NEW HAVEN, Conn. – The Washington Trust Co. is expanding in Connecticut, with the recent opening of a new commercial lending office in New Haven, according to a press release.
The new office compliments the neighboring, New Haven wealth trust management office, and aims to help the Westerly-based bank expand its reach beyond Rhode Island’s borders, the release stated.
“This expansion is vital to the Connecticut market as we believe there is growing demand for a bank like Washington Trust that offers a full line of deposit, lending, wealth management, and digital banking services, along with a high level of personal customer service,” CEO and Chairman Edward O. Handy III said in a statement.
Washington Trust has provided financing to Connecticut businesses throughout its 200-plus-year history, and has recently increased its commercial real estate and commercial and industrial loan portfolio in the New Haven and Hartford areas, teh release stated. In conjunction with the new lending office, the bank has named three new vice presidents to lead the Connecticut commercial lending arm, for a total of seven employees out of the New Haven lending office.
The news comes as the bank looks to open three more Rhode Island branches in 2023 for a total of 27 Rhode Island branches, PBN previously reported.
Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.
