WASHINGTON TRUST BANCORP INC
For the period ended Dec 31, 2023. Filed Feb 26, 2024.
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FY2023 · Filed Feb 26, 2024
WASH$39.30-0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets at December 31, 2023 and 2022
| Washington Trust Bancorp, Inc. and Subsidiaries | |
|---|---|
| Consolidated Balance Sheets | (Dollars in thousands, except par value) |
| December 31, | 2023 | 2022 |
|---|---|---|
| Assets: | ||
| Cash and due from banks | $86,824 | $115,492 |
| Short-term investments | 3,360 | 2,930 |
| Mortgage loans held for sale, at fair value | 20,077 | 8,987 |
| Available for sale debt securities, at fair value (amortized cost $1,152,629; net of allowance for credit losses on securities of $0 at December 31, 2023; and amortized cost of $1,166,340; net of allowance for credit losses on securities of $0 at December 31, 2022) | 1,000,380 | 993,928 |
| Federal Home Loan Bank stock, at cost | 51,893 | 43,463 |
| Loans: | ||
| Total loans | 5,647,706 | 5,110,139 |
| Less: allowance for credit losses on loans | 41,057 | 38,027 |
| Net loans | 5,606,649 | 5,072,112 |
| Premises and equipment, net | 32,291 | 31,550 |
| Operating lease right-of-use assets | 29,364 | 27,156 |
| Investment in bank-owned life insurance | 103,736 | 102,182 |
| Goodwill | 63,909 | 63,909 |
| Identifiable intangible assets, net | 3,711 | 4,554 |
| Other assets | 200,653 | 193,788 |
| Total assets | $7,202,847 | $6,660,051 |
| Liabilities: | ||
| Deposits: | ||
| Noninterest-bearing deposits | $693,746 | $858,953 |
| Interest-bearing deposits | 4,654,414 | 4,160,009 |
| Total deposits | 5,348,160 | 5,018,962 |
| Federal Home Loan Bank advances | 1,190,000 | 980,000 |
| Junior subordinated debentures | 22,681 | 22,681 |
| Operating lease liabilities | 32,027 | 29,558 |
| Other liabilities | 137,293 | 155,181 |
| Total liabilities | 6,730,161 | 6,206,382 |
| Commitments and contingencies (Note 21) | ||
| Shareholders’ Equity: | ||
| Common stock of $.0625 par value; authorized 60,000,000 shares; 17,363,457 shares issued and 17,030,987 shares outstanding at December 31, 2023 and 17,363,457 shares issued and 17,182,753 shares outstanding at December 31, 2022 | 1,085 | 1,085 |
| Paid-in capital | 126,150 | 127,056 |
| Retained earnings | 501,917 | 492,043 |
| Accumulated other comprehensive loss | (141,153) | (157,800) |
| Treasury stock, at cost; 332,470 shares at December 31, 2023 and 180,704 shares at December 31, 2022 | (15,313) | (8,715) |
| Total shareholders’ equity | 472,686 | 453,669 |
| Total liabilities and shareholders’ equity | $7,202,847 | $6,660,051 |
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