Washington Trust Announces Leadership Changes

WESTERLY, R.I., December 15, 2022 - The Board of Directors of Washington Trust Bancorp, Inc. (NASDAQ: WASH) today announced Mark K.W. Gim will retire as President and Chief Operating Officer, effective with the Corporation’s 2023 Annual Meeting of Shareholders in April 2023. The Board also announced that Gim was elected to the Board of Directors of Washington Trust Bancorp, Inc. and its subsidiary bank, The Washington Trust Company, effective immediately. Gim will serve on both boards until the 2023 Annual Meeting, at which time he will be subject to reelection by shareholders.

“I look forward to enjoying an active retirement with family, knowing I leave Washington Trust in the hands of a strong leadership team,” stated Gim. “It has been a privilege to have been part of Washington Trust and its tremendous growth and positive impact on the community during my 30-year career. I am very excited to continue to be involved in the Corporation in my new role as member of the Board.”

“Washington Trust’s Board is extremely grateful for Mark’s contributions to our corporation and the community,” stated Kathleen E. McKeough, Lead Director of Washington Trust’s Board of Directors. “Mark’s strategic vision enabled Washington Trust to successfully expand our market presence and earn recognition as one of the nation’s ‘Best Banks to Work For.’ We look forward to Mark’s continued contributions on our Board and wish him well as he plans his retirement next year.”

“Mark has been a dedicated Washington Trust employee and a key member of our leadership team for almost three decades,” stated Edward O. “Ned” Handy III, Washington Trust Chairman and Chief Executive Officer. “During his tenure, Mark guided our strategic planning process and oversaw the successful growth and regional expansion of our retail, wealth management and mortgage divisions. It has truly been a pleasure to work with him over the years and I look forward to his continued guidance as a member of our Board.”

Mary E. Noons, who currently serves as Executive Vice President, Chief Retail Lending Officer, was promoted to Senior Executive Vice President, effective immediately, and will be appointed President and Chief Operating Officer, upon Gim’s retirement in April 2023.

“Mary has played a key role in the Washington Trust’s record mortgage origination, revenue growth and regional expansion, which has contributed significantly to the Corporation’s continued growth, profitability, and success,” stated Handy, Washington Trust Chairman and Chief Executive Officer. “Mary is a proven leader and a strategic thinker with a passion for service excellence, process improvement, operational efficiency, and enhancing the customer experience. I look forward to working alongside her.”

The Corporation also announced that it is conducting an executive search to fill the Chief Retail Lending Officer position. “This is a critical role, and we plan to work diligently to identify a strong candidate with the background and skills necessary for the continued growth and success of our Retail Lending Division,” stated Handy.

Washington Trust Bancorp, Inc. is the parent of The Washington Trust Company. 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 website at https://ir.washtrust.com.