Washington Trust Bancorp Inc. reports slight decrease in Q2 net income

Washington Trust Bancorp Inc., parent company of the Washington Trust Co., reported a slight decrease in net income for the second quarter.

Washington Trust Bancorp announced net income of $17.3 million and 99 cents per share in the second quarter, compared to net income of $17.5 million and $1 per share during the first quarter.

It also reported mortgage banking revenues were up by $994,000 – or 38% – since the previous quarter. Loans amounted to $3.7 billion, down by $8.1 million from the previous quarter.

Net interest income was $33.9 million for the second quarter, a drop of $726,000 compared to the first quarter of 2019.