Washington Trust Bancorp, Inc. · NASDAQ:WASH
Washington Trust Bancorp — Investor Presentation (February 2026)
22 slides from Washington Trust Bancorp's investor presentation, February 2026
Slide 1: Investor Deck Q4 2025
Investor Deck Q4 2025 NASDAQ: WASH
Slide 2: Safe Harbor: Forward-Looking Statements
Safe Harbor Forward-Looking Statements In this presentation, “we,” “our,” “us,” “Washington Trust” or the “Company” refers to Washington Trust Bancorp, Inc., and our consolidated subsidiaries, including The Washington Trust Company, of Westerly, unless the context indicates that we refer only to the
Slide 3: WASH Investment Profile Overview
WASH Investment Profile Overview Strong Market Position: Earnings & NIM Momentum: Top-tier market share with 4Q25 earnings beat; diversified banking and scaled adj. EPS up 41% vs 4Q24(1) wealth platform Well-Positioned for Rates: Loan Growth Upside: NIM expanding with continued Institutional banking
Slide 4: Washington Trust At-A-Glance: $6.6B Regional Financial Services Provider
WA S H I N G T O N T R U S T AT - A - G L A N C E $6.6B Regional Financial Services Provider Founded in 1800 Oldest Community bank in the US Largest State-Chartered Bank In Rhode Island $6.6B $5.1B $5.3B Assets Loans Deposits Diverse Revenue Streams(1) Premier Regional Net Interest Wealth Management
Slide 5: High Quality Loan Portfolio
L O A N S High Quality Loan Portfolio Q4 2024 balance sheet 63% 99% o repositioning included the sale of ~ $345mm of Variable rate Residential lending residential mortgages at loans in RI, MA, & CT a weighted average rate of ~ 3.0% o Customer-centric approach with emphasis on superior Total Loan Por
Slide 6: NIM Improvement in 2025
NET INTEREST MARGIN & REPRICING NIM Improvement in 2025 Net Interest Margin o Balance sheet repositioning and 2024 rate cuts to $200 expand quarterly NIM (2.40% Q4 2025) 3.00% o April 2026 - amortization of swap termination $150 expense ceases 2.00% o Pre-tax expense savings of $715k/mo, $100 $8.6mm
Slide 7: Steady, Balanced Mix of Deposits
DEPOSITS Steady, Balanced Mix of Deposits Total In-Market Deposit Portfolio ($ in billions) 2.28% 9% Cost of all in-market Deposit In-Market deposits (1) Growth YoY $5.3 $4.7 $4.7 $4.8 $4.5 Time deposits (23%) o Give customers the options of banking where, when and how they choose MM & Savings (38%)
Slide 8: Largest Community Bank in Rhode Island
LARGEST Community Bank in Rhode Island Rhode Island Market Share (1) 11.1% $188M Rank Institution (ST) Branch Count Total Deposits in Market ($B) Total Market Share Market Share Avg. in-market 1 Citizens (RI) 52 $16.8 37.8% in Rhode Island (1) deposits per branch (2) 2 Bank of America (NC) 24 8.9 20
Slide 9: Sizeable Wealth Management Operation
W E A LT H M A N A G E M E N T Sizeable Wealth Management Operation o Full range of personalized financial services aimed at building $7.8B AUA o customized solutions for clients Key differentiators: o breadth of our holistic advisory services, which go o Key contributor to pre-tax income beyond wha
Slide 10: Capital Supports Dividend
C A P I TA L P O S I T I O N / B A L A N C E S H E E T Capital Supports Dividend o Solid balance sheet, fee-intensive business model CET1 Ratio 20.00% o Balance sheet repositioning = substantial Risk 16.00% Based Capital improvement in 2025 (~66 bps) 12.00% o Temporary decline in Tangible Equity / T
Slide 11: Long History of Industry-Leading Dividend Yields
DELIVERING SHAREHOLDER VALUE Long History of Industry-Leading Dividend Yields 7.58% (1) Tangible Book Value per Share Plus Cumulative Dividend per Share CAGR Dividend Yield 12/31/2006 to 9/30/2025 10.11% 6.92% 7.71% Paid consistent dividend for more than a century WASH Average peer Median peer Cash
Slide 12: Commercial Lending Portfolio
Commercial Lending Portfolio Commercial Real Estate (CRE): $2.2 billion % of CRE Portfolio by Segment as of 12/31/2025 Multi-family (31%) $667,388 Retail (20%) $436,961 Industrial & Warehouse (17%) $380,403 Office (11%) $237,706 Hospitality (11%) $230,549 Healthcare facility (7%) $156,871 Mixed-use
Slide 13: Office Portfolio
Office Portfolio o Office portfolio consists of 43 loans with o Approximately 51% of the total commercial a Carry Value of $238 million. real estate office balance will mature before December 31, 2027. Weighted Asset Quality Average Debt Non-Accrual Avg Loan Loan to Service Special (included in Bala
Slide 14: Residential & Home Equity
Residential & Home Equity Residential Home Equity Total portfolio ($ millions) $ 2,050.4 $ 318.9 FICO score* 764 755 Total delinquencies 0.44% 0.50% Nonperforming 0.54% 0.57% Net charge-offs to average loans 0.00% -0.01% LTV (1) 52.9% 18.9% CT 6% Other 1% MA 70% RI 23% At or for the twelve months en
Slide 15: Balance Sheet
Balance Sheet Dec 31, Dec 31, Dec 31, Dec 31, Dec 31, $s in thousands 2025 2024 2023 2022 2021 Assets: Cash and cash equivalents $ 103,734 $ 113,889 $ 90,184 $ 118,422 $ 178,493 Total securities 940,342 916,305 1,000,380 993,928 1,042,859 Total loans 5,134,388 5,137,838 5,647,706 5,110,139 4,272,925
Slide 16: Income Statement
Income Statement For the Year Ended Adjusted Dec Dec 31, 31, Dec 31, Dec 31, Dec 31, Dec 31, $s in thousands 2025 2024 2024 2023 2022 2021 Interest and dividend income $ 318,091 $ 340,678 $ 340,678 $ 308,659 $ 194,465 $ 157,995 Interest expense 164,903 212,230 212,230 171,561 38,475 16,560 Net inter
Slide 17: Supplemental Information
Supplemental Information 17
Slide 18: Non-GAAP Financial Measures
Non-GAAP Financial Measures As calculated by S&P Global Market Intelligence For the Three Months Ended For the Year Ended Adjusted Noninterest Income: Dec 31, Sep 30, Jun 30, Mar 31, Dec 31, Dec 31, Dec 31 $s in thousands, except per share amounts 2025 2025 2025 2025 2024 2025 2024 Noninterest (loss
Slide 19: Non-GAAP Financial Measures
Non-GAAP Financial Measures As calculated by S&P Global Market Intelligence For the Three Months Ended For the Year Ended Adjusted Income Tax Expense: Dec 31, Sep 30, Jun 30, Mar 31, Dec 31, Dec 31, Dec 31 $s in thousands, except per share amounts 2025 2025 2025 2025 2024 2025 2024 Income tax (benef
Slide 20: Non-GAAP Financial Measures
Non-GAAP Financial Measures As calculated by S&P Global Market Intelligence For the Three Months Ended For the Year Ended Adjusted Return on Average Assets Dec 31, Sep 30, Jun 30, Mar 31, Dec 31, Dec 31 Dec 31 $s in thousands, except per share amounts 2025 2025 2025 2025 2024 2025 2024 Net (loss) in
Slide 21: Non-GAAP Financial Measures
Non-GAAP Financial Measures As calculated by S&P Global Market Intelligence For the Three Months Ended For the Year Ended Adjusted Return on Average Equity Dec 31, Sep 30, Jun 30, Mar 31, Dec 31, Dec 31 Dec 31 $s in thousands, except per share amounts 2025 2025 2025 2025 2024 2025 2024 Net (loss) in
Slide 22: Non-GAAP Financial Measures
Non-GAAP Financial Measures As calculated by S&P Global Market Intelligence For the Three Months Ended Dec 31, Sep 30, Jun 30, Mar 31, Dec 31, $s in thousands, except per share amounts 2025 2025 2025 2025 2024 Tangible Book Value per Share: Total shareholders’ equity, as reported $543,584 $533,021 $
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