Washington Trust Bancorp Reports Increased Q2 Net Income

By Hao Liu • Tuesday, July 22 06:05 • Permanent Link

Washington Trust Bancorp, Inc. has reported its second quarter 2025 results, showing an increase in net income from the previous quarter. The net income for the second quarter was $13.2 million, or $0.68 per diluted share, up from $12.2 million, or $0.63 per diluted share in the first quarter of 2025.

The net interest margin stood at 2.36% in the second quarter, up by 7 basis points from the 2.29% reported in the preceding quarter. Additionally, the provision for credit losses decreased to $600 thousand for the second quarter, compared to $1.2 million in the first quarter.

Wealth management revenues in the second quarter increased by 2% from the preceding quarter, while mortgage banking revenues saw a substantial increase of 32% from the preceding quarter. Total loans amounted to $5.1 billion, up by 1% from March 31, 2025, and in-market deposits grew by 1% from the previous quarter and 9% from June 30, 2024.

Net interest income for the second quarter was $37.2 million, up by $763 thousand, or 2%, from the first quarter of 2025, and the net interest margin increased by 7 basis points from the preceding quarter to 2.36%.

Noninterest income was $17.1 million for the second quarter of 2025, down by $5.6 million, or 24.6%, from the first quarter of 2025. Excluding an infrequent transaction from the previous quarter, adjusted noninterest income was up by $1.4 million, or 9%.

Noninterest expense totaled $36.5 million for the second quarter of 2025, down by $5.7 million, or 13%, from the first quarter of 2025. Excluding another infrequent transaction from the previous quarter, adjusted noninterest expense was up by $770 thousand, or 2%.

Total shareholders' equity was $527.5 million at June 30, 2025, up by $5.8 million, or 1%, from March 31, 2025. The board of directors declared a quarterly dividend of 56 cents per share for the quarter ended June 30, 2025.

Washington Trust Bancorp, Inc. is the parent of the Washington Trust Company, the oldest community bank in the nation, and one of the northeast's premier financial services companies. Today the company's shares have moved 0.52% to a price of $29.23. For the full picture, make sure to review WASHINGTON TRUST BANCORP INC's 8-K report.

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