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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.
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 third quarter results, business highlights and outlook on Tuesday, October 20, 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income