Washington Trust Sells Two Branches

Thu., May 13, 1999

From Staff

Washington Trust Bank has agreed to sell its Bridgeport and Grand Coulee branches to North Cascades National Bank.

Terms were not disclosed.

Washington Trust Vice President Lea Werner said the branches’ 11 employees will be retained by Chelan, Wash.-based North Cascades, which also operates branches in Omak, Twisp and Pateros.

The bank, established in 1986, has $110 million in assets.

The Bridgeport and Grand Coulee branches serve 3,500 customers and hold $32.3 million in deposits.

Werner said Washington Trust decided to sell the branches to concentrate on growing its eight branches in Wenatchee, East Wenatchee, Quincy, Ephrata and Moses Lake.

“We felt that it was a good move strategically for us,” she said.

Washington Trust, a wholly owned subsidiary of W.T.B. Financial Corp., has $1.5 billion in assets.

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Washington Trust Sells Two Branches

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