First Financial declares quarterly dividend

The Board of Directors of First Financial Corp., parent company of First Bank and Trust Company, has voted to approve a quarterly dividend of $.15 per share for the second quarter of 2002. The declaration represents the same quarterly dividend amount that was paid to shareholders in the first quarter of 2002.
The $.15 per share dividend will be paid to stockholders of record as of April 1, 2002, with a payment date of April 15, 2002. The announcement was made today by Patrick J. Shanahan, Jr., chairman, president and chief executive officer.



On Nov. 12, 2001, First Financial Corp. entered into an Agreement and Plan of Merger with Washington Trust Bancorp, Inc., pursuant to which First Financial Corp. will merge with and into Washington Trust. The shareholders of First Financial Corp. voted to approve the merger at a special meeting held March 6, 2002. The merger remains subject to certain federal and state regulatory approvals and is expected to be completed in the second quarter of 2002.



First Bank currently operates four banking offices in Rhode Island, including its main and executive offices in Providence, branches in Cranston and Richmond, and an in-store branch at the Wal-Mart in North Kingstown.