Washington Trust Bancorp, Inc. · Westerly, RI United States ·(NASDAQ (GS): WASH)
Company Description
Phone: 401-348-1200
Fax: 401-348-1407
Toll Free: 800-475-2265
View Washington Trust Bancorp, Inc. Locations On A US Map
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This link will open in a new window Without seeming naive, Washington Trust Bancorp can utter Washington and trust in the same breath. The firm owns The Washington Trust Company, one of the oldest banks in Rhode Island. The bank operates more than 15 branches in the state, as well as in southeastern Connecticut. The bank offers commercial loans and mortgages (some 40% of the loan portfolio) and residential mortgages (also about 40%), as well as consumer and other loans. Its deposit products include checking, money market, and savings accounts; CDs; and IRAs. The bank also provides trust and investment management services. It was originally chartered in 1800. To read the full description, subscribe now.
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Key Washington Trust Bancorp, Inc. Financials
| Company Type | Public - NASDAQ (GS): WASH Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $106.0 |
| 2008 Employees | 483 |
Washington Trust Bancorp, Inc. Executives
42 executives listed for Washington Trust Bancorp, Inc.'s Westerly, RI location.
| Title | Name & Bio | Contact |
| Chairman and CEO, Washington Trust Bancorp and The Washington Trust Company | John Warren | Network |
| Director; President and COO, The Washington Trust Company | Joseph MarcAurele | Network |
| President, COO, and Director; President and COO, The Washington Trust Company | John Treanor | Network |
Competition
Competitive Landscape for Washington Trust Bancorp, Inc.
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Washington Trust Bancorp, Inc. Competitors
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