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Washington Trust Bancorp
built 254 days ago
Washington Trust Bancorp is the holding company for Washington Trust, which operates banking offices in Rhode Island and southeastern Connecticut. The bank provides savings, checking, money market, and individual retirement accounts, as well as certificates of deposit. Washington Trust ... originates commercial and residential real estate, business, and consumer loans.
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Washington Trust Bancorp is a bank holding and financial holding company. It operates through its its subsidiaries and is engaged in offering personal and business financial services, including trust and investment management. The company primarily operates in the US. It is headquartered in Westerly, Rhode Island, and employs about 420 people.
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Without seeming naive, Washington Trust Bancorp can utter "Washington" and "trust" in the same breath. The firm owns The Washington Trust Company, one of Rhode Island's oldest banks. The bank operates more than 15 branches in the southern part of the state, as well as in southeastern Connecticut. The bank offers commercial loans and mortgages (some 40% of the loan portfolio) and residential mortgages (... about 40%), as well as consumer and other loans. Its deposit products include checking, money market, and savings accounts; CDs; and IRAs. The bank also provides trust and investment management services.
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Washington Trust Bancorp's net income for the fourth quarter fell to $5.8 million or $0.43 per share from $6.2 million or $0.45 per share in the same quarter of the previous year. Two analysts polled by First Call/Thomson Financial projected earnings of $0.48 per share.
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Washington Trust Bancorp, Inc. (the “Bancorp”), a publicly-owned registered bank holding company and financial holding company, was organized in 1984 under the laws of the state of Rhode Island. The Bancorp owns all of the outstanding common stock of The Washington Trust Company (the “Bank”), a Rhode Island-chartered commercial bank. The Bancorp was formed in 1984 under a plan of reorganization in which outstanding common shares of the Bank were exchanged for common shares of the Bancorp. See additional information under the caption “Subsidiaries”. Through its subsidiaries, the Bancorp offers a broad range of financial services to individuals and businesses, including wealth management, through its offices in Rhode Island, Massachusetts and southeastern Connecticut, ATMs, and its Internet website (www.washtrust.com). The Bancorp’s common stock is traded on the NASDAQ Global MarketÒ under the symbol “WASH....
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Washington Trust offers a variety of commercial and retail lending products. In addition, Washington Trust purchases loans for its portfolio from various other financial institutions. In making commercial loans, Washington Trust may occasionally solicit the participation of other banks and may ... occasionally participate in commercial loans originated by other banks. From time to time, the Bancorp sells the guaranteed portion of Small Business Administration (SBA) loans to investors. Washington Trust generally underwrites its residential mortgages based upon secondary market standards. Residential mortgages are originated for both sale in the secondary market, as well as for retention in the Bancorp's loan portfolio.
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Washington Trust Bancorp