Citing new tax law, Washington Trust gives bonuses, pay increases

JOSEPH J. MARCAURELE, chairman and CEO of Washington Trust Bancorp Inc., parent of The Washington Trust Co., says the Tax Cuts and Jobs Act has allowed the bank to award each of its full-time employees with a one-time cash bonus of $1,000; part-time employees each received a $500 cash bonus; and about 40 percent of employees received a $1 per hour increase in pay. / COURTESY WASHINGTON TRUST BANCORP INC.
JOSEPH J. MARCAURELE, chairman and CEO of Washington Trust Bancorp Inc., parent of The Washington Trust Co., says the Tax Cuts and Jobs Act has allowed the bank to award each of its full-time employees with a one-time cash bonus of $1,000; part-time employees each received a $500 cash bonus; and about 40 percent of employees received a $1 per hour increase in pay. / COURTESY WASHINGTON TRUST BANCORP INC.
WESTERLY – Washington Trust Bancorp Inc. is the latest Rhode Island financial institution to share some of the new tax-law benefits. The company last week announced it has awarded each of its full-time employees with a one-time cash bonus of $1,000. Part-time employees have each received a $500 cash bonus. The award benefits employees earning…

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