EX-99.HTM 2 exhibit99.htm FORM 8-K FOR PRESS RELEASE SUPPLEMENTARY INFORMATION DATE JULY 22, 2008 exhibit99.htm
 
Exhibit 99.1
 
Washington Trust Bancorp, Inc.
 
Investment Portfolio – Supplemental Information
 
   
June 30, 2008
 
   
Credit
   
Amortized
   
Unrealized
   
Estimated
 
(Dollars in thousands)
 
Rating
   
Cost
   
Gains
   
Losses
   
Fair Value
 
Trust Preferred Securities
                             
Collateralized Debt Obligations
   
A
    $ 7,479     $     $ (1,744 )   $ 5,735  
Individual Name Issuers (1):
   
AA
      15,411             (3,128 )     12,283  
     
A
      13,188             (2,441 )     10,747  
     
BBB
      1,907             (314 )     1,593  
Total Trust Preferred Securities
          $ 37,985     $     $ (7,627 )   $ 30,358  
                                         
Corporate Bonds
   
BBB
    $ 1,746     $     $ (13 )   $ 1,733  
 
  (1) -
We own various series of trust preferred securities issued by several corporate financial institutions.  The following amounts represent the percentages greater than 10% of the total estimated fair value of trust preferred securities holdings for individual name issuers, including, where applicable, the impact of mergers and acquisitions of issuers subsequent to original purchase:  25%, 15%, 13% and 11%.
 
   
June 30, 2008
 
   
Amortized
   
Unrealized
   
Estimated
 
(Dollars in thousands)
 
Cost
   
Gains
   
Losses
   
Fair Value
 
Common and Preferred Stocks
                       
Common Stock
  $ 1,458     $ 337     $ (270 )   $ 1,525  
Preferred:
                               
FNMA Preferred Stock
    713             (11 )     702  
FHLMC Preferred Stock
    358             (23 )     335  
Other Preferred (financials)
    4,064             (365 )     3,699  
Other Preferred (utilities)
    1,000             (113 )     887  
Total Preferred
    6,135             (512 )     5,623  
Total Common and Preferred Stocks
  $ 7,593     $ 337     $ (782 )   $ 7,148  
 
 
 
The Corporation recorded impairment charges to earnings for equity securities deemed to be other-than-temporarily impaired in the amounts shown in the following table:
 
(Dollars in thousands)
           
   
Three
   
Six
 
Periods ended June 30, 2008
 
Months
   
Months
 
FNMA and FHLMC Preferred Stock
  $ 430     $ 430  
Other Preferred (financials)
    719       1,577  
Total
  $ 1,149     $ 2,007