Rhode Island's oldest bank is planning to buy one of the state's newest.

Washington Trust Bancorp, the parent of 199-year-old Washington Trust Co., said this week that it has an agreement to acquire PierBank for $13.7 million in stock.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.