WESTERLY — John T. Ruggieri, vice president and chief financial officer of Gilbane Inc., the Providence-based construction and real estate development company, has been elected to the board of directors of Washington Trust Bancorp Inc. He succeeds Victor J. Orsinger II, a Westerly lawyer who retired after serving on the board for 36 years.
With Orsinger’s retirement, Kathleen McKeough, retired senior vice president, human resources, with GTECH Holdings Corporation, was appointed lead director of the corporation. McKeough was re-elected to the board, along with Edward O. Handy III, chairman and chief operating officer; and Katherine W. Hoxsie, CPA, retired vice president, Hoxsie Buick-Pontiac-GMC Truck Inc. Their terms end in 2022.
The corporation's annual meeting was held on Tuesday, a day after it released first quarter earnings. Washington Trust announced net income of $17.5 million, or $1 per diluted share, compared with $16.2 million, or 93 centers per diluted share, for the first quarter of 2018. The shares, which are lightly traded, closed Thursday at $50.42, down 52 cents; the stock is at about the midpoint of its 52-week range.