Washington Trust closes upsized stock offering raising ~$71M for balance sheet optimization

WASHINGTON TRUST BANCORP INC

Sold 2,198,528 shares total at $34.00 per share, including 286,764 from underwriters' option exercise.
Net proceeds to Corporation approximately $71.01 million after underwriting discounts.
Proceeds to support organic growth, balance sheet optimization including sale of lower-yielding loans and debt securities, and repayment of wholesale funding.
BofA Securities acted as sole book-running manager for the offering.

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