WASHINGTON TRUST BANCORP INC
For the period ended Dec 31, 2024. Filed Feb 25, 2025.
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FY2024 · Filed Feb 25, 2025
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, 2024 and 2023
| Washington Trust Bancorp, Inc. and Subsidiaries | |
|---|---|
| Consolidated Balance Sheets | (Dollars in thousands, except par value) |
| December 31, | 2024 | 2023 |
|---|---|---|
| Assets: | ||
| Cash and due from banks | $21,534 | $54,970 |
| Interest-earning deposits with correspondent banks | 88,368 | 31,854 |
| Short-term investments | 3,987 | 3,360 |
| Mortgage loans held for sale, at fair value | 21,708 | 20,077 |
| Mortgage loans held for sale, at lower of cost or market | 281,706 | — |
| Premises and equipment held for sale, at lower of cost or market | 4,788 | — |
| Available for sale debt securities, at fair value (amortized cost $1,049,557; net of allowance for credit losses on securities of $0 at December 31, 2024; and amortized cost of $1,152,629; net of allowance for credit losses on securities of $0 at December 31, 2023) | 916,305 | 1,000,380 |
| Federal Home Loan Bank stock, at cost | 49,817 | 51,893 |
| Loans: | ||
| Total loans | 5,137,838 | 5,647,706 |
| Less: allowance for credit losses on loans | 41,960 | 41,057 |
| Net loans | 5,095,878 | 5,606,649 |
| Premises and equipment, net | 26,873 | 32,291 |
| Operating lease right-of-use assets | 26,943 | 29,364 |
| Investment in bank-owned life insurance | 106,777 | 103,736 |
| Goodwill | 63,909 | 63,909 |
| Identifiable intangible assets, net | 2,885 | 3,711 |
| Other assets | 219,169 | 200,653 |
| Total assets | $6,930,647 | $7,202,847 |
| Liabilities: | ||
| Deposits: | ||
| Noninterest-bearing deposits | $661,776 | $693,746 |
| Interest-bearing deposits | 4,454,024 | 4,654,414 |
| Total deposits | 5,115,800 | 5,348,160 |
| Federal Home Loan Bank advances | 1,125,000 | 1,190,000 |
| Junior subordinated debentures | 22,681 | 22,681 |
| Operating lease liabilities | 29,578 | 32,027 |
| Other liabilities | 137,860 | 137,293 |
| Total liabilities | 6,430,919 | 6,730,161 |
| Commitments and contingencies (Note 21) | ||
| Shareholders’ Equity: | ||
| Common stock of $.0625 par value; authorized 60,000,000 shares; 19,561,985 shares issued and 19,273,583 shares outstanding at December 31, 2024 and 17,363,457 shares issued and 17,030,987 shares outstanding at December 31, 2023 | 1,223 | 1,085 |
| Paid-in capital | 196,947 | 126,150 |
| Retained earnings | 434,014 | 501,917 |
| Accumulated other comprehensive loss | (119,171) | (141,153) |
| Treasury stock, at cost; 288,402 shares at December 31, 2024 and 332,470 shares at December 31, 2023 | (13,285) | (15,313) |
| Total shareholders’ equity | 499,728 | 472,686 |
| Total liabilities and shareholders’ equity | $6,930,647 | $7,202,847 |
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