CONTACT: Elizabeth Eckel, SVP Marketing, 401-348-1309
DATE: May 16, 2006
Washington Trust To Open Second Warwick Branch
May 16, 2006 (Westerly, RI) . . . . The Washington Trust Company announced today the Bank's intention to open a new branch in Warwick, R.I. at 1473 Warwick Avenue, just north of Hoxsie Four Corners, near the Governor Francis Farms neighborhood. The branch is expected to open in the first half of 2007. This will be the Bank's second Warwick office and its eighteenth office overall.Washington Trust also recently announced plans to open a new branch at 1195 Oaklawn Avenue in Cranston, RI. That branch is also scheduled to open in the first half 2007. Both branches are subject to local, federal and state regulatory approvals.
"We've had tremendous growth in the Warwick area and this
branch is part of our plan to expand our footprint in the Greater
Providence market," said John C. Warren, chairman and CEO of
Washington Trust. "The branch is being built in a terrific
location, with great visibility and a traffic light for easy access.
It's convenient for thousands of residents and businesses in the
area and complements our other Warwick and Cranston locations."
"Washington Trust is a well respected company that has clearly proven to be a 'good neighbor' to Warwick residents and businesses," Warwick Mayor Scott Avedisian said. "With deep roots in Rhode Island, Washington Trust and its employees are enthusiastic and generous supporters of the community. We're pleased that they are planning to further expand their operations with a second branch in Warwick and wish them well with this project."
The new branch will be built on a parcel of land that was part of the former location of Barry's Nightclub. Washington Trust is purchasing approximately one acre of the northern part of the site. The 3,000 square foot branch will include three drive-up banking lanes and two ATMS (one drive-up and one walk-up). It will be a full-service branch with amenities such as flat-screen TVs in waiting areas, and an ADA compliant teller station.
The Washington Trust Company is the largest independent bank headquartered in Rhode Island. A state-chartered bank, Washington Trust offers a full range of financial services, including wealth management, through its offices located in Rhode Island, southeastern Connecticut and Massachusetts. Founded in 1800, the Bank is a subsidiary of Washington Trust Bancorp, Inc., whose common stock trades on The NASDAQ Stock Market® under the symbol WASH. Web site address: www.washtrust.com.
