Monitor next quarter's provision for credit losses and loan growth trends to determine if this is a temporary issue or a sign of deteriorating credit quality.
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Executive Summary
Washington Trust Bancorp reported Q1 2026 earnings of $0.66 per share, missing consensus estimates of $0.76 by 13.2% and falling 20.5% from the prior quarter. The miss was driven by a $4 million provision for credit losses and a 2% decline in loan balances, despite a 7 basis point increase in net interest margin.
Key Financial Metrics
Key Facts
- Q1 2026 EPS of $0.66 missed consensus of $0.76 by 13.2%
- Net income of $12.6 million down 21.1% from prior quarter
- Provision for credit losses surged to $4.0 million from $0.6 million
- Net interest margin increased 7 basis points to 2.63%
- Loan balances declined by 2% to $5.0 billion
Financial Impact
EPS miss of $0.10 (13.2%) vs consensus, $4.0 million provision for credit losses
Risk Factors
- Deteriorating credit quality as evidenced by $40.4 million in nonaccrual loans
- Declining loan portfolio and deposits
- Potential for further credit loss provisions if economic conditions worsen
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000737468-26-000064 |
| Document: wash-20260420.htm | 0000737468-26-000064 |
| Document: 0000737468-26-000064-index-headers.html | 0000737468-26-000064 |
| Document: 0000737468-26-000064-index.html | 0000737468-26-000064 |
| Document: 0000737468-26-000064.txt | 0000737468-26-000064 |
| 8-K Data (Synthetic) | 0000737468-26-000064 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | 144 | $39.62 | awaiting T+1 | — | $39.19 (−1.07%) |
Oct 19, 2026 7d ago | 8-K | $38.11 $38.47 | ▲ +0.94% | ▲ +0.42% | $39.19 (+2.83%) |
Sep 17, 2026 5w ago | Press Release | $38.82 $38.73 | ▼ −0.23% | ▼ −0.36% | $39.19 (+0.96%) |
Aug 7, 2026 11w ago | S-3 | $38.85 $38.52 | ▼ −0.85% | ▼ −0.82% | $39.19 (+0.88%) |
May 12, 2026 23w ago | 8-K | $31.66 $31.37 | ▼ −0.92% | ▼ −1.49% | $39.19 (+23.78%) |
Apr 23, 2026 26w ago | Insider Cluster | $31.23 $31.76 | ▲ +1.70% | ▲ +0.90% | $39.19 (+25.49%) |
Apr 23, 2026 26w ago | Insider Cluster | $31.44 $30.81 | ▼ −2.00% | ▼ −2.79% | $39.19 (+24.65%) |
Apr 23, 2026 26w ago | Insider Cluster | $31.44 $30.81 | ▼ −2.00% | ▼ −2.79% | $39.19 (+24.65%) |
Apr 23, 2026 26w ago | Insider Cluster | $31.44 $30.81 | ▼ −2.00% | ▼ −2.79% | $39.19 (+24.65%) |
Apr 23, 2026 26w ago | Insider Cluster | $31.44 $30.81 | ▼ −2.00% | ▼ −2.79% | $39.19 (+24.65%) |
US Market Status
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