December 2024 Investor Presentation NASDAQ: WASH Disclaimers 2 Summary of December Strategic Actions Common stock offering and balance sheet repositioning will result in improved future earnings, higher capital levels to support growth and an improved interest rate risk profile | | | Announced common stock offering on 12/12/2024 | | | --- | --- | --- | --- | | 1 | Common Stock | Issued ~2.2 million new shares at $34 per/share o 6.3% discount to last sale (12/12/2024) | $70 million(1) | | | Offering | Net ca ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) Commission file number: 001-32991 WASHINGTON TRUST BANCORP, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (IRS Employer Identification No.) 23 Broad Street, Westerly, Rhode Island 02891 Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regula ...

Financial Data and Key Metrics Changes - The company reported net income of $12.2 million, or $0.63 per share, with adjusted net income at $11.8 million, or $0.61 per share [11] - Net interest income increased to $36.4 million, up by $3.5 million or 11% on a linked quarter basis, with a margin of 229 basis points, reflecting a 34 basis point improvement [12] - Total loans decreased by $42 million or 1% from the previous quarter, including a 1% reduction in both residential and commercial loans [16] - In-market deposits reached an all-time high of $5.13 billion, up by $195 million or 4% [17] - Total equity increased to $522 million, up by $22 million from the end of Q4 [17] - The CET1 capital ratio improved by 56 basis points to 11.76% [18] Business Line Data and Key Metrics Changes - Wealth management revenues decreased to $9.9 million, down by $158,000 or 2% [13] - Mortgage banking revenues totaled $2.3 million, down by $544,000 or 19% [13] - The mortgage pipeline at March 31 was $95 million, up by $35 million or 59% from the end of December [14] Market Data and Key Metrics Changes - Broker deposits decreased by $270 million, and FHLB borrowings were down by $275 million, reflecting increases in deposits and cash redeployment [17] - The loan-to-deposit ratio decreased from 105.5% to 100.7% [17] Company Strategy and Development Direction - The company is focused on deposit growth strategies, achieving results in both in-market deposits and new households [7] - Retail branches are competing effectively, supplemented by a team of retail sales officers dedicated to enhancing loan and deposit opportunities [8] - The company aims for low single-digit growth in loans, with a strong pipeline building [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving low single-digit growth in loans despite challenges in the mortgage portfolio [30] - The company is closely monitoring the Fed's rate policy, with expectations for a net interest margin of 235 basis points for the next quarter [35] - Management indicated that the effective tax rate for the full year is expected to be 22.4% [16] Other Important Information - A pre-tax non-cash pension settlement charge of $6.4 million was recognized within non-interest expenses [14] - The allowance for credit losses totaled $41.1 million, providing MPL coverage of 190% [18] Q&A Session Summary Question: Impact of sale-leaseback and pension curtailment on operating costs - The sale-leaseback adds about $700,000 to occupancy and equipment costs annually, and there are no ongoing expenses related to the pension [24][26] Question: Size and complexion of loan pipelines - The commercial pipeline is a little over $100 million, with strong early-stage activity [30] Question: Expectations for net interest margin - The company anticipates a steady rise in net interest margin, with guidance limited to the next quarter [35] Question: Dividend payout ratio targets - The company aims to lower the dividend payout ratio, expecting to be in the mid to low 80s by the end of the year [37] Question: Interest rate sensitivity changes - The company has moved closer to rate neutral due to recent restructuring, reducing liability sensitivity [45] Question: Drivers of in-market core deposit growth - Strong organic deposit growth and targeted efforts by newly hired retail sales officers contributed to deposit growth [48] Question: Details on credit quality and specific loans - Management provided updates on non-accruing loans and ongoing efforts to resolve issues with specific properties [66][70]

For the quarter ended March 2025, Washington Trust Bancorp (WASH) reported revenue of $59.07 million, up 21% over the same period last year. EPS came in at $0.61, compared to $0.64 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $52.98 million, representing a surprise of +11.50%. The company delivered an EPS surprise of -1.61%, with the consensus EPS estimate being $0.62.While investors scrutinize revenue and earnings changes year-over-year and how they compare with ...

Washington Trust Bancorp (WASH) came out with quarterly earnings of $0.61 per share, missing the Zacks Consensus Estimate of $0.62 per share. This compares to earnings of $0.64 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -1.61%. A quarter ago, it was expected that this holding company for The Washington Trust Co. Would post earnings of $0.58 per share when it actually produced earnings of $0.59, delivering a surprise of 1. ...

Washington Trust Bancorp, Inc. (WASH) Q1 2025 Earnings Conference Call April 21, 2025 10:00 AM ET Company Participants Ron Osberg - Senior Executive Vice President, Chief Financial Officer and TreasurerMary Nunes - President and Chief Operating OfficerDarren - Conference Call Moderator (Operator)Jayla - Conference Call Communications RepresentativeBill Ray - Senior Executive Vice President and Chief Risk OfficerNed Handy - Chairman and Chief Executive Officer Conference Call Participants Damon Del Monte - A ...

Financial Performance - Washington Trust reported first quarter 2025 net income of $12.2 million, or $0.63 per diluted share, compared to a net loss of $60.8 million in the fourth quarter of 2024[2][3]. - Noninterest income was $22.6 million for the first quarter, a significant recovery from a loss of $77.9 million in the fourth quarter of 2024[6]. - Net income for the first quarter of 2025 was $12,179 thousand, a significant recovery from a net loss of $60,791 thousand in the previous quarter[30]. - Adjusted net income available to common shareholders was $11,762 thousand for the quarter ended March 31, 2025, compared to $9,356 thousand in the same quarter last year, representing a 25.7% increase[63]. - Basic earnings per common share for the first quarter of 2025 was $0.63, a recovery from a loss of $3.48 per share in the previous quarter[30]. Asset and Loan Management - Total loans amounted to $5.1 billion, down by 1% from the end of the preceding quarter, while in-market deposits increased to $5.0 billion, up by 4%[10][11]. - Total loans decreased to $5,096,210 thousand as of March 31, 2025, down from $5,137,838 thousand at December 31, 2024, indicating a reduction of approximately 1%[29]. - Residential mortgage loan originations for retention in portfolio increased to $27,662,000 for the three months ended March 31, 2025, compared to $15,155,000 in the previous quarter, a growth of 82.8%[38]. - Total commercial real estate loans decreased to $2,134,107 million as of March 31, 2025, from $2,154,504 million at December 31, 2024, reflecting a decline of approximately 0.93%[46]. Capital and Equity - Total shareholders' equity increased to $521.7 million, up by 4% from December 31, 2024, with a total risk-based capital ratio of 13.13%[20][21]. - Shareholders' equity increased to $521,680 thousand as of March 31, 2025, up from $499,728 thousand at December 31, 2024, representing an increase of approximately 4%[29]. - Tangible book value per share increased to $23.61 in Q1 2025 from $23.45 in Q1 2024[72]. - Tangible equity to tangible assets ratio improved to 6.98% in Q1 2025 from 5.56% in Q1 2024[72]. Income and Expense Metrics - The net interest margin increased to 2.29%, up by 34 basis points from 1.95% in the previous quarter, reflecting benefits from balance sheet repositioning transactions[4][5]. - Net interest income increased to $36,422 thousand for the three months ended March 31, 2025, compared to $31,665 thousand for the same period in 2024, reflecting an increase of about 15%[30]. - The efficiency ratio improved to 71.4% for the three months ended March 31, 2025, compared to 76.3% in the previous quarter, indicating better operational efficiency[33]. - Adjusted efficiency ratio improved to 68.7% in Q1 2025 from 73.5% in Q1 2024[65]. Credit Quality - The provision for credit losses was $1.2 million, up by $200 thousand from the previous quarter, with net charge-offs amounting to $2.3 million[17]. - Nonaccrual loans decreased to $21.6 million, or 0.42% of total loans, down from 0.45% at the end of the previous quarter[14]. - Nonperforming assets to total assets ratio improved to 0.33% as of March 31, 2025, compared to 0.34% at December 31, 2024[55]. - The allowance for credit losses on loans to nonaccrual loans ratio increased to 189.85% as of March 31, 2025, from 180.03% at December 31, 2024[55]. Dividends and Shareholder Returns - The Board declared a quarterly dividend of $0.56 per share, paid on April 11, 2025[21]. - The company declared cash dividends of $0.56 per share for the first quarter of 2025, consistent with the previous quarters[30]. Market Position and Deposits - Total deposits decreased to $5,040,581 thousand as of March 31, 2025, down from $5,115,800 thousand at December 31, 2024, a decline of about 1.5%[29]. - Noninterest-bearing demand deposits decreased to $625,590 million from $661,776 million, a decline of about 5.47%[49]. - Uninsured deposits increased to $1,378,312 million as of March 31, 2025, from $1,363,689 million at December 31, 2024, reflecting a growth of about 1.07%[50].

Equivalent of More Than 4.2 tons of Peanut Butter CollectedWESTERLY, R.I., April 16, 2025 /PRNewswire/ -- Washington Trust ("the Bank") today announced their 25th Annual Peanut Butter Drive collected 4,710 jars of peanut butter, and more than $6,100 in monetary donations, to benefit partner food banks and hunger relief agencies throughout the Bank's footprint - a 68% increase in donations from last year. Washington Trust's 25th annual Peanut Butter Drive resulted in more than 4,700 jars of peanut butter ...

In its upcoming report, Washington Trust Bancorp (WASH) is predicted by Wall Street analysts to post quarterly earnings of $0.62 per share, reflecting a decline of 3.1% compared to the same period last year. Revenues are forecasted to be $52.98 million, representing a year-over-year increase of 8.5%.The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial proje ...

WESTERLY, R.I., April 10, 2025 /PRNewswire/ -- Washington Trust Bancorp, Inc. (NASDAQ: WASH), the publicly owned holding company of The Washington Trust Company, will release first quarter 2025 earnings and host a conference call with the Corporation's executives as follows: Earnings Release:        Monday, April 21, 2025, 8:00 a.m. ET Conference Call:            Monday, April 21, 2025, 10:00 a.m. ET Participant Dial In:          1-833-470-1428 (Toll-Free) International Dial In:        Globa ...