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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...
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...
DRAMATIC CHANGE: Johnson & Wales CEO John J. Bowen says the most dramatic change in his 44 years at JWU is its ability to graduate students with a manageable debt, growing its discount rate for first-time, full-time students from 20.7 percent in 2003-2004 to 54 percent today. / PBN PHOTO/RUPERT WHITELEY

Retiring CEO John Bowen has helped JWU expand and prosper. What...

For 44 years, John J. Bowen has been a fixture in the Johnson & Wales University community. In January, the chancellor, president and CEO...
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...
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...
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

Banks are optimistic tax reform will benefit the bottom line long-term

The Rhode Island banking community has largely celebrated the sweeping tax overhaul approved by Congress that among other things lowered the corporate tax rate...
THE WASHINGTON TRUST CO. recently provided $7.4 million in a deal with Woodgreen Rocky Hill LLC to refinance Waterchase Center, a mixed-use property in Rocky Hill, Conn.

Washington Trust provides $7.4M for Connecticut retail center

WESTERLY – The Washington Trust Co. recently provided $7.4 million to finance a mixed-use property in Rocky Hill, Conn. The deal was made with Woodgreen...
BOSTON-BASED BROOKLINE BANCORP, parent of Bank Rhode Island, reported fourth-quarter and full-year earnings that were negatively impacted by the federal tax overhaul.

Brookline Bancorp 2017, 4Q profit fall after new tax law

BOSTON – Brookline Bancorp Inc. suffered a $9 million noncash charge on deferred tax assets stemming from the federal tax overhaul, depressing both full-year...
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...
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