WASH Washington Trust Bancorp, Inc. featured news, full reports, and detailed charts
Washington Trust Bancorp, Inc. (WASH) Wrap Up:
Washington Trust Bancorp, Inc. (the “Bancorp”), a publicly-owned registered bank holding company and financial holding company, was organized in 1984 under the laws of the state of Rhode Island. The Bancorp owns all of the outstanding common stock of The Washington Trust Company (the “Bank”), a Rhode Island chartered commercial bank. The Bancorp was formed in 1984 under a plan of reorganization in which outstanding common shares of the Bank were exchanged for common shares of the Bancorp. See additional information under the caption “Subsidiaries”. Through its subsidiaries, the Bancorp offers a broad range of financial services to individuals and businesses, including wealth management, through its offices in Rhode Island, Massachusetts and southeastern Connecticut, ATMs, and its Internet website (www.washtrust.com). The Bancorp’s common stock is traded on the NASDAQ Global MarketÒ under the symbol “WASH. ... More..."http://secfilings.nasdaq.com/edgar_conv_html%2f2008%2f02%2f25%2f0000950135-08-001151.html#FIS_BUSINESS"www.washtrust.com
440 Employees
Founded in 1800
Washington Trust Bancorp Inc. (WASH:NASDAQ)
LAST $14.90 USD
CHANGE TODAY +0.05 0.34%
VOLUME 40.5K
As of 4:00 PM 11/20/09 All times are local (Market data by Reuters is delayed by at least 15 minutes).
Snapshot of Washington Trust Bancorp Inc. (WASH)
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OPEN
$14.75
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PREVIOUS CLOSE
$14.85
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DAY HIGH
$15.05
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DAY LOW
$14.56
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52 WEEK HIGH
12/19/08 - $21.84
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52 WEEK LOW
03/5/09 - $11.50
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MARKET CAP
239.0M
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AVERAGE VOLUME 3 mo
42.4K
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DILUTED EPS TTM
$0.97
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SHARES OUTSTANDING
16.0M
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EX-DATE
09/28/09
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P/E TTM
15.3x
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DIVIDEND
$0.84
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DIVIDEND YIELD
5.64%
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| K = Thousands M = Millions B = Billions | ||
WASH Top Compensated Officers
Mr. John C. Warren
Chairman, Chief Executive Officer, Member of ...
Age: 63
Total Annual Compensation: $484.8K
Mr. David V. Devault
Chief Financial Officer, Principal Accounting...
Age: 54
Total Annual Compensation: $220.1K
Mr. Galan George Daukas CFA
Executive Vice President of Wealth Management...
Total Annual Compensation: $310.0K
Mr. James M. Vesey
Executive Vice President and Chief Credit Off...
Age: 61
Total Annual Compensation: $169.9K
Executives, Board Directors
Compensation as of Fiscal Year 2008.
Key developments for Washington Trust Bancorp Inc. (WASH)
John F. Treanor Retires from Washington Trust Bancorp Inc. and The Washington Trust Company as President and Chief Operating Officer
10/20/2009
John F. Treanor retired as President and Chief Operating Officer of Washington Trust Bancorp Inc. and The Washington Trust Company on October 16, 2009.
Washington Trust Bancorp Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2009 ; Reports Impairment Charges for the Third Quarter of 2009
10/20/2009
Washington Trust Bancorp Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. The company announced third quarter 2009 net income of $4.9 million, or 31 cents per diluted share, compared to third quarter 2008 net income of $6.0 million, or 44 cents per diluted share. Earnings in the third quarter of 2009 were influenced by the following: Impairment losses of $467,000 were charged to earnings in the third quarter of 2009 for an investment security deemed to be other-than-temporarily impaired at September 30, 2009; the loan loss provision charged to earnings amounted to $1.8 million for the third quarter of 2009, compared to $1.1 million for the third quarter of 2008; no dividend was received from the Federal Home Loan Bank of Boston in the third quarter of 2009. Federal Deposit Insurance Corp. deposit insurance premiums for the third quarter of 2009 were up by $543,000 from the third quarter a year earlier, reflecting higher assessment rates. Net interest income for the third quarter of 2009 increased $465,000, or 3%, from the second quarter of 2009 and remained essentially flat compared to the third quarter a year ago. Book value per share as on September 30, 2009 was $15.73 against $13.76 reported a year ago. Non-GAAP tangible book value per share was $11.53 against $8.80 a year ago. Return on average assets was 0.68% against 0.88% a year ago. Return on average tangible assets was 0.69% against 0.90% a year ago. Return on average equity was 7.94% against 12.94% a year ago. Return on average tangible equity was 10.91% against 19.25% reported a year ago. For the nine months ended September 30, 2009, net income amounted to $11.3 million, or 71 cents per diluted share, compared to $18.0 million, or $1.32 per diluted share, for the same period in 2008. On a year-to-date basis, net interest income increased $1.0 million, or 2%, from 2008. Return on average assets was 0.52% against 0.90% a year ago. Return on average tangible assets was 0.53% against 0.92% a year ago. Return on average equity was 6.24% against 12.68% a year ago. Return on average tangible equity was 8.66% against 18.80% reported a year ago. Impairment losses of $467,000 were charged to earnings in the third quarter of 2009 for an investment security deemed to be other-than-temporarily impaired at September 30, 2009. Impairment losses of $982,000 were recognized in the third quarter of 2008.
Washington Trust Bancorp Inc., Q3 2009 Earnings Call, Oct-21-2009
10/5/2009
Washington Trust Bancorp Inc., Q3 2009 Earnings Call, Oct 21 2009
WASH Competitors
| Company | Last | Change |
| Bank of America Corp | $16.09 USD | +0.01 |
| Idaho Independent Bank Coeur Dalene | $5.10 USD | +0.10 |
| Intermountain Community Bancorp | $3.10 USD | +0.10 |
| Wells Fargo & Co | $27.87 USD | -0.45 |
| Market data is delayed at least 20 minutes. | ||
Industry Analysis
| Valuation | WASH | Industry Range |
| Price/Earnings | 15.3x |
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| Price/Sales | 2.5x |
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| Price/Book | 0.9x |
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| Price/Cash Flow | 15.4x |
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| TEV/Sales | NM | Not Meaningful |
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WASH |
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WASH transactions
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| No transactions in the last 6 months. | ||
More Recent News About Washington Trust Bancorp, Inc.
More news for WASH
Washington Trust Declares Dividend
Copyright © 2009 Yahoo! All rights reserved. Privacy Policy - Terms of Service - Copyright Policy - Report Problems Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quote data delayed 15 minutes for Nasdaq, NYSE and Amex. Real-Time continuous streaming quotes are available through our premium service. You may turn streaming quotes on or off. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Yahoo! is not an investment adviser and does not provide, endorse or review any information or data contained herein....Click here to read the whole Article (external link)
WASHINGTON TRUST BANCORP INC Files SEC form 8-K, Change in Directors or Principal Officers
Item 5.02 (e): Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On August 27, 2009, the Compensation Committee ("Committee") of the Board of Directors ("Board") of Washington Trust Bancorp, Inc. ("Corporation") approved a modification to the cash incentive plan that covers, among other employees, the Named Executive Officers ("Annual Performance Plan" or "Plan"). This modification applies only to Plan payments for calendar year 2009. The description of the Plan is set forth in the 2009 Proxy Statement, and the Plan is filed as an exhibit to our Form 10-K for the year ended December 31, 2008. The Annual Performance Plan provides for the payment of additional cash compensation based on corporate performance and the achievement of individual objectives by each participant. The percentages allocated to the corporate performance component and the individual performance component are 70% and 30%, respectively, for the Chief Executive Officer and the Chief Operating Officer, and 60% and 40%, respectively, for all other executive officers. The target bonus opportunity is determined as a percentage of regular base salary earnings, and varies by level of responsibility. As previously disclosed, the Committee has reduced 2009 bonus targets to 80% of the target bonus percentage. In determining corporate performance, the Annual Performance Plan focuses primarily on three financial metrics: net income, fully diluted earnings per share, and return on equity, with each metric receiving equal weighting. Performance targets are established at the beginning of each year by the Corporation's Board. Performance exceeding a threshold of 80% of the performance target will result in progressively higher payment levels, ranging from 50% to 150% of the target payment for the corporate performance component. The Committee made no modifications to the prov...Click here to read the whole Article (external link)
WASHINGTON TRUST BANCORP INC Files SEC form 10-Q, Quarterly Report
ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Forward-Looking Statements This report contains statements that are "forward-looking statements." We may also make written or oral forward-looking statements in other documents we file with the SEC, in our annual reports to shareholders, in press releases and other written materials, and in oral statements made by our officers, directors or employees. You can identify forward-looking statements by the use of the words "believe," "expect," "anticipate," "intend," "estimate," "assume," "outlook," "will," "should," and other expressions that predict or indicate future events and trends and which do not relate to historical matters. You should not rely on forward-looking statements, because they involve known and unknown risks, uncertainties and other factors, some of which are beyond the control of the Corporation. These risks, uncertainties and other factors may cause the actual results, performance or achievements of the Corporation to be materially different from the anticipated future results, performance or achievements expressed or implied by the forward-looking statements. Some of the factors that might cause these differences include the following: changes in general national, regional or international economic conditions or conditions affecting the banking or financial services industries or financial capital markets, volatility and disruption in national and international financial markets, government intervention in the U.S. financial system, reductions in net interest income resulting from interest rate volatility as well as changes in the balance and mix of loans and deposits, reductions in the market value of wealth management assets under administration, changes in the value of securities and other assets, reductions in loan demand, changes in loan collectibility, default...Click here to read the whole Article (external link)
Looking For Value In Eastern Banks: Hidden Gems In Specific Regions
67 WALL STREET, New York - October 15, 2009 - The Wall Street Transcript has just published its Northeast & Mid-Atlantic Regional Banks Report offering a timely review of the sector to serious investors and industry executives. This 121 page feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online. Topics covered: Residential Mortgage Situation -- Regional Banks Mergers and Acquisitions Timing Strategy -- Commercial Mortgage Portfolio Decay -- Timing Of Commercial Mortgage Portfolio Bad Debt Write Offs-- FDIC Hit List For Bank Closings -- Mutual Holding Company Structure -- Interest Rate Scenarios -- Banking Pricing Power -- Expensive Bank Valuations -- Tangible Book As Guide For Bank Stock Pricing -- Distressed Sales Of Community and Regional Banks -- TARP Program -- Attitude Of Institutional Investors Towards Resurgence in Community Banking -- Unique Business Models -- Regional Bank Boards Looking For Exit Companies include: BB and T (BBT); Colonial (CNB); First Niagara (FNFG); PNC (PNC); National City (NCC-PA); Harleysville National (HNBC); Citizens First Bancorp (CTZN); Regions Financial (RF); Bank of America (BAC); SunTrust Banks (STI); Pinnacle Financial (PNFP); Northwest Bancorp Inc. (NWSB); Beneficial (BNCL); Investor Savings Bancorp (ISBC); Territorial Bancorp (TBNK); FNB Bancorp (FNBG.OB); National Penn (NPBC); Trustco Bank (TRST); KeyBank (KEY); M and T Bank (MTB); New York Community Bancorp (NYB); Bank of New York Mellon (...Click here to read the whole Article (external link)
Washington Trust Announces Date of Third Quarter Earnings Conference Call and Webcast
Copyright © 2009 Yahoo! All rights reserved. Privacy Policy - Terms of Service - Copyright Policy - Report Problems Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quote data delayed 15 minutes for Nasdaq, NYSE and Amex. Real-Time continuous streaming quotes are available through our premium service. You may turn streaming quotes on or off. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Yahoo! is not an investment adviser and does not provide, endorse or review any information or data contained herein....Click here to read the whole Article (external link)
Washington Trust Announces Third Quarter 2009 Earnings
WESTERLY, R.I.--(BUSINESS WIRE)--Washington Trust Bancorp, Inc. (NASDAQ Global Select; symbol: WASH), parent company of The Washington Trust Company, today announced third quarter 2009 net income of $4.9 million, or 31 cents per diluted share, compared to third quarter 2008 net income of $6.0 million, or 44 cents per diluted share. For the nine months ended September 30, 2009, net income amounted to $11.3 million, or 71 cents per diluted share, compared to $18.0 million, or $1.32 per diluted share, for the same period in 2008. Earnings in the third quarter of 2009 were influenced by the following:Selected Third Quarter 2009 developments:John C. Warren, Washington Trust Bancorp, Inc.’s Chairman and Chief Executive Officer, stated “We are pleased with Washington Trust’s third quarter performance in these challenging times. It is a testament to our sound business model and strong corporate brand that we were able to outperform market expectations during a period of continued economic uncertainty.â€RESULTS OF OPERATIONSNet interest income for the third quarter of 2009 increased $465 thousand, or 3 percent, from the second quarter of 2009 and remained essentially flat compared to the third quarter a year ago. On a year-to-date basis, net interest income increased $1.0 million, or 2 percent, from 2008. No dividend has been received from the FHLBB in 2009. Dividend income on Washington Trust’s investment in FHLBB stock totaled $292 thousand and $1.1 million for the three and nine months ended September 30, 2008, respectively.The net interest margin (annualized tax-...Click here to read the whole Article (external link)
Q3 2009 Washington Trust Bancorp, Inc. Earnings Release - After Market Close
Earnings Announcements for Tuesday, October 20CompanySymbolTimeConferenceCallAccess National CorporationANCXTime Not SuppliedAEOLUS TYRE CO600469.SSTime Not SuppliedALLEGIANT TRAVEL COALGTTime Not SuppliedAMERICAN CAPITAL AGENCY CORPAGNCAfter Market CloseListenAmeriServ Financial, Inc.ASRV08:00 am ETAmylin Pharmaceuticals, Inc.AMLNAfter Market CloseApplied Industrial TechnologiesAITBefore Market OpenArbitron Inc.ARBBefore Market OpenListenAstec IndustriesASTE07:00 am ETAutolivALV06:00 am ETAutonomy Corporation plcAUTNF.PKBefore Market OpenAware, IncAWRETime Not SuppliedListenBancFirstBANFBefore Market OpenBANK MUTUAL CORP NEWBKMUTime Not SuppliedBank of New York Mellon CorpBK06:30 am ETListenBanner CorporationBANRAfter Market CloseBEIJING SHUNXIN AGRICULTURE CO...Click here to read the whole Article (external link)
WASHINGTON TRUST BANCORP INC Files SEC form 10-Q, Quarterly Report
ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Forward-Looking Statements This report contains statements that are "forward-looking statements." We may also make written or oral forward-looking statements in other documents we file with the SEC, in our annual reports to shareholders, in press releases and other written materials, and in oral statements made by our officers, directors or employees. You can identify forward-looking statements by the use of the words "believe," "expect," "anticipate," "intend," "estimate," "assume," "outlook," "will," "should," and other expressions that predict or indicate future events and trends and which do not relate to historical matters. You should not rely on forward-looking statements, because they involve known and unknown risks, uncertainties and other factors, some of which are beyond the control of the Corporation. These risks, uncertainties and other factors may cause the actual results, performance or achievements of the Corporation to be materially different from the anticipated future results, performance or achievements expressed or implied by the forward-looking statements. Some of the factors that might cause these differences include the following: changes in general national, regional or international economic conditions or conditions affecting the banking or financial services industries or financial capital markets, volatility and disruption in national and international financial markets, government intervention in the U.S. financial system, reductions in net interest income resulting from interest rate volatility as well as changes in the balance and mix of loans and deposits, reductions in the market value of wealth management assets under administration, changes in the value of securities and other assets, reductions in loan demand, changes in loan collectibility, default...Click here to read the whole Article (external link)
WASHINGTON TRUST BANCORP INC Files SEC form 8-K, Results of Operations and Financial Condition, Change in Directors o
Show all filings for WASHINGTON TRUST BANCORP INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for WASHINGTON TRUST BANCORP INC 20-Oct-2009Results of Operations and Financial Condition, Change in Directors o Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All inf...Click here to read the whole Article (external link)
WASHINGTON TRUST BANCORP INC Financials
PERIOD ENDING30-Sep-0930-Jun-0931-Mar-0931-Dec-08Total Revenue41,234 42,627 45,609 46,583 Cost of Revenue7,577 8,481 9,547 10,164 Gross Profit - 34,146 36,062 36,419 Operating ExpensesResearch Development - - - - Selling General and Administrative17,004 20,021 18,082 17,766 Non Recurring(106)(2,253)4,244 (2,989)Others2,103 3,308 2,008 8,638 Total Operating Expenses - - - - Operating Income or Loss - 13,070 11,728 13,004 Income from Continuing OperationsTotal Other Income/Expenses Net - - - - Earnings Before Interest And Taxes14,656 13,070 11,728 13,004 Interest Expense7,885 7,835 7,951 8,616 Income Before Tax6,771 5,235 3,777 4,388 Income Tax Expense1,858 1,470 1,107 167 Minority Interest - - - - Net Income From Continuing Ops4,913 3,765 2,670 4,221 Non-recurring EventsDiscontinued Operations - - - - Extraordinary Items - - - - &nb...Click here to read the whole Article (external link)
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