Only Rhode Island Bank Recognized
WESTERLY, R.I.--(BUSINESS WIRE)-- Washington Trust Bancorp, Inc., the parent company of The Washington Trust Company, announced that it has once again been selected by Bank Director 2012 Annual Bank Performance Scorecard, as one of the top banks in the United States. The scoring was based on 2011 performance and Washington Trust was ranked 42nd out of 195 financial institutions in the $1 billion to $5 billion category. Washington Trust was also selected in 2011 by Bank Director for its 2010 performance. In both years, Washington Trust was the only Rhode Island bank to earn this recognition.
The scorecard is a ranking of publicly owned U.S. banks and thrifts that are listed on the NASDAQ OMX and NYSE EURONEXT stock exchanges. The 2012 Bank Performance Scorecard uses five key metrics that measure profitability (core return on average assets and core return on average equity); capital strength (ratio of tangible common equity to tangible assets); and asset quality (ratio of nonperforming assets to loans and real estate owned, and the ratio of net charge offs to average loans).
“Washington Trust has a solid track record and we are proud to be recognized once again by Bank Director for our performance,” said Joseph J. MarcAurele, Chairman, President and CEO of Washington Trust.
In recent years, Washington Trust was named as one of top 25 small-cap institutions in the United States by Sandler O’Neill + Partners “2011 Bank and Thrift Sm-All-Stars” and was selected to the “2011 Bank Honor Roll” of superior performers by Keefe Bruyette & Woods, Inc.
Washington Trust Bancorp, Inc., is the parent of The Washington Trust Company, a state-chartered bank headquartered in Westerly, Rhode Island. Founded in 1800, Washington Trust is the oldest community bank in the nation and is the largest independent bank headquartered in Rhode Island. Washington Trust offers a full range of financial services, including commercial banking, small business banking, personal banking, and wealth management and trust services through its offices located in Rhode Island, southeastern Connecticut and eastern Massachusetts. The Corporation’s common stock trades on The NASDAQ Global Select® Stock Marketunder the symbol WASH. Investor information is available on the Corporation’s web site: www.washtrust.com.
Washington Trust Bancorp, Inc.
Elizabeth B. Eckel, 401-348-1309
Senior Vice President, Marketing and Investor Relations
Source: Washington Trust Bancorp, Inc.