WESTERLY, R.I.--(BUSINESS WIRE)--
Washington Trust Bancorp, Inc. (NASDAQ:WASH), the publicly-owned
holding company of The Washington Trust Company, headquartered in
Westerly, R.I., has decided to delay its third quarter earnings
release and conference call previously scheduled for Monday, October
The sole reason for the postponement is that the Corporation is
currently reviewing the accounting treatment and financial statement
presentation relating to certain investment portfolio transactions
conducted in April 2007. These transactions were conducted in
connection with plans related to the early adoption of Statement of
Financial Accounting Standards No. 159, "The Fair Value Option for
Financial Assets and Liabilities - Including an amendment to FASB No.
115", which the Corporation intended to implement at the time. The
Corporation subsequently elected not to proceed with the early
adoption of this accounting pronouncement. We believe that the
resolution of this matter will not have a material impact on net
income for the three-month period ended September 30, 2007.
We currently anticipate that the third quarter earnings release
will take place no later than Wednesday, October 31, 2007.
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Washington Trust Bancorp, Inc. is the publicly-owned holding
company of The Washington Trust Company, a Rhode Island-chartered bank
founded in 1800. Washington Trust offers personal banking, business
banking and wealth management and trust services, through its offices
in Rhode Island, Massachusetts and southeastern Connecticut.
Washington Trust Bancorp, Inc.'s common stock trades on The Nasdaq
Global Market(R) under the symbol WASH. Investor information is
available on the Corporation's web site: www.washtrust.com.
Source: Washington Trust Bancorp, Inc.