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Washington Trust Provides Commercial Financing and Banking Services to Cardi's Furniture

WESTERLY, R.I., Sept. 24, 2014 (GLOBE NEWSWIRE) -- The Washington Trust Company recently provided commercial financing to Cardi's Furniture. Washington Trust will also provide cash management and other banking services for Cardi's.

"The Washington Trust – Cardi's relationship is a natural fit: two successful Rhode Island-based companies both committed to giving back to the communities within our home state," stated Joseph J. MarcAurele, Washington Trust Chairman and Chief Executive Officer. "Cardi's was built on hard work and dedication to customer services, the same guiding principles that have been Washington Trust's hallmark for more than two centuries."

"It's great to be working with a Rhode Island Bank with Rhode Island Bankers," said NiRoPe (Nick, Ron & Pete Cardi). "Washington Trust is the gold standard."

Cardi's first opened as a Cranston, RI-based general store in 1928. Today, Cardi's have six furniture stores, eleven mattress stores and one furniture clearance location across Rhode Island and Massachusetts. Cardi's delivers to customers throughout New England including the Cape, Islands, Connecticut, Vermont, New Hampshire, Maine and New York including New York City.

Washington Trust's Commercial Banking Group provides multi-million financing to leading businesses, manufacturers, hospitals, and educational institutions throughout the Northeast. We offer a full line of commercial and industrial lending services, including business lines of credit, term loans, international banking services, as well as comprehensive cash management services and bank-at-work conveniences. Our team of experienced professionals are dedicated to providing customized, comprehensive financing and personalized services. For more information, contact Joseph M. Confessore, Senior Vice President and Team Leader, at 401-348-1439, or 1-800-475-2265 ext.1439, or jmconfessore@washtrust.com.

ABOUT CARDI'S FURNITURE

Cardi's Furniture is a third-generation family owned and operated furniture retailer operating 19 retail showrooms in Rhode Island, Massachusetts, and Cape Cod. Commonly (and locally) known as "NiRoPe" Nick, Ron, & Peter Cardi have expanded the business, which was started by their Grandmother, Rosa Cardi, passed down to their father Nicholas Cardi Sr. While retailing furniture is the primary function of Cardi's Furniture, it's also no secret that they are extremely active in the community. From supporting local charitable, health, and non-profit organizations, promoting local arts and providing opportunities to showcase local talent, working extensively with Ronald McDonald House of Providence, Meeting Street, US Marines Toys for Tots, ESGR & Operation Stand Down RI and so much more. Cardi's complete history and information can be found at http://www.cardis.com/main/about.php.

ABOUT WASHINGTON TRUST

Founded in 1800, Washington Trust is one of New England's premier financial services companies, providing mortgage banking, commercial banking, small business banking, personal banking, and wealth management and trust services to individuals and institutions through its offices located in Rhode Island, Connecticut and Massachusetts. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (Nasdaq:WASH). Web site address: www.washtrust.com.

CONTACT: Anthony Nunes Marketing Department 401.348.1657 ajnunes@washtrust.com

Source:The Washington Trust Company