standing Washington Trust Bank

Washington Trust in downtown Westerly. Sun file photo

WESTERLY — Washington Trust Bancorp Inc., parent company of The Washington Trust Company, has announced third quarter net income of $18.8 million, or $1.08 per diluted share, compared with $17.5 million, or $1.01 per diluted share, in the third quarter of 2018 — a gain of 7.4% year-over-year.

The company reported that total loans, amounting to $3.8 billion, were up by $222 million, or 6%, from the balance on Sept. 30, 2018, and were $48 million more than the preceding quarter. Total deposits amounted to $3.6 billion, up $172 million or 5% from the balance at the end of the third quarter last year. The quarterly gain in deposits was $82 million.

The company also reported that its mortgage banking revenues reached an all-time quarterly high of $4.8 million, and that the bank continued to rank third in Rhode Island with an 11% market share, according to FDIC statistics.

Sun staff

Recommended for you

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.