Due to a planned internal promotion, S&W has been retained by The Washington Trust Company (“Washington Trust,” washtrust.com) to lead the search and selection process for the bank’s next Executive Vice President, Chief Retail Lending Officer.
Founded in 1800 and headquartered in Westerly, Rhode Island, Washington Trust is the oldest community bank in the U.S and one of the premier financial institutions in the region. The bank is approximately $6.4B in total assets and serves customers across established business lines in commercial and mortgage lending and wealth management, operating 27 retail locations in Rhode Island, Connecticut, and Massachusetts. The bank is publicly traded (NASDAQ – WASH) and in outstanding financial condition. For the most recent reporting period the bank had a return on equity (ROE) of 14.77%, efficiency ratio of 57.45%, and noncurrent loans to loans of 0.25%.
Supported by over 100 professionals, the Retail Lending division is a critical component of the bank’s overall strategy. The division originated $1.7B in new loans in each of 2020 and 2021, and $1.2B in 2022. Reporting to the bank’s President & COO, this EVP-level leadership role will be responsible for the overall growth and strategy of this meaningful division. We are seeking exceptional mortgage lending executives with well-rounded experience across sales, operations, and capital markets for this once-in-a-lifetime bank leadership role. For additional information, please contact a member of the S&W search team: Cameron Boyd, Managing Partner, Financial Services (cboyd@smithandwilkinson.com) or Moriah Maron, Senior Associate, Financial Services (mmaron@smithandwilkinson.com).