Business Segments (Tables)

6 Months Ended

Jun. 30, 2022

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		Consolidated Total
Three months ended June 30,	2022	2021	2022	2021	2022	2021
Net interest income (expense)	$37,563	$34,768	($48)	($14)	$37,515	$34,754
Provision for credit losses	(3,000)	—	—	—	(3,000)	—
Net interest income (expense) after provision for credit losses	40,563	34,768	(48)	(14)	40,515	34,754
Noninterest income	5,619	10,079	10,233	10,514	15,852	20,593
Noninterest expenses:
Depreciation and amortization expense	707	688	341	376	1,048	1,064
Other noninterest expenses	22,504	24,322	7,525	7,626	30,029	31,948
Total noninterest expenses	23,211	25,010	7,866	8,002	31,077	33,012
Income before income taxes	22,971	19,837	2,319	2,498	25,290	22,335
Income tax expense	4,748	4,250	585	625	5,333	4,875
Net income	$18,223	$15,587	$1,734	$1,873	$19,957	$17,460
Total assets at period end	$5,908,644	$5,778,879	$74,247	$73,101	$5,982,891	$5,851,980
Expenditures for long-lived assets	1,558	883	89	34	1,647	917

(Dollars in thousands)	Commercial Banking		Wealth Management Services		Consolidated Total
Six months ended June 30,	2022	2021	2022	2021	2022	2021
Net interest income (expense)	$72,671	$67,652	($65)	($27)	$72,606	$67,625
Provision for credit losses	(2,900)	(2,000)	—	—	(2,900)	(2,000)
Net interest income (expense) after provision for credit losses	75,571	69,652	(65)	(27)	75,506	69,625
Noninterest income	12,131	25,070	20,880	21,497	33,011	46,567
Noninterest expenses:
Depreciation and amortization expense	1,418	1,365	685	753	2,103	2,118
Other noninterest expenses	45,114	50,887	15,079	14,720	60,193	65,607
Total noninterest expenses	46,532	52,252	15,764	15,473	62,296	67,725
Income before income taxes	41,170	42,470	5,051	5,997	46,221	48,467
Income tax expense	8,545	9,085	1,236	1,451	9,781	10,536
Net income	$32,625	$33,385	$3,815	$4,546	$36,440	$37,931
Total assets at period end	$5,908,644	$5,778,879	$74,247	$73,101	$5,982,891	$5,851,980
Expenditures for long-lived assets	2,288	1,717	193	111	2,481	1,828