(800) 475-2265
Washington Trust Newsroom
Washington Trust Bancorp, Inc. (NASDAQ: WASH), the publicly owned holding company of The Washington Trust Company, held its Annual Meeting of Shareholders on Tuesday at the Westerly Public Library, for the year ended December 31, 2016. Joseph J. MarcAurele, Washington Trust Chairman and Chief Executive Officer, presided over the business portion of the meeting. Edward O. “Ned” Handy, III, President and Chief Operating Officer, reviewed key highlights of 2016 and David V. Devault, Vice Chair, Secretary, and Chief Financial Officer, reviewed the Corporation’s 2016 performance and commented on results for the first quarter ended March 31, 2017, which were released on April 24th. Mark K.W. Gim, Senior Executive Vice President of Wealth Management and Treasurer, provided a strategic outlook for the remainder of 2017.
During the business portion of the meeting, four directors were elected to the Corporation’s board of directors for terms ending in 2020: John J. Bowen, Chancellor, President and Chief Executive Officer, Johnson & Wales University; Robert A. DiMuccio, CPA, President and Chief Executive Officer, Amica Mutual Insurance Company; H. Douglas Randall, III, Chief Executive Officer, Randall Realtors; and John F. Treanor, Retired President and Chief Operating Officer, The Washington Trust Company.
Shareholders also ratified the selection of KPMG, LLP to serve as the independent registered public accounting firm for the Corporation for the current fiscal year ending December 31, 2017, approved a non-binding resolution for compensation of the Corporation’s named executive officers, and approved a non-binding resolution to select the frequency of every one year for future shareholder advisory votes to approve the compensation of the Corporation’s named executive officers.
In a review of Washington Trust’s 2016 highlights, Edward O. “Ned” Handy, III noted that, “in the Bank’s 216th year of service, we had record earnings, loan and deposit levels, and eclipsed $6.1 billion in assets under administration.” He pointed to a number of initiatives that helped drive the company’s growth, including Washington Trust’s Rhode Island branch expansion, improved customer experience through technological enhancements, continued growth in burgeoning commercial markets, and a commitment to remain actively engaged and in support of the communities served by the Bank.
ABOUT WASHINGTON TRUST BANCORP, INC. Washington Trust Bancorp, Inc. is the parent of The Washington Trust Company, with $4.4 billion in assets as of March 31, 2017. Founded in 1800, Washington Trust is the oldest community bank in the nation, the largest state-chartered bank headquartered in Rhode Island and one of the Northeast’s premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, mortgage banking, personal banking and wealth management and trust services through its offices located in Rhode Island, Connecticut and Massachusetts. The Corporation’s common stock trades on NASDAQ under the symbol WASH. Investor information is available on the Corporation’s web site at www.washtrustbancorp.com.
Westerly, RI – The Washington Trust Company collected approximately 9,500 pounds, or more than 4.75 tons of peanut butter during the sixteenth annual Washington Trust Peanut Butter Drive to benefit the Rhode Island Community Food Bank and 15 local food pantries across Rhode Island and Southeastern Connecticut. Washington Trust has collected more than 120 tons of peanut butter since launching the drive in 2001.
“For sixteen years, our employees have partnered with area businesses, schools and community organizations to collect peanut butter for families in need,” explained Joseph MarcAurele, Washington Trust Chairman & CEO. “Peanut butter is a versatile superfood with a long shelf life and more than 30 essential vitamins and nutrients. One jar can make 15 sandwiches for a hungry family. That means to date, our annual peanut butter drive has helped make more than 3.5 million sandwiches for Rhode Island families,” adds MarcAurele, who also serves as President of the Board of Directors for the RI Community Food Bank.
Washington Trust employees were responsible for much of the collection effort, as were peanut butter collection bins located in each of the Bank’s 21 branches. The schools who collected the most peanut butter in 2016 included Burrillville Middle School, Monsignor Clarke, RI Philharmonic School, St. Philomena School and Wawaloam School. Allie’s Tack Shop, Christ Church of Westerly, E.B. Thomsen, Inc., Faith Bible Chapel, First SDB Church of Hopkinton, Kidds & Co., the North Kingstown Rotary, Servicemaster by Mason, Stop & Shop, Tockwotton on the Waterfront, Village House Nursing & Rehab and Westerly Hospital also contributed to the peanut butter drive.
Washington Trust donated peanut butter to the Rhode Island Community Food Bank as well as local food pantries including Comprehensive Community Action Program (CCAP), Exeter Food Pantry, Jonnycake Center of Peace Dale, Jonnycake Center of Westerly, New Hope Chapel Food Pantry, North Kingstown Food Pantry, Operation Stand Down Rhode Island, Pawcatuck Neighborhood Center, Providence Intown Churches Association, St. Matthew Trinity Lutheran Church Food Pantry, St. Patrick’s Food Closet, WARM Center of Westerly, The Welcome House of South County, West Bay Community Action and West Greenwich Food Pantry.
ABOUT WASHINGTON TRUST® Founded in 1800, Washington Trust is the oldest community bank in the nation and one of the Northeast’s premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, mortgage banking, personal banking and wealth management and trust services through its offices located in Rhode Island, Connecticut and Massachusetts. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ OMX®: WASH). Additional information on Washington Trust and its subsidiaries can be found at www.washtrust.com.
Westerly, RI – The Washington Trust Company was presented the Gold Award for Brand at the 2016 New England Financial Marketing Awards held last Thursday, May 12th at The Hyatt Regency in Newport, Rhode Island. The gold award was presented in recognition of Washington Trust’s comprehensive 2015 branding campaign.
As the nation’s oldest community bank, celebrating its 215th year in business in 2015, Washington Trust unveiled a new brand campaign to reach and attract a new generation of customers. The campaign highlighted Washington Trust’s comprehensive banking capabilities, strength and stability, local, five-star service and technological convenience through a multi-media strategy and refresh of the company logo.
“Washington Trust has a long, proud history and a strong brand, so our job was quite easy,” stated Elizabeth B. Eckel, senior vice president of marketing and investor relations. “We refreshed our 215 year-old brand by bringing back a 1970’s retro logo and developed an advertising campaign with a look and feel that would reach and appeal to a broader and younger audience.”
Washington Trust worked with Walsh & Associates of East Greenwich and Animus Studios of Riverside, both Rhode Island-based businesses, to develop the company’s new brand and multimedia advertising campaign.
The New England Financial Marketing Awards recognize excellence in the marketing of banks, credit unions and mortgage providers in Massachusetts, Connecticut, Vermont, Maine, Rhode Island and New Hampshire.
Westerly, RI - Washington Trust chairman and CEO Joseph MarcAurele, Washington Trust president and COO Edward Handy and Washington Trust senior vice president Dennis Algiere presented a $100,000 check to Amy Grzybowski, executive director of the Westerly Education Center, and Neil Steinberg, president and CEO of the Rhode Island Foundation, on behalf of the Washington Trust Charitable Foundation. The donation represents a multi-year commitment to support the Westerly Higher Education and Job Skills Center, which opened in January 2017.
"Because of Washington Trust's support of the Center, thousands of women and men in need of workforce and skills training will know a better future for themselves and their families as a result of the access to quality education provided to them," said Grzybowski. "We are truly grateful for the investment Washington Trust has made in their futures and ours."
“Washington Trust’s very generous commitment to the Center will support the growth of this important educational and skills training facility initiated by the Royce family,” said Steinberg. “Students are already attending the classes and training that will create the workforce necessary for manufacturers like Electric Boat to expand and thrive.” The Rhode Island Foundation accepted the donation on behalf of the charity that was created to support the project.
The Center is an innovative facility designed to bring together higher education, business, industry, and community partners to serve the workforce and community needs of southwestern Rhode Island and the State. The 34,500-square-foot facility will be the base for providing high-quality educational programs in key sectors to meet projected workforce growth in the region. The anchor tenant is the Community College of Rhode Island in partnership with General Dynamics Electric Boat.
The Washington Trust Charitable Foundation provides charitable grants to 501(c)3 organizations whose work benefits the communities served by the bank.
ABOUT WASHINGTON TRUST® Founded in 1800, Washington Trust is the oldest community bank in the nation and one of the Northeast’s premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, mortgage banking, personal banking and wealth management and trust services through its offices located in Rhode Island, Connecticut and Massachusetts. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ: WASH). Additional information on Washington Trust and its subsidiaries can be found at https://www.washtrust.com/.
PHOTO CAPTION (from left to right): Amy Grzybowski, executive director, Westerly Education Center, Edward Handy, Washington Trust president and COO, Joseph MarcAurele, Washington Trust chairman and CEO, Neil Steinberg, president and CEO of the Rhode Island Foundation and Dennis Algiere, Washington Trust senior vice president at the Westerly Higher Education and Job Skills Center.
Westerly, RI– The Washington Trust Company, in partnership with the Rhode Island Department of Environmental Management, will hold the second annual Washington Trust Statewide Beach Cleanup on Earth Day, Sunday, April 22, 2018, from 11 a.m. to 1 p.m. at eight beaches across Rhode Island – Charlestown Breachway and East Beach in Charlestown, East Matunuck beach in South Kingstown, Misquamicut beach in Westerly, Fred Benson Town Beach on Block Island and the Roger Wheeler, Salty Brine and Scarborough beaches in Narragansett. Join us as we bring together the Rhode Island community to ready our beaches for the summer season and preserve one of our State’s greatest resources.
2017 marked the first year of the Washington Trust Statewide Beach Cleanup, during which more than 100 volunteers collected more than 80 bags of trash.
All are welcome. Sign up now at: https://bit.ly/2oGUX8m
When: Sunday, April 22, 2018 (Earth Day) from 11 a.m. to 1 p.m., with a 10:45 a.m. check-in time. This event is rain or shine.
Where: The following Rhode Island beaches…
ABOUT WASHINGTON TRUST Founded in 1800, Washington Trust is the oldest community bank in the nation and one of the Northeast’s premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, mortgage banking, personal banking and wealth management and trust services through its offices located in Rhode Island, Connecticut and Massachusetts. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ: WASH). Additional information on Washington Trust and its subsidiaries can be found at https://www.washtrust.com/.
Westerly, RI – The Board of Directors of Washington Trust Bancorp, Inc., (NASDAQ: WASH), today announced Joseph J. MarcAurele will retire as Chairman and Chief Executive Officer effective March 2, 2018. MarcAurele will continue to serve as a member of Washington Trust’s Board of Directors. The Board also announced that David V. Devault, Vice Chair, Secretary and Chief Financial Officer, will retire effective January 31, 2018. The Board’s long-range leadership succession plan also includes the following executive appointments:
Today’s announcement reflects the culmination of a multi-year succession planning process.
“Washington Trust is a one-of-a-kind institution and I am truly honored to have led our 217+ year old company during a period of tremendous growth and profitability,” stated MarcAurele. “During my tenure I have been fortunate to work alongside a supportive Board of Directors, a talented management team and a dedicated group of employees. I would like to thank David Devault for his numerous contributions and unwavering commitment during his 30+ years of service with our company. I have worked closely with Ned for many years and am confident that he, Mark and Ron will uphold our company’s core values and lead Washington Trust to continued success in the years to come.”
“It has been an honor to have served Washington Trust for almost 31 years. Throughout my career, I have been fortunate to work with an outstanding group of banking professionals, and I am extremely proud of what we have accomplished together,” said Devault. “The company has always maintained a strong commitment to serve our customers, communities, shareholders and employees. I am confident that the new leadership team will position Washington Trust for continued success as a high-performing bank.”
“Washington Trust’s Board is extremely grateful for the contributions Joe and David have made to our company and the community,” stated Victor J. Orsinger, II, Lead Director of Washington Trust’s Board of Directors. “Joe’s strategic vision enabled Washington Trust to successfully expand our market presence and earn recognition as one of the nation’s most high-performing banks. David has been an integral part of Washington Trust’s success during his career, providing astute financial insight and guidance with the utmost integrity. We look forward to Joe’s continued contributions to our Board and wish both men well as they plan their retirements next year.”
ABOUT WASHINGTON TRUSTBANCORP, INC. Washington Trust Bancorp, Inc. is the parent of The Washington Trust Company, with $4.4 billion in assets as of June 30, 2017. Founded in 1800, Washington Trust is the oldest community bank in the nation, the largest state-chartered bank headquartered in Rhode Island and one of the Northeast’s premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, mortgage banking, personal banking and wealth management and trust services through its offices located in Rhode Island, Connecticut and Massachusetts. The Corporation’s common stock trades on NASDAQ under the symbol WASH. Investor information is available on the Corporation’s web site at www.washtrustbancorp.com.
Forward-Looking Statements This press release contains statements that are “forward-looking statements.” We may also make forward-looking statements in other documents we file with the SEC, in press releases and other written materials, and in oral statements made by our officers, directors or employees. You can identify forward-looking statements by the use of the words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “assume,” “outlook,” “will,” “should,” and other expressions that predict or indicate future events and trends and which do not relate to historical matters. You should not rely on forward-looking statements, because they involve known and unknown risks, uncertainties and other factors, some of which are beyond the control of Washington Trust. These risks, uncertainties and other factors may cause the actual results, performance or achievements of Washington Trust to be materially different from the anticipated future results, performance or achievements expressed or implied by the forward-looking statements. We assume no obligation to update any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events or other changes.
Westerly, RI– Washington Trust Bancorp, Inc. (NASDAQ: WASH) the publicly-owned holding company of The Washington Trust Company, today announced Ronald S. Ohsberg has been appointed Executive Vice President and Treasurer, and Mark K.W. Gim has been named Senior Executive Vice President, Wealth Management and Chief Strategy Officer. In these new positions, Ohsberg and Gim will serve as executive officers of both the corporation and the Bank.
Ohsberg, a Cranston, R.I. resident, joins Washington Trust from Linear Settlement Services, where he served as Executive Vice President, Finance for the past year. Prior to Linear, Ohsberg was employed at Citizens Bank for 12 years, leaving in 2016 as Executive Vice President, Corporate Controller and Chief Accounting Officer. One of his key responsibilities at Citizens was the execution of key financial matters related to Citizens Financial Group (NYSE: CFG) becoming a publicly-traded company in September 2014. The transaction is regarded as the largest commercial bank initial public offering (IPO) in U.S. history. Ohsberg also spent 12 years at FleetBoston Financial/Bank of America where he served as Senior Vice President, Director of Accounting and Financial Analysis, and, prior to that, served as Audit Manager at KPMG Peat Marwick. A Certified Public Accountant (CPA), Ohsberg holds B.S. degrees in accounting and finance, and an M.B.A. from the University of Rhode Island. He has served as a member of the Board of Trustees and Treasurer of the Scandinavian Home Nursing and Retirement Center.
In his new position at Washington Trust, Ohsberg will be responsible for the Treasury area, with oversight of balance sheet management strategies, interest rate risk management, liquidity and corporate budgeting.
Gim, a Barrington, R.I. resident, has been with Washington Trust since 1993 and has headed up Washington Trust Wealth Management since 2013. Under his leadership, Washington Trust Wealth Management has increased assets under administration from $4.8 billion to a record $6.1 billion at year-end 2016. During this time, he oversaw the company’s acquisition and integration of Halsey Associates, Inc., a New Haven, Connecticut-based Registered Investment Advisor (RIA). He has added new talent, technology, and a more comprehensive breadth of wealth management service offerings to enhance the client experience and position Washington Trust Wealth Management as a best-in-class wealth management service provider.
A magna cum laude graduate of Brown University, Gim earned a master's degree from the London School of Economics in London, England. He serves as President of the Rhode Island Free Clinic and past President of the Community College of Rhode Island Charitable Foundation. He is a board member of the Trinity Repertory Company, the Rhode Island Philharmonic & Music School, Rhode Island Public Radio, Providence Athenaeum, and The Wolf School. He also serves as Lecturer on the faculty of the Morin Center for Banking at the Boston University School of Law.
“The expansion of our leadership team is critical to Washington Trust’s continued growth,” stated Joseph J. MarcAurele, Washington Trust Chairman and CEO. “We’re fortunate to have a local professional, with Ron’s credentials, join our executive team. His extensive corporate accounting and financial reporting experience will be critical in helping us manage the corporation in today’s heavily regulated environment. In recent years, Mark has played a significant role in growing our Wealth Management division, which is a key business line and revenue driver for us. He has provided tremendous insight into our corporate strategic planning process and we look forward to his continued contributions and guidance.”
« Back
Media Inquiries Contact Elizabeth B. Eckel, SVP Marketing 23 Broad Street Westerly, RI 02891 (401) 348-1309
Send email
Phone: (800) 475-2265
Email: info@washtrust.com
Branch Locations
Routing Number: 011500858
Contact Us
Meet Our Team