What's Happening?
Washington Trust, the oldest community bank in the United States, is set to open its 29th branch in Pawtucket, Rhode Island, in the fall of 2026. This expansion marks a strategic move to increase the bank's
presence in northern Rhode Island, a region experiencing significant growth. The new branch will be located on Broadway, near major transportation routes, and will offer a full range of financial services, including deposit products, loans, and wealth management. This development is part of Washington Trust's ongoing commitment to providing accessible financial services and supporting the economic vitality of the communities it serves.
Why It's Important?
The opening of a new branch by Washington Trust in Pawtucket is significant for several reasons. It reflects the bank's strategy to capitalize on the economic growth in northern Rhode Island, providing residents and businesses with greater access to financial services. This expansion is expected to contribute to the local economy by creating jobs and supporting community development. Additionally, as the bank celebrates its 225th anniversary, this move underscores its long-standing commitment to serving the financial needs of New Englanders. The new branch will also enhance Washington Trust's competitive position in the region's banking sector.
What's Next?
As Washington Trust prepares for the branch opening in 2026, the bank will likely focus on integrating into the Pawtucket community and building relationships with local residents and businesses. The bank's leadership, including Chairman and CEO Edward O. 'Ned' Handy, has expressed enthusiasm about becoming a part of the community and providing personalized financial services. The success of this new branch could lead to further expansion opportunities for Washington Trust in other growing areas of Rhode Island and beyond.
