secwatch.observer — SEC 8-K summary
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Issuer:     WASHINGTON TRUST BANCORP INC (WASH)
CIK:        0000737468
Form:       8-K
Filed at:   2024-01-24T23:59:59+00:00
Accession:  0000737468-24-000004
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Washington Trust Q4 net income $0.76/diluted; full-year EPS $2.82 down from $4.11; NIM compresses to 1.88%
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- Q4 net income $12.9M ($0.76/diluted) vs $11.2M ($0.65) in Q3; includes $0.19/share benefit from MA tax law change.
- Full-year 2023 net income $48.2M ($2.82/diluted) down from $71.7M ($4.11) in 2022.
- Net interest margin fell to 1.88% in Q4 from 1.97% in Q3; full-year NIM 2.05% vs 2.69% prior year.
- Provision for credit losses $1.2M in Q4 (up from $0.5M in Q3); nonaccrual loans rose to 0.79% of loans from 0.60% due to one CRE loan.
- Total loans $5.6B (+1% linked quarter); in-market deposits $4.7B (-1%); book value $27.75/share.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/737468/000073746824000004/0000737468-24-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/737468/000073746824000004/wash-20240124.htm
  HTML page:      https://secwatch.observer/filing/0000737468-24-000004

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