Washington Trust posts $11.3M profit in Q2

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WASHINGTON TRUST BANCORP INC. reported $11.3 million in profit for the second quarter of 2023, down 43% from the same period a year ago. / PBN FILE PHOTO/SCOTT KINGSLEY
WASHINGTON TRUST BANCORP INC. reported $11.3 million in profit for the second quarter of 2023, down 43% from the same period a year ago. / PBN FILE PHOTO/SCOTT KINGSLEY
WESTERLY – Washington Trust Bancorp. Inc. on Monday reported a $11.3 million second-quarter net income, a decrease of $8.7 million, or 43%, from the same quarter a year ago as higher interest rates had the bank paying out millions more to depositors and for other interest expenses.  Earnings per diluted share for the parent company…

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