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CITIZENS BANK N.A. reported net income of $1.39 billion as of Dec. 31, 2018, according to data released by the Federal Deposit Insurance Corp. on Thursday. / PBN FILE PHOTO/ELI SHERMAN

FDIC: Local banks see profit grow 38% in 2018

PROVIDENCE – More than 20 banks with branches located in Rhode Island and Bristol County, Mass., reported year-over-year increases in net income at the...
THE R.I. DIVISION of Public Utilities and Carriers has denied Interstate Navigation Co.'s request for approval to finance a new 500-passenger fast ferry to Block Island. / COURTESY BLOCK ISLAND TOURISM COUNCIL

DPUC denies Interstate Navigation’s request to finance construction of new ferry

WARWICK – Significant questions about timing and inconsistencies in Interstate Navigation Co.’s arguments over the needs of additional fast-ferry service to Block Island prompted...

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...
INTERSTATE NAVIGATION is seeking approval from the R.I. Division of Public Utilities and Carriers to borrow $8.5 million from The Washington Trust Co. to finance the construction of a new fast ferry. The hearing is scheduled for Dec. 28 at 10 a.m. / PBN FILE PHOTO/K. CURTIS

Interstate Navigation seeks approval to finance construction of new ferry

WARWICK – The R.I. Division of Public Utilities and Carriers will hold a public hearing Thursday at 10 a.m. at its office, 89 Jefferson...

Washington Trust announces senior management promotions

WESTERLY – The Washington Trust Co., one of Rhode Island’s largest retail banks, recently filled four senior management positions from within the company.Amy U....

Five Questions With: Marcus Charlemagne

Marcus Charlemagne was recently named assistant vice president and manager for The Washington Trust Co.’s new North Providence branch, set to open at 1588...

Washington Trust, BankNewport appoint new branch managers

PROVIDENCE – The Washington Trust Co. has appointed Marcus Charlemagne as assistant vice president and branch manager for the new Washington Trust branch set...

WashTrust posts $17.5M Q3 profit

WESTERLY – Washington Trust Bancorp Inc. on Monday reported a 35.1 percent year-over-year increase in profit in the third quarter to $17.5 million, or...

Report: Bank of America takes lead in bank deposits within Rhode...

PROVIDENCE – Rhode Island consumer banking has become a little less local, as Charlotte, N.C.-based Bank of America now has the most in-state deposits,...
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...
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