Washington Trust Bancorp, Inc. (WASH)

Washington Trust Bancorp Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	303.37	271.31	170.47	143.08	147.19	166.76
Interest Income on Investments	39.42	37.35	24	14.91	22.75	30.91
Total Interest Income	342.79	308.66	194.47	158	169.94	197.66
Interest Paid on Deposits	149.03	120.43	26.02	12.39	25.81	37.1
Interest Paid on Borrowings	65.59	51.13	12.45	4.17	16.68	27.15
Total Interest Expense	214.62	171.56	38.48	16.56	42.49	64.25
Net Interest Income	128.17	137.1	155.99	141.44	127.44	133.41
Net Interest Income Growth (YoY)	-12.09%	-12.11%	10.29%	10.98%	-4.47%	0.85%
Trust Income	37.89	35.54	38.75	41.28	35.45	36.85
Mortgage Banking Activities	9.69	6.66	8.73	28.63	47.38	14.8
Gain (Loss) on Sale of Investments	-	-	-	-	-	-0.05
Other Non-Interest Income	12.9	11.13	11.93	14.8	13.87	11.81
Total Non-Interest Income	63.4	56.14	62.6	87.39	99.44	67.08
Non-Interest Income Growth (YoY)	11.97%	-10.32%	-28.37%	-12.12%	48.24%	7.99%
Revenues Before Loan Losses	191.57	193.24	218.59	228.83	226.89	200.49
Provision for Loan Losses	2.6	3.2	-1.3	-4.82	12.34	1.58
Revenue	188.97	190.04	219.89	233.65	214.54	198.92
Revenue Growth (YoY)	-5.33%	-13.58%	-5.89%	8.91%	7.85%	3.14%
Salaries and Employee Benefits	80.28	80.39	80.56	83.98	79.13	69.64
Occupancy Expenses	5.08	4.96	4.86	4.37	4.05	4.05
Federal Deposit Insurance	5.49	4.67	1.69	1.59	1.82	0.62
Amortization of Goodwill & Intangibles	0.83	0.84	0.86	0.89	0.91	0.94
Selling, General & Administrative	33.26	32.03	30.76	29.3	28.68	25.65
Other Non-Interest Expense	10.44	10.66	10	8.41	9.38	9.85
Total Non-Interest Expense	135.36	133.56	128.72	128.53	123.97	110.74
EBT Excluding Unusual Items	53.6	56.48	91.17	105.12	90.57	88.18
Other Unusual Items	-	-	-	-6.93	-1.41	-
Pretax Income	53.6	56.48	91.17	98.19	89.16	88.18
Income Tax Expense	7.92	8.31	19.49	21.32	19.33	19.06
Net Income	45.68	48.18	71.68	76.87	69.83	69.12
Preferred Dividends & Other Adjustments	0.02	0.09	0.2	0.22	0.15	0.14
Net Income to Common	45.66	48.09	71.48	76.65	69.68	68.98
Net Income Growth	-11.82%	-32.79%	-6.75%	10.08%	1.03%	1.00%
Basic Shares Outstanding	17	17	17	17	17	17
Diluted Shares Outstanding	17	17	17	17	17	17
Shares Change (YoY)	-0.21%	-1.84%	-0.42%	0.30%	-0.07%	0.13%
EPS (Basic)	2.68	2.82	4.14	4.43	4.03	3.98
EPS (Diluted)	2.67	2.82	4.11	4.39	4.00	3.96
EPS Growth	-11.40%	-31.39%	-6.38%	9.75%	1.01%	0.76%
Dividend Per Share	2.240	2.240	2.180	2.100	2.050	2.000
Dividend Growth	0%	2.75%	3.81%	2.44%	2.50%	13.64%
Effective Tax Rate	14.78%	14.70%	21.38%	21.71%	21.68%	21.62%

Source: S&P Capital IQ. Banks template. Financial Sources.