Brief: Washington Trust Announces Balance Sheet Repositioning

Washington Trust Bancorp

20/12/2024 18:36

Dec 20 (Reuters) - Washington Trust Bancorp Inc
 WASH.O :
    * WASHINGTON TRUST ANNOUNCES BALANCE SHEET REPOSITIONING
    * WASHINGTON TRUST BANCORP : BANK SOLD APPROXIMATELY $409
MILLION
OF AVAILABLE FOR SALE DEBT SECURITIES WITH A WEIGHTED AVERAGE
YIELD OF 2.65%
    * WASHINGTON TRUST BANCORP: AGREED TO SELL ABOUT $345
MILLION IN
RESIDENTIAL MORTGAGE LOANS WITH WEIGHTED AVERAGE RATE OF 3.03%
    * WASHINGTON TRUST BANCORP : BANK HAS REINVESTED ABOUT $378
MILLION INTO AVAILABLE FOR SALE DEBT SECURITIES WITH A WEIGHTED
AVERAGE YIELD OF 5.30%
    * WASHINGTON TRUST BANCORP: SALE TRANSACTIONS TO RESULT IN
NET
AFTER-TAX LOSS OF ABOUT $70 MILLION THAT WILL BE RECOGNIZED IN
Q4
    * WASHINGTON TRUST BANCORP : EXPECTS TO PAY DOWN ABOUT $352
MILLION OF WHOLESALE FUNDING BALANCES WITH ESTIMATED WEIGHTED
AVERAGE RATE OF 4.50% IN Q1 2025

Source text:  ID:nPn3Y1Zm9a 
Further company coverage:  WASH.O 

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