XML 52 R37.htm IDEA: XBRL DOCUMENT v3.8.0.1
Business Segments (Tables)
9 Months Ended
Sep. 30, 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 September 30,
2017

2016

 
2017

2016

 
2017

2016

 
2017

2016

Net interest income (expense)

$24,795


$22,860

 

($48
)

($11
)
 

$5,312


$4,530

 

$30,059


$27,379

Provision for loan losses
1,300

1,800

 


 


 
1,300

1,800

Net interest income (expense) after provision for loan losses
23,495

21,060

 
(48
)
(11
)
 
5,312

4,530

 
28,759

25,579

Noninterest income
6,711

7,101

 
10,013

9,623

 
559

537

 
17,283

17,261

Noninterest expenses:
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization expense
646

709

 
411

501

 
50

58

 
1,107

1,268

Other noninterest expenses (1)
15,834

14,759

 
6,810

5,584

 
3,003

3,039

 
25,647

23,382

Total noninterest expenses
16,480

15,468

 
7,221

6,085

 
3,053

3,097

 
26,754

24,650

Income before income taxes
13,726

12,693

 
2,744

3,527

 
2,818

1,970

 
19,288

18,190

Income tax expense
4,463

4,392

 
1,092

1,261

 
771

210

 
6,326

5,863

Net income

$9,263


$8,301

 

$1,652


$2,266

 

$2,047


$1,760

 

$12,962


$12,327

 
 
 
 
 
 
 
 
 
 
 
 
Total assets at period end

$3,486,783


$3,617,967

 

$63,600


$53,236

 

$918,847


$532,831

 

$4,469,230


$4,204,034

Expenditures for long-lived assets
890

424

 
25

280

 
22

58

 
937

762

(1)
Other noninterest expenses for the Wealth Management Services segment includes a $939 thousand benefit resulting from the reduction of a contingent consideration liability in the three months ended September 30, 2016.

 
 
 
 
 
 
 
 
 
 
 
 
(Dollars in thousands)
Commercial Banking
 
Wealth Management Services
 
Corporate
 
Consolidated Total
Nine months ended September 30,
2017

2016

 
2017

2016

 
2017

2016

 
2017

2016

Net interest income (expense)

$72,985


$67,414

 

($120
)

($46
)
 

$15,777


$14,522

 

$88,642


$81,890

Provision for loan losses
2,400

2,750

 


 


 
2,400

2,750

Net interest income (expense) after provision for loan losses
70,585

64,664

 
(120
)
(46
)
 
15,777

14,522

 
86,242

79,140

Noninterest income
17,500

17,331

 
29,432

28,278

 
1,667

2,200

 
48,599

47,809

Noninterest expenses:
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization expense
1,960

2,093

 
1,288

1,440

 
152

170

 
3,400

3,703

Other noninterest expenses (1)
45,764

43,788

 
20,106

19,084

 
9,076

9,555

 
74,946

72,427

Total noninterest expenses
47,724

45,881

 
21,394

20,524

 
9,228

9,725

 
78,346

76,130

Income before income taxes
40,361

36,114

 
7,918

7,708

 
8,216

6,997

 
56,495

50,819

Income tax expense
13,142

12,336

 
3,172

2,788

 
2,238

1,376

 
18,552

16,500

Net income

$27,219


$23,778

 

$4,746


$4,920

 

$5,978


$5,621

 

$37,943


$34,319

 
 
 
 
 
 
 
 
 
 
 
 
Total assets at period end

$3,486,783


$3,617,967

 

$63,600


$53,236

 

$918,847


$532,831

 

$4,469,230


$4,204,034

Expenditures for long-lived assets
1,640

1,779

 
368

468

 
176

361

 
2,184

2,608

(1)
For the nine months ended September 30, 2017, other noninterest expenses for the Wealth Management Services segment includes a $310 thousand benefit resulting from the reduction of a contingent consideration liability and a $150 thousand goodwill impairment charge. For the nine months ended September 30, 2016, other noninterest expenses for the Wealth Management Services segment includes a benefit of $898 thousand resulting from the reduction of a contingent consideration liability.