WASH News & Events

Tensions in the Strait of Hormuz are percolating again as Iranian officials have walked back its messaging of a deal being reached and President Trump upped his bellicose rhetoric, stating that it is unlikely that Wednesday's deadline for ceasefire will be extended.  Oil prices jumped on the news toward $90 per barrel and Energy was the best performing sector in the S&P 500, though the impact on broader sentiment was relatively mild, with U.S. indices finishing lower by less than 0.3%.  Communication Services was the worst performing area of the market as Netflixremained weak after last week's post-earnings selloff and Metaalso turning in the worst performance among the MAG-7.In the opening hour of the evening session, index futures are more upbeat - S&P e-minis are up a decimal and Nasdaq 100 contract is up 0.2%.  Of note afterhours, Amazon.comhas continued its climb toward record highs after announcing an expanded investment in Anthropic.  Applemeanwhile is laying the groundwork for a leadership transition, announcing John Ternus will be the company's next CEO while  Tim Cook transitions to a role of Executive Chairman effective September 1.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -RBB Bancorpup 4.2%CNB Financialup 2.0%Flexsteel Industriesup 1.6%Steel Dynamicsup 0.5%NETSTREITup 0.5%ALSO HIGHER -Amazon.comup 2.6% after announcing expanded investment in AnthropicDOWN AFTER EARNINGS -Washington Trust Bancorpdown 7.1%Alaska Air Groupdown 5.4%Zions Bancorporationdown 3.0%AMCON Distributingdown 1.8%ALSO LOWER -Spruce Biosciencesdown 14.2% after equity offeringAXT, Inc.down 11.9% after Q1 pre-announcement, equity offeringApple (down 0.5% after announcing succession plan for CEO Cook

"Washington Trust delivered solid first quarter 2026 results, led by an increase in net interest margin, which reflects the strength of our core banking business and continued benefits from the December 2024 balance sheet repositioning transactions," said Washington Trust Chairman and CEO Edward O. "Ned" Handy III. "Our balance sheet remains strong, and as we move through 2026, Washington Trust is focused on delivering long-term shareholder value while providing customers with personalized service, local decision-making, and a comprehensive suite of financial products and services." Net interest income was down by $223 thousand, or 1%, and as noted above NIM was up by 7 basis points. Compared to the first quarter of 2025, net interest income was up by $4.1M, or 11%, and NIM was up by 34 basis points.