WESTERLY – American Banker, a financial services trade publication, last month named Washington Trust Bancorp the top performing midsized bank in New England and 34th in the nation.
The ranking, based on three-year return on average equity, shows that banks with assets of $2 billion to $10 billion have been more profitable than financial institutions of larger and smaller sizes, especially since the Dodd-Frank Act passed in 2010.
The newspaper looked at the finances of holding companies, banks and thrifts as of Dec. 31, 2015. Westerly-based Washington Trust reported an 11.8 percent three-year return on average equity, ranking No. 34 out of 217 financial institutions and best in New England.
Others New England midsized financial institutions include: