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Jun 30, 2021
Washington Trust Q2 2021 Earnings Report
Reported solid second quarter results with strong performances across key business lines.
Key Takeaways
Washington Trust Bancorp, Inc. reported a net income of $17.5 million, or $1.00 per diluted share, for the second quarter of 2021. The wealth management division achieved record assets under administration of $7.4 billion and generated $10.4 million in quarterly revenues. Commercial lending activity saw a revival as the economic recovery continued.
Net income for the second quarter of 2021 was $17.5 million, or $1.00 per diluted share.
Wealth management revenues reached $10.4 million, with assets under administration at a record $7.4 billion.
Residential real estate loan origination volume was $489.4 million, up 11% from the previous quarter and 15% year-over-year.
Total loans amounted to $4.3 billion, up 3% from the end of the previous quarter.
Revenue by Segment
Forward Guidance
The Corporation currently expects its full-year 2021 effective tax rate to be approximately 22.0%.
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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