Washington Trust Bancorp, Inc. · NASDAQ:WASH
Washington Trust Bancorp — Investor Presentation (December 2024)
6 slides from Washington Trust Bancorp's investor presentation, Dec 20, 2024
Slide 1: December 2024 Investor Presentation
December 2024 Investor Presentation NASDAQ: WASH
Slide 2: Disclaimers: Forward-Looking Statements
Disclaimers 2 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 t
Slide 3: Summary of December Strategic Actions
Announced common stock offering on 12/12/2024 Common Stock Offering Issued ~2.2 million new shares at $34 per/share o 6.3% discount to last sale (12/12/2024) o Net cash proceeds of ~$70 million to repay wholesale funding balances at weighed average rate of ~4.50% Agreed to sell ~$345 million in low-
Slide 4: Highlights of Equity Raise and Balance Sheet Repositioning
4 Highlights of Equity Raise and Balance Sheet Repositioning 1.85% 1.85% 0.31% Q3 2024 Actual Q3 2024 Pro Forma Net Interest Margin $10,981 $10,981 $2,650 Q3 2024 Actual Q3 2024 Pro Forma Net Income(1) ($ thousands) $0.64 $0.64 $0.06 Q3 2024 Actual Q3 2024 Pro Forma Diluted EPS(1) (Per Common Share)
Slide 5: Performance Momentum
5 Performance Momentum In addition to the common stock offering and balance sheet repositioning, our future operating results are expected to benefit from the following: o Net Interest Income & Net Interest Margin (“NIM”)(1) - declining rates benefit liability-sensitive balance sheet o Wealth Manage
Slide 6: Appendix: Calculation of Non-GAAP Financial Measures
6 Appendix Calculation of Non-GAAP Financial Measures Q3 2024 Pro-FormaQ3 2024$s in thousands Calculation of Adjusted ROATCE $13,623 $10,973 Net income available to common shareholders $509,274 485,654Average Shareholders Equity Less average balances: 63,90963,909Goodwill 3,1893,189Identifiable inta
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