PROVIDENCE – Bank of America Corp. and The Washington Trust Co. were recognized as the state’s best banks by Newsweek.
The magazine in its recently published “America’s Best Banks 2022” list recognized the best small and big banks in each state, along with 26 national “Best in Class” awards.
In Rhode Island, Bank of America was recognized as the best big bank, while Washington Trust was named the state’s best small bank.
The list was compiled in partnership with LendingTree, which reviewed more than 2,500 financial institutions based on 30 different criteria, including overall health of the bank, customer service performance and features, digital and branch presence, account and loan options, interest rate offerings and fees.
Big banks were defined as those with at least one branch per 100,000 residents and at least $10 billion in assets. Small banks were defined as those with less than $10 billion in assets and had to be among the five banks with the most branches in the state.
Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.
