WASHINGTON TRUST BANCORP INC
For the period ended Mar 31, 2025. Filed May 7, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 7, 2025
WASH$39.30-0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows for the
Washington Trust Bancorp, Inc. and Subsidiaries
Consolidated Statement of Cash Flows (unaudited)
(Dollars in thousands)
| Three months ended March 31, · 2025 · 2024 | ||||
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Net income | $12,179 | $10,936 | ||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Provision for credit losses | 1,200 | 700 | ||
| Gain on sale of bank-owned properties, net | (6,994) | — | ||
| Depreciation of premises and equipment | 894 | 1,001 | ||
| Net amortization of premiums and discounts on debt securities and loans | 94 | 265 | ||
| Amortization of intangibles | 204 | 208 | ||
| Amortization of terminated cash flow hedge loss | 2,116 | 2,138 | ||
| Pension plan settlement charge | 6,436 | — | ||
| Share-based compensation | 780 | 753 | ||
| Tax expense from stock option exercises and other equity awards | (21) | (7) | ||
| Income from bank-owned life insurance | (769) | (739) | ||
| Net gains on loan sales, including changes in fair value | (1,709) | (1,910) | ||
| Proceeds from sales of loans, net | 74,377 | 70,480 | ||
| Loans originated for sale | (72,919) | (74,643) | ||
| Decrease in operating lease right-of-use assets | 898 | 148 | ||
| Decrease in operating lease liabilities | (866) | (190) | ||
| Decrease (increase) in other assets | 6,066 | (5,806) | ||
| Decrease in other liabilities | (13,516) | (1,386) | ||
| Net cash provided by operating activities | 8,450 | 1,948 | ||
| Cash flows from investing activities: | ||||
| Maturities, calls, and principal payments of: | Available for sale debt securities: Mortgage-backed | 15,400 | 15,265 | |
| Net redemptions (purchases) of Federal Home Loan Bank stock | 10,918 | (3,619) | ||
| Net decrease (increase) in loans | 38,469 | (36,251) | ||
| Net proceeds from sale of portfolio loans | 283,182 | — | ||
| Purchases of loans | (453) | (597) | ||
| Purchases of premises and equipment | (88) | (626) | ||
| Net proceeds from the sale of bank-owned properties | 11,780 | — | ||
| Equity investments in real estate limited partnerships | — | (758) | ||
| Purchases of other equity investments | (250) | (125) | ||
| Net cash provided by (used in) investing activities | 358,958 | (26,711) | ||
| Cash flows from financing activities: | ||||
| Net decrease in deposits | (75,219) | (267) | ||
| Proceeds from Federal Home Loan Bank advances | 270,000 | 860,000 | ||
| Repayments of Federal Home Loan Bank advances | (545,000) | (810,000) | ||
| Net proceeds from stock option exercises and issuance of other equity awards, net of awards surrendered | (39) | (17) | ||
| Cash dividends paid | (10,800) | (9,549) | ||
| Net cash (used in) provided by financing activities | (361,058) | 40,167 | ||
| Net increase in cash and cash equivalents | 6,350 | 15,404 | ||
| Cash and cash equivalents at beginning of period | 113,889 | 90,184 | ||
| Cash and cash equivalents at end of period | $120,239 | $105,588 | ||
| Noncash Investing and Financing Activities: | ||||
| Loans charged-off | $2,522 | $70 | ||
| Supplemental Disclosures: | ||||
| Interest payments | $49,732 | $54,584 | ||
| Income tax payments | 23 | 3,416 | ||
-8-
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.