Washington Trust Bancorp, Inc. Announces Board Changes
January 25, 2018 at 05:27 pm
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On January 22, 2018, the board of directors of Washington Trust Bancorp, Inc. accepted the resignation of Barry G. Hittner, to be effective April 23, 2018. The Corporation’s corporate governance guidelines, consistent with the By-laws, require any director who attains age 72 to resign from the Board of Directors as of the Annual Meeting of Shareholders following such director’s 72nd birthday. Mr. Hittner will reach age 72 prior to the 2018 Annual Meeting of Shareholders, which will be held on April 24, 2018. Mr. Hittner is a member of the class of directors with a term expiring at the 2019 Annual Meeting of Shareholders. In anticipation of the resignation of Victor J. Orsinger II, a member of the class of directors with a term expiring at the 2018 Annual Meeting of Shareholders, at the 2019 Annual Meeting of Shareholders, the Board determined, effective April 23, 2018, to move Mr. Orsinger from the 2018 Class to the 2019 Class. Accordingly, effective April 23, 2018, Mr. Orsinger resigned as a director and the Board appointed Mr. Orsinger to the Board as 2019 Class director. Mr. Orsinger will continue to serve on the Executive Committee and the Nominating and Corporate Governance Committee.
Washington Trust Bancorp, Inc. is a holding company of The Washington Trust Company (the Bank). The Bank is a state-chartered bank and financial services company. The Company operates through two segments: Commercial Banking and Wealth Management Services. The Commercial Banking segment includes commercial, residential and consumer lending activities; mortgage banking activities; deposit generation; cash management activities; banking activities, including customer support and the operation of automated teller machines (ATMs), telephone banking, internet banking and mobile banking services; as well as investment portfolio and wholesale funding activities. The Wealth Management Services segment includes investment management; holistic financial planning services; personal trust and estate services, including services as trustee, personal representative and custodian; settlement of decedentsâ estates; and institutional trust services, including custody and fiduciary services.