Washington Trust Bancorp Inc (NASDAQ: WASH)

Washington Trust Bancorp, Inc. is a publicly owned registered bank holding company that has elected to be a financial holding company. It was organized in 1984 under the laws of Rhode Island and owns all of the outstanding common stock of The Washington Trust Company, a Rhode Island chartered bank founded in 1800. The Bancorp offers a full range of financial services including commercial banking, mortgage banking, personal banking, and wealth management and trust services through offices in Rhode Island, Connecticut, and Massachusetts. At the end of 2025 it reported total assets of 6.6 billion dollars, total deposits of 5.3 billion dollars and shareholders equity of 543.6 million dollars.

The company generates revenue primarily from interest income on its loan portfolio, which includes commercial real estate loans, commercial and industrial loans, residential mortgage loans and consumer loans. Additional revenue comes from fees and commissions related to wealth management and trust services, deposit account service charges, and gains on the sale of loans to the secondary market. The Bancorp also earns interest from its investment securities portfolio and from fees associated with treasury management and other ancillary banking services.

The company operates through the following segments: Commercial Banking, Mortgage Banking, Personal Banking, and Wealth Management and Trust Services.

• Commercial Banking provides loans to businesses for purposes such as working capital, equipment financing, and commercial real estate development. This segment includes commercial real estate loans that are secured by non owner occupied property and rely on rental income or sale proceeds for repayment, as well as commercial and industrial loans that are often collateralized by equipment, inventory, accounts receivable or general business assets. The segment also handles participation in loans originated by other banks and offers treasury management services to commercial clients.

• Mortgage Banking focuses on the origination of residential mortgage loans for one to four family properties, including home purchase loans, refinance loans and homeowner construction loans. Loans may be retained in the bank's portfolio or sold to investors such as government sponsored enterprises and other institutional buyers, with the option to retain or release servicing rights. The segment also operates in a broker capacity arranging conventional and reverse mortgages for various investors.

• Personal Banking serves individual consumers by offering deposit accounts such as checking, savings, money market and time deposits, as well as consumer loan products including home equity lines and loans, personal installment loans and other credit facilities. This segment also provides ATM, debit card, online and mobile banking services to support everyday financial needs.

• Wealth Management and Trust Services delivers investment management, holistic financial planning, personal trust and estate services including trustee, personal representative and custodian roles, settlement of decedents estates and institutional trust services such as custody and fiduciary support. These services are provided through the bank and its registered investment adviser subsidiary and generated 7.8 billion dollars of assets under administration at the end of 2025.

Washington Trust Bancorp holds a solid position as a community focused bank in southern New England, competing with larger national banks, regional banks, credit unions and non bank lenders. Its competitive advantages stem from a long operating history dating to 1800, a strong local presence, deep relationships with customers and a reputation for personalized service. The company also benefits from well capitalized balance sheet, prudent risk management and a diversified revenue mix that includes both interest income and fee based wealth management revenues.

The company serves a diverse customer base that includes individual consumers, small and medium sized businesses, commercial enterprises, non profit organizations and municipal entities. Its deposit and loan products are tailored to meet the financing needs of these groups across the Rhode Island, Connecticut and Massachusetts markets.