#Rhode Island #Washington Trust #Community Banking

Washington Trust: A Longstanding Legacy in Banking

On August 22, 2025, Washington Trust Company, recognized as the oldest community bank in the United States, proudly celebrates its 225th anniversary. Established in 1800 in Westerly, Rhode Island, this esteemed bank has played a crucial role in the financial landscape of New England, serving the needs of families and businesses alike.

A Historical Overview

Founded by a group of forward-thinking entrepreneurs, Washington Trust emerged at a time when Rhode Island's population was just beginning to grow, showcasing a deep commitment to the local farming and fishing communities that laid the foundation for its operations. The name Washington Trust pays homage to George Washington, reflecting the bank's enduring values of trust and service. Since its inception, it has witnessed remarkable changes across the landscape of finance and the region, adapting to meet the evolving needs of its customers.

Notably, Washington Trust is recognized for being the first bank in the United States to print a likeness of George Washington on its currency. Over the years, it has developed a rich legacy full of significant milestones, including being the first bank to open a branch office in Hope Valley and the installation of the first-ever drive-up teller window in the 1960s. Today, the bank employs over 650 individuals and operates across Rhode Island, Connecticut, and Massachusetts.

Milestones in Banking History

• - 1800: Washington National Bank is chartered in Westerly, RI
• - 1839: Bank's capital reaches $150,000
• - 1854: Introduction of the first savings department
• - 1904: Restructuring as a state-chartered bank
• - 1925: Completion of the main office at 23 Broad Street
• - 1984: The bank begins trading on NASDAQ under the ticker $WASH
• - 2000: The bank celebrates its 200th birthday
• - 2025: A monumental 225th anniversary marked by ringing the Nasdaq Opening Bell in New York City

Washington Trust has also maintained its independence throughout various financial upheavals that have led many institutions to merge or fold. This steadfast commitment to remaining a community-oriented bank has been a source of pride for Rhode Island, creating a stable financial environment for its customers.

Commitment to Community

With a strong focus on building community relationships, Washington Trust dedicates over $1 million annually to local nonprofits, investing in initiatives that foster financial wellness, housing, and family services. The bank encourages homeownership and generational wealth, recognizing its responsibility to uplift the community it serves. Each year, employees contribute more than 8,000 hours in volunteer service to local organizations, strengthening ties within the region.

Anniversary Celebration

To honor its legacy, Washington Trust has planned a series of events for its 225th anniversary, including a grand celebration on August 22. Chairman and CEO Edward O.