secwatch.observer — SEC 8-K summary
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Issuer:     WASHINGTON TRUST BANCORP INC (WASH)
CIK:        0000737468
Form:       8-K
Filed at:   2023-01-25T23:59:59+00:00
Accession:  0000737468-23-000003
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Washington Trust Q4 EPS $0.95 vs $1.08 QoQ; loans hit record $5.1B
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- Net income $16.6M ($0.95 diluted EPS) vs Q3 $18.7M ($1.08); full-year 2022 $4.11 EPS vs $4.39 in 2021.
- Total loans record $5.1B, up 5% QoQ and 20% YoY; net interest margin narrowed 17 bps to 2.65% on higher funding costs.
- Wealth management revenues fell 9% QoQ to $8.6M; $673M client asset outflows from departure of four advisors; further withdrawals possible.
- Quarterly dividend increased 2 cents to $0.56 per share, marking 12th consecutive year of dividend growth.
- Nonaccrual loans stable at 0.25% of loans; provision for credit losses $800K consistent with prior quarter.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/737468/000073746823000003/0000737468-23-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/737468/000073746823000003/wash-20230125.htm
  HTML page:      https://secwatch.observer/filing/0000737468-23-000003

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