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) June 24, 1996
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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 3 Pages
WASHINGTON TRUST BANCORP, INC.
FORM 8-K
Item 5. Other Events
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On June 24, 1996, the Registrant announced that its Board of Directors
approved a program to repurchase up to 58,000 shares of its common
stock, or approximately 2% of its outstanding shares, from time to time
in the open market or in private transactions, based upon market
conditions.
For further information, reference is made to the Registrant's press
release dated June 24, 1996 attached hereto as Exhibit 99, and which is
incorporated herein by reference.
Item 7. Financial Statements and Other Exhibits
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Exhibit No. Description Page
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Exhibit 99 Washington Trust Bancorp, Inc. 3
Press Release Dated June 24, 1996
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)
June 24, 1996 By: David V. Devault
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David V. Devault
Vice President and
Chief Financial Officer
(principal financial officer)
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Exhibit 99
News Release
Contact: Joseph J. Kirby
Chairman and Chief Executive Officer
John C. Warren
President and Chief Operating Officer
Telephone: (401) 348-1200
Date: June 24, 1996
Release: IMMEDIATE
Washington Trust Bancorp, Inc. Announces Stock Repurchase Plan
Westerly, Rhode Island... Washington Trust Bancorp, Inc. (NASDAQ National
Market; Symbol: WASH), parent of The Washington Trust Company, today
announced that its Board of Directors has approved a program to repurchase up
to 58,000 shares of its common stock, or approximately 2% of its outstanding
shares. Shares will be repurchased form time to time in the open market or
in private transactions, based upon market conditions. There is no guarantee
as to the exact number of shares to be repurchased. The Corporation's plan
is to hold the repurchased shares as treasury stock to be used for general
corporate purposes.
"We view this as a means for enhancing shareholder value," stated John C.
Warren the President of Washington Trust. Joseph J. Kirby, Chairman and
Chief Executive Officer, added, "Our strong capital position affords us
an excellent opportunity to repurchase our stock. Additional
repurchases in the future may be considered based upon our earnings and
capital position."
Washington Trust Bancorp, Inc. is the parent of The Washington Trust Company
which operates six branch locations in southern Rhode Island and plans to open
its seventh full service branch office in North Kingstown, Rhode Island later
this year. The Bank also has a full service Trust and Investment Department
serving the region and recently opened a loan production office through a
subsidiary, The Washington Financial Company, in Mystic, Connecticut.
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Washington Trust Bancorp, Inc.
23 Broad Street * Westerly, Rhode Island * Telephone 401-348-1200 *
FAX 401-348-1386
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