Washington Trust Q2 net income +21% to $16.0M on margin expansion; nonaccruals surge 208%

Filed August 6, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 6, 2025 · ~2 min read

Key Changes

• high

  Nonaccrual loans surged 208% to $39.8M from $12.9M at year-end. Specific reserves allocated to these loans drove the allowance for credit losses up 14% to $42.6M.

  MD&A: Credit Quality verify on EDGAR →
• high

  Provision for credit losses jumped 211% to $5.6M for the six months ended June 30, 2026 from $1.8M in the prior year, reflecting specific reserve allocations on the two individually analyzed nonaccrual CRE office segment loans and changes in loan portfolio composition.

  MD&A: Provision for Credit Losses verify on EDGAR →
• high

  Net interest income rose 12% to $82.3M for the six months ended June 30, 2026, with net interest margin expanding 36 basis points to 2.68% from 2.32%. The improvement reflects benefits from the December 2024 balance sheet repositioning and the full amortization of a deferred loss on a terminated cash flow hedge as of May 1, 2026.

  MD&A: Net Interest Income verify on EDGAR →