WESTERLY – The Washington Trust Co. has been recognized as Rhode Island’s Best-In-State Bank for 2025 by Forbes, the bank announced on June 24.
This marks the seventh consecutive year the bank has appeared on the list, and the third consecutive year that it has been ranked No. 1, the bank said.
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The annual list, compiled in partnership with market research firm Statista, rates financial institutions based on customer satisfaction, trust, fees, digital services and financial advice, according to the bank.
“We are deeply honored to be named Rhode Island’s Best-In-State Bank again this year,” said Edward O. “Ned” Handy III, Washington Trust chairman and CEO. “This recognition reflects the bank’s two and a quarter centuries of unwavering commitment to delivering exceptional banking experiences, fostering trust and supporting the financial well-being of our customers and communities. By combining innovative technology for convenience and accessibility, with the personalized service of our dedicated team, we strive to meet the evolving needs of those we serve. We thank our employees for their hard work, and our customers for their continued loyalty that has endured for 225 years.”
Meanwhile, Bank Rhode Island took second place for Best-In-State Bank in Rhode Island behind Washington Trust. In Massachusetts, Swansea-based BayCoast Bank took third in terms of Best-In-State. The bank has five locations in Rhode Island.
On Forbes’ Best-in-State Credit Union list, Navigant Credit Union was ranked No. 1 in Rhode Island, followed by Coastal1 Credit Union. No credit unions based in Bristol County, Mass., made the list.
Forbes’ 2025 ranking methodology included surveys of more than 26,000 U.S. consumers, assessing banks on criteria such as customer service, trustworthiness, accessibility and transparency.
Matthew McNulty is a PBN staff writer. He can be reached at McNulty@PBN.com or on X at @MattMcNultyNYC.
