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BANKING

WashTrust makes KBW honor roll

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WESTERLY – Washington Trust Bancorp Inc. – parent company of The Washington Trust Co. – was selected by Keefe Bruyette & Woods Inc. for its “2011 Bank Honor Roll.”

The financial analyst’s “honor roll” included 45 banks and thrifts from across the country.

To qualify, the financial institutions were required to have more than $500 million in assets and reported no annual loss per share before extraordinary items over the last 10 years.

In addition, banks needed to report net income per share in 2011, before extraordinary measures, that was equal to or greater than their highest net income per share over the last 10 years and consecutive increases in net income per share since 2009.

Of the nearly 400 companies screened, only 45 fell within the parameters. Washington Trust was the only Rhode Island bank to make the list.

“We are honored to be selected to the KBW Honor Roll for our 10-year performance,” said Joseph J. MarcAurele, Washington Trust chairman, president and CEO. “Washington Trust is a solid institution with a strong history, which has continued to grow and remain profitable during challenging economic times.”

According to the release, honor roll companies outperformed the KBW Bank Index and KBW Regional Banking Index between 2006 and 2011, which had compound annual growth rates of -19.6 percent and -13.2 percent over that period.

By comparison, the honor roll banks showed a -0.9 percent CAGR for their stock price over the period, a significantly better showing than all banks and better than the Standard & Poor’s 500 Index, which returned -2.4 percent for the time frame.

Washington Trust, Washington Trust Company, Banking, Rhode Island, Banks, Washington Trust Bancorp inc., KBW, Keefe Bruyette & Woods Inc.

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