Business Segments (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Statement of Operations and Total Assets by Reportable Segment

The following tables presents the components of net income, as well as other supplemental information for Washington Trust’s reportable business segments:

(Dollars in thousands)	Commercial Banking		Wealth Management Services		Consolidated Total
Three months ended March 31,	2025	2024	2025	2024	2025	2024
Total interest income and dividend income	$79,463	$85,256	$—	$—	$79,463	$85,256
Total interest expense	43,041	53,591	—	—	43,041	53,591
Net interest income	36,422	31,665	—	—	36,422	31,665
Provision for credit losses	1,200	700	—	—	1,200	700
Net interest income after provision for credit losses	35,222	30,965	—	—	35,222	30,965
Noninterest income	12,635	5,572	10,008	11,591	22,643	17,163
Noninterest expenses:
Salaries and employee benefits	16,979	16,570	5,443	5,205	22,422	21,775
Outsourced services	3,265	2,848	1,081	932	4,346	3,780
Net occupancy	2,471	2,306	270	255	2,741	2,561
Equipment	815	901	76	119	891	1,020
Legal, audit and professional fees	527	590	223	116	750	706
FDIC deposit insurance costs	1,262	1,441	—	—	1,262	1,441
Advertising and promotion	348	466	62	82	410	548
Amortization of intangibles	—	—	204	208	204	208
Other expenses	6,879	1,911	2,291	413	9,170	2,324
Total noninterest expenses	32,546	27,033	9,650	7,330	42,196	34,363
Income before income taxes	15,311	9,504	358	4,261	15,669	13,765
Income tax expense	3,347	1,906	143	923	3,490	2,829
Net income	$11,964	$7,598	$215	$3,338	$12,179	$10,936
Supplemental Information:
Total assets at period end	$6,525,532	$7,190,644	$60,483	$58,480	$6,586,015	$7,249,124
Expenditures for long-lived assets	87	556	1	70	88	626
Depreciation expense (1)	808	892	86	109	894	1,001

(1)Included in net occupancy and equipment expenses in the table above.