Business Segments (Tables)

6 Months Ended

Jun. 30, 2021

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 June 30,	2021	2020	2021	2020	2021	2020	2021	2020
Net interest income (expense)	$35,326	$32,580	($24)	($26)	($548)	($1,609)	$34,754	$30,945
Provision for credit losses	—	2,200	—	—	—	—	—	2,200
Net interest income (expense) after provision for credit losses	35,326	30,380	(24)	(26)	(548)	(1,609)	34,754	28,745
Noninterest income	9,555	16,910	10,428	8,605	610	805	20,593	26,320
Noninterest expenses:
Depreciation and amortization expense	665	611	352	354	47	39	1,064	1,004
Other noninterest expenses	19,984	17,615	7,018	6,225	4,946	3,634	31,948	27,474
Total noninterest expenses	20,649	18,226	7,370	6,579	4,993	3,673	33,012	28,478
Income (loss) before income taxes	24,232	29,064	3,034	2,000	(4,931)	(4,477)	22,335	26,587
Income tax expense (benefit)	5,289	6,177	748	457	(1,162)	(1,087)	4,875	5,547
Net income (loss)	$18,943	$22,887	$2,286	$1,543	($3,769)	($3,390)	$17,460	$21,040
Total assets at period end	$4,520,417	$4,579,720	$75,232	$74,803	$1,256,331	$1,222,437	$5,851,980	$5,876,960
Expenditures for long-lived assets	882	261	16	13	19	23	917	297

(Dollars in thousands)	Commercial Banking		Wealth Management Services		Corporate		Consolidated Total
Six months ended June 30,	2021	2020	2021	2020	2021	2020	2021	2020
Net interest income (expense)	$69,847	$61,590	($47)	($93)	($2,175)	$2,050	$67,625	$63,547
Provision for credit losses	(2,000)	9,236	—	—	—	—	(2,000)	9,236
Net interest income (expense) after provision for loan losses	71,847	52,354	(47)	(93)	(2,175)	2,050	69,625	54,311
Noninterest income	24,070	27,575	21,323	17,294	1,174	1,378	46,567	46,247
Noninterest expenses:
Depreciation and amortization expense	1,322	1,231	703	708	93	78	2,118	2,017
Other noninterest expenses	39,985	36,298	13,404	13,230	12,218	7,386	65,607	56,914
Total noninterest expenses	41,307	37,529	14,107	13,938	12,311	7,464	67,725	58,931
Income (loss) before income taxes	54,610	42,400	7,169	3,263	(13,312)	(4,036)	48,467	41,627
Income tax expense (benefit)	11,881	8,941	1,702	813	(3,047)	(1,068)	10,536	8,686
Net income (loss)	$42,729	$33,459	$5,467	$2,450	($10,265)	($2,968)	$37,931	$32,941
Total assets at period end	$4,520,417	$4,579,720	$75,232	$74,803	$1,256,331	$1,222,437	$5,851,980	$5,876,960
Expenditures for long-lived assets	1,717	787	74	66	37	72	1,828	925