Washington Trust Reports Third Quarter 2026 Results
Washington Trust Bancorp reported Q3 2026 net income of $19.4 million, up 21% from Q2 and 79% from Q3 2025, with diluted EPS of $1.01 versus $0.83 in the prior quarter. Net interest income rose 7% sequentially to $44.7 million as NIM expanded 11 bps to 2.84%, while ROE improved to 13.89% and deposits hit an all-time high of $5.4 billion. Asset quality improved markedly after resolution of a $22.3 million CRE office loan: nonaccrual loans fell to $24.5 million (0.48% of loans) from $39.8 million, though net charge-offs rose to $3.9 million on the related $3.8 million charge-off.
Key figures
- Eps
- 1.01
- Revenue Yoy
- net interest income +15% YoY; noninterest income +15% YoY
- Nim
- 2.84%
- Roa
- 1.17%
- Roe
- 13.89%
- Cet1 ratio
- 11.93%
- Net income
- 19381000
- Total loans
- 5164852000
- Total deposits
- 5436016000
- Efficiency ratio
- 59.7%
- Nonaccrual loans
- 24536000
- Net income qoq pct
- 21.3%
- Net income yoy pct
- 78.7%
- Nim change bps qoq
- 11
- Noninterest income
- 20265000
- Quarterly dividend
- 0.56
- Net interest income
- 44692000
- Noninterest expense
- 38797000
- Book value per share
- 27.82
- Provision credit losses
- 1800000
- Diluted eps prior quarter
- 0.83
- Tangible book value per share
- 24.27
- Full year effective tax rate guidance
- approximately 21.5%
AI analysis
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