What is Washington Trust Bancorp's gross profit margin?

What were the key takeaways from Washington Trust Bancorp's earnings call?

What were the key takeaways from Washington Trust Bancorp’s earnings call?

What is Washington Trust Bancorp's latest dividend and current dividend yield?

What is the market's earnings forecast for Washington Trust Bancorp next quarter?

What guidance did Washington Trust Bancorp's management provide for the next earnings period?

Did Washington Trust Bancorp beat or miss consensus estimates last quarter?

What does Washington Trust Bancorp do and what are its main business segments?

- **Record Q4 Earnings**: $16 million net income (+41% YoY), driven by 2.56% margin and 9% AUA growth.
- **Strategic Growth**: New C&I team targeting $180M+ pipeline; Pawtucket branch to open late 2026.
- **Margin Expansion**: 2026 NIM target 2.78%-2.82%, +13 bps from swap termination and 3-4 bps organic growth.
- **Credit Strength**: 0 nonaccrual CRE/C&I loans; classified asset maturing in 2031 with strong sponsor support.
- **Expense Control**: Full-year expense growth 7%, with $750K charitable contribution in 2026.

**【CEO Summary Section】**
- **Q4 2025 Performance Highlights**: Net income of $16 million ($0.83 EPS), up 41% year-over-year on an adjusted basis. Margin expanded to 2.56%, driven by deposit growth and rate management. Wealth management AUA grew 9% YoY, and mortgage originations rose 31% YoY.
- **Strategic Investments**: Acquired wealth assets from Lighthouse Financial and added a high-quality C&I team to target Northeast nonprofits. New Pawtucket branch to expand retail presence.
- **2026 Outlook**: Target 5% loan growth, with focus on C&I and CRE. Expect margin expansion of 3-4 bps per quarter, plus 13 bps from swap termination benefits.

**【CFO Financial Commentary】**
- **Revenue Growth**: Net interest income $40.7 million (+5% QoQ, +24% YoY). Noninterest income up 5% QoQ, 15% YoY, driven by wealth and mortgage fees.
- **Expense Management**: Q4 noninterest expense $38 million (+6% QoQ), with $1 million charitable contribution. Full-year expense growth 7%.
- **Credit Quality**: Provision normalized; nonaccruing loans at 25 bps of total loans. Full-year recoveries offset losses.

**【Q&A Key Highlights】**
- **Margin Sustainability**: CFO expects 2.78%-2.82% NIM by Q4 2026, with 13 bps from swap termination. CEO highlights 4-5% C&I loan growth potential.
- **Expense Outlook**: Q1 2026 expenses up 6% due to merit hikes and new team costs. Full-year expense growth ~7%.
- **Credit Reserves**: At mid-70s coverage ratio, conservative for residential portfolio. No CRE or C&I nonperformers.
- **Wealth Management**: AUM fee rate ~60 bps. New financial planning role to enhance retention.
- **Buybacks**: CET1 at 12.3%, but no immediate buyback plans; prioritizing strategic investments.

Washington Trust Bancorp, Inc. (WASH) Q4 2025 Earnings Call Transcript

- **Credit Challenges Offset by Growth**: $11.3M charge-offs vs +$195M AUM from Lighthouse acquisition
- **Margin Expansion**: 2.40% (55bps YoY) with Q4 guidance for +5bps
- **Expense Control**: Q3 noninterest expense down 2%, but Q4 guidance up to $37M
- **Share Buyback Pause**: Completed $7M program, pausing to preserve capital
- **Strong Liquidity**: Deposits up $179M QoQ, loan-to-deposit ratio 98%
- **Strategic Hires**: Jim Brown to drive commercial banking growth
- **Risk Management**: Allowance coverage 261%, nonaccruing loans 27bps of total

**【CEO Summary Section】**
- Reported net income of $10.8 million for Q3 2025, with elevated provision for credit losses due to resolution of two significant credit exposures ($11.3 million charge-offs). 
- Core business performance highlights: 
  - Wealth management AUM grew by $195 million via Lighthouse acquisition
  - Mortgage banking revenue up 22% YoY
  - In-market deposits increased $179 million (4% QoQ)
- Strategic hires: Jim Brown (38+ years experience) as Chief Commercial Banking Officer to integrate commercial and wealth services
- 2025 Q3 marks 225th anniversary, reinforcing 225-year commitment to customers and communities

**【CFO Financial Commentary】**
- **Net Income**: $10.8 million ($0.56 EPS) vs $13.2 million ($0.68 EPS) prior quarter
- **PPNR Growth**: +17% QoQ, +48% YoY
- **Net Interest Income**: $38.8 million (+4% QoQ, +20% YoY)
- **Margin Expansion**: 2.40% (up 4bps QoQ, 55bps YoY)
- **Noninterest Income**: $12.1 million (+3% QoQ, +8% YoY)
- **Expense Management**: 
  - Total noninterest expense $35.7 million (-2% QoQ)
  - Salaries down $351k (-2%) due to lower performance-based comp
  - Outsourced services down $284k (-6%)
- **Balance Sheet**: 
  - Loans down $18 million
  - Deposits up $179 million (4% QoQ)
  - Loan-to-deposit ratio 98% (down 3.8pts)
- **Share Repurchases**: 
  - Q3: 237k shares ($6.4 million)
  - Oct: 21k shares ($0.5 million)
  - Total $7 million program completed
  - Dividend yield on buybacks: 8.26%

**【Q&A Key Highlights】**
- **Credit Portfolio**: 
  - $173 million shared national credits ($90M CRE, $84M C&I)
  - Allowance coverage 261% vs nonaccruals
  - Class A office property ($22M) downgraded to special mention due to tenant vacancies, but strong sponsorship and LOI for new tenants
- **Expense Guidance**: 
  - Q4 noninterest expense ~$37 million (aligned with original 2025 guidance)
  - Includes $0.5 million foundation contribution
- **Buyback Pause**: 
  - Pausing additional repurchases to maintain capital for growth
  - Currently below capital ratio targets
- **Margin Outlook**: 
  - Q4 margin expansion ~5bps
  - Driven by deposit growth and reduced wholesale funding
- **Risk Management**: 
  - No NDFI exposure
  - Nonaccruing loans 27bps of total loans (98% collateralized)
  - Past due loans 16bps (98% collateralized)

Washington Trust Bancorp, Inc. (WASH) Q3 2025 Earnings Call Transcript

- **Revenue Growth**: Q2 net income up 8% to $13.2M, driven by 2% NII growth and 32% mortgage banking expansion.
- **Margin Expansion**: NIM 2.36% (+7bps), with modest further gains expected in Q3.
- **Wealth Recovery**: Wealth AUA +5% to $7.2B, new talent additions and system upgrades to stem 13Q outflows.
- **Credit Resilience**: Allowance 80bps, 157% coverage. Broadband contractor exposure ($11M) in resolution.
- **Strategic Caution**: Rhode Island-focused organic growth, 1 new branch planned 2026. Buyback limited to 10,000 shares.

**【CEO Summary Section】**
- **Solid Q2 Performance**: Revenue growth driven by net interest income (+2%), wealth management (+2%), and mortgage banking (+32%). Total loans up $44M (1%), deposits +$30M (1%).
- **Wealth Management Expansion**: Added new client services manager and business development roles. Core wealth system conversion completed to enhance customer experience.
- **Strategic Focus**: Emphasized organic growth in Rhode Island before considering Massachusetts expansion. Maintained independence while evaluating M&A opportunities.

**【CFO Financial Commentary】**
- **Earnings Growth**: Net income $13.2M ($0.68/share) vs. $12.2M ($0.63) prior quarter. Adjusted net income +$1.5M (12.5%).
- **Margin Expansion**: NIM 2.36% (+7bps). Noninterest income $17.1M, excluding one-time gains. Wealth AUA up 5% to $7.2B.
- **Expense Management**: Noninterest expense $36.5M (+2%), driven by mortgage compensation. Tax rate 22.7%, full year expected 22.4%.
- **Balance Sheet Strength**: In-market deposits +9% YoY. Allowance for loan losses 80bps, coverage 157%.

**【Q&A Key Highlights】**
- **NIM Outlook**: Marginal expansion in Q3, limited impact from potential Fed cuts due to liability sensitivity.
- **Mortgage Mix**: 75% purchase loans, 30-year fixed dominant. Pipeline $102M (+7%).
- **Credit Quality**: Nonaccrual loans 51bps, provision $600K. Broadband contractor exposure ($11M) in resolution. Multifamily loan 62% leased.
- **Share Buyback**: 10,000 shares repurchased, capital preservation prioritized over aggressive buybacks.
- **Expansion Plans**: 1 new branch planned mid-2026. No immediate de novo entries in MA.


Washington Trust Bancorp, Inc. (WASH) Q2 2025 Earnings Call Transcript

- **Deposit Growth Triumph**: Market deposits hit $5.013B, highest ever, driven by targeted promotions and branch expansion.
- **NIM Expansion Momentum**: Q1 NIM 2.29% (+34bps), Q2 target 2.35%, positioning for rate-neutral environment.
- **Pipeline Confidence**: Commercial pipeline >$100M, residential +59% to $95M, supporting low-single-digit loan growth.
- **Credit Resilience**: Allowance 81bps of loans, 190% NPL coverage, minimal credit stress despite economic uncertainty.
- **Capital Flexibility**: CET1 11.76%, dividend coverage stable, exploring buybacks as payout ratio improves.

**【CEO Summary Section】**
- **Balance Sheet Restructuring Success**: Q4 actions drove NIM improvement and reduced loan-to-deposit ratio to 100.7% from 105.5%. Market deposits reached $5.013B, a record high.
- **Pipeline Growth**: Despite $42M loan decline, commercial pipeline exceeds $100M, supporting low-single-digit growth guidance. Residential pipeline up 59% to $95M.
- **Branch Expansion**: Added retail sales officers to complement branch lending, enhancing deposit and loan opportunities.

**【CFO Financial Commentary】**
- **Earnings Performance**: Q1 net income $12.2M ($0.63 EPS), adjusted for one-time gains to $11.8M ($0.61 EPS). Net interest income up 11% to $36.4M, NIM 2.29% (+34bps).
- **Cost Management**: Noninterest expenses $35.8M (+4%), driven by pension settlement ($6.4M noncash charge). Deposit growth offset FHLB borrowings reduction.
- **Capital Strength**: CET1 11.76%, total capital 13.13%. Dividend coverage stable at $0.56/share.
- **Credit Quality**: Nonaccrual loans 0.42%, allowance 81bps of loans, coverage 190%.

**【Q&A Key Takeaways】**
- **Expense Guidance**: 2025 noninterest expenses expected near $37M/quarter, excluding one-time items. Deposit promotion costs offset by growth.
- **Net Interest Margin**: Q2 NIM target 2.35%, potential for further expansion if deposit costs decline.
- **Dividend Policy**: Payout ratio 80%+ in 2025, targeting mid-80s by year-end. No buyback plan yet, but under consideration.
- **Credit Risk**: Large CRE loan 50% leased, performing. Nonaccrual Class B properties expected to resolve in Q2/Q3.

Washington Trust Bancorp (WASH)-21 Apr 25-2025 Q1 Earnings call transcript

- **Capital Raise Impact**: $70.5M December raise enables 2025 NIM expansion to 2.45-2.50% (from 1.95% in Q4 2024).
- **Loan Growth Target**: 3%+ C&I expansion, offsetting 75%+ resi loan sales.
- **Expense Reset**: Salaries to rise 2025 due to incentive comp restoration and hiring.
- **Credit Strength**: Non-accruals at 45bps, allowance coverage 180%, CRE reserve 125bps.

**【CEO Opening Remarks】**
- Announced a $70.5 million capital raise in December, followed by balance sheet repositioning: sold $345M in residential loans and reduced expensive wholesale funding.
- Despite Q4 loss from asset sales, actions will enhance future revenue and growth capacity.
- Hired Michelle Kile as Head of Retail Banking to drive deposit growth strategies.

**【CFO Financial Highlights】**
- Q4 net loss: $60.8M ($3.46/share), driven by $70.5M capital raise-related losses. Adjusted net income: $10.4M ($0.59/share).
- Net interest income: $32.9M (+2%), margin: 1.95% (up 10bps vs. prior quarter).
- Loans down 7% ($377M) due to $345M residential loan sale; in-market deposits up 1% ($26M).
- Credit quality strong: non-accruing loans 45bps (vs. 56bps prior quarter), allowance coverage 180%.

**【Q&A Key Takeaways】**
1. **Net Interest Margin Outlook**: 
   - Q1 2025 NIM: 2.30-2.35%, rising to 2.45-2.50% by Q4 as FHLB funding is paid down.
   - Spot margin in December: 2.07%.
2. **Loan Growth Strategy**: 
   - Target 3%+ commercial loan growth (C&I-focused), with resi portfolio expected to decline.
   - Pipeline rebuilding post-2024 slowdown, with CRE concentration under 3.5%.
3. **Expense Management**: 
   - Salaries & benefits to increase due to restored incentive comp and headcount reinvestment.
   - Q4 2025 run rate: $23.5M/Q in salaries, $13.5M/Q in other expenses.
4. **Dividend Policy**: 
   - No dividend change planned; coverage ratio improved due to capital raise.
5. **Credit Quality**: 
   - CRE segment reserve ~125bps; no specific office portfolio reserve.
   - Large lab space 52% leased, with 2025 occupancy pickup expected.

Actual									0.68	1.21	1.06	1.07	1.17	1	1.07	1.15	0.94	1.14	1.08	0.95	0.74	0.66	0.65	0.76	0.64	0.63	0.64	-3.46	0.63	0.68	0.56	0.83
Forecast									0.786	0.596	1.038	0.966	1.044	1.066	0.956	0.978	0.918	0.905	1.0025	1.09	0.9	0.6267	0.5825	0.5675	0.4525	0.4933	0.5567	0.58	0.63	0.6329	0.4643	0.7494
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-13.49%	+103.02%	+2.12%	+10.77%	+12.07%	-6.19%	+11.92%	+17.59%	+2.40%	+25.97%	+7.73%	-12.84%	-17.78%	+5.31%	+11.59%	+33.92%	+41.44%	+27.71%	+14.96%	-696.55%	0.00%	+7.44%	+20.61%	+10.76%

WASH

WASH fundamentals

WASH Q4 2025 Earnings

Earnings Call

You can ask Aime

WASH

WASH fundamentals

WASH Q4 2025 Earnings

Earnings Call

WASH Earnings Call Summary for Q4/20258:30 AM on Jan 29, 2026

WASH Earnings Call Summary for Q3/20258:30 AM on Oct 21, 2025

WASH Earnings Call Summary for Q2/20258:30 AM on Jul 22, 2025

WASH Earnings Call Summary for Q1/202510:00 AM on Apr 21, 2025

WASH Earnings Call Summary for Q4/20248:30 AM on Jan 30, 2025

You can ask Aime