Wed, May 7, 1:54 PM (16 days ago)
**Washington Trust Bancorp, Inc. (WASH) Q1 2025 Financial Summary** **Ticker:** WASH **Quarterly Financial Health:** - **Revenue:** $59.1 million, up 21% YoY. - **Net Income:** $12.2 million, up 11% YoY. - **Earnings per Share (EPS):** $0.63, slightly down from $0.64 YoY. - **Return on Assets (ROA):** 0.73%, up from 0.61% YoY. - **Return on Equity (ROE):** 9.63%, up from 9.33% YoY. - **Net Interest Margin (NIM):** 2.29%, up from 1.84% YoY. **Performance Metrics:** - **Loan Portfolio:** $5.1 billion, down 1% YoY. - Commercial Real Estate: $2.1 billion, down 1% YoY. - Commercial & Industrial: $535 million, down 1% YoY. - Residential Real Estate: $2.1 billion, down 1% YoY. - Consumer: $314 million, down 0.3% YoY. - **Deposit Portfolio:** $5.0 billion, down 1% YoY. - Noninterest-bearing: $626 million. - Interest-bearing: $4.4 billion. - **Asset Quality:** - Nonperforming Assets: $21.6 million, down from $23.3 million YoY. - Allowance for Credit Losses: $41.1 million, down from $42.0 million YoY. - Net Charge-offs: $2.3 million, up from $52 thousand YoY. **Trends & Uncertainties:** - **Interest Rate Sensitivity:** The bank's net interest income is sensitive to changes in interest rates. The ALCO manages interest rate risk through various strategies, including interest rate contracts. - **Economic Conditions:** The bank's results are influenced by general business and economic conditions, including interest rate changes, loan demand, and collectability. - **Regulatory Environment:** The bank is subject to various regulatory requirements, including capital adequacy and liquidity standards. **Future Operations Impact:** - **Growth Strategy:** The bank aims to grow through convenient in-person service and digital banking solutions. - **Risk Management:** The bank has a comprehensive Enterprise Risk Management (ERM) program to identify, measure, monitor, and control risks. - **Capital Management:** The bank maintains strong capital levels, with a total risk-based capital ratio of 13.13% as of March 31, 2025. **Conclusion:** Washington Trust Bancorp, Inc. reported solid Q1 2025 results, with growth in revenue and net income, and improved profitability ratios. The bank's loan and deposit portfolios remained stable, and asset quality indicators were positive. However, the bank faces uncertainties related to interest rate changes and economic conditions. The bank's focus on growth, risk management, and capital management positions it well for future operations.