Privately Owned. Locally Invested.
The Story of Washington Trust Bank
Since 1902, Washington Trust Bank has strived to provide quality service and financial stability for our customers. Four generations of Stanton family leadership later, we continue to focus on integrity and commitment to community.
As the oldest and largest privately-held commercial bank in the Northwest, with more than 40 financial centers and offices in Washington, Idaho and Oregon, we enjoy an advantage over our publicly-owned competitors. We base our decisions and policies on what’s happening right here in the Northwest—not in distant locales. Being independent, we are able to set our sights on long-term goals rather than quarterly results. We stay focused on doing the right things for our clients and our communities.
WTB Timeline
1902 Washington Trust Company Opened for Business
Wanting to start a bank that would offer a full line of services, J. Grier Long, a mortgage and investment specialist, Martin B. Connelly, a successful real estate man, and R.L.Webster, form Washington Trust Company.
1905 Checking Accounts Now Available
Washington Trust begins offering what was a new idea at the time in financial services…checking accounts!
1912 Time of Growth/Expansion
Washington Trust’s assets grow to more than one million dollars, but the country’s economy faces hard times. While scores of banks fail Washington Trust stays open and meets all withdrawals on demand.
1919 Stanton Family Purchases Controlling Interest in Washington Trust
After giving up his career as a meat packer, Mr. E.H. Stanton and his family purchase the controlling interest in Washington Trust. "Our efforts will be to make the Washington Trust Company second to none in the Inland Empire." –E.H. Stanton
1932 Headquarters Moved to 715 W. Sprague
Washington Trust adds a location at 715 Sprague Avenue just before the depression.
1933 Great Depression
8,000 banks fail, 25% of the labor force is unemployed and business across America is at a standstill. Washington Trust, however, stays open for business six days a week and meets every request for withdrawal on demand.
1941 Fred Stanton Becomes Bank President
After starting at the bank as an assistant messenger 22 years earlier and working his way up, Fred Stanton becomes the youngest bank president at the time, at the age of 54.
1942 Checkmaster Introduced
Washington Trust introduces Checkmaster—a service that allows customers to open checking accounts in person or by mail with as little as one dollar.
1950 First Drive-Up Window
Washington Trust opens the first drive-in branch in the Pacific Northwest. Under Fred Stanton’s leadership the bank looks toward expansion and by the 50’s, Washington Trust is a $54 million institution with four branch offices.
1951 Official Name Change
The bank changes its name from Washington Trust Company to Washington Trust Bank.
1962 Philip Stanton becomes bank President
Philip Stanton becomes Spokane’s youngest bank president at the age of 31. The bank installs one of the first data-processing systems in the country in a bank of its size.
1974 WTB 16-Story Office Building Opens
Washington Trust plays an instrumental role in the success of Expo ’74, an event that helps to shape Spokane’s future. Construction starts on a sixteen-story office tower and headquarters.
1979 14 Branches & $254 Million Assets
The bank has accumulated assets totaling $254 million and has fourteen branches.
1984 Governor's Award, Community Involvement
Washington Trust receives a prestigious governor’s award for outstanding community involvement.
1990 Peter F. Stanton Becomes President & CEO
Peter Stanton becomes the fourth generation in the family to be elected president of the bank at the age of 34.
1994 Movement into Central Washington
Washington Trust expands into central Washington after a merger with The Columbia Bank.
1996 Merger to Extend Services into Northern Idaho
Washington Trust grows again with another merger with our affiliate, Northern State Bank that extends our services to northern Idaho.
1997 Enhanced ATM’s and Telephone Bill Payment Introduced
For the convenience of WTB customers, an enhancement of services begins with an expanded call center, new ATMs and a telephone bill-paying service.
1998 Washington Trust Bank Website Launched
Washington Trust adds convenience for our customers with the addition of our website, watrust.com.
1999 Online Banking/Bill-Payment
Washington Trust begins offering online banking and bill paying products.
2000 Growth for Washington Trust
Washington Trust grows their presence in central Washington, the Columbia Basin, Idaho and Puget Sound. The bank receives the Inland Northwest Philanthropy Award. Jack Heath is appointed president and COO with Peter Stanton serving as Chairman and CEO.
2001 One of the Best Companies to Work For
Washington CEO Magazine selects Washington Trust as one of the “Best Companies to Work For."
2002 Celebrates a Century of Service
Washington Trust celebrates a century of service.
2003 Spokane Chamber of Commerce Agora Award
Washington Trust receives the Agora Award from the Spokane Chamber of Commerce. New features and enhancements are introduced to online banking, such as free online bill payment.
2004 Expansion into Oregon Markets
Washington Trust enters the Oregon market with the opening of a Portland private banking and commercial office and expands their markets in Western Washington and Southern Idaho with openings in Bellevue and Boise.
2006 Bloomsday Lead Sponsor
Washington Trust becomes the lead sponsor of Spokane’s Bloomsday, the largest timed road race in the country.
2009 Pinnacle Bank/Beaverton Oregon
Washington Trust acquires Pinnacle Bank in Beaverton, Oregon complementing our office in downtown Portland.
2010 Philip Stanton
Washington Trust and Spokane lose a great leader, father and man, Philip Stanton at the age of 80.
2011 Oregon Best Places to Work
Washington Trust is recognized as one of the top 100 “Best Companies to Work for in Oregon” by Oregon Business Magazine. The small business lending center is opened and becomes a preferred lender with the government’s Small Business Administration (SBA).
2013 WTB Retail Mobile Truck
Washington Trust Bank introduces the WTB mobile truck, giving them the power and flexibility to easily bring their bank and brand to new and current customers.
