Washington Trust (WASH) reported third-quarter 2026 net income of $19.4 million, up 21% from the prior quarter, with diluted EPS of $1.01. Net interest income rose 15% year over year to $44.7 million, and net interest margin reached 2.84%, up 44 basis points from a year earlier. Nonaccrual loans fell to 0.48% of total loans from 0.78% after the resolution of a large office loan. Total deposits hit a record $5.4 billion, up 4% year over year, which reduced wholesale funding by 52% to $376 million. For the fourth quarter, management guided NIM to 2.85% to 2.90% and expects expenses to rise by $1.5 million from technology, marketing and two new branch openings.
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- Washington Trust Reports Third Quarter 2026 Results
Washington Trust Bancorp (Nasdaq: WASH) reported third quarter 2026 net income of $19.4 million, up $3.4 million or 21% from the previous quarter, with diluted EPS of $1.01. Net interest margin expanded 11 basis points to 2.84%, and net interest income rose 7% to $44.7 million, including $283 thousand of previously unrecognized second-quarter interest income tied to a resolved commercial real estate office loan. Noninterest income increased 9%, helped by loan-related derivative income and a $954 thousand non-taxable gain on bank-owned life insurance, while noninterest expense rose 0.5%. Deposits reached an all-time high of $5.4 billion, loan balances grew $61.8 million from June 30, 2026, and the common equity tier 1 ratio stood at 11.93% at September 30, 2026. Compared with the third quarter of 2025, net income was up $8.5 million.
- FinancialContent - Washington Trust Bancorp ( WASH ) Q3 Earnings : What To Expect
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JPMorgan is expanding branches as rivals also invest in their networks, and the article argues the challenge is retaining deposits without overpaying while earning enough from each relationship to cover acquisition and servicing costs. JPMorgan trades at 13x forward P/E, and its Q2 EPS was $7.70, or $6.14 excluding significant securities gains. Analysts expect roughly 4% adjusted EPS growth in 2027 versus 2026, compared with 14% for peer Bank of America (BAC), which trades at 10x forward P/E. JPMorgan attributes about 40% of its deposit-share gains since 2019 to new branches, and says 90% of its first-time wealth investors in 2025 came through branch referrals. However, national retail deposit share slipped to 11.1% in 2025, and average Business Banking loans fell 5% in Q2 2026.
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- Bank deposits hit a record high, mainly from individuals
Customer deposits at credit institutions reached about VND 17.77 quadrillion at end-August, up nearly VND 1.26 quadrillion from end-2025 and 11% year on year. Resident deposits reached about VND 11.43 quadrillion, the highest level on record, lifting their share of total deposits to about 64.34%, while corporate deposits stood at about VND 6.34 quadrillion. SSI Research attributes the growth to higher savings rates, with some private banks offering 7-9% a year on certain terms, faster public investment disbursement, and less attractive alternatives such as real estate, gold, foreign currency and digital assets. The firm says liquidity pressure should be watched in the fourth quarter, when year-end credit demand typically rises.
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