WESTERLY, R.I., Dec. 20, 2024 /PRNewswire/ -- Washington Trust Bancorp, Inc. (Nasdaq: WASH) (the "Corporation"), parent company of The Washington Trust Company, of Westerly (the "Bank"), today announced Bank balance sheet repositioning transactions to support continued organic growth and capital generation.

"Like many banks, we have been carrying low-yielding assets on our balance sheet following rapid increases in interest rates over the past few years.  These assets have been earning interest below current market rates, which has impacted our earnings and ability to reinvest and expand our business.  We had the opportunity to raise approximately $70 million in capital to support the sale of these low-yielding assets and reinvestment of the proceeds into assets with higher rates," stated Edward "Ned" O. Handy III, Washington Trust Chairman and CEO.  "This will allow us to focus on growth and investment which is good for shareholders, employees, customers and the communities we serve.  This has also made us even stronger financially and will set us up for improved profitability in 2025 and beyond."

WESTERLY, R.I., Dec. 19, 2024 /PRNewswire/ -- The Board of Directors of Washington Trust Bancorp, Inc., (NASDAQ: WASH), today declared a quarterly dividend of 56 cents per share for the quarter ending December 31, 2024. The dividend will be paid January 15, 2025 to shareholders of record on January 2, 2025.

ABOUT WASHINGTON TRUST BANCORP, INC.Washington Trust Bancorp, Inc. ("the Corporation), NASDAQ: WASH, is the publicly-owned holding company of The Washington Trust Company ("Washington Trust", "the Bank"), with $7.1 billion in assets as of September 30, 2024. Founded in 1800, Washington Trust is recognized as the oldest community bank in the nation, the largest state-chartered bank headquartered in Rhode Island and one of the Northeast's premier financial services companies. Washington Trust values its role as a community bank and is committed to helping the people, businesses, and organizations of New England improve their financial lives. The Bank offers a wide range of commercial banking, mortgage banking, personal banking and wealth management services through its offices in Rhode Island, Connecticut and Massachusetts and a full suite of convenient digital tools. Washington Trust is a member of the FDIC and an equal housing lender. For more information, visit the Corporation's website at ir.washtrust.com, or the Bank's website at www.washtrust.com.

PROVIDENCE, R.I., Dec. 17, 2024 /PRNewswire/ -- Washington Trust recently provided $800,000 in financing to the Rhode Island Hispanic Chamber of Commerce for the purchase of property located at 359 Broad Street in Providence, R.I., to be used as the Chamber's new headquarters.

The property, known as the James Potter House, an elaborate Queen Anne Mansion built c. 1889 and designed by Stone, Carpenter and Willson, is located in the Trinity Square National Historic District in the Elmwood section of Providence.

WESTERLY, R.I., Dec. 16, 2024 /PRNewswire/ -- Washington Trust Bancorp, Inc. (Nasdaq: WASH) (the "Corporation"), parent company of The Washington Trust Company, of Westerly (the "Bank"), today announced the closing of its previously announced underwritten public offering of 1,911,764 shares of its common stock at a public offering price of $34.00 per share. The 2,198,528 shares sold in the offering include 286,764 shares sold pursuant to the exercise of the underwriters' purchase option. BofA Securities is serving as the sole book-running manager for the offering.

WESTERLY, R.I., Dec. 12, 2024 /PRNewswire/ -- Washington Trust Bancorp, Inc. (Nasdaq: WASH) (the "Corporation"), parent company of The Washington Trust Company, of Westerly (the "Bank"), today announced the pricing of its previously announced underwritten public offering of 1,911,764 shares of its common stock at a public offering price of $34.00 per share.  The expected proceeds to the Corporation, after deducting underwriting discounts and commissions but before deducting operating expenses payable by the Corporation, are approximately $61.75 million.  In addition, the Corporation has granted the underwriter a 30-day option to purchase up to an additional 286,764 shares of the Corporation's common stock at the public offering price, less underwriting discounts, and commissions.  The offering is expected to close on December 16, 2024, subject to the satisfaction of customary closing conditions.

WESTERLY, R.I., Dec. 12, 2024 /PRNewswire/ -- Washington Trust Bancorp, Inc. (Nasdaq: WASH) (the "Corporation"), parent company of The Washington Trust Company, of Westerly (the "Bank"), today announced it has commenced an underwritten public offering of $55,000,000 of the Corporation's common stock. The Corporation also expects to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares of its common stock sold in the offering. BofA Securities is serving as the sole book-running manager for the offering.

WESTERLY, R.I., Nov. 14, 2024 /PRNewswire/ -- Washington Trust today announced that Michelle Kile has been appointed Executive Vice President and Chief Retail Banking Officer. Kile is responsible for the retail sales and customer service through Washington Trust's 28 retail branch offices, Customer Solutions Center, and digital banking services.

"Michelle joins us with 20 years of experience in Retail Banking delivery from several New England financial institutions," stated Edward O. "Ned" Handy III, Washington Trust Chairman and Chief Executive Officer. "We're excited to have her lead Washington Trust's Retail teams as they focus on branch transformation, solution-oriented personal service, and digital optimization to help our customers achieve their financial goals."

WESTERLY, R.I., Nov. 4, 2024 /PRNewswire/ -- The Washington Trust Company was recently named the number one Bank in the RI Media Group and Sun Publication's Community Choice Awards Program. Award winners were chosen through a readers' poll of the following Rhode Island newspapers/publications: The Westerly Sun, Mystic River Press, Narragansett Times, East Greenwich Pendulum, Kent County Times and The Independent.

WESTERLY, R.I., Oct. 21, 2024 /PRNewswire/ -- Washington Trust Bancorp, Inc. (Nasdaq: WASH), parent company of The Washington Trust Company, today announced third quarter 2024 net income of $11.0 million, or $0.64 per diluted share, compared to net income of $10.8 million, or $0.63 per diluted share, for the second quarter of 2024.

"Washington Trust's third quarter results remained steady, demonstrating the strength of our diversified business model, and commitment to our customers," stated Edward O. Handy III, Washington Trust Chairman and Chief Executive Officer. "We continue to carefully manage our balance sheet, while focusing on our customers, who rely on us for financial solutions and trusted advice.  During the quarter, we expanded our presence in Providence, opening a new full-service branch in Olneyville."

WESTERLY, R.I., Oct. 8, 2024 /PRNewswire/ -- Washington Trust Bancorp, Inc. (NASDAQ: WASH), the publicly-owned holding company of The Washington Trust Company, will release third quarter 2024 earnings and host a conference call with the Corporation's executives as follows:

Earnings Release: 

Monday, October 21, 2024, After Market Closes

Conference Call: 

Tuesday, October 22, 2024, 8:30 a.m. ET

Participant Dial In:  

1-833-470-1428 (Toll-Free)

International Dial In:

Global Dial-In Numbers

Access Code: 

539756

Webcast:  

Washington Trust Bancorp's website,https://ir.washtrust.com

Teleconference Replay:      

A recording will be available until Tuesday, November 5, 2024

Replay Number US:    

1-866-813-9403 (Toll-Free)

Access Code:              

963764