Washington Trust Bancorp (WASH) Investor presentation summary

Market position and business overview

• Holds a top-tier deposit market share and operates as the largest state-chartered bank in Rhode Island, with a diversified banking and wealth management platform.

• Operates 28 bank branches, 5 wealth management offices, 7 residential mortgage offices, and 4 commercial lending offices across RI, MA, and CT.

• Fee income constitutes 30% of total revenue, with a strong presence in wealth management and mortgage banking.

• Market capitalization stands at $696 million as of June 30, 2026.

Financial performance and capital position

• Net interest margin (NIM) increased by 10bps versus Q1 2026, with further improvement expected due to the cessation of hedge amortization.

• Book value per share was $29.02 and tangible book value per share was $25.46 as of June 30, 2026.

• CET1 ratio and tangible equity to tangible assets remain strong, supporting a 6.14% dividend yield.

• Paid consistent dividends for over a century, with a 10.03% CAGR in tangible book value plus cumulative dividends since 2006.

Loan and deposit portfolio

• Total loans were $5.1 billion as of June 30, 2026, with 63% variable rate exposure.

• Loan portfolio is diversified: 40% residential, 40% CRE, 13% C&I, and 7% consumer.

• Cumulative loan losses since 2006 are 193 bps, well below peer averages.

• Total in-market deposits were $4.8 billion, with a balanced mix: 40% money market & savings, 39% demand & NOW, and 21% time deposits.

• Deposit cost was 2.12% and in-market deposit growth was 6.3% YoY as of June 30, 2026.