Washington Trust’s year-end profit declines 32.8% to $48.2M

Updated at 12:50 p.m. on Jan. 25.

PBN Staff

01/24/2024

WASHINGTON TRUST Bancorp Inc., the parent company for The Washington Trust Co., says its net income for 2023 was $48.2 million compared with $71.7 million it posted in 2022. / PBN FILE PHOTO/SCOTT KINGSLEY

WESTERLY – The Washington Trust Bancorp Inc. on Wednesday posted a profit of $48.2 million for 2023, down 32.8% from the $71.7 million it reported for 2022 as rapid interest rate increases last year took their toll on banks. Earnings per diluted share of Washington Trust dropped to $2.82 for the full 2023, down from

Already a Subscriber? Log in

To Continue Reading This Article

Become a Providence Business News subscriber and get immediate access to all of our premier content and much more.

Learn More and Become a Subscriber