The Washington Trust Company, of Westerly

23 Broad Street
Westerly, RI 02891

 

2019 Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 23623
Date Established 1800
Assets $5.01 billion
Loans $3.67 billion
Deposits $3.53 billion
Capital $0.47 billion

The Washington Trust Company, of Westerly is an FDIC insured institution located in Westerly, RI. It was founded in 1800 and has approximately $5.01 billion in assets. Customers can open an account at one of its 24 branches.

For a more detailed analysis of The Washington Trust Company, of Westerly's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Bank Loan Profile?

The top three loan types in The Washington Trust Company, of Westerly’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Multifamily Mortgages.

Compared to other banks in Rhode Island, The Washington Trust Company, of Westerly has a significantly higher percent of Construction and Development Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 44.70
Multifamily
Mortgages
7.63
Credit Card Loans 0.00
Consumer Auto Loans 0.01
Small Business Loans 3.20
Construction and Development Loans 5.82
Commercial Real Estate 31.46
Commercial and Industrial Loans 6.60
Farm Loans 0.00

Deposit Rates - April 21, 2019

Your Current Location: Washington, WA 98109

Savings and Money Market Rates APY MIN MAX
Money Market
0.10% $2,500 $24,999 Learn MoreShow Less
Money Market
0.10% $25,000 $49,999 Learn MoreShow Less
CD Rates APY MIN MAX
3 Mo CD
0.10% $500 - Learn MoreShow Less
6 Mo CD
0.10% $500 - Learn MoreShow Less
Special: 12 Mo CD
1.75% $500 - Learn MoreShow Less
12 Mo CD
0.10% $500 - Learn MoreShow Less
Special: 18 Mo CD
2.50% $500 - Learn MoreShow Less
18 Mo CD
0.25% $500 - Learn MoreShow Less
24 Mo CD
0.35% $500 - Learn MoreShow Less
36 Mo CD
0.50% $500 - Learn MoreShow Less
48 Mo CD
0.75% $500 - Learn MoreShow Less
60 Mo CD
0.90% $500 - Learn MoreShow Less

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.10% $500 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.05% $1,500 - Learn MoreShow Less

Loan Rates - April 21, 2019

Your Current Location: Washington, WA 98109

Home Equity Rates APR Rate Monthly Payment
Auto Loan Rates APR Rate Monthly Payment
3 Year 4.25% 4.25% $740.88
4 Year 4.25% 4.25% $567.28
Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.

Branches

The Washington Trust Company, of Westerly branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Seattle,Washington


The Washington Trust Company, of Westerly Locations


Financial Details

The Washington Trust Company, of Westerly Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of The Washington Trust Company, of Westerly. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
The Washington Trust Company, of Westerly U.S. Bank Average
2.81% 6.97%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its the bank’s tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of December 31, 2018, The Washington Trust Company, of Westerly had $11,746,000 in non-current loans and $2,142,000 in owned real estate. To cover these potential losses it had $467,658,000 in equity and $27,072,000 in loans loss reserves. That gives it a Texas Ratio of 2.81%.

Return on Equity
The Washington Trust Company, of Westerly U.S. Bank Average
15.6% 8.80%

The Washington Trust Company, of Westerly has a Return on Equity of 15.6% versus the BestCashCow average of 8.80%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
The Washington Trust Company, of Westerly U.S. Bank Average
9.33% 12.29%

The Washington Trust Company, of Westerly has a Capitalization of 9.33% versus the BestCashCow average of 12.29. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

The Washington Trust Company, of Westerly Balance Sheet Analysis

As of December 31, 2018, The Washington Trust Company, of Westerly had assets of $5,011,946,000, loans of $3,674,539,000, and deposits of $3,527,486,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

December 31, 2018
ASSETS
Cash & Balances due from depository institutions $0.09 billion
Interest-bearing balances $0.03 billion
Total securities $0.94 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $3.67 billion
Loan loss allowance $0.03 billion
Trading account assets $0.00 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.08 billion
All other assets $0.20 billion
     Total Assets $4.54 billion
LIABILITIES
Total deposits $3.53 billion
      Interest-bearing deposits $2.92 billion
      Deposits held in domestic offices $3.53 billion
      % insured (estimated) 78.36%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.95 billion
Subordinated debt $0.00 billion
All other liabilities $0.06 billion
      Total Liabilities $4.54 billion
      Shareholders’ Equity $0.47 billion

Summary Income Statement

December 31, 2018
INCOME AND EXPENSES
Total Interest Income $0.18 billion
Total Interest Expense $0.04 billion
Net interest income $0.13 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.06 billion
Total non interest expense $0.10 billion
Pre-tax Net Operating Income $0.09 billion

Frequently Asked Questions About The Washington Trust Company, Of Westerly

Branches and Savings

Is The Washington Trust Company, Of Westerly FDIC insured?

Yes. It is covered under FDIC Certificate #23623.

Why does The Washington Trust Company, Of Westerly pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are The Washington Trust Company, Of Westerly CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is The Washington Trust Company, Of Westerly a commercial bank?

Yes

Where are The Washington Trust Company, Of Westerly locations?

See branch locations nearby.

Is The Washington Trust Company, Of Westerly open on Saturdays?

Is The Washington Trust Company, Of Westerly open on Sundays?

What time does The Washington Trust Company, Of Westerly open?

What time does The Washington Trust Company, Of Westerly close?

Are The Washington Trust Company, Of Westerly ATMs Open 24/7?

Do The Washington Trust Company, Of Westerly ATMs accept cash deposits?

Can The Washington Trust Company, Of Westerly customers use other ATMs?

Do The Washington Trust Company, Of Westerly branches have notaries?

Will The Washington Trust Company, Of Westerly notarize my document?

What address for The Washington Trust Company, Of Westerly should I put for incoming ACH transfers?

Will the The Washington Trust Company, Of Westerly branch print checks?

Do The Washington Trust Company, Of Westerly checks expire?

Does The Washington Trust Company, Of Westerly require US citizenship to open account?

Can The Washington Trust Company, Of Westerly close my account?

Does The Washington Trust Company, Of Westerly Report to credit bureaus?

Does The Washington Trust Company, Of Westerly Use Equifax?

What is The Washington Trust Company, Of Westerly's ACH Routing Number?

What is The Washington Trust Company, Of Westerly's SWIFT code?

Products

Does The Washington Trust Company, Of Westerly offer mortgages?

Compare mortgage rates here.

Does The Washington Trust Company, Of Westerly offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does The Washington Trust Company, Of Westerly offer personal loans?

Compare personal loan rates here.

Does The Washington Trust Company, Of Westerly offer student loans?

Will The Washington Trust Company, Of Westerly cash a check?

Will The Washington Trust Company, Of Westerly redeem a savings bond?

Does The Washington Trust Company, Of Westerly cash savings bonds?

Will The Washington Trust Company, Of Westerly cash money orders?

Can The Washington Trust Company, Of Westerly issue a money order?

Does The Washington Trust Company, Of Westerly do currency exchange?

Background on The Bank

Who owns The Washington Trust Company, Of Westerly?

How long has The Washington Trust Company, Of Westerly been around?

Can The Washington Trust Company, Of Westerly transfer to other banks?

Does The Washington Trust Company, Of Westerly have quick pay?

Does The Washington Trust Company, Of Westerly accept rolled coins?

Will The Washington Trust Company, Of Westerly accept loose change?

Where is The Washington Trust Company, Of Westerly headquarters?

Customer Reviews for The Washington Trust Company, of Westerly


  • Mary Allan

    September 01, 2015

    Do you still have an IRA CD rate of 2%?

  • Carol Mulvaney

    June 17, 2015

    Do you still have the 2 % cd rate on a five year cd?

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