Business Segments (Tables)

6 Months Ended

Jun. 30, 2024

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 June 30,	2024	2023	2024	2023	2024	2023
Net interest income	$31,585	$33,486	$—	$14	$31,585	$33,500
Provision for credit losses	500	700	—	—	500	700
Net interest income after provision for credit losses	31,085	32,786	—	14	31,085	32,800
Noninterest income	6,651	5,142	10,009	9,183	16,660	14,325
Noninterest expenses:
Depreciation and amortization expense	893	858	311	358	1,204	1,216
Other noninterest expenses	26,026	24,449	6,680	7,351	32,706	31,800
Total noninterest expenses	26,919	25,307	6,991	7,709	33,910	33,016
Income before income taxes	10,817	12,621	3,018	1,488	13,835	14,109
Income tax expense	2,342	2,518	678	335	3,020	2,853
Net income	$8,475	$10,103	$2,340	$1,153	$10,815	$11,256
Total assets at period end	$7,125,943	$6,938,357	$58,417	$73,403	$7,184,360	$7,011,760
Expenditures for long-lived assets	1,598	1,859	22	17	1,620	1,876

(Dollars in thousands)	Commercial Banking		Wealth Management Services		Consolidated Total
Six months ended June 30,	2024	2023	2024	2023	2024	2023
Net interest income	$63,250	$70,666	$—	$27	$63,250	$70,693
Provision for credit losses	1,200	1,500	—	—	1,200	1,500
Net interest income after provision for credit losses	62,050	69,166	—	27	62,050	69,193
Noninterest income	12,223	9,573	21,600	18,035	33,823	27,608
Noninterest expenses:
Depreciation and amortization expense	1,786	1,690	628	713	2,414	2,403
Other noninterest expenses	52,166	49,082	13,693	15,095	65,859	64,177
Total noninterest expenses	53,952	50,772	14,321	15,808	68,273	66,580
Income before income taxes	20,321	27,967	7,279	2,254	27,600	30,221
Income tax expense	4,248	5,605	1,601	548	5,849	6,153
Net income	$16,073	$22,362	$5,678	$1,706	$21,751	$24,068
Total assets at period end	$7,125,943	$6,938,357	$58,417	$73,403	$7,184,360	$7,011,760
Expenditures for long-lived assets	2,156	2,995	90	25	2,246	3,020