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.
Washington Trust Bancorp (NASDAQ: WASH) has successfully closed its upsized public stock offering, selling 1,911,764 shares at $34.00 per share. The offering included 286,764 additional shares through the underwriters' purchase option, bringing the total to 2,198,528 shares. BofA Securities acted as the sole book-running manager.
The company expects to receive approximately $71.01 million in proceeds after underwriting discounts and commissions. The funds will be used for general corporate purposes, including supporting organic growth, capital generation, Bank investments, and balance sheet optimization strategies such as selling lower-yielding loans, repaying wholesale funding, and purchasing higher-yielding debt securities.
Washington Trust Bancorp (NASDAQ: WASH) has announced the pricing of its upsized public offering of 1,911,764 shares of common stock at $34.00 per share. The offering is expected to generate approximately $61.75 million in proceeds after underwriting discounts and commissions. The company has also granted a 30-day option to purchase up to 286,764 additional shares.
The offering is expected to close on December 16, 2024. The proceeds will be used for general corporate purposes, including supporting organic growth, bank investments, and balance sheet optimization strategies. These strategies include selling lower-yielding loans, repaying wholesale funding, and purchasing higher-yielding debt securities. BofA Securities is serving as the sole book-running manager for the offering.
Washington Trust Bancorp (NASDAQ: WASH) has announced an underwritten public offering of $55 million of common stock, with an additional 30-day option for the underwriter to purchase up to 15% more shares. BofA Securities is the sole book-running manager for the offering.
The company plans to use the net proceeds for general corporate purposes to support organic growth and capital generation, including investments in The Washington Trust Company and Bank balance sheet optimization strategies. These strategies involve selling lower-yielding loans, available-for-sale debt securities, repaying wholesale funding balances, and purchasing debt securities with current market yields.
Washington Trust has appointed Michelle Kile as Executive Vice President and Chief Retail Banking Officer. With 20 years of experience in Retail Banking delivery from New England financial institutions, Kile will oversee retail sales and customer service across 28 retail branch offices, Customer Solutions Center, and digital banking services. Prior to joining Washington Trust, she led Retail branch services at Digital Federal Credit Union in Franklin, MA. A Rhode Island resident and graduate of Rhode Island College, Kile brings expertise in branch transformation, solution-oriented personal service, and digital optimization.
Washington Trust Company has been voted the #1 Bank in the RI Media Group and Sun Publication's Community Choice Awards Program. The recognition came through a readers' poll across multiple Rhode Island newspapers, including The Westerly Sun, Mystic River Press, and others. Chairman and CEO Edward O. Handy III attributed the success to employees' dedication to outstanding service.
The bank operates 28 branches throughout Rhode Island and Connecticut, offering comprehensive financial solutions including deposit services, mortgage and home equity loans, business banking services, and wealth management and trust services. The Community Choice Awards program recognizes the best businesses in Rhode Island based on reader votes.
Washington Trust Bancorp, Inc. (Nasdaq: WASH) reported third quarter 2024 net income of $11.0 million, or $0.64 per diluted share, compared to $10.8 million, or $0.63 per diluted share, in Q2 2024. Key highlights include:
- Net interest margin increased to 1.85% from 1.83% in Q2
- Wealth management revenues rose 3% from Q2
- Assets under administration reached $7.1 billion, up 4% from Q2
- Total loans decreased 2% to $5.5 billion
- In-market deposits increased 3% to $4.8 billion
- Provision for credit losses decreased to $200,000 from $500,000 in Q2
The company maintained solid asset quality metrics and expanded its presence in Providence with a new branch opening.
Washington Trust Bancorp, Inc. (NASDAQ: WASH), the publicly-owned holding company of The Washington Trust Company, has announced its schedule for the release of third quarter 2024 earnings and the subsequent conference call. The earnings will be released on Monday, October 21, 2024, after the market closes. The conference call with the 's executives is scheduled for Tuesday, October 22, 2024, at 8:30 a.m. ET.
Participants can join the call using the toll-free number 1-833-470-1428 or international dial-in numbers. The access code for the call is 539756. A webcast will also be available on Washington Trust Bancorp's investor relations website. For those unable to attend, a teleconference replay will be accessible until Tuesday, November 5, 2024, using the replay number 1-866-813-9403 (Toll-Free) with the access code 963764.
Washington Trust has been recognized with two prestigious workplace wellness awards. The Bank was named one of Rhode Island's Healthiest Employers by Providence Business News for the third consecutive year. Additionally, it received an Exemplary Worksite Heath Award from Blue Cross & Blue Shield of RI and the Greater Providence Chamber of Commerce for the tenth consecutive year, with the last eight at the Exemplary level.
These awards acknowledge Rhode Island employers who prioritize employee health and well-being through policies, culture, programs, and education. Kristen DiSanto, Senior Executive VP and Chief HR Officer, emphasized the Bank's commitment to a holistic approach to wellness for employees and their families.
Washington Trust is currently recruiting and will participate in BankForward's Career Discovery Day on October 5th at CCRI's Providence Campus. This event aims to help potential employees explore opportunities in banking and finance.
Washington Trust has expanded its RI Community Lending Program by introducing I Luv RI™ Home Improvement Loans. These loans offer discounted rates of up to 2% for home renovation and repair, with flexible options up to $50,000. The program is available in 14 Rhode Island cities and towns, including Providence, Newport, and Warwick.
The Bank recently hosted an educational event for real estate professionals to inform them about the program's expansion, which includes four unique mortgage options with various financing options, matching funds/grants, and closing cost credits. Washington Trust has a team of community lending officers and mortgage lenders throughout Rhode Island to assist residents with homebuying and homeownership needs, including financial education and resources.
Washington Trust Bancorp (NASDAQ: WASH) has announced its quarterly dividend for the period ending September 30, 2024. The Board of Directors has declared a dividend of 56 cents per share, which will be paid on October 11, 2024 to shareholders of record as of October 1, 2024. This announcement demonstrates the company's commitment to providing regular returns to its shareholders.
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