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Mar 31, 2021
Washington Trust Q1 2021 Earnings Report
Reported strong first quarter results with increased profitability.
Key Takeaways
Washington Trust Bancorp reported a strong first quarter in 2021, with net income of $20.5 million, or $1.17 per diluted share, compared to $18.6 million, or $1.07 per diluted share, for the fourth quarter of 2020.
Net income for Q1 2021 was $20.5 million, or $1.17 per diluted share, an increase from Q4 2020.
Returns on average equity and average assets for the first quarter were 15.55% and 1.45%, respectively, compared to the preceding quarter.
Wealth management revenues increased by 7% from the preceding quarter, reaching $9.9 million, with AUA at a record $7.0 billion.
In-market deposits amounted to a record $4.0 billion, up by $227 million, or 6%, from the end of the preceding quarter.
Revenue by Segment
Forward Guidance
The Corporation currently expects its full-year 2021 effective tax rate to be approximately 22.3%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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