Only Rhode Island Bank Recognized
WESTERLY, R.I.--(BUSINESS WIRE)--
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
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.
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
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
Vice President, Marketing and Investor Relations
Source: Washington Trust Bancorp, Inc.