Washington Trust Q2 net income $20.0M ($1.14 EPS), up from $16.5M; net interest income +7%

WASHINGTON TRUST BANCORP INC

2022-Q2 EPS reported $2.08 revenue$105,617,000

Net income $20.0M, diluted EPS $1.14, compared $16.5M, $0.94 in prior quarter.
Net interest income $37.5M, up $2.4M (7%) linked quarter; net interest margin 2.71%.
Noninterest income $15.9M, down $1.3M (8%) due to lower mortgage banking ($2.1M, -41%).
Loans ex-PPP at all-time high $4.5B, up 5% linked quarter; in-market deposits down 4%.
Negative $3.0M provision for credit losses; asset quality strong, nonaccrual 0.28%.

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