Washington Trust Bancorp (WASH) Investor presentation summary

Investment profile and market position

• Holds a top-tier deposit market share and operates a diversified banking and scaled wealth platform.

• Net interest margin (NIM) increased by 7 basis points versus Q4 2025, with further expansion expected in 2026.

• Institutional banking expansion and C&I-led growth provide loan growth upside.

• Large contributors to revenue include mortgage banking and wealth management.

• Enhanced capital flexibility supports a high and sustainable dividend yield.

Financial highlights and performance

• Total assets reached $6.5 billion as of March 31, 2026, with $5.0 billion in loans and $5.2 billion in deposits.

• Net interest income for Q1 2026 was $40.5 million, with net income of $12.6 million.

• Adjusted return on average assets was 0.78% and adjusted return on average equity was 9.23% for Q1 2026.

• Fee income represents 30% of total revenue, with a 6.69% dividend yield.

Loan portfolio and asset quality

• 62% of loans are variable rate; CRE and residential loans make up 42% and 40% of the portfolio, respectively.

• Cumulative loan losses from 2006–2025 were 193 bps, well below peer averages.

• Commercial real estate portfolio is diversified, with multi-family, retail, and industrial segments leading.

• Two CRE properties were placed on non-accrual in March 2026, but reserves are established and most criticized loans are resolved without loss.

• Residential mortgage and home equity portfolios show low delinquencies and high average FICO scores.