Washington Trust Provides Financing For Matunuck Beach Properties, Inc.

Washington Trust's Commercial Lending Group recently provided $1.6 million in financing to Matunuck Beach Properties, Inc., of South Kingstown, R.I., for upgrades to property that is leased to seasonal beach cottage owners in Matunuck, known as Roy Carpenter's Beach.

Matunuck Beach Properties have been owned by Nancy Thoresen and her children Christa Thoresen and Robert Thoresen, for generations. Matunuck Beach Properties leases the land to the private owners of the 377 beach cottages.

“Washington Trust welcomes the Thoresen's Matunuck Beach Properties business as new customers,” said John C. Warren, Washington Trust chairman and CEO. “We wish them continued success with their beach properties.”

Washington Trust's Commercial Lending Group offers a full venue of credit and cash management products. For more information, contact Russell W. Hahn, senior vice president, Commercial Lending Group, at 401-654-4841.

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 .