Business Segments (Tables)

9 Months Ended

Sep. 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 September 30,	2022	2021	2022	2021	2022	2021
Net interest income (expense)	$42,038	$36,085	$4	($15)	$42,042	$36,070
Provision for credit losses	800	—	—	—	800	—
Net interest income (expense) after provision for credit losses	41,238	36,085	4	(15)	41,242	36,070
Noninterest income	6,043	9,962	9,760	10,558	15,803	20,520
Noninterest expenses:
Depreciation and amortization expense	751	740	348	365	1,099	1,105
Other noninterest expenses	23,995	23,538	7,973	7,877	31,968	31,415
Total noninterest expenses	24,746	24,278	8,321	8,242	33,067	32,520
Income before income taxes	22,535	21,769	1,443	2,301	23,978	24,070
Income tax expense	4,878	4,725	432	594	5,310	5,319
Net income	$17,657	$17,044	$1,011	$1,707	$18,668	$18,751
Total assets at period end	$6,332,986	$5,929,230	$75,065	$73,413	$6,408,051	$6,002,643
Expenditures for long-lived assets	1,206	310	137	28	1,343	338

(Dollars in thousands)	Commercial Banking		Wealth Management Services		Consolidated Total
Nine months ended September 30,	2022	2021	2022	2021	2022	2021
Net interest income (expense)	$114,709	$103,737	($61)	($42)	$114,648	$103,695
Provision for credit losses	(2,100)	(2,000)	—	—	(2,100)	(2,000)
Net interest income (expense) after provision for credit losses	116,809	105,737	(61)	(42)	116,748	105,695
Noninterest income	18,174	35,032	30,640	32,055	48,814	67,087
Noninterest expenses:
Depreciation and amortization expense	2,168	2,105	1,034	1,118	3,202	3,223
Other noninterest expenses	69,110	74,425	23,051	22,597	92,161	97,022
Total noninterest expenses	71,278	76,530	24,085	23,715	95,363	100,245
Income before income taxes	63,705	64,239	6,494	8,298	70,199	72,537
Income tax expense	13,423	13,810	1,668	2,045	15,091	15,855
Net income	$50,282	$50,429	$4,826	$6,253	$55,108	$56,682
Total assets at period end	$6,332,986	$5,929,230	$75,065	$73,413	$6,408,051	$6,002,643
Expenditures for long-lived assets	3,494	2,027	330	139	3,824	2,166