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Local lenders report slowdown in PPP applications but increased anxiety over...

PROVIDENCE – The flood of applications from small businesses desperate for payroll relief has slowed to a trickle, local lenders say. But while demand for...
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Local lenders strapped for capacity as PPP opens to new applicants

PROVIDENCE – The initial surge in applications from small business owners clambering to get their shares of a federal payroll relief program have abated...
THE WASHINGTON TRUST CO. is one of the lenders preparing for heavy demand from small businesses looking to participate in the federal Paycheck Protection Program, starting Friday. / PBN FILE PHOTO/SCOTT KINGSLEY

Stressed local bankers brace for overwhelming demand for new SBA loans...

PROVIDENCE – Local bankers are expecting an onslaught of demand from struggling small businesses looking to get a piece of the nearly $350 billion...
ECONOMIC CONCERNS: Panelists, from left, Kristen Urbach, Thomas O. Sweeney, Stefan Pryor, Mark K. W. Gim and Luke Ebersold discuss a variety of concerns at the PBN Economic Trends Summit while moderator Thomas Zitzouris looks on. / PBN PHOTO/MIKE SKORSKI

PBN summit: High business costs, education are concerns in R.I.

The Rhode Island economy has come a long way since the dark days of the Great Recession, when the unemployment rate was among the...
PANELISTS DISCUSS the outlook for 2020 during Providence Business News' Economic Trends Summit at the Crowne Plaza Providence-Warwick on Thursday morning. The panelists included, from left, Kristin Urbach, North Kingstown Chamber of Commerce executive director; Thomas O. Sweeney, founder of Sweeney Real Estate & Appraisal; R.I. Commerce Secretary Stefan Pryor; Mark Gim, The Washington Trust Co. president and chief operating officer; Luke Ebersold, Rhode Island managing partner at blumshapiro; and Thomas Tzitzouris, Strategas Research Partners director. / PBN PHOTO/MIKE SKORSKI

PBN economic summit keynote: Recession not in the forecast

WARWICK – “There is no reason to suspect there will be a recession in the U.S. anytime soon,” said Thomas Tzitzouris, a Rhode Island...

Rhode Island Free Clinic Announces Changes to Board Leadership Team and...

RI Free Clinic Board of Directors President Mark Gim to take President Emeritus Position, to be succeeded as Board President by William Fitzgerald. RI Free...
TANDEM APPROACH: Mark K. W. Gim, president and chief operating officer of The Washington Trust Co., said focusing on operating physical branch locations in tandem with digital offerings allows the bank to maintain its customer flow.
 / PBN FILE PHOTO/MICHAEL SALERNO

Customers still want brick-and-mortar banking

It started with drive-through banking lanes. Then it was automated teller machines – ATMs. Hailed as the future of banking, many thought the days...
CONFIDENCE WANING? Matt Fair, center, of Hayes & ­Sherry Real Estate Services, listens with colleagues during PBN’s first Economic Trends Summit in Providence on Feb. 15. Panelists said perennial concerns such as rising health care costs and uncertainty about changing federal policies are dampening optimism about an otherwise strong economy.
 / PBN PHOTO/RUPERT WHITELEY

Optimism tempered by uncertainty

Rhode Island’s economy is doing well, but a handful of perennial bugaboos, along with actions at the federal level, have dampened the business community’s...
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

Five Questions With Joseph J. MarcAurele

Joseph J. MarcAurele | Chairman and CEO, Washington Trust Bancorp Inc. 1. What was the impetus behind the decision to retire right now? We...

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