SECURITIES AND EXCHANGE COMMISSION
                             Washington, D. C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


       Date of Report (Date of earliest event reported) February 23, 1999


                         WASHINGTON TRUST BANCORP, INC.
             (Exact name of registrant as specified in its charter)



         RHODE ISLAND                     0-13091              05-0404671
    State or other jurisdiction of      (Commission         (I.R.S. Employer
    incorporation or organization)     File Number)       Identification No.)



      23 Broad Street, Westerly, Rhode Island                   02891
- ---------------------------------------------------- ---------------------------
     (Address of principal executive offices)                (Zip Code)



        Registrant's telephone number, including area code (401) 348-1200



                                        N/A
- --------------------------------------------------------------------------------
Former name, former address and former fiscal year, if changed since last report





WASHINGTON TRUST BANCORP, INC.
FORM 8-K


Item 5.  Other Events
         On February 23, 1999,  Washington  Trust Bancorp,  Inc.,  parent of The
         Washington  Trust  Company,  announced  that  is  signed  a  definitive
         agreement to acquire PierBank, a Rhode Island-chartered  community bank
         with  assets  of  $59.4  million,   which  is  headquartered  in  South
         Kingstown, Rhode Island. Washington Trust Bancorp, Inc., with assets of
         $935 million,  is  headquartered in Westerly,  Rhode Island.  Under the
         terms of the  agreement,  PierBank  will be merged into The  Washington
         Trust Company.

         Attached hereto as Exhibit 99 is the press release  announcing the
         agreement,  the terms of which are  incorporated  herein by
         reference.



Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits
         a.       None
         b.       None
         c.       Exhibits
                  Exhibit No.    Description 
               
                      99         Press release of Washington Trust Bancorp, Inc.
                                 issued February 23, 1999.


                                   SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.

                                               WASHINGTON TRUST BANCORP, INC.
                                                        (Registrant)



Dated:  March 2, 1999                 By:      David V. Devault             
                                      ------------------------------------
                                      Name:    David V. Devault
                                      Title:   Executive Vice President,
                                               Treasurer and
                                               Chief Financial Officer
                                               (principal financial officer)