AI Earnings Predictions for Washington Trust Bancorp Inc. (WASH)

EX-99.1

2 exhibit9912026q3.htm

EX-99.1

Document

Exhibit 99.1

NASDAQ: WASH

Media Contact: Kathleen Hart

VP, Public Relations Manager

Telephone: (401) 348-1495

E-mail: kahart@washtrust.com

Date: October 19, 2026

FOR IMMEDIATE RELEASE

Washington Trust Reports Third Quarter 2026 Results

WESTERLY, R.I., October 19, 2026 (PR NEWSWIRE)…Washington Trust Bancorp, Inc. (Nasdaq: WASH; “Washington Trust” or the “Corporation”), today reported third quarter 2026 net income of $19.4 million, up by $3.4 million, or 21%, from the preceding quarter. Diluted earnings per share was $1.01 for the third quarter of 2026, up by $0.18 from the preceding quarter. Compared to the third quarter of 2025, net income was up by $8.5 million, or $0.45 per diluted share.

“We delivered another strong quarter marked by growth in earnings and net interest income, continued margin expansion and improved operating efficiency,” said Washington Trust Chairman and Chief Executive Officer Edward O. “Ned” Handy III. “By combining personalized service and trusted advice with the capabilities of a regional bank, we are able to provide customers with a level of service, expertise and convenience that stands apart from other community banks our size. We continue to focus on leveraging these strengths to support prudent growth and deliver long-term value for our shareholders.”

THIRD QUARTER HIGHLIGHTS (Q3 2026 vs. Q2 2026, unless otherwise noted):

•Profitability metrics improved with returns on average equity and average assets of 13.89% and 1.17%, compared to 11.61% and 0.99%, respectively.

•Net interest margin ("NIM") expanded to 2.84%, up by 11 basis points.

•Asset quality metrics improved, reflecting the resolution of a commercial real estate office loan.

•The provision for credit losses was $1.8 million for the third quarter.

•Total noninterest income was up by 9%.

•Total noninterest expenses increased modestly by 0.5%.

•Loan balances were up by $61.8 million from June 30, 2026.

•Deposits reached an all-time high of $5.4 billion and were up by $77.1 million from June 30, 2026.

•Capital ratios remained strong, with a common equity tier 1 ratio of 11.93% at September 30, 2026.

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Washington Trust

October 19, 2026

RESULTS OF OPERATIONS (Q3 2026 vs. Q2 2026, unless otherwise noted):

Net Interest Income

Net interest income was up by $2.9 million, or 7%, and NIM was up by 11 basis points. Compared to the third quarter of 2025, net interest income was up by $5.9 million, or 15%, and NIM was up by 44 basis points.

•Net interest income for the third quarter of 2026 amounted to $44.7 million and included the receipt of previously unrecognized second quarter interest income of $283 thousand (equivalent to $0.01 per diluted share or a 2 basis points benefit to NIM) associated with the resolution of a commercial real estate office loan that returned to accruing status in the third quarter.

•Average interest-earning assets increased by $104 million, and the yield was up by 7 basis points.

•Average interest-bearing liabilities increased by $52 million, and the rate was down by 3 basis points.

Noninterest Income

Noninterest income was up by $1.6 million, or 9%. Compared to the third quarter of 2025, noninterest income was up by $2.6 million, or 15%.

•Wealth management revenues decreased by $112 thousand, or 1%, as increased asset-based revenues were offset by a seasonal decline in tax servicing fee income. Compared to the third quarter of 2025, wealth management revenues increased by $716 thousand, or 7%.

•Mortgage banking revenues were down by $318 thousand, or 9%, reflecting a decrease in the mortgage pipeline and rising market interest rates. Compared to the third quarter of 2025, mortgage banking revenues were down by 10%.

•Loan related derivative income totaled $1.5 million, up by $924 thousand, driven by increased commercial borrower demand for interest rate swap transactions.

•Income from bank-owned life insurance totaled $1.9 million, up by $959 thousand, due to the recognition of a non-taxable gain of $954 thousand (equivalent to $0.05 per diluted share).

Noninterest Expense

Noninterest expense was up by $200 thousand, or 0.5%. Compared to the third quarter of 2025, noninterest expense was up by $3.1 million, or 9%.

•Salaries and employee benefits expense decreased by $188 thousand, or 0.7%. Compared to the third quarter of 2025, salaries and employee benefits expense increased by $2.5 million, or 11%, reflecting annual merit and staffing increases.

•All other noninterest expenses increased by $388 thousand, or 3%, largely reflecting volume-related increases in outsourced services expense. Compared to the third quarter of 2025, all other noninterest expenses increased by $621 thousand, or 5%.

Income Tax

Income tax expense was up by $692 thousand. The effective tax rate was 20.4%, compared to 21.2%. The Corporation expects its full-year 2026 effective tax rate to be approximately 21.5%.

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Washingto

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EX-99.1

2 exhibit9912026q1.htm

EX-99.1

Document

Exhibit 99.1

NASDAQ: WASH

Media Contact: Kathleen Hart

VP, Public Relations Manager

Telephone: (401) 348-1495

E-mail: kahart@washtrust.com

Date: April 20, 2026

FOR IMMEDIATE RELEASE

Washington Trust Reports First Quarter 2026 Results

WESTERLY, R.I., April 20, 2026 (PR NEWSWIRE)…Washington Trust Bancorp, Inc. (Nasdaq: WASH; “Washington Trust” or the “Corporation”), today reported first quarter 2026 net income of $12.6 million, or $0.66 per diluted share, compared to $16.0 million, or $0.83 per diluted share, for the preceding quarter. Compared to the first quarter of 2025, net income was up by $421 thousand, or $0.03 per diluted share, on a GAAP basis, and was up by $838 thousand, or $0.05 per diluted share, on an adjusted (non-GAAP) basis.

“Washington Trust delivered solid first quarter 2026 results, led by an increase in net interest margin, which reflects the strength of our core banking business and continued benefits from the December 2024 balance sheet repositioning transactions,” said Washington Trust Chairman and Chief Executive Officer Edward O. “Ned” Handy III. “Our balance sheet remains strong, and as we move through 2026, Washington Trust is focused on delivering long‑term shareholder value while providing customers with personalized service, local decision‑making, and a comprehensive suite of financial products and services.”

FIRST QUARTER HIGHLIGHTS (Q1 2026 vs. Q4 2025, unless otherwise noted):

•Returns on average equity and average assets were 9.23% and 0.78% for the first quarter.

•Net interest margin ("NIM") was 2.63%, up by 7 basis points and up by 34 basis points from the first quarter of 2025.

•The provision for credit losses was $4.0 million for the first quarter.

•Wealth management revenues decreased by 2% and were up by 8% from the first quarter of 2025.

•Mortgage banking revenues were seasonally down by 6%, and were up by 32% from the first quarter of 2025.

•Loan balances were down by 2% from both December 31, 2025 and March 31, 2025.

•In-market deposits (total deposits less wholesale brokered deposits) were down by 2% from December 31, 2025 and up by 3% from March 31, 2025.

•Capital ratios remained strong, with a total risk-based capital ratio of 13.38% at March 31, 2026.

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Washington Trust

April 20, 2026

RESULTS OF OPERATIONS (Q1 2026 vs. Q4 2025, unless otherwise noted):

Net Interest Income

Net interest income was down by $223 thousand, or 1%, and as noted above NIM was up by 7 basis points. Compared to the first quarter of 2025, net interest income was up by $4.1 million, or 11%, and NIM was up by 34 basis points.

•Commercial loan prepayment fee income was $116 thousand (a 1 basis point benefit to NIM), compared to $516 thousand (a 3 basis point benefit to NIM) in the prior quarter.

•Average interest-earning assets decreased by $88 million, and the yield was down by 7 basis points.

•Average interest-bearing liabilities decreased by $49 million, and the rate was down by 19 basis points.

Noninterest Income

Noninterest income was down by $1.2 million, or 6%. Adjusted noninterest income (non-GAAP) was up by $1.7 million, or 11%, from the first quarter of 2025.

•Wealth management revenues decreased by $205 thousand, or 2%, and average assets under administration ("AUA") decreased by 1%. Compared to the first quarter of 2025, wealth management revenues increased by $756 thousand, or 8%, and average AUA increased by 10%.

•Mortgage banking revenues were down by $205 thousand, or 6%, largely driven by a seasonal decline in loan sales volume. Mortgage banking revenues increased by 32% compared to the first quarter of 2025.

•Loan related derivative income totaled $227 thousand, down by $854 thousand, reflecting lower transaction volume.

Noninterest Expense

Noninterest expense was down by $218 thousand, or 1%. Adjusted noninterest expense (non-GAAP) was up by $2.0 million, or 6%, from the first quarter of 2025.

•Salaries and employee benefits expense increased by $693 thousand, or 3%, largely reflecting higher payroll taxes associated with the start of a new calendar year. Compared to the first quarter of 2025, salaries and employee benefits expense increased by $1.9 million, or 9%, reflecting staffing increases, including the addition of resources in our commercial banking and wealth management business lines.

•Other noninterest expenses were down by $1.2 million, or 31%, largely due to a $1.0 million contribution made by Washington Trust to its charitable foundation in the prior quarter.

Income Tax

Income tax expense was down by $1.2 million. The effective tax rate was 21.6%, compared to 22.7%. The Corporation expects its full-year 2026 effective tax rate to be approximately 21.5%.

FINANCIAL CONDITION (Mar 31, 2026 vs. Dec 31, 2025, unless otherwise noted):

Investment Securities

The securities portfolio totaled $912 million, down by $28 million, or 3%, and remained at 14% of total assets