,849
                                                      ---------------------------------------
Total deposits                                            73,553,806               73,297,097
Borrowed funds                                            30,205,762               30,193,250
Advances from borrowers for taxes and insurance              203,521                  249,683
Accrued expenses and other liabilities                       817,835                  632,003
                                                      ---------------------------------------
Total liabilities                                        104,780,924              104,372,033
                                                      ---------------------------------------
Redeemable common stock held by ESOP                         279,615                  228,947
                                                      ---------------------------------------
Stockholders' Equity
Common Stock
  Common Stock                                                 6,511                    6,511
  Additional Paid-in Capital                               6,178,280                6,169,796
Retained Earnings                                          7,585,158                7,333,909
Accumulated other comprehensive loss                        (266,362)                (447,899)
Treasury  shares                                          (2,052,098)              (1,658,017)
Deferred  compensation                                       (11,225)                 (21,060)
Maximum cash obligation related to ESOP shares              (279,615)                (228,947)
Unearned ESOP shares                                        (308,490)                (332,835)
                                                      ---------------------------------------
Total stockholders' equity                                10,852,159               10,821,458
                                                      ---------------------------------------
Total liabilities and stockholders' equity            $  115,912,698          $   115,422,438
                                                      =======================================

</TABLE>

*Condensed from audited financial statements
See Notes to Financial Statements.
<PAGE>
<TABLE>

Washington Bancorp and Subsidiaries
Unaudited Consolidated Statements of Income              Three Months Ended               Six Months Ended
                                                               December 31,                     December 31,
                                                          2000           1999            2000            1999
                                                      ---------------------------    ----------------------------
<S>                                                    <C>             <C>             <C>             <C>
Interest and dividend income:
  Loans, including fees:
    First mortgage loans                              $ 1,175,109     $ 1,069,910     $ 2,327,200     $ 2,093,701
    Consumer and other loans                              683,215         578,617       1,373,568       1,140,791
Investment securities:
    Taxable                                               371,685         356,114         727,139         678,281
    Nontaxable                                             17,256          15,880          32,973          31,068
  Federal Home Loan Bank stock                             32,946          17,497          59,621          31,549
                                                      ---------------------------     ---------------------------
      Total interest income                             2,280,211       2,038,018       4,520,501       3,975,390
                                                      ---------------------------     ---------------------------
Interest expense:
  Deposits                                                890,685         839,824       1,736,209       1,684,540
  Borrowed funds                                          484,128         302,407         995,688         543,805
                                                      ---------------------------     ---------------------------
Total interest expense                                  1,374,813       1,142,231       2,731,897       2,228,345
                                                      ---------------------------     ---------------------------
Net interest income                                       905,398         895,787       1,788,604       1,747,045
Provision for loan losses                                  30,000          18,000          64,000          39,500
                                                      ---------------------------     ---------------------------
Net interest income after provision
        for loan losses                                   875,398         877,787       1,724,604       1,707,545
                                                      ---------------------------     ---------------------------
Noninterest income:
  Service charges and fees                                113,136          99,105         226,457         188,934
  Insurance commissions                                    12,051          22,457          27,244          37,089
  Investment commissions                                    6,551               -          17,306               -
  Other                                                    13,572          19,970          27,048          18,580
                                                      ---------------------------     ---------------------------
Total noninterest income                                  145,310         141,532         298,055         244,603
                                                      ---------------------------     ---------------------------
Noninterest expense:
  Compensation and benefits                               295,285         254,021         604,596         584,246
  Occupancy and equipment                                  79,044          51,905         141,529         112,160
  FDIC deposit insurance premium                            8,653          16,323          19,967          30,506
  Data processing                                          29,456          20,228          50,076          48,294
  Goodwill amortization                                    23,640          23,640          47,281          47,281
  Other                                                   155,014         180,751         296,067         301,285
                                                      ---------------------------     ---------------------------
        Total noninterest expense                         591,092         546,868       1,159,516       1,123,772
                                                      ---------------------------     ---------------------------
Income before taxes                                       429,616         472,451         863,143         828,376
Income tax expense                                        188,106         193,940         359,737         327,100
                                                      ---------------------------     ---------------------------
Net income                                            $   241,510      $  278,511      $  503,406       $ 501,276
                                                      ===========================     ===========================
Earnings per common share
  Basic                                               $      0.48       $    0.50       $    1.00       $    0.89
  Diluted                                             $      0.48       $    0.49       $    0.98       $    0.88
Dividends per common share                            $         -       $       -       $    0.50       $    0.12
Weighted average common shares for:
  Basic earnings per share                                499,714         560,326         504,204         561,068
  Diluted earnings per share                              506,933         568,062         511,506         570,493
</TABLE>
See Notes to Financial Statements
<PAGE>


Washington Bancorp and Subsidiaries
Unaudited Consolidated Statements of
Comprehensive Income
<TABLE>
                                                         Three Months Ended              Six Months Ended
                                                          December 31,                     December 31,
                                                        2000        1999                2000         1999
                                                     --------------------------    ----------------------------
<S>                                                  <C>            <C>            <C>             <C>
Net Income                                            $  241,510     $ 278,511      $  503,406      $  501,276

Other comprehensive income(loss),
net of income taxes:
  Unrealized holding gains (losses) arising during
    the period, net of income taxes                        71,221     (119,987)          181,537      (215,500)
                                                     --------------------------    ----------------------------
Comprehensive income                                  $   312,731    $ 158,524      $    684,943    $  285,776
                                                     ==========================    ============================
</TABLE>
See Notes to Financial Statements

<PAGE>

Washington Bancorp and Subsidiaries
Unaudited Consolidated Statements of Cash Flows
Six Months Ended December 31, 2000 and 1999

<TABLE>
                                                                 2000                1999
                                                           ------------------------------------
<S>                                                       <C>                     <C>
Cash Flows from Operating Activities
  Net income                                               $    503,406           $    501,276
  Adjustments to reconcile net income to net cash
    Provided by operating activities:
    Amortization of premiums and discounts on
      debt securities                                             9,282                 13,435
    Amortization of goodwill                                     47,281                 47,281
    Provision  for loan  losses                                  64,000                 39,500
    (Gain)loss on sale of foreclosed real estate                 21,218                 (7,606)
    Depreciation                                                 51,238                 44,808
    Compensation under stock awards                               9,835                 16,312
    ESOP contribution expense                                    32,829                 31,738
    (Increase) in accrued interest receivable                  (148,737)              (127,602)
    Decrease in other assets                                    276,971                 16,253
    Increase accrued expenses and other liabilities             185,832                 14,884
                                                           ------------------------------------
       Net cash provided by operating activities              1,053,155                590,279
                                                           ------------------------------------

Cash Flows from Investing Activities
  Held-to-maturity securities:
    Purchases                                                         -               (160,000)
  Available-for-sale securities:
    Maturities and calls                                      1,050,000                850,000
    Purchases                                                         -             (1,900,000)
  Federal funds sold, net                                      (815,000)              (375,000)
  Purchase of Federal Home Loan Bank stock                      (26,600)              (310,000)
  Loans made to customers, net                                 (659,677)            (4,821,456)
  Sale of premises and equipment                                      -                 16,410
  Purchase of premises and equipment                           (152,132)               (38,153)
                                                           ------------------------------------
Net cash (used in) investing activities                        (603,409)            (6,738,199)
                                                           ------------------------------------


Cash Flows from Financing Activities
  Net increase (decrease) in deposits                           256,710               (703,026)
  Proceeds from Federal Home Loan Bank advances             248,350,000            108,950,000
  Principal payments on Federal Home Loan Bank advances    (248,337,488)          (101,479,570)
  Net (decrease) in advances from borrowers for taxes
    and insurance                                               (46,162)               (18,418)
  Acquisition of common stock for the treasury                 (394,081)               (40,875)
  Dividends paid                                               (252,158)               (67,197)
                                                           ------------------------------------

        Net cash provided by (used in)financing activities     (423,179)              6,640,914
                                                           ------------------------------------

           Net increase in cash and cash equivalents             26,567                492,994
Cash and cash equivalents:
  Beginning                                                   2,849,385              2,557,430
                                                           ------------------------------------

  Ending                                                   $  2,875,952          $   3,050,424
                                                           ====================================
</TABLE>




<PAGE>

Washington Bancorp and Subsidiaries

<TABLE>
Unaudited Consolidated Statements of Cash Flows                2000                 1999
Six Months Ended December 31, 2000 and 1999             --------------------------------------

<S>                                                    <C>                    <C>
Supplemental Disclosures of Cash Flow Information
  Cash payments for:
    Interest paid to depositors                         $   1,190,749          $   1,287,597
    Interest paid on other obligations                  $     988,875          $     534,131
    Income taxes, net of refunds                        $     364,800          $     286,800

Supplemental Schedule of Noncash Investing and
   Financing Activities
   Transfers from loans to foreclosed real estate       $     271,681           $     59,415
   Contract sales of foreclosed real estate             $     371,800           $     75,250
</TABLE>

See Notes to Financial Statements.


<PAGE>

Washington Bancorp and Subsidiaries
Notes to Financial Statements

Principles of consolidation.  The accompanying consolidated financial statements
include  the  accounts  of  Washington   Bancorp,   Washington  Federal  Savings
Bank("Washington  Federal"), WFSB's wholly-owned subsidiary Washington Financial
Services,  Inc.,  which is a discount  brokerage firm, and Rubio Savings Bank of
Brighton,  Iowa ("Rubio Savings Bank" ). All significant  intercompany  balances
and transactions have been eliminated in consolidation.

Basis of presentation.  Interim Financial Information (unaudited): The financial
statements and notes related thereto for the six month period ended December 31,
2000, are unaudited,  but in the opinion of management  include all adjustments,
consisting  only  of  normal  recurring   adjustments,   necessary  for  a  fair
presentation of the financial position and results of operations.  The operating
results for the interim  periods are not indicative of the operating  results to
be expected for a full year or for other interim  periods.  Not all  disclosures
required by generally accepted  accounting  principles  necessary for a complete
presentation  have been  included.  It is  recommended  that these  consolidated
condensed financial  statements be read in conjunction with the Annual Report on
Form  10-KSB for the year ended June 30,  2000 and all  related  amendments  and
exhibits  (including all financial  statements and notes therein),  filed by the
Company with the Securities and Exchange Commission.

Goodwill.  Goodwill  resulting  from the Company's  acquisition of Rubio Savings
Bank is being amortized by the straight-line  method over 15 years.  Goodwill is
periodically  reviewed  for  impairment  based  upon  an  assessment  of  future
operations to ensure that it is appropriately valued.

Foreclosed real estate. Real estate properties acquired through loan foreclosure
are initially recorded at the lower of cost or fair value less estimated selling
expenses  at  the  date  of  foreclosure.  Costs  relating  to  development  and
improvement  of property  are  capitalized,  whereas  costs  relating to holding
property are expensed.

Redeemable  common stock held by ESOP.  The  Company's  maximum cash  obligation
related to these shares is classified outside  stockholders'  equity because the
shares are not  readily  traded and could be put to the  Company  for cash.  The
maximum cash obligation represents the approximate market value of the allocated
ESOP shares at the end of the reporting period.

<PAGE>

Regulatory capital  requirements.  Pursuant to the Financial Information Reform,
Recovery and Enforcement Act of 1989 ("FIRREA"),  savings institutions must meet
three  separate  minimum  capital-to-asset  requirements.  The  following  table
summarizes,  as of  December  31, 2000 the capital  requirements  of  Washington
Federal  under  FIRREA and its actual  capital  ratios.  As of December 31, 2000
Washington  Federal  exceeded  all  current   regulatory   capital   requirement
standards.
<TABLE>
                                                     At December 31, 2000
                                                    -----------------------
                                                     Amount         Percent
                                                    -----------------------
                                                     (Dollars in thousands)
<S>                                                <C>              <C>
Tangible Capital:
    Capital Level                                   $   7,637        8.26%
    Requirement                                         1,387        1.50%
                                                    ----------------------
    Excess                                          $   6,250        6.76%
                                                    ======================

Core Capital:
    Capital Level                                   $    7,637        8.26%
    Requirement                                          3,699        4.00%
                                                     ----------------------
    Excess                                          $    3,938        4.26%
                                                    =======================

Risk-Based Capital:
    Capital Level                                   $    8,070       12.67%
    Requirement                                          5,097        8.00%
                                                     ----------------------
    Excess                                          $    2,973        4.67%
                                                    =======================
</TABLE>
The following table summarizes the capital requirements of Rubio Savings Bank of
Brighton.  As of December 31, 2000 Rubio exceeded all current regulatory capital
requirement standards.
<TABLE>
                                                     At December 31, 2000
                                                     ----------------------
                                                     Amount         Percent
                                                     ----------------------
                                                       (Dollars in thousands)
<S>                                                <C>               <C>
Tier 1 or Leverage Capital:
         Capital Level                              $    2,513       11.04%
         Requirement                                       683        3.00%
                                                     ----------------------

        Excess                                     $    1,830        8.04%
                                                     ======================
Tier 1 Risk-based Capital:
         Capital Level                              $    2,513       16.26%
         Requirement                                       618        4.00%
                                                     ----------------------
         Excess                                     $    1,895       12.26%
                                                    =======================
Risk-Based Capital:
         Capital Level                              $     2,684      17.37%
         Requirement                                      1,236       8.00%
                                                     ----------------------
         Excess                                     $     1,448       9.37%
                                                    =======================
</TABLE>

<PAGE>

Item 2.  Management's Discussion and Analysis

Forward-Looking Statements

         When used in this Form 10-QSB or future filings by the Company with the
Securities  and Exchange  Commission,  in the Company's  press releases or other
public  or  shareholder  communications,  or in oral  statements  made  with the
approval of an authorized  executive officer,  the words or phrases "will likely
result," "are  expected  to," "will  continue,"  "is  anticipated,"  "estimate,"
"project,"   "believe"   or  similar   expressions   are  intended  to  identify
"forward-looking  statements"  within  the  meaning  of the  Private  Securities
Litigation  Reform Act of 1995.  The  Company  wishes to caution  readers not to
place undue reliance on any such forward-looking statements, which speak only as
of the date made, and to advise readers that various factors, including regional
and national  economic  conditions , changes in levels of market interest rates,
credit risks of lending  activities,  and  competitive  and regulatory  factors,
could affect the Company's  financial  performance and could cause the Company's
actual results for future periods to differ materially from those anticipated or
projected.

The Company does not undertake,  and specifically disclaims any obligations,  to
revise any  forward-looking  statements to reflect the occurrence of anticipated
or unanticipated events or circumstances after the date of such statements.

General

         Washington  Bancorp  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 is a federally  chartered
savings bank headquartered in Washington,  Iowa.  Originally  chartered in 1934,
Washington Federal converted to a federal savings bank in 1994. Its deposits are
insured up to the applicable limits by the Federal Deposit Insurance Corporation
("FDIC").

         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,  Washington  entered into a merger  agreement to acquire Rubio
Savings  Bank of  Brighton,  Iowa.  Rubio  Savings  Bank  is 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 branch office,  Richland  Federal  Savings,  in Richland,  Iowa. The principal
assets of  Washington  Bancorp are  Washington  Federal and Rubio  Savings  Bank
(collectively,  the  "Banks").  Washington  Bancorp  presently  has no  separate
operations and its business consists primarily of the business of the Banks. All
references to Washington Bancorp,  unless otherwise indicated at or before March
11, 1996, refer to Washington Federal.

         Washington  Bancorp is investigating  the possibility of de-registering
with the SEC in an effort  to reduce  expenses.  De-registering  will  result in
de-listing with Nasdaq. In order to de-register,  Washington  Bancorp must first
have  fewer  than  300  record  holders.   Washington   Bancorp's  shares  trade
infrequently  and  are  widely  held in the  local  area  of  Washington,  Iowa.
Therefore the negative  impact for the liquidity of the shares is expected to be
minimal.

         Washington  Federal  attracts  deposits from the general  public in its
local  market  area  and uses  such  deposits  primarily  to  invest  in one- to
four-family   residential  loans  secured  by  owner  occupied   properties  and
non-residential  properties,  as well as construction  loans on such properties.
Washington  Federal  also  invests in federal  agency  bonds,  corporate  bonds,
agricultural loans, commercial loans, consumer loans, and automobile loans.

         Rubio  attracts  deposits  from the general  public in its local market
area and the  businesses  in the  Brighton  area.  The  deposits  are  primarily
invested in federal  agency  bonds,  agricultural  operating  loans,  commercial
loans, one- to- four family  residential real estate loans, and farm real estate
loans.  Rubio also makes  commercial  real estate  loans,  automobile  loans and
consumer loans.

         The executive office of the Company is located at 102 East Main Street,
Washington, Iowa 52353, telephone (319)653-7256.

<PAGE>

Financial Condition
Total assets.  Total consolidated  assets increased $490,000 from $115.4 million
at June 30, 2000 to $115.9  million at  December  31,  2000.  The  increase  was
primarily due to an $815,000 increase in federal funds sold, a $696,000 increase
in loans receivable,  net, a $149,000  increase in accrued interest  receivable,
and a  $101,000  increase  in  premises  and  equipment,  partially  offset by a
$761,000  decrease in available-  for- sale  investment  securities,  a $393,000
decrease in other assets,  and a $121,000  decrease in  foreclosed  real estate.
Loans receivable. Loans receivable, net increased $696,000 from $84.0 million at
June 30, 2000 to $84.7 million at December 31, 2000.  This increase is primarily
due to  increased  loan  demand in the  Company's  market  area.  The  Company's
non-performing  assets were  $801,000 or 0.69 % of total  assets at December 31,
2000 as  compared  to  $648,000  or  0.57%  of total  assets  at June 30,  2000.
Non-performing  assets have increased  primarily due the 90 days past due status
on a  nonresidential  real estate loan and a  government  guaranteed  commercial
loan. The Company is in the process of liquidating  the assets and no losses are
expected.

Investment  securities.  Available-  for- sale investment  securities  decreased
$761,000  from $21.6  million at June 30, 2000 to $20.8  million at December 31,
2000  primarily  due to the  call of a  federal  agency  bond of  $750,000,  the
maturity of a US Treasury Note of $300,000, and the net amortization of premiums
paid for the securities of $7,000  partially offset by an increase in the market
value of the  portfolio  of $298,000.  The  portfolio  of  available-  for- sale
securities  is  comprised  primarily of  investment  securities  carrying  fixed
interest  rates.  The  aggregate  fair  value  of these  securities  was less on
December 31, 2000 than their carrying value.

Deposits.  Deposits  increased  $257,000  from $73.3 million at June 30, 2000 to
$73.6 million at December 31, 2000.  Transaction and savings deposits  decreased
as a percentage  of total  deposits from $26.6 million or 36.3% at June 30, 2000
to  $26.2  million  or 35.6% at  December  31,  2000.  Certificates  of  deposit
increased as a percentage of total  deposits from $46.7 million or 63.7% at June
30, 2000 to $47.4 million or 64.4% at December 31, 2000.

Total stockholders'  equity.  Total stockholders'  equity increased $31,000 from
$10.8  million at June 30,  2000 to $10.9  million at  December  31,  2000.  The
increase  is  primarily  due  to net  income  of  $503,000,  the  change  in net
unrealized loss in the available for sale securities of $182,000, the allocation
of ESOP shares of $33,000,  and the  amortization  of deferred  compensation  of
$10,000  partially  offset by $394,000 in payments for the  repurchase of 29,108
shares of the Company's  common stock,  the dividends  paid to  shareholders  of
$252,000, and the change in the maximum cash obligation on allocated ESOP shares
of $51,000.

Results of Operations - Three Months Ended December 31, 2000 As Compared To The
        Three Months Ended December 31, 1999

Performance  summary.  Net earnings  decreased $37,000 to $242,000 for the three
months ended December 31, 2000 from $279,000 for the three months ended December
31, 1999.  The decrease is primarily  due to an increase in interest  expense of
$233,000,  an increase  in  noninterest  expense of $44,000,  and an increase in
provision for loan loss of $12,000  partially  offset by an increase in interest
income of $242,000,  a decrease in income tax expense of $6,000, and an increase
in  noninterest  income of $4,000.  For the three months ended December 31, 2000
the  annualized  return on average  assets was 0.83%  compared  to 1.02% for the
three months ended  December 31, 1999,  while the  annualized  return on average
equity was 9.00% for the three months ended December 31, 2000 compared to 10.28%
for the three months ended December 31, 1999.

Net interest  income.  Net interest income  increased $9,000 to $905,000 for the
three  months ended  December 31, 2000 from  $896,000 for the three months ended
December 31, 1999.  The increase is primarily due to the increase of $242,000 in
interest  income to $2.3 million for the three  months  ended  December 31, 2000
from $2.0  million for the three  months  ended  December  31, 1999 offset by an
increase in interest  expense of $233,000 to $1.4  million for the three  months
ended  December 31, 2000 from $1.1  million for the three months ended  December
31, 1999.

<PAGE>
For  the  three   months  ended   December   31,  2000  the  average   yield  on
interest-earning  assets was 8.18%  compared to 7.85% for the three months ended
December 31, 1999. The average cost of  interest-bearing  liabilities  was 5.46%
for the three  months ended  December  31, 2000  compared to 4.84% for the three
months ended December 31, 1999. The average  balance of interest  earning assets
increased $8.4 million to $111.4 million for the three months ended December 31,
2000 from $103.0  million for the three months ended  December 31, 1999.  During
this same period, the average balance of interest-bearing  liabilities increased
$7.1 million to $100.8 million for the three months ended December 31, 2000 from
$93.7 million for the three months ended December 31, 1999.

Due to an increase in rates paid on the  interest-bearing  liabilities to remain
competitive  locally,  the average  interest rate spread was 2.72% for the three
months  ended  December  31, 2000  compared to 3.01% for the three  months ended
December  31,  1999.  The  average net  interest  margin was 3.24% for the three
months  ended  December  31, 2000  compared to 3.45% for the three  months ended
December 31, 1999.

Provision for loan loss.  Provision for loan loss  increased  $12,000 to $30,000
for the three months  ended  December 31, 2000 from $18,000 for the three months
ended  December 31, 1999.  The primary  reason for the increase in the provision
was the increased size of the loan  portfolio,  particularly  in  nonresidential
real estate,  commercial,  and agriculture loans which are considered to carry a
higher risk of default  than  residential  loans.  Despite  this  increase,  the
Company's loan portfolio  remains primarily  residential  mortgage loans and has
experienced  a minimal  amount  of  charge-offs  in the past  three  years.  The
allowance  for loan  losses was  $626,000 or 0.74% of loans  receivable,  net at
December  31, 2000  compared to  $496,000 or 0.64% of loans  receivable,  net at
December 31, 1999. The allowance for loan loss as a percentage of non-performing
assets was 78.17% at December  31,  2000,  compared  to 118.07% at December  31,
1999.

Noninterest  income.  Noninterest  income  increased  $4,000 to $145,000 for the
three  months ended  December 31, 2000 from  $141,000 for the three months ended
December 31, 1999. The increase is primarily due an increase in service  charges
and  fees of  $14,000  and an  increase  in  investment  commissions  of  $6,000
partially  offset by a decrease  in  insurance  commissions  of  $10,000,  and a
decrease in other noninterest income of $6,000.

Service  charges and fees  increased  $14,000 to $113,000  for the three  months
ended  December 31, 2000 from  $99,000 for the three  months ended  December 31,
1999  primarily due to an $8,000  increase in overdraft fee income,  a $2,000 in
loan fees and charges, a $2,000 increase in checking account service charges and
stop payments,  and a $2,000 increase in credit card fees. The investment center
generated  $7,000  for the three  months  ended  December  31,  2000.  Insurance
commissions decreased $10,000 to $12,000 for the three months ended December 31,
2000 from $22,000 for the three months ended  December 31, 1999 primarily due to
an decrease in the volume of credit life and disability sales. Other noninterest
income  decreased $6,000 to $14,000 for the three months ended December 31, 2000
from  $20,000 for the three months ended  December 31, 1999  primarily  due to a
decrease in gains realized in the sale of foreclosed property and an decrease in
the penalty for early withdrawal of a certificate of deposit.

Noninterest  expense.  Noninterest expense increased $44,000 to $591,000 for the
three  months ended  December 31, 2000 from  $547,000 for the three months ended
December  31,  1999.  The  increase is  primarily  due to a $41,000  increase in
compensation and benefits, a $27,000 increase in occupancy and equipment,  and a
$9,000 increase in data  processing,  partially  offset by a $25,000 decrease in
other noninterest expense and an $8,000 decrease in FDIC insurance premium.

Compensation  and  benefits  increased  $41,000 to $295,000 for the three months
ended  December 31, 2000 from  $254,000 for the three months ended  December 31,
1999  primarily  due to the increase in salaries  and in the cost of  retirement
benefits due to an increase in staff.  Occupancy and equipment increased $27,000
to $79,000 for the three  months  ended  December  31, 2000 from $52,000 for the
three months ended December 31, 1999 primarily due to the costs  associated with
opening the Richland,  Iowa branch in September 2000. Data processing  increased
$9,000 to $29,000 for the three months ended  December 31, 2000 from $20,000 for
the three  months  ended  December  31,  1999  primarily  due to  non-repetitive
training costs.
<PAGE>

Other  noninterest  expense  decreased  $26,000 to $155,000 for the three months
ended  December 31, 2000 from  $181,000 for the three months ended  December 31,
1999 primarily due to a decrease in the cost of collections on bad debt and real
estate  foreclosure  expenses,  a decrease in the cost associated with preparing
for Y2K and a decrease in postage and delivery charges.  FDIC insurance premiums
decreased  $8,000 to $9,000 for the three  months  ended  December 31, 2000 from
$16,000  for the three  months  ended  December  31, 1999  primarily  due to the
decrease in Washington Federal's regulatory premium rate.

Results of Operations - Six Months Ended December 31, 2000 As Compared To The
     Six Months Ended December 31, 1999

Performance  summary. Net income increased $2,000 to $503,000 for the six months
ended  December 31, 2000 from  $501,000  for the six months  ended  December 31,
1999.  The  increase is  primarily  due to an  increase  in  interest  income of
$545,000,  an increase in noninterest income of $53,000,  partially offset by an
increase in interest expense of $503,000,  an increase in noninterest expense of
$36,000,  an  increase  in income  tax  expense of $33,000  and an  increase  in
provision  for loan losses of $24,000.  For the six months  ended  December  31,
2000, the annualized return on average assets was 0.86% as compared to 0.94% for
the six months ended December 31, 1999. The annualized  return on average equity
was 9.23% for the six months ended  December 31, 2000,  as compared to 9.32% for
the six months ended December 31, 1999.

Net interest income.  Net interest income increased  $42,000 to $2.7 million for
the six months  ended  December  31,  2000 from $2.2  million for the six months
ended  December  31,  1999.  The  increase is  primarily  due to the increase of
$545,000 in interest  income to $4.5 million for the six months  ended  December
31, 2000 from $4.0 million for the six months ended December 31, 1999, which was
partially  offset by an increase in interest expense of $504,000 to $2.7 million
of the six months  ended  December 31, 2000 from $2.2 million for the six months
ended December 31, 1999.

For  the  six  months   ended   December  31,   2000,   the  average   yield  on
interest-earning  assets was 8.16%  compared  to 7.92% for the six months  ended
December 31, 1999. The average cost of  interest-bearing  liabilities  was 5.43%
for the six months ended  December 31, 2000 compared to 4.90% for the six months
ended  December  31,  1999.  The  average  balance  of  interest-earning  assets
increased  $10.2 million to $110.8 million for the six months ended December 31,
2000 from $100.6 million for the six months ended December 31, 1999. During this
same period, the average balance of interest-bearing  liabilities increased $9.3
million to $100.6  million for the six months ended December 31, 2000 from $91.3
million for the six months ended December 31, 1999.

The average interest rate spread was 2.73% for the six months ended December 31,
2000 compared to 3.02% for the six months ended  December 31, 1999.  The average
net  interest  margin  was 3.23% for the six  months  ended  December  31,  2000
compared to 3.48% for the six months ended December 31, 1999.

Provision for loan loss.  Provision for loan loss  increased  $24,000 to $64,000
for the three months  ended  December 31, 2000 from $40,000 for the three months
ended  December 31, 1999.  The primary  reason for the increase in the provision
was the increased size of the loan  portfolio,  particularly  in  nonresidential
real estate,  commercial,  and agriculture loans which are considered to carry a
higher risk of default  than  residential  loans.  Despite  this  increase,  the
Company's loan portfolio  remains primarily  residential  mortgage loans and has
experienced  a minimal  amount  of  charge-offs  in the past  three  years.  The
allowance  for loan  losses was  $626,000 or 0.74% of loans  receivable,  net at
December  31, 2000  compared to  $496,000 or 0.64% of loans  receivable,  net at
December 31, 1999. The allowance for loan loss as a percentage of non-performing
assets was 78.17% at December  31,  2000,  compared  to 118.07% at December  31,
1999.

<PAGE>

Noninterest income. Noninterest income increased $53,000 to $298,000 for the six
months ended  December 31, 2000 from $245,000 for the six months ended  December
31, 1999.  The increase is primarily due to an increase in bank service  charges
and fees of $38,000, an increase in investment commission income of $17,000, and
an increase in other noninterest income of $8,000 partially offset by a decrease
in insurance  commissions  of $10,000.  Bank service  charges and fees increased
$38,000 to $226,000 for the six months ended December 31, 2000 from $189,000 for
the six months ended December 31, 1999 primarily due to an increase in overdraft
fee income,  loan fee  income,  and  continued  efforts to  restructure  deposit
account fee  schedules.  Investment  commission  income was  $17,000.  Other fee
income  increased  $8,000 to $27,000 for the six months ended  December 31, 2000
from $19,000 for the six months  ended  December  31, 1999  primarily  due to an
increase  in  rental  income  on real  estate  property.  Insurance  commissions
decreased  $10,000 to $27,000 for the six months  ended  December  31, 2000 from
$37,000  for the  six  months  ended  December  31,  1999  primarily  due to the
fluctuations in the volume of sales of credit life and disability products.

Noninterest  expense.  Noninterest expense increased $36,000 to $1.2 million for
the six months  ended  December  31,  2000 from $1.1  million for the six months
ended December 31, 1999. The increase is primarily due to a $29,000  increase in
occupancy and equipment,  a $20,000  increase in compensation and benefits and a
$2,000 increase in data processing  partially  offset by an $11,000  decrease in
FDIC insurance premium and a $5,000 decrease in other noninterest expense.

Occupancy and equipment expense increased $29,000 to $142,000 for the six months
ended December 31, 2000 from $112,000 for the six months ended December 31, 1999
primarily  due to the cost of opening the  Richland,  Iowa  branch in  September
2000. Compensation and benefits increased $20,000 to $604,000 for the six months
ended December 31, 2000 from $584,000 for the six months ended December 31, 1999
primarily due to the increase in salaries and in the cost of retirement benefits
due to an increase in staff.

FDIC insurance  premiums  decreased  $11,000 to $20,000 for the six months ended
December  31,  2000 from  $31,000  for the six months  ended  December  31, 1999
primarily due to the decrease in Washington  Federal's  regulatory premium rate.
Other noninterest  expense decreased $5,000 to $296,000 for the six months ended
December  31, 2000 from  $301,000  for the six months  ended  December  31, 1999
primarily  due to a  decrease  in the  cost of  collections  on bad  debt  and a
decrease in the cost of real estate foreclosures.

Liquidity  and  capital  resources.  The Banks'  principal  sources of funds are
deposits,  amortization  and prepayment of loan principal,  borrowings,  and the
sale and maturity of investment securities.  While scheduled loan repayments and
maturing  investments are relatively  predictable,  deposit flows and early loan
repayments are more influenced by interest rates,  general economic  conditions,
and  competition.  The Banks  generally  manage the  pricing of the  deposits to
maintain a steady deposit balance,  but has from time to time decided not to pay
deposit rates that are as high as those of the competition,  and when necessary,
to supplement deposits with alternative sources of funds.

Federal  regulations  historically have required  Washington Federal to maintain
minimum levels of liquid assets. The required percentage has varied from time to
time based upon economic conditions and savings flows and is currently 4% of net
withdrawable  savings deposits and borrowings payable upon demand or in one year
or less during the proceeding  calendar month.  Liquid assets for the purpose of
this ratio include cash,  certain time  deposits,  U.S.  Government,  government
agency,  and  corporate  securities  and  other  obligations   generally  having
remaining   maturities  of  less  than  five  years.   Washington   Federal  has
historically  maintained  its  liquidity  ratio at  levels  in  excess  of those
required.  At December 31, 2000, the Washington  Federal's  liquidity  ratio was
15.24%.

Liquidity management is both a daily and long-term responsibility of management.
The Banks  adjust their  investments  in liquid  assets based upon  management's
assessment  of (i) expected  loan demand,  (ii) expected  deposit  flows,  (iii)
yields  available on  interest-bearing  deposits,  and (iv) the objective of its
asset/liability  management  program.  Excess liquidity is invested generally in
interest-bearing  overnight deposits and other short-term  government and agency
obligations.  If the Banks  require  funds beyond their ability to generate them
internally,  they have additional borrowing capacity with the FHLB of Des Moines
and collateral eligible for reverse repurchase agreements.
<PAGE>

The Banks  anticipate  that they will have  sufficient  funds  available to meet
current  loan  commitments.   At  December  31,  2000,  Washington  Federal  had
outstanding  commitments  to extend  credit  which  amounted to $3.4 million and
Rubio Savings Bank had  outstanding  commitments to extend credit which amounted
to $1.4 million.

<PAGE>

Part II - Other Information

Item 1.  Legal Proceedings.

                  None

Item 2.  Changes in Securities and use of proceeds.

                  None

Item 3.  Defaults Upon Senior Securities.

                  None

Item 4.  Submission of Matters to a Vote of Security Holders.

                  At the annual meeting on October 17, 2000 the  stockholders of
Washington  Bancorp  re-elected  three directors and ratified the appointment of
McGladrey  and  Pullen,  LLP as the  auditor for the fiscal year ending June 30,
2001. Total voting by proxy was 451,252 of the 540,034 shares outstanding.

                  Director Stan Carlson  received  449,002 "for" votes and 2,250
"withhold"  votes.  Director  Myron L. Graber  received  430,422 "for" votes and
20,830 "withhold" votes. Director Rick R. Hofer received 443,252 "for" votes and
8,000 "withhold" votes.  McGladrey and Pullen, LLP received 450,726 "for" votes,
100 "against" votes and 426 "abstain" votes.

Item 5.  Other Information.

                  None.

Item 6.  Exhibits and Reports on Form 8-K

                  (a)     Exhibits (listed by numbers corresponding to
                          the Exhibit Table of Item 601 on Regulation S-B)

                           11  Computation of Earnings Per Common Share


                  (b)     Reports on Form 8-K

                  No reports in Form 8-K have been filed  during the quarter for
                  which this report was filed.

<PAGE>

                                                     Signatures

In accordance with the  requirements of the Exchange Act, the registrant  caused
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.

                                         Washington Bancorp
                                         ------------------
                                         (Registrant)

Date     February 12, 2000                     /s/ Stan Carlson
         -----------------                     ---------------------------------
                                               Stan Carlson, President and Chief
                                               Executive Officer

Date     February 12, 2000                     /s/ Leisha A. Linge
         -----------------                     ---------------------------------
                                               Leisha A. Linge, Executive Vice
                                               President

<PAGE>