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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.
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 22.0%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income