Statement of Operations and Total Assets by Reportable Segment |
The following table presents 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, | 2018 | 2017 | | 2018 | 2017 | | 2018 | 2017 | | 2018 | 2017 | Net interest income (expense) |
| $27,036 |
|
| $24,795 |
| |
| ($90 | ) |
| ($48 | ) | |
| $6,503 |
|
| $5,312 |
| |
| $33,449 |
|
| $30,059 |
| Provision for loan losses | 350 |
| 1,300 |
| | — |
| — |
| | — |
| — |
| | 350 |
| 1,300 |
| Net interest income (expense) after provision for loan losses | 26,686 |
| 23,495 |
| | (90 | ) | (48 | ) | | 6,503 |
| 5,312 |
| | 33,099 |
| 28,759 |
| Noninterest income | 5,174 |
| 6,711 |
| | 9,454 |
| 10,013 |
| | 587 |
| 559 |
| | 15,215 |
| 17,283 |
| Noninterest expenses: | | | | | | | | | | | | Depreciation and amortization expense | 654 |
| 646 |
| | 371 |
| 411 |
| | 44 |
| 50 |
| | 1,069 |
| 1,107 |
| Other noninterest expenses | 15,599 |
| 15,834 |
| | 6,194 |
| 6,810 |
| | 3,200 |
| 3,003 |
| | 24,993 |
| 25,647 |
| Total noninterest expenses | 16,253 |
| 16,480 |
| | 6,565 |
| 7,221 |
| | 3,244 |
| 3,053 |
| | 26,062 |
| 26,754 |
| Income before income taxes | 15,607 |
| 13,726 |
| | 2,799 |
| 2,744 |
| | 3,846 |
| 2,818 |
| | 22,252 |
| 19,288 |
| Income tax expense | 3,344 |
| 4,463 |
| | 710 |
| 1,092 |
| | 687 |
| 771 |
| | 4,741 |
| 6,326 |
| Net income |
| $12,263 |
|
| $9,263 |
| |
| $2,089 |
|
| $1,652 |
| |
| $3,159 |
|
| $2,047 |
| |
| $17,511 |
|
| $12,962 |
| | | | | | | | | | | | | Total assets at period end |
| $3,694,991 |
|
| $3,486,783 |
| |
| $69,494 |
|
| $63,600 |
| |
| $1,006,187 |
|
| $918,847 |
| |
| $4,770,672 |
|
| $4,469,230 |
| Expenditures for long-lived assets | 612 |
| 890 |
| | 14 |
| 25 |
| | 19 |
| 22 |
| | 645 |
| 937 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in thousands) | Commercial Banking | | Wealth Management Services | | Corporate | | Consolidated Total | Nine months ended September 30, | 2018 | 2017 | | 2018 | 2017 | | 2018 | 2017 | | 2018 | 2017 | Net interest income (expense) |
| $79,656 |
|
| $72,985 |
| |
| ($225 | ) |
| ($120 | ) | |
| $18,981 |
|
| $15,777 |
| |
| $98,412 |
|
| $88,642 |
| Provision for loan losses | 750 |
| 2,400 |
| | — |
| — |
| | — |
| — |
| | 750 |
| 2,400 |
| Net interest income (expense) after provision for loan losses | 78,906 |
| 70,585 |
| | (225 | ) | (120 | ) | | 18,981 |
| 15,777 |
| | 97,662 |
| 86,242 |
| Noninterest income | 15,947 |
| 17,500 |
| | 29,329 |
| 29,432 |
| | 1,675 |
| 1,667 |
| | 46,951 |
| 48,599 |
| Noninterest expenses: | | | | | | | | | | | | Depreciation and amortization expense | 1,928 |
| 1,960 |
| | 1,137 |
| 1,288 |
| | 129 |
| 152 |
| | 3,194 |
| 3,400 |
| Other noninterest expenses | 46,574 |
| 45,764 |
| | 19,986 |
| 20,106 |
| | 9,726 |
| 9,076 |
| | 76,286 |
| 74,946 |
| Total noninterest expenses | 48,502 |
| 47,724 |
| | 21,123 |
| 21,394 |
| | 9,855 |
| 9,228 |
| | 79,480 |
| 78,346 |
| Income before income taxes | 46,351 |
| 40,361 |
| | 7,981 |
| 7,918 |
| | 10,801 |
| 8,216 |
| | 65,133 |
| 56,495 |
| Income tax expense | 9,834 |
| 13,142 |
| | 2,008 |
| 3,172 |
| | 1,895 |
| 2,238 |
| | 13,737 |
| 18,552 |
| Net income |
| $36,517 |
|
| $27,219 |
| |
| $5,973 |
|
| $4,746 |
| |
| $8,906 |
|
| $5,978 |
| |
| $51,396 |
|
| $37,943 |
| | | | | | | | | | | | | Total assets at period end |
| $3,694,991 |
|
| $3,486,783 |
| |
| $69,494 |
|
| $63,600 |
| |
| $1,006,187 |
|
| $918,847 |
| |
| $4,770,672 |
|
| $4,469,230 |
| Expenditures for long-lived assets | 1,864 |
| 1,640 |
| | 327 |
| 368 |
| | 129 |
| 176 |
| | 2,320 |
| 2,184 |
|
|