Business Segments (Tables)

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

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,	2020	2019	2020	2019	2020	2019	2020	2019
Net interest income (expense)	$33,103	$28,515	($24)	($114)	($1,425)	$4,577	$31,654	$32,978
Provision for credit losses	1,325	400	—	—	—	—	1,325	400
Net interest income (expense) after provision for credit losses	31,778	28,115	(24)	(114)	(1,425)	4,577	30,329	32,578
Noninterest income	15,940	8,607	8,954	9,153	574	582	25,468	18,342
Noninterest expenses:
Depreciation and amortization expense	601	642	350	360	38	40	989	1,042
Other noninterest expenses	20,273	16,255	7,178	6,217	3,904	3,356	31,355	25,828
Total noninterest expenses	20,874	16,897	7,528	6,577	3,942	3,396	32,344	26,870
Income (loss) before income taxes	26,844	19,825	1,402	2,462	(4,793)	1,763	23,453	24,050
Income tax expense (benefit)	5,828	4,347	403	646	(1,100)	243	5,131	5,236
Net income (loss)	$21,016	$15,478	$999	$1,816	($3,693)	$1,520	$18,322	$18,814
Total assets at period end	$4,588,419	$3,994,458	$74,942	$78,812	$1,186,431	$1,125,608	$5,849,792	$5,198,878
Expenditures for long-lived assets	360	662	20	87	26	48	406	797

(Dollars in thousands)	Commercial Banking		Wealth Management Services		Corporate		Consolidated Total
Nine months ended September 30,	2020	2019	2020	2019	2020	2019	2020	2019
Net interest income (expense)	$94,692	$83,684	($117)	($361)	$626	$18,097	$95,201	$101,420
Provision for credit losses	10,561	1,575	—	—	—	—	10,561	1,575
Net interest income (expense) after provision for loan losses	84,131	82,109	(117)	(361)	626	18,097	84,640	99,845
Noninterest income	43,515	20,753	26,248	27,961	1,952	1,748	71,715	50,462
Noninterest expenses:
Depreciation and amortization expense	1,832	1,985	1,058	1,089	116	118	3,006	3,192
Other noninterest expenses	56,571	48,676	20,408	19,631	11,290	10,486	88,269	78,793
Total noninterest expenses	58,403	50,661	21,466	20,720	11,406	10,604	91,275	81,985
Income (loss) before income taxes	69,243	52,201	4,665	6,880	(8,828)	9,241	65,080	68,322
Income tax expense (benefit)	14,769	11,371	1,216	1,845	(2,168)	1,524	13,817	14,740
Net income (loss)	$54,474	$40,830	$3,449	$5,035	($6,660)	$7,717	$51,263	$53,582
Total assets at period end	$4,588,419	$3,994,458	$74,942	$78,812	$1,186,431	$1,125,608	$5,849,792	$5,198,878
Expenditures for long-lived assets	1,147	2,259	86	379	98	130	1,331	2,768