By Michael Souza
PBN Staff Writer
WESTERLY – For the second consecutive year, The Washington Trust Company and its parent company, The Washington Trust Bancorp Inc., have been selected as one of the country’s best banks by the Bank Director 2012 annual bank performance scorecard.
Both years, Washington Trust has been the only Rhode Island bank to make the quarterly baking magazine’s annual list.
On this year’s list, Washington Trust was ranked 42nd out of 195 financial institutions in the $1 to $5 billion category.
The scorecard is a ranking of publicly owned U.S. banks and thrifts that are listed on the NASDAQ OMX and NYSE EURONEXT stock exchanges. The scorecard uses five key metrics that measure profitability, capital strength and asset quality.
“Washington Trust has a solid track record and we are proud to be recognized once again by Bank Director for our performance,” said Joseph J. MarcAurele, chairman, president and CEO of Washington Trust in a release announcing the achievement.
At this time last year, Washington Trust was named as one of the top 25 small-cap institutions in the United States by Sandler O’Neill + Partners, for its work from June 2010 to June 2011, and was also named on March 28, 2012 to the 2011 Bank Honor Roll of superior performers by Keefe Bruyette & Woods, Inc.