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, 2020 | Commercial Banking | Wealth Management Services | Corporate | Consolidated Total | Net interest income (expense) | $128,600 | | ($141) | | ($1,015) | | $127,444 | | Provision for credit losses | 12,342 | | — | | — | | 12,342 | | Net interest income (expense) after provision for credit losses | 116,258 | | (141) | | (1,015) | | 115,102 | | Noninterest income | 61,463 | | 35,454 | | 2,525 | | 99,442 | | Noninterest expenses: | | | | | Depreciation and amortization expense | 2,512 | | 1,412 | | 166 | | 4,090 | | Other noninterest expenses | 77,157 | | 27,367 | | 16,770 | | 121,294 | | Total noninterest expenses | 79,669 | | 28,779 | | 16,936 | | 125,384 | | Income (loss) before income taxes | 98,052 | | 6,534 | | (15,426) | | 89,160 | | Income tax expense (benefit) | 21,216 | | 1,746 | | (3,631) | | 19,331 | | Net income (loss) | $76,836 | | $4,788 | | ($11,795) | | $69,829 | | | | | | | Total assets at period end | $4,501,875 | | $74,958 | | $1,136,336 | | $5,713,169 | | Expenditures for long-lived assets | 3,097 | | 158 | | 151 | | 3,406 | |
| | | | | | | | | | | | | | | (Dollars in thousands) | | | | | Year ended December 31, 2019 | Commercial Banking | Wealth Management Services | Corporate | Consolidated Total | Net interest income (expense) | $112,414 | | ($438) | | $21,438 | | $133,414 | | Provision for loan losses | 1,575 | | — | | — | | 1,575 | | Net interest income (expense) after provision for loan losses | 110,839 | | (438) | | 21,438 | | 131,839 | | Noninterest income | 27,857 | | 36,856 | | 2,367 | | 67,080 | | Noninterest expenses: | | | | | Depreciation and amortization expense | 2,630 | | 1,445 | | 159 | | 4,234 | | Other noninterest expenses | 66,517 | | 26,057 | | 13,932 | | 106,506 | | Total noninterest expenses | 69,147 | | 27,502 | | 14,091 | | 110,740 | | Income before income taxes | 69,549 | | 8,916 | | 9,714 | | 88,179 | | Income tax expense | 15,189 | | 2,308 | | 1,564 | | 19,061 | | Net income | $54,360 | | $6,608 | | $8,150 | | $69,118 | | | | | | | Total assets at period end | $4,070,594 | | $74,990 | | $1,147,075 | | $5,292,659 | | Expenditures for long-lived assets | 2,521 | | 445 | | 166 | | 3,132 | |
| | | | | | | | | | | | | | | (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 | |
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