Effingham’s Washington Savings Bank and First Federal Savings and Loan of Mattoon have finalized their merger.
David Doedtman of Washington Savings Bank will continue as President and CEO, with Jon Spitz serving as Senior Vice-President and Mattoon Market President.
“This merger allows Washington Savings Bank to expand our services in Central Illinois. Not only will we be able to extend the markets we serve, our Bank now has even more resources to benefit both our personal service and commercial customers,” remarked Doedtman. “The addition of an experienced trust and investment team will be a huge benefit in the Effingham market, in particular.”
Spitz adds, “Joining with Washington Savings Bank offers our Mattoon area clients an impressive combination of deposit, loan and electronic banking services. While the name on the bank may be changing, our employees will remain the same, and continue to serve all of our customers with their remarkably high level of customer service.”
Washington Savings Bank is headquartered at 200 S. Banker Street in Effingham, and will maintain locations at 1300 N. Keller Drive in Effingham and 1111 Charleston Ave in Mattoon.
Washington Savings Bank, the second oldest and largest customer owned financial institution in Effingham County, offers a full line of personal and commercial deposit and loan products. The bank has received a 5-Star rating, the highest possible, from Bauer Financial for 27 consecutive years, which has earned Washington Savings Bank the added title of “Best of Bauer Bank”.