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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.
Washington Trust
Washington Trust
Washington Trust Revenue by Segment
Revenue by Segment
Wealth Management Revenues Revenue
CapyFin.comMortgage Banking Revenues Revenue
CapyFin.com Forward Guidance
The Corporation currently expects its full-year 2021 effective tax rate to be approximately 22.0%.