WASH Q1 2026 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Tue, April 21, 2026 astatine 12:42 PM CDT 23 min read

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Tuesday, April 21, 2026 astatine 8:30 a.m. ET

• Chairman and Chief Executive Officer — Edward O. Handy III

• Senior Executive Vice President and Chief Financial Officer — Ronald J. Ohsberg

• Executive Vice President and Chief Risk Officer — William Wray

• Executive Vice President, Head of Wealth Management — Mary E. Noons

Edward Handy: Thank you, Sharon. Good morning, and convey you for joining our archetypal 4th league call. We admit your clip and your continued involvement successful Washington Trust. I'll statesman with a little overview of our archetypal 4th results, and past Ron volition supply much item connected our fiscal show for the quarter. Following our remarks, Mary and Bill volition articulation america for the question-and-answer session. Building connected the momentum generated passim 2025, quarterly show was driven by continued nett involvement borderline enlargement reflecting the underlying spot of our halfway banking concern and continued benefits from our December 2024 equilibrium expanse repositioning transactions.

The Q1 results do, however, see a higher proviso related to reserve builds connected 2 escaped credits moved to nonaccrual successful March, and we'll supply details connected those successful the Q&A session. Our superior ratios stay strong, providing the flexibility to enactment continued execution crossed the business. In the archetypal quarter, we completed a integer banking conversion for idiosyncratic accounts that provides enhanced information and exertion and a amended lawsuit experience, reinforcing our absorption connected work and relationships. We volition proceed the conversion of our concern accounts successful the ensuing quarters. With caller manufacture shifts locally, these investments presumption america good to pull caller customers by pairing modern capabilities with the personalized work that defines Washington Trust.

We're besides leveraging our spot arsenic a assemblage slope that prioritizes section decision-making to pull experienced bankers to our commercialized team. We precocious added caller endowment crossed C&I, CRE and concern banking, each of whom bring heavy acquisition and beardown lawsuit relationships successful the region. The organization banking squad we added successful January is showing beardown momentum that positions america for indebtedness and deposit maturation arsenic the twelvemonth progresses. In addition, our planned subdivision opening aboriginal this twelvemonth successful Pataka, Rhode Island volition further grow our beingness successful the bluish portion of the state. Overall, we're encouraged by the advancement we are making to presumption the institution for semipermanent success.