Washington Trust reports earnings of $17.7 million in second quarter

Washington Trust reports earnings of $17.7 million in second quarter



WESTERLY — Washington Trust Bancorp Inc., parent company of The Washington Trust Company, has announced second quarter 2018 net income of $17.7 million, or $1.01 per diluted share, compared with net income of $13.2 million, or $0.76 per diluted share, for the same period in 2017.

Edward O. Handy III, chairman and CEO, said the new profit, per-share earnings, and revenue results, released Monday after the trading day, were records for the company. Total revenues (net interest income and noninterest income) amounted to $49.1 million for the quarter.

Washington Trust shares closed Tuesday at $61.80, up $1.40 and close to their 52-week high of $63.25. Market capitalization stood at nearly $1.07 billion. Total loans amounted to $3.5 billion as of  June 30.

Sun staff


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