Washington Trust Provides Financing For GBM Holdings, LLC

Washington Trust Commercial Lending Group recently provided financing to GBM Holdings, LLC, of Warwick, R.I. for the purchase of a 4,285 square foot office condominium at 117 Metro Blvd., Phase 1, Unit 1004 in Warwick, which is to be fully occupied by Gallo/Thomas Insurance.

GBM Holdings, LLC is the real estate holding company for Gallo/Thomas Insurance, which was founded by the late Thomas P. DiSanto Jr. in 1976. The company is an independent insurance agency which sells a full range of insurance products and services to individuals and businesses located primarily in the southern New England area. GBM Holdings, LLC and Gallo/Thomas Insurance are owned by Thomas J. DiSanto.

“The insurance industry has gone through considerable changes over the past few years, and has become highly competitive,” said John C. Warren, Washington Trust chairman and CEO. “The Gallo/Thomas insurance agency has endured decades of changes, and we wish them continued success in the years to come.”

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 .