The Washington Trust Company, of Westerly
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Data as of · sourced from FFIEC call reports. How we update
The Washington Trust Company, of Westerly is an FDIC-insured commercial bank headquartered in Westerly, RI, established in 1800 (FDIC certificate 23623), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $6.55B, down 2.9% from Q2 2025, the 2nd largest of 5 banks headquartered in Rhode Island. Its CET1 capital ratio was 12.22% at Q2 2026, above regulatory requirements.
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 23623
- Headquarters
- Westerly, RI
- Established
- 1800
- Total assets, Q2 2026
- $6.55B
- Assets vs Q2 2025
- -2.9%
- CET1 ratio, Q2 2026
- 12.22%
- Domestic offices
- 30 FDIC institution directory, current count
- Routing number
- 011500858
- Latest call report
- Q2 2026, FFIEC 041 · The Washington Trust Company, of Westerly call report
- Holding company
- WASHINGTON TRUST BANCORP, INC.
- Asset rank in state
- 2nd of 5 in Rhode Island
The Washington Trust Company, of Westerly, based in Westerly, Rhode Island, reported $6.6 billion in assets at June 30, 2026, down 2.9% from a year earlier. It keeps 2.73 cents of net interest income on every dollar of earning assets, lower than about 9 in 10 of the 880 banks with $1 billion to $10 billion in assets (median 3.71 cents). It also funds 8.92% of its assets with Tier 1 capital, lower than about 9 in 10 banks its size (median 10.49%).
Loans and deposits moved in opposite directions: over the year loans fell 0.8% and deposits rose 6.3%. The non-owner-occupied commercial real estate book ($1.4 billion) is worsening: 2.01% of it is past due or on nonaccrual, up from 0.27% a year earlier. Concentration is the risk to watch: it holds commercial real estate loans worth 3.3 times its capital, higher than about three-quarters of banks its size (median 2.2 times).
As of June 30, 2026, The Washington Trust Company, of Westerly reported a CET1 capital ratio of 12.22%, a return on assets of 1.00%, a nonperforming-loan ratio of 0.78% and a Texas ratio of 7.33%. The figures come from its call report filed with the FFIEC.
The Washington Trust Company, of Westerly ranks as the 2nd largest of the 5 banks based in Rhode Island, by total assets at Q2 2026. Between Q1 2026 and Q2 2026, its total assets rose 1.4% to $6.55B, loans rose 1.8% and deposits rose 3.7%. 1-4 family residential loans made up 46.4% of its total loans on June 30, 2026, its largest category; next came non-owner-occupied commercial real estate loans at 28.1%. The FDIC Summary of Deposits lists 29 offices for it, in 20 cities across 2 states; its Westerly 3 offices book 39% of its branch deposits. Judged on its Q2 2026 call report, The Washington Trust Company, of Westerly meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 23 Broad St, Westerly, RI 02891
- County
- Washington
- Metro Area
- Providence-Warwick, RI-MA
- Charter
- Commercial bank, state charter, Fed non-member, FDIC-supervised
- Primary Regulator
- FDIC
- FDIC Region
- New York (Region 2)
- Federal Reserve member
- No
- Federal Reserve district
- District 1, Boston
- Fiduciary (trust) powers
- Full trust powers granted
- Call Report form
- FFIEC 041
- Established
- January 1, 1800
- Former names
- The Washington Trust Company, of Westerly (2014)
- Domestic offices
- 30 FDIC institution directory, current count
- Employees (FTE)
- 668
- Domestic deposits
- $5.36B
- Allowance for credit losses
- $42.6M
- Net charge-offs (YTD)
- $65K
- Average total assets
- $6.56B
- Average total loans
- $5.04B
- Average interest-bearing deposits
- $4.59B
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 2, 1982
- FDIC Cert
- 23623
- Fed RSSD
- 816603
- SEC CIK
- 737468 → filed by WASHINGTON TRUST BANCORP, INC.
- Website
- www.washtrust.com →
- Parent Holding Company
- WASHINGTON TRUST BANCORP, INC. (RSSD 1115349) · WASH
Management
Senior officers at parent holding company, from SEC Form 3/4/5 disclosures
| Name | Role | Title |
|---|---|---|
| Edward O. Handy Iii | CEO | Chairman and CEO |
| Mary E. Noons | PRES | President and COO |
| Ronald S. Ohsberg | CFO | SEVP, CFO and Treasurer |
| William K. Wray Sr. | CRO | SEVP and Chief Risk Officer |
Profitability
Q2 annualizedCapital & Liquidity
Balance Sheet
Income Statement
Operating & Funding
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. How we compute these figures
Quarterly trends
From Q3 2023 to Q2 2026, The Washington Trust Company, of Westerly's total assets ranged from $6.46B (Q1 2026) to $7.25B (Q1 2024), and it earned a profit in 11 of the 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$6.55B total assets against $6.74B; $5.98B total liabilities against $6.20B.
$5.09B net loans and leases against $5.14B; $5.36B total deposits against $5.05B.
$897.2M securities against $975.5M; $121.6M cash and balances due against $166.2M.
$77.8M total interest income against $82.5M; $35.7M total interest expense against $44.9M.
$42.1M net interest income against $37.5M.
$18.7M total noninterest income against $17.1M; $38.4M total noninterest expense against $36.4M.
$1.6M provision for credit losses against $600K.
$16.3M net income against $13.6M.
1.00% return on assets against 0.80%; 2.73% net interest margin against 2.36%.
12.22% CET1 capital ratio against 12.07%; 8.92% tier 1 leverage ratio against 8.58%.
Inside the full The Washington Trust Company, of Westerly terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeWatch flags
Automated conditions triggered on this bank's latest filing. Advisory only; see the source metric pages for full context. Each flag is tagged Regulatory when it cites an official supervisory threshold, or BRR analysis when it's our own band, informed by our data and models.
Commercial real estate loans exceed 300% of total capital, the threshold at which the 2006 interagency guidance flags a bank for heightened supervisory scrutiny. CRE concentration has been the central stress vector for regional banks since 2023. 2006 Interagency CRE Concentration Guidance (SR 07-1).
The Washington Trust Company, of Westerly rankings
Its closest position to the top of a national ranking is 229 of 4,196, for total assets; its furthest is 1,645 of 2,134, for CET1 ratio.
Quarterly trend: last 8 quarters
From Q3 2024 to Q2 2026, its return on assets ran from -3.38% (Q4 2024) to 1.00% (Q2 2026) and its net interest margin ran from 1.86% (Q3 2024) to 2.73% (Q2 2026).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 12.22% | 1.00% | 0.78% | 7.33% | 2.73% |
| Q1 2026 | 12.31% | 0.78% | 0.80% | 7.57% | 2.61% |
| Q4 2025 | 11.98% | 0.97% | 0.25% | 2.46% | 2.58% |
| Q3 2025 | 11.93% | 0.65% | 0.27% | 2.73% | 2.43% |
| Q2 2025 | 12.07% | 0.80% | 0.50% | 5.03% | 2.36% |
| Q1 2025 | 12.12% | 0.73% | 0.42% | 4.22% | 2.27% |
| Q4 2024 | 11.54% | -3.38% | 0.43% | 4.74% | 1.93% |
| Q3 2024 | 11.27% | 0.62% | 0.56% | 6.31% | 1.86% |
Swipe the table sideways to see every column.
Branch Network
View all 29 branches → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| The Washington Trust Company, of Westerly | Westerly , RI | 02891 | $1.75B |
| Sweet Meadows Branch | Narragansett , RI | 02882 | $357.8M |
| Westminster Street Branch | Providence , RI | 02903 | $319.8M |
| Franklin Street Branch | Westerly , RI | 02891 | $309.3M |
| Centerville Road Branch | Warwick , RI | 02886 | $273.7M |
| North Kingstown Branch | North Kingstown , RI | 02852 | $235.9M |
| Charlestown Branch | Charlestown , RI | 02813 | $220.2M |
| Richmond Branch | Wyoming , RI | 02898 | $190.1M |
| Oaklawn Branch | Cranston , RI | 02920 | $180.1M |
| Wakefield Branch | Wakefield , RI | 02879 | $174.0M |
| Governor Francis Branch | Warwick , RI | 02888 | $141.5M |
| Reservoir Avenue Branch | Cranston , RI | 02910 | $134.6M |
| East Greenwich Branch Office | East Greenwich , RI | 02818 | $131.5M |
| East Providence Branch | East Providence , RI | 02914 | $131.0M |
| Bonnet Shores Branch | Narragansett , RI | 02882 | $107.5M |
| Mcquade's Mystic Branch | Mystic , CT | 06355 | $98.7M |
| Johnston Branch | Johnston , RI | 02919 | $94.3M |
| Plainfield Pike Branch | Cranston , RI | 02921 | $75.2M |
| Block Island Branch | Block Island , RI | 02807 | $67.4M |
| Coventry Branch | Coventry , RI | 02816 | $61.2M |
| East Side Branch | Providence , RI | 02906 | $59.5M |
| North Providence Branch | North Providence , RI | 02904 | $54.7M |
| Rumford Branch | Rumford , RI | 02916 | $50.4M |
| Cumberland Branch Office | Cumberland , RI | 02864 | $49.4M |
| Mcquade's Westerly Branch | Westerly , RI | 02891 | $33.7M |
Events & Regulatory History
Mergers, charter changes, enforcement actions, FDIC assistance, and (if applicable) failure events recorded against this institution. Click a year to see what else was happening across US banking that year.
| Date | Category | Event | Source |
|---|---|---|---|
| October 1, 2019 | Structure Change | Acquired Halsey Associates, Inc Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| April 17, 2002 | Structure Change | Acquired First Bank and Trust Company Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| April 16, 2002 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| August 26, 1999 | Structure Change | Acquired PierBank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| August 25, 1999 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
Sourced from the bank event history (FDIC, Federal Reserve NIC, OCC, and OTS). Showing the most recent 5 events.
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- 11.6% of deposits in RI, rank 3 of 17 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 2,363 applications, 1,290 loans originated, $477.8M originated, across 6 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 4 loans, $1.3M approved, $318K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2025 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Not on file
- Enforcement actions, Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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Frequently asked about The Washington Trust Company, of Westerly
What are The Washington Trust Company, of Westerly's total assets?
As of the Q2 2026 filing, The Washington Trust Company, of Westerly reported total assets of $6.55 billion in its FFIEC call report.
Where is The Washington Trust Company, of Westerly headquartered?
It is headquartered in Westerly, RI, United States.
When was The Washington Trust Company, of Westerly founded?
It was established in 1800, per the FDIC institution directory.
Is The Washington Trust Company, of Westerly FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #23623). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates The Washington Trust Company, of Westerly?
The Washington Trust Company, of Westerly's primary federal regulator is the FDIC.
What is The Washington Trust Company, of Westerly's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 12.22% in its Q2 2026 call report, above regulatory requirements.
How many branches does The Washington Trust Company, of Westerly operate?
It operates 30 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is The Washington Trust Company, of Westerly's Texas Ratio?
Its Texas Ratio is 7.33% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
What was The Washington Trust Company, of Westerly previously called?
The charter now named The Washington Trust Company, of Westerly has also operated as The Washington Trust Company, of Westerly (2014), per FDIC structure-change records.
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