Washington Trust Bancorp Reshuffles Board of Directors

Washington Trust Bancorp, Inc. (NASDAQ: WASH) has announced the appointment of Debra M. Paul and Angel Taveras, Esq. to its board of directors, effective March 1, 2024. This move comes as the company looks to enhance its leadership and expertise.

Ms. Paul, a former certified public accountant, brings extensive leadership, accounting, and auditing experience to the board. She has held significant positions in organizations such as Fellowship Health Resources, Inc. (FHR) and Women & Infants Hospital. Mr. Taveras, on the other hand, has a background in leadership and legal expertise, having served as the Mayor of the City of Providence from 2011 to 2015, and in various legal firms.

Edward O. Handy III, Washington Trust Chairman, and Chief Executive Officer, expressed his excitement about the new appointments, stating, "The depth and diversity of their professional experiences, skills, and community leadership will bring new perspectives and insight to our board."

Washington Trust Bancorp, Inc., with $7.2 billion in assets as of December 31, 2023, is recognized as the oldest community bank in the nation, the largest state-chartered bank headquartered in Rhode Island, and one of the premier financial services companies in the Northeast. The bank offers a wide range of commercial banking, mortgage banking, personal banking, and wealth management services through its offices in Rhode Island, Connecticut, and Massachusetts, as well as a full suite of convenient digital tools.

Following this announcement, the company's shares have moved -4.6%, and are now trading at a price of $26.27.

The company's full 8-K submission is available here.

2018 2019 2020 2021 2022 2023
Revenue (k) $176,407 $197,663 $169,936 $157,995 $194,465 $286,474
Revenue Growth n/a 12.05% -14.03% -7.03% 23.08% 47.31%
Interest Income (k) $132,290 $133,414 $127,444 $141,435 $155,990 $145,786
Operating Margins 49% 45% 52% 62% 47% 23%
Net Margins 39% 35% 41% 49% 37% 18%
Net Income (k) $68,432 $69,118 $69,829 $76,870 $71,681 $51,802
Depreciation & Amort. (k) $4,261 $4,234 $914 $890 $860 $847
Earnings Per Share $3.93 $3.96 $4.0 $4.39 $4.11 $3.0
EPS Growth n/a 0.76% 1.01% 9.75% -6.38% -27.01%
Diluted Shares (k) 17,385 17,436 17,360 17,455 17,381 17,041
Free Cash Flow (k) $78,902 $70,303 $33,072 $97,322 $106,867 $55,275
Capital Expenditures $3,974 $3,132 $3,406 $3,490 $6,139 $5,839
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