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Washington Trust Company, of Westerly, The

Westerly, RI · Cert 23623 · Washington Trust Bcorp Inc.

State charter, non-member · FDIC · 29 branches

Q2 2026

$6.6BAssets
$5.1BLoans
$5.4BDeposits
$568.7MEquity
Loan mix
97%RE $4.7B3%C&I $0.1B0%Consumer $0.0BQ2 2025Q2 2026
Deposit mix
88%Interest-bearing $4.7B12%Noninterest $0.6BQ2 2025Q2 2026

NIM

4.98%Q2 ’244.92%Q2 ’254.74%Q2 ’26+27%+15%

Non-interest income vs. expense

1.84%Q2 ’242.32%Q2 ’252.32%Q2 ’26+24%+6%

Market Position · Providence-Warwick, RI-MA · 2026 SOD (annual) · 8.5% share · #3 of 22 inst. · $5.3B of $61.9B

58.3% Washington
4.1% Providence
10.6% Kent
1.5% Southeastern Connecticut

Executive Summary

  • Earnings: ROA of 0.90%, up 12 bps year over year; NIM at 2.56%.
  • Asset quality: problem loans at 0.78% of loans (+27 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 8.92%, up 33 bps from a year ago.
  • Funding: loans stand at 95.76% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

0.90%+12 bps YoY

Net Interest Margin (YTD, annualized)

2.56%+34 bps YoY

Efficiency Ratio (YTD, annualized)

63.62%-484 bps YoY

Tier 1 Leverage Ratio

8.92%+33 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.77%0.74%0.80%0.80%0.90%+12 bps
Return on Equity9.82%9.29%9.93%9.31%10.44%+62 bps
Net Interest Margin2.22%2.23%2.32%2.48%2.56%+34 bps
Efficiency Ratio68.46%66.44%65.63%64.28%63.62%-484 bps
Non-Interest Burden1.15%1.10%1.13%1.22%1.22%+7 bps
Growth
Asset Growth (YoY)-6.18%-5.95%-4.49%-1.92%-2.87%+330 bps
Loan Growth (YoY)-8.48%-6.90%-4.99%-1.40%-0.76%+772 bps
Deposit Growth (YoY)1.36%1.02%3.03%2.51%6.26%+489 bps
Asset Quality
Nonperforming Loans / Loans0.50%0.27%0.25%0.80%0.78%+27 bps
Net Charge-Offs / Loans0.11%0.37%0.28%0.00%0.00%-11 bps
Allowance / Loans0.79%0.71%0.72%0.81%0.83%+4 bps
Allowance Coverage of NPLs1.6x2.6x2.9x1.0x1.1x-0.5x
Capital
Tier 1 Leverage Ratio8.58%8.31%8.53%8.69%8.92%+33 bps
Total Risk-Based Capital12.96%12.73%12.79%13.22%13.15%+19 bps
Equity / Assets8.07%8.13%8.42%8.69%8.68%+61 bps
Liquidity & Funding
Loans / Deposits102.53%98.55%97.99%97.61%95.76%-677 bps
Liquid Assets / Assets1.77%2.14%0.91%0.92%1.34%-43 bps
CRE / Total Capitaln/a433%435%416%n/an/a