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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.
Washington Trust
Washington Trust
Washington Trust Revenue by Segment
Revenue by Segment
Wealth Management Revenues Revenue
CapyFin.comMortgage Banking Revenues Revenue
CapyFin.com 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