• Washington Trust Bancorp, Inc.
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  • Washington Trust Awarded 'Best Annual Report' By NAIC
    Company Release - 12/01/2004 10:17

    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, lifetime investors.

    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 www.washtrust.com.

        CONTACT: Washington Trust Bancorp, Inc.
                 Elizabeth B. Eckel, 401-348-1309
        SOURCE: Washington Trust Bancorp, Inc.