W
WASHINGTON TRUST BANCORP INC
Period
FY 2025
Revenue
—
Net Income
$52.24M
Total Assets
$6.62B
Equity
$543.58M
Shares Out
19.07M
Op. Cash Flow
$80.31M
Business
Washington Trust Bancorp is a bank holding company providing commercial, residential and consumer lending, retail and commercial deposit products, and wealth management and trust services through its subsidiary Washington Trust Company and registered investment adviser. The company operates branch offices in Rhode Island, Connecticut and Massachusetts, serving southern New England as its primary market. Lending comprises a substantial portion of total assets, with deposits as the primary funding source and wealth management representing a meaningful business line.
Summary from 10-K filed 2026-02-24
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Interest and fees on loans | 270 | 299 | 270 | 169 | 142 | |
| Interest on mortgage loans held for sale | 3 | 2 | 980,000 | 1 | 2 | |
| Taxable interest on debt securities | 37 | 28 | 29 | 22 | 14 | |
| Nontaxable interest on debt securities | 30,000 | 8,000 | 0 | 0 | 0 | |
| Dividends on Federal Home Loan Bank stock | 3 | 5 | 3 | 548,000 | 436,000 | |
| Other interest income | 6 | 7 | 5 | 2 | 181,000 | |
| Interest and dividend income | 318 | 341 | 309 | 194 | 158 | |
| Deposits | 124 | 146 | 120 | 26 | 12 | |
| Federal Home Loan Bank advances | 40 | 65 | 50 | 12 | 4 | |
| Junior subordinated debentures | 1 | 2 | 2 | 739,000 | 370,000 | |
| Interest expense | 165 | 212 | 172 | 38 | — | |
| Net interest income | 153 | 128 | 137 | 156 | 141 | |
| Provision for credit losses | 9 | 2 | 3 | −1 | — | |
| Net interest income after provision for credit losses | 144 | 126 | 134 | 157 | 146 | |
| Wealth management revenues | 41 | 39 | 36 | 39 | 41 | |
| Mortgage banking revenues | 12 | 11 | 7 | 9 | 29 | |
| Card interchange fees | 5 | 5 | 5 | 5 | 5 | |
| Service charges on deposit accounts | 3 | 3 | 3 | 3 | 3 | |
| Loan related derivative income | 2 | 467,000 | 1 | 3 | 4 | |
| Income from bank-owned life insurance | 3 | 3 | 3 | 3 | 3 | |
| Realized losses on securities, net | 0 | −31 | 0 | 0 | 0 | |
| Losses on sale of portfolio loans, net | 0 | −63 | 0 | 0 | — | |
| Gain on sale of bank-owned properties, net | 7 | 988,000 | 0 | — | — | |
| Other income | 2 | 4 | 1 | 2 | 3 | |
| Noninterest income | 76 | −28 | 56 | 63 | 87 | |
| Salaries and employee benefits | 92 | 86 | 82 | 84 | 87 | |
| Outsourced services | 17 | 16 | 15 | 14 | 13 | |
| Net occupancy | 11 | 10 | 10 | 9 | 8 | |
| Equipment | 4 | 4 | 4 | 4 | 4 | |
| Legal, audit and professional fees | 3 | 3 | 4 | 3 | 3 | |
| FDIC deposit insurance costs | 5 | 6 | 5 | 2 | 2 | |
| Advertising and promotion | 3 | 3 | 3 | 3 | 2 | |
| Amortization of intangibles | 762,000 | 826,000 | 843,000 | 860,000 | 890,000 | |
| Pension plan settlement charge | 6 | 0 | 0 | — | — | |
| Other expenses | 12 | 9 | 11 | 10 | 8 | |
| Noninterest expense | 152 | 137 | 134 | 129 | 135 | |
| Income (loss) before income taxes | 67 | −39 | 56 | 91 | 98 | |
| Income tax expense (benefit) | 15 | −11 | 8 | 19 | 21 | |
| Net income (loss) | 52 | −28 | 48 | 72 | 77 | |
| Net income (loss) available to common shareholders | 52 | −28 | 48 | 71 | 77 | |
| Weighted average common shares outstanding - basic | 19 | 17 | 17 | 17 | 17 | |
| Weighted average common shares outstanding - diluted | 19 | 17 | 17 | 17 | 17 | |
| Basic earnings (loss) per common share (in dollars per share) | 2.72 | −1.63 | 2.82 | 4.14 | 4.43 | |
| Diluted earnings (loss) per common share (in dollars per share) | 2.71 | −1.63 | 2.82 | 4.11 | 4.39 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and due from banks | 29 | 22 | 55 | 115 | 175 | |
| Interest-earning deposits with correspondent banks | 61 | 88 | 32 | — | — | |
| Short-term investments | 13 | 4 | 3 | 3 | 3 | |
| Mortgage loans held for sale, at fair value | 36 | 22 | 20 | — | — | |
| Mortgage loans held for sale, at lower of cost or market | 0 | 282 | 0 | — | — | |
| Premises and equipment held for sale, at lower of cost or market | 0 | 5 | 0 | — | — | |
| Available for sale debt securities, fair value | 940 | 916 | 1,000 | 994 | 1,043 | |
| Federal Home Loan Bank stock, at cost | 29 | 50 | 52 | 43 | 13 | |
| Total loans | 5,134 | 5,138 | 5,648 | — | — | |
| Less: allowance for credit losses on loans | 37 | 42 | 41 | — | — | |
| Net loans | 5,097 | 5,096 | 5,607 | — | — | |
| Premises and equipment, net | 25 | 27 | 32 | 32 | 29 | |
| Operating lease right-of-use assets | 36 | 27 | 29 | 27 | 27 | |
| Investment in bank-owned life insurance | 115 | 107 | 104 | 102 | 93 | |
| Goodwill | 64 | 64 | 64 | 64 | 64 | |
| Identifiable intangible assets, net | 4 | 3 | 4 | 5 | 5 | |
| Other assets | 171 | 219 | 201 | 194 | 125 | |
| Total assets | 6,622 | 6,931 | 7,203 | 6,660 | 5,851 | |
| Noninterest-bearing deposits | 595 | 662 | 694 | 859 | 945 | |
| Interest-bearing deposits | 4,675 | 4,454 | 4,654 | 4,160 | 4,035 | |
| Total deposits | 5,270 | 5,116 | 5,348 | 5,019 | 4,980 | |
| Federal Home Loan Bank advances | 626 | 1,125 | 1,190 | 980 | 145 | |
| Junior subordinated debentures | 23 | 23 | 23 | 23 | 23 | |
| Operating lease liabilities | 39 | 30 | 32 | 30 | 29 | |
| Other liabilities | 121 | 138 | 137 | 155 | 110 | |
| Total liabilities | 6,078 | 6,431 | 6,730 | 6,206 | 5,286 | |
| Commitments and contingencies (Note 21) | — | — | — | — | — | |
| Common stock | 1 | 1 | 1 | 1 | 1 | |
| Paid-in capital | 198 | 197 | 126 | 127 | 127 | |
| Retained earnings | 443 | 434 | 502 | 492 | 458 | |
| Accumulated other comprehensive loss | −79 | −119 | −141 | −158 | −20 | |
| Treasury stock, at cost | −19 | −13 | −15 | −9 | −1 | |
| Total shareholders equity | 544 | 500 | 473 | 454 | 565 | |
| Total liabilities and shareholders equity | 6,622 | 6,931 | 7,203 | 6,660 | 5,851 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net gain on sale of bank-owned property | −7 | −988,000 | 0 | 0 | — | |
| Depreciation of premises and equipment | 3 | 4 | 4 | 3 | 3 | |
| Net amortization of premiums and discounts on debt securities and loans | 1 | 1 | 1 | 3 | 3 | |
| Amortization of terminated cash flow hedge loss | 9 | 9 | 6 | 0 | — | |
| Share-based compensation | 3 | 2 | 2 | 3 | 3 | |
| Tax (expense) benefit from stock option exercises and other equity awards | −210,000 | −183,000 | −34,000 | 78,000 | 182,000 | |
| Deferred income tax expense (benefit) | 13 | −17 | −4 | 1 | 2 | |
| Net gains on loan sales, including changes in fair value | −10 | −9 | −5 | −7 | −28 | |
| Proceeds from sales of loans, net | 465 | 409 | 220 | 310 | 935 | |
| Loans originated for sale | −470 | −403 | −222 | −273 | −887 | |
| (Increase) decrease in operating lease right-of-use assets | 3 | 2 | −2 | −464,000 | 3 | |
| Increase (decrease) in operating lease liabilities | −3 | −2 | 2 | 547,000 | −3 | |
| (Increase) decrease in other assets | 8 | −11 | −3 | −31 | 39 | |
| Increase (decrease) in other liabilities | −939,000 | 7 | −18 | 34 | −40 | |
| Net cash provided by (used in) operating activities | 80 | 58 | 32 | 113 | 101 | |
| Purchases of mortgage-backed available for sale debt securities | −75 | −363 | −40 | −223 | −348 | |
| Purchases of other available for sale debt securities | −986,000 | −16 | −20 | −11 | −251 | |
| Proceeds from sale of mortgage-backed available for sale debt securities | 0 | 185 | 0 | 0 | — | |
| Proceeds from sale of other available for sale debt securities | 0 | 193 | 0 | 0 | 0 | |
| Maturities and principal payments of mortgage-backed available for sale debt securities | 85 | 71 | 72 | 116 | 338 | |
| Maturities and principal payments of other available for sale debt securities | 4 | 900,000 | 750,000 | 0 | 83 | |
| Net redemptions (purchases) of Federal Home Loan Bank stock | 20 | 2 | −8 | −30 | 17 | |
| Net (increase) decrease in loans | −11 | 166 | −537 | — | — | |
| Net proceeds from sale of portfolio loans | 283 | 0 | 0 | — | — | |
| Purchases of loans | −946,000 | −1 | −6 | −3 | −42 | |
| Proceeds from the sale of property acquired through foreclosure or repossession | 0 | 680,000 | 0 | 0 | 0 | |
| Purchases of premises and equipment | −2 | −4 | −5 | −6 | −3 | |
| Net proceeds from the sale of bank-owned property | 12 | 2 | 0 | 0 | 0 | |
| Purchases of bank-owned life insurance | −5 | 0 | 0 | −7 | −7 | |
| Proceeds from bank-owned life insurance | 0 | 0 | 2 | 0 | 2 | |
| Purchase of intangible asset in asset acquisition | −2 | 0 | 0 | — | — | |
| Equity investment in real estate limited partnership | −1 | −4 | −8 | −2 | 0 | |
| Purchases of other equity investments, net | −375,000 | −338,000 | −263,000 | −375,000 | −650,000 | |
| Net cash provided by (used in) investing activities | 305 | 231 | −551 | −999 | −241 | |
| Net increase (decrease) in deposits | 154 | −232 | 329 | 39 | 602 | |
| Proceeds from Federal Home Loan Bank advances | 1,857 | 2,385 | 3,515 | 3,156 | 1,294 | |
| Repayment of Federal Home Loan Bank advances | −2,356 | −2,450 | −3,305 | −2,321 | −1,743 | |
| Treasury stock purchased | −7 | 0 | −9 | −9 | 0 | |
| Net proceeds from issuance of common stock in public offering | 0 | 71 | 0 | 0 | — | |
| Net proceeds from stock option exercises and issuance of other equity awards, net of awards surrendered | −398,000 | −31,000 | −754,000 | −821,000 | — | |
| Cash dividends paid | −43 | −38 | −39 | −38 | −36 | |
| Net cash provided by (used in) financing activities | −396 | −265 | 491 | 826 | 116 | |
| Net increase (decrease) in cash and cash equivalents | −10 | 24 | −28 | −60 | −24 | |
| Loans charged-off | 15 | 2 | 577,000 | 184,000 | 663,000 | |
| Portfolio loans transferred to held for sale | 0 | 345 | 0 | 0 | — | |
| Loans transferred to property acquired through foreclosure or repossession | 0 | 0 | 683,000 | 0 | 0 | |
| Premises and equipment transferred to held for sale | 0 | 5 | 0 | 0 | — | |
| Commitment for equity investments in real estate limited partnerships | 15 | 6 | 3 | 8 | 0 | |
| Interest payments | 174 | 217 | 157 | 32 | 18 | |
| Income taxes paid, net of refunds | −142,000 | 7 | 10 | — | — |
Filings
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Frequently asked questions
What is WASHINGTON TRUST BANCORP INC's CIK number?
WASHINGTON TRUST BANCORP INC's SEC CIK number is 0000737468 (737468). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find WASHINGTON TRUST BANCORP INC's SEC filings?
All of WASHINGTON TRUST BANCORP INC's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did WASHINGTON TRUST BANCORP INC last report earnings?
WASHINGTON TRUST BANCORP INC (WASH) most recently filed an earnings 8-K with the SEC on Apr 20, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0000737468-26-000064). This is WASHINGTON TRUST BANCORP INC's most recent earnings filing of record — not a forecast of its next earnings date.
What is WASHINGTON TRUST BANCORP INC's most recent earnings 8-K?
WASHINGTON TRUST BANCORP INC's latest earnings 8-K (Item 2.02) was filed Apr 20, 2026 under accession 0000737468-26-000064. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
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