Washington Trust Bank Mortgage Rates, Fees & Info

Spokane, WA

LEI: 549300P2GEYNMH5OQA71

Tax ID: 91-0462347

5 stars - out of 5 stars, based on 54 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Washington Trust Bank is a small bank specializing in Cash Out Refi, Refi, and Home Purchase loans. Washington Trust Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Spokane, Seattle, Boise City, Sandpoint, and Moses Lake among others. Washington Trust Bank has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Washington Trust Bank is typically an average fee lendor.


Originations

2,970

Origination Dollar Volume (All Markets)

$1,064,410,000

Employee count

1,084 Show all (5) awards

Relative Rate

Washington Trust Bank's average 30 year fixed rate mortgage of loans were 3.08%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.07%.

Relative Fees

Washington Trust Bank's average total fees for a 30 year fixed rate mortgage are $4,236.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1,277 $332,625,000 $260,474 $3,656 3.35%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 296 $228,400,000 $771,622 $4,248 3.45%
BOISE CITY, ID (FHA|USDA|VA) 322 $103,330,000 $320,901 $4,459 3.44%
Outside of Metro Areas 250 $77,080,000 $308,320 $4,474 3.35%
Sandpoint, ID (FHA|USDA|VA) 90 $29,280,000 $325,333 $5,680 3.46%
Moses Lake, WA (FHA|USDA|VA) 88 $28,030,000 $318,523 $3,283 3.36%
WENATCHEE, WA (FHA|USDA|VA) 103 $26,315,000 $255,485 $3,527 3.28%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 52 $22,780,000 $438,077 $5,058 3.37%
Pullman, WA (FHA|USDA|VA) 73 $21,515,000 $294,726 $3,719 3.19%
Outside of Metro Areas 64 $21,320,000 $333,125 $4,450 3.36%
Hailey, ID (FHA|USDA|VA) 12 $20,510,000 $1,709,167 $9,030 3.40%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 23 $14,605,000 $635,000 $5,529 3.36%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 48 $13,520,000 $281,667 $3,590 2.98%
Moscow, ID (FHA|USDA|VA) 35 $10,395,000 $297,000 $4,824 3.41%
Ellensburg, WA (FHA|USDA|VA) 14 $9,270,000 $662,143 $4,204 3.34%
BEND, OR (FHA|USDA|VA) 16 $8,690,000 $543,125 $5,176 3.26%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 7 $6,695,000 $956,429 $7,481 3.61%
KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) 3 $6,525,000 $2,175,000 $5,567 3.79%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 20 $6,460,000 $323,000 $5,574 2.97%
Hilo, HI (FHA|USDA|VA) 4 $6,100,000 $1,525,000 $3,383 3.28%
SALEM, OR (FHA|USDA|VA) 17 $5,405,000 $317,941 $6,222 3.08%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 8 $5,190,000 $648,750 $4,329 3.50%
LEWISTON, ID-WA (FHA|USDA|VA) 17 $5,145,000 $302,647 $6,386 3.26%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 5 $4,375,000 $875,000 $3,231 3.33%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 4 $3,980,000 $995,000 $3,634 3.09%
Kalispell, MT (FHA|USDA|VA) 5 $3,545,000 $709,000 $5,619 3.18%
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 8 $3,490,000 $436,250 $4,398 3.42%
WALLA WALLA, WA (FHA|USDA|VA) 7 $2,745,000 $392,143 $3,132 3.04%
YAKIMA, WA (FHA|USDA|VA) 9 $2,745,000 $305,000 $3,324 3.43%
BELLINGHAM, WA (FHA|USDA|VA) 4 $2,120,000 $530,000 $4,116 3.34%
Oak Harbor, WA (FHA|USDA|VA) 4 $2,030,000 $507,500 $3,842 3.59%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 2 $2,020,000 $1,010,000 $3,851 3.50%
TUCSON, AZ (FHA|USDA|VA) 3 $1,655,000 $551,667 $4,960 3.13%
Edwards, CO (FHA|USDA|VA) 1 $1,505,000 $1,505,000 $4,891 3.63%
GRANTS PASS, OR (FHA|USDA|VA) 2 $1,390,000 $695,000 $7,783 3.19%
MEDFORD, OR (FHA|USDA|VA) 5 $1,335,000 $267,000 $3,855 3.00%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 3 $1,315,000 $438,333 $4,228 2.83%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 4 $1,140,000 $285,000 $3,565 2.78%
CORVALLIS, OR (FHA|USDA|VA) 3 $1,035,000 $345,000 $4,528 2.96%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $9,759 3.75%
MORRISTOWN, TN (FHA|USDA|VA) 1 $995,000 $995,000 $5,696 3.00%
MISSOULA, MT (FHA|USDA|VA) 1 $935,000 $935,000 $6,809 3.88%
Othello, WA (FHA|USDA|VA) 7 $895,000 $127,857 $3,683 2.77%
TWIN FALLS, ID (FHA|USDA|VA) 4 $830,000 $207,500 $2,850 3.12%
Hermiston-Pendleton, OR (FHA|USDA|VA) 3 $795,000 $265,000 $4,951 2.88%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $780,000 $390,000 $0 4.88%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $710,000 $355,000 $6,531 3.63%
Astoria, OR (FHA|USDA|VA) 1 $705,000 $705,000 $4,356 3.25%
Bozeman, MT (FHA|USDA|VA) 1 $665,000 $665,000 $3,128 3.24%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $655,000 $655,000 $2,533 3.13%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $610,000 $305,000 $4,273 3.06%
Kapaa, HI (FHA|USDA|VA) 1 $585,000 $585,000 $0 4.25%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $515,000 $515,000 $3,934 2.75%
FORT COLLINS, CO (FHA|USDA|VA) 1 $505,000 $505,000 $8,883 2.99%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 2 $500,000 $250,000 $2,913 3.75%
Butte-Silver Bow, MT (FHA|USDA|VA) 1 $475,000 $475,000 $4,955 3.13%
VALLEJO, CA (FHA|USDA|VA) 1 $475,000 $475,000 $3,100 2.63%
Riverton, WY (FHA|USDA|VA) 1 $445,000 $445,000 $19,191 2.75%
Ontario, OR-ID (FHA|USDA|VA) 3 $395,000 $131,667 $2,047 3.92%
ANCHORAGE, AK (FHA|USDA|VA) 1 $385,000 $385,000 $3,721 2.88%
Shelton, WA (FHA|USDA|VA) 1 $375,000 $375,000 $2,990 3.38%
Concord, NH (FHA|USDA|VA) 1 $335,000 $335,000 $2,386 2.63%
YUBA CITY, CA (FHA|USDA|VA) 1 $335,000 $335,000 $3,625 3.38%
Newport, OR (FHA|USDA|VA) 1 $315,000 $315,000 $3,268 2.99%
Roseburg, OR (FHA|USDA|VA) 1 $285,000 $285,000 $4,667 2.99%
Aberdeen, WA (FHA|USDA|VA) 1 $265,000 $265,000 $4,466 2.75%
CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 1 $255,000 $255,000 $0 4.25%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $255,000 $255,000 $4,122 3.13%
Rexburg, ID (FHA|USDA|VA) 1 $245,000 $245,000 $4,139 3.25%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $245,000 $245,000 $4,643 2.13%
CHICO, CA (FHA|USDA|VA) 1 $235,000 $235,000 $3,949 2.38%
LOGAN, UT-ID (FHA|USDA|VA) 1 $225,000 $225,000 $3,875 3.63%
YUMA, AZ (FHA|USDA|VA) 1 $185,000 $185,000 $4,893 2.75%
STOCKTON, CA (FHA|USDA|VA) 1 $165,000 $165,000 $3,209 2.88%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $155,000 $155,000 $3,445 2.88%
Centralia, WA (FHA|USDA|VA) 1 $155,000 $155,000 $3,384 2.88%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 1 $155,000 $155,000 $2,587 3.38%
GRAND FORKS, ND-MN (FHA|USDA|VA) 1 $155,000 $155,000 $3,820 2.88%
Fort Polk South, LA (FHA|USDA|VA) 1 $145,000 $145,000 $3,324 2.75%
SALT LAKE CITY, UT (FHA|USDA|VA) 1 $115,000 $115,000 $1,881 2.88%
BILLINGS, MT (FHA|USDA|VA) 1 $105,000 $105,000 $0 3.63%
Coffeyville, KS (FHA|USDA|VA) 1 $105,000 $105,000 $4,661 3.00%
Helena, MT (FHA|USDA|VA) 1 $75,000 $75,000 $0 4.25%
MOBILE, AL (FHA|USDA|VA) 1 $55,000 $55,000 $3,009 3.13%

Washington Trust Bank's top markets include Spokane, Seattle, Boise City, Sandpoint, and Moses Lake among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 2,863 $1,035,785,000 $361,783 $3,925 3.37%
FHA 57 $14,195,000 $249,035 $8,368 3.12%
VA 49 $14,235,000 $290,510 $5,430 2.68%
USDA 1 $195,000 $195,000 $5,259 3.25%

For the 2021 period, Washington Trust Bank's most frequently originated loan type of loans were Conventional, with 2,863 originations. Their 2nd most popular type is FHA, with 57 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 833 $313,715,000 $376,609 $4,019 3.30%
Refi 731 $268,725,000 $367,613 $3,526 3.05%
Home Purchase 648 $310,350,000 $478,935 $4,831 3.18%
Other 447 $130,105,000 $291,063 $4,073 3.81%
Home Improvement 311 $41,515,000 $133,489 $3,001 3.87%

For the 2021, Washington Trust Bank's most frequently cited loan purpose of loans were Cash Out Refi, with 833 originations. The 2nd most popular reason of loans were Refi, with 731 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,543 $631,105,000 $409,012 $4,236 3.08%
20 Year 594 $146,380,000 $246,431 $3,751 3.81%
Other 391 $119,055,000 $304,488 $5,073 3.82%
15 Year 269 $76,845,000 $285,669 $3,358 2.80%
10 Year 77 $31,995,000 $415,519 $2,450 3.82%
1 Year 56 $29,290,000 $523,036 $0 4.15%
30+ year 30 $24,080,000 $802,667 $6,243 3.82%
5 Year 10 $5,660,000 $566,000 $0 4.23%

For the 2021, Washington Trust Bank's most frequently cited loan length of loans were 30 Year, with 1,543 originations. The 2nd most popular length of loans were 20 Year, with 594 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1,064 $461,050,000 $433,318
$1k-2k 445 $112,905,000 $253,719
$2k-3k 176 $60,860,000 $345,795
$3k-4k 114 $44,070,000 $386,579
$5k+ 47 $31,475,000 $669,681

$4,236 of loans were Washington Trust Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 1,064 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 1,669 $619,855,000 $371,393
2.5-3% 931 $338,515,000 $363,604
4-5% 210 $66,830,000 $318,238
<2.5% 150 $38,500,000 $256,667
5-6% 7 $495,000 $70,714
Over 8% 2 $160,000 $80,000
7-8% 1 $55,000 $55,000

During 2021, Washington Trust Bank's average interest rate of loans were 3.08%, while their most frequently originated rate bucket of loans were 3-4%, with 1,669 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 989 $280,485,000 $283,605 $4,143 3.22%
$100k-200k 708 $103,800,000 $146,610 $3,169 3.41%
$100,000 or less 448 $24,510,000 $54,710 $1,916 3.61%
$400k-600k 448 $216,750,000 $483,817 $4,535 3.23%
$600k-1MM 219 $167,325,000 $764,041 $5,038 3.42%
$1MM+ 158 $271,540,000 $1,718,608 $6,742 3.43%

2021 saw Washington Trust Bank place emphasis on $200k-400k loans with 989 originations, totaling $280,485,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$250k+ 629 $391,295,000 $622,091 $4,968 3.48%
$100k-150k 475 $135,155,000 $284,537 $4,316 3.33%
$50k-75k 465 $82,645,000 $177,731 $3,542 3.24%
$150k-250k 417 $152,435,000 $365,552 $4,254 3.38%
$75k-100k 371 $84,055,000 $226,563 $4,214 3.28%
$50k or less 342 $53,480,000 $156,374 $3,483 3.22%

Washington Trust Bank lent most frequently to those with incomes in the $250k+ range, with 629 originations. The second most popular income band? $100k-150k, with 475 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 701 $231,215,000 $329,836 $3,954 3.30%
30-36% 515 $170,235,000 $330,553 $4,062 3.26%
<20% 431 $166,995,000 $387,459 $4,015 3.41%
50-60% 110 $24,750,000 $225,000 $5,298 3.85%
44% 101 $27,235,000 $269,653 $4,188 3.11%
42% 93 $35,605,000 $382,849 $4,144 3.20%
40% 93 $33,385,000 $358,978 $4,371 3.25%
37% 91 $32,385,000 $355,879 $4,174 3.24%
39% 89 $28,695,000 $322,416 $4,362 3.25%
41% 85 $26,025,000 $306,176 $4,255 3.25%
36% 80 $25,220,000 $315,250 $4,216 3.24%
43% 78 $23,490,000 $301,154 $4,869 3.28%
38% 76 $26,960,000 $354,737 $4,046 3.25%
49% 55 $10,155,000 $184,636 $3,260 3.55%
48% 50 $10,390,000 $207,800 $4,534 3.49%
45% 49 $10,085,000 $205,816 $4,242 3.53%
47% 48 $15,400,000 $320,833 $4,693 3.11%
>60% 39 $20,255,000 $519,359 $4,593 3.92%
46% 33 $11,635,000 $352,576 $4,194 3.45%

Washington Trust Bank lent most frequently to those with DTI ratios of 20-30%, with 701 originations. The next most common DTI ratio? 30-36%, with 515 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 2,023 $599,065,000 $296,127 $3,948 3.29%
Not provided 741 $307,805,000 $415,391 $4,592 3.47%
Not applicable 109 $118,155,000 $1,083,991 $0 3.96%
Asian 48 $23,680,000 $493,333 $3,947 3.19%
Black 16 $5,680,000 $355,000 $5,344 2.81%
American Indian 21 $4,805,000 $228,810 $4,648 3.17%
Native Hawaiian 4 $1,450,000 $362,500 $4,249 3.06%
Asian Indian 2 $1,440,000 $720,000 $4,499 2.88%
Chinese 1 $845,000 $845,000 $3,662 2.75%
Other Asian 2 $820,000 $410,000 $3,441 3.56%
Japanese 1 $475,000 $475,000 $16,784 2.75%
Vietnamese 1 $155,000 $155,000 $0 4.00%
Korean 1 $35,000 $35,000 $0 3.75%

Approval Rates

Total approvals of all applications
85.65%

Washington Trust Bank has an average approval rate.

Pick Rate

Approvals leading to origination
80.33%

Washington Trust Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
76.07 2 $160,000 $80,000
NA 2,968 $1,064,250,000 $358,575

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
2,970 $1,064,410,000 $358,387

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 621 $158,105,000 $254,597 $3,495 3.50%
40-60% 659 $248,885,000 $377,671 $3,672 3.19%
60-80% 863 $422,675,000 $489,774 $4,250 3.24%
80-100% 381 $163,135,000 $428,176 $5,098 3.23%
Over 100% 7 $3,775,000 $539,286 $14,064 3.05%
Under 20% 393 $39,115,000 $99,529 $1,311 3.65%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION Conventional home mortgage Closing on a mortgage 1 16.7%
WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION Conventional home mortgage Trouble during payment process 3 50.0%
WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 16.7%
WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 16.7%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Washington Trust Bank 2437 172nd St Ne, Ste L103 Marysville, WA 98271 Full Service B&M $8,812
Washington Trust Bank 105 W 8th Avenue Spokane, WA 99204 Full Service B&M $54,905
Washington Trust Bank 509 Central Avenue South Quincy, WA 98848 Full Service B&M $98,315
Washington Trust Bank 509 North 5th Avenue Suite E Sandpoint, ID 83864 Full Service B&M $77,053
Washington Trust Bank 523 Valley Mall Parkway East Wenatchee, WA 98802 Full Service B&M $130,278
Washington Trust Bank 601 Union St. Ste 4747 Seattle, WA 98101 Full Service B&M $1,664,802
Washington Trust Bank 6010 E. Franklin Road Nampa, ID 83651 Full Service B&M $40,214
Washington Trust Bank 670 Se Bishop Blvd., Pullman, WA 99163 Full Service B&M $124,664
Washington Trust Bank 706 West 2nd Avenue Spokane, WA 99201 Full Service B&M $203,407
Washington Trust Bank 717 W Sprague Avenue Spokane, WA 99201 Full Service B&M $900,032
Washington Trust Bank 7309 W. State Street Garden City, ID 83714 Full Service B&M $89,450
Washington Trust Bank 759 South Wenatchee Avenue Wenatchee, WA 98801 Full Service B&M $75,166
Washington Trust Bank 760 Sw 9th Avenue, Suite 1900 Portland, OR 97205 Full Service B&M $422,557
Washington Trust Bank 7802 West Overland Road Boise, ID 83709 Full Service B&M $44,868
Washington Trust Bank 7815 Division Street Spokane, WA 99208 Full Service B&M $183,711
Washington Trust Bank 10500 Ne 8th Street, Suite 1100 Bellevue, WA 98004 Full Service B&M $1,161,717
Washington Trust Bank 10609 W State Route 2 Spokane, WA 99224 Full Service B&M $126,331
Washington Trust Bank 12 Basin Street, N.W. Ephrata, WA 98823 Full Service B&M $89,733
Washington Trust Bank 1427 North Liberty Lake Road Liberty Lake, WA 99019 Full Service B&M $223,634
Washington Trust Bank 1518 21st St Lewiston, ID 83501 Full Service B&M $49,168
Washington Trust Bank 1601 E Seltice Way Post Falls, ID 83854 Full Service B&M $112,005
Washington Trust Bank 1851 N Wenatchee Ave. Wenatchee, WA 98801 Full Service B&M $87,638
Washington Trust Bank 1906 West Francis Avenue Spokane, WA 99205 Full Service B&M $130,113
Washington Trust Bank 218 E Lakeside Avenue Coeur D Alene, ID 83814 Full Service B&M $182,290
Washington Trust Bank 2200 North Cassia Street Nampa, ID 83651 Full Service B&M $64,146
Washington Trust Bank 222 Troy Rd Moscow, ID 83843 Full Service B&M $24,183
Washington Trust Bank 2415 E 29th Avenue Spokane, WA 99223 Full Service B&M $168,749
Washington Trust Bank 8050 N. Government Way Hayden, ID 83835 Full Service B&M $127,173
Washington Trust Bank 901 West Bannock Avenue Boise, ID 83702 Full Service B&M $205,245
Washington Trust Bank South 903 Main Street Deer Park, WA 99006 Full Service B&M $113,517
Washington Trust Bank 27 E Indiana Avenue Spokane, WA 99207 Full Service B&M $271,197
Washington Trust Bank 310 North Argonne Road Spokane, WA 99212 Full Service B&M $281,828
Washington Trust Bank 3103 South Grand Blvd. Spokane, WA 99203 Full Service B&M $142,575
Washington Trust Bank 3250 W. Clearwater Avenue Kennewick, WA 99336 Full Service B&M $256,357
Washington Trust Bank 3251 East Presidential Drive Meridian, ID 83642 Full Service B&M $259,165
Washington Trust Bank 3510 East Sprague Avenue Spokane, WA 99202 Full Service B&M $200,965
Washington Trust Bank 3810 North Maple Street Spokane, WA 99205 Full Service B&M $70,458
Washington Trust Bank 402 S Ash Street Moses Lake, WA 98837 Full Service B&M $219,530
Washington Trust Bank 4037 East Clocktower Lane, #12 Meridian, ID 83642 Full Service B&M $4,379
Washington Trust Bank 407 N Sullivan Road Spokane Valley, WA 99037 Full Service B&M $313,939
Washington Trust Bank 438 E. Hastings Road Spokane, WA 99218 Full Service B&M $134,052

For 2021, Washington Trust Bank had 41 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $308,613
Net interest income $299,033
Total noninterest income $67,944
Gross Fiduciary activities income $21,811
Service charges on deposit accounts $6,088
Trading account gains and fees $0
Additional Noninterest Income $40,045
Pre-tax net operating income $129,352
Securities gains (or losses, -) $0
Income before extraordinary items $101,090
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $101,090
Minority interest net income $0
Net income $101,090
Sale, conversion, retirement of capital stock, net $0
Net operating income $101,090

Washington Trust Bank's gross interest income from loans was $308,613,000.
Washington Trust Bank's net interest income from loans was $299,033,000.
Washington Trust Bank's fee based income from loans was $6,088,000.
Washington Trust Bank's net income from loans was $101,090,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $9,580
Provision for credit losses $9,000
Total noninterest expense $228,625
Salaries and employee benefits $141,033
Premises and equipment expense $23,228
Additional noninterest expense $64,364
Applicable income taxes $28,262
Net charge-offs $1,208
Cash dividends $35,351

Washington Trust Bank's interest expense for loans was $9,580,000.
Washington Trust Bank's payroll and benefits expense were $141,033,000.
Washington Trust Bank's property, plant and equipment expenses $23,228,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 0.0%
Real Estate loans 0.0%
Construction & Land Development loans 0.0%
Nonfarm, nonresidential loans 0.0%
Multifamily residential loans 0.0%
1-4 family residential loans 0.0%
HELOC loans 0.0%
All other family 0.0%
Commercial & industrial loans 0.0%
Personal loans 0.0%
Credit card loans 0.0%
Other individual loans 0.0%
Auto loans 0.0%
Other consumer loans 0.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $9,911,879
Deposits held in domestic offices $9,911,879
Deposits by Individuals, partnerships, and corporations $9,826,542
Deposits by U.S. Government $19,813
Deposits by States and political subdivisions in the U.S. $64,782
Deposits by Commercial banks and other depository institutions in U.S. $742
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $1,121,940
Demand deposits $1,016,048
Nontransaction accounts $8,789,939
Money market deposit accounts (MMDAs) $8,069,311
Other savings deposits (excluding MMDAs) $521,397
Total time deposits $199,231
Total time and savings deposits $8,895,831
Noninterest-bearing deposits $4,614,762
Interest-bearing deposits $5,297,117
Retail deposits $9,874,138
IRAs and Keogh plan accounts $34,409
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $11,078,690
Cash & Balances due from depository institutions $2,049,418
Interest-bearing balances $1,987,135
Total securities $3,324,754
Federal funds sold & reverse repurchase $0
Net loans and leases $5,395,472
Loan and leases loss allowance $140,603
Trading account assets $0
Bank premises and fixed assets $94,919
Other real estate owned $0
Goodwill and other intangibles $205
All other assets $213,922

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $11,078,690
Total Liabilities $10,278,796
Total deposits $9,911,879
Interest-bearing deposits $5,297,117
Deposits held in domestic offices $9,911,879
% insured (estimated) $39
Federal funds purchased and repurchase agreements $239,511
Trading liabilities $0
Other borrowed funds $20,063
Subordinated debt $0
All other liabilities $107,343

Issued Loan Types

Type Value (in 000's)
Net loans and leases $5,395,472
Loan and leases loss allowance $140,603
Total loans and leases (domestic) $5,536,075
All real estate loans $3,682,437
Real estate loans in domestic offices $3,682,437
Construction and development loans $541,948
Residential 1-4 family construction $84,637
Other construction, all land development and other land $457,311
Loans secured by nonfarm nonresidential properties $1,682,103
Nonfarm nonresidential secured by owner-occupied properties $744,791
Commercial real estate & other non-farm, non-residential $937,312
Multifamily residential real estate $220,422
1-4 family residential loans $1,185,796
Farmland loans $52,168
Loans held in foreign offices $0
Farm loans $233,249
Commercial and industrial loans $1,298,752
To non-U.S. addressees $0
Loans to individuals $124,801
Credit card loans $11,949
Related Plans $70,819
Consumer Auto Loans $10,314
Other loans to individuals $31,719
All other loans & leases $196,836
Loans to foreign governments and official institutions $0
Other loans $158,146
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $68,756
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $846
Non 1-4 family restructured loans & leases $751
Total loans and leases (foreign) $0

Washington Trust Bank had $5,395,472,000 of loans outstanding in 2021. $3,682,437,000 of loans were in real estate loans. $541,948,000 of loans were in development loans. $220,422,000 of loans were in multifamily mortgage loans. $1,185,796,000 of loans were in 1-4 family mortgage loans. $233,249,000 of loans were in farm loans. $11,949,000 of loans were in credit card loans. $10,314,000 of loans were in the auto loan category.

Small Business Loans

Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
Nonfarm, nonresidential loans - <$1MM 900 $286,977 $318,863
Nonfarm, nonresidential loans - <$100k 82 $3,275 $39,939
Nonfarm, nonresidential loans - $100-250k 238 $30,138 $126,630
Nonfarm, nonresidential loans - $250k-1MM 580 $253,564 $437,179
Commercial & Industrial, US addressed loans - <$1MM 6,216 $322,190 $51,832
Commercial & Industrial, US addressed loans - <$100k 4,792 $60,468 $12,619
Commercial & Industrial, US addressed loans - $100-250k 626 $55,217 $88,206
Commercial & Industrial, US addressed loans - $250k-1MM 798 $206,505 $258,778
Farmland loans - <$1MM 92 $6,653 $72,315
Farmland loans - <$100k 6 $241 $40,167
Farmland loans - $100-250k 35 $2,177 $62,200
Farmland loans - $250k-1MM 51 $4,235 $83,039
Agriculture operations loans - <$1MM 236 $19,204 $81,373
Agriculture operations loans - <$100k 117 $2,302 $19,675
Agriculture operations loans - $100-250k 56 $3,630 $64,821
Agriculture operations loans - $250k-1MM 63 $13,272 $210,667