OAK HARBOR, Wash., Feb. 1, 2011 (GLOBE NEWSWIRE) -- Washington Banking Company (Nasdaq:WBCO), the holding company for Whidbey Island Bank, announced today that the Board declared a regular cash dividend of $0.05 per common share, payable March 1 st to shareholders of record on February 11, 2011. This marks the 51 st consecutive quarter for a cash dividend paid to Washington Banking Company's holders of common stock. Washington Banking is scheduled to report fourth quarter and year end 2010 results later today. Management will host a conference call on Wednesday, February 2, 2011 at 10:00 a.m. Pacific time (1:00 p.m. Eastern) to discuss their 2010 fourth quarter/ full year performance. This call will also be broadcast live via the internet. Investment professionals and all current and prospective shareholders are invited to access the live call on Wednesday, 2/2/11 by dialing (480) 629-9722 for conference ID #4365056. To listen to the call online, either live or archived, visit the Investor Relations page of Whidbey Island Bank's website at www.wibank.com . Shortly after the call concludes, the replay will also be available at (303) 590-3030, using access code #4365056. Direct deposit of dividends is available for registered holders of WBCO. The quickest way for registered holders to have their dividends deposited directly into a transaction account is to log-in to the "Investor Centre" area of the transfer agent's website at www.computershare.com . Registered holders of WBCO shares may also enroll in this service by calling Computershare at 1-800-962-4284 and requesting an enrollment form. ABOUT WASHINGTON BANKING COMPANY Washington Banking Company is a bank holding company based in Oak Harbor, Washington, that operates Whidbey Island Bank, a state-chartered full-service commercial bank. Founded in 1961, Whidbey Island Bank provides various deposit, loan and investment services to meet customers' financial needs. Whidbey Island Bank operates 30 full-service branches located in six counties in Northwestern Washington. In June 2009, Washington Banking was added to the Russell 2000 Index, a subset of the Russell 3000 Index. Both indices are widely used by professional money managers as benchmarks for investment strategies.