Washington Trust Bancorp, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022
January 26, 2023 at 02:35 am IST
Share
Washington Trust Bancorp, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported net interest income was USD 41.34 million compared to USD 37.74 million a year ago. Net income was USD 16.57 million compared to USD 20.19 million a year ago. Basic earnings per share from continuing operations was USD 0.96 compared to USD 1.16 a year ago. Diluted earnings per share from continuing operations was USD 0.95 compared to USD 1.15 a year ago.
For the full year, net interest income was USD 155.99 million compared to USD 141.44 million a year ago. Net income was USD 71.68 million compared to USD 76.87 million a year ago. Basic earnings per share from continuing operations was USD 4.14 compared to USD 4.43 a year ago. Diluted earnings per share from continuing operations was USD 4.11 compared to USD 4.39 a year ago.
Washington Trust Bancorp, Inc. is a holding company of The Washington Trust Company (the Bank). The Bank is a state-chartered bank and financial services company. The Company operates through two segments: Commercial Banking and Wealth Management Services. The Commercial Banking segment includes commercial, residential and consumer lending activities; mortgage banking activities; deposit generation; cash management activities; banking activities, including customer support and the operation of automated teller machines (ATMs), telephone banking, internet banking and mobile banking services; as well as investment portfolio and wholesale funding activities. The Wealth Management Services segment includes investment management; holistic financial planning services; personal trust and estate services, including services as trustee, personal representative and custodian; settlement of decedentsâ estates; and institutional trust services, including custody and fiduciary services.