Filing Flows › Washington Trust Bancorp (WASH) › Q1 2026
Washington Trust Bancorp (WASH) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Washington Trust Bancorp (WASH) reported revenue of $57.8M for the first quarter 2026 (Q1 2026), -2% from a year earlier and -2% from the quarter before. Operating margin was 27.8%, net earnings $12.6M (21.8% of revenue).
Washington Trust Bancorp, Q1 2026: revenue $57.8M (-2% year over year), operating margin 27.8%, net earnings $12.6M, operating cash flow $16.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $57.8M | -2% | -2% |
| Operating profit | $16.1M | -22% | +3% |
| Net earnings | $12.6M | -21% | +3% |
| Operating cash flow | $16.1M | -23% | +91% |
| Free cash flow | $14.8M | -25% | +77% |
What changed
Revenue was $57.8M in Q1 2026, down 2% year over year and down 2% from the previous quarter. Wealth Management Revenues was the largest line at 18% of revenue. Card Interchange Fees lost $124K year over year (down 8%), 10% of the total change.
Operating profit was $16.1M, a 27.8% margin (up 1.2 points year over year). Total costs fell 4% while revenue fell 2%. The fastest-growing cost line was Sales & marketing (+33%). Net earnings were $12.6M, up 3% year over year. The effective tax rate was 21.6%.
Operating cash flow was $16.1M (up 91% year over year), 128% of net earnings. Non-cash charges added back $807K of depreciation and amortization and $651K of share-based compensation. Working capital and other items added $2.1M. Capital expenditures of $1.3M left free cash flow of $14.8M.
Questions
What was Washington Trust Bancorp's revenue in the first quarter 2026?
Washington Trust Bancorp (WASH) reported revenue of $57.8M for the first quarter 2026 (Q1 2026), -2% from a year earlier and -2% from the quarter before.
Was Washington Trust Bancorp profitable in the first quarter 2026?
Operating profit was $16.1M (27.8% of revenue) and net earnings $12.6M.