WESTERLY, R.I. (AP) — WESTERLY, R.I. (AP) — Washington Trust Bancorp Inc. (WASH) on Wednesday reported a loss of $60.8 million in its fourth quarter.
The bank, based in Westerly, Rhode Island, said it had a loss of $3.46 per share. Earnings, adjusted for non-recurring costs, came to 59 cents per share.
The holding company for The Washington Trust Co. posted revenue of $97.9 million in the period. Its revenue net of interest expense was $49 million, exceeding Street forecasts.
For the year, the company reported profit of $28.1 million, or $1.63 per share. Revenue was reported as $191.5 million.
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