Business Segments (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Statement of Operations and Total Assets by Reportable Segment

The following tables present the statement of operations and total assets for Washington Trust’s reportable segments:

(Dollars in thousands)	Commercial Banking		Wealth Management Services		Consolidated Total
Three months ended September 30,	2023	2022	2023	2022	2023	2022
Net interest income	$33,741	$42,038	$10	$4	$33,751	$42,042
Provision for credit losses	500	800	—	—	500	800
Net interest income after provision for credit losses	33,241	41,238	10	4	33,251	41,242
Noninterest income	6,105	6,043	9,121	9,760	15,226	15,803
Noninterest expenses:
Depreciation and amortization expense	892	751	346	348	1,238	1,099
Other noninterest expenses	25,719	23,995	7,433	7,973	33,152	31,968
Total noninterest expenses	26,611	24,746	7,779	8,321	34,390	33,067
Income before income taxes	12,735	22,535	1,352	1,443	14,087	23,978
Income tax expense	2,621	4,878	305	432	2,926	5,310
Net income	$10,114	$17,657	$1,047	$1,011	$11,161	$18,668
Total assets at period end	$7,127,117	$6,332,986	$56,358	$75,065	$7,183,475	$6,408,051
Expenditures for long-lived assets	498	1,206	6	137	504	1,343

(Dollars in thousands)	Commercial Banking		Wealth Management Services		Consolidated Total
Nine months ended September 30,	2023	2022	2023	2022	2023	2022
Net interest income (expense)	$104,407	$114,709	$37	($61)	$104,444	$114,648
Provision for credit losses	2,000	(2,100)	—	—	2,000	(2,100)
Net interest income (expense) after provision for credit losses	102,407	116,809	37	(61)	102,444	116,748
Noninterest income	15,679	18,174	27,155	30,640	42,834	48,814
Noninterest expenses:
Depreciation and amortization expense	2,582	2,168	1,059	1,034	3,641	3,202
Other noninterest expenses	74,801	69,110	22,528	23,051	97,329	92,161
Total noninterest expenses	77,383	71,278	23,587	24,085	100,970	95,363
Income before income taxes	40,703	63,705	3,605	6,494	44,308	70,199
Income tax expense	8,226	13,423	853	1,668	9,079	15,091
Net income	$32,477	$50,282	$2,752	$4,826	$35,229	$55,108
Total assets at period end	$7,127,117	$6,332,986	$56,358	$75,065	$7,183,475	$6,408,051
Expenditures for long-lived assets	3,493	3,494	31	330	3,524	3,824