WESTERLY, R.I., April 27, 2021 /PRNewswire/ -- Washington Trust
Bancorp, Inc. ("the Corporation") (NASDAQ: WASH), the publicly
owned holding company of The Washington Trust Company, today held a
live webcast of its Annual Meeting of Shareholders. Edward O. Handy III, Washington Trust Chairman
and Chief Executive Officer, presided over the Meeting and
reflected on the Corporation's continued success, "I believe
our company has emerged from the COVID-19 pandemic even
stronger, as our year-end 2020 and first quarter 2021 results
reflect strong earnings and profitability. Our team
continues to work closely with customers and communities to
ensure their financial needs are being met during this crisis and
we remain committed to pursuing future growth and enhancing
shareholder value."
Shareholders adopted all the resolutions submitted for
approval:
- Constance A. Howes, Esq.;
Joseph J. MarcAurele; and
Edwin J. Santos were re-elected to
the Corporation's Board of Directors for three-year terms ending in
2024. Lisa M. Stanton was elected to
the Corporation's Board of Directors for a three-year term ending
in 2024.
- An amendment to the Corporation's Restated Articles of
Incorporation creating a new class of capital stock, "Undesignated
Preferred Stock", was approved.
- The ratification of the selection of Crowe LLP to serve as the
independent registered public accounting firm for the Corporation
for the current fiscal year ending December
31, 2021.
- A non-binding advisory resolution to approve the compensation
of the Corporation's named executive officers was approved.
Special recognition was paid to Katherine W. Hoxsie, who retired from the Board
effective at the Annual Meeting, after 30 years of service on the
Corporation's Board and the Board of its subsidiary, The Washington
Trust Company. In 1991, Hoxsie became the first woman elected
to Washington Trust's board; today more than one-third of the Board
is female. A Certified Public Accountant, Hoxie has served on the
Audit Committee of the Corporation and Bank boards for her entire
tenure and has served as Audit Committee Chair for the past 23
years. Hoxsie's contributions to the board spanned three decades as
she helped shape the Board's oversight of financial reporting,
accounting practices, internal controls, data security and risk
management.
Handy commented on the Board's transition stating, "We thank
Katherine Hoxsie for her tremendous
financial insight, leadership, and guidance over the past three
decades. We welcome Lisa
Stanton and look forward to the contributions she will bring
through her entrepreneurial mindset, deep expertise in risk
mitigation and history of innovation in the data security and
payment spaces. Washington Trust's Board is fortunate to be
comprised of an experienced, diverse group of leaders who are
dedicated to working with management to guide our Corporation to
future successes."
ABOUT WASHINGTON TRUST
BANCORP, INC.
Washington Trust Bancorp, Inc. is the parent
of The Washington Trust Company, with $5.7
billion in assets as of March 31,
2021. Founded in 1800, Washington Trust is the
oldest community bank in the nation, the largest state-chartered
bank headquartered in Rhode Island
and one of the Northeast's premier financial services companies.
Washington Trust offers a full range of financial services,
including commercial banking, mortgage banking, personal banking
and wealth management and trust services through its
offices located in Rhode Island,
Connecticut and Massachusetts. The Corporation's common stock
trades on NASDAQ under the symbol WASH. Investor information is
available on the Corporation's web site
at: http://ir.washtrust.com.
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SOURCE Washington Trust Bancorp, Inc.