Washington Trust Bancorp, Inc. (NASDAQ:WASH) Q3 2023 Earnings Call Transcript

Bill Wray: Yes. I want to make sure I give you current versus pro forma on each of those, so we can follow up and give you those stats.

Laurie Havener Hunsicker: Okay. Great. And then just one last question. Obviously, very, very well capitalized here. I realize earnings are bumping up against dividend. But how do you think about the buyback? I mean you’ve got all your peers seemingly in your geography, are now active in some form in a buyback. Your stock is very, very discounted from the last point you were looking at. Can you just help us think about that a little bit from the standpoint of your capital. Thanks.

Ron Ohsberg: Yes. Yes, we have no intention of doing any buybacks.

Laurie Havener Hunsicker: Okay. Great. Thanks. I’ll leave it there.

Ron Ohsberg: Thanks Laurie.

Operator: [Operator Instructions] We have no further questions. I’ll turn the call back over to the management team for any further remarks.

Ned Handy: Thank you, Emily, and thank you all for your time today. This is a – certainly, these are uncertain times, and we’re confident that Washington Trust is the best alternative for people, business and organization to seek a higher level of personal guidance, competitive products and stability to make the most of their financial well-being. I want to take this moment to thank our employees for the incredible amount of work they’ve done through these difficult times. We have a long, long history of managing through challenges, so I’m confident we’ll farewell here. I also want to thank our customers for knowing us as well as we know you. We learn and get stronger with each experience, and we’ll do so here as well. And we appreciate the support and assurances we’ve received from our shareholders and the investor community global unrest, economic uncertainty and a stubborn inverted yield curve or hardships we all have to endure.

But with strong partners, patience, prudent decisions and disciplined hard work, we will gain strength and be positioned well for much better times ahead. So thank you all for your time this morning. Have a great day.

Operator: Thank you, everyone for joining us today. This concludes our call, and you may now disconnect your lines.