March 29, 2023

Dear Shareholders:

I would like to extend an invitation to each one of you to attend W.T.B. Financial Corporation's Annual Shareholders' Meeting to be held in-person at the Bank on April 24th at 1:30 pm. Investor information, including the Company's yearend 2022 Audited Financial Statements, is always available on our Investor Relations webpage(www.watrust.com/about/investor-relations), including news releases, earnings reports, financial statements and other matters of interest to our shareholders.

2022 was a record setting year with earnings coming in at $114 million. There were many contributors to the strong level of earnings, and the steep rise in rates was one of them. Our balance sheet is typically asset sensitive and the sharp increase in interest rates enabled the rise in our earning asset yields to outpace our funding costs. Our challenge will come in 2023 as funding costs try to catch up a little with the Fed's major rate moves.

Given recent industry events and a very active news cycle, that same rise in rates caused significant problems for a few institutions that each had their own exposures, weaknesses and stories that unfortunately did not end well.

Our general perspective on the disruption that is happening out there is that running a community bank, with a relationship based business model, a diversified customer base and a strong balance sheet is the exact right positioning for these tumultuous times.

We always look forward to the Annual Shareholders' Meeting as an opportunity to visit with each of you, go over the prior year's performance and cover other corporate matters. It cannot be said enough how grateful we are for your trust and continuing investment with us at W.T.B. Financial Corporation.

Best regards,

Peter F. Stanton Chairman & President W.T.B. Financial Corporation

Washington Trust Financial Center

Phone 509.353.BANK (2265)

P.O. Box 2127

Outside Spokane 1.800.788.4578

Spokane, WA 99210-2127

watrust.com

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WTB Financial Corporation published this content on 29 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 March 2023 08:03:09 UTC.