BankRI profits drop 19% but Wash. Trust’s grow

The state’s two largest independent banks last week reported their 2006 financial results, offering sharply different outlooks: While The Washington Trust Co. reported an 8.7-percent year-to-year gain in earnings, Bank Rhode Island reported a 19-percent drop. Westerly-based Washington Trust reported $25 million in net income for the year, or $1.82 per diluted share. The bank…

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