Washington Trust reports record in-market deposits as 1st quarter earnings decline

WASHINGTON TRUST BANCORP INC. posted profits of $16.5 million in the first quarter of 2022 and a record amount of in-market deposits. / PBN FILE PHOTO/SCOTT KINGSLEY
WASHINGTON TRUST BANCORP INC. posted profits of $16.5 million in the first quarter of 2022 and a record amount of in-market deposits. / PBN FILE PHOTO/SCOTT KINGSLEY
WESTERLY – Washington Trust Bancorp Inc. continues to stake its claim in the Rhode Island market, boasting a quarterly record of $4.7 billion in-market deposits for the first quarter of 2022, the company reported on Monday. Despite the 17.7% growth of in-market deposits from a year ago, the Washington Trust Co. parent company saw its…

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