Our Vision: To Be The Best Community Bank And Trust Company In New England Our Mission: Contents As an independent financial  services company, we will provide the highest value to our shareholders by: Delivering superior service  to our customers, Providing financial and  public service leadership in  our communities, Fostering a well-trained and  highly motivated staff. This report contains certain statements that may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Corporation’s actual results, performance or achievements could  differ materially from those projected in the forward- looking statements as a result, among other factors,  of changes in general national or regional economic conditions, changes in interest rates, reductions in the market value of trust and investment assets under management, reductions in deposit levels necessitating increased borrowing to fund loans and investments, changes in the size and nature of the Corporation’s competition, changes in loan default and chargeoff rates and changes in the assumptions used in making such forward-looking statements. 2002 Financial Highlights................................... inside cover Corporate Highlights............................................ inside cover Letter to Shareholders ................................................. one New Markets ................................................................ two Business Banking ....................................................... four Phoenix Investment Management ............................ eight Trust & Investment Services ..................................nine Personal Banking ........................................................ ten Consolidated Balance Sheets .................................... twelve Consolidated Statements of Income ....................... thirteen Consolidated Statements of Changes  in Shareholders’ Equity .......................................... fourteen Consolidated Statements of Cash Flows ................... fifteen Independent Auditors’ Report .................................. sixteen Management’s Responsibility for  Financial Statements ............................................. seventeen Corporate Directory ................................................. eighteen Shareholder Overview............................................... twenty Washington Trust Locations ........................... inside back cover