1. Washington Trust ranked #1 as Rhode Island's Best-In-State Bank for 2025. 2. This is the seventh consecutive year on Forbes' prestigious list. 3. Recognition reflects strong customer satisfaction and innovative digital services. 4. Washington Trust emphasizes commitment to community and personalized banking experiences. 5. The bank supports financial well-being across Rhode Island and nearby states.
Washington Trust's continued recognition enhances brand reputation, potentially boosting customer acquisition similar to past market reactions following awards. For instance, banks like East West Bank saw stock price increases post-award recognitions.
Recognition by a major publication like Forbes is crucial in consumer choice, directly influencing WASH’s customer base and market perception.
Award recognition can lead to sustained customer loyalty and growth, improving financial stability over time, evidenced by trends in community-focused banks expanding their market share.
WESTERLY, R.I., June 24, 2025 /PRNewswire/ -- Washington Trust has been recognized as Rhode Island's Best-In-State Bank for 2025 by Forbes, marking the seventh consecutive year the bank has appeared on the list, and the third consecutive year they have been ranked #1.
The annual Forbes Best-In-State Banks list, compiled in partnership with market research firm Statista, evaluates financial institutions based on customer satisfaction, trust, fees, digital services, and financial advice.
"We are deeply honored to be named Rhode Island's Best-In-State Bank again this year," said Edward O. "Ned" Handy III, Washington Trust Chairman and CEO. "This recognition reflects the Bank's two and a quarter centuries of unwavering commitment to delivering exceptional banking experiences, fostering trust, and supporting the financial wellbeing of our customers and communities. By combining innovative technology for convenience and accessibility, with the personalized service of our dedicated team, we strive to meet the evolving needs of those we serve. We thank our employees for their hard work, and our customers for their continued loyalty that has endured for 225 years."
Forbes' 2025 ranking methodology included surveys of more than 26,000 U.S. consumers, assessing banks on criteria such as customer service, trustworthiness, accessibility, and transparency. Washington Trust's consistent dedication to personalized service, innovative digital solutions, and community engagement has solidified its position as a leader in Rhode Island's banking sector.
Founded in 1800, Washington Trust is recognized as 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 values its role as a community bank and is committed to helping the people, businesses, and organizations of New England improve their financial lives. The Bank offers a wide range of commercial banking, mortgage banking, personal banking and wealth management services through its offices in Rhode Island, Connecticut and Massachusetts and a full suite of convenient digital tools. Washington Trust is a member of the FDIC and an equal housing lender. Washington Trust is a subsidiary of Washington Trust Bancorp, Inc., a publicly-owned holding company which trades on NASDAQ: WASH. For more information, visit the Bank's website at www.washtrust.com or the Corporation's website at ir.washtrust.com.