Federation Bank
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Data as of · sourced from FFIEC call reports. How we update
Federation Bank is an FDIC-insured commercial bank headquartered in Washington, IA, established in 1906 (FDIC certificate 14352), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $155.8M, up 4.6% from Q2 2025, the 161st largest of 225 banks headquartered in Iowa. It reports no CET1 ratio; its Tier 1 leverage ratio was 10.49% at Q2 2026, above the 9% community bank leverage ratio requirement for being considered well capitalized.
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 14352
- Headquarters
- Washington, IA
- Established
- 1906
- Total assets, Q2 2026
- $155.8M
- Assets vs Q2 2025
- +4.6%
- Tier 1 leverage ratio, Q2 2026
- 10.49%
- Domestic offices
- 4 FDIC institution directory, current count
- Routing number
- 073915672
- Holding company
- WASHINGTON BANCORP
- Asset rank in state
- 161st of 225 in Iowa
Federation Bank, based in Washington, Iowa, reported $156 million in assets at June 30, 2026, up 4.6% from a year earlier. It holds commercial real estate loans equal to only 29% of its capital, a small fraction of the median of 1.2 times for the 2,660 banks with $100 million to $1 billion in assets. It also pays an average of 1.22% on its deposits and borrowings, lower than about three-quarters of banks its size (median 1.80%).
Problem loans fell by more than half over the year: loans on nonaccrual or 90 or more days past due, net of government guarantees are down to 0.20% of loans from 0.94%. Earnings jumped: net income for the quarter was $573,000, 36% above the same quarter a year earlier. One more trend to watch: loans are outrunning deposits: over the year loans rose 10.7% and deposits rose 3.6%.
As of June 30, 2026, Federation Bank reported a return on assets of 1.50%, a nonperforming-loan ratio of 0.20% and a Texas ratio of 1.13%. The figures come from its call report filed with the FFIEC.
By total assets at Q2 2026, Federation Bank is the 161st largest of the 225 banks headquartered in Iowa. From Q1 2026 to Q2 2026, its total assets rose 3.1% to $155.8M, loans rose 2.0% and deposits rose 1.4%. Its loan book on June 30, 2026 was led by 1-4 family residential loans, at 30.4% of total loans, followed by farmland and other real estate loans at 26.0%. Its 4 offices in the FDIC Summary of Deposits are in 4 cities in IA; its Washington office books 51% of its branch deposits. On its Q2 2026 call report, Federation Bank meets the community bank leverage ratio test for well capitalized.
Headquarters Profile
- Address
- 300 S Iowa Ave, Washington, IA 52353
- County
- Washington
- Metro Area
- Iowa City, IA
- Charter
- Commercial bank, state charter, Fed non-member, FDIC-supervised
- Primary Regulator
- FDIC
- FDIC Region
- Kansas City (Region 11)
- Federal Reserve member
- No
- Federal Reserve district
- District 7, Chicago
- Fiduciary (trust) powers
- Trust powers not granted
- Call Report form
- FFIEC 051
- Established
- November 1, 1906
- Former names
- Rubio Savings Bank of Brighton (1941-2003)
- Domestic offices
- 4 FDIC institution directory, current count
- Employees (FTE)
- 24
- Domestic deposits
- $133.8M
- Allowance for credit losses
- $1.2M
- Net charge-offs (YTD)
- -$26K
- Average total assets
- $153.1M
- Average total loans
- $81.2M
- Average interest-bearing deposits
- $100.7M
- Tax status
- Subchapter S
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- April 18, 1934
- FDIC Cert
- 14352
- Fed RSSD
- 764142
- SEC CIK
- 1002907 → filed by WASHINGTON BANCORP
- Website
- www.federationbankia.com →
- Parent Holding Company
- WASHINGTON BANCORP (RSSD 2604493)
Profitability
Q2 annualizedBalance Sheet
Income Statement
Operating & Funding
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. As a community bank leverage ratio filer, Federation Bank reports no risk-based capital ratios; its Tier 1 leverage ratio applies. How we compute these figures
Quarterly trends
From Q3 2023 to Q2 2026, Federation Bank's total assets ranged from $139.8M (Q2 2024) to $155.8M (Q2 2026), and it earned a profit in all 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$155.8M total assets against $149.0M; $141.2M total liabilities against $136.7M.
$81.7M net loans and leases against $73.7M; $133.8M total deposits against $129.2M.
$51.2M securities against $58.5M; $13.6M cash and balances due against $6.8M.
$1.8M total interest income against $1.7M; $417K total interest expense against $412K.
$1.4M net interest income against $1.3M.
$165K total noninterest income against $147K; $972K total noninterest expense against $992K.
$0 provision for credit losses against $0.
$573K net income against $421K.
1.50% return on assets against 1.11%; 3.98% net interest margin against 3.75%.
10.49% tier 1 leverage ratio against 9.80%.
Inside the full Federation Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeFederation Bank rankings
Its closest position to the top of a national ranking is 1,318 of 3,611, for ROA; its furthest is 3,248 of 4,196, for total assets.
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from 0.53% (Q4 2024) to 2.12% (Q1 2026) and its net interest margin ran from 3.43% (Q3 2024) to 4.80% (Q1 2026).
| Quarter | Leverage | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 10.49% | 1.50% | 0.20% | 1.13% | 3.98% |
| Q1 2026 | 10.52% | 2.12% | 0.40% | 2.18% | 4.80% |
| Q4 2025 | 10.01% | 1.25% | 0.28% | 1.54% | 3.94% |
| Q3 2025 | 10.07% | 1.19% | 0.35% | 5.32% | 3.86% |
| Q2 2025 | 9.80% | 1.11% | 0.94% | 9.48% | 3.75% |
| Q1 2025 | 9.66% | 0.82% | 0.25% | 5.40% | 3.57% |
| Q4 2024 | 9.59% | 0.53% | 0.34% | 6.64% | 3.63% |
| Q3 2024 | 9.86% | 0.84% | 0.32% | 7.49% | 3.43% |
Swipe the table sideways to see every column.
Branch Network
View all 4 branches → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| Federation Bank (main office) | Washington , IA | 52353 | $68.1M |
| Brighton Branch | Brighton , IA | 52540 | $25.3M |
| Wellman Branch | Wellman , IA | 52356 | $22.6M |
| Richland Branch | Richland , IA | 52585 | $17.8M |
Events & Regulatory History
Mergers, charter changes, enforcement actions, FDIC assistance, and (if applicable) failure events recorded against this institution. Click a year to see what else was happening across US banking that year.
| Date | Category | Event | Source |
|---|---|---|---|
| April 16, 2003 | Structure Change | Acquired Washington Federal Savings Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| April 15, 2003 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
Sourced from the bank event history (FDIC, Federal Reserve NIC, OCC, and OTS). Showing the most recent 2 events.
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- 0.1% of deposits in IA, rank 179 of 261 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 60 applications, 48 loans originated, $6.4M originated, across 1 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 1 loans, $770K approved, $770K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2006 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Not on file
- Enforcement actions, Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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Frequently asked about Federation Bank
What are Federation Bank's total assets?
As of the Q2 2026 filing, Federation Bank reported total assets of $155.8 million in its FFIEC call report.
Where is Federation Bank headquartered?
It is headquartered in Washington, IA, United States.
When was Federation Bank founded?
It was established in 1906, per the FDIC institution directory.
Is Federation Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #14352). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Federation Bank?
Federation Bank's primary federal regulator is the FDIC.
How many branches does Federation Bank operate?
It operates 4 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is Federation Bank's Texas Ratio?
Its Texas Ratio is 1.13% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
What was Federation Bank previously called?
The charter now named Federation Bank has also operated as Rubio Savings Bank of Brighton (1941-2003), per FDIC structure-change records.
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