WASH
Washington Trust Bancorp, Inc.30.75
-0.04-0.13%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
FY Q3 '25
Key Stats
Market Cap
589.02MP/E (TTM)
-Basic EPS (TTM)
-1.66Dividend Yield
0.07%Recent Filings
10-Q
Q3 FY2025 results
Washington Trust posted Q3 net income of $10.8M, down 1% y/y yet steady on $38.8M net interest income (up 20% y/y, NIM 2.40% from 1.85%) as deposit costs fell while funding mix improved. Wealth revenues hit $10.4M (up 4% y/y), mortgage banking $3.5M (up 22%); Q3 provision spiked to $6.8M on $11.3M commercial charge-offs (derived). Deposits grew $107M to $5.2B, FHLB debt down $334M to $791M, equity at $533M. Repurchased 247K shares for $6.7M. CRE office weighs on credit.
8-K
Q3 earnings dip on charge-offs
Washington Trust posted Q3 net income of $10.8M, or $0.56/share, down from Q2's $13.2M after $11.3M charge-offs on two commercial loans—a telecom bankruptcy and office sale. Net interest income climbed 4% to $38.8M with margin at 2.40%; in-market deposits surged 4% to $5.2B while nonaccruals plunged to $14M. Growth investments paid off. Credit quality improved sharply.
8-K
Takes $11.3M loan charge-offs
Washington Trust Bancorp took $11.3 million in charge-offs on two commercial loans, driving a $7.0 million provision for credit losses in Q3 2025. A $8.3 million hit came from a telecom contractor's bankruptcy; $3.0 million from selling a nonaccrual CRE loan. Nonaccruals plunged to $1.0 million from $14.0 million. Credit cleaned up fast.
8-K
Resumes stock buybacks
Washington Trust Bancorp re-engaged its stock repurchase program on August 13, 2025, at the BofA SMID Cap Conference, after CEO Edward Handy paused it post-July 22 earnings call amid shifting market conditions. Details await the Q3 10-Q. Repurchases hinge on ongoing market monitoring. Forward-looking risks include economic volatility.
10-Q
Q2 FY2025 results
Washington Trust Bancorp swung to net income of $13.2M in Q2 FY2025 ended June 30, 2025, up 22% y/y from $10.8M, with diluted EPS of $0.68 (reconciles to 19,374K diluted shares). Net interest income jumped 18% y/y to $37.2M on NIM expansion to 2.36% (derived), fueled by balance sheet repositioning that trimmed high-cost FHLB advances and brokered deposits while boosting securities yields. Wealth revenues grew 5% y/y; provision edged up to $600K amid stable loans at $5.1B. Q2 operating cash flow not disclosed in the 10-Q. Ended with $44M cash, $1.0B FHLB advances (4.47% weighted rate), and $987M FHLB availability. CRE office weighs on asset quality.
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