Loading...
•
Sep 30, 2024
Washington Trust Q3 2024 Earnings Report
Washington Trust's Q3 2024 earnings remained steady, demonstrating the strength of its diversified business model.
Key Takeaways
Washington Trust Bancorp reported a net income of $11.0 million, or $0.64 per diluted share, for the third quarter of 2024, compared to $10.8 million, or $0.63 per diluted share, for the second quarter of 2024. The results reflect a solid performance driven by a diversified business model and careful balance sheet management.
Net income for Q3 2024 was $11.0 million, or $0.64 per diluted share.
Net interest margin increased to 1.85%, up from 1.83% in the previous quarter.
Wealth management revenues grew by 3% compared to the preceding quarter, with AUA eclipsing $7 billion.
In-market deposits reached an all-time high of $4.8 billion, a 3% increase from the prior 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 2024 effective tax rate to be approximately 21%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income