WESTERLY, R.I. (AP) — WESTERLY, R.I. (AP) — Washington Trust Bancorp Inc. (WASH) on Monday reported first-quarter net income of $12.6 million.
The Westerly, Rhode Island-based bank said it had earnings of 66 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.
The holding company for The Washington Trust Co. posted revenue of $92.3 million in the period. Its revenue net of interest expense was $57.8 million, which also fell short of Street forecasts.
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