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Washington Trust Bancorp Reports Third Quarter 2025 Financial Results

On October 20, 2025, Washington Trust Bancorp, Inc. (Nasdaq: WASH), the parent company of The Washington Trust Company, unveiled its financial report for the third quarter of 2025. The company disclosed a net income of $10.8 million, translating to $0.56 per diluted share. This figure reflects a decrease from the previous quarter's net income of $13.2 million, or $0.68 per diluted share.

Edward O. "Ned" Handy III, Chairman and CEO of Washington Trust, emphasized the company's proactive measures to continue driving growth and managing expenses effectively. He noted that the third quarter saw an expansion in net interest income and margins, alongside robust growth in wealth management and mortgage banking revenues. These achievements coincided with a solid increase in in-market deposits.

Key Financial Highlights

Net Interest Income: Amounted to $38.8 million, marking a rise of 4% compared to the preceding quarter.
Wealth Management Revenues: Increased by 6%, with assets under administration rising by 7% from the end of the previous quarter.
Mortgage Banking Revenues: Experienced a 15% growth from the previous quarter.
Loan Totals: Remained stable at $5.1 billion, showing minimal change since the end of June 2025.
* Deposit Growth: In-market deposits rose to $5.2 billion, reflecting a 4% increase compared to June 2025 and a 9% increase from September 2024.

Despite facing challenges with credit exposures during the quarter, Handy pointed out the bank's confidence in maintaining portfolio quality, expecting continued strong performance in credit metrics. He articulated that customer relationships remain at the core of Washington Trust's operations, contributing to its longevity and community-oriented approach.

Investment Initiatives

The company made notable investments in the quarter, including the recruitment of a new senior executive to enhance its commercial banking division. Moreover, Washington Trust acquired the client accounts of Lighthouse Financial Management, LLC, adding approximately $195 million in managed assets, which further reinforces its commitment to growth.

Handy reaffirmed the importance of relationship banking, stating, "We take pride in delivering personalized, convenient service — the foundation upon which our bank is built. Our community engagement and commitment to customer service are central to achieving long-term value for our shareholders."

Future Outlook

Looking forward, Washington Trust is poised for additional growth, as highlighted by the forthcoming conference call scheduled for October 21, 2025, to discuss the third-quarter results and future business prospects. The bank aims to build on its existing momentum while navigating the economic landscape with prudent fiscal management and a focus on community banking.

In summary, Washington Trust Bancorp's third quarter of 2025 was characterized by strategic investments and a commitment to customer relationships amid a backdrop of financial adjustments. The company's proactive approach positions it for sustained growth in the competitive banking sector, reaffirming its legacy as a trusted community bank since its founding in 1800.