Washington Trust Bancorp Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, the company's total interest and dividend income was $31,477,000 compared to $31,905,000 a year ago. Net interest income was $26,255,000 compared to $26,263,000 a year ago. Income before income taxes was $16,090,000 compared to $16,409,000 a year ago. Net income was $10,744,000 or $0.62 per diluted share compared to $11,191,000 or $0.66 per diluted share a year ago. Book value per share was $22.06 as on December 31, 2015 compared to $20.68 as on December 31, 2014. Return on average assets was 1.16% compared to 1.27% a year ago. Return on average equity was 11.52% compared to 12.68% a year ago.

For the year, total interest and dividend income was $125,750,000 compared to $121,117,000 a year ago. Net interest income was $103,982,000 compared to $99,505,000 a year ago. Income before income taxes was $64,343,000 compared to $59,823,000 a year ago. Net income was $43,465,000 or $2.54 per diluted share compared to $40,824,000 or $2.41 per diluted share a year ago. Return on average assets was 1.19% compared to 1.23% a year ago. Return on average equity was 12% compared to 11.87% a year ago.

Based on the current federal and applicable state income tax statutes, the corporation currently expects the 2016 effective tax rate will be approximately 33.0%.

Net charge-offs amounted to $842,000 in the fourth quarter of 2015, compared to $626,000 in the third quarter of 2015.