Welcome to our dedicated page for Washington Tr Bancorp news (Ticker: WASH), a resource for investors and traders seeking the latest updates and insights on Washington Tr Bancorp stock.
Washington Trust Bancorp Inc (NASDAQ: WASH), America's oldest community bank since 1800, provides investors and stakeholders with essential financial updates through this dedicated news hub. Access timely press releases, earnings reports, and strategic developments from the New England banking leader.
This resource centralizes all material announcements across WASH's commercial banking and wealth management operations. Track updates on loan portfolio performance, trust service expansions, and community initiatives while staying informed about leadership changes and regulatory filings.
Key content includes quarterly earnings disclosures, merger & acquisition activity, dividend declarations, and corporate governance updates. All information is sourced directly from company filings and official statements to ensure accuracy.
Bookmark this page for streamlined access to WASH's financial communications. Combine historical context with current developments to better understand this institution's role in regional economic growth and personal wealth management solutions.
The Washington Trust Company announced the rebranding of its wealth management offices across Rhode Island, Massachusetts, and Connecticut to the unified name "Washington Trust Wealth Management." This change encompasses previously separate entities such as Weston Financial Group and Halsey Associates, acquired in 2005 and 2015, respectively. The rebranding aims to strengthen the company's comprehensive wealth management services, which include financial planning and investment management, reflecting assets under administration of over $7 billion.
Washington Trust Bancorp, Inc. (NASDAQ: WASH) has announced a stock repurchase program allowing the buyback of up to 850,000 shares, approximately 5% of its common stock. The program is authorized to be executed at the Board's discretion based on market conditions and regulatory considerations. As of October 31, 2021, the corporation had about 17.3 million shares outstanding. The program will expire on December 31, 2022, with the potential for amendments or suspensions as needed.
Washington Trust Bancorp, Inc. (WASH) reported third quarter 2021 net income of $18.8 million, or $1.07 per diluted share, up from $17.5 million in the previous quarter. The company achieved record total assets of $6 billion and $5 billion in deposits. Key metrics include a net interest income of $36.1 million, with a net interest margin of 2.58%. Total loans were $4.3 billion, down 0.3% quarter-over-quarter. Noninterest income decreased to $20.5 million, reflecting a decline in certain revenues. Capital ratios exceed regulatory minimums, with a book value per share of $32.06.
The Washington Trust Company plans to open a new branch at 1900 Mendon Road, Cumberland, RI, following preliminary approval from the town planning board. The approximately 2,300 square feet branch will feature lobby banking, a drive-up lane, ATM services, and safe deposit boxes. Chairman & CEO Ned Handy expressed excitement over the expansion into Northern Rhode Island, enhancing service for both new and existing customers. This new location will increase Washington Trust's total branches to 24 in Rhode Island and one in Mystic, Connecticut.
Washington Trust Bancorp (NASDAQ: WASH) will release its third quarter 2021 earnings on October 25, 2021, after market close. A conference call with executives is scheduled for October 26, 2021, at 8:30 a.m. ET. Participants can dial in at 1-844-378-6480 (toll-free) or 1-412-317-1088 (international). A webcast will be available on the company's website. The teleconference replay will run from October 26 to November 9, 2021, with instructions provided for accessing the replay.
The Washington Trust Company has been named the Best Small Bank in Rhode Island by Newsweek in their annual Best Banks listing. The evaluation involved over 2,600 FDIC-insured institutions assessing overall health, customer service, digital presence, and loan options. Chairman Edward Handy expressed pride in this recognition, highlighting the bank's commitment to quality service over its 220-year history.
Washington Trust, led by Chairman and CEO Edward "Ned" Handy III, received the Community Partner Impact Award from the Nonviolence Institute at the annual Invest In Peace event on September 26, 2021. This accolade recognizes the bank's significant contributions to building a healthier Rhode Island community. Handy emphasized Washington Trust's ongoing support for the Institute's peace initiatives, which are vital amid current societal challenges. For over 220 years, Washington Trust has dedicated resources to various community-focused efforts.
Washington Trust Bancorp, Inc. (NASDAQ: WASH) has declared a quarterly dividend of 52 cents per share for the quarter ending September 30, 2021. This dividend will be paid on October 8, 2021 to shareholders of record on October 1, 2021. As of June 30, 2021, the company reported assets totaling $5.9 billion. Founded in 1800, Washington Trust is the oldest community bank in the U.S. and a key player in financial services in the Northeast.
Washington Trust has pledged $200,000 over four years to support the STAR Campaign for San Miguel School in Providence, RI. This investment will help maintain a nurturing environment and exceptional education for its students. The San Miguel School, which serves underprivileged boys, has seen a 98% high school graduation rate and an 80% college attendance rate. The STAR campaign aims to raise $5 million in total, with $4.6 million already secured, funding new educational facilities and services.
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