Company Description
Current Stock Price:
Results Overview:
Fourth quarter net income of $16.0 million, or $0.83 per diluted share. This represented a significant jump from the $10.8million, or $0.56 per share, recorded in the third quarter of 2025. For the full year 2025, the corporation returned to profitability with a net income of $52.2 million, rebounding from a net loss of $28.1 million in 2024. CEO attributed the performance to “margin expansion, strong in-market deposit growth, and increases in wealth management and mortgage banking revenues”.
The Bank’s net interest margin (NIM) rose to 2.56% in the fourth quarter, a 16 basis point increase from the previous three months. This was supported by lower funding costs and an increase in loan prepayment income.
ASSET QUALITY AND DEPOSITS STABILIZE
Washington Trust saw a marked improvement in its credit profile during the final months of the year. The provision for credit losses normalized to $600,000, down sharply from the $6.8 million provision required in the third quarter. Net recoveries for the quarter totaled $160,000, a reversal from the $11.4 million in net charge-offs seen in the preceding period.
Other key operational highlights for the quarter included:
• Wealth Management: Revenues climbed 5% to $10.9 million, while assets under administration reached $7.78 billion.
• Mortgage Banking: Residential mortgage loan originations increased 21% to $209.3 million, and total loans sold rose $25,158 million.
• Deposits: In-market deposits (total deposits excluding wholesale brokered deposits) grew 1% from September to $5.27 billion, representing a 9% increase over the full year.
OUTLOOK AND CAPITAL
Washington Trust maintained a strong capital position as it entered 2026, with a total risk-based capital ratio of 12.95%. The firm’s board declared a quarterly dividend of $0.56 per share