Washington Trust Bancorp, Inc. (WASH)

Washington Trust Bancorp Income Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	301.07	271.31	170.47	143.08	147.19
Interest Income on Investments	39.61	37.35	24	14.91	22.75
Total Interest Income	340.68	308.66	194.47	158	169.94
Interest Paid on Deposits	146.1	120.43	26.02	12.39	25.81
Interest Paid on Borrowings	66.13	51.13	12.45	4.17	16.68
Total Interest Expense	212.23	171.56	38.48	16.56	42.49
Net Interest Income	128.45	137.1	155.99	141.44	127.44
Net Interest Income Growth (YoY)	-6.31%	-12.11%	10.29%	10.98%	-4.47%
Trust Income	39.05	35.54	38.75	41.28	35.45
Mortgage Banking Activities	10.98	6.66	8.73	28.63	47.38
Gain (Loss) on Sale of Investments	-31.05	-	-	-	-
Other Non-Interest Income	13.07	11.13	11.93	14.8	13.87
Total Non-Interest Income	-27.8	56.14	62.6	87.39	99.44
Non-Interest Income Growth (YoY)	-	-10.32%	-28.37%	-12.12%	48.24%
Revenues Before Loan Losses	100.65	193.24	218.59	228.83	226.89
Provision for Loan Losses	2.4	3.2	-1.3	-4.82	12.34
Revenue	98.25	190.04	219.89	233.65	214.54
Revenue Growth (YoY)	-48.30%	-13.58%	-5.89%	8.91%	7.85%
Salaries and Employee Benefits	86.26	80.39	80.56	83.98	79.13
Occupancy Expenses	9.79	4.96	4.86	4.37	4.05
Federal Deposit Insurance	5.51	4.67	1.69	1.59	1.82
Amortization of Goodwill & Intangibles	0.83	0.84	0.86	0.89	0.91
Selling, General & Administrative	25.85	32.03	30.76	29.3	28.68
Other Non-Interest Expense	8.84	10.66	10	8.41	9.38
Total Non-Interest Expense	137.07	133.56	128.72	128.53	123.97
EBT Excluding Unusual Items	-38.82	56.48	91.17	105.12	90.57
Other Unusual Items	-	-	-	-6.93	-1.41
Pretax Income	-38.82	56.48	91.17	98.19	89.16
Income Tax Expense	-10.76	8.31	19.49	21.32	19.33
Net Income	-28.06	48.18	71.68	76.87	69.83
Preferred Dividends & Other Adjustments	-0.02	0.09	0.2	0.22	0.15
Net Income to Common	-28.04	48.09	71.48	76.65	69.68
Net Income Growth	-	-32.79%	-6.75%	10.08%	1.03%
Basic Shares Outstanding	17	17	17	17	17
Diluted Shares Outstanding	17	17	17	17	17
Shares Change (YoY)	0.94%	-1.84%	-0.42%	0.30%	-0.07%
EPS (Basic)	-1.63	2.82	4.14	4.43	4.03
EPS (Diluted)	-1.63	2.82	4.11	4.39	4.00
EPS Growth	-	-31.39%	-6.38%	9.75%	1.01%
Dividend Per Share	2.240	2.240	2.180	2.100	2.050
Dividend Growth	0%	2.75%	3.81%	2.44%	2.50%
Effective Tax Rate	-	14.70%	21.38%	21.71%	21.68%

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