secwatch.observer — SEC 8-K summary
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Issuer:     WASHINGTON TRUST BANCORP INC (WASH)
CIK:        0000737468
Form:       8-K
Filed at:   2023-10-23T23:59:59+00:00
Accession:  0000737468-23-000047
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 $11.2M ($0.65 EPS); nonaccrual loans surge to 0.60%
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/737468/000073746823000047/0000737468-23-000047-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/737468/000073746823000047/wash-20231023.htm
  HTML page:      https://secwatch.observer/filing/0000737468-23-000047

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer