Washington Trust named to Bank Honor Roll

WESTERLY – Washington Trust Bancorp last week provided $2.5 million in commercial financing to the Ronald McDonald House of Providence and was named to Keefe Bruyette & Woods Inc.’s 2015 Bank Honor Roll.
It was a busy week for the Westerly-based parent company of The Washington Trust Co. First, last Monday, Keefe Bruyette & Woods Inc. named the parent company to its list of superior performers for the fifth consecutive year. The company was selected from nearly 400 companies listed on the New York Stock Exchange and Nasdaq and was the only Rhode Island bank to make the list.
“We found the KBW Bank Honor Roll members have better-than-industry performance ratios and growth rates when compared to the publicly traded bank universe with total assets over $500 million,” said Melissa A. Roberts, KBW managing director of quantitative research. “In terms of stock price performance, Bank Honor Roll companies significantly outperformed the banking industry during the five-year period between 2010 and 2015.”
Joseph J. MarcAurele, Washington Trust chairman and CEO, in a statement said strength and consistency has guided the 215-year-old bank.
“It’s an honor to once again be recognized by KBW for our performance,” he added.
The following day, Washington Trust announced it had recently provided $2.5 million in commercial financing to the Ronald McDonald House of Providence for an expansion and renovation project for its family-supported facilities.
The organization, at 45 Gay St., was constructed in 1989 and includes 18 rooms with baths to accommodate families seeking care at local hospitals. The nonprofit provides temporary homes for families with children.
“We are excited to have Ronald McDonald House of Providence as a customer and to play a small role in helping our organization with its expansion,” said Robert R. Kent Jr., senior vice president and team leader of Washington Trust’s commercial banking group. “These additional rooms will help more families support their children who are seeking medical treatment in our area hospitals and we are proud to partner with Ronald McDonald House of Providence to be part of that effort.

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