Washington Trust Bancorp

Washington Trust Bancorp, Inc. operates as a bank holding company. The firm engages in the provision of financial services, including business banking, personal banking and wealth management and trust services. It operates through the following segments: Commercial Banking and Wealth Management Services. The Commercial Banking segment includes commercial, residential and consumer lending activities, mortgage banking activities, deposit generation, cash management activities and direct banking activities, which include the operation of ATMs, telephone and internet banking services and customer support and sales. The Wealth Management Services segment includes investment management, financial planning, personal trust and estate services, including services as trustee, personal representative, custodian and guardian and institutional trust services are also provided, including fiduciary services. The company was founded in 1984 and is headquartered in Westerly, RI.

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Washington Trust Bancorp reports solid Q4 earnings amidst leadership changes

Washington Trust Bancorp's Q4 2022 earnings call highlighted solid financial performance with net income of $16.6 million and strong loan growth.
The company faced challenges in non-interest income drivers and expenses, but maintained a focus on talent investment and technology enhancements.
Opportunities lie in improving revenue streams, enhancing customer experience, and leveraging the DE&I initiatives for long-term growth and stability.
Overall, the company showcased resilience in managing financial metrics and leadership transitions, setting a positive tone for future growth and innovation.

Washington Trust Bancorp reports Q1 earnings dip but eyes growth

Washington Trust Bancorp's Q1 performance reflects a mixed financial picture with lower net income but steady loan growth.
The company's focus on customer experience through new branches and technology investments bodes well for future growth.
While facing challenges in asset yields and funding costs, Washington Trust Bancorp remains optimistic about its ability to navigate economic headwinds.

Washington Trust Bancorp achieves record assets and solid financials

Washington Trust Bancorp delivered solid financial performance in Q2 2023, driven by loan growth, deposit expansion, and strong wealth management.
While facing challenges in net interest income and sustaining loan growth, the company's focus on digital innovation and community service remains a strength.
Opportunities lie in further branch expansion, leveraging mortgage revenue growth, and enhancing digital offerings to drive future success.
Overall, Washington Trust Bancorp's strong asset quality and capital position position it well for continued growth and resilience in the market.

Washington Trust Bancorp reports solid Q3 earnings amidst economic challenges

Washington Trust Bancorp's Q3 performance reflects a balanced approach to revenue generation and cost management.
Strong credit quality and controlled expenses position the company well amidst economic challenges and market uncertainties.
Opportunities for growth exist through deposit expansion, branch openings, and strategic initiatives in mortgage banking.
Addressing challenges in loan growth and wealth management will be key to sustaining profitability and driving future success.

Washington Trust Bancorp reports Q4 earnings, eyes growth opportunities

Washington Trust Bancorp's Q4 2023 performance reflects a mixed financial outcome with a decline in noninterest income but growth in total loans. The company's strategic focus on technology, capital credit, and deposits positions it well for potential improvements in external conditions in 2024.

Washington Trust Bancorp reports solid Q1 performance and eyes growth

Washington Trust Bancorp's Q1 2024 performance showcased strength in financials and asset quality, with a focus on balance sheet resilience and deposit growth. Challenges include expense increases and net charge-offs, while opportunities lie in deposit-related enhancements and positive trends in office properties. The company is well-positioned to capitalize on growth opportunities.

Washington Trust Bancorp posts solid Q2 results amidst growth opportunities

Washington Trust Bancorp delivered a solid performance in Q2 2024, reporting a net income of $10.8 million and showcasing stability in its revenue streams. The company's focus on wealth management and mortgage banking segments contributed to revenue growth.
Despite challenges in loan growth and potential economic uncertainties, the bank managed its expenses efficiently and maintained strong asset quality metrics. Washington Trust Bancorp's ability to navigate market conditions and capitalize on opportunities positions it well for future growth.
Moving forward, Washington Trust Bancorp has opportunities to drive loan growth, enhance interest income, and further strengthen its market position. By leveraging its strengths and addressing challenges effectively, the company can sustain its financial performance and drive value for stakeholders.

Washington Trust Bancorp reports stable Q3 performance and eyes margin expansion in 2025

Washington Trust Bancorp's Q3 performance reflects stability, strong fee businesses, and growth potential in mortgage and commercial pipelines.
While challenges such as deposit costs and delinquent loans exist, the company's focus on margin expansion and risk management presents opportunities for future success.
Overall, the earnings call highlights a resilient financial performance, strategic opportunities for growth, and ongoing challenges that require attention and management.

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WESTERLY, R.I. , Dec. 12, 2022 /PRNewswire/ -- Washington Trust Bancorp, Inc. (Nasdaq: WASH) today announced that the Corporation's Board of Directors adopted a stock repurchase program ("2023 Stock Repurchase Program"), which authorizes the repurchase of up to 850,000 shares, or approximately 5%, of the Corporation's common stock.

Washington Trust Bancorp, Inc. Announces 2023 Stock Repurchase Program

NEW HAVEN, Conn. , Nov. 21, 2022 /PRNewswire/ -- The Washington Trust Company, one of the Northeast's premier financial service companies since 1800, announced today the expansion of its Connecticut presence with the opening of a Commercial Lending office at 265 Church Street, Suite 1010, New Haven, adjacent to its Washington Trust Wealth Management office in Suite 1006.

Washington Trust Expands Connecticut Presence with New Office and Experienced Team in New Haven

WESTERLY, R.I. , Nov. 17, 2022 /PRNewswire/ -- The Washington Trust Company  was recently named one of the nation's Best Banks to Work For by American Banker  magazine as part of its annual list organized by the Best Companies Group.

American Banker Names Washington Trust Best Bank to Work For

Bank Event Provides Data Security and Environmentally Safe Solution WESTERLY, R.I. , Nov. 10, 2022 /PRNewswire/ -- The Washington Trust Company hosted 12 Community Shred Days in 2022, which resulted in the shredding and recycling of 36 tons of sensitive documentation such as tax returns, financial statements, and other materials for RI and CT residents.

Washington Trust Shred Days Recycle 36 Tons

Washington Trust Bancorp, Inc. (NASDAQ:WASH ) Q3 2022 Earnings Conference Call October 25, 2022 8:30 AM ET Company Participants Elizabeth Eckel - Senior Vice President, Chief Marketing & Corporate Communications Officer Ned Handy - Chairman & Chief Executive Officer Ron Ohsberg - Senior Executive Vice President, Chief Financial Officer & Treasurer Mark Gim - President & Chief Operating Officer Bill Ray - Senior Executive Vice President and Chief Risk Officer Conference Call Participants Mark Fitzgibbon - Piper Sandler Damon DelMonte - KBW Laurie Hunsicker - Compass Point Operator Good morning and welcome to Washington Trust Bancorp Inc.'s Conference Call. My name is Elliot and I'll be your operator today.

Washington Trust Bancorp, Inc. (WASH) Q3 2022 - Earnings Call Transcript

Washington Trust (WASH) delivered earnings and revenue surprises of 3.85% and 5.56%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

Washington Trust Bancorp (WASH) Q3 Earnings and Revenues Top Estimates

WESTERLY, R.I. , Oct. 24, 2022 /PRNewswire/ -- Washington Trust Bancorp, Inc. (Nasdaq: WASH), parent company of The Washington Trust Company, today announced third quarter 2022 net income of $18.7 million, or $1.08 per diluted share, compared to net income of $20.0 million, or $1.14 per diluted share, for the second quarter of 2022.

Washington Trust Reports Third Quarter 2022 Earnings

WESTERLY, R.I. , Oct. 13, 2022 /PRNewswire/ -- Washington Trust Bancorp, Inc. (NASDAQ: WASH), the publicly owned holding company of The Washington Trust Company, will release third quarter 2022 earnings and host a conference call with the Corporation's executives as follows: Earnings Release:                        Monday, October 24, 2022, After Market Closes Conference Call:                        Tuesday, October 25, 2022, 8:30 a.m.

Washington Trust Announces Date of Third Quarter 2022 Earnings Release, Conference Call and Webcast

Bank Files Applications with Intent to Open Three Branches in 2023 WESTERLY, R.I. , Oct. 5, 2022 /PRNewswire/ -- The Washington Trust Company has recently submitted applications to establish branch offices in the following three locations:  236 County Road, Barrington, RI 02806 1917 Westminster Street, Providence, RI 02909 371 Putnam Pike, Smithfield, RI 02828 All of the locations are subject to Federal, State, local, and regulatory approvals.

Washington Trust Announces RI Branch Expansion

WESTERLY, R.I. , Aug. 22, 2022 /PRNewswire/ -- The Washington Trust Company today announced that its employees, located in offices throughout RI, MA and CT, performed more than 222 Acts of Kindness in 22 days in celebration of the company's 222nd anniversary.

Washington Trust Employees Perform 222 Acts of Kindness in 22 Days In Celebration of Company's 222nd Anniversary

Washington Trust Bancorp has grown its earnings by 50% in recent years, however, the share price has been flat over the same stretch. I believe this valuation compression won't last forever and that shares are positioned for another move higher.

Washington Trust Bancorp: Steady Growth, 3.9% Dividend Yield

Expands Northern RI Presence CUMBERLAND, R.I. , Aug. 9, 2022 /PRNewswire/ -- Washington Trust hosted a ribbon-cutting ceremony today to officially open its 25th branch location, located at 1900 Mendon Road in Cumberland, RI.

Washington Trust Opens Cumberland, RI Branch

CUMBERLAND, R.I. , Aug. 2, 2022 /PRNewswire/ -- The Washington Trust Company announced that Crystal Thompson has been appointed Assistant Vice President and Branch Manager of the Bank's new Cumberland, Rhode Island branch, which is scheduled to open in early August of 2022 at 1900 Mendon Road.

Washington Trust Names Crystal Thompson Manager of New Cumberland Branch

Washington Trust (WASH) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

Washington Trust (WASH) Upgraded to Strong Buy: Here's What You Should Know

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Washington Trust Bancorp, Inc. (NASDAQ:WASH ) Q2 2022 Earnings Conference Call July 26, 2022 8:30 AM ET Company Participants Elizabeth B. Eckel - Senior Vice President, Chief Marketing & Corporate Communications Officer Ned Handy - Chairman & Chief Executive Officer Ron Ohsberg - Senior Executive Vice President, Chief Financial Officer & Treasurer Mark Gim - President & Chief Operating Officer Conference Call Participants Mark Fitzgibbon - Piper Sandler Damon DelMonte - KBW Laurie Hunsicker - Compass Point Operator Good morning and welcome to Washington Trust Bancorp Inc.'s Conference Call.

Washington Trust Bancorp, Inc. (WASH) CEO Ned Handy on Q2 2022 Results - Earnings Call Transcript

Washington Trust (WASH) delivered earnings and revenue surprises of 28.09% and 0.06%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

Washington Trust Bancorp (WASH) Q2 Earnings Surpass Estimates

WESTERLY, R.I. , July 25, 2022 /PRNewswire/ -- Washington Trust Bancorp, Inc. (Nasdaq: WASH), parent company of The Washington Trust Company, today announced second quarter 2022 net income of $20.0 million, or $1.14 per diluted share, compared to net income of $16.5 million, or $0.94 per diluted share, for the first quarter of 2022.

Washington Trust Reports Second Quarter 2022 Earnings

WESTERLY, R.I. , July 7, 2022 /PRNewswire/ -- Washington Trust Bancorp, Inc. (NASDAQ: WASH), the publicly owned holding company of The Washington Trust Company, will release second quarter 2022 earnings and host a conference call with the Corporation's executives as follows: Earnings Release:Conference Call:Participant Dial In:International Dial In:Access CodeWebcast: Teleconference Replay: Replay Number US:Replay International:Access Code:  Monday, July 25, 2022, After Market ClosesTuesday, July 26, 2022, 8:30 a.m.

Washington Trust Announces Date of Second Quarter 2022 Earnings Release, Conference Call and Webcast

WESTERLY, R.I. , June 16, 2022 /PRNewswire/ -- The Washington Trust Company's Community Shred Days resulted in the shredding of 25 tons of sensitive documentation, such as tax returns, financial statements and other materials, for local residents.

Washington Trust Shreds More Than 25 Tons of Materials at Free Community Shred Days

WESTERLY, R.I. , June 13, 2022 /PRNewswire/ -- The 2022 Best Places to Work honorees were recognized on Wednesday, June 8 in a ceremony at the Crowne Plaza in Warwick, RI and Washington Trust was named one of the 2022 Best Places to Work in Rhode Island in the enterprise employer category by Providence Business News for the 12th year in a row.

Washington Trust Named as One of Rhode Island's Best Places to Work for Twelfth Consecutive Year

WESTERLY, R.I. , May 3, 2022 /PRNewswire/ -- Washington Trust is offering free online financial literacy resources and tools to schools and students throughout Rhode Island through Banzai, an award-winning program and content library.

Washington Trust Offers Free Financial Literacy Program to Rhode Island Schools and Students

Washington Trust Bancorp, Inc. (NASDAQ:WASH ) Q1 2022 Earnings Conference Call April 25, 2022 10:00 AM ET Company Participants Elizabeth B. Eckel - Senior Vice President, Chief Marketing & Corporate Communications Officer Ned Handy - Chairman & Chief Executive Officer.

Washington Trust Bancorp, Inc. (WASH) CEO Ned Handy on Q1 2022 Results - Earnings Call Transcript

Washington Trust (WASH) delivered earnings and revenue surprises of 3.30% and 2.15%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?

Washington Trust Bancorp (WASH) Surpasses Q1 Earnings Estimates

WESTERLY, R.I. , April 25, 2022 /PRNewswire/ -- Washington Trust Bancorp, Inc. (Nasdaq: WASH), parent company of The Washington Trust Company, today announced first quarter 2022 net income of $16.5 million, or $0.94 per diluted share, compared to net income of $20.2 million, or $1.15 per diluted share, for the fourth quarter of 2021.

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