The Washington Trust Company, of Westerly
Westerly, Rhode Island, Washington County
$6.6B in total assets, the 242nd largest of 4,309 US banks and 2nd of 5 headquartered in Rhode Island.
- FDIC certificate
- 23623
- Established
- 1800
- Owned by
- Washington Trust Bcorp Inc
- Primary regulator
- FDIC
- Website
- www.washtrust.com
At a glance
Compared with 901 US banks with $1 billion to $10 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $6.6B | 92% | $2.0B | |
| Loans | $5.1B | 94% | $1.4B | |
| Deposits | $5.4B | 92% | $1.7B | |
| Return on assets | 0.86% | 22% | 1.23% | |
| Net interest margin | 2.73% | 7% | 3.71% | |
| Efficiency ratio | 63.6% | 64% | 59.1% | |
| Equity to assets | 8.68% | 16% | 10.38% | |
| Loans to deposits | 96% | 73% | 88% |
Growth
Total assets grew 2.3% a year over the last 5 years and 5.3% a year over 10 years, without acquisitions.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| Apr 2002 | First Bank and Trust Company Providence, RI | $181M |
| Aug 1999 | PierBank Narragansett, RI | $60M |
Where they operate
29 branches in 5 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| Washington County, RI | $3.4B | 58.3% | 1 of 9 |
| Providence County, RI | $1.2B | 4.1% | 5 of 15 |
| Kent County, RI | $608M | 10.6% | 3 of 13 |
| Southeastern Connecticut County, CT | $99M | 1.5% | 12 of 14 |
| Bristol County, RI | $25M | 1.5% | 8 of 10 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
Net gain of 8 branches since 2016 (21 to 29, +38.1%). 8 opened, 0 acquired, 0 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 21 | |||
| 2016 | Opened Providence | 1 | 0 | +1 | 22 |
| 2017 | Opened Coventry | 1 | 0 | +1 | 23 |
| 2019 | Opened North Providence | 1 | 0 | +1 | 24 |
| 2021 | Opened East Greenwich | 1 | 0 | +1 | 25 |
| 2022 | Opened Cumberland | 1 | 0 | +1 | 26 |
| 2023 | Opened Barrington | 1 | 0 | +1 | 27 |
| 2024 | Opened Providence and Smithfield | 2 | 0 | +2 | 29 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| 1-4 family residential | 46% | 25% | |
| Commercial real estate | 34% | 32% | |
| Multifamily | 11% | 8% | |
| Business (C&I) | 2% | 14% | |
| Construction and land | 2% | 8% | |
| Consumer | 0% | 4% | |
| Farmland | 0% | 3% | |
| Agricultural | 0% | 2% | |
| Other | 5% | 3% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Other interest-bearing | 67% | 52% | |
| Time deposits | 21% | 27% | |
| Noninterest-bearing | 12% | 21% |
Brokered deposits are 7.5% of deposits (peers 6.1%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 0.78% | 0.51% |
| Net charge-offs, annualized | 0.00% | 0.04% |
| Reserves to loans | 0.83% | 1.15% |
| Leverage ratio | 8.92% | 10.52% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in Rhode Island
Largest competitors in Washington County, RI
Figures as of June 30, 2026 from the bank's Call Report, FDIC structure and branch data, and the Federal Reserve. Short link: bankingstats.com/banks/washington-trust-westerly-ri