Washington Trust Bancorp Inc. announced that it has plans to open two branches in 2015. One in Rumford, Rhode Island, in March 2015 and another on the east side of Providence in the third quarter of 2015.

The company reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company's total interest and dividend income was $31,905,000 compared to $29,366,000 a year ago. Net interest income was $26,263,000 compared to $23,521,000 a year ago. Income before income taxes was $16,409,000 compared to $14,193,000 a year ago. Net income was $11,191,000 or $0.32 per diluted share compared to $9,789,000 or $0.27 per diluted share a year ago. Book value per share was $20.68 as on December 31, 2014 compared to $19.84 as on December 31, 2013. Return on average assets was 1.27% compared to 1.24% a year ago. Return on average equity was 12.68% compared to 11.98% a year ago.

For the year, total interest and dividend income was $121,117,000 compared to $116,348,000 a year ago. Net interest income was $99,505,000 compared to $91,785,000 a year ago. Income before income taxes was $59,823,000 compared to $52,680,000 a year ago. Net income was $40,824,000 or $1.22 per diluted share compared to $36,153,000 or $1.03 per diluted share a year ago. Return on average assets was 1.23% compared to 1.17% a year ago. Return on average equity was 11.87% compared to 11.65% a year ago.

For the fourth quarter of 2014, the company's net charge-offs amounted to $245,000 compared to $101,000 in the third quarter of 2014.