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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Earnings data Q4 2024

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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Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Washington Trust (WASH), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended March 2024.

Seeking Clues to Washington Trust (WASH) Q1 Earnings? A Peek Into Wall Street Projections for Key Metrics

WESTERLY, R.I. , April 12, 2024 /PRNewswire/ -- Washington Trust Bancorp, Inc. (NASDAQ: WASH), the publicly-owned holding company of The Washington Trust Company, will release first quarter 2024 earnings and host a conference call with the Corporation's executives as follows: Earnings Release: Monday, April 22, 2024, 8:00 a.m.

Washington Trust Announces Date of First Quarter 2024 Earnings Release, Conference Call and Webcast

WESTERLY, R.I. , Feb. 12, 2024 /PRNewswire/ -- Washington Trust Bancorp, Inc. (NASDAQ: WASH), announced the appointment of Debra M.

Washington Trust Appoints Debra M. Paul and Angel Taveras To Board of Directors

Washington Trust Bancorp's shares have achieved a 16.1% upside since October 2023, falling a bit short of the S&P 500. The bank experienced a decline in deposits in the final quarter of 2023, but loans and securities value increased. The institution's earnings and assets are average compared to similar companies, suggesting that shares are undervalued and warranting a 'buy' rating when factoring in current valuation.

Reassessing Washington Trust Bancorp

WESTERLY, R.I. , Feb. 2, 2024 /PRNewswire/ -- Washington Trust Bancorp, Inc. (NASDAQ:  WASH), the bank holding company for The Washington Trust Company, today announced that its 2024 Annual Meeting of Shareholders will be held virtually on April 23, 2024, at 11:00 a.m.

Washington Trust Bancorp, Inc. Announces Virtual Annual Shareholders Meeting

Washington Trust Bancorp, Inc. (WASH) Q4 2023 Earnings Call Transcript

The headline numbers for Washington Trust (WASH) give insight into how the company performed in the quarter ended December 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Washington Trust (WASH) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates

Washington Trust Bancorp (WASH) came out with quarterly earnings of $0.76 per share, beating the Zacks Consensus Estimate of $0.54 per share. This compares to earnings of $0.95 per share a year ago.

Washington Trust Bancorp (WASH) Surpasses Q4 Earnings Estimates

WESTERLY, R.I. , Jan. 24, 2024 /PRNewswire/ -- Washington Trust Bancorp, Inc. (Nasdaq: WASH), parent company of The Washington Trust Company, today announced fourth quarter 2023 net income of $12.9 million, or $0.76 per diluted share, compared to net income of $11.2 million, or $0.65 per diluted share, for the third quarter of 2023.

Washington Trust Reports Fourth Quarter and Full-Year 2023 Earnings

Get a deeper insight into the potential performance of Washington Trust (WASH) for the quarter ended December 2023 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.

Gear Up for Washington Trust (WASH) Q4 Earnings: Wall Street Estimates for Key Metrics

WESTERLY, R.I., Jan. 12, 2024 /PRNewswire/ -- Washington Trust Bancorp, Inc. (NASDAQ: WASH), the publicly owned holding company of The Washington Trust Company, will release fourth quarter 2023 earnings and host a conference call with the Corporation's executives as follows: Earnings Release: Wednesday, January 24, 2024, After Market Closes Conference Call:  Thursday, January 25, 2024, 8:30 a.m.

Washington Trust Announces Date of Fourth Quarter 2023 Earnings Release, Conference Call and Webcast

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KBW Announces Index Rebalancing for Fourth-Quarter 2023

WESTERLY, R.I. , Nov. 16, 2023 /PRNewswire/ -- The Washington Trust Company ("Washington Trust") today announced that it has made grants totaling $24,000 to assist hunger relief agencies located throughout the Bank's footprint in RI, MA and CT to support food distribution efforts.

Washington Trust Donates $24,000 to Support Food Distribution Efforts in Communities in Rhode Island, Massachusetts, and Connecticut

Shares of Washington Trust Bancorp dropped nearly 10% after Q3 financial results before falling further after that, presenting a buying opportunity. The bank has shown growth in deposits and loans, with minimal exposure to high-risk assets. Despite challenges with interest rates, the bank's valuation is attractive, making it an interesting prospect for investors.

Washington Trust Bancorp: A Small Bank With Some Potential To It

Washington Trust Bancorp, Inc. (NASDAQ:WASH ) Q3 2023 Earnings Conference Call October 24, 2023 8:30 AM ET Company Participants Elizabeth Eckel - EVP, Chief Marketing and Corporate Communications Officer Ned Handy - Chairman and CEO Mary Noons - President and COO Ron Ohsberg - Senior EVP, CFO and Treasurer Bill Wray - Senior EVP and CRO Conference Call Participants Mark Fitzgibbon - Piper Sandler Damon DelMonte - KBW Laurie Hunsicker - Seaport Research Partners Operator Good morning, and welcome to the Washington Trust Bancorp Inc.'s Conference Call. My name is Emily, and I will be your operator today.

Washington Trust Bancorp, Inc. (WASH) Q3 2023 Earnings Call Transcript

The headline numbers for Washington Trust (WASH) give insight into how the company performed in the quarter ended September 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Washington Trust (WASH) Reports Q3 Earnings: What Key Metrics Have to Say

WESTERLY, R.I. , Oct. 23, 2023 /PRNewswire/ -- Washington Trust Bancorp, Inc. (Nasdaq: WASH), parent company of The Washington Trust Company, today announced third quarter 2023 net income of $11.2 million, or $0.65 per diluted share, compared to net income of $11.3 million, or $0.66 per diluted share, for the second quarter of 2023.

Washington Trust Reports Third Quarter 2023 Earnings

WESTERLY, R.I. , Oct. 5, 2023 /PRNewswire/ -- Washington Trust Bancorp, Inc. (NASDAQ: WASH), the publicly owned holding company of The Washington Trust Company, will release third quarter 2023 earnings and host a conference call with the Corporation's executives as follows: Earnings Release:                        Monday, October 23, 2023, After Market Closes Conference Call:                        Tuesday, October 24, 2023, 8:30 a.m.

Washington Trust Announces Date of Third Quarter 2023 Earnings Release, Conference Call and Webcast

Washington Trust's (WASH) subsidiary agrees to settle the U.S. Department of Justice's allegations regarding violation of fair lending laws in Rhode Island between 2016 and 2021.

Washington Trust (WASH) to Settle Lending Law Violation Claims

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Market turmoil continues in 2023 due to higher interest rates and the Federal Reserve's actions to contain inflation. Dividend yields have climbed, particularly in interest rate-sensitive industries, presenting opportunities for income investors. Three undervalued high-yield stocks with reasonable valuations are Verizon Communications, Washington Trust Bancorp, and Walgreens Boots Alliance.

3 High Yield Stocks For Dividend Growth And Income

Washington Trust Bank , the largest community bank in the country, will pay $9 million to settle civil rights charges that it discriminated against primarily Black and Hispanic mortgage applicants, the U.S. Justice Department announced on Wednesday.

Washington Trust Bank to pay $9 mln over discriminatory lending practices

WESTERLY, R.I. , Sept. 27, 2023 /PRNewswire/ -- The Washington Trust Company ("Washington Trust" or "the Bank"), the wholly owned subsidiary of Washington Trust Bancorp, Inc. (Nasdaq: WASH), today announced that it has entered into a settlement agreement with the U.S. Department of Justice ("DOJ") that resolves alleged violations of fair lending laws in Rhode Island from 2016 to 2021.

Washington Trust Announces Settlement with U.S. Department of Justice

NEW YORK--(BUSINESS WIRE)-- #KBRA--On August 25, 2023, KBRA affirmed the senior unsecured debt rating of BBB+, the subordinated debt rating of BBB, and the short-term debt rating of K2 for Westerly, Rhode Island-based Washington Trust Bancorp, Inc. (NASDAQ: WASH) (“the company”). KBRA also affirmed the deposit and senior unsecured debt ratings of A-, the subordinated debt rating of BBB+, and the short-term deposit and debt ratings of K2 for the subsidiary, The Washington Trust Company, of Westerly. The.

KBRA Releases Surveillance Report for Washington Trust Bancorp, Inc.

CENTRAL FALLS, R.I. , Sept. 8, 2023 /PRNewswire/ -- Washington Trust's Commercial Real Estate Group recently provided $4.925 million in financing to Phoenix Central Falls Industrial Investors, LLC for the renovation and future tenant improvements of a 350,000 square foot industrial building located on Broad Street in Central Falls, R.I.

Washington Trust provides $4.925 million in financing to Phoenix Central Falls Industrial Investors, LLC

" What We Value is You" Highlights Local People, Places, and Businesses WESTERLY, R.I. , Aug. 22, 2023 /PRNewswire/ -- The Washington Trust Company ("Washington Trust"; "the Bank") today launched a marketing campaign to introduce its new brand position: "What we value is you.

Washington Trust Introduces New Brand Campaign

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