Washington Trust Bancorp, Inc. operates as the bank holding company for The Washington Trust Company that offers various banking and financial products and services to individuals and businesses. The company operates in two segments, Commercial Banking and Wealth Management Services. The Commercial Banking segment offers deposit accounts, including interest-bearing checking, noninterest-bearing checking, savings, money market, and retirement deposit accounts; and certificates of deposit, as well as debit cards, ATMs, telephone banking, Internet banking, mobile banking, remote deposit capture, cash management, and merchant credit card services. This segment also provides various commercial and retail lending products, which include commercial real estate loans consisting of commercial mortgages, and construction and development loans; commercial and industrial loans; residential real estate loans; and consumer loans comprising home equity lines and loans, personal installment loans, and loans to individuals secured by general aviation aircraft. The Wealth Management Services segment provides investment management; financial planning; personal trust and estate services, including services as trustee, personal representative, custodian, and guardian; and settlement of decedents' estates, as well as institutional trust services, such as custody and fiduciary services. This segment serves personal and institutional clients, and mutual funds. The company also operates as a licensed broker-dealer that markets investment programs, including mutual funds and variable annuities. As of December 31, 2015, it had 10 branch offices located in southern Rhode Island; 9 branch offices located in the greater Providence area in Rhode Island; and 1 branch office located in southeastern Connecticut. The company was founded in 1800 and is headquartered in Westerly, Rhode Island.
Washington Trust posts 3Q profit WESTERLY, R.I. (AP) _ Washington Trust Bancorp Inc. (WASH) on Monday reported third-quarter profit of $12.3 million. The Westerly, Rhode Island-based bank said it had earnings of 72 cents per share. The holding company for The Washington Trust Co. posted revenue of $44.6 million in the period. Washington Trust shares have climbed 7 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $42.30, an increase of roughly 7 percent in the last 12 months.
