Westerly, RI The Washington Trust Company, the oldest community bank in the nation, marks 225 years of commitment to the businesses and families of Rhode Island and New England. Since opening its doors on August 22, 1800, Washington Trust has grown to become one of New England’s premier banking, mortgage and wealth management institutions, and a partner committed to bettering the region.
Washington Trust was founded by a group of entrepreneurs in Westerly who recognized the need for a local financial institution to serve the region’s farming and fishing communities. At the time about 68,000 people were living in the state and the population was growing. Rhode Island’s longest seated governor, Arthur Fenner, was ten years into his term, and John Adams was serving as the nation’s second president. Washington Trust took its name in honor of George Washington, and the bank quickly became a trusted resource for generations of families and businesses.
A legacy of firsts and longevity
Washington Trust was the fourth bank to open in Rhode Island and is now the oldest one in the state still operating independently, surviving the panics of the 1800s when many banks failed. Today, Washington Trust employs more than 650 employees across Rhode Island, Connecticut, and Massachusetts.
The bank’s history is intertwined with America’s own journey. It was the first bank in the country to print a likeness of George Washington on currency, and its vault from the original “Little Greek Temple” building remains in use today — so integral to the bank’s identity that its current headquarters was built around it in 1925.
Celebration events
To commemorate Washington Trust’s historic milestone 225th birthday, on August 22 chairman and CEO Edward Handy III rang the Nasdaq opening bell in Times Square, joined by 50 Washington Trust executives, senior managers, and employees. Additionally on this date, each Washington Trust bank branch held a customer appreciation day, with raffles, refreshments, and commemorative materials.
A source of pride for Rhode Island
Among the ten publicly-traded companies headquartered in Rhode Island, Washington Trust stands as the longest-operating one. While nearby banks are merging or being acquired, Washington Trust has remained independent. This matters because Washington Trust’s longevity and independence have provided stability and a source of pride for the state and region.
Washington Trust remains committed to supporting local businesses, fostering generational wealth through homeownership, and investing in the region’s future, by donating more than $1 million annually and contributing more than 8,000 volunteer hours to nonprofit organizations focused on financial wellness, housing, and family services.
Leadership reflections
“This anniversary isn’t just about Washington Trust’s history — it’s about the community that helped make it possible,” said Handy. “We’re proud to celebrate this milestone with the people who’ve supported us every step of the way.”
“At the core of Washington Trust’s success is relationship banking — knowing our customers, understanding their goals, and helping them succeed,” said Handy. “As we celebrate 225 years, we’re focused on continuing that tradition with a deep commitment to the communities we serve.”