Industry Leadership, Market Expansion & Business Line Growth
WESTERLY, R.I.--(BUSINESS WIRE)--
Washington Trust Bancorp, Inc. (NASDAQ Global Select; symbol:
WASH), parent company of The Washington Trust Company, today held its
Annual Meeting of Shareholders for the year ended December 31, 2012.Joseph J. MarcAurele, Washington Trust Chairman, President, and
Chief Executive Officer, and David V. Devault, Washington Trust Senior
Executive Vice President, Secretary, and Chief Financial Officer,
presided over the Meeting held at the Westerly Public Library.They
reviewed the Corporation’s 2012 performance and commented on financial
results for the first quarter ended March 31, 2013.
Joseph J. MarcAurele stated that the Corporation’s 2012 record
financial performance was attained through industry leadership, market
expansion and key business line growth. Noting, “Washington Trust is
regarded as one of the leading financial service companies locally,
regionally, and nationally, and has also been recognized as one of the
top-performing banks in the United States.”
David V. Devault reviewed the Corporation’s first quarter 2013
earnings, that were released yesterday, stating, “The Company’s core
business lines continued to perform well; we sawgood commercial
loan growth, a continuation of solid mortgage banking results, and an
increase in Wealth Management assets.”He added that asset
quality and capital levels are at very satisfactory levels and noted
that the Corporation had raised the dividend during the first quarter.
In his closing remarks, MarcAurele stated, “Washington Trust has
successfully managed our way through the economic downturn that has
plagued our nation for the past several years. Going forward, we will
continue to focus on growing the Company and helping our customers reach
their financial goals, while enhancing shareholder value."
During the business portion of the Meeting four members of the
Corporation's board of directors, Barry G. Hittner, Esq., Katherine W.
Hoxsie, CPA, Kathleen E. McKeough, and John C. Warren, were elected to
the board of directors for terms ending in 2016.
In other business, shareholders ratified the selection of KPMG LLP
to serve as the independent registered public accounting firm for the
Corporation for the current fiscal year ending December 31, 2013.Shareholders
also approved a non-binding resolution for compensation of the
Corporation’s named executive officers and the 2013 Stock Option and
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, Connecticut
and Massachusetts. The Corporation’s common stock trades on The NASDAQ
Global Select® Stock Market under the symbol WASH.Investor
information is available on the Corporation’s web site: www.washtrust.com.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20130423006673/en/
Washington Trust Bancorp, Inc.
Elizabeth B. Eckel, 401-348-1309
Vice President, Marketing and Investor Relations
Source: Washington Trust Bancorp, Inc.