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CASH BONUS: The Washington Trust Co. said it was able to provide employees with one-time cash bonuses in January as a result of a reduction in its corporate taxes. Patricia Fernandez, left, professional flex banker at Washington Trust on Waterman Street in Providence, speaks with customer Nina Pratt of Providence.
 / PBN PHOTO/MICHAEL SALERNO

Banks say tax reform allowed for increased spending on staff, infrastructure

Many banks in Rhode Island and elsewhere have showered employees with pay raises and bonuses since President Donald Trump and fellow Republicans in Congress...
FDIC statistics released Thursday show that Rhode Island banks and their counterparts nationwide are having a stellar year, boosting collective profits by 25 percent. / BLOOMBERG NEWS FILE PHOTO/ANDREW HARRER

R.I. banks having a stellar year, FDIC report shows

PROVIDENCE – Bolstered by a large cut in the corporate tax rate, United States banks collectively are on a financial roll, and the nine...
A GROUP OF EMPLOYEES from Westerly-based Washington Trust Bancorp, led by Chairman and CEO Edward O. Handy III (center), ring the opening bell Tuesday for the Nasdaq Stock Market in New York. / COURTESY NASDAQ AND WASHINGTON TRUST

Washington Trust group rings opening bell for Nasdaq

WESTERLY – A group of employees from Rhode Island-based Washington Trust Bancorp Inc. had their moment in the sun Tuesday, ringing the daily opening...
PERSONAL RELATIONSHIP: Mark K. W. Gim, president and chief operating officer at Washington Trust Bancorp Inc., parent of Westerly based The Washington Trust Co., says local banks need to be vigilant to ensure smooth technology adoption while also maintaining the personal relationships banks have built their brand on.
 / PBN FILE PHOTO/MICHAEL SALERNO

Balancing demand for touch and tech

With an evolving mixture of millennials and older customers, local banks and credit unions increasingly face a dilemma when it comes to rapidly evolving...
THE WESTERLY EDUCATION CENTER recently received a $2,000 grant from The Washington Trust Charitable Foundation. From left, Dennis L. Algiere, senior vice president, chief compliance officer and director of community affairs for The Washington Trust Co.; Amy Grzybowski, executive director, Westerly Education Center; and Edward O. "Ned" Handy III, chairman and CEO, Washington Trust Bancorp. / COURTESY WASHINGTON TRUST

Westerly Education Center receives grant from Washington Trust

WESTERLY – The Westerly Education Center announced April 23 the receipt of a $2,000 grant from The Washington Trust Charitable Foundation.The funds will be...
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...
THE WASHINGTON TRUST CO. will host its second annual beach cleanup day on April 22, Earth Day, in which volunteers will remove litter and clear beaches throughout the state for the coming season.

Washington Trust brings back beach cleanup day

PROVIDENCE – In the second annual iteration of the event, The Washington Trust Co. will host its statewide beach cleanup day on April 22,...
ADAPTING INDUSTRY: As consumer expectations for online banking grow with advancing technology, banks and credit unions must find ways to adapt to those expectations while keeping costs down.

As technology becomes increasingly intertwined with banking, it presents opportunity and...

When Lisa G. Dandeneau first joined Navigant Credit Union more than 22 years ago, one of her first tasks was to help launch online...
THE WASHINGTON TRUST CO. recently provided $19.6 million in financing for a 134-unit apartment complex on Kettle Point Avenue in East Providence.

Washington Trust provides $19M for East Providence apartments

EAST PROVIDNECE – The Washington Trust Co. recently provided $19.6 million in financing for a 134-unit apartment complex in East Providence.The deal was made...
WASHINGTON TRUST BANCORP board of directors recently approved a 43 cent per share dividend for the 2018 first quarter.

Washington Trust boosts dividend to 43 cents per share

WESTERLY – Washington Trust Bancorp Inc. board of directors last week approved a 43 cent per share dividend for this year’s first quarter, marking...
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