Washington Trust Bancorp, Inc. 2000 Annual Meeting

Seventh Consecutive Year of Record Operating Earnings



Apr 24, 2001, 01:00 ET from Washington Trust Bancorp, Inc.

    WESTERLY, R.I., April 24 /PRNewswire Interactive News Release/ --
 Washington Trust Bancorp, Inc. (The Nasdaq Stock MarketSM, Symbol: WASH),
 parent of The Washington Trust Company, today held its Annual Meeting of
 Shareholders for the year ended December 31, 2000.  Approximately 200
 shareholders and guests attended the meeting held at the Westerly Public
 Library.
     John C. Warren, Chairman and Chief Executive Officer, discussed Washington
 Trust's record performance. "The Year 2000 was a very productive and exciting
 year for Washington Trust. We had our seventh consecutive year of record
 operating earnings; we increased our dividend for the eighth consecutive year;
 we acquired Phoenix Investment Management; we introduced online banking, and
 we celebrated our 200th year of business."
     Warren commented on the importance of being the area's premier community
 bank, stating, "For more than 200 years, we have built our business on the
 belief that strong, supportive customer and community relationships are what
 banking is all about."  Warren stated the Corporation's vision is "to be the
 best community bank and trust company in New England."  Commenting on the
 Corporation's future, he stated, "Washington Trust must stay current with
 technology; continue to provide friendly, local service and decision making;
 provide superior products; and maintain our high level of community service."
     David V. Devault, Executive Vice President, Treasurer and Chief Financial
 Officer, discussed the Corporation's 2000 financial results.  He also
 commented on Washington Trust's first quarter performance, stating,
 "Washington Trust had a strong first quarter: net operating income was up
 8.3% over the same period in 2000; total loans increased by $10 million and
 now exceed $600 million for the first time; asset quality continues to be
 excellent, with a very favorable nonperforming asset ratio; and we increased
 the dividend to $.13 per share, our ninth consecutive year of dividend
 increases."
     Six directors were elected to the Corporation's Board of Directors:
 Alcino G. Almeida, Katherine W. Hoxsie, Edward M. Mazze, Joyce O. Resnikoff,
 John F. Treanor, and John C. Warren.
     Special recognition was also paid to James W. McCormick, Jr., a long-term
 board member who reached the Board's mandatory retirement age and retired from
 the Corporation's Board of Directors, effective with today's meeting.  Mr.
 McCormick, former President of McCormick's Department Store, had served on
 Washington Trust's board for 18 years.
     In other business, shareholders also approved the ratification of KPMG LLP
 as independent accountants for the Corporation for the current fiscal year
 ending December 31, 2001.
     Washington Trust Bancorp, Inc. is the parent of The Washington Trust
 Company, a Rhode Island state-chartered bank founded in 1800.  The Bank offers
 a full range of financial services, including trust and investment management,
 through its offices in Rhode Island and southeastern Connecticut.  Washington
 Trust Bancorp, Inc.'s common stock trades on The Nasdaq Stock Market(R) under
 the symbol WASH.  Web site address:  www.washtrust.com.
     This release contains certain statements that may be considered forward-
 looking statements within the meaning of Section 27A of the Securities Act of
 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as
 amended.  The Corporation's actual results could differ materially from those
 projected in the forward-looking statements as a result, among other factors,
 of changes in general national or regional economic conditions, changes in
 interest rates, reductions in the market value of trust and investment
 management assets under administration, reductions in deposit levels
 necessitating increased borrowing to fund loans and investments, changes in
 the size and nature of the Corporation's competition, changes in loan default
 and charge-off rates, risk of an adverse action in pending litigation, and
 changes in the assumptions used in making such forward-looking statements.
 
                     MAKE YOUR OPINION COUNT -  Click Here
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SOURCE Washington Trust Bancorp, Inc.
    WESTERLY, R.I., April 24 /PRNewswire Interactive News Release/ --
 Washington Trust Bancorp, Inc. (The Nasdaq Stock MarketSM, Symbol: WASH),
 parent of The Washington Trust Company, today held its Annual Meeting of
 Shareholders for the year ended December 31, 2000.  Approximately 200
 shareholders and guests attended the meeting held at the Westerly Public
 Library.
     John C. Warren, Chairman and Chief Executive Officer, discussed Washington
 Trust's record performance. "The Year 2000 was a very productive and exciting
 year for Washington Trust. We had our seventh consecutive year of record
 operating earnings; we increased our dividend for the eighth consecutive year;
 we acquired Phoenix Investment Management; we introduced online banking, and
 we celebrated our 200th year of business."
     Warren commented on the importance of being the area's premier community
 bank, stating, "For more than 200 years, we have built our business on the
 belief that strong, supportive customer and community relationships are what
 banking is all about."  Warren stated the Corporation's vision is "to be the
 best community bank and trust company in New England."  Commenting on the
 Corporation's future, he stated, "Washington Trust must stay current with
 technology; continue to provide friendly, local service and decision making;
 provide superior products; and maintain our high level of community service."
     David V. Devault, Executive Vice President, Treasurer and Chief Financial
 Officer, discussed the Corporation's 2000 financial results.  He also
 commented on Washington Trust's first quarter performance, stating,
 "Washington Trust had a strong first quarter: net operating income was up
 8.3% over the same period in 2000; total loans increased by $10 million and
 now exceed $600 million for the first time; asset quality continues to be
 excellent, with a very favorable nonperforming asset ratio; and we increased
 the dividend to $.13 per share, our ninth consecutive year of dividend
 increases."
     Six directors were elected to the Corporation's Board of Directors:
 Alcino G. Almeida, Katherine W. Hoxsie, Edward M. Mazze, Joyce O. Resnikoff,
 John F. Treanor, and John C. Warren.
     Special recognition was also paid to James W. McCormick, Jr., a long-term
 board member who reached the Board's mandatory retirement age and retired from
 the Corporation's Board of Directors, effective with today's meeting.  Mr.
 McCormick, former President of McCormick's Department Store, had served on
 Washington Trust's board for 18 years.
     In other business, shareholders also approved the ratification of KPMG LLP
 as independent accountants for the Corporation for the current fiscal year
 ending December 31, 2001.
     Washington Trust Bancorp, Inc. is the parent of The Washington Trust
 Company, a Rhode Island state-chartered bank founded in 1800.  The Bank offers
 a full range of financial services, including trust and investment management,
 through its offices in Rhode Island and southeastern Connecticut.  Washington
 Trust Bancorp, Inc.'s common stock trades on The Nasdaq Stock Market(R) under
 the symbol WASH.  Web site address:  www.washtrust.com.
     This release contains certain statements that may be considered forward-
 looking statements within the meaning of Section 27A of the Securities Act of
 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as
 amended.  The Corporation's actual results could differ materially from those
 projected in the forward-looking statements as a result, among other factors,
 of changes in general national or regional economic conditions, changes in
 interest rates, reductions in the market value of trust and investment
 management assets under administration, reductions in deposit levels
 necessitating increased borrowing to fund loans and investments, changes in
 the size and nature of the Corporation's competition, changes in loan default
 and charge-off rates, risk of an adverse action in pending litigation, and
 changes in the assumptions used in making such forward-looking statements.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X84092431
 
 SOURCE  Washington Trust Bancorp, Inc.