December 1, 2009 (FinancialWire) — Washington Banking Company (NASDAQ: WBCO), the holding company for Whidbey Island Bank, announced that the underwriters for the recently completed public offering of Washington Banking common stock have exercised in full their over-allotment option to purchase an additional 750,000 shares of Washington Banking common stock.

A total of 5,750,000 shares of Washington Banking common stock were publicly offered and sold in the offering at a price of $9.00 per share, after giving effect to the sale of the shares being sold pursuant to the over-allotment option, for gross proceeds of approximately $51.8 million.

RBC Capital Markets acted as the sole book-running manager. Fig Partners, LLC, McAdams Wright Ragen, Inc. and Wunderlich Securities were co-managers for the offering.

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