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Washington Bancorp ( (WASH) ) has provided an update.
Washington Trust Bancorp, Inc. announced an underwritten public offering of $55 million in common stock, with a potential 15% additional option to the underwriters. The proceeds are intended for supporting organic growth and capital generation, including investments in the bank and optimizing its balance sheet through various financial strategies. BofA Securities is managing the offering as the sole book-running manager.
More about Washington Bancorp
Washington Trust Bancorp, Inc. is a publicly-owned company that serves as the holding company for The Washington Trust Company, a community bank with $7.1 billion in assets. Established in 1800, it is the oldest community bank in the U.S. and the largest state-chartered bank in Rhode Island. The company offers a range of financial services including commercial, mortgage, personal banking, and wealth management across Rhode Island, Connecticut, and Massachusetts, and provides digital banking tools. It is a member of the FDIC and an equal housing lender.
YTD Price Performance: 20.08%
Average Trading Volume: 116,432
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $625.6M
For an in-depth examination of WASH stock, go to TipRanks’ Stock Analysis page.
