Q1 2026 Washington Trust Bancorp Inc Earnings Call Transcript

Apr 21, 2026 / 12:30PM GMT

Release Date Price: $30 (-16.90%)

Transcript 8-K

Key Points

Positve

Washington Trust Bancorp Inc (WASH) reported a net interest margin expansion, reflecting the strength of its core banking business.
The company completed a digital banking conversion for personal accounts, enhancing security and customer experience.
Washington Trust Bancorp Inc (WASH) is leveraging its community bank strengths to attract experienced bankers to its commercial team.
The institutional banking team added in January is showing strong momentum, positioning the company for loan and deposit growth.
A planned branch opening in Pataka, Rhode Island, will expand the company's presence in the northern part of the state.

Negative

Net income for the first quarter was $12.6 million, down from $16 million in the previous quarter.
The company reported a higher provision for credit losses due to reserve builds on two commercial real estate office loans moved to nonaccrual.
Non-interest income decreased by $1.2 million or 6% compared to the previous quarter.
Total loans decreased by 2% from December 31, with commercial loans down by $95 million.
End market deposits were down 2% from the end of the previous quarter.

Operator

Good morning, and welcome to Washington Trust Bancorp Incorporated Conference Call. My name is Elliot, and I'll be your operator today. (Operator Instructions) As a reminder, today's call is being recorded.

And now I'll turn the call over to Sharon Walsh, Senior Vice President, Director of Marketing and Corporate Communications. Please go ahead.

Sharon Walsh

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

Thank you, Elliot. Good morning, and welcome to Washington Trust Bancorp, Inc.'s conference call for the first quarter of 2026. Joining us this morning are members of Washington Trust's 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

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