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SHRINKING NUMBERS: Local banks have seen their net interest margin getting smaller over the last 12 months, which translates to lower interest income. That situation isn’t expected to change much in 2020./ SOURCES: SEC FILINGS; FDIC QUARTERLY BANKING PROFILE

Banks expected to continue feeling squeeze in lending margins

For Marc Perlman, principal owner and CEO of Ocean State Job Lot, the Federal Reserve’s outlook for 2020 is the best business fortune he...

Washington Trust announces stock buyback program

WESTERLY – Washington Trust Bancorp Inc. is seeking to repurchase up to 850,000 shares, or 5%, of the company’s outstanding common stock over the...
CITIZENS BANK N.A. reported a net income of $1.4 billion through the third quarter, according to financial data from the Federal Deposit Insurance Corp. Thursday. / BLOOMBERG FILE PHOTO/SCOTT EISEN

FDIC: 16 banks within R.I., Bristol County, Mass., report profit increases...

PROVIDENCE – Sixteen banks that operate in Rhode Island and Bristol County, Mass., reported increases in third quarter year-to-date profit from 2018, while seven...

Washington Trust ramps up dividends

WESTERLY – The board of directors of Washington Trust Bancorp Inc., parent of The Washington Trust Co., recently declared a dividend of 51 cents...

Report: BofA drops to No. 2 in R.I. market share after...

PROVIDENCE – While other banks’ in-state deposits have remained relatively stable, Bank of America Corp.’s total Rhode Island deposits dropped by $5.4 billion as...
RHODE ISLAND banking institutions' assets increased 29% year over year at the end of the second quarter. / BLOOMBERG NEWS FILE PHOTO/ANDREW HARRER

FDIC: R.I. banking assets increase 29% Y/Y in Q2

PROVIDENCE – Rhode Island banking institution assets increased 28.9% year over year to $174.1 billion in the second quarter of 2019, according to the...

American Banker names WashTrust among ‘Best Banks to Work For’

WESTERLY – The Washington Trust Co. was recently named one of the nation’s “Best Banks to Work For” by American Banker magazine. Among 85 community...

WashTrust, Navigant named to Forbes’ ‘Best-In-State Banks and Credit Unions’

PROVIDENCE – The Washington Trust Co. in Westerly and Navigant Credit Union in Smithfield were the two Rhode Island financial institutions listed on Forbes...
PREPPED TO HELP: Washington Trust employees volunteer to serve meals to the community at the McAuley House in Providence.
 / COURTESY THE WASHINGTON TRUST CO.

The Washington Trust Co.

Best Places to Work 2019 | ENTERPRISE (500-plus employees): 3. The Washington Trust Co. What three words best describe your staff? Talented, loyal and authentic. How...

Boards of directors for Washington Trust and Halsey Associates approve merger

WESTERLY – The boards of directors of The Washington Trust Co. and the bank’s wholly owned subsidiary Halsey Associates Inc. approved the merger of...
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