Damon Del Monte

Mark Fitzgibbon

Laurie Hunsicker

Laura Havener Hunsicker

- Washington Trust Bancorp reported **net income of $10.8 million** or **$0.56 per share** for Q3 2025, with a **net interest margin of 2.40%**, an increase of **4 basis points** from the preceding quarter.  **[0000737468_2193331_1]** 
- The company recorded **$11.3 million in charge-offs** during the quarter due to the resolution of two significant credit exposures, which resulted in an elevated provision for credit losses.  **[0000737468_2193331_0]** **[0000737468_2193331_1]** 
- Strategic investments included the acquisition of **$195 million** in Assets Under Management (AUM) from Lighthouse Financial Management and the hiring of a new Chief Commercial Banking Officer.  **[0000737468_2193331_0]** **[0000737468_2193331_1]** 
- Washington Trust repurchased **237,000 shares** for **$6.4 million** in Q3 2025, completing its **$7 million** internal buyback allocation, and plans to pause further repurchases to support capital levels for expected commercial lending growth.  **[0000737468_2193331_1]** **[0000737468_2193331_3]** **[0000737468_2193331_4]** 
- Management anticipates a **5 basis point** margin expansion in Q4 2025 and projects low single-digit loan growth for the full year.  **[0000737468_2193331_3]**

Washington Trust Bancorp Reports Q3 2025 Results with Elevated Credit Losses and Strategic Investments

- **Washington Trust Bancorp reported Q3 2025 net income of $10.8 million, or $0.56 per share**, a decrease from $13.2 million ($0.68 per share) in the prior quarter, primarily due to an **elevated provision for credit losses from resolving two significant credit exposures**.  **[0000737468_2193353_0]** **[0000737468_2193353_1]** 
- Despite the credit provisions, the company saw **strong performance in core business lines**, with net interest income up 4% linked quarter to **$38.8 million**, wealth management revenues up 3% (including **$195 million in AUM from an asset purchase**), and mortgage banking revenues up 15%.  **[0000737468_2193353_0]** **[0000737468_2193353_1]** 
- **End market deposits increased by $179 million (4%)** from Q2 2025, contributing to a 21% decrease in wholesale funding linked quarter, and the loan to deposit ratio decreased by 3.8 percentage points to 98%.  **[0000737468_2193353_1]** 
- The company completed its **$7 million internal share repurchase program**, buying back **237,000 shares in Q3 at an average price of $27.18** and an additional 21,000 shares in October, and will now **pause further repurchases** to maintain capital levels for anticipated commercial lending growth.  **[0000737468_2193353_1]** **[0000737468_2193353_3]** **[0000737468_2193353_4]** 
- Management expects **margin expansion of approximately five basis points in Q4** and anticipates **low single-digit loan growth for the full year**.  **[0000737468_2193353_3]**

Washington Trust Bancorp Reports Q3 2025 Net Income of $10.8 Million, Resolves Credit Exposures, and Pauses Share Buybacks

- Washington Trust Bancorp reported net income of **$10.8 million**, or **$0.56 per diluted share**, for the third quarter of 2025, a decrease from $13.2 million, or $0.68 per diluted share, in the second quarter of 2025.  **[737468_0000737468-25-000057_exhibit9912025q3.htm:0]** 
- The net interest margin increased by **4 basis points** from the preceding quarter to **2.40%** in Q3 2025.  **[737468_0000737468-25-000057_exhibit9912025q3.htm:0]** 
- A provision for credit losses on loans of **$7.0 million** was recognized in Q3 2025, significantly higher than $650 thousand in Q2 2025, primarily due to **$11.3 million in charge-offs** on two commercial loan relationships.  **[737468_0000737468-25-000057_exhibit9912025q3.htm:0]** **[737468_0000737468-25-000057_exhibit9912025q3.htm:2]**  Nonaccrual commercial loans decreased to **$1.0 million** at September 30, 2025, from $14.0 million at June 30, 2025.  **[737468_0000737468-25-000057_exhibit9912025q3.htm:0]** 
- Wealth management asset-based revenues grew by **6%** and mortgage banking revenues increased by **15%** from the preceding quarter.  **[737468_0000737468-25-000057_exhibit9912025q3.htm:0]**  In-market deposits rose by **4%** to **$5.2 billion** from June 30, 2025.  **[737468_0000737468-25-000057_exhibit9912025q3.htm:0]** 
- The company made strategic investments, including hiring a new senior executive for its commercial banking division and purchasing client accounts of Lighthouse Financial Management, LLC, which added approximately **$195 million** of managed assets.  **[737468_0000737468-25-000057_exhibit9912025q3.htm:0]**  The Board of Directors declared a quarterly dividend of **56 cents per share** for Q3 2025, and the Corporation repurchased **236,803 shares** for **$6.4 million**.  **[737468_0000737468-25-000057_exhibit9912025q3.htm:2]**

Washington Trust Bancorp Reports Q3 2025 Results

- Washington Trust Bancorp, Inc. reported **net income of $10.8 million**, or **$0.56 per diluted share**, for the third quarter of 2025, which is down from $13.2 million, or $0.68 per diluted share, in the second quarter of 2025.  **[737468_20251020NE01225:0]** 
- Net interest income for the third quarter of 2025 was **$38.8 million**, representing a **4% increase** from the preceding quarter, and the net interest margin expanded to **2.40%**, up 4 basis points.  **[737468_20251020NE01225:0]** 
- The company experienced growth in noninterest income, with wealth management asset-based revenues increasing by **6%** and mortgage banking revenues increasing by **15%** from the preceding quarter.  **[737468_20251020NE01225:0]** 
- A **provision for credit losses on loans of $7.0 million** was recognized in the third quarter of 2025, compared to $650 thousand in the second quarter, and net charge-offs totaled **$11.4 million**.  **[737468_20251020NE01225:0]** **[737468_20251020NE01225:2]**  Nonaccrual loans decreased to **$14.0 million**, or **0.27%** of total loans, at September 30, 2025.  **[737468_20251020NE01225:2]** 
- The Board of Directors declared a quarterly dividend of **56 cents per share** for the third quarter of 2025, and the Corporation repurchased **236,803 shares** at a total cost of **$6.4 million** during the quarter.  **[737468_20251020NE01225:2]**

Washington Trust Bancorp Reports Third Quarter 2025 Results

- Washington Trust Bancorp, Inc. anticipates its **third quarter 2025 financial performance will be adversely affected by $11.3 million in charge-offs** from two commercial loan relationships.  **[737468_0000737468-25-000054_wash-20251008.htm:1]** 
- The company expects to recognize a **provision for credit losses on loans of $7.0 million** for Q3 2025 as a result of these charge-offs.  **[737468_0000737468-25-000054_wash-20251008.htm:1]** 
- The charge-offs include **$8.3 million** related to a telecom infrastructure construction contractor in Chapter 11 bankruptcy and **$3.0 million** from the sale of a nonaccrual commercial real estate loan.  **[737468_0000737468-25-000054_wash-20251008.htm:1]** 
- Following these actions, **commercial nonaccrual loans are expected to decrease to $1.0 million as of September 30, 2025**, compared to $14.0 million on June 30, 2025.  **[737468_0000737468-25-000054_wash-20251008.htm:1]**

WASHINGTON TRUST BANCORP (WASH)