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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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