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Business Segments (Tables)
12 Months Ended
Dec. 31, 2018
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)
 
 
 
 
Year ended December 31, 2018
Commercial
Banking
Wealth
Management
Services
Corporate
Consolidated
Total
Net interest income (expense)

$106,668


($334
)

$25,956


$132,290

Provision for loan losses
1,550



1,550

Net interest income (expense) after provision for loan losses
105,118

(334
)
25,956

130,740

Noninterest income
21,509

38,341

2,264

62,114

Noninterest expenses:
 
 
 
 
Depreciation and amortization expense
2,589

1,501

171

4,261

Other noninterest expenses
62,673

26,222

13,006

101,901

Total noninterest expenses
65,262

27,723

13,177

106,162

Income before income taxes
61,365

10,284

15,043

86,692

Income tax expense
13,149

2,577

2,534

18,260

Net income

$48,216


$7,707


$12,509


$68,432

 
 
 
 
 
Total assets at period end

$3,804,021


$71,254


$1,135,491


$5,010,766

Expenditures for long-lived assets
3,415

407

152

3,974


(Dollars in thousands)
 
 
 
 
Year ended December 31, 2017
Commercial
Banking
Wealth
Management
Services
Corporate
Consolidated
Total
Net interest income (expense)

$98,736


($167
)

$20,962


$119,531

Provision for loan losses
2,600



2,600

Net interest income (expense) after provision for loan losses
96,136

(167
)
20,962

116,931

Noninterest income
23,244

39,346

2,219

64,809

Noninterest expenses:
 
 
 
 
Depreciation and amortization expense
2,604

1,689

196

4,489

Other noninterest expenses
60,828

26,718

12,065

99,611

Total noninterest expenses
63,432

28,407

12,261

104,100

Income before income taxes
55,948

10,772

10,920

77,640

Income tax expense
23,876

3,795

4,044

31,715

Net income

$32,072


$6,977


$6,876


$45,925

 
 
 
 
 
Total assets at period end

$3,491,845


$66,083


$971,922


$4,529,850

Expenditures for long-lived assets
2,224

360

195

2,779



(Dollars in thousands)
 
 
 
 
Year ended December 31, 2016
Commercial
Banking
Wealth
Management
Services
Corporate
Consolidated
Total
Net interest income

$91,221


($66
)

$19,323


$110,478

Provision for loan losses
5,650



5,650

Net interest income (expense) after provision for loan losses
85,571

(66
)
19,323

104,828

Noninterest income
24,783

37,569

2,777

65,129

Noninterest expenses:
 
 
 
 
Depreciation and amortization expense
2,771

1,940

224

4,935

Other noninterest expenses
58,452

25,239

12,477

96,168

Total noninterest expenses
61,223

27,179

12,701

101,103

Income before income taxes
49,131

10,324

9,399

68,854

Income tax expense
16,790

3,692

1,891

22,373

Net income

$32,341


$6,632


$7,508


$46,481

 
 
 
 
 
Total assets at period end

$3,354,633


$64,625


$961,857


$4,381,115

Expenditures for long-lived assets
2,267

464

381

3,112