Bank holding company offering banking and financial services through its subsidiary, The Washington Trust Company of Westerly, primarily in Rhode Island and southeastern Connecticut.
Washington Trust Bancorp, Inc. functions as a prominent bank holding company overseeing The Washington Trust Company of Westerly, delivering a comprehensive array of banking and financial services to both individuals and businesses. Established in 1800 and headquartered in Westerly, Rhode Island, the company operates through two primary segments: Commercial Banking and Wealth Management Services.
The Commercial Banking segment of Washington Trust Bancorp provides a diverse range of lending products tailored to meet the needs of commercial enterprises and retail customers. This includes commercial real estate loans, commercial and industrial loans, residential real estate loans, and consumer loans such as home equity lines of credit and personal installment loans. The segment also offers a variety of deposit accounts including demand deposits, savings accounts, money market accounts, and retirement deposit accounts, complemented by a suite of banking services such as debit card facilities, ATMs, telephone banking, internet banking, and mobile banking.
The Wealth Management Services segment of Washington Trust Bancorp specializes in providing comprehensive investment management, financial planning, and personal trust and estate services. This includes acting as trustee, custodian, and guardian, as well as managing the settlement of decedents' estates and offering institutional trust services like custody and fiduciary services. This segment serves a broad spectrum of clients, ranging from individual investors seeking personalized wealth management solutions to institutional entities requiring sophisticated trust and custody services. Additionally, Washington Trust Bancorp operates as a licensed broker-dealer and offers financial products such as variable annuities and college savings plans, further enhancing its role as a full-service financial institution committed to meeting the diverse needs of its clientele.