Applications / Mortgage Analytics / Lenders / Rhode Island / The Washington Trust Company, of Westerly
Westerly, RI · State non-member bank · FDIC · $6.6 billion assets · 1,290 loans in 2025
The Washington Trust Company, of Westerly's data, $215Buy the data, $2,110Get Jenner, the SAS-compatible software
1,290
loans originated, 2025
2,241
applications, 2025
5
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
The Washington Trust Company, of Westerly is a Rhode Island bank that ranks 8 of 475 lenders in Providence and grew 14% in 2025, adding share in Portland, Maine, and Worcester.
Originations rose 14% to 1,290, against 10% for similar lenders (state non-member banks making between half and twice as many loans) and for the whole market. It also bought 122 loans, up from 51, where the typical peer bought none. Volume remains below the 2,583 loans of 2020.
LMI (low- and moderate-income) areas took 22.1% of its loans, against 14.8%, higher than at nearly nine in ten similar lenders; majority-minority areas took 19.6%, against 7.2%. Five years before, those shares were 6.0% and 2.9%. LMI borrowers took 22.6%, lower than peers' 27.4%; its larger loans, typically $245,000 against $195,000, are one possible reason.
It ranked 8 of 475 lenders in Providence, its market since before 1990, with an unchanged 2.4%. Its share rose 1.0 points to 1.0% in Portland, where it ranked 27 of 364, and 0.6 points to 0.7% in Worcester, where it ranked 40 of 451.
Home purchases were 47.0% of its loans, home improvement 24.1% and refinances 21.1%. FHA loans (insured by the Federal Housing Administration) were 6.4%, against 2.2% at peers, and jumbo loans (larger than the conforming limit) 5.2%, against 2.5%. Only 0.3% were higher-priced (a rate well above the average for similar loans), against 1.6%.
Questions the data can answer next
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. The Washington Trust Company, of Westerly took 2,241 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 47.0% · Home improvement 24.1% · Refinance 21.1% · Other 7.8%
Conventional 92.1% · FHA 6.4% · VA 1.5% · of 1,290 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| Rhode Island | 1,040 | 80.6% |
| Massachusetts | 158 | 12.2% |
| Connecticut | 83 | 6.4% |
| New Hampshire | 5 | 0.4% |
| Maine | 4 | 0.3% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Providence-Warwick | 1,064 |
| Boston | 59 |
| Cambridge-Newton-Framingham | 50 |
| Norwich-New London-Willimantic | 48 |
| Worcester | 25 |
| Hartford-West Hartford-East Hartford | 16 |
| Bridgeport-Stamford-Danbury | 5 |
| Barnstable Town | 4 |
| New Haven | 4 |
| Portland-South Portland | 4 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300HKYBSATM44Q425 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 816603 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 323623 | 1990–2017 |
Established 1 January 1800. Reported under HMDA 1990-2025.
Mergers, name changes, data editions and corrections: The Washington Trust Company, of Westerly's data.
The Washington Trust Company, of Westerly's data
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