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JOSEPH J. MARCAURELE, chairman and CEO of Washington Trust Bancorp Inc., parent of The Washington Trust Co., says the Tax Cuts and Jobs Act has allowed the bank to award each of its full-time employees with a one-time cash bonus of $1,000; part-time employees each received a $500 cash bonus; and about 40 percent of employees received a $1 per hour increase in pay. / COURTESY WASHINGTON TRUST BANCORP INC.

Citing new tax law, Washington Trust gives bonuses, pay increases

WESTERLY – Washington Trust Bancorp Inc. is the latest Rhode Island financial institution to share some of the new tax-law benefits.The company last week...
THE WASHINGTON TRUST CO. recently provided $16.5 million to refinance SoNo Pearl, a multifamily apartment building in Norwalk, Conn.

Washington Trust provides $16.5M for Connecticut apartment building

WESTERLY – The Washington Trust Co. recently provided $16.5 million to refinance a multifamily apartment building in Norwalk, Conn.The financing deal was made with...
THE WASHINGTON TRUST CO. recently provided $9.8 million to finance a new commercial project in downtown New Haven, Conn., which includes a recently constructed Rite Aid Pharmacy and a 10,000-square-foot retail building.

Washington Trust provides $9.8M for Connecticut development

WESTERLY – The Washington Trust Co. recently provided $9.8 million to finance a new commercial project in downtown New Haven, Conn.The Westerly-based bank refinanced...
RONALD S. OHSBERG, senior executive president and treasurer of Washington Trust Bancorp Inc.,is transitioning into the new role of chief financial officer. / COURTESY WASHINGTON TRUST

Five Questions With: Ronald S. Ohsberg

Ronald S. Ohsberg is senior executive president and treasurer of Washington Trust Bancorp Inc. Ohsberg is currently transitioning into the new role of chief...
EXPANDING: Home Loan Investment Bank recently opened two new lending offices, in Warwick and Providence. Above, foreground, Kevin Roche, vice president, speaks with Tania Krouse, mortgage adviser, while John Casey, background left, mortgage banker, consults with Brian J. Murphy, chairman and CEO. / PBN PHOTO/MICHAEL SALERNO

Small banks, credit unions still finding value in opening new branches

When was the last time you went to the bank?If you can’t remember, you’re not alone. Waiting in line for the bank teller is...
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...
THE WASHINGTON TRUST CO. executives celebrate the opening of its new Coventry branch during a ribbon-cutting ceremony with elected officials. /COURTESY WASHINGTON TRUST

Washington Trust celebrates new Coventry branch, makes $22.5M loan

COVENTRY – The Washington Trust Co. last week celebrated the grand opening of its newest location in Coventry, and made a multimillion-dollar loan for...
WASHINGTON TRUST Bancorp Inc. is the parent company of The Washington Trust Co. based in Westerly. /COURTESY GREATER CITY PROVIDENCE/JEF NICKERSON

Washington Trust seeks to recoup $570K after suspected bank fraud

PROVIDENCE – In an age of cybercrimes and international hacking schemes, old-fashioned bank fraud seems somewhat outdated.But don’t tell that to the Washington Trust...
JOSEPH J. MARCAURELE, chairman and CEO of Washington Trust Bancorp Inc., the Westerly-based parent of The Washington Trust Co., will retire this winter. He will be succeeded by president and chief operating officer Edward O. "Ned" Handy III. / COURTESY WASHINGTON TRUST BANCORP

Washington Trust announces senior management promotions

WESTERLY – Following major news that its CEO and chief financial officer would retire this winter, Washington Trust Bancorp Inc. has announced several senior-management...
JEFFREY E. MOYNIHAN has been hired as a private mortgage banker at The Washington Trust Co. / COURTESY THE WASHINGTON TRUST CO.

Washington Trust adds Moynihan to private mortgage banking team

WESTERLY – The Washington Trust Co. looks to continue to bolster mortgage banking in the Massachusetts area and last week announced the hiring of...
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