THIS IS THE WASHINGTON TRUST BANK STORY
Our story begins in Spokane, Washington, 1902. It is the story of a family and a legion of loyal customers. It is also a story of a strong commitment to community service and the staying power of a privately held bank.
J. Grier Long, Martin B. Connelly, and R.L. Webster applied for a charter to open a new bank. It was granted on October 23, 1902, and the Washington Trust Company opened for business on November 3, 1902.
Washington Trust offered what was a new idea at the time in financial services—checking accounts.
After a few years in business, the bank saw both spectacular growth as well as hard times. Washington Trust’s assets grew to over one million dollars, but the country’s economy was facing hard times. While scores of banks failed, Washington Trust remained open.
The E.H. Stanton Family purchased the controlling interest in Washington Trust.
The stock market crashed and with it the entire economy came tumbling down.
8,000 banks failed, 25% of the labor force was unemployed and business across America was at a standstill. Washington Trust Bank, however, stayed open for business six days a week and met every request for withdrawals on demand.
Fred Stanton became President of the bank at age 54.
Washington Trust introduced Checkmaster—a service that allowed customers to open checking accounts in person or by mail with as little as one dollar.
Washington Trust changed the way Spokane customers went to the bank by opening the first drivein branch in the Pacific Northwest at Second Avenue and Wall Street.
Under Fred Stanton’s leadership the bank looked toward expansion, and Washington Trust became a $54 million institution with four branch offices.
Philip Stanton became Spokane’s youngest bank president in 1962 at the age of 31.
Spokane hosted the World’s Fair, Expo ’74. Continuing the bank’s strong commitment to community service, Philip Stanton and Washington Trust played an instrumental role in the success of Expo ’74, an event that helped shape Spokane’s future.
Washington Trust had grown to 14 branches and accumulated assets totaling $254 million.
Washington Trust received a prestigious Governor’s Award for outstanding community involvement.
Peter Stanton became the fourth generation of family to be elected president of the bank at the age of 34.
The bank began offering products and services electronically with its first website, ATMs, online banking and online bill payment.
Washington Trust extended service to Central Washington, Idaho, and the Puget Sound.
The bank received the Inland Northwest Philanthropy Award for its support to the communities it serves.
Jack Heath was appointed President and COO with Peter Stanton serving as Chairman and CEO.
Washington Trust celebrated its first century of service.
First office in Portland, OR opened.
Bellevue, WA office opened.
Washington Trust began offering mobile banking.
Washington Trust extended service to Pullman, WA.
Washington Trust marked 110 years of service to the communities of the Pacific Northwest.
THIS ISN’T WHERE OUR STORY ENDS; THIS IS JUST THE BEGINNING.