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Dec 31, 2022
Washington Trust Q4 2022 Earnings Report
Reported solid results for the fourth quarter of 2022, reflecting challenges from an inflationary environment, with total loans reaching a record high and strong asset quality.
Key Takeaways
Washington Trust Bancorp, Inc. announced Q4 2022 net income of $16.6 million, or $0.95 per diluted share, compared to $18.7 million, or $1.08 per diluted share, for the third quarter of 2022. Total loans reached an all-time high, and asset quality remained strong.
Net income for Q4 2022 was $16.6 million, or $0.95 per diluted share.
Total loans reached a record high of $5.1 billion, up 5% from the previous quarter.
In-market deposits amounted to $4.7 billion, up 1% from the end of the preceding quarter.
Returns on average equity and average assets for the fourth quarter were 14.96% and 1.01%, respectively.
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
Based on current federal and applicable state income statutes, the Corporation currently expects its full-year 2023 effective tax rate to be approximately 21.1%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income