Washington Trust Provides Financing for 1304 Washington Street, LLC

Washington Trust's Commercial Real Estate Group recently provided $2.8 million in financing to 1304 Washington Street, LLC of Pittsford, N.Y., for a newly constructed 11,326 square foot Kinney Drug Store located in Watertown, N.Y.

1304 Washington Street, LLC, managed by Robert C. Morgan, was formed for the purpose of owning the newly constructed commercial building which has been leased to Kinney Drugs. Kinney Drugs is one of the leading regional drug chains in the country.

“Kinney Drugs is a well established business in New York, offering quality pharmacy, health, and retail services,” said John C. Warren, Washington Trust chairman and CEO. “We wish Mr. Morgan well with the expansion into Watertown.”

Washington Trust's Commercial Real Estate Group provides commercial real estate mortgages for construction of, refinancing of, or purchasing investment real estate projects. Financing ranges in size from several hundred thousand dollars up to multi-million dollar projects. For more information, contact Julia Anne M. Slom, senior vice president, Commercial Real Estate Group, toll-free at 800-475-2265 or 401-348-1430.

The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., a $2.9 billion corporation headquartered in Westerly, Rhode Island. Founded in 1800, Washington Trust is the oldest community bank in the nation and is the largest independent bank headquartered in Rhode Island. A state-chartered bank, Washington Trust offers a full range of financial services, including business banking , personal banking , and wealth management and trust services through its offices located in Rhode Island, Southeastern Connecticut and Massachusetts. The Corporation's common stock trades on The NASDAQ Global Select® Stock Market under the symbol WASH. Web site address: www.washtrust.com .