Banks on higher alert for credit weakness

STILL GOING STRONG: John Bellone, owner of The Breezeway Resort, The Hotel Maria, pictured, and Maria’s Seaside Cafe in Westerly, says in his 50 years as a customer of The Washington Trust Co., he’s never deferred a loan payment and has continued to meet monthly payments for the mortgages on his commercial properties throughout the pandemic, thanks to a strong business in a limited season. / PBN PHOTO/MICHAEL SALERNO
STILL GOING STRONG: John Bellone, owner of The Breezeway Resort, The Hotel Maria, pictured, and Maria’s Seaside Cafe in Westerly, says in his 50 years as a customer of The Washington Trust Co., he’s never deferred a loan payment and has continued to meet monthly payments for the mortgages on his commercial properties throughout the pandemic, thanks to a strong business in a limited season. / PBN PHOTO/MICHAEL SALERNO
In his 50 years as a customer of The Washington Trust Co., John Bellone has never deferred a loan payment. Not through the 2008 financial crisis or the 2012 hurricane that ravaged his three oceanfront businesses in Westerly: two hotels and a restaurant. Even through the COVID-19 pandemic that has crippled the hospitality industry, Bellone…

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