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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.

News

Washington Trust Recognizes Employees at Annual Celebration

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Washington Trust recognizes exceptional employees with donations to local non-profits. Employees honored for leadership, teamwork, and community service. Donations totaling $6,000 made by the Charitable Foundation. CEO Edward O. 'Ned' Handy III praises employees' service excellence.
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Washington Trust Bancorp, Inc. Announces Quarterly Dividend

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Washington Trust Bancorp, Inc. declares a quarterly dividend of 56 cents per share for the quarter ending March 31, 2024.
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Washington Trust Charitable Foundation Donates $122,000 to Housing Organizations in Rhode Island

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Washington Trust Announces Strategic Partnership, Driving Growth and Expansion Opportunities
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Washington Trust opens 27th branch in Smithfield, R.I.

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Washington Trust opens its 27th branch in Smithfield, Rhode Island, offering a full suite of financial solutions to customers in northern Rhode Island. The branch aims to provide convenience through personal in-branch service and digital banking options.
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Washington Trust Appoints Debra M. Paul and Angel Taveras To Board of Directors

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Washington Trust Bancorp, Inc. (NASDAQ: WASH) appoints Debra M. Paul and Angel Taveras, Esq. to its Board of Directors, bringing extensive leadership and expertise to the Corporation and its subsidiary bank, effective March 1, 2024.
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Washington Trust Bancorp, Inc. Announces Virtual Annual Shareholders Meeting

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Washington Trust Bancorp, Inc. (NASDAQ: WASH) has announced that its 2024 Annual Meeting of Shareholders will be held virtually on April 23, 2024. Shareholders of record as of February 27, 2024, are entitled to attend and vote at the meeting. The meeting will be held at 11:00 a.m. ET. Additional information will be provided in the Company's proxy statement.
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Washington Trust Supports Crossroads Capital Campaign and 'Welcome Home' Program

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Washington Trust President & COO Mary E. Noons visited Crossroads Rhode Island to donate 'Welcome Home' kits for clients transitioning from homelessness to stable housing. The kits, collected by Washington Trust employees, contained personal care and household supplies. Washington Trust also committed $50,000 to Crossroads' 'Roads to Home' capital campaign to reduce homelessness by creating nearly 300 affordable permanent supportive apartments for formerly homeless adults in Providence.
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Washington Trust Reports Fourth Quarter and Full-Year 2023 Earnings

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Washington Trust Bancorp, Inc. (Nasdaq: WASH) announced a net income of $12.9 million for the fourth quarter of 2023, compared to $11.2 million for the third quarter. The year-end net income was $48.2 million, down from $71.7 million the previous year. This decrease was influenced by changes in Massachusetts tax law, resulting in a revaluation of deferred tax assets and liabilities, leading to a $3.3 million increase in net deferred tax assets and a corresponding decrease in income tax expense. The CEO highlighted the Corporation's perseverance in facing economic challenges.
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Washington Trust Announces Date of Fourth Quarter 2023 Earnings Release, Conference Call and Webcast

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Washington Trust Bancorp, Inc. (WASH) will release Q4 2023 earnings on January 24, 2024, and host a conference call on January 25, 2024. The company's website will provide a webcast, and a teleconference replay will be available until February 8, 2024. Participant dial-in and access codes are provided for both domestic and international callers.
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Washington Trust Bancorp, Inc. Announces Quarterly Dividend

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Washington Trust Bancorp, Inc. (NASDAQ: WASH) declares a quarterly dividend of 56 cents per share for the quarter ending December 31, 2023.
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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.

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Washington Trust Bancorp Inc

Nasdaq:WASH

WASH Rankings

#2944 Ranked by Market Cap
#383 Ranked by Dividends

WASH Stock Data

599.86M
16.72M
1.64%
71.67%
3.35%
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