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Business Segments (Tables)
3 Months Ended
Mar. 31, 2017
Segment Reporting [Abstract]  
Statement of Operations and Total Assets by Reportable Segment
The following tables present the statement of operations and total assets for Washington Trust’s reportable segments:
 
 
 
 
 
 
 
 
 
 
 
 
(Dollars in thousands)
Commercial Banking
 
Wealth Management Services
 
Corporate
 
Consolidated Total
Three months ended March 31,
2017

2016

 
2017

2016

 
2017

2016

 
2017

2016

Net interest income (expense)

$23,557


$22,607

 

($32
)

($18
)
 

$5,154


$5,146

 

$28,679


$27,735

Provision for loan losses
400

500

 


 


 
400

500

Net interest income (expense) after provision for loan losses
23,157

22,107

 
(32
)
(18
)
 
5,154

5,146

 
28,279

27,235

Noninterest income
4,442

4,940

 
9,477

9,174

 
591

520

 
14,510

14,634

Noninterest expenses:
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization expense
663

687

 
463

469

 
52

55

 
1,178

1,211

Other noninterest expenses (1)
14,607

13,991

 
6,448

6,799

 
3,053

3,449

 
24,108

24,239

Total noninterest expenses
15,270

14,678

 
6,911

7,268

 
3,105

3,504

 
25,286

25,450

Income before income taxes
12,329

12,369

 
2,534

1,888

 
2,640

2,162

 
17,503

16,419

Income tax expense
4,029

4,255

 
978

733

 
714

496

 
5,721

5,484

Net income

$8,300


$8,114

 

$1,556


$1,155

 

$1,926


$1,666

 

$11,782


$10,935

 
 
 
 
 
 
 
 
 
 
 
 
Total assets at period end

$3,344,773


$3,178,248

 

$64,984


$64,496

 

$979,006


$595,466

 

$4,388,763


$3,838,210

Expenditures for long-lived assets
373

1,019

 
302

84

 
58

74

 
733

1,177

(1)
Other noninterest expenses for the Wealth Management Services segment includes a $310 thousand benefit resulting from the reduction of a contingent consideration liability in the three months ended March 31, 2017.