Washington Tr Bancorp Inc Stock Price, News & Analysis

Washington Trust Wealth Management (NASDAQ:WASH) has announced three strategic appointments to strengthen its team and enhance client services. The firm has appointed J. Carson Coyle as Director of Client Experience, Brian Davies as Senior Wealth Advisor, and James C. Maynard as Senior Private Client Advisor.

As a division of The Washington Trust Company, which is celebrating its 225th anniversary, Washington Trust Wealth Management manages $6.8 billion in assets under administration. The firm, which began offering trust services in 1904, focuses on providing customized financial planning, investment management, and full fiduciary services to individuals, families, foundations, endowments, municipalities, and businesses.

Washington Trust (NASDAQ:WASH) has been named Rhode Island's Best-In-State Bank by Forbes for the seventh consecutive year in 2025, marking their third straight year at #1. The recognition comes from Forbes' annual evaluation conducted with Statista, based on surveys of over 26,000 U.S. consumers.

The assessment criteria included customer satisfaction, trust, fees, digital services, and financial advice. Chairman and CEO Edward O. "Ned" Handy III highlighted the bank's 225-year history of delivering exceptional banking experiences through a combination of innovative technology and personalized service.

Washington Trust (WASH) has been named one of Rhode Island's Best Places to Work by Providence Business News for the 15th consecutive year in 2025. The recognition, celebrated at the Crowne Plaza in Warwick, RI, highlights the bank's commitment to employee well-being and workplace culture. Chairman & CEO Edward O. "Ned" Handy III emphasized their dedication to investing in people, fostering open communication, and creating growth opportunities. The bank offers comprehensive benefits including health and wellness programs, 401(k), flexible work arrangements, and various employee engagement initiatives. The Best Places to Work Awards evaluation process involves reviewing company policies, practices, demographics, and confidential employee surveys assessing workplace satisfaction.

Washington Trust Bancorp (NASDAQ: WASH) has announced its quarterly dividend declaration of $0.56 per share for Q2 2025. The dividend is scheduled to be paid on July 11, 2025, to shareholders who are recorded as owners of the stock as of July 1, 2025. This regular dividend announcement demonstrates the company's commitment to providing consistent returns to its shareholders through dividend payments.

Washington Trust (WASH), the nation's oldest community bank, is celebrating its 225th anniversary in 2025. The bank has announced several initiatives to mark this milestone, including a special birthday logo and a "225 Community Checking" campaign running through August 2025. New checking account customers can trigger a $25 donation to one of 12 selected nonprofit organizations and receive a $200 bonus for themselves.

Founded on August 22, 1800, in Westerly, RI, Washington Trust has grown to 28 retail banking branches across Rhode Island and Mystic, Connecticut, with additional mortgage lending and wealth management offices in Rhode Island, Massachusetts, and Connecticut. The celebration will culminate with bank executives ringing the NASDAQ closing bell on August 22nd, 2025.

Washington Trust (WASH) has strengthened its retail banking business development team with the appointment of three experienced Business Banking Relationship Officers. The new team members - Marcus Charlemagne, Armen Janigian, and Peter Renden - will collaborate with the bank's retail branch network to provide tailored financial solutions to local businesses.

Marcus Charlemagne, a Washington Trust veteran since 2015, previously served as VP and Branch Manager. Armen Janigian brings over 40 years of banking industry experience, joining the bank in 2023. Peter Renden contributes more than 15 years of local and regional banking expertise, specializing in cash management systems and consumer lending.

Washington Trust (WASH) has launched a new Home Equity Line of Credit (HELOC) product with an attractive introductory offer. The HELOC features a fixed 5.99% Annual Percentage Rate (APR) for the first 18 months. Available for new lines up to $400,000, this product targets homeowners seeking funds for home improvements and debt consolidation. The HELOC offers flexibility to borrow, repay, and reborrow during the line's lifetime. After the promotional period, rates will vary based on Wall Street Journal Prime Rate (-0.125% to +0.25%). The offer is available in Connecticut, Massachusetts, New Hampshire, and Rhode Island for owner-occupied primary residences or second homes, requiring a minimum initial draw of $10,000.

Washington Trust announces free Community Shred Days across Rhode Island locations in June 2025, demonstrating its commitment to identity protection and environmental sustainability.

The events will be held on two Saturdays:

• June 7th (10am-noon): Locations in North Kingstown, Westerly, and Coventry
• June 14th (10am-noon): Locations in Barrington and Smithfield

Community members can bring up to two boxes of sensitive documents, including paper materials, DVDs, CDs, cassette tapes, and floppy discs. No need to remove staples, rubber bands, folders, or paper clips. While the service is free, the bank is partnering with Amenity Aid to collect hygiene product donations, supporting their mission to combat hygiene poverty in Rhode Island.

This initiative aligns with Washington Trust's broader strategy to promote data security, identity protection, and environmental responsibility in the communities they serve.

Washington Trust Bancorp (NASDAQ: WASH) reported Q1 2025 net income of $12.2 million, or $0.63 per diluted share. The quarter included a $7.0 million pre-tax gain from sale-leaseback transactions of five branch locations and a $6.4 million pre-tax pension plan settlement charge.

Key Q1 2025 metrics include:

• Net interest margin improved to 2.29%, up 34 basis points from Q4 2024
• Total loans decreased 1% to $5.1 billion
• In-market deposits grew 4% to $5.0 billion
• Wealth management revenues declined 2% with assets under administration at $6.8 billion
• Mortgage banking revenues decreased 19%

Asset quality metrics showed nonaccrual loans at 0.42% of total loans, with the allowance for credit losses at 0.81%. The Board declared a quarterly dividend of $0.56 per share.