Washington Trust Bancorp, Inc. (WASH) Income Statement
WASH 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsWASH revenue and net income
Where WASH's revenue goes
2025Each bar shows an amount and its share of revenue. WASH kept 13.7% of revenue as net income.
WASH profit margins
WASH growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +22.6% | +14.0% | +7.2% | +7.5% |
| Gross profit | +115.3% | −2.0% | −0.7% | +2.5% |
| Operating income | — | −9.6% | −5.4% | +0.5% |
| Net income | — | −10.0% | −5.6% | +1.9% |
| EPS (diluted) | +7.2% | −13.3% | −7.8% | +0.5% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
WASH quarterly EPS vs estimates
Washington Trust Bancorp beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: October 19, 2026 (estimate $0.87).
WASH income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $381.1M | $310.8M | $364.8M | $257.1M | $245.4M | $269.4M | $264.7M | $238.5M | $214.4M | $198.6M |
| Cost of revenue | $174.1M | $214.6M | $174.8M | $37.2M | $11.7M | $54.8M | $65.8M | $45.7M | $32.7M | $28.6M |
| Gross profit | $207.0M | $96.2M | $190.0M | $219.9M | $233.7M | $214.5M | $198.9M | $192.9M | $181.7M | $170.0M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $5.8M | $94.4M | $89.7M | $88.1M | $90.7M | $86.2M | $74.9M | $72.3M | $71.6M | $71.1M |
| Total operating expenses | $139.6M | $135.0M | $133.6M | $128.7M | $135.5M | $125.4M | $110.7M | $106.2M | $104.1M | $101.1M |
| Operating income | $67.4M | −$38.8M | $56.5M | $91.2M | $98.2M | $89.2M | $88.2M | $86.7M | $77.6M | $68.9M |
| Interest income | $318.1M | $340.7M | $305.3M | $193.9M | $157.6M | $167.7M | $194.8M | $174.0M | $147.8M | $132.4M |
| Interest expense | $164.9M | $212.2M | $171.6M | $38.5M | $16.6M | $42.5M | $64.2M | $44.1M | $30.1M | $23.0M |
| Income before taxes | $67.4M | −$38.8M | $56.5M | $91.2M | $98.2M | $89.2M | $88.2M | $86.7M | $77.6M | $68.9M |
| Income taxes | $15.2M | −$10.8M | $8.3M | $19.5M | $21.3M | $19.3M | $19.1M | $18.3M | $31.7M | $22.4M |
| Net income | $52.2M | −$28.1M | $48.2M | $71.7M | $76.9M | $69.8M | $69.1M | $68.4M | $45.9M | $46.5M |
| EBITDA | $71.6M | −$34.1M | $61.3M | $95.5M | $102.5M | $93.2M | $92.4M | $91.0M | $82.1M | $73.8M |
| EPS (diluted) | $2.68 | $2.50 | $2.81 | $4.11 | $4.39 | $4.02 | $3.92 | $3.95 | $3.01 | $2.70 |
| Gross margin | 54.3% | 30.9% | 52.1% | 85.5% | 95.2% | 79.6% | 75.1% | 80.9% | 84.8% | 85.6% |
| Operating margin | 17.7% | −12.5% | 15.5% | 35.5% | 40.0% | 33.1% | 33.3% | 36.3% | 36.2% | 34.7% |
| Net margin | 13.7% | −9.0% | 13.2% | 27.9% | 31.3% | 25.9% | 26.1% | 28.7% | 21.4% | 23.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $93.8M | $92.1M | $97.3M | $98.6M | $95.9M | $95.1M | $4.9M | $103.9M | $101.7M | $100.3M | $97.3M | $95.9M |
| Cost of revenue | $35.0M | $38.5M | $38.7M | $48.9M | $42.3M | $44.2M | $49.9M | $55.5M | $54.9M | $54.3M | $52.5M | $47.5M |
| Gross profit | $58.9M | $53.6M | $58.7M | $49.7M | $53.7M | $50.9M | −$45.0M | $48.3M | $46.8M | $46.0M | $44.8M | $48.5M |
| Sales, general & admin | $27.0M | $25.8M | $25.7M | $24.5M | $1.4M | $24.1M | $23.7M | $23.6M | $23.3M | $23.8M | $20.6M | $23.6M |
| Total operating expenses | $38.6M | $37.8M | $38.0M | $35.7M | $36.5M | $35.2M | $35.3M | $34.5M | $32.9M | $32.3M | $32.6M | $34.4M |
| Operating income | $20.3M | $16.1M | $20.7M | $13.9M | $17.1M | $15.7M | −$80.2M | $13.8M | $13.8M | $13.8M | $12.2M | $14.1M |
| Interest income | $75.2M | $75.0M | $78.8M | $80.9M | $78.8M | $79.5M | $81.8M | $86.3M | $84.9M | $84.2M | $83.0M | $79.8M |
| Interest expense | $33.4M | $34.5M | $38.1M | $42.1M | $41.7M | $43.0M | $48.9M | $55.3M | $54.4M | $53.6M | $51.3M | $47.0M |
| Income before taxes | $20.3M | $16.1M | $20.7M | $13.9M | $17.1M | $15.7M | −$80.2M | $13.8M | $13.8M | $13.8M | $12.2M | $14.1M |
| Income taxes | $4.3M | $3.5M | $4.7M | $3.1M | $3.9M | $3.5M | −$19.5M | $2.8M | $3.0M | $2.8M | −$774,000 | $2.9M |
| Net income | $16.0M | $12.6M | $16.0M | $10.8M | $13.2M | $12.2M | −$60.8M | $11.0M | $10.8M | $10.9M | $12.9M | $11.2M |
| EBITDA | $21.2M | $17.0M | $21.7M | $15.0M | $18.2M | $16.8M | −$79.1M | $15.0M | $15.0M | $15.0M | $13.4M | $15.3M |
| EPS (diluted) | $0.83 | $0.66 | $0.83 | $0.56 | $0.68 | $0.61 | $0.59 | $0.64 | $0.63 | $0.64 | $0.76 | $0.65 |
| Gross margin | 62.7% | 58.2% | 60.3% | 50.4% | 55.9% | 53.5% | −911.2% | 46.5% | 46.0% | 45.9% | 46.0% | 50.5% |
| Operating margin | 21.6% | 17.4% | 21.2% | 14.1% | 17.9% | 16.5% | −1,626.1% | 13.3% | 13.6% | 13.7% | 12.5% | 14.7% |
| Net margin | 17.0% | 13.7% | 16.4% | 11.0% | 13.8% | 12.8% | −1,231.8% | 10.6% | 10.6% | 10.9% | 13.3% | 11.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in WASH's financial statements (latest annual report filed February 24, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
WASH financial results
In fiscal year 2025 (ended December 31, 2025), Washington Trust Bancorp reported revenue of $381.1 million, up 22.6% from the year before. It had net income of $52.2 million, a net profit margin of 13.7%. Diluted earnings per share came to $2.68. Over five years revenue grew at an average rate of 7.2% a year.
See the WASH stock overview for the latest quote and news, or the WASH chart for price history and technical indicators.
WASH income statement FAQ
What is Washington Trust Bancorp's annual revenue?
Washington Trust Bancorp reported total revenue of $381.1 million for fiscal year 2025, which ended on December 31, 2025. That was up 22.6% from $310.8 million the previous year.
Is Washington Trust Bancorp profitable?
Yes. Washington Trust Bancorp reported net income of $52.2 million in fiscal 2025, a net profit margin of 13.7%; its operating margin was 17.7%.
What is Washington Trust Bancorp's gross margin?
Washington Trust Bancorp's gross margin was 54.3% in fiscal 2025: for every $100 of revenue, Washington Trust Bancorp kept $54 after the direct cost of its products and services.
How fast is Washington Trust Bancorp growing?
Revenue grew 7.2% a year on average over the last five fiscal years, from $269.4 million to $381.1 million.
What are Washington Trust Bancorp's earnings per share?
Washington Trust Bancorp earned $2.68 per diluted share in fiscal 2025, compared with $2.50 a year earlier.
When will Washington Trust Bancorp report its next earnings?
Washington Trust Bancorp is expected to report results for the quarter ending September 30, 2026 on October 19, 2026 after the market closes.
When does Washington Trust Bancorp's fiscal year end?
Washington Trust Bancorp's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 24, 2026.