The Washington Trust Company, of Westerly


The Washington Trust Company, of Westerly is an FDIC insured institution headquartered at 23 Broad St, Westerly, RI 02891.
It was founded in 1800 and has approximately $7 billion in assets. Customers can open an account at one of its 24 branches.

Deposit Rates - June 24, 2024

SAVINGS RATES APY MIN
CD RATES APY MIN
6 Mo CD
0.10% $10,000 Compare
6 Mo CD
0.10% $100,000 Compare
MM RATES APY MIN
Money Market
0.10% $2,500 Compare
Money Market
0.10% $10,000 Compare
Money Market
0.10% $25,000 Compare
INT CHECKING RATES APY MIN
Int Ckg
0.05% $2,500

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 23623
Date Established 1800
Assets $ 7.20 billion
Loans $ 5.63 billion
Deposits $ 5.35 billion
Capital $ 488.75 million

Summary Balance Sheet as of June 30, 2023

ASSETS
Cash & Balances due from depository institutions $ 88.35 million
Interest-bearing balances $ 31.85 million
Total securities $ 1,003.74 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 5.63 billion
Loan loss allowance $ 41.06 million
Trading account assets $ 51.70 million
Bank premises and fixed assets N.A.
Other real estate owned $ 0.68 million
Goodwill and other intangibles $ 76.13 million
All other assets $ 235.24 million
     Total Assets $ 6.71 billion

LIABILITIES
Total deposits $ 5.35 billion
      Interest-bearing deposits $ 4.65 billion
      Deposits held in domestic offices $ 5.35 billion
      % insured (estimated) 76.91%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities $ 52.10 million
Other borrowed funds $ 328.00 million
Subordinated debt N.A.
All other liabilities $ 114.39 millionn
      Total Liabilities $ 6.71 billion
      Shareholders’ Equity $ 488.75 million

Summary Income Statement as of June 30, 2023

INCOME AND EXPENSES
Total Interest Income $ 333.28 million
Total Interest Expense $ 194.64 million
Net interest income $ 138.64 million
Provision for loan and lease losses $ 3.20 million
Total non interest income $ 56.35 million
Total non interest expense $ 132.84 million
Pre-tax Net Operating Income $ 46.84 million

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Branches

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The Washington Trust Company, of Westerly Locations

Savings Comparison

This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.

PRODUCT
BANK
BANK TYPE
STATE
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
MILES

Tax Rate: 30%

All calculations are for demonstration purposes only.

  • 1
    LOCAL CD
    Bank
    RHODE ISLAND
    $50,000
    6 Month
    0.10%
    0.25x (National Avg. - 0.40%)
    $10,000
    -
    SCENARIO
    Year Rate
    0.10%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 50 35
    2 50,050 50 35
    3 50,100 50 35
    4 50,150 50 35
    5 50,200 50 35
    6 50,251 50 35
    7 50,301 50 35
    8 50,351 50 35
    9 50,401 50 35
    10 50,452 50 35
    11 50,502 51 35
    12 50,553 51 35
    13 50,603 51 35
    14 50,654 51 35
    15 50,705 51 35
    16 50,755 51 36
    17 50,806 51 36
    18 50,857 51 36
    19 50,908 51 36
    20 50,959 51 36
    TOTAL $1,010 $707
  • 2
    LOCAL CD
    Bank
    -
    $50,000
    7 Month
    5.25%
    N.A.
    $5,000
    -
    SCENARIO
    Year Rate
    5.25%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,625 1,838
    2 52,625 2,763 1,934
    3 55,388 2,908 2,036
    4 58,296 3,061 2,142
    5 61,356 3,221 2,255
    6 64,577 3,390 2,373
    7 67,968 3,568 2,498
    8 71,536 3,756 2,629
    9 75,292 3,953 2,767
    10 79,244 4,160 2,912
    11 83,405 4,379 3,065
    12 87,784 4,609 3,226
    13 92,392 4,851 3,395
    14 97,243 5,105 3,574
    15 102,348 5,373 3,761
    16 107,721 5,655 3,959
    17 113,377 5,952 4,167
    18 119,329 6,265 4,385
    19 125,594 6,594 4,616
    20 132,187 6,940 4,858
    TOTAL $89,127 $62,389
  • 3
    LOCAL CD
    Bank
    -
    $50,000
    12 Month
    5.35%
    9.55x (National Avg. - 0.56%)
    $5,000
    -
    SCENARIO
    Year Rate
    5.35%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,675 1,873
    2 52,675 2,818 1,973
    3 55,493 2,969 2,078
    4 58,462 3,128 2,189
    5 61,590 3,295 2,307
    6 64,885 3,471 2,430
    7 68,356 3,657 2,560
    8 72,013 3,853 2,697
    9 75,866 4,059 2,841
    10 79,925 4,276 2,993
    11 84,201 4,505 3,153
    12 88,705 4,746 3,322
    13 93,451 5,000 3,500
    14 98,451 5,267 3,687
    15 103,718 5,549 3,884
    16 109,267 5,846 4,092
    17 115,113 6,159 4,311
    18 121,271 6,488 4,542
    19 127,759 6,835 4,785
    20 134,594 7,201 5,041
    TOTAL $91,795 $64,256