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 March 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 issuer's classes of common
equity, as of the latest practicable date.

Common Stock, $.01 par value 555,834 shares outstanding as of May 10, 2000

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 March 31, 2000 (unaudited) and June 30, 1999

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

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

           Unaudited  Consolidated  Statements of Cash Flows for the nine
           months ended March 31, 2000 and 1999

           Notes to Consolidated Financial Statements


Item 2.    Management's Discussion and Analysis of Financial Condition and
           Results of Operations

Part II.   Other Information

           Signatures

           Exhibits


<PAGE>


Item 1.  Consolidated Financial Statements
Washington Bancorp and Subsidiaries

                                               March 31,        June 30,
                                                 2000             1999*
                                             -----------------------------
                                              (Unaudited)
ASSETS
Cash and cash equivalents:
  Interest-bearing                           $  1,556,373     $    901,346
  Noninterest-bearing                           1,133,022        1,656,084
Investment securities:
  Held to maturity                                973,916          760,520
  Available for sale                           23,800,842       20,695,366
Fed funds, sold                                       - -        1,340,000
Loans receivable, net of allowance for
  loan losses of $503,344 in March 2000
  and $472,187 in June 1999                    81,181,923       72,779,177
Accrued interest receivable                     1,240,798        1,190,600
Federal Home Loan Bank stock                    1,490,150          860,000
Foreclosed real estate                            269,832          235,914
Premises and equipment, net                       832,102          874,551
Goodwill, net                                   1,209,604        1,280,526
Other assets                                      656,692          409,996
                                             -----------------------------
          Total assets                       $114,345,254     $102,984,080
                                             =============================

LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
  Deposits:
    Noninterest-bearing                      $  3,179,191     $  2,596,143
    Interest-bearing                           70,430,006       73,093,323
                                             -----------------------------
          Total deposits                       73,609,197       75,689,466
  Borrowed funds                               28,910,480       15,706,290
  Advances from borrowers for taxes and
    insurance                                     111,147          223,033
  Accrued expenses and other liabilities          769,653          464,638
                                             -----------------------------
          Total liabilities                   103,400,477       92,083,427
                                             -----------------------------
Redeemable common stock held by ESOP              224,304          189,972
                                             -----------------------------
Stockholders' Equity:
  Preferred stock                                     - -              - -
  Common stock                                      6,511            6,511
  Additional paid-in capital                    6,165,687        6,150,310
Retained earnings                               7,104,221        6,384,863
Unrealized loss on securities                    (499,676)        (235,778)
Treasury shares                                (1,459,645)        (946,435)
Deferred compensation                             (27,314)         (79,098)
Maximum cash obligation ESOP                     (224,304)        (189,972)
Unearned ESOP shares                             (345,007)        (379,720)
                                             -----------------------------
          Total stockholders' equity           10,720,473       10,710,681
                                             -----------------------------
          Total liabilities and stock-
            holders' equity                  $114,345,254     $102,984,080
                                             =============================

*  Condensed from audited financial statements.

See Notes to Consolidated Financial Statements.
<PAGE>


Washington Bancorp and Subsidiaries

Unaudited Consolidated Statements of Income
<TABLE>
                                                         Three Months Ended        Nine Months Ended
                                                              March 31,                 March 31,
                                                          2000         1999         2000        1999
                                                       -----------------------   -----------------------
<S>                                                    <C>          <C>          <C>          <C>
Interest income:
     Loans receivable:
         First mortgage loans ......................   $1,088,641   $  937,944   $3,182,342   $2,948,121
         Consumer and other loans ..................      590,747      486,893    1,731,538    1,463,305
     Investment securities:
         Taxable ...................................      398,742      361,647    1,108,571    1,048,014
         Non-taxable ...............................       19,583       19,641       50,652       61,088
              Total interest income ................    2,097,713    1,806,125    6,073,103    5,520,528
                                                       -------------------------------------------------
Interest expense:
     Deposits ......................................      814,716      853,990    2,499,256    2,560,475
     Borrowed funds ................................      378,005      211,363      921,810      666,717
                                                       -------------------------------------------------
              Total interest expense ...............    1,192,721    1,065,353    3,421,066    3,227,192
                                                       -------------------------------------------------
              Net interest income ..................      904,992      740,772    2,652,037    2,293,336
Provision for loan losses ..........................       31,000       18,000       70,500       74,000
                                                       -------------------------------------------------
              Net interest income after
                provision for loan losses ..........      873,992      722,772    2,581,537    2,219,336
                                                       -------------------------------------------------
Noninterest income:
     Security gains, net ...........................          - -        3,961          - -       15,205
     Loan origination and commitment fees ..........          684        2,792        4,700        6,155
     Service charges and fees ......................       91,735       62,944      276,653      207,968
     Insurance commisions ..........................       26,546       15,782       52,596       37,554
     Investment center .............................       12,205          - -       18,621          - -
     Other .........................................          478        8,615       23,682       18,949
                                                       -------------------------------------------------
              Total noninterest income .............      131,648       94,094      376,252      285,831
                                                       -------------------------------------------------
Noninterest expense:
     Compensation and benefits .....................      285,644      320,140      869,883      900,259
     Occupancy and equipment .......................       55,172       56,850      167,331      170,403
     SAIF/BIF deposit insurance premium ............       15,638       14,292       46,144       43,473
     Data processing ...............................       27,723       22,989       76,018       65,805
     Goodwill ......................................       23,640       23,640       70,921       70,921
     Other .........................................      136,346      141,187      437,639      426,510
                                                       -------------------------------------------------
              Total noninterest expense ............      544,163      579,098    1,667,936    1,677,371
                                                       -------------------------------------------------
              Income before income taxes ...........      461,477      237,768    1,289,853      827,796
Income tax expense .................................      176,199       84,619      503,299      307,059
                                                       -------------------------------------------------
              Net income ...........................   $  285,278   $  153,149   $  786,554   $  520,737
                                                       =================================================

Earnings per common share
     Basic .........................................   $     0.53   $     0.27   $     1.42   $     0.92
                                                       =================================================
     Diluted .......................................   $     0.52   $     0.27   $     1.39   $     0.90
                                                       =================================================
Dividends per common share .........................   $      - -   $     0.12   $     0.12   $     0.36
                                                       =================================================
Weighted average common shares for:
     Basic earnings per share ......................      541,763      560,073      554,715      563,817
                                                       =================================================
     Diluted earnings per share ....................      548,549      573,926      563,894      578,744
                                                       =================================================
</TABLE>
See Notes to Consolidated Financial Statements.
<PAGE>



Washington Bancorp and Subsidiaries
Unaudited Consolidated Statements of Comprehensive Income
<TABLE>
                                                       Three Months Ended        Nine Months Ended
                                                             March 31,               March 31,
                                                         2000        1999         2000       1999
                                                     ----------------------    ---------------------
<S>                                                  <C>          <C>          <C>         <C>
Net income .......................................   $ 285,278    $ 153,149    $ 786,554   $ 520,737
Gross unrealized (losses) on
     securities available for sale ...............     (77,040)     (65,559)    (421,938)    (24,355)
Less reclassification adjustments for
     gains included in net income ................         - -       (3,961)         - -     (15,315)
Income tax expense related to items
     of other comprehensive income ...............      28,642       26,320      158,040      14,877
                                                     ----------------------    ---------------------
Comprehensive income .............................   $ 236,880    $ 109,949    $ 522,656   $ 495,944
                                                     ======================    =====================
</TABLE>

See Notes to Consolidated Financial Statements.

<PAGE>

Washington Bancorp and Subsidiaries

Unaudited Consolidated Statements of Cash Flows
Nine Months Ended March 31, 2000 and 1999


                                                      2000           1999
                                                  --------------------------
Cash Flows From Operating Activities:
  Net income                                      $   786,554     $  520,737
  Adjustments to reconcile net income to net
    cash provided by operating activities:
    Amortization of premiums and discouns
      on debt securities                               24,190        (51,599)
    Amortization of goodwill                           70,921         70,921
    Provision for loan losses                          70,500         74,000
    (Gain) on sale of investments                         - -        (15,205)
    (Gain) on sale of foreclosed real estate           (7,606)        (9,899)
    Depreciation                                       68,498         55,450
    Compensation under stock awards                    22,615         46,524
    ESOP contribution expense                          47,909         55,937
    Deferred income tax                                14,000        (76,153)
    (Increase) in accrued interest receivable         (50,198)      (118,576)
    (Increase) decrease in other assets                52,713       (103,158)
    Increase in accrued expenses and other
      liabilities                                     149,648         14,187
                                                   -------------------------
     Net cash provided by operating activities      1,249,744        463,166
                                                   -------------------------
Cash Flows From Investing Activities
  Held to maturity securities:
    Purchases                                        (215,000)           - -
  Available for sale securities:
    Sales                                                 - -      1,800,000
    Maturities and calls                            1,350,000     20,050,432
    Purchases                                      (4,900,000)   (23,660,000)
  Federal funds sold, net                           1,340,000     (2,923,186)
  Purchases of Federal Home Loan Bank stock          (630,150)       (47,600)
  Loans made to customers, net                     (8,499,558)    (4,642,706)
  Sale of premises and equipment                       17,578            - -
  Purchase of premises and equipment                  (43,627)      (151,133)
                                                  --------------------------
     Net cash (used in) investing activities      (11,580,757)    (9,574,193)
                                                  --------------------------
Cash Flows From Financing Activities
  Net increase (decrease) in deposits              (2,080,269)    11,076,487
  Proceeds from Federal Home Loan Bank
    advances                                      304,400,000      6,250,000
  Principal payments on Federal Home Loan Bank
    advances                                     (291,195,810)    (6,954,423)
  Net increase (decrease) in advances from
    borrowers for taxes and insurance                (111,886)      (111,320)
  Acquisition of common stock                        (481,860)      (684,125)
  Dividends paid                                      (67,197)      (204,502)
                                                  --------------------------
                                                  $10,462,978    $ 9,372,117
                                                  --------------------------
     Net increase in cash and cash equivalents        131,965        261,090
Cash and cash equivalents:
  Beginning                                         2,557,430      3,306,374
                                                  --------------------------
  Ending                                          $ 2,689,395    $ 3,567,464
                                                  ==========================
Supplemental Disclosures of Cash Flow
  Information
  Cash payments for:
    Interest paid to depositors                   $ 2,105,351    $ 2,169,304
    Interest paid on other obligations                909,495        666,717
    Income taxes, net of refunds                      313,780        334,312

Supplemental Schedule of Noncash Investing
  and Financing Activities
  Transfers from loans to foreclosed real
    estate                                        $   114,811    $   360,667
  Contract sales of foreclosed real estate             75,250        173,233

See Notes to Consolidated Financial Statements.
<PAGE>



Washington Bancorp and Subsidiary
Notes to Consolidated Financial Statements

Principles of consolidation.  The accompanying consolidated financial statements
include the accounts of  Washington  Bancorp,  Washington  Federal  Savings Bank
("Washington Federal"), Washington Federal'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 three month period ended March 31,
2000 and for the nine month period ended March 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, 1999 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.

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.

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 March 31, 2000 the capital requirements of Washington Federal
under  FIRREA and its actual  capital  ratios.  As of March 31, 2000  Washington
Federal exceeded all current regulatory capital requirement standards.

                                                At March 31, 2000
                                              -----------------------
                                              Amount          Percent
                                              -----------------------
                                              (Dollars in thousands)
                                                    (unaudited)
Tangible Capital:
         Capital Level ...............        $7,227            7.89%
         Requirement .................         1,374            1.50%
                                              -----------------------
         Excess ......................        $5,853            6.39%
                                              -----------------------


Core Capital:
         Capital Level ...............        $7,227            7.89%
         Requirement .................         3,664            4.00%
                                              -----------------------
         Excess ......................        $3,563            3.89%
                                              -----------------------


Risk-Based Capital:
         Capital Level ...............        $7,607           12.26%
         Requirement .................         4,964            8.00%
                                              -----------------------
         Excess ......................        $2,643            4.26%
                                              -----------------------
<PAGE>


The following table summarizes the capital requirements of Rubio Savings Bank of
Brighton.  As of March 31, 2000 Rubio  Savings Bank  substantially  exceeded all
current regulatory capital requirement standards.

                                                   At March 31, 2000
                                                ----------------------
                                                Amount         Percent
                                                ----------------------
                                                (Dollars in thousands)
                                                     (unaudited)
Tier 1 or Leverage Capital:
         Capital Level ..................       $2,376          10.47%
         Requirement ....................          681           3.00%
                                                ----------------------
         Excess .........................       $1,695           7.47%
                                                ----------------------

Tier 1 Risk-based Capital:
         Capital Level ..................       $2,376          16.55%
         Requirement ....................          574           4.00%
                                                ----------------------
         Excess .........................       $1,802          12.55%
                                                ----------------------

Risk-Based Capital:
         Capital Level ..................       $2,478          17.26%
         Requirement ....................        1,149           8.00%
                                                ----------------------
         Excess .........................       $1,329           9.26%
                                                ----------------------
<PAGE>


Item 2.  Management's Discussion and Analysis of Financial Condition and
Results of Operations

Forward-Looking Statements

         When used in this Form 10-QSB or future  filings by Washington  Bancorp
with the  Securities  and Exchange  Commission,  in Washington  Bancorp'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.  Washington Bancorp 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 Washington Bancorp's financial performance
and could cause Washington Bancorp's actual results for future periods to differ
materially from those anticipated or projected.

         Washington Bancorp 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 FDIC.

         In March  1996,  Washington  Federal  converted  to the  stock  form of
organization  through the sale and  issuance of its common  stock to  Washington
Bancorp. On June 24, 1997, Washington Bancorp 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, Wellman Federal Savings,  a full-service  branch
of  Washington  Federal was opened in Wellman,  Iowa.  In July 1999,  Washington
Federal formed a collaborative  relationship with Eagle One Financial  Services,
LLC, to provide financial  planning  services and the sale of annuities,  mutual
funds,  stocks  and  bonds.  The  principal  assets of  Washington  Bancorp  are
Washington  Federal and Rubio Savings Bank.  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.

         The Company is  investigating  the  possibility of  de-registering  the
stock in an effort to reduce  expenses.  In order to de-register from NASDAQ the
Company must first receive permission from the SEC to de-list the company. These
efforts will be  achievable  when there are fewer than 300 record  holders.  The
Company's  shares  trade  infrequently  and are widely held in the local area of
Washington,  Iowa.  Therefore no negative impact for the liquidity of the shares
is expected.

         Washington  Federal  attracts  deposits from the general  public in its
local market area and uses such deposits  primarily to invest in owner  occupied
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.

         Washington  Federal  filed an  application  with the  Office  of Thrift
Supervision  (the  "OTS") on August 19, 1998 to branch into  Richland,  Iowa,  a
small rural  community of 500, which  currently has a branch of a large regional
bank. The branch application approval has been extended by the OTS until October
1, 2000.  Washington  Federal  plans to open the branch  office on  September 1,
2000.
<PAGE>


         Rubio  Savings Bank 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,  corporate  bonds,  agricultural
operating loans,  commercial loans, one- to- four family residential real estate
loans, and farm real estate loans. Rubio Savings Bank also makes commercial real
estate loans, automobile loans and consumer loans.

         In addition to the earnings  per share  ("EPS")  information  typically
disclosed,  the Company  provided  "tangible" EPS as an alternative  measure for
evaluating  the Company's  ability to grow its tangible  capital.  The Company's
tangible EPS is  calculated  by dividing the total of goodwill  expense plus net
income by the weighted average number of diluted common shares outstanding.  For
the three months  ended March 31, 2000 the  tangible  EPS was $0.56  compared to
$0.31 for the three months ended March 31, 1999. For the nine months ended March
31, 2000 the tangible EPS was $1.52  compared to $1.02 for the nine months ended
March 31, 1999.

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

Financial Condition

Total assets.  Total  consolidated  assets  increased  $11.3 million from $103.0
million at June 30, 1999 to $114.3  million at March 31, 2000.  The increase was
primarily  due to a $8.4 million  increase in loans  receivable,  a $3.3 million
increase in investment securities, a $630,000 increase in Federal Home Loan Bank
stock, a $247,000 increase in other assets, a $129,000 increase in cash and cash
equivalents,  a $50,000 increase in accrued interest  receivable,  and a $34,000
increase in foreclosed real estate  partially  offset by a $1.3 million decrease
in fed funds, sold , a $71,000 decrease in goodwill, net, and a $42,000 decrease
in premises and equipment.  The increase was primarily funded by a $13.2 million
increase  in  borrowed  funds  partially  offset by a $2.1  million  decrease in
deposits.

Loans  receivable.  Loans  receivable,  net,  increased $8.4 million from $72.8
million at June 30, 1999 to $81.2  million at March 31, 2000.  This  increase is
primarily  due to increased  loan demand in  Washington  Bancorp=s  market area.
Washington  Bancorp's  non-performing  assets  were  $810,000  or 0.71% of total
assets at March 31, 2000 as  compared  to  $326,000 or 0.32% of total  assets at
June  30,  1999.  Non-performing  assets  have  increased  primarily  due to the
acquisition of two real estate properties in-lieu of foreclosure. The Company is
in the process of liquidating the assets and no loss is expected.

Investment securities.  Investment securities  available-for-sale increased $3.1
million from $20.7  million at June 30, 1999 to $23.8 million at March 31, 2000.
Securities  classified as held to maturity  increased  $213,000 from $761,000 at
June 30, 1999 to $974,000 at March 31, 2000. The portfolio of available-for-sale
securities  is  comprised  primarily of  investment  securities  carrying  fixed
interest  rates.  The fair  value of these  securities  is subject to changes in
interest  rates.  The fair value of these  securities was less on March 31, 2000
than their  carrying  value due to an increase in market rates of interest since
the purchase date of the securities.  Therefore,  the total balance of available
for sale securities includes the gross effect of the unrealized loss.

Deposits. Deposits decreased $2.1 million from $75.7 million at June 30, 1999 to
$73.6  million  at  March  31,  2000.  This  decrease  is  primarily  due to the
competitive  pricing of  certificate  of deposit  products and other  investment
products  available  in  our  market  area.  Transaction  and  savings  deposits
increased as a percentage of total  deposits from $25.7 million or 34.0% at June
30, 1999 to $26.9  million or 36.6% at March 31, 2000.  Certificates  of deposit
decreased as a percentage of total  deposits from $50.0 million or 66.0% at June
30, 1999 to $46.7 million or 63.4% at March 31, 2000.

FHLB borrowings.  The total principal  balance of advances from the Federal Home
Loan Bank of Des Moines  (FHLB)  increased  $13.2  million from $15.7 million at
June 30, 1999 to $28.9 million at March 31, 2000.  The increase is primarily due
to the  increased  need to borrow to fund loan growth  activity  and  investment
activity.  Washington  Federal has utilized the FHLB advances for this growth in
an effort to control its cost of funds.  The  portfolio of  borrowings  contains
both long and short term borrowings.
<PAGE>


Advances from borrowers for taxes and  insurance.  The total balance in advances
from borrowers for taxes and insurance  decreased $112,000 from $223,000 at June
30,  1999 to  $111,000  at  March  31,  2000  primarily  due to the  payment  of
semi-annual real estate taxes which were due March 31, 2000.

Total stockholders'  equity.  Total stockholders'  equity increased $10,000 from
$10.7 million at June 30, 1999 to $10.7 million at March 31, 2000.  The increase
is primarily due to net income of $787,000, the allocation of shares in the ESOP
of $48,000, and the amortization of deferred  compensation under the Recognition
and Retention Plan of $23,000, partially offset by the purchase of 35,810 shares
of the Company's  common stock at a total cost of $482,000,  the net  unrealized
loss in available- for- sale securities of $264,000,  dividends paid of $67,000,
and the change in redeemable common stock held by the ESOP of $34,000.

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

Performance  summary.  Net income  increased  $132,000 to $285,000 for the three
months  ended March 31, 2000 from  $153,000 for the three months ended March 31,
1999.  The  increase is  primarily  due to an  increase  in  interest  income of
$291,000,   an  increase  in  noninterest  income  of  $38,000,  a  decrease  in
noninterest  expense of $35,000  which was  partially  offset by an  increase in
interest expense of $127,000,  an increase in income tax expense of $92,000, and
an increase in provision for loan losses of $13,000.  For the three months ended
March 31, 2000, the annualized return on average assets was 1.03% as compared to
0.60% for the three  months  ended  March 31,  1999.  The  annualized  return on
average equity was 10.62% for the three months ended March 31, 2000, as compared
to 5.77% for the three months ended March 31, 1999.

Net interest income.  Net interest income increased $164,000 to $905,000 for the
three months ended March 31, 2000 from $741,000 for the three months ended March
31, 1999.  The increase is primarily due to the increase of $291,000 in interest
income to $2.1  million  for the three  months  ended  March 31,  2000 from $1.8
million for the three months ended March 31, 1999, which was partially offset by
an increase of $127,000 in interest expense to $1.2 million for the three months
ended March 31,  2000 from $1.1  million  for the three  months  ended March 31,
1999.

For the three months ended March 31, 2000, the average yield on interest-earning
assets was 7.94%  compared to 7.54% for the three  months  ended March 31, 1999.
The average cost of interest-bearing  liabilities was 4.97% for the three months
ended March 31,  2000  compared  to 4.93% for the three  months  ended March 31,
1999. The average balance of  interest-earning  assets increased $8.8 million to
$106.0  million for the three months ended March 31, 2000 from $97.2 million for
the three  months ended March 31,  1999.  During this same  period,  the average
balance of interest-bearing  liabilities increased $8.7 million to $96.3 million
for the three  months  ended  March 31,  2000 from $87.6  million  for the three
months ended March 31, 1999.

Due to the  increase  in yield on the  interest-earning  assets and  despite the
increase in rates paid on the interest-bearing liabilities, the average interest
rate spread was 2.97% for the three  months  ended  March 31,  2000  compared to
2.61% for the three months ended March 31, 1999. The average net interest margin
was 3.42% for the three  months  ended March 31, 2000  compared to 2.61% for the
three months ended March 31, 1999.

Provision for loan loss.  Provision for loan loss  increased  $13,000 to $31,000
for the three  months  ended  March 31,  2000  compared to $18,000 for the three
months  ended March 31,  1999.  Washington  Bancorp=s  loan  portfolio  consists
primarily of residential  mortgage loans and it has experienced a minimal amount
of  charge-offs  in the past three  years.  The  allowance  for loan  losses was
$503,000  or 0.62% of  loans  receivable,  net at March  31,  2000  compared  to
$442,000 or 0.63% of loans receivable,  net at March 31, 1999. The allowance for
loan loss as a percentage of non-performing assets was 62.14% at March 31, 2000,
as compared to 177.16% at March 31, 1999.

Noninterest  income.  Noninterest  income increased  $38,000 to $132,000 for the
three  months ended March 31, 2000 from $94,000 for the three months ended March
31, 1999.  The increase is primarily due to an increase in bank service  charges
and fees of $29,000, an increase in investment center income of $12,000,  and an
increase in insurance  commissions  of $11,000 which was  partially  offset by a
decrease in other  noninterest  income of $8,000,  a decrease in security gains,
net of $4,000 and a decrease in loan origination and commitment fees of $2,000.
<PAGE>


Bank service charges and fees increased  $29,000 to $92,000 for the three months
ended March 31,  2000 from  $63,000  for the three  months  ended March 31, 1999
primarily due to an increase in overdraft  fee income and  continued  efforts in
restructuring  fee  schedules.  Investment  center income  generated  $12,000 in
income from the investment center opened in July of 1999. Insurance  commissions
increased  $11,000 to $27,000  for the three  months  ended  March 31, 2000 from
$16,000 for the three months ended March 31, 1999 primarily due to  fluctuations
in the volume of sales of credit life and disability products.

Noninterest  expense.  Noninterest expense decreased $35,000 to $544,000 for the
three months ended March 31, 2000 from $579,000 for the three months ended March
31, 1999.  The decrease is primarily due to a $34,000  decrease in  compensation
and  benefits,  a $5,000  decrease  in other  noninterest  expense  and a $2,000
decrease in occupancy  and equipment  expense  which was  partially  offset by a
$5,000  increase in data  processing  expense,  and a $1,000 increase in deposit
insurance premiums.

The $34,000  decrease in  compensation  and  benefits to $286,000  for the three
months  ended  March  31,  2000  from   $320,000  was   primarily   due  to  the
reorganization  of staff among the three  full-service  banking  locations.  The
$5,000  decrease in other  noninterest  expense to $136,000 for the three months
ended March 31, 2000 from $141,000 for the three months ended March 31, 1999 was
primarily due to a decrease in office supply expense.

Results of Operations - Nine Months Ended March 31, 2000 As Compared To The Nine
Months Ended March 31, 1999

Performance  summary.  Net income  increased  $266,000 to $787,000  for the nine
months  ended March 31, 2000 from  $521,000  for the nine months ended March 31,
1999.  The  increase is  primarily  due to an  increase  in  interest  income of
$553,000,   an  increase  in  noninterest  income  of  $90,000,  a  decrease  in
noninterest  expense of $9,000,  and a decrease in provision  for loan losses of
$4,000,  which was  partially  offset by an  increase  in  interest  expense  of
$194,000, and an increase in income tax expense of $196,000. For the nine months
ended  March 31,  2000,  the  annualized  return on average  assets was 0.97% as
compared  to 0.70% for the nine  months  ended March 31,  1999.  The  annualized
return on average  equity was 9.74% for the nine months ended March 31, 2000, as
compared to 6.50% for the nine months ended March 31, 1999.

Net interest income.  Net interest income increased $359,000 to $2.7 million for
the nine months ended March 31, 2000 from $2.3 million for the nine months ended
March 31, 1999.  The  increase is  primarily  due to the increase of $553,000 in
interest  income to $6.1  million for the nine months  ended March 31, 2000 from
$5.5  million for the nine  months  ended March 31,  1999,  which was  partially
offset by an  increase in  interest  expense of $194,000 to $3.4  million of the
nine months  ended March 31,  2000 from $3.2  million for the nine months  ended
March 31, 1999.

For the nine months ended March 31, 2000, the average yield on  interest-earning
assets was 7.89% compared to 7.77% for the nine months ended March 31, 1999. The
average cost of interest-bearing liabilities was 4.90% for the nine months ended
March 31, 2000  compared to 5.06% for the nine months ended March 31, 1999.  The
average  balance of  interest-earning  assets  increased  $7.8 million to $102.5
million for the nine months ended March 31, 2000 from $94.7 million for the nine
months ended March 31, 1999.  During this same  period,  the average  balance of
interest-bearing  liabilities  increased  $7.8 million to $92.9  million for the
nine months  ended March 31, 2000 from $85.1  million for the nine months  ended
March 31, 1999.

Due to the  increase  in yield on  interest-earning  assets and the  decrease in
rates paid on the interest-bearing liabilities, the average interest rate spread
was 2.99% for the nine months  ended  March 31,  2000  compared to 2.71% for the
nine months ended March 31, 1999. The average net interest  margin was 3.44% for
the nine months ended March 31, 2000 compared to 3.23% for the nine months ended
March 31, 1999.

Provision for loan loss.  Provision for loan loss decreased  $3,000 for the nine
months  ended March 31, 2000 to $71,000  from  $74,000 for the nine months ended
March 31,  1999.  Washington  Bancorp=s  loan  portfolio  consists  primarily of
residential   mortgage  loans  and  it  has  experienced  a  minimal  amount  of
charge-offs in the past three years.  The allowance for loan losses was $503,000
or 0.62% of loans  receivable,  net at March 31,  2000  compared  to $442,000 or
0.63% of loans receivable, net at March 31, 1999. The allowance for loan loss as
a percentage of non-performing  assets was 62.14% at March 31, 2000, as compared
to 177.16% at March 31, 1999.
<PAGE>


Noninterest  income.  Noninterest  income increased  $90,000 to $376,000 for the
nine months  ended March 31, 2000 from  $286,000 for the nine months ended March
31, 1999.  The increase is primarily due to an increase in bank service  charges
and fees of $67,000,  an  increase  in  insurance  commissions  of  $15,000,  an
increase in investment center income of $19,000, an increase in other fee income
of  $15,000,  and an increase in other  noninterest  income of $5,000  which was
partially  offset by a decrease in security gains, net of $15,000 and a decrease
in loan origination and commitment fee of $1,000.

Bank service charges and fees increased  $67,000 to $277,000 for the nine months
ended March 31,  2000 from  $208,000  for the nine  months  ended March 31, 1999
primarily due to an increase in overdraft  fee income and  continued  efforts to
restructure  fee  schedules.  Investment  center  income was  $19,000 due to the
opening of an investment center in July 1999.  Insurance  commissions  increased
$15,000 to $53,000 for the nine months ended March 31, 2000 from $38,000 for the
nine months ended March 31, 1999 primarily due to the fluctuations in the volume
of sales of credit  life and  disability  products.  Other fee income  increased
$5,000 to $24,000 for the nine months  ended March 31, 2000 from $19,000 for the
nine months  ended March 31, 1999  primarily  due to an increase in the gain and
income  on real  estate  property  and an  increase  in the  penalty  for  early
withdrawal on certificates of deposit..

Noninterest  expense.  Noninterest  expense decreased $9,000 to $1.7 million for
the nine months ended March 31, 2000 from $1.7 million for the nine months ended
March  31,  1999.  The  decrease  is  primarily  due to a  $30,000  decrease  in
compensation and benefits and a $3,000 decrease in occupancy and equipment which
was partially  offset by an $11,000  increase in other  noninterest  expense,  a
$10,000 increase in data processing,  and a $3,000 increase in deposit insurance
premiums.

Compensation  and  benefits  decreased  $30,000 to $870,000  for the nine months
ended March 31,  2000 from  $900,000  for the nine  months  ended March 31, 1999
primarily  due to the  reorganization  of staff  among  the  three  full-service
banking locations.  Other noninterest  expense increased $11,000 to $438,000 for
the nine months  ended March 31, 2000 from  $427,000  for the nine months  ended
March 31, 1999 primarily due to the examination  expense incurred at Rubio. Data
processing increased $10,000 to $76,000 for the nine months ended March 31, 2000
from $66,000 for the nine months ended March 31, 1999  primarily due to the cost
of  changing  and  maintaining  the  communication   technology  with  the  data
processing center to frame relay from satellite.

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,  and, most recently,  the restructuring of the thrift industry.
The Banks  generally  manage the  pricing of the  deposits  to maintain a steady
deposit  balance,  but have 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,   other
governmental  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 March 31, 2000, Washington Federal's liquidity ratio was 16.89%.

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 Washington Federal requires funds beyond its ability to generate
them  internally,  it has  additional  borrowing  capacity  with the FHLB of Des
Moines and collateral eligible for reverse repurchase agreements.

The Banks  anticipate  that they will have  sufficient  funds  available to meet
current loan commitments.  At March 31, 2000, Washington Federal had outstanding
commitments  to extend  credit which  amounted to $5.6 million and Rubio Savings
Bank had  outstanding  commitments  to  extend  credit  which  amounted  to $1.1
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.

         None

Item 5.  Other Information.

         None

Item 6.  Exhibits and Reports on Form 8-K

         (a)  Exhibits

              11   Computation of Earnings Per Share

              27   Financial Data Schedule

         (b)  Reports on Form 8-K

              No  reports in Form 8-K have been  filed  during  the  quarter
              ended March 31, 2000


<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     May 10, 2000                       /s/ Stan Carlson
         ------------                       ------------------------------------
                                            Stan Carlson, President and Chief
                                              Executive Officer

Date     May 10, 2000                       /s/ Leisha A. Linge
         ------------                       ------------------------------------
                                            Leisha A. Linge, Vice President and
                                              Treasurer