secwatch.observer — SEC 8-K summary
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Issuer:     WASHINGTON TRUST BANCORP INC (WASH)
CIK:        0000737468
Form:       8-K
Filed at:   2025-04-21T23:59:59+00:00
Accession:  0000737468-25-000019
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Washington Trust Q1 net income $12.2M ($0.63 EPS); NIM expands 34 bps to 2.29%
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- Adjusted EPS $0.61 excludes $7.0M gain on sale-leaseback and $6.4M pension settlement charge.
- Net interest margin rose 34 bps to 2.29% from balance sheet repositioning; net interest income up 11% QoQ.
- In-market deposits up 4% to $5.0B; wholesale brokered deposits decreased 91% to $27M.
- Mortgage banking revenues fell 19% QoQ to $2.3M; loans sold down 33%.
- Total risk-based capital ratio 13.13%, well above well-capitalized; book value $27.06, up 4%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/737468/000073746825000019/0000737468-25-000019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/737468/000073746825000019/wash-20250421.htm
  HTML page:      https://secwatch.observer/filing/0000737468-25-000019

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