Washington Trust Q3 net income $11.2M ($0.65 EPS); nonaccrual loans surge to 0.60%

WASHINGTON TRUST BANCORP INC

2023-Q3 EPS reported $2.06 revenue$147,278,000

Net income $11.2M ($0.65 diluted EPS), down slightly from $11.3M ($0.66) in Q2 2023.
Nonaccrual loans jumped to $33.7M (0.60% of loans) from $10.4M (0.19%), due to two commercial CRE loans.
Net interest margin fell 6 bps to 1.97% as funding costs rose faster than asset yields.
Book value per share dropped 6% to $25.35 from $26.98, driven by AOCI decline and dividends.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

WASHINGTON TRUST BANCORP INC reported third quarter 2023 results: net income $11.2 million, EPS $0.65 per diluted share.

Period: third quarter 2023
Net income: $11.2 million
EPS: $0.65 per diluted share
Result: reported results

Exact text from the filing

today announced third quarter 2023 net income of $11.2 million, or $0.65 per diluted share

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13 earnings releases filed in the last 30 days. Browse all earnings releases →

WASHINGTON TRUST BANCORP INC filing history →

Source: SEC EDGAR

accession 0000737468-23-000047

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