Washington Trust Bancorp Inc
NASDAQ:WASH
Washington Trust Bancorp Inc
Washington Trust Bancorp, Inc. operates as a bank holding company. The company is headquartered in Westerly, Rhode Island and currently employs 623 full-time employees. The Bank provides a range of banking and financial services to individuals and businesses, including commercial, residential and consumer lending, retail and commercial deposit products, and wealth management and trust services. Its lending activities include commercial loans, residential real estate loans and consumer loans. The Bank offers a range of deposit products with a variety of interest rates and terms to consumer, commercial, non-profit and municipal deposit customers. Its deposit accounts consist of noninterest-bearing demand deposits, interest-bearing demand deposits, negotiable order of withdrawal (NOW) accounts, money market accounts, savings accounts and time deposits. The company provides a range of wealth management services, including investment management, holistic financial planning services, personal trust and estate services, and institutional trust services.
Washington Trust Bancorp, Inc. operates as a bank holding company. The company is headquartered in Westerly, Rhode Island and currently employs 623 full-time employees. The Bank provides a range of banking and financial services to individuals and businesses, including commercial, residential and consumer lending, retail and commercial deposit products, and wealth management and trust services. Its lending activities include commercial loans, residential real estate loans and consumer loans. The Bank offers a range of deposit products with a variety of interest rates and terms to consumer, commercial, non-profit and municipal deposit customers. Its deposit accounts consist of noninterest-bearing demand deposits, interest-bearing demand deposits, negotiable order of withdrawal (NOW) accounts, money market accounts, savings accounts and time deposits. The company provides a range of wealth management services, including investment management, holistic financial planning services, personal trust and estate services, and institutional trust services.
Earnings Surge: Net income rose to $16 million ($0.83 per share) in Q4, a major jump from $10.8 million ($0.56 per share) last quarter, and adjusted EPS was up 41% year-over-year.
Margin Expansion: Net interest margin improved to 2.56%, up 16 basis points from Q3 and 61 basis points year-over-year, helped by higher in-market deposits and less reliance on wholesale funding.
Deposit Growth: In-market deposits increased 1% quarter-over-quarter and 9% year-over-year, while wholesale funding dropped 21%.
Wealth & Loan Opportunities: Wealth management revenues grew 5% and new teams were added in both institutional banking and commercial lending, aiming for higher-quality loans and more deposits.
Loan Growth Outlook: Management expects overall loan growth of about 5% in 2026, mainly driven by commercial real estate and C&I lending.
Expense Increase: Noninterest expenses rose 6% in Q4, partly due to staff investments and a $1 million charitable contribution, with further increases expected in early 2026.
Strong Credit Quality: Asset quality improved, with nonaccruing loans at just 25 basis points, no nonaccruing commercial loans, and net recoveries in the quarter.
Capital Position: Dividend was maintained at $0.56 per share, and share buybacks remain under review with 582,000 shares still authorized.
