WESTERLY, R.I.--(BUSINESS WIRE)--Dec. 1, 2004--The 2003 annual
report to shareholders from Washington Trust Bancorp, Inc., (Nasdaq
National Market; symbol: WASH), parent company of The Washington Trust
Company, has been selected as the Best in the Banking Industry in the
prestigious 2004 NAIC Nicholson Awards competition.
More than 400 volunteers from the National Association of
Investors Corp. (NAIC), the nonprofit investment-education
organization that sponsors the annual award, selected the winning
annual report after evaluating hundreds from an individual investor's
perspective. All annual reports were judged against similar-sized
companies within their respective industries. Washington Trust
Bancorp, Inc. earned top honors in the category of Banks $5 billion in
assets and under.
"We are honored to receive this award from the NAIC," said John C.
Warren, Washington Trust Chairman and Chief Executive Officer. "The
NAIC is considered one of the most prestigious organizations for
investment clubs and individual investors in the United States."
The theme of Washington Trust's 2003 annual report was "A Winning
Team." The report featured Bank employees who contributed to the
Bank's successful 2003 performance, as well as quotes by employees on
the definition of teamwork and success. The report was created in
conjunction with the Bank's advertising agency, Walsh & Associates of
East Greenwich, R.I.
Now in its 27th year, NAIC's Nicholson Awards program encourages
publicly traded companies to produce clearer, more readable annual
reports. Reports are judged on financial reporting, content and
design. A complete list of the 2004 Nicholson Award winners, organized
by industry, is available at http://www.better-investingnewsroom.org/.
NAIC is a national, nonprofit organization of investment clubs and
individual investors, based in Madison Heights, Mich. Founded in 1951,
NAIC is dedicated to providing a sound program of investment education
and information to help its members become successful long-term,
Washington Trust Bancorp, Inc. is the parent company of The
Washington Trust Company, a Rhode Island chartered bank founded in
1800. The Bank offers a full range of financial services, including
trust and investment management, through its offices in Rhode Island
and southeastern Connecticut. Washington Trust Bancorp, Inc.'s common
stock trades on The NASDAQ Stock Market(R) under the symbol WASH.
Investment information about the Corporation is available at
CONTACT: Washington Trust Bancorp, Inc.
Elizabeth B. Eckel, 401-348-1309
SOURCE: Washington Trust Bancorp, Inc.