STOCK TITAN

Washington Trust Bancorp Inc - WASH STOCK NEWS

Welcome to our dedicated page for Washington Trust Bancorp news (Ticker: WASH), a resource for investors and traders seeking the latest updates and insights on Washington Trust Bancorp stock.

Washington Trust Bancorp Inc. (NASDAQ: WASH) is the parent company of The Washington Trust Company, the oldest community bank in the United States, founded in 1800. Headquartered in Rhode Island, Washington Trust provides a comprehensive range of financial services across Rhode Island, Connecticut, and Massachusetts. These services include commercial banking, mortgage banking, personal banking, and wealth management.

Commercial Banking: The company’s commercial banking segment focuses on lending activities, including commercial loans and residential real estate loans, and deposit services.

Wealth Management: The wealth management segment offers investment management, financial planning, personal trust, and estate services, including roles as trustee, personal representative, custodian, and guardian. The corporation's broader financial health is predominantly supported by its commercial banking operations.

Recent Developments: On September 27, 2023, Washington Trust entered a settlement with the U.S. Department of Justice regarding alleged fair lending law violations, agreeing to provide $7 million in mortgage loan subsidies and $2 million in community outreach over five years. Despite denying the allegations, this settlement aims to reinforce their commitment to equal lending practices.

Current Financials: For the third quarter of 2023, Washington Trust reported net income of $11.2 million. The corporation showed resilience amid challenging economic conditions, maintaining stable net interest and noninterest incomes.

Community Initiatives: Washington Trust demonstrates strong community involvement through initiatives like the annual Washington Trust Peanut Butter Drive, which has collected over 161 tons of peanut butter since 2001 to support local food banks.

Washington Trust Bancorp Inc. remains committed to fostering financial stability and growth for individuals and businesses in New England through a robust selection of banking and financial services.

Rhea-AI Summary

Washington Trust Bancorp has declared a quarterly dividend of 56 cents per share for the quarter ending June 30, 2024.

This dividend will be paid out on July 12, 2024 to shareholders who are on record as of July 1, 2024.

This announcement was made by the Board of Directors on June 20, 2024.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.12%
Tags
dividends
-
Rhea-AI Summary

Washington Trust, the largest state-chartered bank in Rhode Island, launched a multimedia campaign to highlight the ease of opening deposit accounts online. The campaign features local talent, businesses, and classic Rhode Island activities, and is available in both English and Spanish. The Bank emphasizes its commitment to providing a fast and secure online banking experience, enabling users to quickly switch direct deposits and recurring payments. The campaign was developed in collaboration with local companies and businesses, showcasing locations such as Roger Williams Park Zoo and Misquamicut State Beach.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.54%
Tags
none
-
Rhea-AI Summary

Washington Trust has allocated $20,000 to West Elmwood Housing Development This contribution will support the Match Savings Incentive Program (MSIP) and the Get Your House In Order Program (GYHIOP). MSIP aims to assist low-to-moderate income individuals towards asset ownership through financial workshops covering budgeting, debt management, and home buying. GYHIOP provides culturally specific financial education for African Americans, focusing on financial literacy over a four-week course. This donation is a part of Washington Trust's larger initiative, which has given over $584,000 to various organizations, including $122,000 towards affordable housing programs up to May 31, 2024.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.82%
Tags
none
Rhea-AI Summary

Washington Trust announced a $125,000 donation to the City of Central Falls for the development of El Centro, a community hub aimed at providing health, wellness, education, and workforce development resources. The five-year grant will aid in planning and redevelopment of the hub at 702 Broad Street. El Centro will connect residents with vital services such as mental health, public safety behavioral health, and small business assistance. Washington Trust's Chairman and CEO, Edward O. Handy III, expressed enthusiasm for the transformative project, while Central Falls Mayor Maria Rivera highlighted its potential impact on residents' lives. Additionally, Washington Trust supports financial education through programs in local schools.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.17%
Tags
none
-
Rhea-AI Summary

Washington Trust has launched a Spanish version of its website to better serve the Hispanic/Latino community. Partnering with Envision Technology Advisors and Be Moore Interpreting, the bank aims to provide inclusive financial tools and information. This initiative aligns with the bank's long-standing commitment to economic empowerment and inclusivity. The new website can be accessed at https://www.washtrust.com/es/.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.16%
Tags
none
-
Rhea-AI Summary

Washington Trust Bancorp (NASDAQ: WASH) released its 2024 Environmental, Social, and Governance (ESG) Report on May 15, 2024. This report outlines the 's ongoing efforts and achievements in key areas such as employee engagement, diversity, equity, inclusion, corporate governance, data security, community involvement, and environmental responsibility. CEO Edward O. Handy III emphasized the importance of maintaining high ESG standards to ensure the long-term sustainability of the business and positively impact all stakeholders. The report provides insights into how Washington Trust is attracting a diverse workforce, managing risk, and enriching the community, while also prioritizing sustainable practices to lessen environmental impact.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.37%
Tags
none
Rhea-AI Summary
Washington Trust Company celebrates its 24th Annual Peanut Butter Drive by collecting 2.5 tons of peanut butter, showcasing its commitment to community service and philanthropy.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.81%
Tags
none
-
Rhea-AI Summary
Washington Trust Bancorp, Inc. reported first quarter 2024 net income of $10.9 million, or $0.64 per diluted share, showcasing the impact of its diversified business model. The company focused on managing the balance sheet, credit quality, and expenses to navigate challenges ahead. Notable financial highlights include: returns on average equity and assets, net interest margin, provision for credit losses, wealth management and mortgage banking revenues, total loans, in-market deposits, noninterest income, and noninterest expenses.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.78%
Tags
-
Rhea-AI Summary
Washington Trust donates $22,000 to NeighborWorks Blackstone River Valley for a new 'Focused Neighborhood Homeownership Initiative'.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.52%
Tags
none
Rhea-AI Summary
Washington Trust Bancorp, Inc. (NASDAQ: WASH) announces the release of first quarter 2024 earnings and a conference call for investors and analysts. The earnings release is scheduled for Monday, April 22, 2024, at 8:00 a.m. ET, followed by a conference call at 10:00 a.m. ET. Participants can join the call using the provided dial-in numbers or access the webcast on the company's website. A teleconference replay will be available until May 6, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.81%
Tags

FAQ

What is the current stock price of Washington Trust Bancorp (WASH)?

The current stock price of Washington Trust Bancorp (WASH) is $31.83 as of December 23, 2024.

What is the market cap of Washington Trust Bancorp (WASH)?

The market cap of Washington Trust Bancorp (WASH) is approximately 599.9M.

What does Washington Trust Bancorp Inc. do?

Washington Trust Bancorp Inc. provides a comprehensive range of financial services, including commercial banking, mortgage banking, personal banking, and wealth management through its offices in Rhode Island, Connecticut, and Massachusetts.

Where is Washington Trust Bancorp Inc. headquartered?

Washington Trust Bancorp Inc. is headquartered in Rhode Island.

What recent achievements has Washington Trust Bancorp Inc. announced?

In September 2023, Washington Trust entered a settlement with the U.S. Department of Justice regarding alleged fair lending law violations, committing $9 million towards mortgage loan subsidies and community outreach.

How does Washington Trust Bancorp Inc. generate revenue?

Washington Trust generates the majority of its revenue through its commercial banking segment, which includes lending activities and deposit services.

What community initiatives is Washington Trust involved in?

Washington Trust supports numerous community initiatives, including the annual Washington Trust Peanut Butter Drive, which has collected over 161 tons of peanut butter for local food banks since 2001.

What are the financial highlights for Washington Trust's third quarter of 2023?

Washington Trust reported a net income of $11.2 million for the third quarter of 2023, highlighting its resilience and stable performance amid challenging economic conditions.

What is Washington Trust's approach to fair lending?

Washington Trust is committed to fair lending practices and has agreed to a settlement with the DOJ to reinforce their equal lending commitments, including mortgage subsidies and community outreach.

How does Washington Trust support its customers and community?

Washington Trust offers a variety of financial services and community programs, including financial literacy and educational programs to help potential borrowers prepare for home ownership.

What is the significance of Washington Trust's wealth management services?

Washington Trust's wealth management services include investment management, financial planning, personal trust and estate services, which help individuals and businesses achieve their financial goals.

How can investors access more information about Washington Trust Bancorp Inc.?

Investors can find more information on Washington Trust Bancorp Inc.'s website at ir.washtrust.com or by following the company's stock on NASDAQ under the symbol WASH.

Washington Trust Bancorp Inc

Nasdaq:WASH

WASH Rankings

WASH Stock Data

599.86M
16.72M
1.64%
71.67%
3.35%
Banks - Regional
State Commercial Banks
Link
United States of America
WESTERLY