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Article: Washington Trust Bancorp, Inc. Announces Plans to Acquire PierBank.
- Article from:
- PR Newswire
- Article date:
- February 23, 1999
CopyrightCOPYRIGHT 1999 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WESTERLY, R.I., Feb. 23 /PRNewswire/ -- Washington Trust Bancorp, Inc. (Nasdaq: WASH), parent of The Washington Trust Company, today announced that it has signed a definitive agreement to acquire PierBank, a Rhode Island- chartered community bank with assets of $59.4 million, which is headquartered in South Kingstown, Rhode Island. Washington Trust Bancorp, Inc., with assets of $935 million, is headquartered in Westerly, Rhode Island. Under the terms of the agreement, PierBank will be merged into The Washington Trust Company.
"Washington Trust and PierBank are ideal partners," stated John C. Warren, Washington Trust's President and Chief Executive Officer. "We ...