Forbes Recognizes Washington Trust as Best Bank in Rhode Island for 2025

Washington Trust Earns Recognition as Best-In-State Bank



In an impressive display of excellence, Washington Trust has been honored as Rhode Island's Best-In-State Bank for 2025 by Forbes. This recognition marks a significant achievement, reflecting a continued commitment to outstanding service and innovative banking solutions. Notably, this year marks the seventh consecutive time the bank has secured a spot on this prestigious list, with three of those years being at the top position.

The annual Forbes Best-In-State Banks list, which is compiled in collaboration with Statista, utilizes in-depth customer surveys to evaluate financial institutions across various criteria. These criteria include overall customer satisfaction, trustworthiness, fee structures, digital services, and financial advisory quality. A total of 26,000 U.S. consumers participated in this year’s assessment, highlighting the immense trust and confidence observed in Washington Trust's banking practices.

Edward O. "Ned" Handy III, the Chairman and CEO of Washington Trust, expressed gratitude for this esteemed recognition. He stated, “We are deeply honored to be named Rhode Island's Best-In-State Bank again this year. This recognition reflects the Bank's two and a quarter centuries of unwavering commitment to delivering exceptional banking experiences.” He emphasized the importance of the bank's dedicated team and the vital relationships it has cultivated with customers over the years.

Washington Trust emphasizes its role as a community-centric institution. Founded in 1800, it holds the title of being the oldest community bank in the nation, serving Rhode Islanders and New England residents for over 225 years. The bank's broad spectrum of services includes commercial banking, mortgage banking, personal banking, and wealth management, tailored to assist individuals and businesses in their financial endeavors.

The bank's success is attributed to its commitment to blending traditional banking values with modern technology. Providing innovative digital banking solutions while maintaining personal touch has been key to Washington Trust's sustained excellence. The bank's dedication to ease of accessibility enables clients to manage their finances conveniently, resonating well with today's tech-savvy consumers. Handy recognized the synergy that comes from pairing innovative technology with the personalized service provided by well-trained professionals.

Competitors in the banking sector have faced challenges, particularly in adapting to evolving customer expectations. Washington Trust's proactive engagement with its customers through surveys and feedback mechanisms has allowed it to stay ahead in the competitive field, ensuring continuous improvement and responsiveness to client needs. The bank’s established trust underscores its role as a reliable partner in financial matters, embodied in its transparency and dedication to fostering community relationships.

In the past 225 years, Washington Trust's unwavering spirit of community support has remained steadfast. This commitment extends beyond just providing banking services. The bank actively participates in local charitable initiatives, contributing to economic development and creating meaningful relationships within the regions it serves. That initial vision stems from a simple yet profound principle: to improve the financial lives of their customers coupled with a promise to uphold their well-being.

Washington Trust’s continuous recognition by Forbes is not merely a summary of past successes; it symbolizes its active pursuit of excellence in the banking sector and a reinvigorated approach to enhancing customer satisfaction. As they move forward, the bank is poised to maintain its status as a leader in Rhode Island's financial services, demonstrating resilience and adaptability to meet the challenges of a changing economic landscape.

In conclusion, Washington Trust remains steadfast in its mission to support the financial well-being of the communities it serves while staying true to its foundational values. The accolades received from Forbes not only honor the bank but also reinforce its commitment to service excellence and community involvement, ensuring it continues to thrive for many more years to come.

Topics Financial Services & Investing)

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