secwatch.observer — SEC 8-K summary
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Issuer:     WASHINGTON TRUST BANCORP INC (WASH)
CIK:        0000737468
Form:       8-K
Filed at:   2022-10-24T23:59:59+00:00
Accession:  0000737468-22-000090
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Washington Trust Q3 net income $18.7M ($1.08 EPS); NII record $42.0M, loans $4.8B
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- Net income $18.7M ($1.08 diluted EPS) vs $20.0M ($1.14) in Q2; ROAE 15.16%, ROAA 1.19%.
- Net interest income record $42.0M (+12% QoQ); net interest margin 2.82% (+11 bps).
- Total loans all-time high $4.8B (+$369M, 8% QoQ); commercial +$186M, residential +$178M.
- Wealth management AUA fell 5% to $6.3B; four client-facing advisors resigned, risk of further outflows.
- Provision for credit losses $800K vs negative $3.0M benefit in Q2; nonaccrual loans 0.25% of total.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/737468/000073746822000090/0000737468-22-000090-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/737468/000073746822000090/wash-20221024.htm
  HTML page:      https://secwatch.observer/filing/0000737468-22-000090

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