LAW OFFICES OF
KELLER ROHRBACK L.L.P.
- --------------------------------------------------------------------------------
LAURIE B. ASHTON + P > C
IAN S. BIRK
STEPHEN R. BOATWRIGHT + > C
KAREN E. BOXX C
JOHN H. BRIGHT
GRETCHEN FREEMAN CAPPIO
JASON P. CHUKAS
T. DAVID COPLEY #
ALICIA M. CORBETT + > C
CLAIRE CORDON
SHANE P. CRAMER # C
ROB J. CRICHTON -
JULI FARRIS DESPER ! /
MAUREEN M. FALECKI !
RAYMOND J. FARROW
DANIEL S. FRIEDBERG < C
GLEN P. GARRISON S
LAURA R. GERBER
GARY A. GOTTO + > C
MARK A. GRIFFIN
AMY N.L. HANSON <
IRENE M. HECHT
SCOTT C. HENDERSON
MICHAEL F. JOHNSON
TOBIAS J. KAMMER
RON KILGARD + > C
BENJAMIN J. LANTZ
HEIDI LANTZ
CARI CAMPEN LAUFENBERG
ELIZABETH A. LELAND
TANA LIN ? ** /
DEREK W. LOESER
DAVID R. MAJOR
JOHN MELLEN ?
ROBERT S. OVER * /
AMY PHILLIPS
LORRAINE LEWIS PHILLIPS
ERIN M. RILEY <
PAUL M. ROSNER
DAVID J. RUSSELL
MARK D. SAMSON + > C
LYNN LINCOLN SARKO / <
FREDERICK W. SCHOEPFLIN
WILLIAM C. SMART
THOMAS A. STERKEN
BRITT L. TINGLUM <
LAURENCE R. WEATHERLY
MARGARET E. WETHERALD -
AMY WILLIAMS-DERRY
MICHAEL WOERNER
BENSON D. WONG

+ ADMITTED IN ARIZONA
# ALSO ADMITTED IN ARIZONA
! ALSO ADMITTED IN CALIFORNIA
P ALSO ADMITTED IN COLORADO
S ALSO ADMITTED IN IDAHO
? ALSO ADMITTED IN ILLINOIS
* ALSO ADMITTED IN MARYLAND
** ALSO ADMITTED MICHIGAN
" ALSO ADMITTED IN NEW YORK
- - ALSO ADMITTED IN OREGON
/ ALSO ADMITTED IN WASHINGTON, D.C.
< ALSO ADMITTED IN WISCONSIN
> NOT ADMITTED IN WASHINGTON
C OF COUNSEL

September 13, 2006

Mr. Jonathan Gottlieb
Securities and Exchange Commission
Division of Corporate Finance, #7 Financial Services
100 F Street NE
Washington, DC 20549

Re: WSB Financial Group, Inc.

Dear Mr. Gottlieb:

We have enclosed, as requested, four sets of copies of the S-1
registration statement filed August 31, 2006, with exhibits.

Please feel free to contact me at (206) 224-7585 (direct) if you have
any questions, and when you can we would appreciate an estimate of when to
expect your and the accounting examiner's comments.

Very truly yours,

Thomas A. Sterken

TAS:sjm
Enclosures

cc w/o encs.: David K. Johnson
Mark D. Freeman
Tom Haynes, D.A. Davidson & Co.
C. J. Voss, Esq.

REPLY TO: 1201 THIRD AVENUE SUITE 3200 SEATTLE, WASHINGTON 98101-3052
TELEPHONE: (206) 623-1900 FAX: (206) 623-3384

WWW.KELLERROHRBACK.COM

AFFILIATED OFFICE: KELLER ROHRBACK PLC 3101 N. CENTRAL AVENUE, SUITE 900
PHOENIX, ARIZONA 85012 (602) 248-0088 FAX (602) 248-2822

November 13, 2006
VIA FACSIMILE

Mr. Jonathan E. Gottlieb
U.S. Securities and Exchange Commission
Division of Corporate Finance, #7 Financial Services
Mail Stop 0408
100 F Street NE
Washington, DC 20549

Re: WSB Financial Group, Inc.; File No. 333-137038

Dear Mr. Gottlieb:

Thanks for getting the latest comment letter dated November 9 to us
late last Thursday before the holiday.

As we mentioned in the voice message left with you earlier today, the
counsel for the underwriter, C.J. Voss and I would like to arrange a conference
call with you to discuss our desired timing and some of the latest comments,
tomorrow afternoon at 1:00 p.m. your time. We should not need more than 20
minutes or so of your time. The principal comments we would like to discuss with
you, are comments 2, 3 and 6 concerning the directed shares program, the first
two bullet points in comment 4, the revenue information requested in comment 10,
and comments 14 and 16. We want to be sure that we fully understand and address
each of your comments. Our objective is to resolve all comments by the end of
this week, so that we are in a position to print the preliminary prospectuses by
early next week.

Thank you for your cooperation.

Very truly yours,

TAS:sjm Thomas A. Sterken
cc: David K. Johnson
C. J. Voss, Esq.

REPLY TO: 1201 THIRD AVENUE SUITE 3200 SEATTLE, WASHINGTON 98101-3052
TELEPHONE: (206) 623-1900 FAX: (206) 623-3384

WWW.KELLERROHRBACK.COM

AFFILIATED OFFICE: KELLER ROHRBACK PLC 3101 N. CENTRAL AVENUE, SUITE 900
PHOENIX, ARIZONA 85012 (602) 248-0088 FAX (602) 248-2822

November 15, 2006
VIA FACSIMILE

Mr. Jonathan E. Gottlieb
U.S. Securities and Exchange Commission
Division of Corporate Finance, #7 Financial Services
Mail Stop 0408
100 F Street NE
Washington, DC 20549

Re: WSB Financial Group, Inc.; File No. 333-137038

Dear Mr. Gottlieb:

Thanks for taking the time to speak with us yesterday about our
response to your November 9 comment letter.

As we discussed, I will follow up with a call to you on Friday morning
at 9:00 a.m. your time. If that time does not work for you, please let me know
what time you prefer that I call.

We appreciate your time and cooperation.

Very truly yours,

TAS:sjm Thomas A. Sterken
cc: David K. Johnson
C. J. Voss, Esq.

REPLY TO: 1201 THIRD AVENUE SUITE 3200 SEATTLE, WASHINGTON 98101-3052
TELEPHONE: (206) 623-1900 FAX: (206) 623-3384

WWW.KELLERROHRBACK.COM

AFFILIATED OFFICE: KELLER ROHRBACK PLC 3101 N. CENTRAL AVENUE, SUITE 900
PHOENIX, ARIZONA 85012 (602) 248-0088 FAX (602) 248-2822

LAW OFFICES OF
KELLER ROHRBACK L.L.P.
- --------------------------------------------------------------------------------
1201 THIRD AVENUE, SUITE 3200
SEATTLE, WA 98101-3052
TELEPHONE: (206) 623-1900
FAX: (206) 623-3384

FAX COVER SHEET

November 17, 2006

TO: COMPANY: TELEPHONE NO.: FAX NO.:
- --------------------------------------------------------------------------------------------------------------------------------

Mr. Jonathan E. Gottlieb U.S. Securities and Exchange (202) 551-3416 (202) 772-9208
Commission, Mail Stop 0408
- --------------------------------------------------------------------------------------------------------------------------------

FROM: Thomas A. Sterken NUMBER OF PAGES: 14 (including this page)

REGARDING: WSB Financial Group Inc. CLIENT/MATTER NO.: 23842-8
- --------------------------------------------------------------------------------------------------------------------------------

COMMENTS:

Jonathan, attached are copies of the Inc. magazine article and
additional copies of the supplemental materials you requested.

With respect to comments 2, 3 and 6 concerning the directed shares
program, and the two bullet points in comment 4 about the company's business, we
would also like to refer you to the recent Tidelands Bancshares and Southern
National Bancorp of Virginia filings. Both companies' registration statements
included directed share programs, with footnote disclosure outlining reduced
commissions versus what is in the table, and involved small banks with high
concentrations in real estate loans operating in limited geographic areas.
Tidelands is a $300 million bank with 88.9% of its loan in real estate mortgage
or construction loans that operates in two counties in South Carolina. Southern
National Bancorp of Virginia operates two branches and three LPOs in two
counties in Virginia, has 88% of its loans in real estate, and describes its
business as "offer[ing] a wide range of commercial banking services. Our lending
focus . . .".

Thank you for your time and consideration.

Very truly yours,

Tom Sterken

CONFIDENTIALITY NOTE: The documents accompanying this facsimile transmission
contain information belonging to Keller Rohrback L.L.P. which is confidential
and/or legally privileged. The information is intended only for the use of the
individual or entity named above. If you are not the intended recipient, you are
hereby notified that any disclosure, copying, distribution or the taking of any
action in reliance on the contents of this telecopied information is strictly
prohibited. If you have received this facsimile in error, please immediately
notify us by telephone to arrange for return of the original documents to us.
Thank you.

LOAN MIX DETAIL 1
(% OF TOTAL LOANS)
-----------------------------------------------------------------------
AG &
COMPANY NAME TICKER CITY STATE C & I COMMERCIAL RE CONSTRUCTION RESIDENTIAL RE CONSUMER OTHER TOTAL RE
- ------------ ------ ---- ----- ----- ------------- ------------ -------------- -------- ----- --------

AmericanWest Bancorporation AWBC Spokane WA 17.5 46.0 13.4 6.7 1.6 15.0 66.0
Banner Corporation BANR Walla Walla WA 16.5 26.2 33.9 16.3 1.7 5.8 76.5
Cascade Bancorp CACB Bend OR 23.5 34.9 29.5 5.7 3.4 3.0 70.2
Cascade Financial Corporation CASB Everett WA 16.3 41.4 26.6 12.4 0.7 2.6 80.4
City Bank CTBK Lynnwood WA 4.8 29.1 62.5 3.4 0.2 0.0 95.0
Columbia Bancorp CBBO The Dalles OR 15.4 30.3 26.1 7.1 2.6 18.8 63.5
Columbia Banking System, Inc. COLB Tacoma WA 29.2 43.7 6.9 8.2 5.0 6.4 58.8
Cowlitz Bancorporation CWLZ Longview WA 28.7 39.5 19.9 10.4 0.9 0.1 69.8
Frontier Financial Corporation FTBK Everett WA 8.6 37.3 43.4 7.6 1.5 2.3 88.3
Glacier Bancorp, Inc. GBCI Kalispell MT 13.4 24.5 24.4 30.2 5.5 2.1 79.1
Heritage Financial Corporation HFWA Olympia WA 13.0 50.0 14.1 12.9 1.0 9.0 77.0
Horizon Financial Corp. HRZB Bellingham WA 14.1 37.9 33.2 12.9 0.5 1.4 84.0
Pacific Continental Corporation PCBK Eugene OR 19.6 49.9 20.2 7.0 2.1 1.3 77.0
PremierWest Bancorp PRWT Medford OR 20.3 40.0 28.2 5.3 2.9 3.4 73.5
Sterling Financial Corporation STSA Spokane WA 16.4 28.2 26.1 22.2 5.0 2.3 76.5
Umpqua Holdings Corporation UMPQ Portland OR 16.4 51.9 20.8 7.1 0.9 2.7 79.9
United Financial Corp. UBMT Great Falls MT 19.3 15.2 23.0 21.2 7.1 13.4 59.4
Washington Banking Company WBCO Oak Harbor WA 8.4 34.3 20.9 16.0 18.1 2.4 71.1
West Coast Bancorp WCBO Lake Oswego OR 18.7 40.2 16.3 14.5 1.5 8.9 71.0

---- ---- ---- ---- --- --- ----
AVERAGE 16.8 36.9 25.7 12.0 3.3 5.3 74.6
MEDIAN 16.4 37.9 24.4 10.4 1.7 2.7 76.5
---- ---- ---- ---- --- --- ----

WSB Financial Group Bremerton WA 5.3 21.2 53.9 18.5 1.0 0.0 93.6

- -------------
1 Data is as of 6/30/2006 for publicly traded peers and 9/30/06 for WSB
Financial Group

<Table>
<Caption>
Total Total
Institution Date Assets Assets Total
Company Name Key Established State ($000) ($000) CAGR Growth
2001Y 6/30/2006

WESTSOUND BANK 1991072 03/17/1999 WA 32,458 301,107 64.1% 827.7%

North County Bank 4050689 04/01/1999 WA 32,867 170,059 44.1% 417.4%
Umpqua Bank 1005874 10/19/1953 OR 1,436,493 7,159,630 42.9% 398.4%
Columbia Community Bank 4050717 04/12/1999 OR 49,365 222,116 39.7% 349.9%
Bank of the Cascades 1004374 02/01/1977 OR 487,961 2,146,115 39.0% 339.8%
Syringa Bank 1030050 02/24/1997 ID 45,750 178,434 35.3% 290.0%
Panhandle State Bank 1007266 05/18/1981 ID 236,827 781,489 30.4% 230.0%
Town Center Bank 1136031 07/21/1997 OR 37,984 125,234 30.4% 229.7%
Pierce Commercial Bank 1974008 12/08/1997 WA 67,232 213,038 29.2% 216.9%
Bank of Clark County 1991059 02/16/1999 WA 92,927 289,872 28.8% 211.9%
Summit Bank 1005665 01/01/1914 WA 18,956 57,874 28.2% 205.3%
Shoreline Bank 4051720 09/15/1999 WA 29,933 90,197 27.8% 201.3%
Prime Pacific Bank NA 1024635 05/22/1995 WA 34,986 98,479 25.9% 181.5%
Pacific Continental Bank 1012493 08/15/1972 OR 309,346 832,844 24.6% 169.2%
ShoreBank Pacific 1023940 05/07/1993 WA 42,242 113,026 24.4% 167.6%
Home Valley Bank 1004419 08/15/1980 OR 68,530 182,820 24.4% 166.8%
Sterling Savings Bank 4103615 01/01/1981 WA 3,038,538 8,041,997 24.1% 164.7%
Viking Community Bank 1023665 07/01/1992 WA 150,918 396,534 23.9% 162.7%
Coastal Community Bank 1032536 04/01/1997 WA 59,894 153,405 23.2% 156.1%
Community First Bank 1014397 12/05/1980 OR 65,716 167,365 23.1% 154.7%
Venture Bank 1009576 05/24/1979 WA 364,581 915,778 22.7% 151.2%
Mountain West Bank 4050900 10/05/1993 ID 343,757 862,345 22.7% 150.9%
NCW Community Bank 4051727 11/01/1999 WA 33,211 82,375 22.4% 148.0%
Citizens Community Bank 1032559 06/18/1997 ID 67,537 163,793 21.8% 142.5%
Bank of Eastern Oregon 1004342 03/03/1945 OR 76,448 182,921 21.4% 139.3%
D. L. Evans Bank 1010689 08/29/1904 ID 264,104 611,761 20.5% 131.6%
Westside Community Bank 1024559 03/29/1995 WA 49,199 110,959 19.8% 125.5%
Bank of Washington 1025158 07/29/1996 WA 67,346 146,877 18.9% 118.1%
Idaho Banking Company 1026247 10/07/1996 ID 100,442 216,406 18.6% 115.5%
F & M Bank 1010111 11/28/1906 WA 238,679 514,202 18.6% 115.4%
Bank of the Pacific 1007881 12/26/1979 WA 243,617 517,270 18.2% 112.3%
Bank of Salem 1023204 02/19/1991 OR 90,323 191,591 18.2% 112.1%
MBank 1024932 12/01/1995 OR 124,620 264,148 18.2% 112.0%
AmericanWest Bank 1004644 04/01/1977 WA 659,310 1,375,704 17.8% 108.7%
Bank of Whitman 1005651 09/29/1977 WA 227,209 472,755 17.7% 108.1%
Albina Community Bank 1024754 12/19/1995 OR 59,523 122,124 17.3% 105.2%

Idaho Independent Bank 1024051 10/11/1993 ID 276,973 559,436 16.9% 102.0%
PremierWest Bank 1022778 06/18/1990 OR 487,061 983,709 16.9% 102.0%
Columbia River Bank 1011873 06/06/1977 OR 482,747 953,769 16.3% 97.6%
Charter Bank 1981019 01/26/1998 WA 137,929 266,810 15.8% 93.4%
People's Bank of Commerce 1981011 03/02/1998 OR 45,068 85,009 15.1% 88.6%
South Valley Bank & Trust 1015144 01/12/1977 OR 280,406 524,070 14.9% 86.9%
State National Bank of Garfield 1009910 01/01/1902 WA 40,409 74,607 14.6% 84.6%
Peoples Bank 1009617 01/07/1921 WA 417,919 771,588 14.6% 84.6%
EvergreenBank 100714 10/01/1971 WA 156,365 286,047 14.4% 82.9%
Oregon Pacific Banking Company 1006055 12/17/1979 OR 86,587 155,228 13.9% 79.3%
LibertyBank 4087975 01/01/1978 OR 449,221 804,119 13.8% 79.0%
Whidbey Island Bank 1004951 07/03/1961 WA 436,899 766,466 13.3% 75.4%
Mt. Rainier National Bank 1022788 07/02/1990 WA 125,820 216,872 12.9% 72.4%
Cashmere Valley Bank 1011031 09/24/1932 WA 439,174 747,758 12.6% 70.3%
Cascade Bank 4073148 01/01/1916 WA 761,941 1,294,017 12.5% 69.8%
Frontier Bank 1005951 09/11/1978 WA 1,791,322 3,022,363 12.3% 68.7%
Bank of Astoria 1005809 12/23/1968 OR 128,414 214,408 12.1% 67.0%
Washington Trust Bank 1004900 11/03/1902 WA 1,898,389 3,168,437 12.1% 66.9%
Community Bank 1013602 06/01/1955 OR 191,428 316,789 11.8% 65.5%
Banner Bank 1008404 1/1/1890 WA 2,081,147 3,391,106 11.5% 62.9%
CityBank 1009626 04/15/1974 WA 590,895 944,028 11.0% 59.8%
West Coast Bank 1011258 01/01/1925 OR 1,434,315 2,291,104 11.0% 59.7%
Horizon Bank 1010277 05/01/1978 WA 745,838 1,190,766 11.0% 59.7%
Fife Commercial Bank 1983022 07/15/1998 WA 52,168 81,802 10.5% 56.8%
Bank of Idaho 1007805 09/25/1985 ID 136,609 212,822 10.4% 55.8%
Columbia State Bank 1024010 08/16/1993 WA 1,489,381 2,319,054 10.3% 55.7%
Kitsap Bank 1011148 08/08/1908 WA 451,972 685,204 9.7% 51.6%
Commerce Bank of Washington, NA 1020935 07/01/1988 WA 529,396 790,391 9.3% 49.3%
Bank of Commerce 1008080 08/01/1959 ID 432,071 637,845 9.0% 47.6%
Security State Bank 1005520 12/26/1903 WA 234,676 344,333 8.9% 46.7%
American Marine Bank 1012462 09/17/1948 WA 250,010 366,590 8.9% 46.6%
Central Valley Bank, NA 1004624 11/01/1962 WA 81,290 118,802 8.8% 46.1%
Valley Bank 1010101 10/01/1973 WA 140,282 202,586 8.5% 44.4%
Yakima National Bank, NA 1136022 08/04/1997 WA 36,324 51,851 8.2% 42.7%
Siuslaw Bank 1014470 01/17/1964 OR 204,274 291,339 8.2% 42.6%
Wheatland Bank 1005720 09/04/1979 WA 111,795 156,704 7.8% 40.2%
Bank of Fairfield 1005373 01/01/1908 WA 90,925 125,089 7.3% 37.6%
Washington First International Bank 1022767 05/15/1990 WA 385,011 526,404 7.2% 36.7%
Inland Northwest Bank 1022493 10/02/1989 WA 192,850 263,028 7.1% 36.4%
First Independent Bank 1002476 02/21/1910 WA 643,678 865,923 6.8% 34.5%

First Heritage Bank 1004412 01/08/1982 WA 102,305 137,572 6.8% 34.5%
Heritage Bank 1014878 01/01/1927 WA 528,082 709,405 6.8% 34.3%
Skagit State Bank 1006885 06/16/1958 WA 402,021 510,956 5.5% 27.1%
Twin River National Bank 1009308 11/15/1979 WA 44,187 55,567 5.2% 25.8%
Farmers National Bank of Buhl 1007873 05/11/1917 ID 262,720 329,692 5.2% 25.5%
Lamont Bank of St. John 1010393 01/01/1908 WA 19,671 24,271 4.8% 23.4%
Mid State Bank 1015482 10/30/1978 WA 36,904 45,492 4.8% 23.3%
Islanders Bank 1009524 07/07/1981 WA 129,609 157,921 4.5% 21.8%
Farmers State Bank 1012509 01/01/1916 WA 13,243 15,987 4.3% 20.7%
Citizens Bank 1005352 10/05/1957 OR 278,507 334,879 4.2% 20.2%
Ireland Bank 1009312 1/1/1892 ID 146,955 173,302 3.7% 17.9%
Farmington State Bank 1009883 05/10/1929 WA 6,070 7,028 3.3% 15.8%
Cowlitz Bank 1010725 05/01/1978 WA 369,471 423,137 3.1% 14.5%
North Cascades National Bank 1005610 12/01/1986 WA 204,942 221,024 1.7% 7.8%
Clackamas County Bank 1011840 01/31/1911 OR 149,055 160,029 1.6% 7.4%
Baker-Boyer National Bank 1005023 11/10/1869 WA 398,932 372,274 -1.5% -6.7%
Community First Bank 1974046 12/30/1997 WA 76,505 70,046 -1.9% -8.4%
Sound Banking Company 1023004 11/01/1990 WA 60,078 54,813 -2.0% -8.8%
Pioneer Trust Bank, NA 1014510 01/01/1924 OR 249,445 223,882 -2.4% -10.2%

------- ------- ----- -----
AVERAGE 334,490 669,139 14.9% 98.4%
MEDIAN 150,918 266,810 13.1% 73.9%
------- ------- ----- -----
</Table>

WSB GROWTH SUMMARY

2001 TO 9/30/06 2003 TO 2005
2001 2002 2003 2004 2005 9/30/2006 CAGR CAGR
------ ------ ------ ------- ------- --------- --------------- ------------

Assets 32,453 52,760 75,999 137,381 249,943 338,080 63.8% 81.3%
% growth 62.6% 44.0% 80.8% 81.9% 35.3%

Loans 25,254 39,764 58,209 117,588 207,117 306,056 69.1% 88.6%
% growth 57.5% 46.4% 102.0% 76.1% 47.8%

Deposits 28,112 48,017 68,003 123,593 224,167 308,066 65.5% 81.6%
% growth 70.8% 41.6% 81.7% 81.4% 37.4%

LTM Net Income 15 286 631 1,340 2,412 3,537 NM 95.5%
% growth NM 120.6% 112.4% 80.0% 46.6%

COMPANY ACKNOWLEDGEMENT

The registrant, WSB Financial Group, Inc. ("Company"), hereby acknowledges
to the U.S. Securities and Exchange Commission ("Commission"), with respect to
the Company's Registration Statement on Form S-1, File No. 333-137038, filed
August 31, 2006, and amendments thereto, as follows:

1. The Company is responsible for the adequacy and accuracy of the
disclosure in the filing;

2. Staff comments or changes to disclosure in response to staff comments do
not foreclose the Commission from taking any action with respect to the filing;
and

3. The Company may not assert staff comments as a defense in any proceeding
initiated by the Commission or any person under the federal securities laws of
the United States.

DATED this 14th day of November, 2006.

WSB FINANCIAL GROUP, INC.

By: /s/ David K. Johnson
------------------------------------
David K. Johnson
President and Chief Executive
Officer

LAW OFFICES OF
KELLER ROHRBACK L.L.P.
- --------------------------------------------------------------------------------
LAURIE B. ASHTON + P > C
IAN S. BIRK
STEPHEN R. BOATWRIGHT + > C
KAREN E. BOXX C
JOHN H. BRIGHT
GRETCHEN FREEMAN CAPPIO
JASON P. CHUKAS
T. DAVID COPLEY #
ALICIA M. CORBETT + > C
CLAIRE CORDON
SHANE P. CRAMER # C
ROB J. CRICHTON -
CHLOETHIEL W. DEWEESE
MAUREEN M. FALECKI !
JULI FARRIS ! /
RAYMOND J. FARROW
DANIEL S. FRIEDBERG < C
GLEN P. GARRISON S
LAURA R. GERBER
GARY A. GOTTO + > C
MARK A. GRIFFIN
AMY N.L. HANSON <
IRENE M. HECHT
SCOTT C. HENDERSON
TOBIAS J. KAMMER
RON KILGARD + > C
BENJAMIN J. LANTZ
HEIDI LANTZ
CARI CAMPEN LAUFENBERG
ELIZABETH A. LELAND
TANA LIN ? ** /
DEREK W. LOESER
DAVID R. MAJOR
JOHN MELLEN ?
ROBERT S. OVER * /
AMY PHILLIPS
LORRAINE LEWIS PHILLIPS
ERIN M. RILEY <
PAUL M. ROSNER
DAVID J. RUSSELL
MARK D. SAMSON + > C
LYNN LINCOLN SARKO / <
FREDERICK W. SCHOEPFLIN
WILLIAM C. SMART
THOMAS A. STERKEN
BRITT L. TINGLUM <
LAURENCE R. WEATHERLY
MARGARET E. WETHERALD -
AMY WILLIAMS-DERRY
MICHAEL WOERNER
BENSON D. WONG

November 22, 2006

Mr. Todd K. Schiffman
U.S. Securities and Exchange Commission
Division of Corporate Finance, #7 Financial Services
100 F Street NE
Washington, DC 20549

Re: WSB Financial Group, Inc. (the "Company")
Amendment No. 3 to Registration Statement on Form S-1
File No. 333-137038

Dear Mr. Schiffman:

We have received your letter, dated November 22, 2006, with respect to
the above-referenced filing. We would like to discuss with you the following
comments raised in the letter:

o Comment 2, first bullet point -- We would like to discuss the
information that we provided to you in response to comment 4
(first bullet point) of your letter to the Company, dated November
9, 2006. Specifically, we are concerned that the staff is
requesting that the Company describe itself in a manner that does
not accurately reflect the Company's business and that
inappropriately distinguishes the Company's services offerings
from those of a number of similarly situated, publicly-traded peer
banks.

o Comment 2, second bullet point -- We would like to understand
why the staff believes it is relevant to add the disclosure
proposed in the second bullet point, given that the Company
expressly states that its status as the "fastest growing bank
in the Pacific Northwest" is based on "percentage annual
growth rates of assets." We note in this

REPLY TO: 1201 THIRD AVENUE SUITE 3200 SEATTLE, WASHINGTON 98101-3052
TELEPHONE: (206) 623-1900 FAX: (206) 623-3384

WWW.KELLERROHRBACK.COM

AFFILIATED OFFICE: KELLER ROHRBACK PLC 3101 N. CENTRAL AVENUE, SUITE 1400
PHOENIX, ARIZONA 85012 (602) 248-0088 FAX (602) 248-2822

Mr. Todd K. Schiffman KELLER ROHRBACK L.L.P.
November 22, 2006
Page 2

regard that, in its November 9 letter, the staff specifically
requested in comment 4 (fourth bullet point) that the Company
"clarify" its "fastest growing bank" statement by disclosing
that "it is based on the percentage of growth not real dollar
growth." The Company does not state or suggest anywhere in the
registration statement that it is a large financial
institution or that its share of the relevant market, measured
by any absolute measure, is significant. Measuring growth by
dollars rather than percentage, would simply focus on the
largest institutions and we respectfully submit, is not
germane.

o Comment 3, first bullet point and Comment 6 -- We would like to
understand why the staff believes it is relevant or material to
add the disclosure proposed in these comments.

o Comment 8 -- Counsel to the underwriters has asked for further
clarification on this comment, including references to recent
filings in connection with underwritten initial public offerings
in which the requested disclosure was made. We understand from
counsel to the underwriters that the disclosure provided in the
underwriting section is identical to the disclosure contained in
past public offerings underwritten by D.A. Davidson & Co., and
that counsel has been unable to identify any precedents from
recently filed registration statements for initial public
offerings that contain the requested disclosure.

In addition to discussing the foregoing issues, the Company and the
underwriters have requested that we express our grave concern about the review
and comment process for this filing. The staff has raised many new comments
after the Company has filed each of the first three amendments to the original
filing. In this most recent letter, for example, comments 3 (first and third
bullet points), 5 (second bullet point), 6, and 7 (second bullet point) are all
new comments, although the disclosure to which has been consistent through the
original S-1 filing and each of the three amendments. This is very frustrating
to the Company, and has caused the Company to incur significant additional fees
and costs associated with working through new staff comments sequentially over
multiple comment letters, rather than being able to address all comments in one
or two review-and-comment cycles. The Company anticipates seeking effectiveness
for this registration statement on or about December 11, 2006, and has requested
that we underscore the challenge presented when the staff raises new,
unanticipated comments after each filing by the Company.

Mr. Todd K. Schiffman KELLER ROHRBACK L.L.P.
November 22, 2006
Page 3

Counsel for the underwriters and I will telephone you on Friday at
11:00 a.m. Eastern Time to discuss our concerns. If this time is not convenient
for you, please leave a message for me at (206) 224-7585 with a preferred time.
Thank you in advance for your consideration.

Very truly yours,

Thomas A. Sterken

TAS:sjm
cc: David K. Johnson
C.J. Voss, Esq.

LAW OFFICES OF
KELLER ROHRBACK L.L.P.
- --------------------------------------------------------------------------------
LAURIE B. ASHTON + P > C
IAN S. BIRK
STEPHEN R. BOATWRIGHT + > C
KAREN E. BOXX C
JOHN H. BRIGHT
GRETCHEN FREEMAN CAPPIO
JASON P. CHUKAS
T. DAVID COPLEY #
ALICIA M. CORBETT + > C
CLAIRE CORDON
SHANE P. CRAMER # C
ROB J. CRICHTON -
CHLOETHIEL W. DEWEESE
MAUREEN M. FALECKI !
JULI FARRIS ! /
RAYMOND J. FARROW
DANIEL S. FRIEDBERG < C
GLEN P. GARRISON S
LAURA R. GERBER
GARY A. GOTTO + > C
MARK A. GRIFFIN
AMY N.L. HANSON <
IRENE M. HECHT
SCOTT C. HENDERSON
TOBIAS J. KAMMER
RON KILGARD + > C
BENJAMIN J. LANTZ
HEIDI LANTZ
CARI CAMPEN LAUFENBERG
ELIZABETH A. LELAND
TANA LIN ? ** /
DEREK W. LOESER
DAVID R. MAJOR
JOHN MELLEN ?
ROBERT S. OVER * /
AMY PHILLIPS
LORRAINE LEWIS PHILLIPS
ERIN M. RILEY <
PAUL M. ROSNER
DAVID J. RUSSELL
MARK D. SAMSON + > C
LYNN LINCOLN SARKO / <
FREDERICK W. SCHOEPFLIN
WILLIAM C. SMART
THOMAS A. STERKEN
BRITT L. TINGLUM <
LAURENCE R. WEATHERLY
MARGARET E. WETHERALD -
AMY WILLIAMS-DERRY
MICHAEL WOERNER
BENSON D. WONG

November 30, 2006

VIA FAX & U.S. MAIL

Mr. Todd K. Schiffman
U.S. Securities and Exchange Commission
Division of Corporate Finance, #7 Financial Services
100 F Street NE
Washington, DC 20549

Re: WSB Financial Group, Inc.
Amendment No. 4 to Registration Statement on Form S-1
File No. 333-137038

Dear Mr. Schiffman:

Based on our telephone conversation yesterday afternoon, we would like
to supplement our letter of November 27, 2006 responding to the staff's
comments, as follows:

Comment 2, first bullet point -- Business:

We revised our description of the company's business activities in
pages 21 and 56 of the Amendment, as focused "primarily on real estate lending
products and supplemented by commercial banking products and services".

REPLY TO: 1201 THIRD AVENUE SUITE 3200 SEATTLE, WASHINGTON 98101-3052
TELEPHONE: (206) 623-1900 FAX: (206) 623-3384

WWW.KELLERROHRBACK.COM

AFFILIATED OFFICE: KELLER ROHRBACK PLC 3101 N. CENTRAL AVENUE, SUITE 1400
PHOENIX, ARIZONA 85012 (602) 248-0088 FAX (602) 248-2822

Mr. Todd K. Schiffman KELLER ROHRBACK L.L.P.
November 30, 2006
Page 2

As disclosed in page 21 and in the table on page 41 of the Amendment,
the company's levels of real estate lending activities expressed in terms of
total gross loans booked, loan originations and revenues as of September 30,
2006 were as follows:

Loans Originations Revenues
------- -------------- ----------
All Real Estate Lending 93.6% 97.8% 88.0%
o Construction & Development 57.6% 39.5% --
o Commercial Real Estate 22.6% 12.4% --
o Residential Real Estate (i.e., consumer mortgage -- lending) 19.8% 45.9% 37.9%
</Table>

Therefore, while as the staff noted in comment 5 (addressed in our
November 27 letter), the company's loan portfolio figures do not reflect the
residential mortgage loans originated and sold by the company, we respectfully
submit that characterizing the company as "a primarily mortgage-lending focused
financial institution" as now requested by the staff, is inaccurate whether
measured by loans, originations or revenues, and would be misleading to
investors. We also note that in conducting a CRA Performance Evaluation of a
bank, as stated in the report under "General Information", the purpose of the
FDIC is to assess the bank's "record of meeting the credit needs of [its
community], including low- and moderate-income neighborhoods". Accordingly, this
report focuses on the bank's consumer lending activities, including its
residential mortgage lending, and analyzes the distribution of the bank's
consumer mortgage loans (referred to as "HMDA loans", because they are subject
to the consumer mortgage lending information reporting law commonly known as the
Home Mortgage Disclosure Act), among different income levels within each county.
Unlike the company's S-1 registration statement, the FDIC report is not intended
to provide an accurate description of the bank's overall lending activities, let
alone its deposit activities and other banking products and services.

We also refer you to our response to comment 4 by the staff in our
letter of November 14, 2006, which included industry data and information from
other recent company filings demonstrating that many other banks in the Pacific
Northwest have high concentrations in real estate loans, yet all describe their
banking business generally, based on the range of loans and deposits that they
offer their business customers and consumers.

Comment 8 -- Underwriting:

We revised the disclosure on page 94 of the Amendment to clarify that
after the completion of the offering, the underwriter, D.A. Davidson may change
the offering price and the concessions and allowances to brokers and dealers.
Upon execution of the underwriting agreement, the underwriter will be obligated
to purchase the shares at the prices and upon the terms stated therein, and, as
a result, will thereafter bear any risk associated with changing the offering
price to the public or other selling terms in order to liquidate its position.
No variation in those terms will change the amount of proceeds to be received by
the company as set forth on the

Mr. Todd K. Schiffman KELLER ROHRBACK L.L.P.
November 30, 2006
Page 3

cover page of the prospectus. Therefore, we respectfully submit that the
language we have added appropriately addresses the staff's concerns and that the
additional disclosures requested in the second and third bullet points are not
necessary.

Please call the undersigned at (206) 224-7585 (direct) with any
questions.

Very truly yours,

Thomas A. Sterken

TAS:sjm
cc: Jonathan E. Gottlieb
David K. Johnson
C.J. Voss