|
|
Article: Rhode Island-Based Washington Trust Bancorp to Purchase First Financial.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- November 14, 2001
CopyrightCOPYRIGHT 2001 Knight-Ridder/Tribune Business News. 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)
|
By Lisa Biank Fasig, Providence Journal, R.I. Knight Ridder/Tribune Business News
Nov. 14--In a move that will expand New England's oldest community bank north into central Rhode Island, Washington Trust Bancorp Inc. said it has agreed to buy First Financial Corp. in a deal valued at about $39 million.
Although not a large acquisition, First Financial offers Westerly-based Washington Trust key businesses in markets that have commercial promise. The deal would give the 13-branch Washington Trust four additional branches -- three in new markets -- and it would add $174.1 million in assets to Washington Trust's $1.36-billion asset base.
...