Washington Trust Co. - Providence Business News

Must R.I. give Citizens what it wants?

Financial Services 05/24/2024

The 11th-hour budget amendment submitted by Gov. Daniel J. McKee asking to overhaul how Rhode Island-based banks are taxed had some questioning whether the...

WASHINGTON TRUST BANCORP Inc., the parent company of Washington Trust Co., reports a net income of $10.9 million in the first quarter of 2024, down 14.8% from the same period a year ago. / PBN FILE PHOTO/SCOTT KINGSLEY

Washington Trust reports $10.9M profit in Q1, down 14.8%

Economic Activity 04/22/2024

WESTERLY – Washington Trust Bancorp Inc., the parent company of The Washington Trust Co., on Monday reported a net income of $10.9 million in...

NEW DIGS: Bank Rhode Island recently opened this standalone branch on Oaklawn Avenue in Cranston.  COURTESY BANK RHODE ISLAND/ ARTISTIC IMAGES

Branching out: In digital age, why are R.I. banks building more...

Cover Story 10/13/2023

No one would blame Jack Murphy if he’s feeling a little under siege lately. As CEO and president of BankNewport, Murphy considers Aquidneck Island his...

WORKING TOGETHER: Panelists discuss the ways government and businesses in Rhode Island can work hand in hand to increase access to funds and develop a larger talent pool for various industries during a virtual conversation moderated by PBN Editor Michael Mello, center, and Mark S. Murphy, top left. Clockwise from the top middle are: Eric M. Shorr, Michael E. McKelvy, Edward O. “Ned” Handy III, Marcela Betancur, Chris Parisi and Betty Robson.

Call to arms for government, businesses

Coronavirus 11/26/2021

On the occasion of Providence Business News’ 35th anniversary, six business and community leaders joined in a virtual discussion on Rhode Island’s economy –...

CASH FLOW: Russell Morrill of Westerly uses an ATM at The Washington Trust Co. branch in Westerly recently. Banks and credit unions are expecting to see a decline in the size of deposits as the COVID-19 crisis passes. / PBN PHOTO/ELIZABETH GRAHAM

As new deposits slow, bank strategies evolve

Economic Activity 06/11/2021

The billions of dollars doled out in forgivable small-business loans and personal stimulus checks made their way to recipients through their bank accounts. The result:...

ROLLING WITH THE PUNCHES: Richard “Rippy” Serra, owner of Rippy’s Liquor and Marketplace in Charlestown, and office manager Donna McAdams roll coins brought in by customers. In an effort to combat the national coin shortage, Serra offers free coin rolling to customers to exchange their coins for dollar bills. / PBN PHOTO/ELIZABETH GRAHAM

For some businesses, coin shortage a test of their mettle

Coronavirus 09/11/2020

Rolling $800 in loose change into individual paper coin wrappers is not typically a service offered at Rippy’s Liquor & Marketplace. But amid a...

Local lenders report slow start to Main Street Lending Program

Financial Services 08/06/2020

PROVIDENCE – If the outpouring of applications for the Paycheck Protection Program amounted to a flood initial interest in the new Main Street Lending...

Washington Trust posts $69M profit in 2019

Financial Services 01/27/2020

WESTERLY – Washington Trust Bancorp Inc., the parent of Westerly-based The Washington Trust Co., posted a $69.1 million profit in 2019, the company reported...

MORE AFFORDABILITY: Rhode Island Association of Realtors President Shannon Buss, bracketed by books that have been key to her real estate career, says three consecutive interest-rate cuts by the Fed haven’t led to new homebuyers entering the market, but they have helped buyers who are already looking to afford more in a house. / PBN PHOTO/MICHAEL SALERNO

Three Fed rate cuts in 2019 spur more home-loan activity

Financial Services 12/06/2019

Three interest-rate cuts this year by the Federal Reserve have encouraged homeowners to seek out refinancing of existing mortgages and created a robust market...