WSB Financial Group, Inc. Announces FDIC Receivership of Its Bank Subsidiary, Westsound...

WSB Financial Group, Inc. Announces FDIC Receivership of Its Bank Subsidiary,
Westsound Bank

BREMERTON, Wash., May 11, 2009 (GLOBE NEWSWIRE) -- WSB Financial Group, Inc.
(Nasdaq:WSFG), announced today that on Friday, May 8, 2009, Westsound Bank, the
wholly-owned subsidiary of the Company, was closed by the State of Washington,
Department of Financial Institutions, Division of Banks and the Federal Deposit
Insurance Corporation was appointed as receiver of the Bank.

In addition, the Company announced that on May 8, 2009, immediately following
the closure of the Bank, all of the directors of Westsound Bank resigned from
its board. Terry A. Peterson and Richard N. Christopherson also resigned from
the board of directors of WSB Financial Group, Inc., and the Chairman of the
Board of Directors of WSB Financial Group, Inc., Donald F. Cox, Jr., agreed to
serve as interim president and chief executive officer of the Company, replacing
Mr. Peterson in that role.

The Company's shares of Westsound Bank were its principal asset, and as a result
of the Bank's closure, the Company is insolvent and will either be dissolved and
liquidated by its board of directors or file a Chapter 7 bankruptcy proceeding
for liquidation.

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CONTACT: WSB Financial Group, Inc.
Thomas A. Sterken, Registered Agent
206-623-1900