WASHINGTON TRUST BANCORP INC — Form 8-K
Filed July 20, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 42/100
What the filing says
Washington Trust Bancorp reported Q2 2026 net income of $16.0M ($0.83/share), up $3.4M sequentially and $2.7M YoY. Key driver: on May 1, 2026, full amortization of deferred hedge loss eliminated $1.4M drag (9 bps), providing permanent NIM improvement. NIM expanded 10 bps QoQ to 2.73%, and 37 bps YoY. Deposits grew $194M (3.8%) to $5.36B; loans rose $88M (1.8%) to $5.1B. ROE 11.61%, ROA 0.99%. Common equity tier 1 ratio 11.89%. One CRE office loan ($28.9M) on nonaccrual drove past-due increase, but credit quality otherwise stable. Institutional banking team drove C&I growth (+$97.7M, 17.2%).
Why this rating
Earnings beat and NIM expansion are favorable, but modest absolute scale (~$16M income, $539M market cap). Permanent hedge amortization benefit is real but one-time. Loan/deposit growth moderate. No material M&A, capital action, or strategic shift.
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