ST. LOUIS - Roosevelt Financial Group Inc. said it has agreed to acquire WSB Bancorp, parent of Washington, Mo.-based Washington Savings Bank.

The acquisition, announced April 12, calls for WSB shareholders to get just under $26 million, or $22.75 per share. This price is more than 28 times 1994 earnings and 1.3 times stated book value. WSB's shares had closed at $19.75 in trading on the NASDAQ market April 11.

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