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Sep 30, 2020
Washington Trust Q3 2020 Earnings Report
Washington Trust reported solid earnings during challenging economic times.
Key Takeaways
Washington Trust Bancorp, Inc. reported Q3 2020 net income of $18.3 million, or $1.06 per diluted share, reflecting good performances across key business lines, led by strong mortgage banking activity, increases in wealth management assets under administration, and in-market deposit growth.
Returns on average equity and average assets for the third quarter were 13.99% and 1.24%, respectively.
Wealth management revenues were $9.0 million for the third quarter, up by 4% from the preceding quarter.
Mortgage banking revenues totaled $12.4 million, up by 155%, from the same period a year ago.
Residential mortgage loan origination activity amounted to an all-time quarterly high of $510 million, up by 20%, from the preceding quarter.
Revenue by Segment
Forward Guidance
Washington Trust will host a conference call to discuss its third quarter results, business highlights and outlook on Tuesday, October 20, 2020.
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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