Q3 2025 Washington Trust Bancorp Inc Earnings Call Transcript

Oct 21, 2025 / 12:30PM GMT

Release Date Price: $27.55 (+2.65%)

Transcript 8-K

Key Points

Positve

Washington Trust Bancorp Inc (WASH) reported a net income of $10.8 million for the third quarter.
The company saw strong performance across core business lines, with increases in margin, wealth revenues, and mortgage revenue.
In-market deposit levels increased by $179 million or 4% from the end of Q2 and by $431 million or 9% year-over-year.
The acquisition of Lighthouse Financial Management added approximately $195 million in assets under management (AUM) and expanded the Wealth Management division.
The company hired Jim Brown as Senior Executive Vice President and Chief Commercial Banking Officer, bringing over 38 years of experience to strengthen commercial relationships.

Negative

Net income decreased from $13.2 million in the previous quarter to $10.8 million in the third quarter.
The company resolved two significant credit exposures, resulting in an elevated provision for credit losses and charge-offs of $11.3 million.
Total loans decreased by $18 million during the quarter.
The loan-to-deposit ratio decreased by 3.8 percentage points to 98% as of September 30.
The company faced challenges with office property valuations, leading to significant charge-offs and questions about the reliability of appraisals.

Operator

Good morning, and welcome to Washington Trust Bancorp, Inc.'s conference call. My name is Lydia, and I'll be your operator today. (Operator Instructions) Today's call is being recorded. And now I'll turn you over to Sharon Walsh, Senior Vice President, Director of Marketing and Corporate Communications to begin. Please go ahead.

Sharon Walsh

Washington Trust Bancorp Inc - Senior Vice President and Director of Marketing and Corporate Communications

Thank you, Lydia. Good morning, and welcome to Washington Trust Bancorp, Inc.'s Conference Call for the Third Quarter of 2025. Joining us this morning are members of Washington Trust executive team, Ned Handy, Chairman and Chief Executive Officer; Mary Noons, President and Chief Operating Officer; Ron Ohsberg, Senior Executive Vice President, Chief Financial Officer and Treasurer; and Bill Wray, Senior Executive Vice President and Chief Risk Officer. Please note that today's presentation may contain forward-looking statements, and our actual results could differ materially from what is discussed on the call. Our

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