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Sep 30, 2021
Washington Trust Q3 2021 Earnings Report
Reported increased quarterly earnings, a record $6 billion in assets, and reached an all-time high $5 billion in deposits.
Key Takeaways
Washington Trust Bancorp, Inc. reported Q3 2021 net income of $18.8 million, or $1.07 per diluted share, compared to net income of $17.5 million, or $1.00 per diluted share, for the second quarter of 2021. The company's assets reached a record $6 billion, and deposits reached an all-time high of $5 billion.
Net income for Q3 2021 was $18.8 million, or $1.07 per diluted share.
Returns on average equity and average assets for the third quarter were 13.37% and 1.26%, respectively.
Wealth management revenues were $10.5 million for the third quarter.
Mortgage banking revenues were $6.4 million for the third quarter, up by $379 thousand, or 6%, from the preceding quarter.
Revenue by Segment
Forward Guidance
The Corporation currently expects its full-year 2021 effective tax rate to be approximately 22.0%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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