04:12 PM EST, 12/16/2024 (MT Newswires) -- Washington Trust Bancorp ( WASH ) said Monday it closed an underwritten public offering of common shares for net proceeds of $71 million.

The offering covered the sale of about 2.2 million shares at $34 a piece, including 286,764 shares sold as over-allotment option, according to the company.

Net proceeds will be used for general corporate purposes to support growth and capital generation, Washington Trust added.