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Tax reform boosts profits in banking industry

You might say 2018 was the year of Trump in banking. It’s debatable whether President Donald Trump is accomplishing his campaign promise to make...
EDWARD O. Handy III is the chairman and CEO of Westerly-based Washington Trust Bancorp Inc., the second largest Rhode Island-based bank. / PBN FILE PHOTO/MICHAEL SALERNO

Washington Trust reports $16M Q1 profit

WESTERLY – Washington Trust Bancorp Inc. on Friday reported record-breaking quarterly profit, which grew 37.6 percent to $16.2 million, or 93 cents per diluted...
EDWARD O. HANDY III, right, recently assumed the position of chairman and CEO of Washington Trust Bancorp Inc., the Westerly-based parent of The Washington Trust Co. Handy previously served as the bank's president and chief operating officer. Mark K. W. Gim, left, will take over that role. Gim previously served as the bank's senior executive vice president of wealth management and chief strategy officer. / COURTESY WASHINGTON TRUST

Washington Trust makes leadership change official

WESTERLY – The planned leadership change at Washington Trust Bancorp Inc. became official last week.Edward O. Handy III assumed the position of chairman and...
IN HIS FINAL YEAR-END earnings filing, Joseph J. MarcAurele, chairman and CEO of The Washington Trust Co., reported that the Westerly-based bank had strong full-year operating results, even though the new federal tax law resulted in a one-time charge of $6.2 million. / PBN FILE PHOTO/MICHAEL SALERNO

Washington Trust reports 2017, 4Q profit declines after new tax law

WESTERLY – Hit with a $6.2 million one-time charge on deferred tax assets, Washington Trust Bancorp Inc. on Tuesday reported 2017 profit fell 1.2...
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.

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

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...
JOSEPH J. MARCAURELE, chairman and CEO of Washington Trust Bancorp Inc., the Westerly-based parent of The Washington Trust Co., will retire this winter. He will be succeeded by president and chief operating officer Edward O. "Ned" Handy III. / COURTESY WASHINGTON TRUST BANCORP

Washington Trust announces senior management promotions

WESTERLY – Following major news that its CEO and chief financial officer would retire this winter, Washington Trust Bancorp Inc. has announced several senior-management...
JOSEPH J. MARCAURELE IS chairman and CEO of Washington Trust Bancorp Inc., parent of The Washington Trust Co. in Westerly, which reported third-quarter profit of $13 million on Monday. / COURTESY WASHINGTON TRUST BANCORP

Washington Trust 3Q profit rises 5% to $13M

WESTERLY – Washington Trust Bancorp Inc., the parent company of The Washington Trust Co., reported third-quarter net income of $13 million Monday, a 5.2...
TRENDING UPWARD: Washington Trust Co. Chairman and CEO Joseph J. MarcAurele, left, was succeeded by former Chief Operating Officer and President Edward "Ned" O. Handy III. MarcAurele led the bank to multiple years of year-over-year profitability growth since becoming CEO in 2010. / COURTESY WASHINGTON TRUST

Washington Trust CEO, CFO to retire

WESTERLY – There’s a changing of the guard planned this winter for Washington Trust Bancorp Inc., as long-time Chairman and CEO Joseph J. MarcAurele...
JOSEPH J. MARCAURELE IS chairman and CEO of Washington Trust Bancorp Inc., parent of The Washington Trust Co. in Westerly, which recently reported record-breaking second-quarter profit of $13.2 million. /COURTESY WASHINGTON TRUST BANCORP

Five Questions With: Joseph J. MarcAurele

Joseph J. MarcAurele is chairman and CEO of Washington Trust Bancorp Inc., parent of The Washington Trust Co. in Westerly.The company last week reported...
WASHINGTON TRUST BANCORP on Tuesday reported record earnings for 2015 of $43.5 million, thanks in part to the acquisition of Connecticut-based investment advisory firm Halsey Associates.

Washington Trust reports $13.2M in profit in 2Q, a quarterly record

WESTERLY – Washington Trust Bancorp Inc. on Monday reported record-breaking profit of $13.2 million, or 76 cents per diluted share, in the second quarter,...
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