SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) February 28, 1994
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WASHINGTON TRUST BANCORP, INC.
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(Exact name of registrant as specified in its charter)
RHODE ISLAND 0-13091 05-0404671
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(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) identification No.)
23 BROAD STREET, WESTERLY, RHODE ISLAND 02891
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (401) 348-1200
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N/A
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Former name, former address and former fiscal year, if changed since
last report
Page 1 of 2 Pages
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WASHINGTON TRUST BANCORP, INC.
FORM 8-K
Item 5. Other Events
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On February 28, 1994, the Federal Deposit Insurance
Corporation (FDIC), the primary federal regulator of the
Registrant's subsidiary bank, agreed to release the
subsidiary bank from a January 1993 board of directors
resolution regarding the payment of dividends and other
matters.
The January 1993 resolution stated that the subsidiary bank
would not pay any dividend to the Registrant unless it
provided advance notification to its federal and state
regulators and received no reasonable objection. The board
resolution also required the subsidiary bank to continue to
maintain plans and procedures for the maintenance of asset
quality, risk control and capital adequacy. The resolution
had been accepted by the FDIC pursuant to the termination of
a 1991 memorandum of understanding which required the
subsidiary bank to obtain prior regulatory approval for
payment of dividends to the Registrant.
Item 7. Financial Statements and Other Exhibits
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None
SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.
WASHINGTON TRUST BANCORP, INC.
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(Registrant)
March 15, 1994 By: David V. Devault
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David V. Devault
Vice President and
Chief Financial Officer
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