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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 $0.0BQ3 2024Q2 2026
Deposit mix
88%Interest-bearing $4.7B12%Noninterest $0.6BQ3 2024Q2 2026

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 1.01%, up 19 bps year over year; NIM at 2.60%.
  • 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.

Return on Assets (quarter, annualized)

1.01%+19 bps YoY

Net Interest Margin (quarter, annualized)

2.60%+35 bps YoY

Efficiency Ratio (quarter, annualized)

62.99%-338 bps YoY

Tier 1 Leverage Ratio

8.92%+33 bps YoY

NIM

4.99%Q2 ’244.88%Q2 ’254.75%Q2 ’26+29%+16%

Non-interest income vs. expense

1.82%Q2 ’242.16%Q2 ’252.34%Q2 ’26+24%+5%

Discrete quarter, annualized.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.64%-3.43%0.74%0.81%0.66%0.98%0.80%1.01%+19 bps
Return on Equity9.06%-46.65%9.55%10.04%8.21%11.82%9.31%11.57%+154 bps
Net Interest Margin1.78%1.88%2.16%2.24%2.31%2.46%2.48%2.60%+35 bps
Efficiency Ratio69.85%102.40%70.38%66.37%62.37%63.31%64.28%62.99%-338 bps
Non-Interest Burden0.98%4.53%1.13%1.15%1.05%1.15%1.22%1.21%+6 bps
Growth
Asset Growth (YoY)-0.53%-3.71%-9.16%-6.18%-5.95%-4.49%-1.92%-2.87%+330 bps
Loan Growth (YoY)-1.53%-3.99%-10.37%-8.48%-6.90%-4.99%-1.40%-0.76%+772 bps
Deposit Growth (YoY)-4.68%-4.33%-5.77%1.36%1.02%3.03%2.51%6.26%+489 bps
Asset Quality
Nonperforming Loans / Loans0.56%0.43%0.42%0.50%0.27%0.25%0.80%0.78%+27 bps
Net Charge-Offs / Loans0.00%0.14%0.18%0.05%0.89%-0.01%0.00%0.00%-5 bps
Allowance / Loans0.77%0.77%0.80%0.79%0.71%0.72%0.81%0.83%+4 bps
Allowance Coverage of NPLs1.4x1.8x1.9x1.6x2.6x2.9x1.0x1.1x-0.5x
Capital
Tier 1 Leverage Ratio7.77%8.06%8.38%8.58%8.31%8.53%8.69%8.92%+33 bps
Total Risk-Based Capital12.10%12.37%13.01%12.96%12.73%12.79%13.22%13.15%+19 bps
Equity / Assets7.25%7.45%8.17%8.07%8.13%8.42%8.69%8.68%+61 bps
Liquidity & Funding
Loans / Deposits106.94%106.25%101.47%102.53%98.55%97.99%97.61%95.76%-677 bps
Liquid Assets / Assets2.43%1.27%1.26%1.77%2.14%0.91%0.92%1.34%-43 bps
CRE / Total Capitaln/an/an/an/a433%435%416%n/an/a