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Jun 30, 2022
Washington Trust Q2 2022 Earnings Report
Reported a good second quarter result, reflecting business model strength.
Key Takeaways
Washington Trust Bancorp, Inc. reported a net income of $20.0 million, or $1.14 per diluted share, for the second quarter of 2022, compared to a net income of $16.5 million, or $0.94 per diluted share, for the first quarter of 2022.
Returns on average equity and average assets for the second quarter were 16.11% and 1.37%, respectively, compared to 12.04% and 1.14%, respectively, for the preceding quarter.
Net interest income totaled $37.5 million in the second quarter, up by $2.4 million, or 7%, from the preceding quarter, reflecting the impact of rising market interest rates.
Asset and credit quality metrics continue to remain strong with a negative $3.0 million provision for credit losses recognized.
Total loans excluding Paycheck Protection Program (PPP) loans amounted to an all-time high of $4.5 billion.
Washington Trust
Washington Trust
Washington Trust Revenue by Segment
Washington Trust Revenue by Geographic Location
Revenue by Segment
Wealth Management Revenues Revenue
CapyFin.comMortgage Banking Revenues Revenue
CapyFin.comRevenue by Geographic Location
Connecticut Commercial Real Estate Revenue
CapyFin.comMassachusetts Commercial Real Estate Revenue
CapyFin.comRhode Island Commercial Real Estate Revenue
CapyFin.comAll Other States Commercial Real Estate Revenue
CapyFin.com Forward Guidance
Washington Trust will host a conference call to discuss its second quarter results, business highlights and outlook on Tuesday, July 26, 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income