NEW HAVEN, Conn., Nov. 21, 2022 /PRNewswire/ -- The Washington Trust Company, one of the Northeast's premier financial service companies since 1800, announced today the expansion of its Connecticut presence with the opening of a Commercial Lending office at 265 Church Street, Suite 1010, New Haven, adjacent to its Washington Trust Wealth Management office in Suite 1006. The Bank also added three new vice presidents to the New Haven Commercial Lending office to develop and maintain commercial banking relationships throughout Connecticut.
"With the opening of the New Haven Commercial Lending office, Washington Trust can support more businesses and municipalities by continuing to provide commercial & industrial (C&I) loans, commercial real estate (CRE) financing, and cash management services across the state," says Edward O. "Ned" Handy III, Washington Trust Chairman & CEO. "This expansion is vital to the Connecticut market as we believe there is growing demand for a bank like Washington Trust that offers a full line of deposit, lending, wealth management, and digital banking services, along with a high level of personal customer service."
Washington Trust has provided financing to Connecticut businesses for over 200 years and has increased CRE and C&I financing in the New Haven/Hartford area in the last few years. Most recently, the Bank has provided $27 million in financing to Rocky Hill Properties, LLC in Rocky Hill, CT; $16.395 million to V20 Group-related entity in Darien, CT; and $1.4 million to DCR Anderson WAG, LLC in Waterbury, CT.
Washington Trust Adds Experienced Team of Commercial Bankers
Three new vice presidents join Washington Trust's Commercial Banking team that now has a total of seven employees dedicated to the New Haven Commercial Lending office.
Earnest Clayton recently joined Washington Trust as Vice President, Commercial Real Estate. Clayton has more than a decade of commercial lending experience, including C&I credit analysis, portfolio management, construction loan monitoring and SBA loan underwriting. He previously served as Vice President, Senior Commercial Credit Analyst, with Patriot Bank in Milford, CT.
Lee Fernandez has more than 20 years of commercial real estate and banking experience and has been appointed Vice President, Commercial Real Estate. Fernandez has portfolio management experience in C&I, CRE and small business lending and joins Washington Trust from Ion Bank in Naugatuck, CT, where he served as Senior Vice President of Commercial Lending.
Jeremy Canestri will serve as Vice President, Cash Management, having joined Washington Trust from Webster Bank, N.A. Canestri has more than 15 years of banking experience, with 10 years of specialization in cash management operations and product development.
"We have a terrific team of commercial bankers who live, work, and have experience in the Connecticut market," says Handy. "We look forward to being a key component to the growth and prosperity of the Connecticut economy."
For more information about Washington Trust Commercial Banking, visit: http://www.washtrust.com/commercial.
ABOUT WASHINGTON TRUST®
Founded in 1800, Washington Trust is the oldest community bank in the nation and one of the Northeast's premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, mortgage banking, personal banking and wealth management and trust services through its offices located in Rhode Island, Connecticut and Massachusetts. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ: WASH). Additional information on Washington Trust and its subsidiaries can be found at https://www.washtrust.com/.
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SOURCE The Washington Trust Company
